{ title: 'The sun. (New York [N.Y.]) 1916-1920, November 17, 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/sn83030431/1919-11-17/ed-1/seq-12/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83030431/1919-11-17/ed-1/seq-12.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83030431/1919-11-17/ed-1/seq-12/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83030431/1919-11-17/ed-1/seq-12/ocr.txt', label: 'text/plain', meta: '', }, ] }
Image provided by: New York Public Library
Schulte Retail Stores Aetna Explosives Pfd. Buckeye Pipe Mexican Eagle Standard Oil of Kansas Bucyrus nwnn ! New Orleans Term. 4s 1953 O'Gara Coal 5s 1955 Federal Lt.& Tract. 5s 1942 Western Lt. & Pr. 5s 19Z5 Premier Motor 6s 1921 Northampton Tract. 5s 1933 Louisiana Oil &Ref. 6s 1927 florton Lachenbruch & Co. jIILADELPniA lindTltl.i Bide. rTtl.Spruct3St L Hartshorne, Fales & Co. Memhtis New York Stock Exchonit 71 Broadway Tt'itplumt 7610 Boating Cnen Investment Suggestions Ask for Our Booklet November Offerings in a of and Prico forced the traders to their bearing at a time when feverish upblddlnr of shares was adding new bur- den to the loan account The haa prepared the way for relieving the pressure on, foreign ex- changes and the Federal Reserve Board's Importance as a great fac.or In tho money situation. The Is a new era In leadership In will entail heavy and the sort Of money market direction which will an of borrowers' needs. the Coal Strike. be when the Is actually settled and production of LIST (SELLS OFF Much will coal like Lato' Recovery of Stocks Is Dne to Heavy on Part Public. Sales for lucre, By WILLIAM JUSTUS IIOIES. niih. I iiw. The stock market situation Is to-d- 64 29 54 21 much stroneor In consequence of the 7G 66 heroic cutting down of speculatlvo com- mitments 113 66 which followed the short cut 4 2 NEW YORK measures of tho Federal Reserve Board 3 1 42 Broad Ht. to get the New York loan account on a 51 30 Ttl. Brood 7300. safer basis. It was effective work of 97 81 high Importance and done In a manner 113Ji 87 which brought fresh credit to executive 10? 94 of a banking system, which the 65 33 lato Sir Edward II. Holden, the great 5114 42 London banker, declared ''surpasses In 101 62 strength and In any other 95 84 banking system In the world.\ The 143 84 events of last week, therefore, gave tha 97 90 speculative community a new respect 63 42 for the Federal Reserve system and the 107 98 probability Is that If the board had tho 148 84 samo work to do again lt would not 119 113 long It did In this delay action as as 674 39 known that Gov. Strong instance. It is 14 U 10 of the Federal Reserve Bank of this 103 SI city. Gates W. SIcGarrah, formerly 43 13 acting head of the famous money pool 142 71 committee, and other money market ex- perts 76 37 reached long ago the conclusion 76 4 that the autumn money market In a year ot' record foreign financing and Intense 132 52 89 44 credit strain was scarcely a propitious timo to finance a speculative movement 98 85 117 53 In already Inflated Industrial 109 100 Burton Situation Averted. 63 62 47 32 In the light of what has happened lt 89 62 Is safe, 'therefore, to say that the mar- ket 109 97 has been saved from what might 94 80 have been a ecrlous money spasm had not 140 105 two Federal Reserve Board executive 47 33 officers come here for their hurried con- ference 96 91 with Wall bankers last 148 111 we\ek. Tho Incident recalled the flying 119 113 r,r n iWaiIa aea of hlch United 120 73 j Treasury officials to discuss with 105 96 bankers here causes buck, ui ouuuo 314 191 rise In call loan rates to BO, 75 or 100 106 96 per cent. In .those days tho relief 149 45 measures were so restricted by the hard 110 94 and fast cash reserve regulations that It 69 27 was difficult to provldo necessary assist- ance. 29 11 But with twelve central reserve 65 40 banks on the job It Is easy for 8,000 t77 56 ofniintfri member banks of the country 13 1 to meet pretty nearly all demands that 2? 15 can be made on them, providing the 7 1 reserve basis has not been weakened 60 17 by great overextension of speculative 82 61 loans. The ratio of cash to deposrtts 80! 