{ title: 'The sun. (New York [N.Y.]) 1916-1920, January 22, 1919, Page 10, Image 10', download_links: [ { link: 'http://www.loc.gov/rss/ndnp/ndnp.xml', label: 'application/rss+xml', meta: 'News about NYS Historic Newspapers - RSS Feed', }, { link: '/lccn/sn83030431/1919-01-22/ed-1/seq-10/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83030431/1919-01-22/ed-1/seq-10.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83030431/1919-01-22/ed-1/seq-10/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83030431/1919-01-22/ed-1/seq-10/ocr.txt', label: 'text/plain', meta: '', }, ] }
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10 Opportunities in , Long-ter- m Bonds AT present prices high- - grade bonds offer an unusually attractive yield over a long period. We liave prepared a spe- cial list of such securities maturing from 1929 to 195 The yields range from 5.45 to more than 6i7. Circular dcicrlhl.f (hen (lines will be lurniilicH u.a request fr TheNatiomlCrty Company Mil. OCcii Nuissil Ott BiUt., IVtiwa Oltt: F1I1S An. tiii St. Crrrtittndt! Ofictt i 3i Citiii COUPONS Payable at Our Office February I. 1919 CREW LEVICK COMPANY lit 6 1931 EMPIRE REFINING CO. lit Mtge. & Coll. Tr. 6j 1927 THE LORAIN COUNTY ELECTRIC CO. lit Mtge. 5. 1941 SPOKANE GAS & FUEL CO. lit t Ref. Mtge. 5. 1944 WEBB CITY & CARTERVILLE GAS CO. lit Mtge. 6i Henry L. Doherty & Company 60 Wall Street Investment Suggestions A cetrtjully selected lilt of IS Bonis, 10 Preferred and 10 Common Slocks la contained In Sptcial Circular on request. E. W.Wagner & Co. i:slabli$iied 1SST, Chicago. York Slock Eichange (Xtw York Cotton Board of 7 rail' 33 NEW ST. NEW VOHK TTBEUI.T DM AH T ON I CTANDAJiD ISSUES L Capital and Surplus more than Day', Year , - Industrials Tend to JJo Firm inn. Clolltut. I 46 Toward Close, While Bails 21 R6 Continno Reactionary. 70T4 3tt n STANDARD LIST DECLINES sou 82 100K 68 W Sentiment Still Cautions as 46i4 100W Technical Position of 88; 41 Market Improves. 14?i 81 37 X 54 Tteactlonary talk preceded the Mock 46 market's opening again yesterday nnd toe tho best part of the day the price 1W 68 movement continued In keeping with ex- pectations. 105H Further progress downward 105 made In the rail?, and during tho 78 U morning the greater part of the Indus- trial 11114 list was carried to new low ground 101 for the current movement. In the after- noon 104H the trend Improved, and although 192 the recovery did not go as far as had 101 been expected, tho Industrials were dis- posed 45 to be rather firm to the closing. SSU The rails, however, continued their re- actionary lit disposition throughout the 3914 day. Although there was some Im- provement 57? in tho last hour, the recovery 1 wan not sustained very well, and at the finish securities In that department gen- erally so yt preseated a rather unsatisfactory 85 appearance. T\ie net result as revealed 100 the statistical averages by customary 65 H was another substantial decline In the 67 standard list, with numerous more ex- tensive breaks In the specialties. 43i 53 From a purely technical viewpoint the market's action was again disappointing IO8V4 to those who had been expecting a 101 56 rally. However, It tlfd not appear as though thomtTofcsx'.onals had succeeded 21?. In bringing out real stock, and the 3 151 tendency at the closing seemed to sug- gest that about the worst of the move- ment 16T4 wan over. Sentiment wa still 17H cautious, however, and there did not 51 seem to be a disposition to anticipate 22H attgresslv.ly constructive features. Just 156 what the day's movement was based on 91 continued as much of a mystery as on 57U preceding days. There was no news of 105 a character that might have been ex- pected 31 H to Influence stocks, except pos- sibly 6Si the Schwab interview, which was TVs not 'taken seriously in conservative quar- ters. 23S The unfavorable Impression in 36 connection with' the railroad situation 6; was a continuing Influence, as were the 93 unsatisfactory considerations Involved In 24,i the industrial outlook with which Wall 61 i .Street has been engaged for the last 74 month or more. Hut It would seem. In 75 spite of these factors, ns if tho market 105 had pretty well discounted the future, 17H and that the buying which has developed 33 on a scale down should soon begin to 30 make an Impression upon the market. 35 What probably made yestci day's sell- ing 19 look more important than it really 41 was was the progress made In a number 921 ' of tho old line Investment rails such as 63 Heading. Southern' Pacific. Union and 46 New York Central, all of which estab- lished 102 new lows for the year. The prog- ress 53 made in that department natu- rally 90 encouraged trade to try to de- press HI \7S R' the Industrials again, but when it 75 1; was found mat there was a good deal 101U of resistance the market Improved. The 3 fact that the railroad shares yielded so 6 easily revealed the lack of support 524 which has resulted from the uncertain 11 state of affairs in Wishing ton. In that 15 connection, how ever. It was learned yes- terday 24 that developments were Impend- ing 1 In Washington which would tend to 25 Improve the status of the railroad shares 48 and which, if given propver support, 147 would tend to place tho whole situation 121 In an entirely new light before the rail- road 74 investor of the country. Trading, 82j which has been on an expanding scale 671.1 for the past week, expanded still further 74 yesterday, tho total transactions being 90- - the largest for some time back. 36 change In the money Them was no 42 i situation. Ttoth call and time money 51 continued plentiful, and rates were gen- erally satisfactory. same story was true \of the foreign exchange market in 43 most rates, nllhough there was an easier 4 trend In a few of the neutrals. In the 63' 1S bond department business was fairly ac- tive, and a slight Improvement was noted 110 In most descriptions. Itallrond bonds 23i were disposed to yield somewhat In sym- pathy 99 with tho movement in the share -, list, but Liberties were Arm, as wore 35 most of the foreign government Issues, 63 which were in good demand and traded 31 in on a fairly active scale. 