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206 soma wil ir E- News of Financial World| BULLS COND ~ Ab in Heavy Trading During » Session. ' (Ry the Associated Press.) . New York, July 9.-Bull pools undisputed sway during the greater percent. 'The op creasing. convie ars Flu-mung [towards easement belicf that' industrial | and conditions are becoming more stable, News that | the had. accepted the digarm the. allies was another mental importance, by the strengt erate measure to British bills. views dwelt in detail * ward trend of Approximately use were, lower percent from the perk In addition to oils, specialties, independetn stools, and sugars, the day's trading again extreme gains of 1 to 0 points. amounted .to 800,000 shares. - offered keen in demand for new securities. ;Totul sales, par value wero $9,370, ton eall, others unchanged. 1961 E 43% 1 a dn 94! an 1700 Mis 11215 an 3G Butte Sup. ofr l 190 Butte Zinc b?‘ R 1%0 Caddo C. r gang 32077 d Wie Th «Fie 3 §§§§§E§§§§5§§§ Mek ta i eu. Bore -y» cul sar amfifiamafig , UGI - OPERATIONS ON TE MAKET Pools Hold Undisputed Sway timism of the professional ele mont seemed 'based largely on an, in- tion that credit conditions t; also the commercial German government ament terms of factorof sentl> This was evidenced | ° h of French and Bel \exchange which extended in more mod- Trade authorities,in their weekly re- 1 upon the down- stable commodity: pri 100 articles of common by slightly more than 7 of last February, motors and, their tobaccos braced rails of high and low degree at Sales Abwrfltlon of new government notes terest in the investment Liberty is sues: again were the ,only notable ex- . eeption to a generally firm bond mnréiésg. Old United States coupon Vs 1-2 percent ca } Sales. Figh.Low.Close. 200 Ajax Rub, ..i... 660 654 6 400 Alaska C. . Be Mo me 160 Alaska Jun 2 2 % 500 AL. Ch. alf. wn Su #1 S 85 984 M4 19% 10 / 10 15.0 4% ©50% held part of today's active market, their more con- [. fident maneuvers in selected issues being attended by the largest .and most com- prehensive dealings 'of: recent months, Many extensive gains were registered jn the early and intermediate periods but . these suffered material reductions in the \ final hour when call loan rose gradually from 7 percent, the opening rate, to 10 gian ices. em- 122 414 1400 Marine 38% 1600 Murine 8% . $%. 94 100 Max, Mot. 25% 20? 400 Max, 2M. ct. 18% - 19 18 t ee 300 M. M, c+ i 4: fifi 96 96 2 82 2000 160% k 6% 1200 M. E. a 9% NZ 2100 Mo. Pacific 26 \& 1900 Mo. Pac. pr. 42% - €4 CAM €00 Mont. WJ. ang 36h M4 1240 4000 42% 35 35 35 . 9: $% 9 1% TK T 4 J i w A 13 1% 1 to H 86 . 10, 101) 10 104 ©% 70 .80 ie df Rz iy s % th 18% % 23 33 23 91 80% 91 , Th 12% 56% 970% 15% 19% 104 21? 24 274 4500 . 1% 200 2 20 200 Owen B. M. PRE BL 500 Fac, Dev, Blg 41% 48 100 Pac, Mail 30% '.00% 30% 15800 Pan Am, 100% 107% 107% 400 Pan A. P. B . 201% 20. 300 Pa. Sea. Steel 20% I9) % 20% 2016 1% aie 200 Phila, TA 414. 30 2100 Philip; Pet. 4% 43A 43\s £800 Plerce Ar. .... A 8% . 54 200 Pierce 164 If 184 20 Plergo Oll a 804 86 2500 Pitts, Coal . 6h. (a ol 4000 Pltts, & W. Va. F 4) 31 100 Press, E. 10; 1004 10% 100 Press, S, C. 98 98 98 1600 P. A. Sugar 10% 16, 103 3200 Pullman . 117% N64 117 2100 Pure Oll 42 404 42 $00 Ray Cons, . 1 17% 200 Ry. St. Spr. 100 100 2200 Remington . TH W 1 » 600 Rep, Motor P 50 61 3400 Replogle St. $24. % 90% 4800 Rep, steel . 98 9615 96 $4200 Reading . 92% 81% 00 Read. 1 pr. «' 4° \u +200 Read: 2 pr. ... 440 dig d 3100 Royal D, N. 115. 1 118 400 Santo C, Suga 24 S4 -m 600 Savage A. . 61 0 61 200 Saxon Mot. ... 10% 10; 10% 200 Seaboard A. L... 0% _I Th §00 Seabourd A. L. 13 12 13 dh Sich a £9 \iz * Shell, T. 16 T 200 Sin. Con, O 32$6 $2 ix <25 . 