the sun. (new york, ny) 1918-08-21 [p...

Page 1

8

Short Term Securities

YOU can buy from us shortobligations of the

Pennsylvania Railroad toyield more than six per cent.

j Our current offerings includethe notes of several other lead-ing railroads, of some of our.foremost industrial corpora-tions, and of the strongestforeign governments. Theyields range up to well overseven per cent.

Send for Circular AD-11- 7

TheNationaldtyCompany

Certestonieni Offices in Jo CitltiBtnJt-Sho- rt Trrm.otn-Acrrflanc-n

CorrespondenceInvited

We intlte correspondence cn itoctmarket commitments and all

sulu.li. Frequent ana-lytical repor.s iiyjcJ and ma'lediratit. Special uetljij cotton let-

ter end (rain recietcs upon rejutil

E.W. Wagner & Co.Member i yew York Sxck Exchange.

33 New Street, New YcrkTel. nroad ISM.

Buy W. S. .. tte MostStable Seeuriw in the World.

IE STAR GAS

TEXAS PACIFIC COAL S IRON

J.K.Rice,Jr.&Co.IPhones 4000 to 4010 John. 38 Wall St., N. T

STANDARDWEEKLY

SUJLM.VllYON

STANDARD Oil,ISSUES

OL

willMAILED

TOINVESTORS

ON REQUEST

CARLH.PFORZHEIMER&CO.Thone 4S601-23-- nroad. SS Broad N. Y.

Adams Express 4s, 1947

Adams Express 4s, 1948

FREDERIC H. HATCH & GO.

riionp Iltftor C340. 74 Ilromdwaj-- . New YorkPrivate telephone to Tlotton.

Liggett & DrexelMembers Xew York Slock Kichanee

Conservative Investments61 Broadway New Ycrk

Boston Philadelphia Ilutfalo

TC'OR convenient method ofpurchasing Odd Lots of

Stocks, send for Booklet

foartsbotne jjycabtaUembere N. F. Block Etcno

7 WALL STREET T 4590 RECTOR

WANlED

FEDERAL FARM LOAN 5s

J.K.Rice,Jr.&Co.Phones 4000 to 4010 John. 35 Wall N Y.

lark A. Noble 'JheoJore O. Carwln

NOBLE & CORWINBroad St. New York

Guarantu Trust Eauilahle TrmiI Nat. Commerce Columbia Trust

Telephone 1111 nroad

KKPUIIL1CA AMOENT1NACludail tie Duenoa AiresOURAS HANITAHIA3 I)B LA NACION.Conatruccl6n de una fabrlca de acldo

aulftirlco.Ll&mase a Ilcltacl6n para la conatruc-cio- n

de una fabrica de Acldo auliurlco, daacuerdo con el pllego do condfclonea quelos intereaadoa podran conaultar en elConaulado General do la Republics Argen-tina en la cludad de Nueva Yoric. 17 liat-ter- y

Place, Itoom s:7, todoa los diaa hablleade 10 a I p. ni.

propuestaa deberAn presenters en laCecretarla del Dlreclorlo de laa Obraa Sanl-tarl-

de la Xaclfin, en la cludad delluenoa Alrea, Capital de la Repabllca Ar-gentina, antei dS Inn 3 y 4 p. m. del dta1 de Novlembre proximo, fecha y hora enque eeran ablertaa. en presencla de losIntereaadoa que concurrnn al acto.

U CEI.ASCO, Proaecretarlo.Buenos Alrea. 4 dn Junto de 1911.

aihikntim: icki-iiiii.i-

city ok iidenos aires,banitahy w'ukks op the nation.riant for .Manufacturing Kulphurle Acid.Offers are Invited for the conatructlon

ef a plant for manufacturing aulphurfoeld. In accordance with conditions

which may be consulted by Intereateapartlea. In the Consulate General of the.ArKenun iiepuuiic in me city or NewYork, 17 Hattery Dace. Itoom 127, onworking days from 10 till 4,

Offers- - must be preaented In the Officeef the Secretary of the Council of PublicWorks of the Natlob. In the City oflluenoa Alrea. before 3:10 P. St., on theIth day of November nut, on which day

hour they will be opened In the pre,nee of the interested partlee who may

wlah to attend on that occaalon.1. Cni.ASCO, Pro. Secretary,

Buenoa Aires. 4th June. 1118.

RAILROAD EARNINGS.

Colorado and fiotrniRiiN.Second week Auruat.... 3227,599 15,071January 1 to August 11, 7,447,769 1,013,709

CANADIAN NOI1T1IKIIVBecond week 1113,100 Inc.From July 1 C,4t3,300 Inc.

DlmiOIT AND MACKINAC.Tlrat week Auiruit. ... $27,063 Inc.January 1 to August 7 . (.3,135 Inc.

DKLAWARE AND HUDSON.Month of June

Trelsht revenue $2,350,429 Inc.Paasenfer retenue 239,301 Dec.Total operating revenue. 2,945,'ss3

Slalnt. nay and struct... til innMaint of multmient . 1,001,640j(t.uiiniriauon eipenaes, l.TCl.osiuna! vine. exinca7aieaDrflclt after Ulra ..Ntt OTtfTfltlnf .1aft.

I

Kroin Janii.rv t,. inn. v.

ttp-uc- s

TotalTales

ne

St.

EL.

St.,

Laa

the

and

Inc.Inc.

Inc.

Inc.Ine.

$72,300CI, 100

$39943,797

12,83ft2,8,072

269,672r.l4,fli2

Inc,m.iMi inc. la.tsi

S4...'f,& Inc. 1 lit TJtl

W'AQl Inc. 1,31I,K

Prelaht ruiniie Jll.OVI.OJO Inc.14.llS.WlVfH-nw-c revenue l,E.rj Dee. 7,3.UTotal olieratlnK revenue. l!V12r..5na tnr 1 in .n.Malnt. way and atrurt... l,li,MS Ine. jai4Transportationor ripens!'.

peralliiaT incomeoperalliir deficit

$267,701

3,I,M1 1,561.080

4.7M.1M. Inn 1 9J1 fto7,:,k!l Inc. 2,ot,o:o

14,CI7,M3 Ine 3,SO,23475,0. Inc. lOl.&StIt.ait 1)m 9 err sit

100.171 Inc. 1,M,X1BUUJIHVIM4TKIIN.rirat tek Auut .. ,. t431, Inc, ,131,000

FINANCIAL HEWS

AND COMMENTi

Absence of Selling Pressure' Accepted Reason for Mar-

ket Strength.