17 49 MONEY AND EXCHANGE. 67 33 32 CALL MONEY, 69 rjtixed All Industrials. 62 \ HUh ':,.l\h I 83 I.ow \i l\ 5 l\-a- 8 Un\vals 'i Renewals 6 18 Year's blsh (Vear'a hirh 6i 54 Year's low 3i Year's Low 44 16\ CALL ILOA-N- ON ACCEPTANCES. ft Prime merolcr bank acceptance! 4'4i S4U' TIME LOANS. o it WW, rnllAtrrnl All Industrials. r.i) Sixty days 5 (Sixty days tvi it ; Ninety days & Ninety Uar ,.4 Four months 7, Four months., m 167 Fivo months & Five mouths.., & 24 Six months 5 Six months,.,. 6 41 COMMERCIAL, PAPER. 9 Prime Indorsed BiUs'.Slr months I 4 Receivable. Other Name 8 Sixty days r. IThree to tlx Ninety days & 1 months I 22 ACCEPTANCES. 49 70 90 days, f \ days. IS daya. Bid. Ask. Bid. Aik. Bid1. Ask. Eligible member 30 bank. if. M A rV A 110 Eligible n n n- - 14 mwnber banks. 4H t 4S 4H 4ti 4ij Ineligible banks 48 bills ti & Mi 6 ' 67 CLBAIUNO JIOV'SH STATKJCKNT. 16 mu us nearlnc House exchanges, l69o.0U.07S; bal. 33 MAILED alien, sn.l.'IMO : credit bal- ances, 100 TO Federal rescrT. credit bal- ance, 70 INVBVTOBS jm,13.:w. 20 IH5MESTIO EXCHANGE. ON BEdlKSI 27 Boston, par; Chlearn, par; St. Loola. tfcO 13 l.v. discount: San Francisco, par; Montreal, tZO.KM per ll.OX) premium; Cincinnati, par; 104 Minneapolis, 10c. premium. SltA'HJl riUCES. 88 Bar .titer In New York, fl.Olti, 42 In London, 47iW.. unchained; 8 Mexican dollars. \?4c unchanged. 36 FOREIGN KXCirANGE. 21 rrT. 67 Slerllnr- - inuh. lxw. IJilt. clos. Jlftinand... 4.7Vt 4.7\A 4.TSH 44 Cables... 4.TS, 4TA 4.76A 12 Francs 29 Jiemanu. B IS'i 65'4 h 46: 39 Cables... t.ii'i 17 Normal Ye stei day, close 45 rate uemanri of exch. or cheeks. Cables. 45 (.TO Slerllnr 4.73,', 4.7rV 34 C.mt Paris f.4.'.'i S.4S4 13 Belgium 6.70 (.73 China 61 Konickonr 71 120 Shanghai 1:2 l?-- !i 70 lf.t.15 Greece tO.oi ao.u 20 47.11 Holland 41 4!'i ' iMt India-Calc- utta 77 XS.71 K.TJ 36 Italy (Zt 72 41.34 Japan-Yokoh- ama .. UK K.lt 71 1.79 EeandlnaTla 11 Stockholm :H f 17 ('npeiiharen IT; n 29 christUrJa J4, u South America 62 M.40 Rio it.tt U.V 7 350.000.000 1.0W4 Argentina (fold), 91 15 Buenos Ayrci..., 44,70 44. so 171 J700.000.000 19 M Sbaln M.15 ao.H MCI Ktllserland 4.MU (.sjil 12 Itnssla 34 (hisholm &(hpman MCMIIDI tiCW VOS TOCK CftCMAHSS 4iMafS IIWVGHCOnON KSCMASSI 71 eQAnwAYxN.wYonK.CiTy .s announce upoDlmr. Bronx Branch Office, 391 E. 149th St,N.Y.(Nr. Melrose Av.) Telephone Mclrtwe 6036 Edward E. Miers. Manager. For Sale 100 Shares Amer. Piano Com. & Pfd. , Bids Wanted J.K.Rice,Jr.&Co. Phones 4000 to 4010 John. 35 Wall St , N. Y. Want Offerings Jlaxnolia Petroleum Imperial 1)11, Ltd. New JlexJoo Arli, Land \tit. Douglas Fenwick & Go. Standard Oil Securities 34 Wall St.. N. Y. Tel. John 4220 Scoville Manufacturing Louisville Ltg. 1st 5s, 1953 Todd Shipyards 6s, 1921 Poole Engineering & Machine Kiely & Horton 40 Wall St.. N. Y. Phore John 6330 STOCKS-BON- DS Complete farJIlttot fnr th execution t'f orders la any amount Hartshornc, Fales&Co. MembrrtX V Sleek Hiehanor 7 WAI.I, M ItKlir TEL. 0 MAI OR STANDARD O 11 Oa any The 71.10 CARLH.PFORZHEIMER&CO. Taons Bread. St Broad St.. N. T. Adams Express Co. 4s 1947 4s 1948 FREDERIC H. HATCH & CO. rhone Rrrtnr 0340. It llrnadnay. New York ITivatn telephones to Boston ami 1'hllaclelr.hla. LIBERTY BONDS BOUGHT FOR CASH All luuei and Denominations Cotifht at Slock Exchange Prictl DIDRICHSEN & CO. Tel. John 34 Pino St., N. Y. Guaranty Trust Company of New York Resources Collateral. 3174-5-6-- 7 Hark A. Nobto Theodore C, Corrrta NOBLE & CORWIN Hjs im BtLI ON LONDON, 49 96 25 BanUers.l Commercial, 66 day. 4 7l'4 JO days 4.71 37 days 4.7SHIC0 data 4,71 46 Pennsylranla Crude Oil Market. 47 Oit. Cirr, Jan. 21. Credit bal- - 32 ances. II. Kuns, 119,761; average, 66,. J5 Broad St. New York Com Exchange Bank Stock & Rights Ttltphoae 1U1 Bra ad FINANCIAL NEWS AND COMMENT Mv rubles rubles K.nn TIMK M OS r., THE SUN, WEDNESDAY, TANTJXRY 22, 1919, NEW YORK STOCK EXCHANGE PRICES. Tuesday, January 21, 1919. 1919. 1918. .ales ,. 659.904 467,137 to date.. 7.668,266 10.s44.077 - IDIr. Open- - Hlcb-e- t Low- est. Air, tin I. Sales. Inr. 48 100 Adams Kxpress 46 46 46 46 21 900 Advnnco Itumoly 21 21 21 21 58 200 Advance) Ilumcly pf. 67. 67 66 66 71 100 AJax I Jabber 71 71 71 71 3 1000 Alaska Qoltl Mines 3 3 3 3 2 1000 Alaska. Juneau O M. 2 '2 o 30 3800 Mfff 30 31 30 30 83 200 Jitfg pf . . . 82 82 81 81 10014 600 AmAgrlcul Chemical ... 101 101 100 100 68 1000 Am Beet Sugar 63 68 67 68 46 6000 Am Can 46 46 45 46 101 7 400 Am Can pf 101 101 101 101 89 i 1200 Am Car & Foundry 88 89 88 88 43 4 1600 Am Cotton Oil 43 42 41 41 15 1100 Am Hide & leather 15 15 14 14 81 7 16900 Am Hlda A Leather pf. . . 83 83 80 81 39 400 Am 'Ice 40 40 88 38 54 8.60 300 Am International Corp... 54 54 63 63 46 3200 Am Linseed Co 46 46 45 46 58 6 1200 Am Loeomotlvo 58 58 68 68 1 360 Am Malting 1 1 1 1 63 15600 Am Smelt lief 67 6 67 68 108 400 Am Kmelt & Itef pf 106 106 106 106 110 100 Am Snuff 110 110 110 110 78 2600 Am ttteel Foundries 78 79 77 79 113 700 Am Sugar Ref 112 112 111 111 102 8000 Am Sumatra Tobacco . . . 10 102 100 102 100 900 Am Tel A Tel 100 100 100 100 195 600 Am Tobacco 136 196 192 193 103 200 Am Tobacco pf new 101 101 101 101 45'4 300 Am Vooln 45 45 45 45 33 1200 Am Writtnsr Paper pf . . . 34 34 33 33 12 800 Am Zinc, Lead & Smelt.. 11 11 11 11 43 300 Am Zinc, Lead & 8m pf. 40 40 40 40 67 6600iAnaconda Copper 67 67 57 67 1 100 Assets lloallzatlon Hi 1 1 1 22 400 Associated Dry Goods ... 