The Sun. (New York, NY) 1918-08-21 [p...
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Transcript of The Sun. (New York, NY) 1918-08-21 [p...
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
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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
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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
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8
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Railroad, Industrial, Foreign Government ftnd Other Bonds.
rorn
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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
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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
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coupvi
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tranaacUons yesterday:
53fth 93
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BID QUOTATIONS
63';
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103
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.
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.
Asked.llkluMkecl
93.8291.1093.82K..
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I'enSoATl
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CSl'AO
CCCStl.
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Can....CnnCau
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Sug.135CubASuar
Dcnftlta
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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.
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...04.18
04.18Lib 4's
12..43. .20..83. .
..03.98
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(Sales InCopper
10.. 10014..79
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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
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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
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price of in there ncro
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pf.131
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944
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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..
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831s ft W. ICS
94 Deere pf .. 9299Co
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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
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93.SS61.1093.8693.48
Bid.220MS
2189
19
9141311
244130.19t?7
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10750447
4
948397
72;101SI63
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160103
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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
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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.
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20..80..
..93.02
..03.08
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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
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3 71LANE HAN 1st
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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
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pf
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do pf igNcv Com., jo.MIOI.M 1 pf
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N Y 204
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NorfAW if. 71)North Am.. 39
pf.lwCoast . 43
do 1st(In ,! ... r.
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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,
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..06.48
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..08.6212 03.8010 08.632 93.60R 08.48
38 08.433.1.0.8.
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.08.44..08.48
..08.44
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1 08.4380 08.48
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IS 05.44
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N Y Cen 4Ms3 80?8
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of N J IS1 76I33 704 7834
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..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
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pf ... 100
116do .
do pf.
178
do
pf
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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