{ title: 'The sun. (New York [N.Y.]) 1916-1920, October 22, 1919, Page 17, Image 17', 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/sn83030431/1919-10-22/ed-1/seq-17/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83030431/1919-10-22/ed-1/seq-17.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83030431/1919-10-22/ed-1/seq-17/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83030431/1919-10-22/ed-1/seq-17/ocr.txt', label: 'text/plain', meta: '', }, ] }
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t f 0 OFFER PUBLIC DEW BRITISH LOAH liircc and Ten Year Notes, in stock change members and in, to will Incrcaso Capital Stock 50 AH $250,000,000, to Bo Sold BOTH YIELD OVER G P. 0. ' Of through their natural channels. Syndicate Benches From Coast to Coast. jrilisn w.r . . VMara & Smyth. silmbUK tnd ten year loan, win do o\crc puu- -, H ,0 & st,eslltz. c. P Holzdorber morn ng. It n CIpW8 & Co . percy Uullard o Bounced ycsieruii.. i mu Morgan & Co., nt 98 and Interest, yield- ing about 6Y Per cent., for tljo three rotes, and 96U and Interest, ti.Minr sllehtly more than 6 cent., I. ro . j. Tiir nf Tnii.-.- '. nnhin. . . . wnM.1 .U.n nn oiih- - icrlptlons are being received and the early reports Indicate that tho offering Hill prove to bo a pronounced success. The members the underwriting which Is nationwide, are as All- ows: J. P. Morgan & Co., tho First National Bank, the National City Com- pany, tjio Guaranty Trust Company, tho Bankers Trust Company, the Chase al nank. the Natlonnl Bank of Com- merce, the Liberty National Bank, the Equitable Trust Company, the Central! Union Trust Company, th.e Fnrmers lan and Trust Company, Karris, Forbes Co, William A. Bead & Co.. Brown Hros. & Co.. Lazard Frcrcs, J. W. Sellgman & Co.. Kidder. Peabody & Co.. J.ee. Hlgglnson & Co.. Halsey, Stuart & Co., Kissel, Klnnlcutt & Co., White, Weld & Co., and the Continental and Commercial Trust and Savings Bank, the Central Company of Illinois, the First Trust and Savings Bank, tho Illinois Trust and Savings Bank Chi- cago, the First National Bank, the Na- tional Shawmut Bank, the Old Colpny Trust Company Boston, the First National Bank St. Louis, the Union Trust Company1 of Pittsburg, the First National Bank of Cleveland, the First National Bank of Cincinnati, the First and Old Detroit National Bank of De- troit, tha Anglo and London-Part- s Na- tional Rank San Francisco and tha Whitney-Centr- ' Trust and Savings Btnk of New Orleans'. Bankers declared yesterday that the sew British loan furnishes a test of the attitude' of the' Investing public1 In the United States toward the ctxenslon of foreign loans and that It Is merely the .forerunner of additional foreign credits on a large scale. It was said further that bankers were determined to gd ahead with largo projects Irrespective of iprogress In connection with the ratificat- ion of the peaco treaty or the League f Nations. . Detnlla of Loan,, In connection wltK the 2BO,000,000 British loan J. P. Morgan & .Co. issued yesterday this statement: The n,cw British loan, which will be publicly offered on Thursday and for wbloh advance .subscriptions are being received, is divided Into two issues, a three year note, dated November 1, 1919, and due November 1, 1922, and a ten year bond; dated November 1, 1919, and due August ,1, 1929. fnterect on both Issues Is payable on February 1 and August 1 at the rate of 5 per cent \The Issue price on the three year notes is to be and Interest, yielding about iS'i per cent, and on the ten year bonds at 96 tj and Interest, yielding slights over .6. per cqtit Poth principal and interest are to be payable In dollars In the city of New Tork without deduc- tion for any British taxes, present or fu- ture. \While the Interest yield on these bonds and notes is attractive, the feature which will probably most Impress the American Investing public. Is the con- version privilege. Both the three year notes and the ten year bonds may, at the option of the holder, bo converted at par and interest Into British National War bonds. Fourth series, due February 1, 1929, at par and interest, sterling exchange being figured for the purpose of conversion at tho fixed rate of J 4.30 to the pound. The British National War bonds were Issued In London at 100 and are now quoted in London 9S',i. Thej are payable at maturley at 1C0. Conversion Plan. Such conversion may be made the cafe of the ten year bonds any time prior to February 1, 1929, and In the cue of the three year notes any time prior to their maturity. Upon such conversion the converting