22 22 21 21 91 2950Atch, Top & Banta Fe.... 91 91 90 90 88 300Atch, Top & Santa Fo pf . 86 86 86 86 101 SOOOlAtl, Gulf 4 W I S 6 101 101 98 100 68 300l All. Gulf SWISS pf.. 66V 66 65 66 67 1S100 Baldwin Loeomotlvo Wks 66 67 66 67 44 6000, Baltimore & Ohio 46 46 44 44 54 500 Baltimore & Ohio pf.. 65 5.- -. 54 64 112 lfln(lf,.it , 108 108 108 108 102 SOOlBethlchcm Steel V p'c'pf .' 102 102 101 102 56 iibuij Hounonem steel H 65 56 53 56 22 6600 Brooklyn Rapid Transit.. 22 22 21 22 10 300'Uruns Term & n II 9 9 9 9 155 lOOIUurns Bros 132 152 152 152 11 U 100 Butterlck Co 17 17 17 17 18 100 Butto & Superior Copper. 17 17 17 17 52 400 California lacking Co.... 51 61 50 51 22 400 California retroleum .... 22 22 22 22 156 2300 Canadian Pacific 167 157 155 156 94 800Case, ,T J, Thresh Mao pf. 93 93 03 93 67 600 Centrnl Leather 67 67 67 67 106 800 Central Leather pf 103 105 105 105 32 1900,Ccrro de Pasco .'oppcr. . 32 32 31 31 54 34Uo;ijlicsapenke Ohio 54 54 53 54 7H 6001CIiicaK( Ot Western .... 7 7 7 23 300!Chlcagf (it Western pf , . 4 21 23 23 37 9200lChlc, Mil A St Paul 3S 3s 36 36 C7 300Chle, Mil & fit Paul pf . . . 68 69 63 94 1600'Chlcago & Northwestern. 9t 94 93 24 6300'Clilc, Bock Isl & Pnc 2 22 2\ti 62 1500!Chlc, P. 'I & Vac 6 p c pf . 62 62 61 62 75 1300lChlc, H I & Pac 7 p c pf. 74 74 78 74 82 100'Chlc, St P. M A Om .... 7S 7S 78 7S 120 lOOIChic, St P. M & Om pf.. 105 105 105 105 17 1600'Chile Copper 17 17 17 17 33 1600 Chlno Copper 33 33 33 33 33 300'C'leve. Cin. Chic & St L. . 35 35 33 33 33 700Volorado Ful & Iron.,,. 35 3.1 35 35 20 200 Colorado & Southern 20 20 20 20 41 2700 Columbia Gas & Elec... 41 41 40 41 93 50'J Consolidated GO 92 92 92 92 70 500 Continental Can 6S 69 6S 69 46 13800 Corn Products P.ef 46 46 46 46 103 100 Corn Products Itef pf... 102'102 102 102 53 SoOO.Crucible Steel Co 52. 51 52 94 100'CruclbIe Steel Co pf 91 91 91 91 23 4600'Cuba Cane Pugar 23 24 23 23 76 900'Cuba Cane Sugar pf 75 75a4' 75 75 103 300 Delawaro & Hudson 101 101,101 101 4 lOOHlenver & Itio Grande . . . 3 3 3 3 7 200 Donver & Itlo Grande pf. 6 6 6 6 53 S300 IJlstlllerfl Securities Corp. 63 53 52 12 400 IKime Mines 12 12 12 15 6700 Krle 15 16 15 15 25 2100 Krle 1st pf 23 24 25 18 400'Rrlo 2d pf 18 1S IS lr. 27 4 3100 Gaston. Williams & Wig. 29 29 23' 25 50 4 1900 General Cigar Co ' 49 50 47 48 149 8' POO General K'reotric Co 14S 14S 147 '148 121 12; 7i00iOeneral Motors Corp .... 121 121 11S 121 1 1004S!Gencral Motors C'orp rgtsi 1 1, 83 200General Motors Corp pf.. S3 83 82 82 67 700 Goodrich. It V 58 58 57 57 10' 900'Granby Consol M & S.... 73 75 71! 74 91 3300'Great Northern pf 91 91' 90, 91 36 S700Grcat Northern Ore ctfs. 35 36' 35 36 43 600 Groene Oananea Copper.. 43 43 42' 42 52 10 600 Gulf States Steel ' 61 61' 60 61 96 7 300 Illinois Central ' 96 35', 96 96 43 81 2700i Inspiration Con 4'opper. .j 43 43' 43. 43 5 2900 Tnterbnro Con Corp 5 6, 6 5 19 13001 Interboro Con Corp pf . . . 19 19! 18 18 53 168 Int Agrtcul Corp pf ) 64 54 64 54 112 000'int Harvester Co new '1127, 112 110;110I 24 2100lnt Tiler Marino 23' 23 2 99 23175 Int Mer Marine pf 99U00 9S 99 8600 International Nickel 26 27 -- '4 27 35 5500 International Paper 34 35 34 35 64 j 400'lnternat Paper pf stpd... 63 61 63 64 32 10()Jewel Tea 32 32 32 32 18 600 Kansas City Southern ...I 18 18 18 18 51 lOOiKansas Citv Southern pf. 49 49 i9 49 69 300'Kelly-Springfie- ld Tire ... 68 68' 68 68 36 100'KeIsey Wheel Co 35 35 ' 35 33 32 1300 ICennecott Copper 32 32 32 32 7! 2(l0,Kress, S II, & Co 60 60 60 60 63 1300 Luckawanija Steel Co ... 63 63 62 63 86 100 Laclede Gus of St Louis. 83 83 83 9 lOOlLake Krio & Western ... 8 8 8 8 21 800i Lako Krio & Western pf. 18 18 IS IS 64 400 Lehigh Valley 54SI 54. 54 54 165 100 Lorlllard. P, Tobacco 162 1162 162 162 65 400LMackay Cos pf 64 64 64 64 86 lOO'Manhattan Elevated .... 85i 85 S5 85 27 300. Maxell Motor 27 27 ill 61 200lMajcwelI Motor 1st pf. 61 61 60 60 65 700'May Department Stores.. 65 66 65 66 167 43R00IMcxIcan Petroleum 170 171 163 167 24, 400'Mlaml Copper 24 24! 24 24 41 3800'Mldvalo Steel & Ord 41 42 41 41 10 800jitlnn & St Louis new.... 10 10 5 200 Missouri, Kan & Tex 5 5 9 200 Missouri, Kan & Tex pf . . 8 S S 8 22 6600!Missouri Paclflo 23 23 22 60 1200;Mls.sourl flo pf. 51 51 49 73 6 100 Montana Power 70 70 70 79 3.50 lOOiMorrls & Essex 71 71 71 71 31 3 lOOI.N'atloiial Acme Co 30 30 80 30 111 200 National Biscuit Co 111 111 111 111 15 1100'NatlonaI Conduit & Cable 14 14 14 14 48 700 National Knam & Stamp. 48 48 48 48 68 1000 National Lerul Co 67 68 67 68 16 3 300 Nevada Con Copper 16 16 1 16 34 100New Orleans, Tex A Mex 33 33 33 33 102 20 200iNev York Air Brake 103 103 102 102 70 5 4400INOW York Central 71 71 69 70 25 2 200 New York Dock 25 24 24 28 8600 Now York, N II & Hurt. 28 28 27 28 19 '2 200 New York, Ont & West. 18 18 18 18 105 7 600 Norfolk Western 104 104 104 104 1000 Norfolk 4 WfHt rights.. 8S 4200 Northern Paclflo 90 90 8S 88 42 E 2400 Ohio Cities Gas 41 42 41 42 9 50c 6900 Oklahoma Trod & Ref. . 9 9 ST, 8 38 1 700 Paclflo Mail 37 87 86 36 22 200 Paclflo Tel & Tel 22 22 22 22 67 6 iuu ran-am- er j'cirui etc l 67 ess; 67 67 44 3 2D00iPennsvlvania It H.... 44 44 44 44 12 800 Pern Marquette 12 12 12 12 80 '3 200 Philadelphia Co 30 80 so 80 39 6 2300 PIcrco-Arro- w Motor .. 39 89 39 39 17 1900 Plerco OH Corp 17 17 16 17 50 4 100 Pitts, C, C & St L 45 45 45 45 46 6 600 Pittsburg Coal of Pa.. 45 45 so ',4 45 34 1800 Pittsburjr A West Va. 84 84 84 84 13 1 200 Pond Creek Coal 13 13 13 13 62 8 200 Pressed Steel Car ..... 61 62 nil, 62 123 X 200 Pullman Co 120 121 120 121 71 S 900 Railway Steel Hprlnir. 70 70 70 70 20 3 1100 Hay Consol Copper .. 20 20 20 20 77 4 22100 Reading 77 78 75 77 38 2 100 Reading 1st pf 37 37 31 7S 37 72 6 1900 Repuhllc Iron & Steel. 