34 shfes 16% lik 16% 8s 8% S% = # Si 30 Vivaudou B4 3° {f* 120 Wabash . Tho £40 BY $00 Wab, pr. A. 20 tik 2h ”soo“{atmghouse 50% 50 so 20 West A. B. 107% 1004 10% F 1660 10 10% 20 ® # & & & f 2 t B 100 White Mot. Bs S4 s 1200 Wickwire. . i # If X4 DR I% She © > ssh 1004 I0 I7 Th Tm H% Total sales of stock, $2,100 shares. . WALL STREET gossip AALL STREET, New York, July % Some of the proféssional eletieat in the market which still see fit to alter its position every time the call money tate moves up or down a bit sold stocks to take profits at the close yesterday. The motive was to escape interest for §{three days. Many of these traders will probably to purchase today. 'The general position of the market shows no change. Confidence iu early railroad relief is 3 - -| activity a few months ago in California 42% hase of a considerable amount by the quarterly dividend of 2 - is tres Pons tan ugust 31. . io gand n} Ph ais dividend of 74% Ipcmeut on the amass: 500 Suaval‘ernr. . 4 w 211,332; ll: “331° SWIFT“, ado stool; gi o t U a ol, oy u, 300 \ dy a m important mark i $00 T. Chem.alll 1°32 m” m\ opinion is eristalliziii tint“ iltmllflt $2 $300 Texas Co. 48% 47% 48 {railroads mre to be given a square deal my“? Pan 4% 4232 47% notwithstanding that the increased er 18 1-3? Pug $1132 gi Pits enues is to be derived from the hi fl?- 209 Prens C di TJ rates will have to be shared in part 5715; 32 23° the railroad workers. We anticipate portion of the list showed a disposition to proceed a bit more cautiously. While we confidently. expect fo see a consider- ably higher level before long it is quite reasonable to Took for a setback in those stocks which have risen very rapidly in the past 10.days. We would not add to holdings at the moment except in stocks which have lagged behind, such issues could easily be run up during a resting spell in other parts of the list. It is currently reported -that the special Packing Co. stock resulted from the pur- interests representing the new people who are expected 'to enter the management of the American Linseed Company. ; « Regular Willys-Overland dividend de- clared' yesterday. Understand that the stock is being accumulated around the 20 level. Many expect soon'to hear talk that the dividend will be doubled at the next meeting and this will serve ns a lever to put it.up somewhere near the 30. mark. Randolph buying paper today. Owing-to the fact that some of the big interests connected with the Chemical merger will be out of the city over the week-end, it-is possible that the details of the merger will be withheld until the first of the week. _ | + In connection with. strength of Na: tional common, 1t is reported that a bid of 90 was made for a big block gs, 13-3;ch Common slgck, it is mm]f will erger around par and preferre around 110. General (Elbemlcul Iolzommoxs according to same sources, will be taken in-above 200 and Barrett common at 175. No official statement as to prices at ‘filél‘gl‘x: variousltiasotgm will be merged, pro- a consolidation i c becsn‘ Writ-Oi is agreed upon, has inclair Oil is heavy and looks lo Looks like insiders' age}: comingsoaxttv er OEtlmlsm with regard to\ the stock market outlook wis entertained in bank- Jog quarters after the close yesterday and the manner which Steel common acted during the session was a matter of much favorable criticism. . The oil issues. were spoken of as likely to do Better. Rail road shares were in favor, particularly Reading and some were predicting a 20- polat rise in Southern-Railway: Marine ‘gfigcrgg wn; well Ixl-egarded and, favor- ment was he U canipmcx‘x’ts. , ard regarding the Argentina releases more gold to bunlm' 35h?! yUnified States, bringing total to Receiver Garrison of B. R. T; . an Brooklyn City R. R. Co,, to upffl 130355 glinzfls fares under ruling of éonrt of in E: ermany accepts , - plan calling for vo Allics' disarmament uction of her army to 10,000 b 5 I? October I and 100,000 by Chairmen of 16 railroads! me; i‘l‘ubcgculfgnJ‘ll'ly 19 to “101131101112“? PuiPag! r n‘ award. | Expected \ Treasury department to issue $200,- of Indebtedness 'ieates tongxrufirgflgt“ t and 5 . C a percent and 5% per- gent interest maturi March 15, 1021, re¥5§fi$§¥mfia and Twenty industrial up .47; 20 railroads Eastman Kodack Co. declared regular that so