send holder, or note holder, will be entitled to receive 222 12s., principal amount of such national war bonds (and, or Inscribed stock) for every i.ooo principal amount of ten year bonds or three year notes surrendered. Details of conversion arrangement) and provision for handling fractions will be announced soon. The national war 5 per cent, bonds, Fourth series, are payable in sterling at 105 per cent on February 1, 1923, by tha Bank .England. They are ac- tively traded In on tho London Stock Exchange and are quoted nt 98 H bid, ottered at 98, at which price they yield, held to maturity, approximately 5.70 per cent The following table shows the amounts which a holder of bonds, or notes, of that Issue would realize In dol- lars, assuming that such national war 6 per cent bonds wero sold In the Lon- don market at 100 or were paid at maturity at 105 and tho proceeds .con-erte- d Into dollars at varying rates of exchange: AMOUNT REALIZED FOIt 1100 Or IIONDS OK NOTES. Baaed on isle of Based on\ of National tvar Maturity Value Etrhinm. Bonds at 100. of 103. 40 $100 I10S 0 102.34 10T.40 4.50 104.07 100 00 4 100 00 1J2.34 4 TO 100.82 114.70 52 1H 04 11T.H2 4 8A3 (parity) 118.19 118 83 The prospectus descriptive of tho na- tional war 5 per cent bonds, Fourth series. Pyab!e on February 1, 1929, at 105 jr o.n -- ,..!, prrt. \Bonds 0f this wue and the Interest payable from time to time In respect thereof will be ex- empt from all British taxation, present er future, so long as It Is shown In tho manner directed by the Treasury that mey are In the beneficial ownership of a person who Is neither domiciled nor ordi- narily resident In tho United Kingdom.\ CENTRAL LFATHER REPORT. nrplns, After Charges and Fed-er- al Taxes, Is, 4,012,10B. The Central September 10, showing a surplus, af. 11 .,im Fedral taxes, nf 44,-111- 1. against $4,239,345 In the pn. slml ,,u\rt\ nn, $1,909,163 In the th vawimiia jjur snare on in \ t0C ere fl\\l St $8.63 ,'!'.u\1\\ cnaea Heptembtr 30. \\\\! naed on June inV ....,rT 30 . . . . HAS ROOSEVELT COMMITTEE. Stock ISxchanste Selects Members to Ala Mcmorlnl fI)rlve. A Stock Kxclmnpo commltteo of tlio Roosevelt Memorial Association lias been mimed call on all New York I mako their subscriptions to the Rooso-vo- lt fund through their own commit- tee. Similar committees have been loaned In various parts of the country, not to solicit contributions, but with the UTnTma rtm timnntrirnTTirmo l Idea that an organization which will uluI\o iw o J. uunaiuuixjiwa reach every ono will give those desiring i 'Membership Underwriting Mats of John P. drier of C. D. Barney & Co., chairman; V. Starr of Morgan, Llvermore Ss Co.; U M. Joscphthal of Josephthal & Co. ; ll. II. Chllds of Clark, Child & Co.; W. a Anderson of Ander- - ron. nruns & Co. ; D. W. Smyth of Fllor, of of !lc- - an-- . llcmy at of Trust. of of of of 98 In at at of nVnUT )n to T. Mlor, Bullard & Smyth; Kal. de Saint Phallo of Gude. Vlnmlll4 Co.: Stuv vtfant Fish, Jr of. .Callaway,. Feh & fO. T . Mnlnnev n. llfnnU Hfnlnnai,' per A v. son ; J. U Lllllcnthal of Hlrsch. Lllllen- - uiai & co; Qi c. areenway, Jr.; n. D. Wrenn of Wrenn Bros. & Co.; It Con- -, lent of IL Content & Co.; George B. Post. Jr.,, of Post & Flagg; M. Gavin of Montgomery & Co'. ; E. P. Currier of llontjfomery & Co. ; J. Wasserman of Wasserman Bros. ; J. II. Melllck, C. B. Buchanan, C, K. Knoblauch, Allen Llndley of Llndley & Co, J. U Wordcn, Henry Bull of Harrlman & Co. BANKERS LEND TO . OMSK GOVERNMENT Loan Is $40,000,000, of Which $22,000,000 Is Obtained in United States. The first loan by American bankers to any Interests In Russia since the rise of tho Bolshevists and tho default In pay- ment of principal and Interest on -- notes of the old BuHslan Gov- ernment Is being consummated, but the loan Is being made to the new Russian Government at Omsk and is sepured dol- lar for dollar by deposit of gold In Brit- ish custody In Hong Kong. The amount Is $40,000,000, of which the American participation Is $22,000,000 to $25,000,-00- 0, and tho .British firm of Baring Bros. & Co., Ltd., Is to handle the balance. The American banking group Is headed by Kidder, Peabody & Co., with whom are associated the Guaranty Trust Com- pany and the National City Bank. A local banking underwriting syndicate la being formed to make a publlo offering of the loan In the form of short term se- curities. The following statement was Issued yesterday by Charles Sargent of the firm of Kidder, Peabody & Co. : \A group consisting of Kidder, Pea- body & Co., the Guaranty Trust Com- pany and the National City Bank, \have In conjunction with Baring Bros. & Co. Ltd., London, agreed to make a loan of approximately $40,000,000 to the Omsk Government. The loan will take the form of a short time credit, secured by gold bars and coin deposited In Hong Kong. It is expected that a syndicate will be fornied to make a public offering of this loan.