MONEY STILL STRINGENT

Canadian Pacific and General!Motors Chief Features in

tho Advance, -- -v

On a limited volume of business stocks'yesterday registered a tone of strengththat could be accounted (or only by" alack of selling: pressure. In most casesthe opening prices were the low for theday, and' net gains In the active listranged from a fraction to 24 points.Under present conditions holders seemto see no roaeon to let go of stocks. Ontho contrary there Is a constant yetsmall absorption for Investment, a de-

mand that makes for small but con- -

elstent advances In active Issues. Insuch a market the bears are loath toconduct fhe active operations that wouldprevail ordinarily In time of restrictedcredit and withdrawals of United Statesdeposits. The only effect of stringentmoney apparently has been to limit thetotal number of sales to 200,000 sharesIn round numbers. The pool In the faceof heavy Government withdrawals loanedmore than $15,00.0,000 on call yesterday,but,the. was nollncxeateJn rates. Theresolution adopted by the Clearing Housecommittee approving the credit restric-tions put In forco by the Federal ReserveHoard further strengthened the policy ofNew York banks to place Governmentand war needs ahead of everything else.As a result there was no supply of newtime money available yesterday and canmoney was doled out only to a minimumextent

The most encouraging feature In thenews developments Is the constant Im-

provement of the military situation, theAllies showing daily a firmer grasp ofthe Initiative and small but' strategicallyImportant successes. The tax uncertaintyIs becoming less Important, in view ofthe reliance upon a square deal from theSecretary of the Treasury, anithe rail-road rental contract Is spproacmng com-pletion. Nevertheless the market con-tinues dull, narrow and professional,with activity In Liberty bond Issues themost important feature. The 3Hs, at101.14, scored a new high record for alltime yesterday, and as the supply ofother tax exempt issues dwindles, the de-

mand for these tax exempt issues grows.General Motors, despite Its lack of 8tockExchange clearing house facilities, scoreda rise of 44 points and a net sain of2 points on short covering, and Cana-dian Pacific rose to 162W. compared to alow this year of 135. with a net gain of21 polntB for the day, on reports

buying from foreign sources.American Telephone gained 11 pointson the steps taken toward property uni-fication, but the generat advances in theactive list were confined to fractions.

Time money rates were nominal andcall money loaned throughout at 6 percent, on mixed collateral and 6H percent, on all Industrial. The feature ofthe foreign exchange market was theearly advance of 55 points In pesetaswith a net gain of 30 points, and weak-ness" In sterling and francs, with a de-cline of 1U centimes in the exchangeon Paris. Other neutrals were alsoeasier. Not. only was the news from ourown harvest country more favorablethan had been expected, but Broomhall'Breview of the European cro(f outlook In-dicated that England will have the blg- -sest grain crop in fifty years, and thatresults In France and Italy will be rela-tively favorable.

TRACTOR CO.'S NOTES TAKEN.

National City Company Is theBuyer.

The Nntlnnnl Pltv rnmnan. 1. ......chased 16,000,000 of Mollne Plough Company 7 per cent, serial notea maturingIn six annual instalment from Septem-ber 1. 1S19. to September 1 1824 In.elusive.

Proceeds from the sale will be used tofund bank loans which have been In-curred to Ufovlflff nritlittnnal wnptfln.oapltal made necessary by the Increasedcost or. materials anu tne greatly en-larged volume of business being done bytho company, which Is the largest manu-facturer of tractors in the world.

MONEY AND EXCHANGE.

CALL RATESSflxed Loans.

nifhLow tLaat 6

RenewalsYear" a hlrhYear's low t

LOANS.Loans.

Per cent.Sixty days....;... (itNinety days ttfFour months... . 69Klve months 6uSix months 60

PAPER.Indorsed Uillal

Iieceivaoie.Sixty daysNinety days 6

banks 4H 41;

4rV 4fIneligible banks

tVi

r.S7C66

K6

293

ion100

AllHigh euLow (ll

Renewala 4u

low ljAll Industrials.

64f((t

&ix toCOMMERCIAL

SixOther

sixt

! d- - .Bid. Aak- IJld. Bid. Aak.

Ellirll.le member

EHilb'e n o n- -

member banke.

bills

hirh

daysFour

W

'i 4U 4ii4,'.

4i hiCLEARING STATEMENT.

Clearinr exchaniea. 0CS' bal.ancea. M.57S.793 debit bal.ancea, I3.676,suj Pcderal credit bal.awe, lll,s,r,72.DOMESTIC EXCHANGE.

Host on. par: Chlcaio. par; St, to10c. bid: San Francisco, par; Mon.

IMOO premium; Cincinnati, par; Jlln.neapolla, 10c. premium,SILVER PRICES.

Bar silver In WKc.unchanged; butineaa price. Includinar

premium. ofl He; In London. 4JHd.unchanged; Mexican dollars, "Sc., up 1c.FOREIGN EXCHANGE,

Stfrllnr Low. Laat.Demand... 4.75V4 4.714

4.76C0 4.7664 4.7660

Demand...Cablea

rates

TIMEHired

Prime

of exch.4. Strrllnr6.14:6 Paris

ChinaHorurkongShanrhal

19 Greece42.1142.11 India-Calc- utta

6.1126 Italy48. SI

YokohamaM.T9 Scandinavia-Stockh- olm

CopenhagenCurittlanla,

19.29U SpainSouth America

33.40 Rio1.0304 Argentina

lluenoa Ayrea...S.1I26 Rtsltterland

Ruaalaruble

Induatriaja.

Year-- a

Year's

Per cent.Sixty daysMnety

months teaFive months

months

months eNamea

Three Inmonths

.,,??Aak.

IIOUREHouse 139(1,07

reserve

Louisdiscount

treal,

New York, (officialprice),

lOlVio..

lUfh.4.T5H

CablesFranc- e-

Normal

Holland

Japan

(sold)

rubles

6.07C.(6 5.M

Yesterday'sdemand

checks,4.7114

M.00

20.00M'.i

K.7J

311,ti.M11.1625.00

244MM411.

11.10

t 4iM e 4

'

.67

or

(.07

7.51

(4

.

4.06

12 40

TIME BILLS ON LONDON,

4!s

Prev.cloae.4.7SU4.7660

cloae

llH

Cablea,4.7C60

14.15120

20.06uy.

IS.717.60

MV.

il.3M.7011.46SAM

241i

4i4.04

11.7011.90

Bankeral Commercial.M 4.7114I60 dyW days 4.70.Q OW..... 4.J

20, 1918.

Day's Bales 190,774Year to date ., 8S,S0O,17

flirt. I As?17463H1

83 M889669M4SH92844118Va85H84Sl'Vl41 V4

78 H6878 U

074

109H109H108126

9BH16768U959517H656481

1P2KS44R4H8339H26

144H25H

16068 Vi84

67H48W1M25 H65 U76H67V41630472134H89436S80S80

109 i58153429

145160

814531448145966187

12528

102293118473321

162100

14115265720

10027529191

923555017.58

10319

1247342

10689653743

5831

4344385036663

100238992

10211318723634319

1507143

1021241017.'

8127

61111110

806110-

3814198143451937

1746

3

338397704798864118863455417867789674

11011010912695

16058969618 '

6582

1039554334026

14526

161683557487826- -66778516324723348943683080

11059153529

146162

814531

8

2

8

.4

48975187

12628

102303518483322

165101

15116265721

10127539292

9

2456601759

10320

125

Corp.

73l 5i42

10790663841t4j2Wr

C0 31

31

434539513670

S

102248992

10311318723644419

1517145

109124102

'8128

61111110

8151103815208243461938

12

71

II0'

2J

346

t

"I

73

41

ofoperating

operatingOperating

January 1

operatingNet operating rtvenve..Operating

operatingoperating

OperatingJanuary 1

rtet operatingOperating

operatingNet operatingOperating

January 1

Net operating revenue,,Operating

For twelveearnings..

Ntt earnings....

galea.

Sfonthrevenue.

Income

revenue.

Income

revenue.

Income

revenue.Income

Total revenue,

income

Income

months

1C00 Advance HumelyAdvance Humely pf

2100 Alaska Gold Mine100 Alaska Juneau Q M400 Mf?300 Mfp: pf...600 Am Agrl Chem400 Boot Sugar X

900 Can100 Can pf400 Am & Foundryip am i.ouon uu600POO

400

Am Tilde ft Leather...,Hide & Leather

300 Am International

8.16

600200800

LinseedLinseed Co

HOOiAm Smelt & rtef.200 A.

llOOIAmSugar

66 SugarSugar

2300Am Sumatra Tobacco...&

Tobacco 4.Woolen

Woolen pf70 Woolen pf

L ftAnaccndn CopperAssociated Co

300lAtch. ft Santa Fe pfju at, ci w IIE Da Id Locom Works.