71 72 71 72 73 346 1200 Royal Dutch Co 70 72 70 72 ill 700 St Louts & San Francisco 11 11 10 11 18 200 St Louis Southwestern 18 18 17 17 80 200 St Louis Southwestern pf 30 30 .10 30 68 uu savage Arms corp .... 62 62 62 62 8 400 Seaboard Air Line .... 8 8 7 7 1014 200 Seaboard Air Lino pf.. 15 15 16 16 173 400 Sears-Roebu- Co 173 173 172 172 18 600 Shattuck Arizona Copper! 12 12 12 12 34 Z800 Sinclair Oil & Her 34 31 33 34 61 300 S I.. 49 60 49 60 96 21300 Southern Paclflo 97 97 35 96 26 14000 Southern Railway 26 26 25 25 67 500 Southern Railway pf., 67 67 66 66 87 400 Stromberg' Carburetor 88 38 37 37 46 34200 Htudebaker Corp 48 60 46 46 49 100 Stutz Motor 48 48 48 48 S3 300 Superior Stel Corp ., 32 32 32 32 GOSSIP OF WALL STBEET. raying the riper. The opinion of well Informed traders, 1917. after the close of tho market yesterday, 365,6.-- 2 with respect to the heavy polling of the Day's 13,191,121 rails wns that a great deal of llio weak Year to ness was directly traceable, not to any Clos-In- Net real rather the liquidation, but to uncom Change. fortable position of the shorts In most Closing. Rid. Asked. 2 of tho standard Industrials. The ex 1 planation of the movement In most Qua- rter, 99.06 \ was that tho selling was designed 94.02 not so much to depress the values of the 93.70 rolls as It was to permit the covering of 95.90 outstanding contracts on the short side 96.00 In the ateel and coppers under the cover 95.04 of their weakness. The ruse was fairly 94.98 successful at first, but as tho buying power of the shorts developed, It was U found that little stock was available, and that tho only way In which it could be obtained was through the bidding up of prices, which Is the one thing which the CS 14 Liberty professional element wishes to avoid 18 2 apparently at the present time. S 2 3S Nerr Plan Coming, 111 I. 1 2 The position which the shorts found A themselves In was not Improved either, II when word was passed around the Street IS n In tho last hour that developments of Jt great Importance from a constructive 1 viewpoint were expected from washing-to- n 31 1 shortly In connection with a new 1 plan for the solution of the railroad 1.1 A difficulties. Investigation failed to es- tablish 1A 5 definitely Just what that plan will 1 be, but It Is understood that It wltl be 100 \ the most constructive measure which 1 has jet been proposed to the Senate In 3.1 1 terstate Commerce Committee, which Is 160 2 Investigating the railroad situation rela I Jtfs 99.08 90.00 HI). 08 10 U.SLIbertylst4s 3 .1 00 A 1 02 20 1 3 R A 1 93.74 1 tive to planning new legislation. Fur thermore, the short position was not made any more secure when It was rumored that a majority of the Senators had been sounded in respect to tho plan. nd that It had Minified Its Intention to 1 support It, providing the measure finally be Introduced In Congress. connec- tion with the rumors It was said that 3 the plan would contain something favorable to labor, and that already of the labor leaders had given their \ support to the measure. 1 naltlmorr Ohio Flnnnclnir. 1 1 Directors of the Baltimore and Ohio \ Railroad met yenterday, declaring a dividend of 2 per cent, each on the 1 common and preferred stocks payable March 1 to stock or record on February 28, but withholding information relative 2 the plan for taking care of the maturities on February 1, It s learned In banking circles that these various short obligations would be 1 extended for a period nf several months, Am Forn 58 the War Finance Corporation declining Anclorrench 7; t to participate the transaction. is 12. ...97 understood that most of the obligations, 1 which wero created by bank loans to a 3 large extent, are held by tanks and 1. . banking houses. In consequence the ar- rangement 191... 17 . . 1 of another extension Is not ll.. . expected to be difficult. It was thought lj.. . 1 the declaration of the dividends In- dicated 1.. . 4 that fiome satisfactory arrange- ment \a: . . regarding the notes already had 14... been entered A BO5 Financing Delayed. 1. . 125. . 1 new hitch, has developed in connec- tion 0. . . with the plan of bankers to sell .100. . 1 $10,000,000 Philadelphia Company short 151. . . 1 notes secured by bonds which re- quire 100.. 4. . the creation of a new mortgage, 01. . . tho lawyers that proxies rep- resenting 104.. 53, two-thir- of the preferred stock are needed to ensure the execu- tion Cltyof 1 of the mortgage. The company had 2 obtained proxies for a majority of the Citv common and preferred stocks, but while the former Is sufficient, the company 1 needs some 90,000 shares the preferred 2 against present proxies for 55,000. The 1 special meeting of stockholders Is to be United i held early In February nnd as much 110. . I of the preferred stock Is abroad, the 05 . Paris s l..C...98.V company may find It Impossible to get 60. new . . . . a sumcient number or proxies. Should 054. . . 3 prove be th care tho collateral . . behind the notea would have to come 10. . 1 from the present treasury assets. In any JS 1914 event It is hoped that the formal offer- ing 14.. of the notes will not long be delayed, 10. 1 the price has been agreed upon. 45.. . SHi 1 1 Chile Copper'. Quarter. 2 98 R. . Although production was somewhat 11. . 08 less, a better price average brought up 14. . the net Income of the, Chile Copper Com 08 pany and the Chile Exploration 71 ., . . 1 pany for the third quarter of 1918, com 1 J'4S 1137 pared witii the previous three months. 40 'i combined report of the companies 22.. ..100T snows n surplus ror the quarter ended 1.. September 30 equal to 71 cents a share on the outstanding capital stock of the 1 Chile Copper Company, against 38 cert3 1 ... a share for the previous quarter. Thi 1931 net profit, after depreciation for the third 1 quarter was $3,276,944, an Increase of 1 2 $l,2,0,0i)0, while other Income Increased A 1 10 more than $39,000, making the balance 8 .... \ before amortization, bond Interest, Ac, Japanesest4V4s $3,401,:iT, against $2,091,184 for tho e 1 three previous months. The earnings for the third quarter wero computed on a NYCIty4) May 7 basts of 25.48 cents a pound for copper. 