important an event in of the railroads will be disco\lsnthfdhi‘x:t fl yance by the atock market as usual and believe that the time to buy rails is now, before, not after that event lckunlly' takes place. In the case of the indus- trial stocks while a substantially higher level will no doubt be attained before the . Of the $20,000,000 new - stock offered for subscription to the stockhfildeggrz} the American Woolen Company which right expired at close of business on July 7 about 25,000 sazes were taken by the ixkholden it was announced this after- m The estimates of the sho made in the monthly report $3.5 3°. bsf Steel Corporation of unfilled orders to- morrow have been revised downward in well informed quarters whereas a week ago it was estimated that the corporation wonld report an increase of approximate- ly 250,000 _ tons the bookings as of June S0 Jast compared with the previous month. . It is now expected that the gain will be under 200,000 tons 'and may {mount to something around 150,000 ong. Associated Dry-Goods declared a divi- dend of 1 percent on comon stock pay- able August Ist. A similsr dividend was declared last quarter which was the in- itial declaration on this stock. Company also declared the regular quarterly divi- dend of 114 percent on first preferred ani 1 34 percent ou. second preferred pay- able September 1. New York Central May revenue increase . $3,000,920. deficit decrease $5,910,205, _ Demand 394% and $% Fraze S40 and 842; Lire 605 and 608; Matks 263. The Mullins Body i Operating ting both payable, Augast 1 and July in. _ e 2 Attorney General Palmer soos «ill stock dividend payments by. National banks It was raid at the offce of. th» controller of the currency today. That the entire sifeation has been paced be fore 273wa awm‘fwr s present upward movement definitely eul-| I minates, & technical | is| be likely soon before pri clably H al te prices go appreciably render a decision as to the lecality of| Ibe PINNAGLE PAST, Sales, should duplicate the recent performance 100 Goodrich br. . & - §§ |of Southern railroad. «- Igle-nhy ms i as R After many false starts the deal in e as aiff £ OP Hu H Linseed seems about to come! ~ . f ' . pr my ML Nt . . 2%0 G. N, Ore wh %, 1 off, A number of bankers accompany , : 400 Gualf \Steel . ra ea 21215 the officers of the company on their trip > | Qfiflgfikérn Jéu— fig!\ }* /to London to close up the operation. I C 4800 Hsk, & Bric 46% fn fom| Coppers and oils behave as though . hu s “a figm‘iflt'oh - lag fl I? may t“muléimdclmgch Instger.k 'good > a - « T, {;) International, Paper looks good. and |- - lgnflfip’éa‘ffiil i g‘ g»; many expect-fo see & substantial ad- Wanamaker - Declal‘es- Halt 100 Indlahorm 21% 57,5)» vance, wo . ff}; $3 Southern Railway earned 810 in May Called on Manufacturers #\ the common against a deficit same > Io Int. Al B., $ [ported last year of 7.97. by Campaign. A nt, eMt. a habe 20) Int. M f fig The buying of the good coppers con- Toy l ©. - £Q§$ Fifi? n* si tinsues, particularly in Inspiration, h 4 to- 200 Intor Con. \ tho $% 3% ame of the big uptown operators who < ~ 100 1212: C. pR 106 i}; 216 made a lot of money in Vanadium have FOOD PR'CES MAY RlsE #800 mvlncplble1 6 44-775 wig A been buying Reading during the past «> R L 35.1388 £53,“ \Bi. T4 15g, ‘1’1’1 guw dayfis. ti13:50:11,143 with important Bos Ls ~~ 4s 100 Jowel Tom . 134 X on confections have been 'buying United ~ ; g F gigs-4 03‘ch f; $5 {ii/9 Fruit lately.. They say that the com- Cotton Textiles Also Likely to n . 1, - i+ In: site iy |Dany's sugar profits are enormous | and , 5-388 fifilzy T. nl To \_ |that sooner or later stockholders willbe Go Up) Bug General Tone 1300 Cennecot .. 21% 24 |rewarded for their patience. L U wil'B Stead 133 fieqfitoga‘e? Tots While Stromberg and- other specula: Maid: e hit A \J E B, & iw. tive stocks like Houston Ofl, which did he 9% |not Nave a friend 20 points cheaper were . e © being bid up eagerly, the representative By WELT-ER B. BROWN l h Editor New York Commercial. Written for The Am: and the United New York, July 9.