58 and notes has been and the 142 68 v,mV nnsltlon fortified In a man 104 86 ner which Insures ample accommodatlpn 89 for mercantile borrowers. 15; 6 Strensth of Ilcservo 107 90 192 92 Kvery big and little speculator here- after 76 64 will entertain a wholesome respect 20 15 fr fh Federal Reserve Board and be 34 29 ant to heed Its warnings concerning 156 64 futility of forcing speculation In a few 55 38 badly Inflated shares at a time when 59 49 money market firllltles ought to be 99 93 otherwise The atmosphere has been 94 91 clarified by liquidation that has taken 145 103 place and, although paper profits have 119 110 the loan account has been 2 nurlfled and the New York stock mar 45 26 ket's explosion hazard, a risk of serious 107 65 potential disturbance, properly con- trolled. 116 101 out of weak speculative 112 55 accounts Invariably such a 14 nrocMS and there are Injured traders 102 97 who complain bitterly of the treatment 33 18 which they have received and foolishly 28 13 as thoy misjudge their as nave 92 57 manv others who ever since me armi 112 97 stlca was sicned havo seen nothing but 101 97 ' sunshine and bluo yky ahead. With tho 15 S ycai end financial only six 166 117 weeks away and belligerent and neutral 39 16 countries making urgent on us 17 5 for loans and covering necessary 37 16 purchases of American food supplies, 54 27 raw materials and clothing, It was natu- ral 84 48 that the leading United States finan 120 109 cial Interests should prepare, aa was 56 20 suggested In this column last week, \to 81 64 flnanco the needs of the crippled nations S6 56 first, no matter how urgent may be 170 145 speculative borrowors 101 91 74 27 nendjnsttng Prices. 116 56 111 104 November and May are tho months In 120 115 which drastic readjustment In tho money 67 31 market often takes place. In this month 65 30 tbe situation has been made exception 141 60 ally Interesting bv prevalence of social 68 53 unrest. consideration of 13 the peaco treaty, Governmental attitude 17 8 ngalnst anarchists and radical leaders, 12 7 court proceedings against soft coal 30 22 miners, world wide work and sava cam- paign, 52 34 placing In this market of Great 76 60 llritaln's 1250,000,000 loan and other 105 89 foreign Government offerings and ar 133 117 rancements underway to provide what 113 68 probably will be the heaviest dividend 32 22 nnd Interest disbursement fund ever 73 55 financed by New York banks. Besides 84 68 In a period of reconstruction flnanco al 82 65 most might happen to alter 107 99 money market nnd make 29 17 necessary the banks' support of new uv 'a 32 connected with European 54 32 relief work, In which this country Is en- gaged. 95 60 Thj general bank position Is 43 39 sound and, the crop movement at 06 34 an ond, seasonal withdrawals have been 31 19 pretty well provided for. Preparations 69 39 for tho Government to surrender the 75 50 railroads to their owners by the close 95 94 of next month must be made and Con-ge- ss 63 37 Is occupied with the task of formu- lating 75 64 the necessary legislation. soy 78 106 87 'Whole Situation Strengthened. 23 5 With the abandonment of excessive 37 ,32 speculation In securities money market 103 65 overstrain has been relieved, and It will 15 10 be possible for banks to finance genuine 99 46 Investment demand which ordinarily de- velops 109 102 about the'tlmo that the year end 261 52 dtvldond and Interest payments are being 105 91 made. There Is still a good undertone 410 150 to security trading, and violence of 46 20 recovery from the level touched In the 87 69 course of last week's liquidation reflected 103 93 absorptive power of a market governed no 100 largely by optimistic for tha 217 172 longer future.' Public buying of securi- ties 15 3 reached largo proportions, and a 24 6 good were paid for 120 110 GLIDDEN, DAVIDGE & CO. MiT.hcrt N. Y. Stock Exchani , 20 Broad Street New York J. K. Rice, Jr. & Co. Will Buy Insurance Stock , American Alliance Ins. City of New York Ins. Contirifcntal Ins. Fidelity Phenix Ins. Franklin Ins. Federal Ins. Home Ins. National Liberty Ins. Niagara Ins. NortrMiver Ins. U. S.