{ title: 'The sun. (New York [N.Y.]) 1916-1920, October 24, 1919, Page 12, Image 12', 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/sn83030431/1919-10-24/ed-1/seq-12/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83030431/1919-10-24/ed-1/seq-12.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83030431/1919-10-24/ed-1/seq-12/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83030431/1919-10-24/ed-1/seq-12/ocr.txt', label: 'text/plain', meta: '', }, ] }
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il 1& 44- - For the Investor Dependent Upon Income Wo aro now offering a First Mortgage 6 Bond, due 1953, at a price to yield close to 5.95$ r The bonds are, In the opinion of counsel, a First Mortgage on the entire property, rights fran- chises, &c of a large and im- portant hydro-electr- ic company. We are officially advised that tho company has long-ter- m con- tracts for all of the 130,000 horse-pow- now available, and that the output can be increased to 150,000 horse-pow- er at a very low cost. Send for Clrcular-Ko- . 1677 Describing These Band SpencerTrask&Co. 25 Broad Street, Now York ALBANT .BOSTON CHICAGO Members Now York Stock Ezch ango Be Ready to Invest Your November Funds A great variety of attrac- tive securities is included in our diversified list of Novem- ber Offerings. Many are Tax Exempt. Apply pot anL receive this ex- ceptional Offering Hheet promptly. Ready November 1. It lists or describes carefully selected bonds, short term notes and preferred stocks of highest charactert Ask for Offering Sheet A TheNationalGty\ Company Main Office: National City Bank BMf Uptown Office: Fifth Are. & 43d St. Ccrresjxmifsf Offleet In over 50 CUIet. An Investment Strongly Safeguarded , Yielding 7tf' Cities Service Co. in additioa t being one of the world's largest producers of oil, controls, and operates M public utility prop- erties In the United States and Canada. This diversity In business as well as location provides nnusual safeguard\ for the Investor. -- Preferred Stock DiTjdend Re- quirements were earned Ave times over In 1018. Statement of Earnings sent to stockholders each month, keeping them In close touch with the com- pany's - - progress. Dividends parable monthly. Atk for CiXfiular 8U.M. Henry L. Doherty & Company Bond Department 60 Wall Street, New YotX Correspondence Invited We intite correspondence on &ock Market commilmrnis and all inttsiment ubct$. re cuent analytical reports isned und mailed eratis. Special weekly Cotton fatter and Grain review upon request. E.W,Wagner&Co, Etlabllthei 1337. Chicago A'ru V'orJt Stock Exchange New York Cotton Exchange Chicago Hoard of Trad 3.1 NEW ST. (Ground Floor) NEW TOItK Mad. Av. c l,td St. ins West S!d SI. It Court St.. Brooklyn StO Uroad St., ficvark Special Letter this week on United Profit Sharing Recent Special Letters on Wayne Coal No. Am. Sweets Co. of Amer. ...'\I . Submarine float Olenrock Oil reaeral uu Pnlri Jt- - Copies upon request CJ BROAD ST. HtWYOMt. Telephone Uroad 7111, FOR SALE 25 Shares , Amer. Hawaiian Steamship Stock J.K.Rice,Jr.&Co. rhone s 4000 to 4010 John. 88 Wall St.. N. x. AEOLIAN-WEBE- R COM.&PFD. Boutht Sold Quoted Merrill, Lynch. & Co. 120 Broadway, New York I'hone Kector r.071 :i.Y!L.V.0bl Th-od- C. Cenvla & CORWIN \- - New York National City Curtiss Aero Pfd. Citizens Nat. East. Steel Com. FINANCIAL NEWS AND COMMENT After Hislnff Itapidly, Markot Drqps Under Soiling Prcs- - suro to Weak Close. 'IS STEADIER NEAR FINISH Decline Is Sharpest in Higher Triced Specialties and Speculative Issues. The stock market had to face yesterd- ay1 the most Important test of Ita un- derlying position which It has experi- enced slnco the new rising movement began. With the, overnight news dis- tinctly unfavorable and with the ma jority of speculative stocks In a, highly, sensitive technical position, as 'a result Of the contlnudus advance In prtoea for , tho last month, tho whole list opened , very Unfavorably, The\ strength of the I general market, however, was still very (surprising In face of the news and the .trading fraternity Immediately took ad-- I vantage of the occasion by beginning a ' n O \ wising m nv'.im r, fi t .irfeMh rwkntrju In the nteel shares. There was a very spectacular advance In Lackawanna Steel, equal In violence In fact to the rise on the preceding day In Republic The rise here, however, was entirely too rapid to be maintained and It started Just such a movement as Watratreet has beon expecting for the last few days, a selling movement which continued with little Interruption to a weak and unset- tled closing. ' The whole thing was entirely due to technical conditions, and under the cir- cumstances prices probably broke no fur- ther than experienced traders had ex- pected. A.s a matter of fact the market held considerably better than expected In most quarters. It la true that the change. In the situation In Washington in connection with the Industrial con- ference undoubtedly had some effect on the market, but It was not half .as seri- ous as many people were led to, believe. Had It turned out differently Wall Ktrwt unquestionably would havs considered the situation all the more unfavorable, for under the circumstances a. recognition of the resolution which - resulted in the .withdrawal of the 'labor group would have meant