-In some of the speculative - dssues, . advances in today's stock market were quite sharp, while the general tome of the market reflected in- creased confidence on the part of the trading, public. ~ Operations are still lim: ited largely to professionals, but there are evidences of \an\ increasing general in-\ terest. - - , While: betting odds for the 'present fa- vor Harding, Wall Street 'does not ap- pear to, be as seriously «concerned over the outcome as it usually ds.. There Js more concern with ' the attempt to te- cover. our economic equilibrium, which it believes, can - be accomplished sncosis- fully, without 'undue disturbance uring the interval. > > - - The price cutting seems to have spent itself, and although - it ' cannot/be 'said that there is. any immediate yrospect of the return to the high levels from. which the decline started, it is unlikely that the decline will continue except in occasional instances, R . Tt is interesting to note the comment of Jolin Wanamaker who led the price cutting and continued it for'a period of bwo months, instead | of. two. weeks, as originally. contemplated,. He - asserts 'a halt. was- called on- manufacturers when his firm took; the definite stand thatit would not pay any advance in prices for new merchandise, ' He 'says they have spent more, mdney: for {new merchandise than has been taken over the counter for goods disposed of at- the reduced prices, Phe stocks' depleted 'by the sale have been replaced and are now as large as when the sale first opened. ~ The firm has been able to buy 'some goods at prices five, 10 and 15 percent below those prevailing two months ago, .. & While it may be true and probably is true that the. peal. of: high prices has been reached and passed the opinion pre- world is not in a > position for a rapid price decline.. We are carrying a burden of now government indebtedness of- ap- proximately $25,000,000,000 ' representing capital which should Have gone. into jour velopment work,' - . The advance in prices of the last year 'Fas not been due primarily to profiteer- imagine-that being an effect and 'not a causo-but that has been . due to the scarcity of=xgoods | and. services of. all kinds, While this: check upon high prices signify that the country has got back to a point where there Js a normal. relation- whip between supply: and demand, in prices of commodities, but there will also be some advances, particularly in food products and cotton textiles. | The probability is that we have reached the ond of runaway markets, and that what- ever advances do occur will have to show themselves to be fully Justified. * ---» +_ NEWs FoR_INvEsTORS. - American Linseed.\ Tt was learned from reliable sources to- day that 'megotintions have béen under .way for some time Ind are now at a point where it can be stated unofficially that of . American is about to pass to a foreign syndicate. 'Official confirmation of the report was unobtainable, President Adama sailed tOdai on a special trip abroad, the nature of which was not disclosed. 'There were quite a few houses In the street to which the story seemed quite plausible, but none was able to check up its authenticity. Tnterests usually close to the manage- ment of the company were reported to be buyers of the stock today. The Equipment Stocks, . 'The equipment stotks: contioue to be among the favored issues and the buying n. his_group continues to be the very st. Baldwin Locomotive, of course, is but American the leader of this group, Locomotive and Bash-lg & Barker are also giving a good account of themselves. American Locomotive always has been a laggard, but it is said that the present pool in the stock is much more aggres- sive than its predecessors and will keep pace with , the rest of the equipment group. - Haskell & Barker, it is said, grglnggy out]? raglan“!