- - Fire Ins. Westchester Int. Bank & Trust Co. Stocks American Surety Bank of Long Island Bank of New York Battery Park Nat'l Bank Bankers Trust Chase National Bank Commonwealth Bank Com Exchange Bank Farmers Loan & Trust Irving National Bank Liberty National Bank Mechanics & Metals Bank J.K.Rice,Jr.&Co. rbones 4000 to 4010 John. St Wall St.. N.Y. with Common Stock Bonus Write for details ef the Cadet Hosiery Company Preferred Stock Issue CIRCULAR C. S. Farson,Son&Co. Member Ke York Stock Etchings 115 Broadway, New York Woodward Iron Slock & Bond Merrill, Lynch & Co. Trading Department 120 Biodw,y, New York tboa Ureter 'OT0 FINANCIAL HEWS AND THE SITUATION Governing Factors Week Terrific Liquidation Declines. take Industrial movement other financing, emphaslxlne country entering wnlch Its International finance responsibilities force equitable appraisement contending Settling accomplished some- thing normal steam WHOLE strike Buying 'of heads excellence stocks. Street States strengthened System. used dwindled, Shaking accompanies marKets settlement demands credits requirements.\ Congressional anything conditions undertakings with sentiment securities many 16 10 ana tnxen out or mo marxet. .Many buying orders could not be executed, 43 27 the recovery being too rapid t,o en- able 49 40 brokerj to obtain securities at 43 28 prices named. That the public took a 101 strong position on the buying side, wlui 141 80 orders sufficient to check the selling 106 101 which took place, was significant Most 20 14 of this buying was In stocks that could 33 23 be safely purchased for Income account, 23 16 f assuring their holders liberal enough re- turn 94 73 to protect them over tha Interval 123 S3 of exceptionally high living costs. In 1 1 i that way the Investment position has 23 9 'been altered during a week of exciting 48 28 speculation In the stock market, which 173 38 was fast becoming topneavy through 110 91 'pyramiding of accounts and overexten 55 39 sion of loans to rpcculallve cliques, pools 64 33 and Individual traders. 3S 21 95 47 Illmcnlt Time Averted. 106 96 That tho reckoning was accomplished 101 95 without disaster to any one or failure 176 144 of a single brokerage bouse Is signifi- cant. 406 118 Heavy losses have been taken, 95 8: but the net result has been highly bene- ficial 94 82 In tha sense that the liquidation 93 56 eliminated numerous weak' accounts and 109J4 103 A THE SUN, MONDAY, NOVEMBER 17, making fuel assured. The threatened 'coal strike has been a factor of much disturbance, although, fortunately, court action relieved the situation at a time when serious complications appeared threatening. The people have won out In that struggle to the extent that even the unions realise that It would be wrong for them to attempt to tie up a great Industry Just because their de- mands were not granted. It will be less easy for organised labor to ride rough- shod over the people and It Is well within possibilities that, as a result of the na- tionwide disgust with that effort to put the country out of business. Congress may enact laws which will forbid such summary action by vital Industries' em- ployees. Employers also realise their duties In the situation and It Is probable TOTAL TRANSACTIONS IN THE Week Ended 1918. 1917. week 10,188,332 3,444.620 2,434,210 la DlT t. I Sain. I Open. I fflfh. Liftr. I tut. Chanrr. Net 900 Adams Express 35 36 34 34. 1 9400 Advance Rumoly 41 43 38 42 2300 Advance Itumely pf 71 72 70 72 10300 AJax Rubber 90 91 80 88 2 2800 Alaska OoM M 2 2 2 2 7700' Alaska- - Juneau G M 1 1 1 1 24600 Allls Chalmers Mfg 45 45 41 43 1 1400 Allla Chalmers Mfg pf . . . 94 94 92 92 2 3700 Am Agrlo Chem 94 95 91 95 300 Am Agrlc Chem pf 95 95 95 95 1 400 Am Bank Noto 48 48 45 4\5 3 100 Am Bank Noto pf 47 47 47 47 18500 Am Beet Sugar 95 95 90 93 3 300 Am Beet Sugar pf 88 88 83 S3 5 26500 Amer Booch Magneto.... 134 137 118 128 9 200 Am Brake Shoo & Fdry. . 92 92 90 90 4 48100 Am Can 62 62 63 55 6 400 Am Cnn pf 102 102 102 102 53100 Am Car & Foundry 138 138 133 136 n 7 400 Am'Cor & Foundry pf... 116 115 115 116 -- ' 4 SS00 Am Cotton Oil cx llv.... 55 66 52 53j ,i 80c 6500 Am Druggist Syndicate . 10 10 10 10 T 400 Am Express 85 88 81 83 3 21200 Am Hide & Leather soya 35 31 '34 19500 Am Hide & Leather pf . . . 