the, losing of the steel strike, which the financial district has been celebrating as won for the last week or more. The withdrawal of the' labor group from the conference, however, brought up many new questions which will hare to be faced, but with yester- day's session It was not so much these considerations which Influenced the sell, ing as it was technical consideration. Had there been any rea) fear In connec- tion with the labor difficulties the break yesterday would have gone mucfl fur- ther. .As It turned out the worst selling centred In the higher priced specialties and krecent highly speculative Issues. Lackawanna. Steel, which had experienced a 14 point rise in almost, as many min- utes, led the break by selling down to practically where It .started, while Cru- cible, another spectacular feature of tho early trading, lost all of Its 12 point gain. The decline in the rest of the market ranged anywhere from 1 to S points and more, but nowhere were there any such evidences of weakness as In the highly speculative Issues. Steel common went 1 AO ft... , i.i. - . ... vo, wut, tiiuug; wim me rest or tnei iisi, recovers a part or Its gain in the last hour, while the' motors shares broke very violently. The only really very strong spots in the list were the tobac- cos. Toward tho closing a steadying pe- riod set In and the .tobaccos came for- ward as the feature of the market. United Retail Stores and American To- bacco lead this movement, standing tha test In a remarkable manner all through the day, and closing with net gains. This was one of the few groups to show net gains on tho day. There was at least one thing certain about yesterday's market, and that was that the money market had no part In the selling. Money was easy all through the session, opening at 6 per cent, for re- newals and closing the session under 6 per cent. The break yesterday, from one point of view at least, undoubtedly had the effect of strengthening the money position. With the volume of stocks run- ning over two millions, there may have been a very substantial reduction In loans, which was not only pleasing to the banking fraternity, but to the com- mission houses as well. There was noth- ing spectacular In the foreign exchange market Sterling held very well all day, as might have been expected In view of the offering of a $2(0,000,000 British loan In .this market Italian lire, however, was very unsettled again, ex- periencing another very sharp decline at the outset Mixed iJIIfh Low MONEY AND EXCHANGE. Collateral. Last H .... s Yeare hlih... MONE- Y- Renewsis Year's low low tM TIMH LOANS. Mixed Collateral. All Industrials. Sixty dels SH Ninety days C3', Four months 6a6tt VI w mnnth. fitfrfU I six months 64H 44 All Indus trials. s StliLow u ...... tt i enew&ii 8 I Sixty t Ninety dsys T months f months 1 8U months T COMMERCIAL PAPER. Prims Ittllsl months (HffCK Receivable. (Six months Sixty IUOIH Other Names. Ninety daTa....eHThree to six CLEARING HOUSE STATEMENT. Clearlnr Ilousa uu.liauies, iSw.S'&SOv; bal- ances, S7S.ie3.TS4; credit bal- ances, 1:60,(71 ; Federal reserve credit balances, r,5.i:i.H7. 7 DOMESTIC EXCHANGE. Boston, par; Chlciro, St. Louis, 7Mt ICo. discount: San Frsnclsco. par: Montreal. 133 12H per tl.KO premium;, Cincinnati, iiun,.;uu.t iw. premium. SILVER PRICES. Bar stiver In York, 11. up Sic; la' jonuon. os'fco... ud Vhu. : Mexican tic, unchanged. FOREIGN EXCHANGE Bterlln- r- Hlsh. Demand... It.lSVs Cablrs Francs Demsnd... 8.C9 Cables I.C7 Msrks Demand.,. J.M 1U IM t.to Normal ot Exch. I.teco Sterltnr 49.84 44.43 10304, CALL soutn Hlrb List fTear's hlrb...: (Year's dsys Four Five Indorsed sVtC days par; par; New IS',, douara. Rate .Low. ' Si.lS I.TM4 I.MV4 Cables Last i.UH t.n i.es 3.83 3.88 Yesterday's Close xremana or Checks. Cities S.lill Paris 1.70 331 Marks 3.(3 cms Belgium t.13 Chins Hoofkonr tl Shanxhal no 19 30 40. 33 40,00 30 10 Jl.lt Greece Holland ludla Uotnbtl Japsn Yokohtma Philippine Islands Minna gu E.1U3 Italy 10.43 24. M Hcsndlnivla Stockholm it.te Chrittlsnla 33.70 Copenharrn America .itt I4.18W 18.28 37S ,,,,, 4t4 M'i 31.40 Rio 2SU Arrentlna (sold)... mu oucuui A7rcs,,,, AZ.I& 11.30 Spain mo B.1IU Swltirrland , ,. S.K 61.44 Russia (Currency); Bid. (00 rubles t.oo 100 rubles 4 00 .TIME I1IL.IJ1 ON T.nNnnw Prer. Clsae. 4.11 1.70 1.13 I.U s.eo 8.48 3.85 8.43 140H 4H it 4 10.40 34.10 33.85 '31.84 H 43. 4S lt.18 (.63 Ask. 1.38 1.3s Bankers. I Commercial. GO (lavs ti.llV.lf.O Anvm u 11, 1 !9 days 4.10 w dayi .' 49 j Bid. I Ask: 36 46 73 95 2 Mi 2 47 94 100 48 47 96 , 126 166. 63 133 115 R7 10 39 139 122 80H 95 10$ 68H 43 73 101 45 95 139 104 99 307 99 141 105 65 21 69 67 2 56 \7 91 79 10 92 1S0 12 16 29 144 39 DO 131 97 89 1 S7 102 106 17 20 15 10 148 12 26 36 79 62 80 74 150 104 60, 43 132 68 8 9 27 44 64 91 101 28 63 75 22 42 46 23 64 64 55 72 98 19 93 14 93 107 218 101 320 41 82 100 16 13 36 35 135 104 15 25 88 107 32 148 107 60 46 29 84 169 329 90 86 86 86 43 42 76 63 93 60 6 18 28 89 140 61 112 28 66 76 26 70 84 19 164 109 101 34 66 90 45 37 47 228 75 111 64 58 31 51 77 41 121 261 27 53 55 18 89 12 18 29 48 50 64 37 60 90 127 110 83 103 16 82 90 7 23, 1919. Day's sales 2,218,400 46 73 96 2 2 48 95 101 50 49 97 120 200. 