\ The\ proceeds of tho loan to the Rus- sians, whose seat of Government is at Omsk, It Is expoctc-d- , will aid the forces which appear to have gained ground against the Bolshevists. Despite\ the im- provement of the p6sltlon-o- f the Russian people, whoso adminUtratlvo headquar-- . ters arc at Omsk, the Br'tlsh and can bankers are demanding deposit of the best security In the world In return for extension of even a short time credit In taking that .step the bankers were guided by experience In connection with previous loans to Russia. Tho first loan to Russia following the outbreak of the war took tho form of a $50,000,000 cred't to the Imperial Rus' Man Government. Issued on June 14, 1916, to run for threo years, with Intei-c- st piyments nt l1 rato of H per nt. a year. That credit was extended duly, and Interest payments were made regu- larly from nome mysterious source until last June, the time .for payment of prin- cipal and 'nterest. The records show that the final Interest was paid, but the principal was defaulted and the interests of Investors ore be;ng watched by a. pro- tective committee, which can do little pending establishment of a stable All- -, Russian Government The bankers who managed the extensloh of the credit were J. P .Morgan & Co., the National City \Bank the Guaranty Trust lllgglnson & Co. ond Kidder, Peabody & Co. t In Novemoer, 1916, a. syndicate of American bankers sold to Investors of Imper'al Russian Government five year 54 per cent bonds Those securities are due cn December 1, 1921, and their Interest has been pair regularly to date The United States Government has extonded credit to the Russian Gov- ernment for purchases In this country, the amount of tho extension exceeding $100,0.00,000. LONDON STOCK MARKET. llmlnrsi Aanlu on Fntr Scale In Several Sections. Bptcial Cable Despatch to The Sex fom tie London Timet Bentce. Copyright, ISIS ; all raM reiervei. London', Oct 21. The stock markets had a subdued appearance, althoivrh In several sections of the house business was again on a fair scale. Sudan loan scrip advanced further and Peruvian corporation stocks and Argentine rolls were firm. Rubbers continued to meet with support and there was appreciable rise In cotton, while diamonds continued upward. There was nealn a demand for Amer- ican breweries, Milwaukee rising 7. New York 1, St Louis debenture 4, ordinary and preference shares i each. There was no change In market con- ditions except that money appeared to be easier than ever. Weekly money was offered at S$4 per cent Banks were again very keen buyers of short bills at 3W P'r cent. Otherwise tho discount market was quiet and featureless, thert being less disposition to enter Into fresh commitments for the time being. The foreign exchange feature was a rise In New York to $4.18 on news o' a new British loan In the United States. A further decline in tne vaiue or 'ha ! f re?ort for tht Quarter ended frano occurred. Paris closing at St francs on 32 centimes, but Brussels moved in their favor to 35 francs, 97 centimes DISHONEST JUDGE SENTENCED. Four Years and 92,000 for Ilob-lilni- C Trust Fond of 940,000. PlttLADELPHW, oot zi. -- wmiam T. pumrer 10, 191J. Wheeler.', formerly a Judge in tha Mu. eJJ cUn nno complied .the three ntclpal Court of this city, convicted of yuaneriy atattments made thus' far in embezzling more than $40,000 of trust J\u\\. we surplus for tho ' funds of an estate for which he acted ami,nTi,th\ in?d on SeP'embar 80 as attorney' while Berving as Judge, was 3urti 10.,46S. which, aftsr sentenced to-d- to serve four years' UlanV. . ... a imprisonment ana pay a nne or $2,000, -- \'A t(?L harer on the rsridlns decision on an appeal Wheal. BVVW KKIftlllBL lD.li2.UH3. or was reieasea on TEXAS COMPANY TO CUT LARGE MELON T. C. and Jleduco Par Value of Shares. Smnll Part of New Issue Will Bo Held to Sclltfo Employ-- . ecs of Company. An Incrcaso of 60 per cent. In capital stock with valuable rights to present stockholders and n reduction of the par value of the company's stock was au- thorized, yosterday by tho directors of the Texas Company during their meeting subject to its stockholders'. ratification. in a meeting called for November 18. The capital stock will be Increased