&B

Rapid TransitlOOIDooth FisherieslOOlnurns

1100

34300

JuneTotal

revenue..

FromTotal

Totalrevenue,

From

revenue..

From

Oross

700

AmAmAm

Car

Am pf.ice.

3.60Am Co,Am pf.Am

Am Smelt SecSteel

200 Am liefAm Uef

100 Am Itof pf. ......3R00 Am Tel Tel

200 Am600 Am100 Am

'AmAm Zinc, Smelt

1100100

Topuuir

000 winOhio

Steel

Bros 1145

6300100100

2000

1100

200200300

19001000

216

3900100

100100

Am

400

200

400

Butte ft Superior CoppcrlCanadian Pncinc.Central" LeatherCcrro de Pasco Copper.ChesBpenke OhioChi. Mil & St PaulChi. Mil ft St raul pf...i.ni, it i & p.

400lChl. n I ft P 6 p c pf..cm, it i & l 7 p c pfChi, 81 P, M & Omaha.t.niio copper.

lOOlClev. C. C & 8t Louis.,..600jCol Fuel ft Iron100 Colorado ft Southern

Gas & Electric.Gas.

600

400

400

Corn Products TlcfCrucible SteelCuba CnnoCuba Cane Sugar pf. ...ueiaware ft Hudson....DIst Securities CorpKrleFed Mining- ft Smelt pf.Gaston W & Wlgmore.uen Klcctric Co.

3600lGen Motor Corp200 Gen Corp200 floodrich, B F750 Great Northern Ore ctfs.100 Greene Cananea Copper.200 Gulf States Steel100 Haskell ft Barker Car...100 Illinois Central

1600 Inspiration Con Copper. .

200Interhoro Con Corp pf...400jlnt Harvester of N J....

5400 Int Mer Marine22800llnt Mer Marine pf

NickelPaper

500 Kansas City Southern...100 Kelly Springfield Tire....200 Kennecott Copper100 Lee Rubber ft Tire100 Liggett ftMyers Tob....300 Liggett ft Myers Tob

6102 Lorlllard, P, Tob rights..ft Nashville...

200Maxwell Motor200lMaxwell 1st pf....lOOlMaxwoll 2d pf. ...

PetroleumlOOIMInml Copper

Steel ft Ord200 Minn. St P ft S S M75lMlnn, SIl'&SS H

Knn ft Tex pf..Pacific

200 Missouri Pacific pf.100 National Cloak ft Suit....600 National Conduit & Cable300 Natlonnl Load Co100 Natlonnl Lead pf100 Now Orleans.Tex ft Mex.800 New York Air Brake....900New York Central

7200400300100400

1700

4300

2000

1200

12002600

19002000

1500

16001000

New York. N H Hartft Western '107

Northern PacificNova Scotia S ft C.Ohio Cities Gas

uvjiiiiu Fuel Supply . .100 Ontario Mining200IOwens MachineEOOIPaciflc Mnil800 Pacific Mall rights ...600 It U....IDO'Pcoples Gan, Chicago .100100

400

3U0200

9009;

100600900300200

100

100100

200800300

, 300100200200

100100500500200

Net

Oil

operating 1,49,339

.

CoSugar

Motor pf

nf.

MotorMotor

Co

806

THE WEDNESDAY, 21, 1918.

NEW YORK STOCK EXCHANGE PRICES.Tuesday, August

rs

rs

Locomotive...

Foundries.....

400lHnU.lmore2600lncthlehem1200lllrooktyn

lOOIColtimbialOOIConsolldated

SOOIInternatlonnl1400Internntlonal

lOOlLoulsville

1900'Mexlcan

lSOOlMldvale

lOO'Mlssourl,ROO'Mlssourt

17

32

33

96

469385411986315541

66

72

95

6895

18656581

9465843925

26

68355748

2565

16

2134

43683080

68153429

8145314484

965137

28

293518483321

10116

6721

27539292

92355601768

19

7342

Norfolk

SilverBottle

Pennsylvania

90653743

9CO

32

4344

Plerpe Arrow Motor 38Pittsburg Coal of Pa....Pittsburg & West Va. ... 36Pressed Car 70Railway Steel Spring .... 62Railway Steel Spring pf. 101Ray Consol Copper 23Rending 90Republic Iron ft Steel. .. . 92Royal Dutch Co

Louis ft San Francisco 11Sinclair ft Ref 31Southern Pacific 87Southern Railway 23Southern Railway pf 63StuUebnkcT Corp ex dly.. 44ITenn Copper ft Chem.:. . 19Tcxbh Co 151Tobacco Products 71Twin City Rapid Transit. 4SUnderwood Typewriter ..105Union Pnclflc 1124United Cigar Stores 1102United Ry Investment. ...I 8U 8 Industrial Alcohol. .. 1128U 8 Rubber I 61U S Steel niU S Steel pfUtah Copper 80Va-Cn- Chwnlcal 51Wabash 10'Wabash pf A 38Western Maryland 14Western Pacific 19Western Union Tel 81

E ft M. . . . 43White Motor 45Willys-Overlan- d 19Wisconsin Central 36

616,200

Odd lots. Odd transactions are rocorded separatounless sales were made prices outside the regular full range.

PUBLIC tTTILm EARNINGS.

IOWA TELEPHONE,

SK0.2S9 Ine.16,114 Dec.63.338 Dec.

2,144.573 Inc.614,367 Dec.607,880 Dec.

NORTHWESTERN TELEPHONE,Month of Jun- e-

VM.VA118.692 Inc.113,663

Total operating revenue. 3,216,160812,361703,500

NEBRASKA TELEPHONE.Month of Jun- e-

$247,74171,52062,923 Dec.

Total revenue,

Steel

Inc.457,173314,615

MISCELLANEOUS EARNINGS.

PACIFIC COAST COMPANY,Month of Jnne

Groai earnlnga 3239,266 Dec.Net earnlnga , 73,160 Dee,

.. E.I16.'00 Deo......... I J,N( IOO,

S23.62S1.837

13,616

126.96719,63.162

319L46322,06713,380

1IL34S132,066

83,333

310,663

190

70.4086,346

20,174

(98,7924,264

44.004

.A

SUN, AUGyST

46

83

69

78

7890

110109109126

167

95

159

7670

3246

110

146157

46

126

165

103

123

50

103St

Oil

no

Westlnghouse

Am Chicle.. 31Am Oh pf.. 60Am SI a F, 73Am V. 96Am T V pf 80A D T N J. 63

P C. 3Broa

'4V 1 p 80Broa

4 2 p 70Uor C Milk. 90Bor C M pf 94Bush T nf..Celluloid ...144

63Chllda pf..Col Graph.Col Or pf..Crk W nf..

7914

89l

Type

AtlaaBarnh

SpinDamn

Spin

Chtlda Co...96636398

D L & W Co.163Gray in t.. 4

Bid.Am Drass ,,.326A 4k 11 Mfg.. 3A BMfg 20Atlas Paw. ...173Atlas Pow pf 67

Dab ft WI1.. 110Bile. E W...375Bltaa. E W pf 60Can F A F...180Carb Steel ...118flarb Stl 1 pf 93Carb Stl 2 Pi TO

Colta Arms... 62

if P new.796

117.