- Jts, earnings ¢ ing well above ivi quired for the year. the dividends re- I f Invincible Oil. nyincible Oil, while beingrone of latest of the oil compxniesxtmbc limits on. the Stock, Exchange has collected quite a following, both among traders and the outside public The company each month is showing a large Increase in eartings and is connected with the ming up: a new field in . Thie two com ire -a fog tations are being pushed. any day of the b g in of a n Tere where a subsidiary is mngpweu the hckefixmdmds on the preferred. and retirement, IRe preferred leads the same 3 F siva In view C2 pressare ® Is being adopted this - Ebeought tobear by Natioerl banks for an| yerr, Thre is cleating -The txtly it is belered that as et\ to 7 i he wonton will be rendered shortly. Ouigar : I, vails in high financial circles, that the| ! railroads 'and\ other construction and .de-|. ing, as many of our pseudo economists] is wholesome and desirable, it- does not | # 'Where may be some, further reductions | D '[a bi Standard Oil Company of Louisian® in Tés har * 000 acres in 111mm “Emma? 115i vincible officials expect to hear almost O00 barrels, while a new well is being ferfloved‘ with every fiafimuvf ma- present. catput. has caught up with its purchased in the open market last year orer $1,000,000 of the senior fesue for t ection of the 'dividends cammot - bo much. lon lured; ls , Skelly: OlL. Report. President W;~G. Skelly, of the. Skelly Oil Company, in a report to stockholders covering . the. aix «months' operation of the company to June:80, reports-an in- come for May, exclusive of-profits from refining, of $460,480, representing an: in- crease of 100 percent :in tho. last 'six months.- Whe report shows 74 wells dirlling» as against 84 in October, the ulsition. of, ~extensive. leaseholds in: the ewitt, Cushing, Duncan , and.. Osage fields in Oklahoma, the most- prominent mew oil pols recently: developed. in the mid:continent field. being included in this territory. 2. h Announcement is made of the purchase of of substantial interests in the Midland Refining-Company, Inland Oil Company and the acqusition of {reducing proper: ties embracing about 76, wells. in Gilla- homa and Texas, - ' {nC Directors have declared the rei auarlerly dividend of 2 percent; palable uly 81 to stockholders of record July 21. Chemical, Consolidation,\ the big chemical companies is.not \off But will be consummated -in very. mear future. - monk b New company will have capital of $350,000,000, and . the 'National Anilind will get stock new company sufficient to make present stock worth par. : It is understood that the aggregate carnings .of <the. companies | to. be em- bodied in the merger, Barreth 'National Aniline, ' General- Chemical - and Semet Solvay are now running at rite of $80.- 000,000 annually, of which National Ani- line contributes about- $12,000,000. _ 'The Coal Shares. = Much of the buying which appeared in such stocks as Reading, Pittsburgh and Lake Eric, Pittsburgh Coal and the like recently was predicated on statements rande . privately by several bankers: who have just returned from Europe, that whatever exportable surplus this coun- try has of both, bituminous 'and anthra- cite can be sold 'on the other side at the seller's figures, 'because it will be years before Europe's coal mines can get back to normal production. Then, again, there is the present scarcity in this country, with consumers tinable 'to make long: time contracts and. having to depend on hand-to-mouth- buying at figures which should - assure '. large. earnings for. the mines, With Reading and P. and W. V. the possibilities of \melons\ have In- fluenced to some extent. ' > Texas/mid Pacific. In quarters which a year ago wore quite active in Texas an T a again: nre discernible that this «tools. is under accumulation for the rise,. The company is doing well as & transporta- tion: enterprise but the bulge in it 1s > pected: to be' predicated .on some, favi able announcement concerning its oll pos: sibilities. . <> * >, Unto OIL pu 00 c > While 16 has been rather dissppoint- ing - marketwise for some months past following the break which cnrrled it of, about 18 points from the high of 45 1-8. last year, one who ought to know says this‘l‘lns hot been a 'rosult -of fallure 'to keep pace. with . the “passion 1:11“: (if): velopment . programme m the llnnhngegnent; on the other hand; it i - maturing a is stated that itsBe “lung “find in Ume conntgy‘.