8 while tho second quarter the figure Nor was 23.69 cents a pound. The produc- tion 10.. 1 of the Chile Uxplorntlon Company NY City 1 for the third quarter was 22.398,490 1 pounds, against 21,536,156 pounds dur- ing AmerAgrcvS the quarter ended June 30, 1918. 8 1 An Agr \i ntde and Leather'. Shosrlng. 1 American Hide and Leather's net ings for the three months of 1918, 1 while away behind those for the same quarter of 1917. were about In line wltn ' U expectations. The surplus for the quar- ter ts, registered S. as given In tho report made public Ts, coupon... 911 yesterday was equal to but $2.56 a hre coupon. on tho $13,000,000 preferred .lock, against $4.99 a share In the third quar 4. reentered coupon ter tA the year and $..40 a share for 7. l&nama. 2 the lst quarter of 1917. As shown by Panama. 70, the report, the net earnings for the final Panama, 1 quarter of the year were $498,617, ngalnst Panama, ' $867,5S7 In 1917 and $1,235,337 In 1916. Closing For the six months period ended were no ber 31 the falling off l not so marked. the figures being bolstered to some Alb su. extent by the much better showing made A A Oh A Ilk Note. In the third quarter. Even there, how do pf ever, there is a decline, me surplus ror Am 11 S 1 the half year being equal to $7.55 .1 A BrflpI 1 on tho preferred stock, ngalnst Am Am Coil. F $7.89 a In tho corresponding period A Cot O 1 In 1917, The net earnings for the last six months of the year, after replace- ments, Ice renewals. Federal taxes, Ac, were Am Jin Am Loo $1,312,822. against $1.356,S49 in 1917. AMnltlpo42V4 'i Am Bhln Copper Production Drop.. Am S See A Snuff production of smelter copper In Sur 1 the mines of the United States In De A 8 Tob 3 cember was 5,500,000 pounds under the Am A Wool 11 & figure for November, the aggregate out- put A tT O for the flnat month of tho year being 2d 143,323,311 pounds. In some the Aasnaa the cut not At Hit properties was so pro- nounced At Coast as in others, while In a few Ttatrrpilaa In- stances there was an Increase. The ag- gregate 1 production of twenty leading producers, representing about 73 per cent, of the smelter output of this coun- try South America during tho year Just ended, was 1,763,668,000 pounds, an Increase of approximately 90,000,000 pounds compared with 1917. It was dur- ing 1917 that several leading copper producers were compelled to close down 1 tiecause of labor troubles, thus the pro- duction 1 of the metal In that year was considerably curtailed. Thoso mines which showed an Increase In production 1 for December, compared with November, 1 Included Miami, New Consolidated, Dominion, Calumet and Ilecla and sub- sidiaries, Kennecott. Granby, Chile and Ctrro de Pasco. Of the five companies 3 producing more than 100,000,000 pounds In 1918 Anaconda was In the lead with a total of 297,730,000 pounds. I'helps-Dodg- e comes second with 209,097,626 pounds. The other thrco are Utah. pounds; Calumet and Ilecla, 139,673,610 pounds, and Chile, 103,288,-51- 2 pounds. 1 2 London Money MnrlUet. London, Jan, 21. Money. 3 per cent. Con Can Discount short three months Crex tills, 3 per Cold premium (Tun jpWUWOTtrVJCIti BONDS IN NEW YORK STOCK EXCHANGE. Tuesday, January 21, 1919. 1919. 191S. sales , $12,546,000 $3,583,000 date 176,824,000 74,680,000 RANGES OF LIBERTY BONDS. Open. High. Low. Last. 99.10 Liberty 3s 99.10 99.16 99.06 99.06 94.10 Liberty 1st conv. 4s 94.02 94.08 94.00 94.02 93.80 Liberty 2d 4s rT- - 93.82 93.81 93.70 93.70 93.94 Liberty 3d 4s 95.80 96.01 93.80 95.92 96.10 Liberty 1st conv. 4 96.10 96.10 96.02 96.02 95.06 Liberty 2d conv. 4s 95.02 95.06 94.94 95.06 93.00 Liberty 4tll 4s 94.96 95.00 94.88 93.00 Unit ad States Government BonrJi- - Detailed Transactions (Sales In $1,000 lots.) .1 9.1.70 U S Lib 3d 4 34., ....0.1.041 16. 94.941 10 A 93.70 100 95.84 1.,.....03.90 ns. 91.92 2. A 0.1. 7H 20 9A.S0 ....95.92 60. 94.00 2 10 93.RO 9 n., ..,.95.94 215 94.90 150 12 35 95.84 15., ....95.92 00, 14. 1 9.1.70 A. ..95 82 1DO. ..,.96.90 10. 94.92 S5. OH Ubll4U 1. ..96.80 1., ....95.92 126. 04.001 1 10. .90.10 8. ..06.83 01., ...,93.90 21. 1. fl. . .90.02 .,95.82 42., ....0.1.02 4.1. 94.00 60. a.. .90.04 ... .95.80 10., ....95.00 41. 04.88 2.1. 3.. .90.08 .14. ....95.0S ' 40., ....95.92 25. 04.00 10. 10.. ...90.10 23., .,..96.84 r,,, ....9.190 95. 04.92 A3. 3.. ...90.02 6. ,..,96.80 15. ....95.94 40. 94.94 1.11. is. ...90.12 no. .,.,93.88 1.1., ....95.90 O. .04.00 SO '3. ...90.12 02. ....96.00 25., ..,.95.94 26. .04.94 20 1.., .90.02 89. ....96.84 20., ....96.08 1. .91.90 1. D 8 Lib 4Us 1. ....05.80 .1., .....96.90 17. .04.04 10. SO 95.02 3. . ...98.R2 125., .....95.92 11. ... .04.004 13. 02 0.1.00 21. ....95.84 12., .....9.1.90 S3. ,...01.00 .1. 1.1 10. ....95.8R .....93.92 1. ,,..94.92 25. 40 9.1.02 10. . .93.90 2.,.....95.90 35. ....94.94 :t. 1 94.90 110 .....03.90 2 .,.,94.80 30. 1.1.1. ..0.1.00 15 125.! .....05.02 K! ,...94.91 20.. ...95.06 77.. ,96.80 A., .....96.90 is. ....91.90 24! 19.. ...95.02 85.. .95.88 2., .....05.91 4. ....94.901 1. 8.1. . ...95.04 30.. ...06.80 10., .....95.90 30, ....64.04 1, 11.. ...96.00 20.. ...96.88 85.,.....05.00 29. ....94.90 AO. 1.1.. ...0.1.02 40.. ...0.1.90 A., .....05.00 20. ....94.92 25. 70.. ...96.04 2.. ...95.80 1.,.....05.04 1. ....94.90 1. .12.. ...05.00 3.. ...05.88 15., ,.,..06.00 1. ....04.90 25. ...95.04 15.. ...05.90 10., .....95.88 a. ....04.92 4. 2v'. ...95.00 1.. ...95.92 20. ....05.94 10. a. a,. ...94.00 A.. ...96.90 10.. ....95.90 a. . . . .94.90 11. i.i. . ...95.00 1. . ...05.88 .8. ....05.88 AO. ....04.00 60. 