120.291400

lllsheat.1746

32

3388966947

3864119863455417867789074

110109.10912797

15768959618666581

1039555843925

14526

1626835574979256576701C

324721348943683080

11059153529

146162

814531448446966137

12628

103303518483321

105101'101

16114!ll4'll4

' 266721

10127539292

92466601769

10319

7342

90653744

96032

O

43443S60367063

101249092

113187236344

1517243

105125

8

61111110

8051103814198143481937

Aak,3306

3986

6633

60969793

16067

986667

103170

6

Ask.238

31

17'89'

1121

400'76

195120987313

JI05

1746

I338396694693864119853465417866789072

10910910912695

15768959518666581

1039454833926

14525

159683!i

57487823657670

3246213489436830R0

11058163429

146167

814531448346966137

12528

1022934184833

1 1 L

165

14

19

65721

10127539292

92.1

55601758

10319

1237342

89653743

96031

O

43443850366962

101238992

103-1-

318723634319

1507143

105124102

8127

1

111110

8051103514198143451936

1746

33

338396694793864119863455417866789074

1091091091Z695

16758959518656581

1039454833925

14525

16168355748782565787016324721

8943

- 683080

11068153529

146160

8145

'31448346966137

12628

102293418483321

10115

114265721

10127539292

92356601759

10319

7342

10789653744

96031

2'

443860386963

10124

9

92103

11318723634419

1607143

105124

8127

61111110

8061103814198143461937

1910.1,344.000

101,767,679

Note lot not Inat of lot

Net

Inc.

Inc.

Inc.Inc.Inc.

Inc.Inc.

Inc.Dec.

103

102

101

Bid.

pt

Du

126

107

103

102

128

107

nr.

165

126

43S1

102

MISCELLANEOUS STOCKS.

Hid.nock V TV. HiInt Silver pf 60

Llmo Loc pf 73Midi Lime.. 14Mlcti L nf.. 19

Nat Caaket . 94N J Z nw at. 15Oils Bier .. 43Otla Eler pf 74rnejpa it ,,770Pratt A W p 93Rem Type... 224Rein T 1 pf 90Rom T 3 pf 77Ry Bak Pdr.ltORy H P pf. 90Sal O H L 67Singer Mfg.. ICOW C Kerr... 61WC Ktrr pf 80

Yale T....200

STEEL AND ORDNANCE STOCKS.

Bid.Eastern Steel, uKmp S ft I.. 43

Emn S ft I nf 71Ulerc Pow ...233Mere ins pi. 107

pf. 2Nllee-B-- ....130NIlra.B-- pf,, 97

Penn R Steel.. 61

Rcorill Mia-.- .. 400Thomas Iron.. 26winch 11 a. .176Woodward Ir. 45

NetChange.

H

'

''

'

2

11

2

'

1

1

i

'

2

Vi

2

"i

l

3

2

1

Vi

1

1

1

1

1

"

"

1

1

1Mline

Aak.!

73Z

1721

99230

77K09129496

0180

91

601(2

66(3

21V

Aak.94M82

24610)

I6

129100(3

42635

750IS

GOSSIP OF WALL STREET.

Price Hold Firm.Thtre was tittle to distinguish yester-

day's mWrket session and traders con-fined their activity to a few Issues whichwere moderately responsive to their op-erations. The Marine Issues and thebonds ovT this company were strong andat times active, while the standardshares were firm with a rising tendency.The rails are still waiting on the deci-sion of the Director-Gener- al regardingthe rental contract and were quiet ex-cept for Canadian Pacific, which willnot be affected by the 'American controlact.

General Motors. ,General Motors responded to urgent

buying yesterday and reached a newhigh for the movement at 162, register-ing a net gain of 2 points on theday. The situation at present, as ex-plained by a financier close to tho Du-ra- nt

Interests, Is that the controllingpeople In General Motors are determinedto get rid of the shorts, and there Is lit-tle prospect that the premium will bo re-duced. Bears In this stock now areChiefly a few bl ones, well able to standany financial settlement they may becompelled to make, as the smaller shortshave practically all covered. Plans forthe consolidation of the various automo-bile companies with General Motors areprogressing and a special meeting ofstockholders has been called for August17, at Wilmington, Del., to vote on thoproposed Increase In the capital stock.W. C. Dunsnt. who returned Mondayfrom an Inspection trip to Detroit, spokeoptimistically to his financial associatesregarding the merger, which Is being ef-fected to take care of after the wartrade more than for any immediate

Great Ilrltnln'a Mnfarlnir Notes.Bankers are watching with Interest

the' approaching maturity of 3192,786,-09- 0United Kingdom of Great Britain

and Ireland 5 per cent, notes, whichare due September 1, and It Is under-stood in financial quarters that thenotes will be paid at maturity.

It was suggested that the UnitedStates Government might arrange acredit to cover the Issue, but this wasnot believed necessary and tho factthat bankers do not expect any ex-change difficulties Indicates that ar-rangements have already been per-fected to meet them. The notes arenow selling around 100.

, Unification of Telephone Cos.Plans of the Government to unite

all the country's telephone systems Intoone central organization were acceptedas favorable to American Telephoneand Telegraph Company, whose stockadvanced vigorously on hurried shortcovering. The declaration of the regu-lar quarterly dividend was also a fac-tor, but the unification of tho telephonecompanies was considered more impor-tant. One Instance which came tobankers' attention was that of a com-pany controlling several minor tele-phone concerns on the Pacific coast,which were purchased from the Ameri-can Telephone and Telegraph Companya few years ago under court decree.Now a representative Is In the East pre-pared to resell lo the American Tele-phone Interests the properties wfilbhthey disposed of under court direction.It was considered especially significantthat officers of the American TelephoneCompany were requested by the Post- -mojtter Henernl tn lnv..Hi,al. tl.A ln.l.pendent lines and to formulate a planof unification.

Canadian Pacific.Canadian Pacific continued its advance

on an increased volume of sale, and Inthose houiet which have been creditedwith buying for foreign interests it wassaid that orders are still being executed'for the same accounts. A fairly largesnort interest exist In tho ntock andsome buying was for bears who are sat-isfied that Canadian Pacific's present po-sition Is greatly changed from severalmonths ago. In addition it was men-tioned In some circles that the CanadianGovernment might acquire the railroadproperties of Canadian Pacific, whichwould necssltate the disposal of theroad's shipping and hotel holdings.

American Hide and Leather.In addition to the Interest of traders

In the forthcoming annual meeting ofthe American Hide and Leather Com-pany, when some important changes Inthe directorate are expected, the show-ing made by the company In the yearended June 30 last caused some com-ment. It was emphasized that the com-pany's net liquid assets were the largestin Its history, for In addition to the

of current assets, swhleh equal188 a share on the outstanding $12,500.-00- 0

preferred stock, another 350 pershare could be roallred easily from prop-erties figured at only one-fift- h of theirbook value. The 311,001.574 figure isafter deduction for bonded debt and In-

terests Identified with the company haveplans which call for expansion of theleather business, details of which maybe made known somo time after the annual meeting early next month. Another factor In the Hide and Leathersituation Is the 117 per cent, of accumu-lated dividends on tho preferred stock,which may be met sooner than Is commonly expected by outsiders.

I'nbllc L'tlllty nates.Financial needs of public utilities

throughout the country are receiving theattention of bankers, and the statisticscompiled of 100 principal cities tn thoUnited States with a population of 50,- -000 and more, showing that In forty- -six fare Increases have been grantedwere read with Interest. In forty-on- e

other cities applications for higher ratesaye pending, whllo In ten cities no re-quest has come from trnctlon corpora- -lions. In Iloston, Pittsburg, Cambridge,Mass., Wilmington, Del.; Tacoina, Wash.,and Somerville, Mass., Seven rent faresare now In effect, while six cent ratesprevail in at. Louis, Kansas City, Pert-lan- d,

Ore.: New Haven, Scranton. FallRiver, Lowell, Bridgeport, Hartford, NewBedford, Lynn, Lawrence, Waterbury,Manchester, WilKcs-Barr- o and Ilrockton.