64 134 116 68 11 39 139 123 81 96 109 68 44 73 102 45 96 140 105 100 308 99 14Z 106 66 22 60 67 8 68 118 91 80 11 93 183 74 17 30 145 40 60 132 100 92 1 37 104 106 18 21 16 11 154 12 26 36 SO 62 81 76 151 104 60 46 133 60 9 10 27 44 65 91 104 28 64 76 23 43 47 23 64 64 68 73 98 20 94 14 94 109 250 103 380 41 82 102 17 14 37 38 138 106 16 25 88 108 S3 154 108 51 47 29 84 170 331 91 87 86 86 44 48 78 68 94 60 6 18 28 90 141 62 112 28 67 77 29 75 34 19 155 110 109 35 66 91 46 37 47 240 78 118 64 60 82 51 79 41 122 262 27 53 55 18 90 12 20 29 49 60 65 38 61 90 133 116 83 107 15 83 91 8 dTv! Int. 8O0 4.80 50c 3 12 12 7 4 7 10 12 7 10 3l 12 ..! 4 7: 1 1.20 1 7 7 9 7 6 10 2 4 3 Bsles. 300 Adams Express 16Q0 Advance Rumely ...... 1000 Advance Rumely pf.. . . 2100 AJax Rubber . 1200 Alaska Gold Mines.. . i . 1000 Alaska Juneau .... 6800 rs Mfg . . . 100 rs Mfg pf. 900 Am Agrlcul Chemical . 900 Am Bank Note . 100 Am Bank Note pf. 4800 Am Beet Sugar 8500 Am Bosch Marrnoto.... 100 Am Brake 8hoe.& FUy pf losuu Am can im am car ft ounary 100 Am Car & Foundry pf. .. 400 Am Cotton Oil 2400 Am Druggist Syndicate. , 11300 Am Hide A Leather 8500 Am Hide & Leather pf,., 18700 Am International Corp... 3400 Am Linseed Co 1 200 Am Linseed Co pf 18900 Am Locomotive 1100 Am Malt & Drain 35500 Am Ship A Com 4400 Am Smelt & Ref 400 Am Smelt A Ref pf 11000 Am Steel Foundries .... 100 Am Steel Foundries pf.. 2200 Am Sugar Rof 6600 Am Sumatra Tobacco . . 2700 Am Tel A Tel 11300 Am Tobacco , . . 200 Am Tobacco pf new 11300 Am \Woolen 200 Am Woolen pf 1700 Am Writing Paper pf . . 800 Am Zinc, Lead A Smelt. 200 Am Zinc, Lead & Sm pf 8400 Anaconda Copper 700 Assets Realization 300 Associated Dry Goods .. 200 Associated Oil Co 3200 Atch, Top A Santa Fo . . 100 Atch, Top & Santa- - Fo pf 100 Atlanta, Blrm A'Atl. .. . 300 Atlantic Coast Line ..... 6600 Atl, Oulf A W I H 8.... 800 Atl, Gulf A W I S1 S pf . 1300 Autosales Corp 200 Autosales Corp pf Locomotlvo Wks 4200 Baltimore & Ohio . . . 300 Baltimore A Ohio pf . 1100 Barrett Co 2800 Barnet Leather 300 Barnet Leather pf... 200 Batopllas Mining 6900 Bethlehem Motors ... 200 144000 1500 400 100 100 900 13100 700 1100 4300 4400 100 400 17100 8100 200 5800! 1200 100 400 200 4200 2800 1000 300 6000 300 600 3200 1600 9800 600 1400 18500 1000 800 8500 53100 400 17600 100 600 3400 600 200 1900 600 1400 600 2200 100 900 800 7300 400 100 600 21300 1100 5800 4400 900 8700 300 800 28800 1600 .8600 600 19100 2200 300 4300 1600 600 2000 1900 800 16900 6100 16400 14400 600 . 100 300 400 7000! 800 2000 2400 21600 77500 100 4500 600 150 600 600 300 200 4500 800 200 800 15400 400 70200 13300 1300 100 4200 300 5600 2100 1200 200 600 300 100 100 260 100 600 2500 22350 200 Bethlehem Steel Bethlehem Steel B Booth Fisheries .. Brooklyn Rapid Transit. Bklyn Rap Tr of dep uruns Term & 11 It. Burns Bros Butto Copper A Zinc Butte A Superior Copper. Caddo Central O A R. .. California PacklnglCo.. . California Petroleum ... California Petroleum pf. Calumet A Arizona .... SOOtoanadlan Pacific Central Leather Cerro de Pasco Copper., Certain-tce- d Prod Corp. Chandler Motors Chesapeake A Ohio Chicago Gt Western 1919. Chicago ut Western pf . . Chic, Jill A Bt Paul Chic, A St Paul pf . . Chicago A Chicago Pneumatic Tool Chic, Rock Isl A Pac... IChlc, R I A 6 p c pf, Chic. R I A Pao 7 p o PI Chile Copper Chlno Copper Colorado Fuel A Iron..., Colorado A Southern .... Columbia Gas A Elec. . . . Columbia GranhoDhonn .. 200Colum pf. Cigar .4..., consolidated Gas . 800 700 L20 100 400 ctfs MU Pac 4000 Con Interstate Col Mln., Continental Can Continental Candy Corn Products Ref Corn Products Ref pf... Crucible Steel Co Crucible Steel Co pf cubon-Am- er sugar Cuba- Cane Sugar Cuba Cane Sugar pf. ... Delaware A Hudson .... Denver A Rio Grande pf Dome Mines Elk Horn Coal Corp.... ...... pf ... Erie Erie 1st pf Fairbanks Co Famous . Federal Mln A Smelt pf. Fisher Body Corp Fisher Body Cp pf ex dlv task ltuoDer Free port Texas Gaston, Williams A Wig. General Cigar Co General Electric Co....,, General Motors Corn .... General Motors Corp pf.. General Motors Corp deb, Goodrich, B F. Great Northern pf Great Northern Ore ctfs. Greene Cananea Cop Gulf States Steel Haskell A Barker Car.. .. Illinois Central Inspiration Con Copper., Interboro Con Corp Interboro Con Corp pf. ., Int Agrl Corp Int Agrl Corp pf , Int Harvester Co new..., Int Mer Marine Int Mer Marine pf International Nickel International Paper Inter Paper pf atpd Jew! Tea , Jewel Tea pf Jones Bros Tea Kansas City Southern.., Kelly Springfield Tiro..., Kelly Spring Tire pf...., Kolsey Wheel Co Kennecott Copper Keystone Tire A Rubber, Lackawanna Steel Co..., Laclede Gas of St L...., Lee Rubber A Tiro Lehigh Valley, Liggett A Myers Tob..., Loose Wiles Biscuit...., Louisville A Nashville.., Mackay Cos of. Manhat Elevated guar.. Manhattan Shirt Maxwell Motor Maxwell Motor 1st pr... Maxwell Motor 2d pf.... May Department Stores. Mexican Petroleum .... Miami Copper Mid vale Steel A Otxl.... Middle States Oil Minn A St Louis new... Minn, St P A S SM Missouri, Kan A Tex ... Missouri. Kan A Tex pf. Missouri Pacific Missouri Pacific pf. Mutllns Body Montana Power National Acme Co Nat Aniline A Chem ... Nat Aniline A Chem pf , National Biscuit Co National Biscuit Co pf . . National Cloak A suit .. National Enam A Stamp, National Lead Co. Nat R R of Mexico 2d pf. THE FRIDAY OCTOBER . 