‘ expected - ho can await reau {grlgvoéeg‘god speculative poulblll a . Steel. - can be st that Steet c belintg Allé‘cumulnted for the pull, . The peo- ple-who. are doing this care little for the day-to-day fluctuations, and oven nutc- cession to- the 'low' of the last decline would not change the position: they page assumed.. 'The atock is ctting relatively ce in the street, tho- last three monfllm chowing an increase. of about 4, F stockholders of record, with public senti- mien again favorable to such dssues, | To. tepate for the annual stock offering to employes the oration roust buy close to. 175,000 shares before «January next The last offering was at $106 per share, -when it -was. considered cheap, Thore who buy Steel now ought to sto a subs stantial profit before the end 'of 1920. Southern Railway. . * All the railroad stocks were prominent in today's dealingg, but Southern Rail way common was the real leader of the low,- priced . properties. On heavy buy- ing\ this. stock crossed 2%, hig 15:3 forthe. year. | Southern Railway En been under pool accumulation _ for past with a view to exploit- etwise the possibilitics of this under the. new tunu‘mrution t, wh{ch to: follow the general trend,. but its it scems ropei 1)ch 53mm” of the cotton be region the 'rallrond traverse an important factor in add company's revenues. When th selling around 23 attention was called here to the , speculative possibilities of the stock, which, it is estimated, ought to earn $G'or $7 a share when rates are fixed to yield m 6 percent return an roperty fuvestment., So far this year gouthern Railway, carnifigs \have been running well akead of those for 1910. Mexican. Petroleum. a Activity in Mexican Petroleum an Pan Am?fl0lfl Petroleum is largely ac counted for by the fact that the Mexi- can company's first well since. the gov- eroment removed the ban on drilling sev- eral months mgo is within about tw weeks of completion, The well bas been cemented and tested to, a pressure of 1,100 pounds, and great things are, ex- ed of it. The company's new 10; nch line is expected to be comgleled about August 1, next. | By July 20 nest it is understood tht 100,000 barrels of oil a day will pass through Mexican Petro- Hum's present pipe line system. This is increase over what was regarded as the capacity of the line. The Equipment Shares. verything considered, the past six with? has ieen quite pmifitnlfle gar 1gin pment making companies, and when 2:11:13; for , the period are disclosed stockholders in the various concerns should have no cause to-complain; yet. in the opinion of a man at the head of one of the: companies, the second six months will be so much better that it will make one recall the earnings rep during the height of the war business. 'This estirinte is predicated on inquiries in already and- others expected to follow the decision of the Interstate Com- imission on the request for merce s , | higher freight rates. _ The railroads bad- 1s need equipment, and if no more a | third req \gem lace the roads in tion to handle lg: business. offe ordered goal: g“ vagina loemncu'rgty com- les, the Intter will enjoy capacity op- antler“ until well into 1921. _ Also, ther could clog their books with foreign Low-Priced Fails. - The low-priced rails bad beran to pick ”£35106” at ‘fiher itvmsxadfziven kg .m fo am was the peblication of whgpm'por“ fporied an ad- a dizest of the decision of the Inter- -| it nevertheless had its influent It is understood the consolidation of ' Pactle, signs | h | ofl equipment market, The prediction. was .made' that roads east of the Mississippl/and north of. the Oho. would get a 80 percent .In- crease, the western roads 24 percent and thore im the