Luxuries Less Popular.Luxuries are not as popular as before

this country entered the war, especiallythose which come from other countries,as a statement issued by the NationalCity Dank shows. Importation of lux-uries Into the United States In the fiscalyear 1918 shows a material decreasewhen compared with the preceding yearand a more marked decline comparedwith the year before the war. In artworks the value of the Imports In 1918Is but about $11,000,000. ngnlnst

in 1917 and $35,000,000 In thefiscal year of 1914. In automobiles thovalue of Imports this flsral yrnr wasonly $60,000. compared with $2,000,000In 1913, and more than $2,000,000 In1911. In food articles classed as lux-uries a decline Is also noted, cheese Im-

ported In the 1918 period being only9,000,000 pounds, compared with 15,000,-00- 0

pounds In 1917 and 61,000,000 In1914.

PARIS MARKET.

Paris, Aug. 20. Trading was activeon the bourse

Three per cent, rentes, 62 francs 70centimes for cash.

Kxchange on London, 26 francs 99centimes.

Flvo per cent, loan, 87 francs 75

Custom House Itecelpta,Reoelpts for duties at the Custom

House yesterday were $246,031,80, ofwhich $111,691,93 was for merchandisewithdrawn from bonded warehouses and$181,431.17 for recent Importations.

BONDS IN NEW YORK STOCK EXCHANGE.Tuesday, August'20, 1918.

DavV sales 87.361.000 $3,120,000Year to date 953,805,000 593,283,000

BONDS.

U. S. Liberty 8s (1932-47- ) 100.94U. S. Liberty 1st bonv. 4s (1932-47)- .. 94.10U. S. Liberty 2d 4s (1927-4- 2) 93.96U. 8. Liberty 4s (1928) 95.54U. S. Liberty 1st conv. 4s (1932-47- ) 94.16U. S. Liberty 2d conv. 4s (1927-42- ). 93.96 94.00

Tlfl 3H30.

3SO

8360..

147.3.

70

46fiA88 tO

R.1.6.

3.B.

10.31(1.

6.

United Stales Government Bonds Detailed Transaction.

Liberty100.04100.08100.04100.8S

.101.0010O.9R

.101.001'100.98 14S.

631 10I.0OL 101.13101.03101.04101.03101,00101.

74.

101.06..101.04..101.00..101.08..101.10.,101.04..101.03..101.0M..lot. in

30 101. OS31 101.0184 101.00

3. ...1101.O43 101.0(1

131 101.0833 101.10

Am Sec Ss

5

0

13

3

8

U6Llbrrty1at4s

U8I.lbertr2d4s

.03.081'

Railroad, Industrial, Foreign Government ftnd Other Bonds.

rorn

31..

IIIdeAL4 0734 extctfaptpd

077a Am TATcv 6s a..16 071 ctfefull Dil 4s

AngloFrench 3i I4 93T48 0414 AmTAT 3 4 -. ..113782 043fl 8714 Chi 41

041i Am Writing H 81 813s04V . ..88 IChin.tQlllHil

10. .

1..1..

11. .4..0. .

40. .5.

. .941

. .04s

. .941j

. .0438

.

. N

. .0411.niNi

04.10

93.86

ATASFgenti

04V BaltAO gold94N5V4s 73S;

23. 9878 Stl 19191

44.so.

it).

.04

Rap CM.09.087s

CltyofLyona Bkn Tr041a certificates

City .08Bush Bldg

041tParis Cal Oas

013

United Klnrdm6H1 HUnew

7l..aS. 091a

1919983s9814083.

,,,987-1- 8

9S1gons mi

1 OSU081s

Japanese 2d4

Va DA

NY Clty4la09434

NY City UJJ Copper

Govt.Lllierty 3HsI.lNrryLlliertyLiberty 4Vis...,LibertyLiberty

3s, registeredSs,Sa,S, registered, 1946

registered4s, coupon

Psnama,2s, Panama,

l'snsma, couponPanama, reglstrrd.

stocks which

Asked.Adams Ex W4Alb Sus.113

pi.AmllkNteAmllkN pfAmllH pfAm BkAmflkSAm pf.107

Tr

Co

2a.

Am CoiyOoiO

Am F.xn.Am 14Am Ice pf.Am Loc pfAm MaltAm pfAm Ship .113AmSmlt Pf.l4Am Snuff..AmSnuft pfASumTbAmTob pf.AmTelftCo.AmWP pf. 344AmZino pf. 44Dry Gda.ADG 1 pf.ADO PU40Asseta 111..

Top SF. S34AtUtr&A 84

CoastAOftWI pf. 634HatnptlaeBald pf. 101HaltftO pt. SS4lUrrctt ....narrett pf 100S

CkBethHe!h57BethS 6 p.iOii;HUnlhKlas.llrownSh.BrownS pfBrunswick.

P.BRftP pf..Burnall 112Bush Termlltuterlck.. iUutte Zinc. 11HCal Pack... 424Cal Pctm... UiCalPet pfCal Aria..Can SouCaeeCen 1'dy..Cen Fdy pf 424CIath pf.ITlS

rtANGK

1 101.08181 101.10

101.08101.10101.08101.10101.13

.

3.....1...

..101.00

..101.10

,101.13

101.101 101.13

44. ...

13.1..

18.2..

30..

136

Bonda.

rot!pm,

101.10

101.14101.08101.10

.

93.D3

..03.08

..04.00

..93.96..94.00

Am 6s

ICI1AQ0.17h

4

4KirtilAEaatlll

821aCMAStPcv

80-1- ChlMIIAStP 41BA06al95l 70A)

7to O M A4Ha

74FrencbRep 13 C 31 A P

6s 4H99 11

2.

087g,Bkn 7a A

99US.

951ansta

.0.1134s Kip 3s

. Aof Mar- -

tellies 6a 6s10 3 sola

ly of 61 A E 3s2

0Ha

yi

24

5. , . .

12

3 KS

As D

2

4s. .

tl'i

871aCen Oa

fnVermont873g

It.

8H48138

.81SII4

Cbes 44iTda

7iaChlAAlton Hi

3(U

.TJtjChi Alton

Chile1U5

S.

4s3d 4iregistered

2s, coupon

coupvi

2s, registered1918, regis

tranaacUons yesterday:

53fth 93

41(2

S..

C P

.m p 75.

H fttil97

3M 42

80SO

p 9)9't60

A 1147

At.

W

. 14L

93

. .

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9611

ft 7082

ft 66

80. 32

41

47

8.

3.

SO

3379

.

.

.

8.

180

101

BID QUOTATIONS

63';

Hi10.1

KK

1014

1024

103

OF

.

.

..04 00

.

Asked.llkluMkecl

93.8291.1093.82K..

1M'

60.

3...1...

Closing

I'enSoATl

Ch&Alt

CSl'AO

CCCStl.

t'lllettlColftSoColftSoCompTab..

Can....CnnCau

CrexCarpt.

Sug.135CubASuar

Dcnftlta

DSSftAElkllnrnFElkllF

Fisher

OenChmClears.

(IranbyOoodrlch

OlfMftN

llartman...pf.1074

DIVIDENDS.

Record.rroducts

Ilorden'a

3Iergenthaler Linotype

QuakerQuakerQuaker

Oypaum

DIVIDEND TABLE.

