THE FINANCIAL SITUATION
War-to-Peace Plans Are Taking Shape
Constructive features came strongly into the foreground of factors affecting the financial and securities' situation last week, the significance of which may be some time in developing fully. In respect of sentimental influence the most important single item affecting stocks and bonds was the great outburst of relief expressed by the American people over the approaching end of the war. True, the exuberance of Thursday was built on sand instead of rock, but underneath the foundation was none the less secure. The report of the actual ending of hostilities and of Germany's surrender proved erroneous, but the vast majority of the public realized that it could have been labeled premature as well as false, for it was clear to all as the week drew to a close that the end was near at hand. The armistice terms were not yet known, but the defeat of the German armies in the west forecast the quick dissipation of Germany's ambitions. At the same time disorders within the German Empire supplied another signboard for anticipating future occurrences. It was a memorable week in an international sense, and contained the elements of memorable achievements at home. Not the least important of the latter was the outline presented by Bernard M. Baruch, head of the War Industries Board, of plans for converting industry gradually from a war to a peace basis, and a statement by Secretary of War Baker on Government contracts.
These Government officials who stand in positions of primary importance in respect to after-war activities, particularly the measures to be used to returning the armies to their former positions in the national life, answered a question that had promoted much anxious thought among bankers and business men. They pointed out that a vast amount of manufacturing in lines of materials used by the military forces much, perforce, be continued so long as the armies remain in Europe and in the home camps. In addition, it was shown that the need for a gradual alternation of industry is being carefully planned, with an eye to the continuation of labor's activities on a broad scale. The making of munitions is to be continued for some time after fighting ceases under the armistice, a measure which has a sound military basis as well as economic support. In other wars an armistice has always been followed by peace, yet the interval is not one in which the cessation of military preparations could safely be discontinued. Mr. Baker said that war contracts had not been canceled, a statement which tended to offset the many rumors heard during the week that substantial progress had already been made by the Government in this direction. Mr. Baruch asserted that the allocation of materials now reserved for war needs would be made among the private manufacturers for civilian consumption when the time arrives in a fashion which would tend to relieve a sudden contraction of operations in one line before the other could be built up. These were items for which the public had been waiting with concern ever since the end of the war came in sight. The problem of returning some 4,000,000 men to their places in industry and business is one which will require great care and foresight. It is one which will call for detailed plans and management, but the outlook was materially brightened last week through the evidence supplied from Washington that preliminary steps are being taken. Doubtless, the machinery will do considerable creaking before it begins to work smoothly; that is to be expected when unprecedented measures have to be applied to a situation containing so many complicated elements. No one may receive assurance that there will not be temporary depression in some departments of manufacturing and trade. It is possible that a period may come when labor cannot be fully employed, but the indications are that such an interval would be brief, to be eliminated as the best business and economic brains of the nation co-operated in a single purpose. The very fact that leaders of industry and of Government have been aroused to the seriousness of the problem is sufficient indication that it will be solved in satisfactory fashion.
The developments of the week which are outlined above appeared to be the more potent factors in the rise of securities. The celebration of Germany's downfall brought that day a powerful upward surge of prices, especially in the railroad stock and bond list, but the after events indicated that more than a temporary flush of triumph had found reflection in the market. The decline of sentiment from a high pitch to a normal level did not bring about a decided reactionary movement on the following day; rather, quotations continued to display more strength than weakness. This was especially true of bonds, the week's net advance in forty representative issues being not far from 3 points. In stocks the uncertainty of the credit situation probably acted to restrain speculative activities even during the time when patriotic enthusiasm was more abundant, and in this respect it was probable that limited credit facilities for the security markets was a good things. The time has not yet arrived for the diversion of increased amounts of dunds to speculation. The Fourth Liberty Loan has still to be paid for in main part, and competent judges of the country's future needs connected with the war are positive that another large loan will be necessary before full attention can be applied to the extension of credit to private undertakings. The Federal Reserve Board emphasized in its November bulletin that the nation will have to conserve its resources in the way of savings and credits for some time after the war ends.