130 130 120 126 4 6700 Am Ico 47 48 42 45 2 3500 Am Ico pf 66 67 61 65 4 4.80 71200 Am International Corp... 121 124 112 114 8 697001Am Linseed Co. 85 86 68 72 13 200 Am Linseed Co pf 95 95 95 95 3 98800 Am Locomotlvo 104 104 91 97 6 700 Am Locomotive pf 106 106 105 106 3700 Am Malt & drain 65 65 50 53 72100 Am Ship & Commerce. , 40 32 35 50300 Am Smelt & Ref 72 67 70 1000 Am Smelt A Ref pf...., 100 101 100 101 1 300 Am \molt Sec A........ 80 82 80 82 2 300 Am Snuff 121 121 121 121 3 17100 Am Steel Foundries: 44 44 39 42 1 1400 Am Stoel Foundries pf . . 93: 93 91 93 1 35100 Am Sugar Ref 138 139 132 137 1. 100 Am Sugar Ref pf 116 116 116 116 70200 Am Sumatra Tob 102 102 88 89 13 24800 Am Tel & Tel.... 99 101 99 100 1 23330 Am Tobacco ex dlv. . . . 300 300 140 60 -4- 0 400 Am Tobacco pf new. . . 99 100 9? 100 56420 Am Woolen 136 137 113 127 10 400 Am Woolen pf 104 104 103 103 1 9800 Am Writ Paper pf 64 64 55 62 3 8700 Am Zinc, L & Smelt... 20 20 17 18 1 400 Am Zinc, L & Smelt pf 57 57 66 56 \ 56300 Anaconda Copper 65 66 63 65 900 Ann Arbor 8 12 8 10 - 2 100 Ann Arbor pf 20 20 20 20 5 19S00 Assets Realization 4 7 4 7 3 3400lAssoclated Dry Goods.... 53 53' 50 51 2 650IASSO Dry Goods 1st pr.. 75 75 74 74 2 lOOiAsso Dry Goods 2d pf... 74 74 74 1 3200 Associated Oil Co 138 138 98 121 17 22700 Atch, Top & Santa Ko... 92 86 91 3700 Atch, Top & Santa Fo pf, 79 79 78 7S 1 700 Atlanta, Blrm & Atl 9 1UU 9 9 1 1600 Atlantic Coast Line 94 95 91 95 1 33700 At, Gulf & W I S S 179 ISO 157 16S -1- 2 200 At, Gulf. & W I S S pf... 71 71 71 71 8200 Auto Sales Corp 4 n 15 17 1400 Auto Sales Corp pf 33 34 31 31 rig 156500 Baldwin Loco Worka.... 134 134 103 108 18750 Baltimore & Ohto...S-- .. 39 40 38 40 2200 Baltimore & Ohio pf 60 51 49 61 100 Barnet Leather 93 93 93 93 3 600 Barnet Leather pf 94 95 94 94 -- r 1'. 9500 Barrett Co 130 130 113 120 -1- 0 200 Barrett Co pf 114 114 114 114 1 11 4100tUatoptlas Mining 1 1 1 1 20700IBethIehem Motors 35 35 27 31 ' -- 4 2500lBeth!ehcm Steel 103 103 90 93 I 5 1700 Bethlehem Steel 8 p c pf. 115 115 113 114: 1 232700 Bethlehem Steel B 103 104 93 97 6 9400 Booth Fisheries 16 16: 14 15! 1 100 Brooklyn Edison Co 97 97 97 97 6400lBrooklyn Rapid Transit, 13 21 18 19 3500 Bklyn Rap T ctfs of dep. 15 15i 13 14 1100 Brooklyn Union Gas 57 61 57 61 2 600 Brown Shoe 105 105 105 105 3 300 iBrown Shoo pf 93 99 98 08 1 600 Bruns Term & It a 11 11 9 9 2S00 Burns Bros 130 130 117 122 10 2800 Butterick Co 30 27 23 1 16100 Butte Copper & Zinc 10 10 9 io: 10900 Butte & Superior Cop.... 24 25 20 23 1 9200 Caddo Cent O&R 32 32 27 29 2 13300 California Pack Co 81 81 73 78 2 300 California Pack Co pf.T.. 120 120 120 120 27400 California Petroleum 60 51 40 48 4 2800 California Petroleum pr.. SO 80 76 77 8 900 Calumet & Arizona !? 71 69 70 1 10700 Canadian Pacific 149 150 145 148 1 600 Case, J I, Threo Mach pf. 99 99 98 98 2 100 Central Kounary pr 53 53 53 .58 6 97900 Central Leather 104 104 94 9S 2400 Central Leather pf 107 108 107 103 100 Central & 3o Am Tel 115 115 116 115 S7200 Ccrro de Pasco Copper... 69 55 69 1 3900 Certaln-tee- d Prod Corp.. 67 59 47 65 53700 Chandler Motors 134 ' 134 90 117 17 S000 Chesapeake & Ohio 57 61 55 53 IVi 200 Chl & E 111 Eqult Tr ctfs. 6 7 6 7 600 Chi & E I pf Eq Tr ctrs. 8 8 8 8 1 4100 Chicago Gt Western 9 9 9 1400 Chicago Gt Western pf.. 26 27 25 27 1 42900 Chicago, Mil & St Paul.. 43 45 41 44 1 14200 Chicago. Mil & St P pf... 65 66 61 65 1 10000 Chicago & Northwestern. 90 93 90 92 1 600 Chicago & Northwcat pf. 119 120 119 120 3500 Chicago Pneumatic took 112 112 106 107 4 31200 Chicago, R I & Pacific. . . 28 30 26 30 1 3400 CM, R I Pac 6 p c pr. . 65 65 01 65 1700 Chl, R I & Pac 7 p c pf . . 76 76 73 76 1 200 CM, St P, M & Omaha... 65 65 65 65 200 CM, St P. il & Omaha pf. 99 99 99 99 6 18100 Chile Copper 21 21 20 21 8600 Chlno Copper 41 41 33 40 1900 Cleve, C, C & St Louis... 43 47 40 47 3 1300! Cluett, Pcabody & Co.... 82 87 80 87 5 18700 Coca Cola 42 43 39 41 1 8400 Col Fuel & Iron 45 45 40 44 1 1600 Colorado & Southern 23 25 23 25 1 8700 Columbia G & Elec 64 64 59 62. 1 87400 Columbia Graphophone.. 70 71 59 65 5 400 Columbia Grapho pf 95 95 94 94 1 300! Comp Tab Record 65 55 65 55 o 1700 Consolidated Cigar 68 6S 61 63 5 400 Consolidated Cigar pf .. . . 