CopperOeneral ChemlcnlOxltvle pfLanston Mnnntypo Machine,,,,Standard MillingStandard Milling (stock)tttandard Milling

ThursdayInternational Mills....Internatlonul Cotton

Friday-Amer- ican

Refining..American Windowlluckeye

CupperCopper, extra..

(!ln.,CreacentOeneral

MillingMilling pf

Mahoning InvestmentNational LeadStandard

LIBERTY

(Sales In $1,000 lots.)07 04.00

03.0803.0004.0003.98

.03.9804.00

101...

61..

..93.94

..03.90

03.88

03.83

Lib let 4.411.

22.

1..

...04,10

...O4.0S

...04.10

...04.18

04.18Lib 4's

12..43. .20..83. .

..03.98

..04.00

..93.98

(Sales InCopper

10.. 10014..79

iolnt

943g 15 037glClt

BQ III

.9414

Armour '33 . x3 4s48 Is

1

1

. St 1' CT41

3 10fd

Beth10 8

deb

ouia

5.

ctfsAS

.90U

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Steel.

2.

1.

1941!

4s,

04.00

03.98

I ..I 2

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1

1

1

3a,

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04

1

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2n. .

C A O CT M 46

10 8163

10 812 ...1 .

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1

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3

2I1 40

10A 3i

3 St7

4

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1st 4s2d 4

2d

83

no

30

W

pf

913.1

43

SISO

173

9)

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91

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ro

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81

9383

304

2017

481

1

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1.

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5

0.1 31

1 33 8

20

503

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2

29

3s,

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1

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4

82 69

70

39

106

Ml

113

30

4s1 7oia

Cll RIAPref 4s88

7 OSIgCol So ext 4lfi

2 73U1.. 85...2 73U

Con Oas cv 610 00

Corn Prod 3i 1420 991a

A 41,12 7138

Den Rio 4i1 86H

Erie cv ser0 4Ua

Erie cv ser1 48U

Erie cv28 621a

Erie gen 4s.53U

OulfAShlpIal

Hud A Man ad1 19345 19?g52 197a

Ang. 20. Aug. 19.Itld,

101.OS 101.12 100.84 1CO.90

94.10 M.20 94.04 94.10

9S4

1064

43.'

93.86 93.8494.20 94.0403.86 93.8496.43 95.41

994S3

106H1064

S3

price of in there ncro

Bid.

pf.131

L.

At L.

Beech

nuffR

pf....

344,

944

914

124

ll".

S43i

.03.9(1

2d

48,

79

77

StP

87

Den

9i

Asked.of N J.193

102Cert Prod.. ..Chan Mot. 88

Chi A Alt.. 14pf. S,

Chi NW. arNv pf. .1241;Ot West. 74

V Ot W lit. 21

pf..l)Chlno Cop. 3Ts

nf. 62Clete it Pit. ..Cluctt Pby. W

pf S41 pt 4';2 pf

344Con Calan . 9

Con Coal . .

ConO of 11.

Con 71pf

Con Insur. 32

pf.. WiCnifetl nf..

S'i Cub A2 pf 90

831s ft W. ICS

94 Deere pf .. 9299Co

80

844

10483

11

10

42

6)

84

SS

S3

98

6a

11 0

A O

4s A

4s B

4a D

3s1.

91

98

83

Si91

63

C R

ft

C

U

03

9$

45

90

D L

uei luaDen ft H(i. 4

pf 64Del ft Mck ..Del United.Dome Mill. S'iDuISS ft A 3

Pf. 64. 2S4

pf. 40Klec St or 52Erie ftPitta ..Krle 1 pf 32Erie 2 pf. 224Fed M ft S 12

lkly 31Fisher Tl pf 94Oen Chem. 182

pf 994(ieu 494Con Cgi pt S3

Wpt 9n4

(It Nor pf. 92(iulfM 'ft M 9

pf 23

nitsst 1 Pf ..44

Hat N.IHarv Co.... 63

Stock of

Am. Coal Co., pf,IK Hept. 26

Am. Tel. ft Tel. Co.. q, 2 Sept. 20Cnnd. Milk Co. pf,

U, 14?e Kept. 1

Elk Horn Coal Corp.. 2 .Sept. 2Co..

241. Pept. 4

Oats Co., q, 3T... Oct. 1

Oats Co.. spl, 1ft.. Oct, 1

Oats Co., pf, q,It?, Nov. 15

U 8 Co., pf, q.H.9J Sept. 15

EXy

rtnnx

Flour Mills

pt

CottonMills pf..

Smelt, ft(Hues pf...

Pipo LineCerro de PascoCerro de Pasco

New O. ft Texaa l'uc pfPipe Line

Cigar pfLake of WoodsLake nf Woods ,,,,,,,,

pf.Oil ot New York

.93.08. .03.98

.93.90

03.00

03.84

18..

..01.14

.03.98

. .93.98

. .93.98

04.00

Chile

10

73

ser

10

70

20

q,

93.SS61.1093.8693.48

Bid.220MS

2189

19

9141311

244130.19t?7

MC3

10750447

4

948397

72;101SI63

10)91

160103

17597

1Wf.

;8388

4584

311

47

3:423413436H91

189101318;19481)4

100492,1243S

102432

n'.i64

Payable.

Oct. IBOct. 15

Sept. 15fept. 10

Sept 30Oct. 15Oct. 15

Nov. 30

Sept. 30

II. SO2

18.TV14ItHiiwr.11.001 n r14,V...3V'

. . 12.00tl .00

2Sc1V!

73c. .. 2".

241Sr13.00IJit.

1918. 1917.

High.101.14

94,1494.0095.6694.18

33, ,,,,.03.082 03.08

11 03.9617 03.984 94.007 93.94

13.30.25.8181,10,10.II.33.

1.33.

1.3.

1328.

177..181..

20..80..

..93.02

..03.08

..04.00

..93.08j. 04.00.93.9493.9093.98

...93.1

...03

...93.88

...93.88

...03.81.93.80

tl 8 Lib 3d 4

10. .

I..

40.

1.94

93.84...03.68...98.60...03.62...03.60...08.48...08.44

SO 08.4830 08.42

S1.000 lots.)Hud A rdg

3a Serlei A3 a

IndlanaSteel Ss2 04ia' Ciencon 4s

Interlioro -- Met!col trust 4 Hi1 . .80181 SOU

Interb R T refSs 1966

8 781a

101.00

registered

70la.NY Westch'ter70U A 4Hs

JJ.,.. 791a S3I n 11 Mariners NorthernPaa 4a

rfj30 09 81

99U OrSh L 4s0.

38. .5.

80. .25..15. .

5. .20.10. .45. .8.

19. .1..

4037. .

20.30. .

10 .

1

,

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991. .9914. UOIg

0914KCFtS A M 6

8 . . . lOOIgA M 7s

1 ... 1103s 1937

3 71LANE HAN 1st

1 lOHsMoK A Tex 4s

1 OIXtMo Pac gm 41

1 .... A7U25 871a

7 S;571s

Mont Pwr Si1 . .88

31 A O new 611 101

Br cv6s1 98

AND ASKEDI niH at,..,!I 1...