from $85,- - 000,000 to $130,000,000, and the par value of the shares cut from $100 each to $35 each If tho stockholders approve the plan. A smalt portion of the new stock will be reserved for sale to tho company's employees nt par from time to time and the remainder offered for sub- scription by stockholders at par. The amount to bo jrlvcn to stockhold- ers for subscription nt $100 a share will be $42,500,000. and that held for em- ployees $2,500,000. Stockholders will have the right to subscribe In the ratio of one share for two shares, mnklng the rights worth yesterday around 67 at tho final prices for the stock. The new stock Is to ba paid for In three Instalments and the proceeds of the Issue used to retire the company's outstanding debenture bonds, amounting to $14,798,0001 and for large extensions of plant and new ac- quisitions of shipping and other prop- erty. The right to subscrlbo will le given to stockholders of record on No- vember 29, and transfer books for the stockholders' meeting will be' closed at 3 P. M. on November 7. nesolntlon of Directors. , \Pursuant to n resolution of the di- rectors,\ says the notice to sharehold- ers, \the stockholders of tho Texas Com- pany will meet at the office of the com pany In Houston on November 18, at 11 A. 31. There- - will be submitted at this meeting for action br the stock- holders two recommendations of tho as follows! \An Increase of the capital stock of the company from $85,000,000 par to $130,000,000 par by the sale of a new lssuo of $45,000,000 par, of which new Is. sue $42,500,000 par shall be offered to stockholders of record at the close of business November 29, and the remain- der thereof, $2,500,000 par, shall be sold at par to a trustee for allotment and sale from time, to time to employees of this company and Its subsidiary corpora- tions under authority or with approval of the board of directors of this com- pany, payment for all of this stock to be made In three Instalments, as fol- lows: \First Instalment 10 per cent, on or before January 9. \Second Instalment 30 percent, on or before April 9. \Third Instalment, 40 per cent, on or belore July 9. \The amendment of Article 6 of the charter of the company to make the par value of Ha shares $25 Instead of $100.\ 985,000,000 Stock Ontatandlnar. The company lias outstanding In capital stock of $100 par value. The authorized stock was In- creased from $36,000,000 to $50,000,000 In May, 1911, hut by an act of the Texas Legislature It was provided on July 1, 1914, that the authorized capital stock of. such corporations should be reduced to tho amount actually paid lit The au- thorized amount of the company's stock thus became $30,000,000 on that date. That stock had been Increased In June, 1910, from $18,000,000 to $27,000,000 by payment of a 50 per cent, stock divi- dend, and to $30,000,000 In July, 1J13, n payment for property acquired. In Jan- uary, 1916, $7,000,000 new stock was sold to stockholders at par, making the total stock outstanding $37,000,000, and other Increases In stock since that time have been as follows: To $44,400,000 m March, 1916. by the sale of $7,400,000 additional stock to stockholders at par, to $55,500,000 in November, 1916, by the sale of $11,100,-00- 0 new stock to stockholders at par, to $69,375,000 In July, 1917, by tha sale of $13,876,000 new stock to stockholders at par and to $86,000,000 In December, 1917, by the sale of $11,876,000 new stock to stockholders at part and reserved for sale to employees. The debentures 'to be retired out of the proceeds of the new Issue are tho remaining outstanding portion of of6 per cent, convertible gold debentures Issued at times out of an authorized Issue of $20,000,000.' The flrat $12,000,00p of those debentures wero sold In March, 1911, to stockholders of the company at par, $2,000,000 more were Issued In June, 1913 of which .$1,966,000 was exchanged for an equal amount of collateral trust bonds of the Industrial Securities Company and $34,000 sold tor cash at par to that company. In March, 1914, $1,000,000 of these debentures were sold for cash at a premium to pay off notes given In part payment for prop- erties in the Caddo oil fields. The other $2,000,000 was sold In two blocks of $1,000,000 each In January and October, 1916, In both cases at a substantial premium. CONSOLIDATED EXCHANGE. Advances of 2 to 7 points were regis. tered yesterday in the active equip- ments, oils, steels and some specialties during the first four hours on the Stock Exchange, but material recessions due to profit taking sales shaded early gains substantially In the final hour. Bidding for Baldwin Locomotive was exceptionally heavy In volume and car- ried that ktock up points to 111. American Locomotive, at the maximum. moved up a to 114 '1 ; Mexican Pe troleum advanced 501 to 258 U ; Royal Dutch, New York, & to 111; Sin clair, 1 to 61, the first two to new highs. United States Steel common was Md up 1 to 111, ending at 110', i. Bethlehem Steel B, at the maximum, gained 2Yi to 107 ; Republic Iron and Steel, l'i to 10SU. American Suma- tra advanced 1 to 106 at Jhe outset Inter reacting to 106. Pierce-Arro- w fell baok 64 to 89U: White. 