The rise of the Republican Party into the majority interest in both branches of Congress would have received more consideration than it did in financial circles had the election not been held at the moment when war news dominated everything else. Wall Street has always looked with more favor on a Republican than a Democratic majority in Congress, and because of this attitude the election was received with satisfaction. A tempering influence, however, was the knowledge that several months are yet to pass before the result of the voting is evident in Washington, and by the thought, also, that in the reconstruction period the need of the country and of Europe calls for shoulder to shoulder work, irrespective of party. The impending expansion of Republican influence has stimulated the thoughts of bankers and railroad managers in regard to the position of the carriers after the war. In quarters where before election the belief had become fairly well fixed that Government control would not be relinquished at the specified time there is now expectation that plans will be presented to the next Congress for the return of the roads to their owners. The subject is under discussion, the purpose in view being the completion of a comprehensive program for the task of unscrambling the present merger of railroad interests, physical and financial.
LIBERTY BOND TRANSFERS.
Treasury Department Also Gives Facts About Interest Dates.
Special to The New York Times.
WASHINGTON, Nov. 10.—Holders of Liberty Bonds are notified in a statement made today from the Treasury Department that interest on registered bonds is playable semi-annually on specified dates by means of checks drawn by the Secretary of the Treasury on the Treasurer of the United States, and also giving the interest payment dates.
The fact that bonds of the First Liberty Loan or bonds of the Second Liberty Loan are converted into bonds bearing a higher rate of interest does not affect the dates on which interest is payable. Such dates remain constant for the loan and are not affected by the act of conversion.
The following are the dates on which interest on the bonds of the several Liberty loans is payable:
On June 15 and Dec. 15, First Liberty Loan 3 1/2 per cent. bonds of 1932-1947; First Liberty Loan converted 4 per cent. bonds of 1933-1947; First Liberty Loan converted 4 1/4 per cent. bonds of 1932-1947; First Liberty Loan second converted 4 1/4 per cent. bonds of 1932-1947.
On May 15 and Nov. 15—Second Liberty Loan 4 per cent. bonds of 1927-1942; Second Liberty Loan converted 4 1/4 per cent. bonds of 1927-1942.
On March 15 and Sept. 15—Third Liberty Loan 4 1/4 per cent. bonds of 1928.
On April 15 and Oct. 15—Fourth Liberty Loan 4 1/4 per cent. bonds of 1933-1938.
In order to prepare for the payment of interest, the transfer books of registered bonds close one full month prior to the interest-payment date and reopen on the day following the respective interest payment dates. During any period when the transfer books for any particular loan are closed no transfers of registered bonds of such loan or interchanges of registered and coupon bonds of such loan will be permitted, but if requests for transfer of any such registered bonds or interchanges of any such registered and coupon bonds are received during any such closed period the requests will receive attention upon the reopening of the books.
As indicated above, the semi-annual interest will be paid to the person in whose name bonds are registered, as shown by the books of the Treasury Department on the date the books close, regardless of any disposition that may be made by the registered holder during the closed period. If coupon bonds are presented for exchange for registered bonds during such closed period, the coupon next due should be detached and collected in the usual manner. If registered bonds are presented for exchange for coupon bonds during such closed periods, interest on such registered bonds will be paid in the usual manner, and the coupon bonds delivered upon such exchange after the reopening of the books will have the coupon maturing on the interest day for which the books were closed and prior coupons detached.
The periods during which the transfer books of registered bonds of the respective Liberty Loans are closed follow:
First Liberty Loan, (including bonds issued upon conversion,) from close of business May 15 to opening of business June 16; from close of business Nov. 15 to opening of business Dec. 16.
Second Liberty Loan, (including bonds issues upon conversaion,) from close of business April 15 to opening of business May 16; from close of business Oct. 15 to opening of business Nov. 16.
Third Liberty Loan, from close of business Feb. 15 to opening of business March 16; from close of business Aug. 15 to opening of business Sept. 16.
Fourth Liberty Loan, from close of business March 15 to opening of business April 16; from close of business Sept. 15 to opening of business Oct. 1.