17.. ...94.04 1.. 1. . ..95.90 25. '14.02 32. 20.. ...95.02 ., . 75 95 94 4 01. or, 4. 311.. ...95.04 in. . ...05.94 1 IS R8 .1 . 04.02 46. 19.. ...1)5.00 10.. . ..05.90 I . ...950 0(1 04.00 35. 211 . . ...05.01 17.. ... t)5.90 ao. ....96.83 8(1 02. 7.1. . ...115.00 20,. ...05.94 Ml.. ....95.02 91.90 160. 27.. ...94.90 38. ...95.90 loo.,.....95.91 04.98 25. 20.. ...0.1.0- -' 60 li., ....95.S8 .10. ....04.90 1. o.-- ,.. ...95.04 O 95.98 40., .....95.80 68 ....04.04 8. 2.1. . ...115.00 40 90.04 20., .....115.02 ....01.90 1(1. O.. ...95.00 96.00 US I. ,ib 4th 4I 164. ....91.91 40. A.. ...95.04 3 95.04 34., .....04.00 A. ....04.02 U H 60. . ...0S.O6 6 90.02 107., 04.98 SO. ... 01.94 a. .1.. ...95.00 IS 95.94 30., 94.90 35. ....94.02 10. 60. . ...95.00 S fi., 04.02ll47. ....94.90 Railroad, Industrial, Foreign Government! and Other Bonds, (Sales In $1,000 lots.) 90.10 oo.ns 90.14 90.01 90.10 90.18 99.10 oo. os 99.00 99.00 90.0S 99.10 99.12 99.00 90.08 90.00 fit). 10 99.00 99.10 90.10 99.00 94.02 94 94.04 P4.0S SO 04.00 1 94.04 04 CSUbertyM 4 0.1. t2 .10 17 9.1.70 93.7H 12 0.1.7(1 93.7S 35 93.SO IS D.1.S2 A 93.81 03.82 0.1.70 93.73 In also most A to teim In It S. that Into. fis A term FrendiHeol!s discovering a.. 3 2 of held Lyons Is 1003s of 98I4 1911 that to 1 63 as 3 Its Com The 17 in earn last 2. up last C Amer Exnr Am Am of It and Old and , 11H., 95.80 93.73 04.04 04.88 A. 3d 320,, 96.88 2 96.90 04.94 05.90 04.98 Pfl.OO 25 95.93 99.10 Sec ! AmllldeAL 4s ctiiRiarny 4s Int M Marine t NY S AW fd Js Sinclair I . . inn 18 70 2.1 07lj I 7SU 15 AmSmellAH Ss Oil RtAP reris 1 07I4 Norf.tWI'ocals .1 A 92 1 73 1 ....0713 1 SO 2 97U Am TAT rv 10 74a a . . . .97 Nnrthcml'ae 4 1 97I4 10 IOII4 Chi A W Ind 4s : 0713 1 84I2 97 1 1013, 2 6.1I4 CllyTer 4 0 . . .84 3 ..07U 33 IOII9 1 0.1 1 77 NorthemPac ss .07 0 3 . . ..1016a Chile Copper 7s Laclede Gas 5 1 CO'a 4 . .07 AmTAT clt Js 2 10714 6. . .. . .snij OrShortLIne Cs 1 . .973s 7 92IB 1 looa Lehikh Vat i 2 101 aoutnern 97 0 1 VJ Chile Copper 6s rets OrShortLlne s AmTitT clt 4 10 R3 30 . . . 102 3 0R7g 2 . .97 I S4ia 2 R2lj Llfgett A M rc Tel A T Ss South ...07U 1 st : J ext pt pd 0 . . 113 5 043 14 97 10 R4l 2 84 LlKKett A JI 3i Penna Ji I9SD in Am Tobacco 4s CCCASlL 4Hs 1 03I3 2. . 97a. 2 04 2 ....721a1 1 . ...7812 Lou Nash 4. 27. 0V Stand .104 AT ASF gen 4s Con (las cv es 3 .:...rau 16 . .9013 r .104 2 S4'S 2.1 101 Lou A N Stl. 10 . .90-1- 8 .104 r 84 A . . . .lOOHl 1 . . . moU 1R 05S 24 . .104 1 S.H4 1 IOOI4 LAN AKAO 4s 4 . .0012 10. .104 AtCoastLIne 4s 6 lOOla a. . . -- 8I41 10 .90U .11. ...10418 1 R4 Corn Trod Js UlchStateTelJ. U . .93s 37. . .104 Be O X 1t 2. ...100 4 90 20. . OSU . .1041(1 1 8H3 Cumb Tel Ss MklraleSteel U 24 .96ls 40. .104 U CT4MS 7 03I4 1 87 . .90 10. 18 77 DelAHud rr it 2 R7lj 14 . 06lg 35. a 7014! 3 05 \0 87lR 19. . 00 10. 1. ... T778 DenARO ref Js Minn A SI I, 41 . .08 140. Bait AO goldNsi-i- n 53 2. .... 44 21 00 10. 1 7H liiUia 1 li JSl AS llo raclnc eon Penna gtn 4HaA 15. 9S78 BalMOhlo 3ijs 1 941s 1 99V 1 ssU 1 .90 10. . .. . .88 Elkhorn Fuel 5s Jlorac is 1913 1'eoua.KXU con 4'.. 083(1 b t O I' I, i; 1 95 10 911 1 101 Klnulm V VIII 1st con 7s alo Tac gm 4s Pere Jtarq J A fo.: 0 7414 I. . .loots A .onu 1. . .80 it. 1001 Dkn Rap Tr iv Erlecv 4s ser 1) 6 . 00 Peru Jtarq 4 n 100I4 6 8OI3 1 50U 1 . . .V)?8 1 71 ThlrdAv 1001s 1 .... 8OI4 7 . SO 1 . . . on 1 ... .704 a IOOU 1 .. .sou Erla .en 4s 2. . .1912 Tierce Oil Cl 1 .10(1(1 34 ... 80 1 . . OJ3 4 . . . . OO 1914 .1 100U 7. . 70 Oen Electric Js 1 . ....V)tj 02 2 . 1001s Cen Leather 3s 3 ... 0734 4 . . M'H .9113 28 4 . . . 9012 Great Nor 4is Jlont rwr .' HI CentPadBc 1st 1 8(1 2 o.Hs 01 II 1 RO?s auirasnipisi ss 2 .... ti.i .0112 I Chea a Ohio Is A 80 NOTexA Jl ssA Stl, A Iron JI Ss Un 4 O8I4 Hud M rdg 10 97 2 ....9612 5 98U 2 Ot Is Series A 2 98l3 Stl. A IrcmM 4 Un 4 IOOU 2 58 N Y Cendrb 4. 1 ... sola 9 .9818 C A O cv Js 41 HudAMari adj 11. .08 StLA SsnFran 28 5. .8538 11 17 4. . . .98U1 Series A 1 .9Slg 15. . . 8.II3 1.. 17U 14 . . . .98 .', .... 60ta 1 10 . 85 Illinois Stl 4Ws 2. . . 98U 2 SOU A .981s 1 . .8478 10 . . 84 10. . . .98 1 OOlg .ss.-i-i- a 10 . . S5 ImllanaSteel is 2 . . . OOU SO . . .OSlg .1. . . S43t 1 90U 24. . . .08U StLA San Fran 7 10014 1 . . .84I3 Interb R T ref Series II A 2. 843g is mi NYCAStLdh4s A 77 1 1 721a C A O cv 4Hs A eo'3 Stl, A San Fran 9. . 7R A . . . . 69U NYNHAH4 33 adl .1 Cn A Q joint 4 11 69 1 38'g 4 ... .6t2 5.. 971(1 31 H3U 6 . . .OOts NYNIlAH4s J 10 0.1141 U H 96l2 I 95Aa 10 68.14 1 .18 2 H.ltg Chi U AO 111 4s 10 2 . .1913 5 6.1 1 9778 .1 8.1 8 6814 NY Ont A W 4s StLA Sau Fran IT H OS I C B AQ Neb 4s .1. . .60 1 . . .Ml lnc I 10 . . . . N Y It) s adj 3 0761 4 0.1UI 1 68I4 2 417gi 1. 97'8 Chi Gt West 4 10. . ..697S 1 1.118 StLouls S1V ut, .14 98 9 6034 4 . . .693s 4 13 1. S3 72 10 ....r.0'21 6. . . .oolg N Y Kys ref 4 4 1 3 .. 87 i.mina,ti.Hi ss interboro-Me- t ..4Ha Reabd A 1. ad) U fl 1 103 col trust 414 1 411l 100 1001-1- 0 100 Itll ..IOOU Dom Canada Js Decem aharo ...95.90 1 .'.dig . ... S7 CMAStP cv J, 2 . . ..1U NY Tel Km 44 .1 . . .1014, 1 ,R 1 . . .so-,- 1 sov fl . . .'0i ..IOOI4 C JI AStl'gm, 40. ... 30U II . . 8013 0 . ..MiU 4ljs 10. . ..T Norf A V r 10 . . .10 ..100'S 3 84IS1 20 .10U when lsst:el i .407g 4ts tl C M A St 1 cv 20 .1ig 100 4 30 39I3 I 77 I III 39?4 I .. . 763g, Int Agr J OS 1 701 A 7R3g deb J CA N Warn Ss 11 7R 100 1 1 001 3 3 7S8 Govt. Honds. . Js. 1916 . ... Js. registered. 194. . . 4, share Total do ..07U pf.. .. . .. .. s A 10SU .10 . lOOIg SollellTATel . 00U: 1 . . 92 in. . 1061s Soiiihl'ac 4 30 . . 5 . 10634 1 S.H4 . S BID AND ASKED QUOTATIONS. Jan 11. 'Jl. Bid. Asked. Plil. ITtul.Askrd. 8tmlehk . NYCASlL . : Sun Stl 1st Third NYDoi-- pt 40 IM'i lOS'.i Norfolk 13 304 1W NorfAW pf registered.. 94 North Am. regis.. M 3 Nova S stl. coupon . . it Onio Fuel.. t.