4U to 78; Maxwell. I to 61, Btudebaker, after Ztt early gain to 147, reacted to 141. 8 INDICTED FOR OMAHA RIOT. Murder Charged for Lyncblnsjr of Will Brown on September 28. Omaha, Oct 11. The first Indict- ments against persons who took an ac tive part In the riot and subsequent lynching of Will Brown In Omaha on Sunday, September 28, were returned to-d- by the Grand Jury against six men and two boys. The Indictments charge murder In th first degree, conspiracy to commit mur der, arson ana noting, Pennsylvania Crude Oil Market, Oil Crrr, Oct 81. Credit Balances Is .. 1. er iiu.ooo pall. Jl re- - ,n Slnr. lglS , sbjned from, the bench before being con. K5. \ \. verge 7.44, $jr- - . Wed, - ' - iratriU (7,721, avtraga 45,40L; I' ' 1 ' ship- - THE SUN, WEDNESDAY, OCTOBER 22, 1919. CHARGES U. S. WITH NEGLECTING TRADE Dr. Pratt Also Criticises Bank in Round Tabic Talk. Dr. H. E. Prdtt, former chief of the Bureau of Foreign and Domestic Com- merce, Department of Commerce, said yesterday that tho financial position of the United States Is weak because of our loans- - to Europe, and that tho low rate of foreign exchange Indicates a failure of American banks to meet s financial situation. He criticised the Administration for overlooking tho trade opportunities created since the armis- tice, stating that the British trade through Cologne was greater in tho two months of July and August, 1919, than It was In the year preceding the war. \No greater error was mado by Pur Government than Its almost complete poglect of our trado and foreign Inter- ests during the war,\ ho said. \Great Britain never for a moment lost sight of the commercial advantages of the situation. The question now Is, will anyone In Washington take a real In- terest In business, particularly In the business problems Involved In trade with Central Europe? The outlook is very barren.\ Dr. Pratt said that while the low value of the German mark makes It difficult for Germany to purchase raw materials. It Is favorable to her ex- ports. He held that with our high prices and manufacturing costs It Is not possible at this time to compete with Germany in trade. The address was delivered nt a meet- ing of the New York Forclen Round Table at tho Chemists' Club. Oil SINCLAIR BUYS LEASES. Company Properties Takfs Producing? Louisiana. Announcement that the Sinclair Con- solidated OH Corporation has acquired the Wrightsman oil producing properiea. known as the Johnson Holllngsworth and Polly leases In the Bull Bayou field of Louisiana, was made yesterday. A standard eight Inch pipe line will bo built by tho Sinclair from Its properties near Shreveport to Its refinery on tho Houston ship channel, a distance of about 230 miles. Tho line will have about 20,000 barrels of crude oil dally capacity. f ;Tho new directors of the Sinclair Con- solidated OH Corporation elected are: A. E. Watts, Joseph M. Cudahy, M. L. Requa. Frank Stelnhart. E. W. Sinclair, William P Philips, Samuel L. Fuller, J: Fletcher Farrell and R. T. Wilson.\ tak- ing the places of G. D. Wahlberir. R. W. Ragland, K. Porter, D. L. Hoober, C. A. Lockard, Jr., H. W. Kcnwell, A. Steln-Jnc- tz and O. M. Gerstung. A successor to Jams N. Wallace, who died recently, will be elected. London Money Sinrkrt. London, Oct 21. Bar silver 64R41. an ounce. Money 2 per cent Dis- count rates Short bills 4J per cent. Three months bills 4- per cent. Gold premiums at Lisbon 143. nid. I Aik. 66H 32 H 19H 12 H 100 S6X SI 664 10 7T4 69H 76 65U 133i 43K 41 44Vi 16 23V& 47 34W 90V4 108H 21H 65 63 Va 32 29 10GV 12S 76 101 10? 23 Sl 90 54 J01 103 111 14 19 26 29 87 24 0 17K 210 13 61 70 108 25 62 156 102 142 133 46 12 208 53H 104 r.9 67 91 43 128 67 53 1G5 52 191 10 113 T.IM 64 25 88 158 107 47 126 71 48 109 116 84 12 81 114 74 28 92 9 30 19 67 11 21 64 85 118 66 16 78 87 91 86 83 123 106 69 32 20 14 101 86 81 66 10 8 70 78 65 134 43 42 45 17 21- - 49 35 91 110 21 68 64 33 29 106 128 77 101 110 23 82 92 59 IOZ 104 iii 15 19 31 29 88 24 9 18 212 14 61 70 108 26 62 160 103 142 139 46 13 299 53 10u 69 69 Jl)3 43 123 68 64 157 63 192 10 113 q 65 26 89 159 109 49 126 49 110 116 18$ 88 116 76 30 10 30 20 eo 12 23 55 87 119 67 15 79 88 96 87 84 182 10654 IDtr.l lln I.I 2 50c 3J 8.70 3 3 7 7 6 4 6 3 4 6 7 r 6 io 4 4 7 10 8 6 5 in Riles. Executor Continued 500 New York Dock pf 1900 New York. N II & Hart. 100 Now York, Ont & \West. . 