In case any date for the closing of the transfer books falls on a Sunday or legal holiday the books will be closed on the day preceding such date, and in case any date for the opening of the transfer books falls on a Sunday or legal holiday the books will be opened on the day following such date.
NEW YORK STOCK EXCHANGE
WEEK ENDED NOV. 9, 1918
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| Sales. | COMPANY. | High. | Low. | Last. | Net Ch'ge. |
|---|---|---|---|---|---|
| 50 | ACME Tea 1st pf | 82 | 82 | 82 | .. |
| 300 | Adams Express | 69 | 66 | 66 | -1 |
| 7,400 | Advance Rumely | 231⁄2 | 193⁄4 | 223⁄4 | +33⁄4 |
| 9,000 | Advance Rumely pf | 59 | 513⁄4 | 583⁄4 | +5 |
| 400 | Ajax Rubber | 661⁄4 | 66 | 66 | +4 |
| 37,700 | Alaska Gold Mines | 53⁄8 | 45⁄8 | 43⁄4 | +1⁄8 |
| 32,700 | Alaska Juneau | 27⁄8 | 23⁄8 | 21⁄2 | -1⁄8 |
| 7,200 | Allis-Chalmbers Mfg. | 285⁄8 | 261⁄2 | 281⁄2 | +11⁄2 |
| 1,100 | Allis-Chalm. Mrg. pf. | 961⁄2 | 80 | 83 | +3 |
| 2,200 | Am. Agricul. Chem | 1033⁄8 | 102 | 1021⁄4 | +1⁄4 |
| 200 | Am. Agricul. Chem pf. | 961⁄2 | 951⁄8 | 981⁄8 | +11⁄8 |
| 2,300 | Am. Beet Sugar | 637⁄8 | 585⁄8 | 637⁄8 | +43⁄8 |
| 36,400 | Am. Can | 48 | 451⁄2 | 473⁄4 | +13⁄8 |
| 1,500 | Am. Can pf. | 971⁄2 | 933⁄4 | 971⁄4 | +41⁄4 |
| 10,300 | Am. Car & Foundry | 86 | 843⁄4 | 86 | +11⁄8 |
| 400 | Am. Car & Foundry pf. | 111 | 1095⁄8 | 111 | +1 |
| 5,200 | Am. Cotton Oil | 437⁄8 | 413⁄4 | 431⁄2 | +15⁄8 |
| 100 | Am. Cotton Oil pf. | 85 | 85 | 85 | +2 |
| 300 | Am. Express | 951⁄2 | 95 | 951⁄2 | +41⁄2 |
| 2,700 | Am. Hide & Leather | 153⁄4 | 143⁄4 | 151⁄4 | -7⁄8 |
| 5,900 | Am. Hide & Leather pf. | 811⁄8 | 751⁄2 | 761⁄4 | -47⁄8 |
| 1,700 | Am. Ice | 46 | 44 | 44 | -13⁄4 |
| 700 | Am. Ice pf. | 56 | 541⁄2 | 56 | .. |
| 5,200 | Am. International | 583⁄4 | 571⁄2 | 571⁄2 | -1⁄4 |
| 4,800 | Am. Linseed | 411⁄8 | 401⁄2 | 41 | -1⁄4 |
| 500 | Am. Linseed pf. | 79 | 79 | 79 | -1⁄2 |
| 10,800 | Am. Locomotive | 675⁄8 | 64 | 671⁄4 | +23⁄4 |
| 200 | Am. Locomotive pf. | 1001⁄2 | 100 | 100 | .. |
| 700 | Am. Malting | 5 | 41⁄4 | 43⁄4 | +1 |
| 700 | Am. Malting 1st pf. | 421⁄4 | 42 | 42 | +3 |
| 81,650 | Am. Smelt. & Ref. | 941⁄4 | 871⁄8 | 923⁄4 | +53⁄4 |