24f 1919. NEW YORK EXCHANGE PRICES. Thursday, October 85G0OlBaldwin. Northwestern, Grnphophono lOOjcomp-Tab-Recor- d 800JConso!ldated Emerson-Brantin- g Endlcott-Johnso- n Endlcott-Johnso- n Players-Lask- y S.UN,, STOCK 1918. 701.097 112,804,866 1117. 665,321 149,761,665 Opes-- 1 lllfh-- 1 Km- - I lies- - Net Inf. est\ I est . inc. Cbsnrs- - I 85 I 85 35 85 , 47 47 45 45 73 73 73 73 l 94 95 93 95 2 2 2 2 2 2 2 2 49 49 47 48 2 94 94 94 94 102 102 100 100 1 49 50 49 50 U 48 48 48 48 1 98 98 93 97 1 125 126 124 126 1 170 170 170 170 65 65 63 63 1 136 135 133 133 1 116 115 116 115 68 58 1 67 57 1 11 11 10 10 40 41 38 39 2 141 141 138 139 3 125 126 121 122 3 82 82 80 80 2 95 96 96 96 1 112 112 107 108 4 60 60 68 68 1 46 47 43 48 8 74 74 73 74 102v 102 101 101 1 46 46 44 . 45 1 96 95 95 95 139 189 136 189 2 106 106 103 104 1 99 100 99 100 305 808 300 307 99 99 99 142 148 135 142 1 106 106 106 106 - 67 67 65 66 1 21 21 21 21 68 58 58 68 69 69 67 67 1 2 2 2 2 66 56 66 66 1 116 116 116 116 1 90 91 90 91 1 79 79 79 79 10 10 10 10 93 93 92 93 186 186 179 181 4 73 73 73 73 17 17 16 16 1 30 30 80 30 151 154 145 145 9 40 40 39 39 60 60 49 49 1 131 131 129 130 97 99 97 97 92 92 91 91 1 1 1 1 ... , 39 39 85 37 2 107 107 107 107 4 109 112 106 106 2 18 18 18 18 20 21 20 21 16 15 15 16 10 10 10 10 145 145 142 142 1 12 13 12 12 24 26 26 26 36 37 35 86 81 81 79 80 1 53 63 61 52 1 80 80 80 80 1 74 76 74 74 1 150 160 149 149 106 107 103 104 2 60 60 59 59 45 45 46 45 136 136 131 133 34 57 58 7 58 9 9 -- 9 9 10 10 9 10 27 27 27 27 42 44 42 44 1 64 65 62 66 1 91 91 91 91 103 103 101 101 3 28 28 27 28f 63 64 63 64 76 76 76 76 23 23 22 22-- 5 43 43 42 42 1 48 49 46 46 1 23 23 23 23 65 65 64 64 63 65 62 64 95 95 95 95 67 67 57 67 74 74 72 72 1 99 99 98 98 20 20 19 19 95 95 93 93 2 14 14 14 14 94 97 93 93 4 108 108 107 107 248 261 246 249 1 102 102 102 102 324 329 320 320 41. 41 41 41 62 82 82 82 100 100 100 100 1 16 17 16 17 14 14 14 14 38 38 36 36 1 53 83 33 S3 3 137 138 136 135 3 106 106 106 106 16 16 15 16 25 26 25 25 89 89 88 88 1 106 109 106 107 32 33 32 83 163 163 163 163 1 108 108 107 107 62 62 49 50 2 48 48 46 46 2 31 81 29 29 2 86 86 83 84 1 170 171 168 168 8 333 336 330 330 7 90 90 90 90 86 87 86 86 84 88 83 86 1 85 86 86 86 44 45 44 44 1 42 42 42 42 84 88 76 76 8 63 63 62 63 93 93 93 93 60 61 60 60 6 I 6 5 18 18 18 18 V 25 28 25 28 86 90 86 90 4 142 142 140 140 1 62 62 69 62 1 113 114 112 112 1 28 29 23 28 69 69 64 66 8 76 77 76 77 37 ,27 27 27 70 72 70 72 4 34 84 84 84 18 19 18 19 164 155 160 154 109 109 109 109 112 112 109 109 2 34 34 34 84 67 68 65 65 3 89 103 88 91 2 46 45 45 45 4 87 38 35 87 47 47 47 47 . 227 227 227 227 12 79 79 76 76 .1 111 118 111 111 .. 64 64 64 64 (0 60 69 59 4 84 34 33 33 1 51 51 60 61 1 78 73 77 78 .. 42 42 41 41 1 120 121 119 120 1 260 262 262 258 8 \27 37 27 37 63 67 63 68 1 54 68 63 55 8 17 18 17 18 4- - . 89 89 89 89 .. 12 12 12 12 17 18 17 18 1 28 29 28 29 48 49 48 48 . 60 60 48 49 1 66 65 65 65 . 37 87 37 37 , 60 61 60 60 90 90 90 90 . 128 128 128 128 116 116 116 116 83 83 83 83 l . 106 106 106 106 15 15 15 15 Z v. . 84 84 82 82 u 88 94 88 91 3 7 7 7 7 GOSSIP 02? WALL STEEET. The Market. Professional Wall Street found Itself running around In little circles after yesterday's close, thinking up excuses , for yesterday's market and hoping that j prophecy would come nearer hit- ting the builseye. The main mystery I was yesterday why the steel shares should be taken In hand at the outset and then dropped when the market Anally cams around to the expected slump which tho breaking up of the Industrial Conferenoe had foreshadowed. The close found opinion of the market, as ex pressed In commission houses, .very widely apart as to the Immediate future. Tho general opinion appeared to be 'that tho breaking up of tha Industrial Con- ference was not a factor which should have more than a temporary effect and that as the market's technical position was fairly strong, the news ot the day, as It develops, should prove the deciding factor In the scales of what has been seen to\ be 411 evenly balanoed situation. Many people appeared mat me quick' run up of the steel group yester- - day morning, followed by lust as qulok a reaction, was the punishing of a short interest In these stocks wnicn uireatenea to get the upper hand. Those bold spir- its of the flnanolal district who generally attempt to forecast Immediate develop ments in the market were last night more than ever astraddle of tho fence, Another Two Million Share Day. Trading In point of volume was yes- terday the heaviest slnco the big bull market of 1916. Total transactions numbered yesterday more than 2,260,000 shares, making the fourth five hour ses- sion this year when sales have crossed the 2,000,000 mark. Not since 1916 has yesterday's figure been touched,, In that year there were ten five hour sessions of more than 2,000,000 shares, not to men tion one day In which more than 3,000,- - 000 shares changed hands. The biggest previous day this year was June 3, when total transactions were 2,177,610, and the only other two occasions on which the 2,000,000 share mark was passed wore on July 7. when 2,095,600 were traded, and on August 8, when 2,049,060 were bought and Bold. At no time of last year did sales In a single day ex feed 2,000,000 shares.