100 Norfolk 600 Norfolk & Western 1400 Northern Pacific..! 1300 Scotia S & C 16000 Ohio Cities Gas 9800 Oklahoma Prod & Ref... 900 Ontario Silver Mining. . . 2500'Owens Hottlo Co 300. Pacific 1001 Pacific Gas & Elec 211001 1200 4000 200 100 6300 100 800 44200 200 1200 100 Penn Steel... Chic Marquette Philadelphia Motor.... Pitts 500! Pittsburg Coal of Pa... 700 Pittsburg West 7100 Pond Coal, 6300 Pressed Steel 700 Pullman 3000'Punta Alegro Sugar.... Steel Spring Steel Spring pf.. 400 Ray Copper 2600 Reading 1400 Remington Typewriter 900iRepublli? Motor 25000 100 100 8.70 95900 400 700 100 100 COO 2000 C00 400 300 59700 22500 3500 27900 1600 100 25 600 6300 81700 1500 1000 1600 1(5900 2100 3100 300! 9200 18001 4001 2500 200 200 700 200 12800 i;nn 200 100 22400 8200 2900 100 800 1200 100 1S5S00 800 2000 1100 2600 . 100 1000 800 200 100 $00 200 300! 4100 200 100 100 2700 16(00 300 83400 363001 200 1000 700 100 3100 of of to me of at of or In to be Am & T, . R U & Pere Oil C C & St & Co ... Iron & a a Republic &. pf N Y.. . . St fit A Francisco St & St Southwestern pf Savage Arms .., Senboard Air Lino . . . Seaboard Air Line pf. Copper uu Sinclair OH rta. Sloss-Sheffle- S & Bouthem Southern Railway Stromberg Carburetor , Studebaker Corp Superior Steel . . . Tetin & Chem.. Cn & Pacific 2100'Tobacco Products Oil Steel Union Hag Paper Union Oil Pacific United Co Waal Reserve Rival claims Tulsa and a the were Reserve Board y large cities. rrobable tha ordering branch the Kansas dtcltnlng establish a will not some weeks. from Paot. Nova Pan Petrol .. Seaboard Peoples Peoria Eastern Pierce Arrow Pierce Arrow Motor pf. Pierce Corp Louis... Va... Creek Car .. Consol thick. 28900! 26S00: Republic Steel If-o- Steel Royal Dutch Royal .Dutch Co Louis San Louis San pf.. Louis Corp Saxon Motor Arizona Sinclair consol Consol I.., Pacific Railway Standard Milling Co rtsT. Speed Stutz Motor Corp. Copper Toxnu Tevns Transue & Williams & Union Pacific Union United Alloy Steel Drug Drug Co 1st pf... Fruit Co United Ry Investment ., United U f Iron' PIpeAFdy U b cast ir & Fd pf U H Express U S Food Prod Corp U S Indus Alcohol ox rts, U S Indus Alcohol U S Alcohol nf. ... U 8 Realty & Imp U 8 17 S Smelting, R & M ... U S Smelting, R & M pf. U S Steel U S Steel pf Utah Copper Utah Securities Corp Va-Co- ro Chemical pt..... Va iron, coal & Coke Vulcan Dotinnlng ... Vulcan Detlnnlng pf.. Wabash Wabash pf A Wabash pf B Wells Fargo Kxpress Western Maryland .. & At and York OliMt Cvrb Houu\ Dank. Oct 21. for branch Kansas City Bank the by from those It Is decision ny ooara, one those cities City Bank branch, made for Gas, Pcre pf Co Co Lead Fran Co pf... pf City, United United Retail Stores Cast Pipe rta... Indus Rubber Western Pacing Western Pai'lflc pf , , Western Union Tol Weetlnthouso Air Brnke. 13 & Mi,,, Wheeling A Lake Erie... White Motor pf Wilson & Co Wisconsin Central Woo'.worth, F W WQrthinston 1822 Farmers' Loan Trust Company Nob, 16, 18, 20 22 William. 475 Avenue ' Forty-fir- st Street x New York ' Paris Foreign Exohange . Administrator Guardian Member Fedoral Reserve System Now Clearing Houso ALLIED OIL Circular c. w. pope & CO. \77i 25 Broad St., New York Ttltpharu EnallUO Three Cities Washinoton, Oklahoma Wichita Fed- eral Reserve presented Federal delegations establishment upholding Federal Reserve NEW STOCK EXCHANGE PRICES. Preceding Southern.....'... Development...... Pennsylvania Marquette 3400lRnllwav l'OOIRallway Joseph 200!.Soars-Roebuc- k Shattuck Southern Stewart-Warn- er Transcontinental Westlnghouso Willys-Overlan- d Willys-Overlan- d j?mnp Open- - Itlih-- 1 Urn-In- fit. I ft. 65 68 65 33 33 32 20 20 20 14 14 14 100 100 1D0 87 87 88 82 83 81 67 67 66 10 10 10 S ' 8 8 71 71 69 77 77 . 7T 65 65 65 133 135 132 43 43 43 42 42 41 45 45 45 16 16 16 24 24 23 43 48 48 35 35 35 93 95 88 109 110 109 21 21 21 65 65 65 65 65 63 32 33 32 29 30 28 106 108 106 128 129 128 78 7S 76 102 102 101 108 108 108 23 23 23 81 82 81 94 94 91 60 60 53 102 103 101 104 104 104 109 109 109 107 111 107 14 14 14 19 19 19 29 29 29 29 29 29 88 89 88 25 25 24 9 9 9 18 18 17 210 211 210 13 13 13 60 61 69 . 