81 81 80 80 2 8300 Consol Gas ex dlv 93 95 90 94 2 9400 Con Interstate Cal Min.. 13 19 16 18 6400 Consolidated Textile 34 37 32 36 6000 Continental Can 92 92 87 92 - 1 19800 Continental Candy 14 14 12 13 - 110400 Conv Products Rer 91 92 83 86 - 6 800 Corn Products Ref pf....l 107 107 103 63100 Crucible Steol Co 226 209 20 - 6 900 Crucible Steel Co pf 102 101 101 - 1 900 Cuban Am Sugar 355 375 364 376 a 61500 Cubi Cano Sugar 43 44 39 44 Vi 6300 Cuba Cane Sugar pf 83 83 81 00 \ 100 Deere & Co pf 101 101 101 101 1400 Delaware & Hudson 101 103 101 103 2 4?, 800 Del, Lack & Western 183 190 182 190 7 800 Denver & Rio Grande. . . . 9 9 8 9 24700 Denver & Rio Grande pf . 17 IS 15 17 10 Detroit Edison Co 112 112 112 112 3400 Dome Mines 13 13 12 13 - 4600 Klk Horn Coal Corp 35 35 32 34 - 1 300 Elk Horn Coal Corp pf . . 40 42 40 42 3 1000 Emarson-Brantln- g 31 32 30 30 2 100 Emerson-Brantln- g pf.... 92 92 92 92 3 12500 Endlcott Johnson 135 137 123 130 1400 Endlcott Johnson pf 105 105 103 104 - 2 16300 Erlo 15 16 14 7000 Erie 1st pf 25 26 23 26 800 Erie 2d pf 18 18 18 18 1600 Fairbanks Co 90 90 84 17000 Famous Play-- L cx rts... 106. 106 93 -- 8 11700 Famous Playera-- L rts... 1 1 1 1 200 Federal Mln & Smelt 11 11 11 11 600 Federal Mln & Smelt pf.. 80 31 28 31 19001 Fisher Body Corp 131 134 121 134 23 100 Fisher Body Corp Pf 106 106 106 106 89700 Flsk Rubbsr 48 48 33 44 6 16400 Frcoport Texas cx dlv... 44 44 38 42 1 9900 Gaston. W & Wigmoro.. 24 25 21 23 2 21100 General Cigar Co 80 80 70 74 5 600 Gen Clear Co pr ex dir. . 97 97 96 96 10 8001 General Cigar Co deb pf. 95 95 95 95 1 6400 General Electric Co 163 173 165 171 2 144900 General Motor Corp 380 288 280 311 77 1400 General Motor Corp pf . . 90 91 90 30 1 4200 General Motor Corp ueh. 86 87 83 86 1 49400 Goodrich, B F 85 86 73 82 4 000j Goodrich, 03 F, irf 104 104 104 ,10454 ft 7 things to be done before all f that financing will be possible, when our banking Interests are wrestling with the problem of financing the ultimate o the railroads to then- - private owners. The American people are going ahead, doing business quietly and mak- ing conspicuous progress In lines tnai they knew little about before the war. It Is an unprecedented situation and one which must be provided for on day to day basis of solvlns every problem as shall appear. The longer future Is ap- parently assured If no extraordinary obstacles be encountered at home or abroad. .Important developments are pending, but the nation Is going strong under momentum sufficient to carry it over the reconstruction periods rougn places. that they will pursue a less selfish poli- cy In cases In which they are asked to confer with labor representatives con- cerning formulation of contracts cover- ing wages and working conditions. With abandonment of war time re- strictions on new capital Issues by Lon- don all great security markets may be said to be doing business on normal bases. Negotiations under way In Lon- don may result In offering to American Investors considerable blocks of English securities for prices which will Bhow generous Income returns. Such a course will bo necessary to attract' broad In- vestment support In this country And offer effective competition with the new capital Issues being made by Govern- ment, State, municipal and corporation borrowers on this aide. There are many NEW YORK STOCK EXCHANGE November 15, 1919. 1919. 1918. January 1 to date 276.701.730 125.419,501 Hante. 119. Dirl f Hlth.l Lev. In J.I Ralra. Open, i High. . HO 61 700 Granby Consol M & S. . . 64 64 61 100 83 22696 Great Northern pf 84 87 33 52 31 24400 Great Northern Ore ctfs 41 42 39 47 35 4100 Greene Cananea Cop.... 40 40 35 12 7 300 Gulf, Mobile & North... 9 9 8 40 31 300 Gulf, Mobile & North pf 36 36 35 83 49 10400 Gulf States Steel 75 76 65 96 84 200 Hartman 'Corp 88 88 87 71 40 10900 Haskell & Barker Car... 62 62 55 100 60 400 Homcstake Mining 64 65 64 104 90 2400 Illinois Central cx dlv... 91 93 90 68 42 27100 Inspiration Con Copper. 58 58 65 9 3 13300 Interboro Con Corp 6 5 5 31 11 8500 Interboro Con Corp pf . . 