\ In 1917 only one day passed that mark. In the wild 1916 market there were eleven days of more than 2,400,000 shares, one of which ex- ceeded 3,000,000. Prior to 1916 there had not been a 2,000,000 share day since 1907, when three such sessions were re- corded Four 2,000,000 share days oc- curred in 1906, four tn 1904 and eleven In 1901. LnckaTrsnna Steel. A coup that ts becoming a method of operation by largo that ot dashing suddenly Into favorite traders, a stock with a bushel basket full of buying or- ders and riding It under a\ strong whip for half an hour or so, was repeated yesterday morning In Lackawanna Steel. Exactly the same thing happened In Re- public In the previous trading session. In both cases the bold operators were aided by a large short Interest, which had been accumulated In both stocks and which stuck tenaciously through the drives. Lackawanna opened at 89 and sold up to 91. and at that figure was taken in hand. Within thirty mlnutos It had sold up to 103, up, 14 points, The move was so sudden and so fast and furious that at the moment the price of 91 was being printed on the tape the market for Lackawanna on the floor of the exchange was 101. For this reason there was considerable complaint by traders who had orders to buy at the market and who expected to pay be- tween 91 and 92 for their stock. They were surprised, to say the very least when many report slips showed a prlos above 100. Tobacco Iksrsa. The leading tobacco stocks were one of the few groups to show yesterday out- standing strength In the, face of Weak- ness In ths balance of the market While the highly speculative steels, specialties and motors were reacting 1 to 10 points In the afternoon the tobacco stocks came to the front with United Jletall Stores In the lead. American Tobacco also was strong and the strength in this security was reflected in the strength of the new A. T. securities on the curb. In con- nection with the strength of the tobacco shares It is understood that Important developments are pending and will be announced soon. Theso are understood to Include a deal whereby valuable rights accruo to United Retail stockholders through taking In of another company. The' name of this new company could not be ascertained yesterday, but It was said, that when made public It would be a surprise to traders who recently sold the stock on the theory that speculation had shifted entirely from , tobaccos to aaotors and steels. Oklahoma Producing & Iteflnlnn;. Another stock which distinguished It- self yesterday by advancing In the face of a crumbling market was Oklahoma Producing and Refining, It has fluctu- ated within a very narrow range since Its Hating about a year ago, the ex- tremes being 8 and 13. The Stock was \heavily dealt in yesterday and ad- vanced fractionally while all other oils on the list were declining. The show- ing Is understood to be due to new de- velopments pending in connection with the company. It was learned yesterday on good authority that negotiations are pending whereby Oklahoma Producing and Refining will merge with another large oil stock and that new Interests have gone into the new company to as- sure success for the pending deal. Gaston, Williams A AVtgmore. The action ot the directors of Gas- ton, Williams A Wigmore in passing its regular quarterly dividend, due for declaration yesterday, did not come ea a surprise to Wall street as It had been hinted pretty generally for a fortnight or more that eome such announcement might be looked for. It has been com- mon gossip that 'Caston, Williams A Wigmore and other exporting and steam- ship companies have suffered heavily be- cause of the very low mark to which exchanges, especially sterling and franca, have fallen tn the last few months. Not only has their actual ex- port business fallen off, but their steamers have not been operated as profitably as had been hoped. With the exchange of the allied nations so heav- ily against them, foreign buyers were unable to come Into the American mar- kets for the purchase of commodities. no matter how badly they were needed. Hence, the exporting and ocean, trans- portation companies were unanle to conduat their wonted business. Gaston, Williams & Wigmore stock has been under heavy trressure for several weeks, some selling having come Into the mar- ket It la said, from Interests which had Intimate knowledge of the real situa- tion. For this reason, the break In the price yesterday on announcement ot the passing of the dividend was not so marked as It might have been. Ths stock sold up to 31 on the bulge early In the session, reacting to 29 when the news came out There was rally of point later In the day, which brought the final price to 29, a net loss of i points. New British Loan, Formal offering ot the new 1150.000,-00- 0 British loan by a syndicate headed , by J. P. Morgan ft Co, will be mads to- day. IMuch Investment attention has been attracted to this offering, as It ts the first grenl International loan floated since the armlstics and since the United States Treasury ceased extending credits to foreign countries. Bankers who have bandied details of the loan say that thev ure confident of its success. The advance i applications for the current loan have BONDS 4N NEW YORK STOCK EXCHANGE. Thursday, October 23, 1919. . 1919. 1918. . I?\' Day's soles , Year to date, 43ales (In Bid. Yield. Open. High. Low. Last. 100.6 96.30 93.60 95.3\B 93.74 100.96 95.38 93.70 99.62 99.60 407 8S iuu.ov AngloFrenrh 8s 3... .07 3 079s 3. 