| 630 | Am. Smelt. & Ref. pf. | 110 | 109 | 110 | +13⁄4 |
| 225 | Am. Snuff | 95 | 90 | 95 | .. |
| 10,200 | Am. Steel Foundries | 901⁄2 | 86 | 871⁄2 | -5⁄8 |
| 4,100 | Am. Sugar Refining | 1133⁄4 | 110 | 1133⁄8 | +31⁄4 |
| 100 | Am. Sugar Refining pf. | 1115⁄8 | 1115⁄8 | 1115⁄8 | -3⁄8 |
| 50,920 | Am. Sumatra Tobacco | 106 | 941⁄2 | 1021⁄4 | -37⁄8 |
| 200 | Am. Sumatra Tob. pf. | 85 | 84 | 85 | -1 |
| 100 | Am. Tel. & Cable | 55 | 55 | 55 | -1 |
| 8,715 | Am. Tel. & Tel. | 1091⁄8 | 1075⁄8 | 108 | .. |
| 300 | Am. Tobacco | 1943⁄4 | 189 | 1943⁄4 | +83⁄4 |
| 300 | Am. Tobacco pf., new | 98 | 963⁄4 | 98 | +1 |
| 2,200 | Am. Woolen | 511⁄2 | 501⁄8 | 511⁄2 | +1⁄4 |
| 650 | Am. Woolen pf. | 96 | 95 | 96 | +11⁄8 |
| 100 | Am. Writing Paper pf. | 321⁄8 | 321⁄8 | 321⁄8 | +1⁄8 |
| 1,400 | Am. Zinc, L. & S. | 15 | 143⁄4 | 143⁄4 | -1⁄4 |
| 100 | Am. Zinc, L. & S. pf. | 50 | 50 | 50 | -1⁄4 |
| 59,900 | Anaconda Copper | 733⁄4 | 701⁄8 | 727⁄8 | +31⁄8 |
| 200 | Assets Realization | 11⁄1/2 | 11⁄2 | 11⁄2 | .. |
| 800 | Associated Oil | 681⁄2 | 661⁄2 | 681⁄2 | -1⁄2 |
| 12,300 | Atch., Top. & S.F. | 981⁄8 | 931⁄2 | 973⁄4 | +5 |
| 2,200 | Atch., Top. & S.F. pf. | 901⁄2 | 851⁄2 | 90 | +5 |
| 300 | Atlanta, Birm. & At. | 81⁄2 | 8 | 81⁄2 | -1⁄2 |
| 600 | Atlantic Coast Line | 107 | 1023⁄4 | 106 | +4 |
| 15,600 | Atl., Gulf & W.I. | 1131⁄2 | 108 | 113 | +53⁄4 |
| 150 | Atl., Gulf & W.I. pf. | 643⁄4 | 643⁄4 | 643⁄4 | .. |
| 88,100 | BALDWIN LOCO. | 833⁄8 | 771⁄8 | 811⁄8 | +21⁄8 |
| 100 | Baldwin Loco. pf. | 1021⁄2 | 1021⁄2 | 1021⁄2 | .. |
| 25,800 | Baltimore & Ohio | 601⁄4 | 563⁄8 | 60 | +41⁄4 |
| 1,300 | Baltimore & Ohio pf. | 613⁄4 | 60 | 613⁄8 | +3⁄4 |
| 1,300 | Barrett Co. | 1041⁄2 | 1025⁄8 | 1041⁄2 | +21⁄2 |
| 6,200 | Batopilas Mining | 17⁄8 | 13⁄4 | 17⁄8 | .. |
| 3,500 | Bethlehem Steel | 651⁄8 | 603⁄4 | 621⁄4 | -21⁄8 |
| 117,400 | Beth. Steel, Class B | 643⁄4 | 601⁄2 | 621⁄8 | -15⁄8 |
| 4,250 | Beth. Steel 8 p.c. pf. | 1041⁄8 | 102 | 1041⁄8 | +21⁄8 |
| 1,600 | Booth Fisheries | 231⁄2 | 22 | 223⁄4 | +3⁄4 |
| 200 | Brown Shoe | 74 | 71 | 74 | +7 |
| 500 | Bruns. Term. & Ry. Sec. | 10 | 10 | 10 | .. |
| 1,300 | Burns Brothers | 1553⁄4 | 1521⁄2 | 154 | -1 |