17 19 16 37 10 1900 Int Agrl Corp 24 24 20 91 48 1500 Int Agrl Corp pf 84 85 81 U9 110 10100 Int Harvester Co new... 135 138 128 120 113 22 Int Harvester Co pf new 114 114 114 67 21 69200 Int Mcr Marine 69 59 60 123 92 60400! Int Mer Marino pf.. 108 109 102 33 24 40900llntcmatlonal Nickel 26 26 S2 60 94900Internatlonal Paper. 73: 75 66 80 62 900 Inter Paper pf stpd 78 73 7S 65 37 2600 Iron Products Corp.... 52' 62 37 43 18 1100 Jewel Tea 25 25 21 91 69 200 Jewel Tea pf 67 67 66 44 28! 1200 Jones Bros Tea 32 33 23 25 16 2400 Kansas City Southern. 18 20 13 57 48 300 Kansas City Southern pfJ 48 49 43 130 105 100 Kayser. Julius & Co 120 120 120 164 63 21400 Kelly SprlngflaM Tire.... 152 156 130 102 1600 Kelly Spg Tire 8 p c pf . . 106 106 105 115 34 3300 Kelsey Wheel Co 102 102 67 43 23 27800 Kennecott Copper 32 32 30 126 48 L20 70900 Keystone Tire & Rubber. 63 63 49 170 106 400 Krcsge co, a s 150 150 140 89 60 200 Kress, S H & Co 73 3 77 110 105 100 Kress, S H & Co pf 110 110 110 107 62 107400 Lackawanna Steel Co.... 93 84 83 40 500 Laclede Gas of St L 46 5 40 14 600 Lake Erlo & Western. . . . 10 \ 10 9 25 16 100 Lako Erlo & Western pf. 21 21 21 40 21 4600 Leo Rubber & Tiro cx rts 36 36 33 1 7700 Lee Rubber & Tire rts. 1 1 60 44 3 12500 Lehleh Valley 46 46 44 60 201 12 1300 Liggett & Myers Tobacco 200 05 199 81 40 1400 Loose-Wil- Biscuit .... 76 76 69 106 94 100 Loosc-- Biscuit 1st pf, 100 100 100 45 147 12 4400 Lorlllard. P, Tobacco . . . 201 201 187 115 107 100 Lorlllard. P, Tobacco pf . 114 114 114 122 107 3600 Louisville & Nashville... 111 114 108 79 70 6 200 fjinlrnv-7- 73 73 73 C6 63 4 300'Mackav Cos pf. 64 64 64 38 47 7 1600lManhat Elevated guar.. 62 65 38 29 1 2400lManhattan .Shirt 31 34 29 S0 61 6 400lMarlln Rockwell Corp... 67 70 67 31 27' 1500 Martin-Parr- y Corp 30 30 27 61 2R ' 21500 Maxwo! Motor .... H?4 47 39 41 39 600 Maxwell Motor cts of dep 40 43 39 S4 50 2700 Maxwell Motor 1st pf 76 70 63 46 19 .J 2500 Maxwell Motor 2d pf. 39 39 32 34 33 . . 300 Max Mot 2d pf eta of dep 33 34 33 12S 60 7i 3300'May Department Stores.. 120 126 111 110 101 1' lOOjMay Departmt Stores pf. 107 107 107 261 162 10!234200iMexIcan Petroleum 240 242 186 112 105 sj lOOiMexIcan Petroleum pf... 110 110 110 32 21 2! 3600lMlaml Copper 26 26 25 68 32 1.20 27175tMlddle States Oil 61 62 56: 62 40 4! 82100lMldval? Steel & Ord 63 63 60 24 9 6000 Minn & St Louis new.... 17 18 15 98 84 050 Minn. St P & S S M S7 87 85 109 96 200!MInn, St P & S S M pf... 96 99 96 16 4 20000 Missouri, Kan & Tex ... 12 13 11 25 8 1400 Missouri, Kan & Tex pf, 17 19 16 38 22 .. 23200lMlsfiourl Pacific 29 30 27 58 43W ..I 4000'Missouri Pacific pf 47 48 43 84 61l 3j 400Montana Power 61 63 61 72 71:3.60 1000 Morris & Eesex 70 70 70 53 40 3 4500 Mulllns Body 47 40 43 29 3 4700'Nat Acme Co ex dlv... 37 37 36 45 IlSOOIN'atlonal Aniline & Chem 73 65 JlVzt 87 7 900lNational Aniline 4 Ch pf 90 90 87 139 1107 71 900lNational Biscuit Co 123 123 115 121 !115 300Natlonal Biscuit Co pf. 115 115 115 92 0 5 1300 National Cloak & Suit 81 81 77 10S 103 7 300 National Cloak & Suit pf 104 104 103 24 12 8100 National Conduit & Cable 14 14 12 8S 45 5900. Nat En & Stamp ex dlv.. SO S0 74 101 93 4001 National Enam & St rjf.. 101 101 101 94 64 5 1SS0O National Lead Co SS 88 SK 112 102 ri innivotinnlii t &aA rv. r,f '107 103 107 14 5 700tNat R R of Mexico 2d pf. 7 7 6 21 15 1 2700iNevada Con Copper 16 17 16 50 28 1600 New Orleans, Tex & Mex. 47 47 46 145 31 10 9300l.\cw York Air Brake 132 132 113 83 69 6 15700New York Central 73 75 71 33 23 900 New York, Chic & St L.. 29 30 29 63 40 100'n Y. C & St L 2d Pf 40 40 40 70 19 2 2900iNew York Dock 54 54 45 75 44 2 400iNew Yo'k Dock pf. 63 63 60 40 25 36S00 New York, N H & Hart., 33 35 30 24 18 600 New York, Ont & West. 20 20 19 20 13 300 Norfolk Southern 13 14 13 112 98 4600 Norfolk & Western ..... 101 103 99 76 69 4 100 Norfolk & Western pf.., 67 67 67 66 47 5 200 North American Co 68 56 99 84' 7 20836' Northern Pacific 85 88 S3 97 46 6 12900 Nova Scotia S & C 79 79 66 61 35 4 67800 Ohio Cities Gaa ex dlv. . 52 63 60 55 43 2 300 Ohio Fuel Supply 52 62 50 13 8 50c 49700 Oklahoma Prod & Ref.., 9 9 8 11 6 3!00 Ontario Silver Mining. . . 10 10 9 149 123 2200 Otis Elevator 138 142 128 39 35 2900 Otis Steel 36 39 35 74 46 5500 Owens Bottle Co 65 66 69 80 73 3 900 Pjiclflc Development . . 