0714 10.. ..07 1 24,..i...07l 14.. ..07 8 3.. ..07 -l S S .....,.97U 3 .07 33 97H 7.1(1 6.... 07 e 87.. .....0711 07 3ilo ins.., . 10.. ,,07 7fl D7I 10 10... .07 0 S 07U SO 07 HO 1 0714 38 073, A 0711 3 7S 78 071 3. ...07 10 073s 1 07U SO 07t uty of Mar seilles M 1 100 1 007 City of Tarts en 5. 07 SO SOU 1 VOIj 10......00S Klncdra 31. H4 toil 13.... 8..;. 11.... 10.... 18.... 05.... 6.... 37.... 30.... 04.... 1.... 41... 100.80 1UU.7U 1UU.SS ivv.ov 96.40 93.66 95.42 B8.78 96.42 98.74 99.64 99.64 S....B7 S....07 AO.... ,0747, United 0AI 004 . . .0096 ...6678 ...07 '...07S4 ...07S ...7ia . . .0734 ...071j 07 ...0714 ...071$ ...OTU 10 1.078, 8.......07IS !Hs 1I7 10 03 3 03 4 0334 4.. 11 93 3 0234 18.. .....0.1 0.......0214 33 021? 10...- - ...0334 II 0288 8 027a 2 0234 2; 03 Dom Canada 8 1131 12 Off 1 98 1 OS 1831 l osis 4 083s Rep of Cuba ts 1904 8 02U JapaaesslsUs Japanese MIH\ uersta 1 83 Japanese 4s 1 881a NY City 4Hs87 May 3 1017 IO 103 Not 1 1017(1 NY City 4Xs 83 22 101's NY CUr4W IS, 3.. ..101'S NY CUT 4l(-s- 3 078 coupon Ch Alb ft Busq 8 pf .. Br Shoe. pi us Coal O 91 Amer 88 Amer Ice... 41 pf Am .. See 83 a o I do IS A O lpf Id 76 4.29 4.44 4.64 4.67 4.85 4.74 4.87 3.88 OF 816,204,000 2,792,869,000 1,437,662.000 BONDS. Closing. Asked, 81,000s). 8.44 (1882-47- ) 116 4s (1932-47)- .. 95.80 DO.iU 2d' (1927-42- ). 93.74 1st 4s 96.88 1,233 2d 4s 93.86 ,. 4s('S2-47- ) 1,528 3d 4s 95.42 6,379 4's (1933-38).- .. 1,038 Vic. 4s (1922-23).- ., 89.60 Vic. 3s (1922-23).- .. 99.60 United States, Foreign Governments, Railroad, Industrial' and Other Bonds 0...,..,7lg .....0234 1.......03 Am A xf deb 8s 1 10.' Am Ont Oil 8s 1 8S AmfimeltAJt is 2 S7g 4.-- . ....87 cv 4s 8. 101 1 intt4 10. .....101 4,....iniU AmTAT dt 8s ' 4......8S4 AmTAT-cI- t 4s 1 819 AmWrltlngP7s 6.,,'. ...874 1 87 Ittts .,,8213 4Hs 9 84 ATASFcrU 1 3 00 AT SF 4i 8 797a ' 8 SO 33 0 79lj 28 79H1 8 1 79H 17 793s ATASFsdlil 3 731s Atl A Chart 8s 1 93 At Coast Line 4s 1 807 Bait & Ohio t 1 00 O 8a IMS 3 89 2 09 6 7U4 8 71 10 70V 25 70lg 6 701a BaltAO gold 1 7UI9 io 70ia IB 70 BaltAOhlo 3U. n bom BsltaOSWIUs . 4. BethSteel ex 8a fi . ..1034 Beth Stl 8s 3 BethStl 8s 1S3 8... Detroit 10 041 j 8 Rap Tr 7s 1 Canada So 8s 3 Cen Oa cn 8s O Cent R B NJ 5s 3.. ....101 Cent Pacific 1st 77lj 77U Cent Pac 10 831 O ft O CT 8s 49 2 841 1 4U 1 84 2 84 Che ft O 4 Ha 7 78 O er Mi 3 787g 8 1.. 7878 Cht&Alton 3H 1 3339 Chi Alton 3s 3 CB&Q Joint 4s OS's 2 4,,s30..OSIa o....(iOjia ChlBftQ (TO 4S 1 1 81 TJNTTBD STATES BONDS. registered Panama. Panama, registered... :a I'anama. IMS. (1932-4- 7) (192.7-4- lst-2dc- v. 1,173 AnnArbor BOeT4Us RANGE registered i'anama, coupon Phil. 1)1. purchase 4s. 1334 Isl. publlo works ISM. Isl. 'public works 4s. District Columbia 3.4&S M px 93 Expr Ship. Am Am 1M0 Bald pf..l 1st B5.30 240 cv. 93.62 10:.. 1... .8114 94U S3 90 88 Hit 12 7B 11 471a 34 0434 82 IMS, ss, land ot 90 93 i 93 IS 4S 101 pz so x itn A B Pi 77 T9 L 11 3g 7U 34 Chi B & Q III 4s 1 Chi West 41 6 . . .. ,871s cv 8s M & fit I cv 4s 3 787g 10.......78!a 3 14.,,.,.. 20 ...78 C M Bt P fd 4Ks 2.... 10.... 8.... 4.... 8.... 8., ..03 ChlMltftBtP 4s 2 724 2..SO... 72 1 72 4 71S Chi Mil St P Oft P W 8s 4 981s Oft N Wgm Ss 1 981 8... . \ OA: N W rm \4a 8.,... .799 Chi ft NW 3Hs 3 7013 ChiRIftPref 4s 8 697g 20 Chi W Ind Is 7 81 Chile Copper 7s' 11 114 Chile Cbrper 8s 6 2 8RI3 0 7814 CCCAStL traits 10,, C71g Col 80 cxt 10 80 OJcE 1st 3 88 ComTabRee 8a 4 88g Con Oas cr es 43 too 20 100)8 .13 100 84 a IOOI4 ft 4s s DetCItyGas 8s 1U Cop ts Dn li.. . .1.7112 Erie 1st 4s 3 Erie cv 4s ser A 19 43 CT 4s rer D 8 4034 .7:49 1 4834 Hud ft M Bene A 37 80 5 5678 IIud&Man adl 3 C lSlg IllfnolaCen H 1 081 111 Is 1083 13....-...74J- 2 75l3 2 7B 3 IndlanaSteei 8s 3... 2 95 Interb R T ref 8S1M4 lo..,....87ia 17 .J. ...37 1. 11.... 1.... :::: 3.... 10.... 8..., 20..., AND GOVERNMENT Bid. 2s. registered 100 coupon .., H'O is. '\ 4s, coupon 1MU ft Ss. 1934. regiatered..., .. 131. coupon 9eVi .. 2s, Ss, Phil. 4s. Phil. 1938. 75 7434 Cent SS N 92 93 93 s; FOREIGN BONDS. Anrlo-Frenc- h Extern. 1X0 37U Argentine Intern. 8. 1915 73', Csnada. of. 6s. 1921 08 Canada, ot, 1974 98 Canada, of. 1931 9SH Chinese uov uu nug ny, m, ju. im Cuba Extern. 1144 9314 Cuba Extern. series A. 1940 904 Cuba Extern. 4Vis. 1349 n Dominican Rep. Ss. 1M4 91 rnndi. nordcaux CltT Ss. 1919 99 French, Lyons City 1919 iii French, City Ss. 1919 99 Vreneh. Paris CltT 8s. 1921 94' oot. 4HS, loan. is. Gov. 4Vs. 3d series. 19a.. 851; Gov. sterl. loan. 1331... S Japanese, Toklo City 1002 71 U. K. Q. B. ft I. S,yr. SHs, 1919.... 9HI U. K. G. M. ft S'yr. SHs, 944 U. K. Q. B. ft I. 20 SHs. 1937... 93V FOREIGN BONDS DEALT FLAT. Mexico Extern, '99, 1915 Mexico Extern, gold Closing prtcea stock which transactions yesterday: Ask. 9IH w A pf. B A Am pMOlK Amer Bid. Can A Cot 66i pt.lOSH Am A Snuff.. 128 Armour Sur pf.USH 111 Tob Tel w Arbor. Dry MH Dt.. pf..lMU Barrett cv. 4s 64 (1928) 4th AinT&T 001s 701 TBI B 4s rda 8!\8 Bkn O ft ft 111 Am 96H Ann IU is cv. gen ..B3i Ot .76 O ft .061- - 3..S30..88 6834 CCCAStL 414s Colombia mtgSi 80. Den Rio O 9012 Braden 4!s con 1.. fdft 8s ISIs BID 2s, ;s, Panama, Panama, CMABtP ....Oils Cs, Dominion Dominion Dominion 8s. 8s, 8s. Marseilles Japanese steri. Japanese Japanese 4s, ts. I. 1921.... JT. Ch pt pf lis 103 118 no 106 Bid. Beth 8 7. .100 pt.llJ Bkn Edison Bkn Un Gas 4H Brown Shoe ut...'