south 31 percent, the total amounting to slightly over $1,000,000,000 This-would allow 'only. for 'the present wage! conditions, | As the story went the new wage award would add $600,000, more a year to railway expenses. ~Then' \the proposition would be to increase pas- 'sengor rates etouglt to cover at of this. amount, trusting to the- greater effciency. of Jabor under. the new: wage tor make good: the rest, It was quite noticeable that, with the exception of the Bouthern Jhllwuz, An: which operations for the rise have been for a week or more very. fist-answer 'the low-priced rails hesitated .as they got.up to their high inflces‘ol June., This was true 'of Rock sland around 38 and St, Touts and San Francisco at 25. 8-4. 'The pool which took over from the Gould estate the big block .of St, Louis Southwestern common some time ago has now brought about an gtxiivcznce of five points from the pupchase ‘Stcwarbvi’lfi‘nr Specdbmetel'. For the threomonths ended March 81, 1020, the Btewart-Warher ~Bpeedometer Corporation shows net profits after de- icine aa ien dare woes ale / © oal the.\400.008 o & a shave carn h : common stock of shares \of outstanding no, par.value, 5. >. ~ ; *.: Names: Favorite Stocks. ~ © Tha' head -of ong of the big. Broad: way wire houses today sent out a special letter to the. firm's clientele throughout. the country in which he told of the stocks on which he is bullish, This man. feels that these stocks will lead In the \ex- pansion , which 4s: now upon us.\ .The stocks or groups of. stocks to. which: he refers more particularly are the oils, the motors, the sugars, the rubber issues, the food and. the equipments, - In- the oil hea he'ealls particular attention 'to the Mexican oils and.Mexas Company. He gays that.the business of these oil com- Pauleg is growing rapidly and the out: look -in-Mexico is the best that it, has been in' years, \L can hardly exaggerate the: grent atrides- which motor construc: tion will take in the next few years,\ he says.. \General Motors will lead in these developments, It is-in the bands of ver acute.. business .men. 'The rubber busi- mess 'goes hand 'in hand with motors. Sugar stotks- and 'all good food: stocks will be lerge.c¢arners for 'n long time to come. - business than they can. take care-of and at: profitable prices.\ most : ree - *>.\ © Crop News Favorable, .~, Crop mews has always played an im- peanut ypart in stock market movements an opinion of. a . Broadway stock exchange house, which' handles anvextensive com- modity business, .. As stated in the follow- ing market letter | advices . received by this house Andicate that the outlook for grain 'and \cotton (has changed. consider- ably for the better in the last two. months. \Our crop advices from the winter wheat, corn, onts and cotton districts 'are of 'm more. opthmistle sort and crops gencrally bave made much favorable progress since May when the outlook was rather gloomy, The changed outlook for the crops, quite naturally, fosters a more cheerful view of things because of the.favornble effects game should have om the general run. of business 'the economic situation; Old crop supplies, particularly of foodstuffs ate moving more freely than |in the recent past and, the release of cars at the many - congested points. should serve to- brimg about the liquidation and marketing .of commodities that have ted large seale'for somie time Houston Oil. - Houston Oil. was the most spectacular erformer, adding. 