75 76 75 75 61 5 300 Pacific Gas & Electric 62 62 62 42 29 900 Pacific Mall 38 37 39 600 Pacific Tel & Tel 38 38 34 140 90 167800 Pan-Am- er Petrol & T 123 128 104 JU 1 400 Pan-Am- er Petrol & T rts 21 1 48 42 21950'Penn.oylvnnia R R 42 43 42 53 27 12900jPenn Seaboard Steel .... 40 41 32 57 38 4S00 Peoples Gas, Chicago.... 40 42 38 20 4 100 Peoria & Eastern 14 14 14 26 12 45700 Pere Marquetto 24 26 22 49 43 700lPere Marquette pf 47 49 45 67 66 OOOlPete Marquette prior pf. 65 65 63 43 30 2200 Philadelphia Co 33 33 31 99 38 305500 Plerce-Arro- w Motor 91 93 60 111 101 1100 Plerce-Arro- w Motor pf.. . 109 109 103 28 16 20500 Pierce Oil Corp 20 20 18 105 101 1000 Pierce OH Corp pf 103 103 101 72 44 1300 Pitts, C, C & St Louis... 68 70 67 74- - 45 8600 Pltburg Coal of Ta.... 62 64 60 98 85 100 Pittsburg Coal of Pa pf . . 93 93 93 93 90 500 Pittsburg Steel pf 94 94 94 44 29 4500 Pittsburg & West Va . . , 31 33 29 84 7S 200lPIttsburg & \West Va pf, 78 78 78 31 12 6800Pond Creek Coal 26 27 23 109 59 81800iPressed Steel Car ex dlv. 10S 96 106 100 200 Pressed Steel Car pf. . . . 102 401 132 112 5500 Pullman Co 123 124 120 97 51 33900 Punta Alegre Sugar...., 85 36 78 107 68 10900 Railway Steel Spring . . 101 101 95 112 104 200 Railway Steel Spring pf, 106 105 106 27 19 7000 Ray Consol Copper ..... 22 22 21 93 68900 Reading 81 82 76 39 36 300 Reading 2d pf 33 88 38 105 68 9500 Remington Typewriter . 97 97 81 74 44 8400 Republic Motor Truck ., 62 - 62 49 145 71 421200 Republic Iron A Steel..., 122 123 106 106 100 600 Republic Iron & Steel pf. 105 105 105 21 34 8.70 185400IRoyal Dutch Co N Y. 104 92 17 13 SOOlSt Joseph Lead 14 14 14 27 10 14100 St Louis & San Franclscoi 18 19 16 37 22 200iSt Louis & San Fran pn 26 29 26 23 14 2200lSt Louis Southwestern . . 15 15 16 37 Ti 25 1600 St Louis Southwestern pf 23 29 27 34 53 2100lSavage Arms Corp 85 85 79 29 6 20200 Saxon Motor 20 21 13 12 7 3200 Seaboard Air Line .... 9 9 8 23 15 1600 Seaboard Air Line pf.. 17 18 16 226 168 900 sears-Roebu- Co 210 221 210 120 115 200 Sears-Roebuc- k Co pf... 117 118 117 19 10 2000 Shattuck Arizona Copper 13 13 12 69 33 576800 ISlnclalr Consol OH ... 57 68 60 S3 46 22400 Sloss-Sheffle- ld 8 & I 75 76 67 97 85 100 ld S & I pf.. 94 94 94 257 132 400 South Porto Rico Sugar.. 225 225 210 115 107 400 Sou Porto Rico Sugar pf. 115 115 115 115 92 432800, Southern Pacific 111 111 103 33 23 23800, Southern Railway 25 26 24 72 69 1900 Southern \Railway T)f.. . . . 62 63 34 85 100Standard Milling Co pf... 90 90 30 181 85 400 Stewart-Warn- er Speed 173 174 165 109 36 32000 Stromberg Carburetor 92 94 69 161 45 370200 Studebaker Corp 133 135 108 104 93 200 Studebaker Corp pf... 103 103 102 144 42 18200' Stutz Motor- - 124 124 103 54 32 9900 SuDerior Steel Com . . 44 46 40 105 S5 100 Superior Stsl Corp 1st pf 100 109 100 BROWN BROTHERS & CO. EaUbllahed 1S1 Philadelphia NEW YORK Investment Securities Foreign Exchange Deposit Accounts Commercial Credits ' Travelers' Credits BROWN, SHIPLEY & COMPANY KaUbiUheU U10 OClce Trivslfri Lothbur reorders Court. LONDON. K. O. \3 VM Mall. LONDON, i. t 1917. 163,038,603 Net JAtt. Chang\. 61' 3 85 4- - 4 41 33 1 8 36 69 8 87 5 60 2 65 U 93 1 57 1 6 18 1 24 35 1 135 1 114 62 7 104 4 25 1 73 1 7S 1 42 10 EIT.IB7Q 23 662 31 49 19 IS 1 1 ,T4 Proo f of 120 143 13 105 2 During the serious 85 19 31 1 last week, a list of 140 54 15 9 Industrial Preferred 110 77 9 2 average loss of only 5 percent. 45 . \ n 21 9 More reassuring proof 34 1 soundness of any class 46 \ rarely been given to 205 15 71 6 v There are two basic 100 193 12 stone-wa- ll stability of Stability market decline of fourteen standard Stocks showed an three-eight- hs of one of the essential of securities has investors. reasons for the Industrial Preferred Stocks: First, uch stocks are so fully and scientifically safeguarded by large assets, liberal earnings strong protective provisions as to practically eliminate spec- ulative influences. Second, the yield of Industrial Pre- ferred Stocks is so large that such se- curities almost immediately disappear into strong boxes as permanent investments, are not subject to market fluctuations. Dbminick & Dominick offer to clients a selected list of standard Industrial Preferred Stocks which in most cases constitute first claims on quick assets several times greater than the stock issues, which are exempt from normal Federal Income Tax which produce , a yield commensurate with living costs. Details can be presented by mail or interview. DomMckDoiniiiidk. Members N.YStockExchange 115 Broadway Phone Rector, 2020 114 114 -- 7a 73 2 64 54 'z 34 2 70 29 1 43 2 43 69 's 32 6 34 123 4 107 1 206 110 26. 