\a rerlttered... H Ont Sliver . 6 OsensllOM 4 prirea stocks in whloh there do pf ...104 JS transactions yesterday: Pae Coast.. 40 Bid.Asked. do lit pf. I'M Jlid.Aiked. do pf.. GS 11 Deere nr.. . ? 9l Pan Am pf .117 ir Det Edison.UO 117 Peoples Gas 41'4 47 IM&Mai'k.. I'eona 4! 4 4 Iet Tnlied. ks Pere Ma pf 44 Dill SS A .1 3.j do p p... C5 do pf & Pet -- Mill.... V. 41 115 Etk Horn ZT'J a do pf s, l') do pf ... 354 41 PierceA pf.103 v: i: Htor. . M M Pill ft pf . S4 l'i Jl Erie Pitts.. .. 7(1 PltlFtWAO.1.13 Fed & 8 9 11 Stl pf. so i do pf an sr.; PAWVa pf. 10134 Fisher Body .17 PrStlCar pf.ioo 103 do pf 93i Pub 5pv . si pf. 8S4, 3:V 41 pf .IF Pf.'lJ pf St is) 61 pf. M pf.101 l'l pf HO pf.lll pf 93 17-3- 2 10. pf. ilo Id 80 of Id 4J4 4 P. roasts WhAI.E 142 Gen t:heoi,.lM 175 RyStlSp pf.100'4 107 P34 pf.. ..103 URSen 111 Gen Cir nf. l(s Urn pUno'-- i 13 Goodrich pf.iom IM'i neaa st'-- 8MJ .11 & n Siaon Miit, \'I 7' pf . .. an tWr U prill IW'l lpf 99'4 Slo-S- h ! llartman StL&SF pf Harves .114 SolVwtoStur lfo 134 73 111; 107 Stand .Mill lli Int Asti.... HVi 13 .... Int pf tl'i rORRION 114 Ball . C2 GOVKIlNMEuNT Cent . New Stuck KsrhanK. Ttif. anntstlons. Accrued Interest Is 194 Kel 10O iu.,e iiiit-i- , S3 Kel Mill UNITED STATES. Keo M 3 r, pf I'hlllppln llandii pur Kresre 8 S.,1(K Philippine Islands puh k 72!i do .. 1(T, Philippine Islands pub wk 4s. KresjSH pf.lK'4 Ulstxlct of Columbia 0is..,.. 111 Kinrs Kl . 101UUGN. Leo Tire..., SlU r5 Forelfn Sen Co Uir M...1W Anlo.Preui-f- i Extern 6,1, do pf Argentine 1943 63 Lorlllsr.1 pf.100 Canada, Dominion U. iszi iXHjse-vvii- e. 4.'aiiada, Dominion of, So 1st K.Vi Canada, Dominion do 2d pf.. iiii Canada, Alberta Province 4iyi, tin Lou Naa,lU4 4 i uincsin 1, on liu lUf Jty Man Beach. Si a Cub i:tern 1944 tihlrt.. (7 Cuba Eitern 6s, tone. A, 1349 pf 109 Cuba listeni 1949.,, joi Mark ay 70i .7f\i Domlnlran IteimMIc 6s. iH Marltn II... 71 French Bepubllo conv &',4, 1919 13 Math Alk.. 43'i French, llonteaut 1919 1.14 MayDSt pf.IM Flench, l.rons City ns, Maxol 3 1914 JO French, Jlsrecllles City 1919 Tet pf.103'4 Vnnch, City K .. Mloh Cen.. Japanese, c pf !4I4 IPf H pf.. C9 A I, 97 IS rtald L pf..lol Barrett pf..HO Ueth Steel.. fA!i do Vfr. . 90 Ttooth Fish. 19 Ilkn Rap T. Dkn Un Gas f.1 Brown Shoo do pf Mil Buff It A 66 do pf Ttumsnr pf.ll Push Term. Ilutio Zinc Cal Pet pf.. Cal Arli. 69 Can South, Cent Ftr. 17 do pf si ORTl of NJ.an ORoA T...U4 Cert VtoA.. 1st U Chan Mot,,10 CM It Alt.. 7 do Pt CNW pf..!SUi CdCAfltl.lit KK, CleTeaV.Pilta 63V4 Peabody. fs; do pf Col Fuel pf.102 Oil 9 Ipf do 2d pt.. 4li Comp Tsh.. St al'an Cot rates, cent. A I. Kan 7s A 11 Trie A r.67s 6. is IO6I3 8H3 1003 83I3 Jan. Asked. N Y & W. 100 si ii fi M uo to V) Pac s: pi.. 4J 7:n 41 IS .'3 (4 H .13 47 (S M A: B St 4) & K,\ V Klv M Pitt M, .... 74 IS 42 44 M X6 r. A ',1 in it 34 7S ;) 42 44 M P0 H 7J 91 ai uuir tt 94 S7 et IJ 43 41 to PS ss W Nick 91 fl M lotk Pi M T 90 ta 90 71 lir:' 94 67 fi. Intern M 41 a 34 & 11 tt V City 1' 75 SO Mex M 1,5 61 21 M T 90 A 41 C 10 A Con rv L T 13 K M 4'4s steriinir In, MStPAsSM 1 jspinese i.nvt trrlra, do jif .,..100 ICS Jspsnrsa stcrllnt I,... 41 Mon 10 .upanese, Tokio City ts, 1M2 .. pf.104 1'n Klnc, (It ft Ir 5 yr t's, NashC&StLllO HO Klnsr, (It A lr yr S',s, His pf 1,-- rn Klnc, lit II. fc 1r Clk A .8 ;o Ktiux, llr Ir yr 6',, pf. 11 NatEi-- S pf. 91 FOKElc.N JIuMio DU.S.LI' Nat pf..U ,. Mexieo Bxtern stcrUnc Cs of t9, iV'r.ails, to 1931 3M1 ni 104'i lST'i Insur tn Carpet 47 W snjr.uo ica D. GUGGENHEIM OUT AS SMELTERS HEAD Succeeded toy Brother .Simon, Clinirman of Hoard of Dircctcrs. 1917. $4,322,000 97,551,000 Net digs. .04 .02 .08 .04 STAYS IX THE COMPANY .02 Circular Stockholders IFn? Intimation of Plans of 04.96 04.00 04.00 Importance. 04.00 04.02 01.00 94.90 Pinion GUKKenhelm, formerly n ! 94.94 States Senator from Colorado, who , 94.00 been chairman of tho directors is 94.92 American SincltltiK nnd Itcflnlnit it 11. 94.90 94.92 pany, has been elected president His 94.00 company, succeeding his brother, ll.it 91.04 Ouggenhclm, whoso retirement fr nn 94.90 onieo nnnounccd yesterday Is helieveil 'o 1)4.02 In lino with a plan for gradual wnli. IM.04 04.00 drrfwal from active business. Other 04.00 chrlncci In the orsraulzatlon are llie rn. 04.00 tlrcment of S. 11. iUKKeuhelm, rlialrinan 94.92 of tho executive committee, and 91.00 chairman of the llnat 04.04 04.90 commltteo. Hoth Daniel (JuKCcnhrirri 94.90 and Murry Guggenheim will continue in 94.92 directorate. Edgar L. Nenhous lina 94.94 been named chairman of the hoard of 94.98 04.90 directors and Simon GugKctiholm chair- man 04.98 of the executive committee. 01.04 That several Important plans are u. 94.92 der consideration by new c.r-ti- i r 94.94 wns Intimated In the circular nddre ,i-- 1 94.00 04.94 by tho retiring president to the n 94.92 holders of the company. 94.98 No hint of what the plans micb' in . .. .01.94 was given, but ho pointed out in 91.90 04.98 respect that \those nueceeding to our .....95.00 positions contemplating putting n.'o 01.04 effect many excellent plans which II 94.00 bo of prltno Importance unit which will, 04.08 03.00 I believe, Insuro their signal surd\ la Is cnim directing tho nffalrs ot the companies \ . . . .IOIU . . . .10411 Treillct. TlrlRht I'liture. In his circular, Daniel Guggennclm expressed great optimism In what future may hold for tho company. Us points out that thcro some diff- icult problems of reconstruction whira must met nnd that \somo difficult Oil Ts .... 9.W4 months may expected.