.. Buff Burns pf.107 Bush Term. Dutterick... CalPack pf.lMVl South, 4JH Cent Fdy Leath pt.lOTtt CRR NJ.17S Tel..U5 Cert I'd lit Chi Alt.. pf Chlo I.,.. pf ,.100 ..851J .88' ..85U ..Off 4Hs 1001 01U Erie Erie 7Sla j .57 .5814 .881a .50 .351a .8318 .00 Ask. 99H 97H 76H 92S 79H 971i 100 100 100 96H 100 98H 93 IN sterl. 8s ot 49H 4a of '0t 1S14.. 43 of In there were no Al A do do Loc Amer va.ZiJ ...... 93 200 17 do 93 dn 2S 28 80 89 01 do fi 98 103 Ask. 117 do pf 97H 101 ft Susq 70 75 do R ft P 85 do pf U 85 33 Can do pf 40 0 of C 8 A 84 ft 8 do U B 9 O St P ft O 64 do 4 j 3 91 91 94 96 94 98 95 63 91 4 83 tt 89 71 . 43 hl 90 . 101 72 48 100 103 39 48 88 eo 110 2fC 113 90 10W 16 10 78 110 been larger than thev have been for any previous British offering except that of the first two year notes. The manner in which the current loan Is taken will have, of course, considerable bearing on subsequent loans to smaller govern- ments. The securities are of three and ten year maturities, at 6 per cent., sold on a basis to yield a trifle more than 6 per cent on the ten year notes and 6 per cent onfthoso running three years. A Forced Extension. On November 1 will mature $11,950,-00- 0 of International and- - Great Northern Railroad first mortgage 6' per cent bonds, and If ths present plan be carried out holders will be obliged to agree to their extension. Ths Railroad Administra- tion has approved Informally the plan to Issue three year notes bearing 7 per cent Interest, which the bonds will be offered for exchange. Holders who deposit their bonds will receive ths Nt; vember interest coupons and get the new 'notes. Those Who do not deposit will not receive the Interest coupons, but will have a claim against the railroad for an amount not to exceed 6 per cent. The premium which has been arranged In favor of extension is expected to result in prompt action by the bondholders. . J8.078.000 7.640,ouo ,' 816,415,000 LIBERTY . .331 95S 103 108 But t 100 for I O ECI4 2 681 2 8 864 S 607 Interboro-M- et col trust 4H 32 37 6 2S4 80 27 10 261s cerUOcatea 3. 3... 82... 0... 8... 8.. .37 ...30Y . ..Ifll3 ...261s ...2fll2 Int M Marine 8s 3 97)4 8 07 23 0718 3 07U 8 97 Ean O So ref 5s 7 80 Ran City So 3s 1 8914 KanCltyTer 4s 3 7B1S Lark SU 8s 1023 10 98 Lack Stl Es I'M 15 95 2 951s 10 961a 7 07 10 99 fl 1001 4 2 100 4 08 LriftMS 4s 1038 2 87 LSftMS 4S 1031 3 88 2 851s L 8 ft M 8 3Hs z 7Z con 4Ks Or 8b 8 81981 83 81 con Pac ft 3s l.l 7212 Lehigh Val s 2: 10134 1 IOII3 4 1013g 4. ..,..10134 Lou ft Nash 4s 4 v.S47g Lou ft N StL 3s 1 Penna m, 2 873s 44 Mo ft Tex 3d 1 34lg MoK&Tex fdg certificates 5 Mo Pac sm 4s 4 683a 81 68 1 677a 69 63 Mont Pwr Ss t 8034 MorrisAEs 8 Hi 2 723 Nat Tube 0418 NrwOrlTerlsA 1 69 NO Tex ft M 8s 18 N Y Cen deb 8s 4 15... 4... 1... 8... 32... 6... . ...W59 ...061 ....033 . . .9514 ....95 ..9478 Y Cen 4Hs 11 SO N Cen con 4s 25 73 6 83 N Y 1 70i 10 5 70Sa NYCenLS JH'I 2 03 3 .8412 NYOsa II ft 2 88 Wis 10... 6312 4 03 Ask. CCC&StL,..' do pf 63 ClereftPitts .. CI Peabodr. do pf ft S do 2d pt.. 48 Coal M .. Con, pl.100 lnsur.. 78 Det, Granbr 9 38 SI Hartman ... 83 Ilarv 60 Nick Pap Iowa Cen.,, 6 S Whl 6 S.ltS do S 78 W.. 17 M 1 pf.ioo td pf.,109 Man Beach. S Mackay 75 Marlln R... 61 .93.80 95.43 93.86 95.46 93.86 99.68 99.70 99.60 NYChlifltt 4s SanFran i I .At A. I 2....1..81 ft It cv 78 1 N Y Rys 4s zo 3 ..301j certificates 1 ...36U N Y 8 2, ,, ,'l ..lU'S 12. 10 '..10 certificates 8 Rys 3 80 Y 0934 8 098 A ton 3 44U 3... ....44 1 43ia NorfftW cr 1 6 1067a 1 10511, Norfolk ft V7 4s 22 SO 7 Northern ts 8 791a 2 79U 8 79l 1 registered 3 78U 8 7Sa NorthemPae Ss . ..50 States 1st 8s A 3 LehVal L 4s 3 of Pa 4a T 87 K 40 2 N Y 907g 001s rvnna 037a 0334 848 6234 OSia PeoO&O Pere Marq 883a Pierce 104'8 10434 IriUsrd Pitta Pub Berv Corp Reading 8413 8434 84lg 841a 844 .84lg 84U Cendeb4sRepIftS 1110 Oen JKi 701 ELt P4j NY Ont ft w.. 42i 80 Col lDf 19V4 Con Cig pf. 3tt Con Can Con Glf lpf Int Int pf. Int Salt Kan 40 Kel 97i Keo JSVi StL A N M 7tlo ref Rrs adl 10 87g NY IMs Tel deb V Bos 4Ka 4s 108 797 Pao 30. Nor Pwr fds LV Tel 3 3 Es 14 3 1 38 031 Pmn rm 4tl A 3 2 85 4Hs 1040 mi 3 ui Bs fdx Ss 2 B78 8s 3 1 851 2 863 Phil Co CV 6s 1932 8 Oil 8s till 8 4 P 7s 1 Ill 1 110 Ctn Chi St 4Kt \10 02 of N J 8s 3 64 8 85 8 64 gm 4a 2 3 8 8 1 IS 6 1 84 0.. N Ss 3 045. Rutland RR4HS 2 70 S 77 IStLftlronM 4s 4... StL 8 anFran Series 1 80 2 5814 10 583 - 10 . ...B8IJ 2.. .....6834 69 69 QUOTATIONS Bid. UiMW nf..l!0 1!J 70 106 SS S3 Crex Carpet 62 Cub AS pf.101 .. OLA W...181 18S Deere pf..,.100 102 Oet Baison.117'4 130 Den R O 9 SH DetMack.. W United. .. 108 Diam'nd M 118 Dul SS ft A SH 4H do pf 8 10 Elk R F pt 40 41 Blee Stor..ltO 184 Emer Br pf 92 Erle&P!t,te.. .. 70 Erie 2d pf.. 1714 19 Fed M S. 14 ' 17 Falrbks Gen Chem.,183 1H do pf 101 104 Gen Css Df.100 US pi. .IMS 104 M N, do pt GllStStl ptUS Homastake. pf 90 Int 90 40 KCFtS pf... C pt Sp T pf 93 Kel pf ADM. do pf 13 Kresge S pf 108 Kress II.. do pt 106 L E ft 10 do pf L ft pf..lW-Lorillsr- d ..228 do pf 110 Lse-- do Math Alk.. Y II ts 2 ai N I, 1.8834 A 00 A L B Y ft A 43 SO 84 H 88 SS ft 92 ft ft II 69 10 17 93 18 (S 93 \i 63 U S 100 8 50 168 109 88 It 31 15 t 73 43 M Dp 8 pf.lOSH Maxw 1 pf. 77 79 Mx Pet pf.107 Mich Cen.. .. MSSM pf... 94 do L L... 65 45 Mor 70 ,, 93.66 95.86 98.70 95.34 93.62 99.63 ..783a Ser Miavaie 831 pt.101 Gdrich 114 105 110 1U ISO us 103 100 111 101) 110 Essex, 93.66 95.42 93.76 96.42 93.74 99.60 99.66 .Net Chgs. .30 .06 .12 .08 .12 .02 .06 .30 60 I StL ft SanPran toe 4 10 424 I ' 1 4213 a 43 J.......77 BtLoufcSW 8s 4 Hi's 0 62 lOU.StPM&MMOSs NYWestcnest'r ASKED StLRockyMtSe 1 ,.. . ...D54 I airMAill\\ 4 77 Seabd A L ad I 2 4738 I Seabd AL ref 4s J 2 COIa SoBeOTftTelS. 