16. points. to, its :elos ing. price 'of yesterday. | A meteoric rise of this. sort does fot surprise thore who followed. the stock's career on the curb, and do accounted for, of course, by. the x | low capitalization . of the. company -there 250,000.shares of common out- The only other stock outstand= ing. Is: $9,703,000~ preferred.. Neither Houston nor its subsidiary companies have ony unlu- funded or mortgage in- debtedncss, | Besides owning about 703,- 228 acren of oil lands in Texi fann, the company has large uable yellow pine forests, the timber in which is estimated at 8,000,000,000 fect. Oif Supply Companies, |_, Owifif to. inability: to obtain. adequate material oll operators find their work re- stricted to m certain. extent despite the fact that “ch effort is being made by uses to keep up with the present rate of drilling. activity: in the inid-continent, The scarcity of oll well tubing, which was ~mecentusted by. the closing down of the Youngstown, Ohlo, steel mills during the stecl strike, con- being only standing. upon: the The equipments: will have more | P this year will be no exception in the' -~ ioo - LIBERTY io BONDS l, $85 to $95 A&. Sorp on ) INSTALL 'Y ments lle'clilexg; Trask 814C“ Inc. EYCK BLDG., Nox: ALBANY, .. _ BANKS. -~: Mechanics and Farmers' Bank | state con.samss. Capital, $250,000. - Surplus, Youngstown, the . Youngstown of.oil well tubing. ' The latter: compan markets its productthrough the Nair Instr an fields... The Lucey Manufactu Tipment, Chattancoga, Tenn,, 'and Houston, Thisis at a comparatively Short dis duce more than oil production of the country.. Th tinues, © Tt is- explained that fnost of the tubing used in drilling oil wells is manu- factured in.- mills :in the wiclxélfiy, ‘oé eet. Tubs. Company. and \the 'National Tube Oomfinny being. the largest manufacturers M onal Supply Company, and. the mational com- ° anies. are controlled : by the United - States Steo! Corporation, 'The Oil Well: 'Bupply Company,. a large manufacturer and '. distributer of ofl equipment, has plants at Oil. City and Pittsburgh amallor: plants - near theriminclpal ng Com- . a $1,000,007 .> any, one; of the largest\ manufacturers ~ 'and, distributers . of oil 'well - drilling has its 'principal-plants at Tox. tance. , from the mid:continent, Gulf coast and central -West fields, which together [pro: 6D percent 'of the. total Lucey company also handles a large for-\ eign: business. ° © $5005 General MotoriHOo‘rm‘rl‘tlm-i. ' .The General Motors Corporations' re- A4 ort -for (the ' quarter ended: March 31, , Federal taxe dividends: of last, shows surplus after depreciation, debentures and preferred ' 18,500,188. ' After all ex- penses,sqrdinary: taxes, maintenance, da~ [preciation, etc., met profits -for the quar- ter amounted to $28,081,166. Saul w. v..BOND] qurA‘ngNifi ' TU. S. 25, registere co U. 8. Al'hiregatqie'd U+ B. 48, coupon American Tel. a Chic l City of, Paris 64 Dame into: of Canada, General Electric be Great Northern Ist ' Int. Mer, Marine 6, Loulsyllle and Nashville un. 4.. and Texas dots Norther P. Northern: Pacific' 3s U Southern Railway be Southern Railway gen. 68 Union Pacific & ... Piki Set Union Pldflg Ad TB United Stater Stee . 9 Missourl Pacific gen, v0 ike St, L, 8. F. rdor len 4s, sories As, 66 8, Lous, 8. 18. add, J, 65. PS Bt. mum/m ,- inc. da... 47 - FINANCIAL enne ener ve ei ne encore eeg Prev tee ven ane ove nre sra ae # - + v - + x | § B 8 § ~ July 1, 1920 _‘ Dep‘ositslmade on or bile; July ~ 13th, 1920, will draw interest from - - - July 1, 1920 .. : Depositors desiring to purchase Liberty Bonds at the present mar- _ Ket price will be assisted in doing _ so on the most liberal terms. - . . Le . ~ Albany Trust Company - Main: Office---Breadway, Corner State Street _ South End Branch---Ro. 145 South Peat! Street # {19 B I u t , : An other i yesterday others. thi ness on- t was made the propri of the: mart representh soliciting Jivering b direct . viol %.(The, Jay that it ah ' products An: ordin prohibits: chan . or -of Pagan b ng.among > that the iw a, perfect: pristor . at took a hat 'market. Non ~? Another to, the all sters rand tabout. 'the from farm where .the tion .with; to 'the. iri identify, t farmers. - Althoug * tain custs out 'or en the marke atleast - \Just at th farmers.\ to point ~ could 'cert 'but Ifdon One of «view besid cars, and c &. passage of «ers to hay \their. vehl cate- those who 'were 'The zule, with-and: .. 86 «modities v \Bupplies 1 115): Sale was about While “at: . TRY D gon avert cooking. and all ki x 'wH Aal titlen of 'n