\ lie rlrrlaic, on however, that the cnormoua demand for raw material, which must made 0534 an omen of greatest prosperity for ' s warrants 09I1 company, and his predictions SouthPac 4s futuro are bright. R2lj \For many years,\ the retiring prI 821l dent said In his letter apprising st' y 51 holders of his decision to retire, 'ti s 95 senior members of the firm of Guggen 46 heim Hrotliers hnvo been tho dominant r.7is factors the manngenient of tho a'- - 07U fairs of the American Smelting nnd T. . . Mill's 07 fining Company and of Amer an 93 Smelters Securities Company, ami havs SouthPac cv Ss occupied a number of tlio most itnpo-- - 101 tant official positions in those compel. ies. 10014 'They feel that If the companies ,t- 10012 to retain nnd Improve theln bURlnes-- - po- sitions 1003s 1001s It Is advisable! to turn over t s . liKiia and control to youiiB-- a 1 . 1003s more acgrcsslve men. They belloio that . 100U the time has now arrived when they am . . lOOIg warranted making a change In tho . 10018 management the companies, and It . 100 has been decided that three of tho older . 10012 members of the firm Guggenheim . 100 Hrotliers fcnuuld retire that tho otllres loots of president and chairmen of the execu IOOU ioo'j tive, nnd finance committees may u ini3i filled by others.\ adj vaU Remain Without Cnmfirnsntlnn. 28 In his circular to (stockholders Damsl . . . 2Sl3 Guggenheim says' . 8 It l the Intention of Murry (iupgen- - t.nlonl'acinr 4s helm and myself to lemaiu members \f 87l 88 the board of directors and place F.lecLAI' Js services at tho disposal of tho com 02 panies In an advisory capacity without Pac 10-- compensation. 104U \In making the chnngen we are dm x so at time When tho earnings o' ' 1 104U 104lg last fiscal year are Mtlsfactory and ' 104 finances ot tho companies In ca A.... 1042 lent liape. Ah to the immediate fu' e, Unlonl'ac cv 4 because of tho problems of i -- tlmi S7\2 S718 confronting tho wholo wirld. ' . . 8713 difllcult months may bo expected. 1 t CSRealtyAI Js am a great optlmlft as to the fun 02 based upon the enormous deniaix' ' . .fllti must bo made for raw materials. KUUber . . . is demands will be felt ns soon as th .a' - 102.14 business interests lcallre that pr Rubber J ard supplies arc at :i Inn- - pbb. 8614 \Thoso Kiiccecding to our posltlo 1 8r,i coiiteinpl.itlng putting into effect m- v URHmeltlnuss evcellent plans, which will of ... 00 Importance, and which will, I In Steel if Ss insure their signal success in dm ' X .... tho nffalrs of tho companies. 1 ... 0')7g \During tho jenrs of my pres d. Wabash ... 11 100 many important reforms In the 98 have been Inaugiirnted, and i.onc i s 10 . . .'J7U Important, in my judgment, than p. 1 estl'arlDV t ting Its Imimrtant managing nnd \p -- ating 1 R5 ofllclals and emploic a Wilson A Co 4 07\2 Hon In tho profits of the romps J t consider this an opportuune timo oc. , js of Homo unfriendly Intimations have reached from a few jin', of the I'onip.inies, to stale r , . member of the tlrm of fluggoi'he ni ' has ever p.irtlclp.itcl In any w.i t ' Bid.Asked, such distribution of profits\ nf 92 7 in Offer Porlo Itlct SiiKnr MocU. A syndicate) composed of Strung . giss & Co. and Colgate, Parker ' ' offering' H. 003. 000 Soutli Ton Sugar S pr cent, cumulative p\' I 9 stock 107 and mvrued d, d- ss'.i 5'ield 7.43 per rent. Tiio pr,,vei.,'- - s:Uo will used to provide- Bi 12J i:: working capital nnl cane ilar' , tho company's Santo Domins\ l ' The company's operating pp.tl1 ' 1M 1.3 year ended optcmber 30, u: 21 gated 52.fi01.SM. or M- - nial .1 ... ' M dividend requirements on Its ' n slock. 3 17 Canadian Northern lliinil IIITrrl'm- - 14' 4' William A. Head A cf\ $7,500,000 nf equipment tru't r,. gold certificates, scries ll'l ' Canadian TCothcrn lt.nln,i 'I 73' tlflcatcs are ifsued aganint new f niuipinent coating $10,716,911, t tl way company thus niak ng n\ 19 ?) Ii.ijmcnt of 3,21fi,01l. V \.i To payment l.y tho company ru. ment of 10 por cent, of the 1 ' \ each year hogluning six n.\nll \i d.Uo of lfHiio more than DO v ' ' ' th cost of the equipment win li 0 '' paid within thrco years. (Inn to Tint. Ilnnk Comiurri'e SB4:UniTlBS, Goiernraent David 1. Penny. nisUnart 0 to bo added to of the foreign exchange divtsi m ' Federal Itesorvo Hoard. l::n been c a of the Vati a of Commcrco In Now Yorl- - \Investment Opportunitti i\ P7U This fortnlahtly publication should a 90 valuable aicf tn the selection of n If!, Hit ketable securities. 7S Alk for fret copy 1IC4. 94 IS. 9fi, II Wi p.)', 40 Fxchanno 1'laiV. i'hunrs Brnvi 4 ICS 111S h,', Mark A. NntiU 'lliroilnre ( (nmli ., S7 ... . ii'i ''. NOBLE & CORWIN l'': p.ll, ts II rood St. Nrn lor I. 1919, in ll\ 19M s.i; Chase Nat. Bk- - Hordcn's Cm 1937.10J'4 IN FLAT lOvf. Nat. Bk. Commerce OtisElevs'\r 19U M 7D Trleption. 1111 ISmad, Pf 95 I. T.W An. 13i TnlewaterO.:n TolSlLAW.. .. do pf 10 do ct do pf ot.. Trans IV. 3TVj Twin City.. do pf... . 70 I'lidTwood 117 do pf 110 I' Hay A pf 11.) UiiOns 1 fl do 'd pf . sr, Un Djowd so tif.. . Un rty Inv. lo pf .... 15I, USCTPipe. . 13W do pt.. ., ft ah Sec. . 19Ai PSSmelt pf Yi. I C 4 C 67 1 a It lc IV. . . W\ah p n. 1SH Wells Far.. Wiwths 1 pf W M,i 2 pf. -- 0 West Pac. . IT Wilon pf.. 1VIH)-- 0 pf ttvi Wl Cen . . wibrtii Jt. r.t ilo pf A . Sfi do pf n . 6c; En dividend do 107 1D1 Stl pi. 7 do IV. Gulf SS pt .. 6l'i CS pf. lis Sc . pf. HO Homesiake. 1JO 97 do pf 14 pf 17 Int P at. Int (2 Ioa 3' 4 .lev. el 90 flp pf pf tr, 4 I) do Ind KM U, pf Co A U, 1919 iXO 10s of, 193(1 pf. of, 1931 111 fcs, 6s, Man 71 do 196S .. 6s. 1910 i( f, l'srls 1921 Ct SSU Oil 7V4 do pt, very ' \M- - Askei 19.14., 89 19S3., S3 19SS., f9 w 6 lHil,,,. TO SrtU j 90 101 ... ion .. .. imij ... .joni; . li.. liovt sr. , 21 novt 4s In. do I, Pr llr Un llr 3 Nat lis f. t 5' Nat A Cn lit A: So dn toa Ld I l 1920 41 pf to 1 of of iel bo s the the I nro ins nro bo be bo for s ref W'H Ry gm In tho Js in ino of of 3 cur 104 aJ 1 1110 10.1 ous bo ion 1 bu 1 1st mi at ho ('. s o j r. H. 44 SI 1 tl nf lwnil II. il 4 70 mi. pf do :i; pf. jnj 4s, Am Ca, 97! Wi jkiii 9i, S7'-- j