70 71 70 108 109 103 25 25 26 62 62 62 13 13 18 158 158 157 104 104 101 145 147 140 139 139 133 47 47 46 13 13 12 2S8 299 288 54 54 52 104 105 104 60 61 68 72 72 67 92 92 92 44 44 43 124 124 123 68 68 68 64 54 53 169 169 165 68 18 63 193 198 198 10 10 10 113 118 112 1 2 81 64 64 64 26 26 26 88 89 87 114 116 113 46 46 43 107 - 107 107 49 49 47 128 129 126 78 73 72 49 49 49 110 111 109 \6 116 116 .86 85 84 13 18 12 79 81 79 114 114 114 74 75 78 25 28 26 90 90 90 10 10 10 30 30 80 19 19 69 69 58 12 12 12 22 22 22 64 54 64 6 85 86 111 120 114 68 58 66 16 16 15 82 83 78 88 38 86 95 96 95 86 88 86 82 83 82 180 ISO 130 109 109 1065, Clog. , In. 67 32 20 14 100 86 81 66 10 8 69 77 65! 134 43 42 45 16 23 48 35 91 109 21 65 63 32 29 106 129 77 101 108 23 82 91 55 101 104 109 111 IV 29 29 88 24 0 17 211 13i 6l\ 70 108 26 62 13 167 102 142 133 46 13 299 53 104 59 67 92 43 123 68 63 165 68 198 10 118 83 64 26 88 113 44 107 47 126 72 49 109 116 84 12 81 114 75 28 90 10 30 19 58 12 22 64 85 118 66 18 78 87 95 .88 ISO 106 Chartered Chanre '3 1 1 1 1 4 1 \' 1 1 1 3 6 \ 4 6 1 1 1 0 9 2 2 6 io l 3 6H 1 1 2 'i i 8 6 2 4 1 2 1 1 Trustee The and Street Branch Office, Fifth London YORK Margay Oil Corp- - Trading commonces on the New York Curb TO-DA- Y Write for Circular Wm.G.Gallagher SI'ECIALIST 15 BROAD STREET, NEW YORK Telephone Hanover 7707 PANHANDLE PRODUCING & REFINING CO. To be traded in on New York Curb When issued EMIL MOSBACHER Specialist 67 Exchange PL New York Phone Rector 435 LIBERTY BONDS All denominations boucht for caih Based on the cIohIiic wo nay todnv M0.S1 for a WO 3V4 lloml. A6 Coupons ,fi,tvi(irnv in.,, ikona, i coupon S47.4I forn iso 3l y. Ilonil. 1 Counon fie.XSforafJO tthty.t lloml, 2 Coupons fdv..u ior v am i iciory iian PURDY & CO., Tel. John 7. 34 Tine Bt.. N. Y. Adams Express Co. 4s, 1947 FREDERIC H. HATCH & 00, I'hone Rector 0340. 74 n'Hay, New Tork I'rlrate telephones to Ilotton and Philadelphia COFFEE MARKET. The coffee market showed yesterday increased nrmness at mo start, call prices being up 23 to 27 points Demand was stimulated, by flrmnasa In Rio, where spots were 22B rels htg-ha- and bulllih advices from Santos which said that the spot and term markets there were para- lysed and that tha Sao Paulo Railway was unable to discharge, shipments sus- pended and strike general at Bantos. Later In the sesalon prices here worked upward on short covering und a re- newal of Wall Street demand. Decem- ber Kolnfr to 16.00, March nml May to 16.S0 or Into new hlsh ground for the movement. Troflt taking In the after- noon cauaed a Hliarp downward reac- tion, active positions making new Ions for the day, but Inter covering caUBod a rally of a few points, cloalng at net gains of 12 to 14 polnu. Firm offers from Brazil continued very very Irregular and private cables said that buyers In Santos were buying up all Bourbons at high prices. The local spot market waa In fair demand at unchanged prices. Rio reported a clearance of 4,000 ham for Naw Tork. nnlnfa th two principal ports were 48,000 bags, j against 44,000 bags a week ko. A spe cial cable reported Bantos futures un- changed to an advance of 273 rela, but failed to caueo any responso in the local market. Ilanne of prlcea: jion. October Norember,.., December..... January Fobruarr March April Mar June July Auruat sept amber upen. iiij-n- , low. cioie. dax. 16.7510 18. U H.eS-T- n. M 10 SO 18.10 U.eo.63 H.4S 16.M SS 18, SI si:i ii u 11,41 iatz53 ll.Sl 11 Kf-- II . 16.85 1.M 18.10 18.8J U H j, 14M-- ll.si 1C61 II 13 1I.M 1I.IS-S- I 18.88 M.et-- 16.11 1170 16.10 1170 16.U-- li.ii norlaa cable nio waa 1- -a rla hl.h.r fn. t. tt 114915. Excbanre 1!M. lower at 14 Receipt N.vjO bar and atot-- tto.uoo ban. I I 4-- f 17 A Safe Investment in Times of Uncertainty JN times of reconstruction and changing conditions, such as the present, prudent investors naturally turn for safety to first mortgage securities on the land and its improvements, and select the first mortgage bonds, safe- guarded under the Straus Plan, as the safest and most desirable investments of this class. These bonds are based on the land, the source of all values, a definite, tangible asset, which cannot be taken away or destroyed, and its improvements, which give the land earning prvvcr and value. In buyjng a Straus-protect- ed bond, the investor is lending his funds on the first necessity of life the ground under one's feet and a roof over one's head. Have you ever learned the'reasons for our record of thirty-seve- n years without loss to any investor? The definite reasons are set forth in our booklet, \Safety and 6.