1 9Uig S SD7s SouthPac cr 8s 50 1014 4 103 0 1078g e; 10794 10 10S34 10 1087g 12 109 1 lOflls 14 lOOU SouthPsc cv 4s 0 83IJ e 83U Bon th Pac ref 4s 10 80' 2 SOT 8 801g 1 791 South Pao 4s 1 731 So Pac SF ter 4a 2 7534 11 751a Southern Br s 1 88U 3 883g 1 8834 South Rygmls 1 649a 7 64'. Texas Oo cr 8s 6 104 3 104U 35 104 Tei & Pac 1st 8s 2 88I2 Third Ave 8s 10. ..92 ThlrdAT adj Ss 1 33U ThlrdAT ref 4s 2 511 ToMOO gm 8s 1 8:1 pf, Tol StL & W 4s 4 63i TJnPac T 81 II 1U.'I! 1 1078a CnlonPae ref 44 3 70ia Dn RR SF fd 3 291a tjn Trust ctfs 7 2914 United RylnvSs 21 737g USRealty&I M 10 771 7 78 U 8 Rubber 8s 6 88 U 8 SmdtlnR 81 nf.. 2 10612 C 8 Steel at 2 lOOIg 4 100 8 lOOIg 4 100 1..-- . 8....... 007 Ya ft BW cn 8s 2 6712 Wftbaah 2d 10 82ia Western Elec Ss 87U West Md 4s 1.- - 65 WestPadnc st 1 82U West Shore 44 3 76 Wilson ft Co cv 2 078a 071a Hid. Mon Pow;. 64 do pf....106 MuUinsBnt .. N C ft S L.110 NatEftS pf.101 Nat Ld Pf..l07 NatRyM lp 13 N Y Lao W 90 NYO ft SL. 29 do 1st pt.l 63 do 2d pf.. 46 Nor Cen.... 73 Nor Sou.... 12 N ft W. pf.. 66 North Am.. (9 Ohio Fuel.. S3 Owen B.pf. 98 Pac Coast.. 88 do 1st pf.. 70 do 2d pf.. 45 Pao T ft T. 31 Pan A pf...ra' Peoria ft E. 16 Pere M pf.. 46 do p pf... (4 Pt-M- ul 36 do pf 92' Pitts CI pf. 93 PitFwc pf.i.: Pit Stl pf.,,91 Pr St C pf.101 Pub Serv.. 70 RyStSp pf.104 RRSeclU c. .. Royal Dut..lOS Ren 8ar Read 2d pf. 36Vt Rem Ser 8,101 Seabd A L. 9 pf.,.116 8ioss-- S pf., 90 SL4.SF pf.. 26 Shattuck .. 13 Por Sur..Sno S Por. S pt.100 Stand Mill. 116 do pf 83 Studeb pf.,101 Sup Stl pf.lro Tide W 0...212 Tob'Pd pf.101 T S L ft W. do ao c do pf c, Twin City, do nf Underwd do ...lOOIg 10 8 ... S 16 ,. 10 , 29 . 43 ,. S3 ,.170 ..110 Un Cig Sts.216 .14 ao pi in U Drg\ 1 pf. 62H do 2d pf,.l46 USInAlc pfl04 Utah See... 12 Va-- C O Pf..ll4 West 1st pf 60 WestM pl. 21 Wilson pf.. 94 Wll Ovd pf 94 Wis Cen.... 83 Wolwth pf.114 WthgnpfA 17- - do pf B.. SO Ask. 107 CONSOLIDATED EXCHANGE. 99 113 103 108 16 U 70 to 74 14 72 (2 (3 101 60 100 60 34 235 17 41 .i 46 102 96 130 91 106 71 110 75 107 111 37 9 118 as 29 14 226 118 168 U 103 tu 104 12 25 12 46 124 Ul lis 246 'I? 107 76 U 100 96 91 116 M On unexpected demand for the stand- ard rails during the last hour on the Consolidated Stock Exchange those shares were advanced yesterday briskly. despite the reneral downward trend, enaing at ngures approximating the maximum after average gains of f to 2 points. The wave of liquidation was effective in causing wide recessions in all other groups, losses averaging 2 to 12 points less than early highs. Honey was in plentiful supply, the rate falling as low as 4 psr cent for time funds. Lackawanna Steel was the feature at the outset, advancing 16 to 104, falling to 90. Republlo Steel fill back 11 from Its early high, to 107, ending at 110. Crucible Steel moved down 11 from Its early high to 347, and finished at 252. Bethlehem Steel 13 fell back 6 to 106. M:dvale 3 to 53, and United Mates steel common 3 to 108. Baldwin Locomotlvo was offered down 8 to 143, American Locomotive 3 to 107, nnd Car and Foundry 3 to 184 Free From All Federal Income Tuei City and County or San Francisco California 4 Water Bonds Due Serially 1926-195- 4 Price to Yield 4.75 A legal. investment for Savings Banks and Trustees in New York, Massachusetts and Con- necticut. Circular upon request Member New Tork Jt Pittsburgh Stock Exrhanges. 33 Pine St. Union Arcndo 1)1 dg. New York Plttsbursh Gulf Oil CORPORATION The Largest Producer of Crude Oil tn the united States and ths Most Powerful Independent Oil (Jomcaay. Special Analysis on Request Glide, Winmill & Co. Members N. Y. Htock Exchange 20 JIBOAD ST. NEW YORK MUNCHES EAST 45TU ST., N. T. GLEN COVE, L. I. FAST WIRE SERVICE Chicago Stocks Swift & Co. Swift International Libby, McNeill & Libby National' Leather Union Carbide, etc. Orderas oli cited in . stocks listed on the Chi- cago Stock Exchange. Drecf Private Wires Ware&LeBand New' York Mock Exchange Now York Cotton Kirhanga Members New York l'roduco Exchange Chicaso S took Exchanite Chicago Board of Trade Pittsburgh Stock Exchange BowPtnsnOreen nl B'WAY. N. Y. 10090-1- ) GLENROCK OIL Second annual report of ths company discloses reasons for late market action of this stock. Careful analysis of this report given in current edition of our \FINANCIAL FORECAST.\ Among Other Issues Treated Arei SIMMS PETROLEUM MARLAND REFINING LOEW, INCORPORATED In requesting copies at.k for Nn, 85, Sent uithoul otlitatlon. ESTABLISHED 1906 41 BROAD SfcNEWYURK .Phone-Bro- ad 35 W. F. Ladd & Co. Saesss.srs t TflHay, LUU Oss Investment Securities New York TO BEY & KRRK re.MHERS N. Y. STOCK EXC'lIAM WANT ATLAS PORTLAND CEMENT Amer. Lt. u. Trait. Cities Serv. Com, & Pfd. Stand. Gas & El. Com. & Pid St. Louis Rr. Mt. Com. H.F.McConnell&Co. Member TV. Y. Srnnk Kxchanae ii Pino Ml. Tel. tOti John New 1 M