Home-lak- e. 72' Ar.. 1' Int Ag pi'.'. 604iiwt ton... ,ialutNk pf.. 9U

Int faitInt Pap pf. 90

do pi n.. uIowa Cen 3Jewel Tea.. 20

do pfK C Ft & pf 63KanCSo pf. 5jKaaar. ltd

uo 1st piKel Sp T pf SO

Kel Wheel.. 24UO pf 83

Keo Ac D M 3

uo pfKresse S a. H5

do pf 100Kress Co. . . fji

do pf 10JKing's Co E 87

Lat'Kde Use 82Lako E ft W 74

do pf 16aLack Steel. 83

Lorlllard. 114do pf.. ..101

Loose-Wlle- a .'4uo 1st pi. birf,. ''.I t.f r..

Lt'liUh Val 384.Munnnttan, 974.Man 4Man Sup

do Is, pf ..Mackay 74

do pt.. .. 644Math Alk.. 39iay up St. 6t

ii pf .. . 98Mex Pet pf !S4Mich Cen -M&StL new 10iMS!J1 pf...l(K

do L J.,.. 65Mo K ft T. 64Mor Ess. es.Moil Poner 63U

pf

Nat

..MiVHXa Il 1WK ft 3. 61

do pf igNcv Com., jo.MIOI.M 1 pf

do 2d pf..N V . 1. w

pi....

Hi13

lo lt pf. ..tin -- .4 ...

N Y 204

20',,. .jo. 10

NorfAW if. 71)North Am.. 39

pf.lwCoast . 43

do 1st(In ,! ... r.

Pac T ft t! 19do pf

Peoria & E. 44l'ero Mar ct 14

do p ct... 3S4do p ct. 64pf

Low.

94.1093.8295.4094.0893.84

S 98.4432 08.4819 06.60

8 08.62103 08.8088 03.83

0 08.8012.14.10..31..4..

23,.7,

,06.48..06.80

..06.48

.,96.80

..08.6212 03.8010 08.632 93.60R 08.48

38 08.433.1.0.8.

SO.87

.08.44..08.48

..08.44

..06.43

..03.4010 08.44

1 08.4380 08.48

6,.". ...06.82S 08.42

IS 05.44

N Y deb 61 St L con 4s041g

N Y Cen 4Ms3 80?8

NYA.... .8014

N Y N II A IIcv 6s

1...-T- .831a

A 80

1 Boston....98341 8034

fda-

Air

...

ll

V)

io.4

it

pf.

8

2

25

2

p

4 86I41 88! B1

2 solaPenna 4a 1943

1 . . .851.. s8...84laIxrlllard

...09-iR-l 110Corp

Liggett

Longlsl

NY

of N J IS1 76I33 704 7834

50 7BlaReading gm 41

2 82RepIAS 31 1940

4 . . 92lStl. A Iron M 3a

1 onaSt Fran

Series A4 sgij1 : .sosgs sola

RtL ARanFnnSeries B

4 73138tL A SaaFras

adl3 831 . . .Aglg

St LASan Franinc

12 8010 497g10 60

A'Warvfn

...

.

.

.

1

77

114Dl

tv;

:tIts)C240

34

3

64UuU'O

!72386

7

601U0

1C3w

10i90

84'..1(6lvS

1

!I439

lo:3

in1'7

75Hto44

631W

97

914114

10570

S73U70

lo ....ICIVs 1014NashC4StL.105

Acme., 21 32Ulscult 91 974

Nut

NYCAStL...'

OweiuBPac

Pan-A-m 91

Cen

61410J

IS6

1231765402361

i?a;71

41

11053

moM22490

6ll3161

..98.83

.,06.80

..08.48

NYTelgm4Wa

Atlnnlfl, IJoflMl., nnr Co.... 440Iluikrje Pipe Line Co. 84

('hraebrough Mfr Cona 320Colonial Oil 10Continental Oil Co.... 430Crescent Pip Line Co. fOCumberland P L Inc.. 1(0Eureka Line Co.. 1S5Oaleuo-Slifna- l O pf nw. 100Cilena-Stiriia- l Oil. , . 103Oatena-RIm- n t,f nl.t

81lg

86I4

.O0ia

pf ... 100

116do .

do pf.

178

do

pf

&

llpn Line .... ifolipe Line ...184124

York 190Pipe 100

,mu uu 313lVnn Mex Fuel

Oil Corpft Co . 61o

pipes Una. Co., 253Solar Co u.o

Co... 172Penn Oil Co ... 2to

S Pcnn PipeOil of asOil of Ind... cooOil of Kan. . 410OH of Ky... 330Oil of Neb.. IllStand Oil nf N J . SI2Oil of IS7Oil nf 390

Swan A Finch Co ..Tank Une Co .

Oil Co. . 325Oil

H o8 O old slk

Kxl

()

15,645,000634,964,000

Net

94.1493:84

94.18

8 93.4325 93.46

3 J. .6 03.431 98.486 98.401 93.43

141 03.401 98.41

43 06.4410 96.4316 98.40

110 98.446 08.42

511 98.443 96.40

10 03.48194 96.60116 98.83

93.8013 05.68

103 08.487 08.481 08.43

30 03.4010 08.4260 0S.4S

8 reg60

1 69SanAAAPassts

1 B5tg3 88I 631 4

L adj3 547g

Oil Ts

1 037a4 03

10.. .

10 ostacv la

8 OHaS 013g

ref 11

3 762 767g

By gm 4i1

3 63la11 6314

Texas Co cv is3 0914

1 34I3Tol St

1 47is

3 80TJnlonPacrefls

8 781 79laS 6s1 ... too

V 8 Is10 8OI4

1 8OI4D R Steel af ll

710.,4..

.6. ,

.081s. . .

. . . .OS'S

. . . .O8I315 98U10 .

Va Caro Ch taS 978 97U

Ss1. .

Va P S

5 78West Md

1 68

Bid.S3

io y,

90

N Y

93

S3

U 4s

A

3s

4s

V

4a

do pf.. . 93pf 96

pf. 77HPhlla Co... 264PtttFtWfcC. ..Pitt CI pf.. 814

Stl pf. 90Pond IS

pf 95Pub Serv. 90Pull Pal C.lllRep Stl pf.101Read 1st pf 37 -

do 2d nf . 37Rem ft Sir 102

Arms . 72Mot. C

Seab Air L. 74do pi 20

Sears 140do pf.... 116

691,do pf.. ..90

pf. 27St L S W.. 20

do pf.. ,. 32.. 154

SOl'0riO3UIM23do

Stun Mot.. 29UMill

pf 824nf 814

Sun Steel.. 41491

Texaa 15do Ij T ..160

Ave. 17',TiilewatrrOTob Iro pf 9

'TolStL&W.. 3do pf .... 11do ct f,

pf ct . ISft W 37";

TwnCtty 70pf.loS

II Has- - p. 70Un Pac pf. 704

Illinois90

Internal l'etroleimNational Truruilt

TransitNorthern Line...

Pierce 164I'ralrle Oil OasPrairie

RefinlnirSouthern I.South

W UntaStandard Cal.StandardStnndurdStandardKUndanl

StandardMandaul Ohio..

90

Wsehlnxton Co....enbsld "en bloc'UMO

ou".,1852dividend.

Chg.101.12

95.46

93.84

1916.

Last.

.96.44

08.40'

13

10634

Seabd

Sinclair

02341warrants

SouthPac

SouthPac

South

ThlrdAr

LAW

UnlonPaclflc

Rubber

Rubber

SS...O8I4

ValronCACS8...83

RyA

Alked.

Pierce--A

TAWTa

PittCreek

PrStiCar

SavSaxon

Hoeb.137

Slon-Shef- ..

StL&SF

Shattuclt

Stand

Studebk

Third

Trans

1'ndrwd

Indiana

I'niniiVacuum

unajMS pi. 102L'n Alloy... ssUn Drug-- ,. (a

do 1st pf. 48

do Sd pf . 761' S Exp..Hn Fntit. 123I'nllyln pf K4USCslrPipe 134

to . 41T4KSInAlc pf 91ITSHItvAIm nPSIl 1st pf.1044 10.'