\ Write for it, together with circulars describing diversified 6 offerings with 4 Federal Income Tax paid, which we recommend as sound investments. Ask for Circular No. D-2- 95. K S.WSTRAUS & GO. ESTABLISHED 168? OnlQAOO DETROIT BUFFALO BROADWAY, NEW YORK BOSTON ST. LOUIB WASIIINOTON PniLADBLPniA MINNEAPOLIS PITTSBURGH iNcortroitATF.u 37 years without loss to any investor A High Income Yield . Is obtainable from the stock of Dafoe Eustice Co., Inc. Makers of Well known standardized canvas products and Z7 Descriptive circulars on request FRANCISCO MILWAUKEE INDIANAPOLIS Ustus M. J. Hoey & Co. Members of N. Y. Stock Exchange ' 74 Broadway Telephone Rector New York United States ' Distributing Corp. Circular on request JOSEPH E. HIGGINS Specialist 25 Broad St. New York ' Curb Phone S316 Broad NORWAY NORTHERN & OVERSEA BANKING CORPORATION HANDELS OG EXPORTBANK Christiania Surplus, $6,000,000. NICKELSEN, President. Formerly Established especially to facilitate commercial relations-wit- foreign countries, this bank offers exporters and im- porters tho benefits of its close study of the increasing trade relations between the United States and Norway. With a perfect banking system of its own and the most re- liable oversea connections, in very favorable position to expedite the varied forms of foreign banking transactions. Direct correspondence invited. New York Correspondent: Bank of New York, N. B. A. In fUntoi tpota quoted, neeelpts 34.000 halt and moek S.OSI.Ono bata. A ruble trom Snntoj mid; \Term market paralysed. Rao Paulo railway unable In dlaeharce Ship mmta auaprnded. Oeneral atrlUo In Samoa.\ ltecelpta at the porla were IS 000 baca. two day., ar'inat 41,000 bafa, two dara laal week, and 7S.0C laat rear. Sao Paulo hail !t.lj. atainat 41.000 and M.O0O. and Jundlahy Ifi.OJi, xalnat tl.OOO and 41.000 baa raapertlTelr Thar wtre cleared from Rio 4.000 bat for Dew Tork. BRAZILIAN UgrTEH STATISTICS. Yattaniar, week. New Tork daUrarlei. 10,710 New Orlaana daily.. 1,037 Total daltrerl 10.T4T New Tork atock .... IM.KS New Orlean atock.. ltl.tSS Stock at all port Ul.lll Afln&t 721. one Kl.467 7S4.101 H09.01O month. 11.181 2JI.S73 474.000 Vlilble aupply 1.M4.I1I l.Mt.101 year's risible, .1.301,111 S61 l.Ui.tM at aan ranciaco. 150 1530 Laat 6.518 I5.i: 49:. (14 Laat 1,4(1 Ml. 4(9 HI l.m.lli Laat 1,395. 4I,ono 11.114 S1.0SI FINANCIAL NOTES. Peroy Jt. Pjne 5d ond I\ Donil.lfon 71 row n hava been elected directors of the Emplr Trust CompHny Colgate. Hoyt & Co. will ofter aoon 0 shares ot the McNnull Tire and Rubber Company capital atock at US a share. Hankers Truat Company dlsburae on November 1 the first dividend on Ama- lgamated aufr Corporation preferred. Neheralah Friedman la offerlns a new laau of 100.000 ahare ot llortay Talking Machine Company, Ino at a prlo of It s snare. Columbia Truat Company he been ap- pointed resletrar for th capital atocka ot th Melrher DlvlJ Ulnlnr, lb 8AN Capital and J. K. with The Bank of New York. B. A. it is not US. Helcher Extension Divide Mlnlnr. the Vlf-tnr- UMrie Mining nnd the DIMJo Eiter I slon Mlnlne companies. I The banking syndicate oompoeed cf Hnrnblnwer A Weeka, the Bankere Trurt Cnmpanj anl llaisev. ttiiirt A. Co., snl Maiden Millar & Co. of Cleveland an nounr that the H 500,000 American Chi'; 6 par cent, aerial note leaue has been eolCt Central Union Truat Company has beerj appointed registrar ot 117,(00.000 of tha Steel Tube Company nf America preferred Directors of the National Surety Com- pany yeaterday elected P. A. Rockefeller a member of Ite board and 1C D. llurlbarl and Stanley FUld numbers of Its Illlnol advisory board. Magna Oil and nefintng Company ha ben chartered la Delaware with 11.00,-00- 0 capital Herrulea Petroleum Company ha rmr-- i rhaaod 100 additional tank car to fake rare of Its Inrreaaed bualneaa. Th pur-ch- glvas th company a total of tit tar.k cara. IMre.' .r of the Commonwealth Bank hate elerted George F. A. Olt, formerly naalatant caahlar. caahler to aucceed Albert C ruche, deceaaed Papulpa Ueflnlng Company Is completing rapidly construction ot Its new wax and luhrlcatlng plant C. S Aahbrook. for many years with th aillette Safety Itator Company, hae been appointed head of the acceaeorles depart ment of th American Safety Raaor Cor. poratlnn. (leorge L. Storm, president of the corporation, announced yesterday tbat the corporation would develop Immediately the bualneaa of manufacturing ahavlng aoap, brushe and other accorl, under Mr. Ashbrook' charge. Mercantile nank of the America ha opentd a branch In Madrid. , .. ffiffii?fffiT\!.?-j?fliS3SE . ,t - IfjH