62 62 18 H 86 99 13 19 1 30 1 43 1 62 2 70 46 '5 36 71 38 'i 120 7 115 81 \4 103 13 77 3 101 1 S4 4 108 1 6 17 47 120 15 74 30 1 40 9 50 4 60 3 34 19 14 102 1 67 1 66 2 87 2 69 9 U'e make a specially r,J exchanging Bonds 61 ttoc ICS oj 60 9 1 N. Y. CITY BANKS and 10 TRUST COMPANIES Harris, 141 2 I'lne 38 CLINTON GILBERT 65 ? Wall St.. X. Y. T1. StS Itfrtor 76 62 '.a ' 37 1 , i 34 4 fft 8..e.. I 112 -1- 4 17 10 loovui i trim vuuwei a.iivnt.... Hoc I 1 1 345 188 10 ..in. UOUUI J tJAHM V.U . u.u 43 70 27 84500 Texas & Pacific 61H 35 6 25 13 500 Third Avenuo 15 41 115 72 260O Tobacco Products I 99 14 120 99 500 Tobacco Products pf .101 25 62 42 239500 Transcontinental OH 60 49 1 74 37 15100 Transue & Williams Stcelj 64 64 187 115 400 Underwood Typewriter 131 32 1 100 75 600 Union Basr 4 Paper. 83 70 -2- 1 45 36 46400 Union (ill 41 106 4 138 119 85200 Union Pacific 123 19 1 74 66 2700Unlon Pacific pf..... 67 103 37 17500!Unlted Alloy Steel . 52 70 Zoo 107 lOOlUnlted Cigar Stores 199 62 1 175 90' 2300 United Drue Co .... 148 93 1 55 50 3! 400 United Drufr Co l3t pf.. 52! 94 215 157 10 11600Unlted Fruit Co '202 33 1 15 7 lOOlUnlted P.v Investment ..10 78 34 15 25 -- H 119 30 .'30430o!Unlted Retail Stores 1111 101 f t .33 14 3900 U S Cast Iron P & Fdry. 27 102 2 74 42 800'U S Cast Ir Pipe & Fd pf 61 124 91 49 36700 U 8 Food Prod Corp 84 81 5 167 97 107300 U S Industrial Alcohol 111 98 3 49 34 5500 U S Indus Alcohol rts... 40 105 2 50 17 1500 U S Realty A Imp 43 22 139 73 227800 U S Rubber 132 81 119 38 77 88 10 60 53 3 115 110 13 117 105 97 100?; 3 21 14 92 19 115 29 \ 82 lO'S 13 29 82 4 23 lof for Investment Forbes Co. Street, Comer WUllaro NEW YOHK \ , Sit iQP'nWilx,,. 111' 27 109 800 U S Rubber 1st pf 114 43 6 26600 U S Smelting, R 4 M.... 73 45 3 1100 U 6 Smelting, RAM pf . 48 88 5 934900 U S Steel 107 112 7 3S0O U S Steel pf 115 65 6 18300! Utah Copper 80 1S00J Utah Securities Corp.... 12 57 4 6800 Va-Car- o ChemWal 77U 110 S 600 t hemlcal pr..... 54 6 2100 Vn Trnn Pnnl fnlfw. - - 7 440O'Wnba?h 9 27 10400IWabash pf A 19 300Wabash pf B '. 21 17 2 79 63 600'Wclls Fargo Express ... 9 9 10700Wcstern Maryland 12 18 1 30 20 200)Wostern Maryland 2d pf . 20 321 1 26 17 1400 W'cstern Pacific 24 118 1 61 62 2000 Western Pacific pf. 65 12 92 S3 800 Western Union Tel 86 63 4 126 94 2S00!WcstlnghouKO Air Brake, 122 70 6' 59 40 41800lWcstInghouse E & il.t.. 56 94 70 61 1001 Westing E & 1st pf..., 65 226 21 18 7 49700 Wheellnsr Tkn V.rr . . 15 116 u 23 17 lCOOtwiieellnsr & take Erie pf 23 108 -- 2 86 45 6710U WIlltR Mnffif 74 26 1 va 23 l'106300!Wlllys-Over:an- d .. . . 3.1 63 9S 87 7 700.;Wlllys-Overlan- d pf 32 90 2 104' 65 R 7600 Wilson A C S3 155 26 104l 95 lOOIWllson & Co pf 93 77 16 136!120 8 'OOjWoolworth, F W, ex dlv.jl25 117' 18 117 50 34600'Worthlngton Pump 101 93 S3 102! 110 14 81 66 6 44 - ? Odd lota. 100 lunless sales & 12 10 ir 326 :S6 305 52' 41 '54 16 15 16'; 99; S2 -- i:'j 101 99 H91! - - 4 62S, 51 3'. 59 63 N - 1H 181'18m Ul'i 6 90 88 90 i 41' 36 40 - 'h 127'120 1261 - 4 63 67 67s 52! 50 07a - n 199 199 I i- - 149 142 IH - 6 52 52 i: 1 202 185 10 10 20 li 61 56 4 84i 74 .'9 :'i 116 106U l'1'i 45 36U 41 1 43 40 133 116 v.:h 114'll3 'Ui .6 . 71 43 I 45 4Si.s 107V103 10\ S6 24 12 M 114 4' n 80! 7SU \ 114llll 113\. V. 6S 10 31 21 B512! 56 51 53 H 13 11 4 20 20 25 23 IS 55 54 114 56 Vi 65 65 16 134 23\ U 74 604 33 30 92 9- -4 83 73 95 9. 12 7S . 1'. 96 .0 H i't li 126 101 200'Worthlngton Pump pf A. 96 i 96 OOOlWorthlngton nf B. 79 79 Boston and and and 113 1 i ! 12V 29! 1 122 l - Pumn NoteOdd lot transactions are not recorded In eel - were made at prices outside of tho rccular ful' lot razs: I . , X. - - - - -- i - - - . .. ' .M