S Smelt. 374uo tn .... ca.

Utah Sec 12C pf lot

V.l I C ft C 73Wab pf II. 234Wells Far.. 70Wesths I pf noIV Md 2 pf 1W Pac pf 591;Wh ft L U. S'i

do pf .... 1S4Wilson . f.74

do pf.. . ssWlllyaO pfWootunrth 110

do pf ....112Wort .,

do pf A., ado pf 11,. C9

Ex dividend.

STANDARD OIL ISSUES.

Aug. 20.Hid. Asked.it's 15V;

Co..Now

liie

"all

93047093

31040

44033

130196100103110153

9314

20)103316

2016

6202633101172ffl93

2176104 CO

3J0430317271

4101W

98

331

0.

1..

S5...08U

li;

4l;

Va-- C

62V1

him 624

1S4

Asked.

93044069

3:010

30140183

98l'O10O

15090

lSli

IPO10O313

26164

610232SO)1732.V.

'.0211OV)

4(0820(2.1

M71

390939(

32331

1330H67

4- - .02.02.02

SW

Nat

0.114

adj

08a

983

Pie

nf..

12

10098SO

27

163S3

99

209993

1121014

40

294

71

77

204

126609

21

21423

16133110

43120

S3

9642498

154200

19180974

818

i1342

IT.'.

10873?14

3203373601817

12116

181;ASH97

ICVi

U4(413

10473

24

71'iCIS3

61U.94194D9

95S34

113114

61

90

Aug. 19.Hid.

43

KO47093

3(040

4 k33

1M

19510311011015393

134154 134

--V)103117

.1016

620236jr.'l1772C0

93211

61040)23)CiO

622211410

!198

330

PLAN AMERICAN

SHIPPING COMBE

Liquidation of InternationalMercantile, Marino a Pro

paratory Stop.

SIX COMPANIES INVOLVE?7-

To Compoto With British anf,

German Interests Aftertho War.

Plans are, beln perfected for ttis for.matlon of arrAmertcan shipping eorport.tlon under the leadership of the Interns,tlonal Corporation Interests, It wtilearned yesterday. The new orris.Izatlon contemplates the amalgama-

tion of the International MercantileMarine Company, Atlantic. Gulf andWest Indies Steamship Lines, United

Fruit Company, Pacific Mall fitcamsti!Company and the New York Bhlpbulld.

lng Company, and will be powerfulenough to dominate the trans-Atlanti- c,

trans-Paclfl- o and South American ship,ping-- Industry. The American Intern,tlonal Corporation already owns controlof the Pacific Mall Company and thsNew York Shipbuilding Company nlIts holdings of International MerrantlltMarine and United Fruit are sufficientto make It Influential In those corpora,tlons.

Formal announcement of the newAmerican marine combine Is not ex-

pected until financial conditions m-aterially Improve but In quarters co-nversant 'with the details of the plan Itwas stated that the liquidation of thtInternational Mercantile Marine Corn-pa-

which Is now being considered by

the board of directors, Is the preliminarystep In the formation of the huge co-nsolidation. Tentatlvo plans call fcr acapitalization of at least $260,000,001for the corporation and It Is bellevctthat tho scheme .has the approval of t

United States Shipping Board, which

realises tho Importance of Americanrepresentation In over seas trade. A-nother reason for favoring such a co-mbination of shipping Interests is th

necessity of American cooperation In

meeting tho severe competition w hlch

will result from British and German I-nterests after the war.

Mercantile Marine to Liquidate,The International Mercantile Marins'i

purpose In dissolving the present corp-oration, which also Includes the sale "fIts British tonnage. 1b to have only

American steamships and American i-nterests represented In the new corrora-tlo-

and this will be accomplished by

the disposal of Its ships now under E-nglish control.

This will leave the Marine Comnary

with six steamships now under ttAmerican Line, the Atlantic TransportCompany of West Virginia, a charfrlrfconcern which holds stock in thed-American Stcamhlp Company, and

the jw York Shipbuilding Company,which Mercantile Marine Interests co-ntrol with the American InternationalCorporation, and W. R. Grace ft Co.

According to present Intentions thtliquidation of the Marine Comrany vQbe effected by retlrtng-th- e $39,061,001

bonds at 110, paying preferred stoc-kholders $160 per share, which would

meet the accumulated dividends on this

stock, and giving common stockholder!$10 per share. To accomplish this thtconsummation of the salo of its forelrnships Is necessary, from which approx-

imately $125,000,000 will be re.1l.1cd.Two matters of Importance In

with the plan to turn over thessshlpR to the British banking syndlcats,

which nre believed near a solution artthe payment of the money wlthou' e-xchange complications and the avoidanot

of an American tax. The former all! fc

effected by the British" syndics'? mjXirjpayment in gold at Ottawa and thus e-

scaping any difficulties of forcgn e-xchange rates, and the problem 0?

American tax will be met through : 'iu

dntlon. This would mean that nillviiua!

stockholders and bondholders won J t

subject to taxation, but it "u!l n'tafreet the company dircct'y.

nuylnsr Shipping Moots,For some time past the flnan.

haa been keenly watching ie t'Jv

lug of shipping securttts . the ;en

markot, nnd it was stated bv a "til.

nent flnancJer that In addri.m '"

tyoaslng Its holdliffts 111 IM'"'' ral

Mercantile Marine tho Arm-neat- .

nntlonal Corporation recenth l1''a one-ha- lf Interest in the .Nf 1 ,r'

Shipbuilding Compnny.The American Internatinnil '' rlJ

tlon. which was formed in ' ' f1915 by tho country's leailm-.- - an- -

and financiers to acquire proper et '"(every kind and description an 1 wher-

esoever situated. Including the ?

bonds and other evidences of It de

of any corporation, d"n.e,foreign." Is now engaged In--

, r,art

work for the United State J"im-.- 1Fleet Corporation. Its officer'- - '

rectors Include many preside! ts ' ' '

and representative of nlnictAmerican Industry

American lnternatioi..il lias .1 n (

ot $50,000,000, divided ir.to :y

preferred and t49.000.O0U ci.nvi 'International Mercantile Marii e - I"tallzatlon is over $100,000.00". .

$51,725,500 is preferred H'ot-l- i ..:

common stock The on- -' n

stock of thn United Fruit (' -

sregates $50,316,500; Atlai-t.- I'1West Indies, $13,742,900 prefern$14,963,100 common, anil 'iMall, $1,700,000 preferred nrd !'.common. There nro 2"o Ouo t' '

the New York Shipbuilding f rvalue.

IOWASecurities for Safety

Iowa Ffast Farm Mortgageand

Tax Free Municipal Bondsare unaffected by chanainit condl' -- 1

Parma and cities of Hie premier airricultural State if tho I'nlon nre ''ibantu of For tho ir'tvment of surplus funds or .ifif.theeo bonds combine absolute s.ie'of principal, dependable Income AU'i

ruidy marketabilityDenominations

Partial Payments if Desiredwhite yon riiEF.uooiil'nca 7nrtf menu .Vi). fit

Bankers Mortgage CompanyCapital .ooo.oou

Des Moines Iowa

LIBERTY BONDS

uitl.1 i

(1?

. f

4

nouoiiT roit i snSTOCK KXCHANl.H I'ltl !.!' J,

RIALTO TRADING CO.200 West 34th Stree'

t A, M. to I'. M, Sundj s I