| 2,500 | Butte Copper & Z. | 111⁄2 | 101⁄2 | 113⁄8 | +7⁄8 |
| 3,100 | Butte & Superior | 257⁄8 | 231⁄2 | 257⁄8 | +7⁄8 |
| 300 | Butterick Co. | 16 | 153⁄8 | 16 | +1⁄4 |
| 5,700 | CALIFORNIA PACK. | 481⁄4 | 44 | 48 | +43⁄8 |
| 5,000 | California Petroleum | 227⁄8 | 201⁄8 | 227⁄8 | +27⁄8 |
| 1,200 | California Petroleum pf. | 66 | 62 | 65 | +3 |
| 200 | Calumet & Arizona | 70 | 691⁄2 | 70 | +11⁄4 |
| 10,200 | Canadian Pacific | 172 | 166 | 170 | +5 |
| 200 | Central Foundry pf. | 34 | 33 | 33 | -1 |
| 9,900 | Central Leather Co. | 633⁄4 | 601⁄2 | 611⁄2 | -11⁄2 |
| 100 | Central Leather Co. pf. | 107 | 107 | 107 | +1 |
| 200 | Certain-Teed Prod. | 373⁄4 | 35 | 373⁄4 | +73⁄4 |
| 3,600 | Cerro de Pasco Copper | 383⁄8 | 361⁄2 | 383⁄8 | +13⁄8 |
| 5,100 | Chandler Motor | 1041⁄2 | 941⁄2 | 1041⁄2 | +10 |
| 23,900 | Chesapeake & Ohio | 613⁄4 | 59 | 613⁄4 | +31⁄4 |
| 200 | Chicago & Alton | 97⁄8 | 97⁄8 | 97⁄8 | .. |
| 8,900 | Chi. Great Western | 10 | 8 | 10 | +2 |
| 5,700 | Chi. Great Western pf. | 301⁄4 | 247⁄8 | 30 | +5 |
| 14,700 | Chi., Mil. & St. Paul | 523⁄4 | 501⁄8 | 523⁄4 | +23⁄4 |
| 9,300 | Chi., Mil. & St. P. pf. | 86 | 811⁄2 | 851⁄4 | +41⁄2 |
| 1,425 | Chi. & Northwestern | 107 | 1021⁄2 | 1063⁄8 | +43⁄8 |
| 800 | Chi. & Northwestern pf. | 1301⁄2 | 1291⁄2 | 130 | +1 |
| 53,100 | Chi., Rock Isl. & Pac. | 32 | 28 | 311⁄2 | +33⁄4 |
| 3,900 | Chi., R.I. & P. 7 p.c. pf. | 863⁄8 | 801⁄2 | 86 | +53⁄4 |
| 3,700 | Chi., R.I. & P. 6 p.c. pf. | 74 | 693⁄4 | 74 | +41⁄4 |
| 24,200 | Chile Copper | 235⁄8 | 221⁄4 | 231⁄4 | +11⁄4 |
| 8,100 | Chino Copper | 441⁄2 | 42 | 44 | +3 |
| 500 | Cleve., Cin., C. & St. L. | 40 | 38 | 40 | +2 |
| 1,800 | Colorado Fuel & Iron | 41 | 393⁄4 | 403⁄4 | +15⁄8 |
| 1,400 | Colorado Southern | 271⁄8 | 247⁄8 | 27 | +11⁄2 |
| 100 | Colorado South. 1st pf. | 55 | 55 | 55 | +11⁄2 |
| 200 | Colorado South. 2d pf. | 44 | 44 | 44 | .. |
| 4,100 | Columbia Gas & Electric | 41 | 39 | 401⁄4 | +11⁄4 |
| 200 | Computing Tab Record | 36 | 36 | 36 | -1⁄2 |
| 6,600 | Consolidated Gas | 1047⁄8 | 1011⁄8 | 1031⁄2 | +27⁄8 |
| 1,300 | Continental Can | 741⁄2 | 721⁄2 | 741⁄2 | +31⁄2 |
| 400 | Continental Insurance | 56 | 54 | 54 | -7⁄8 |
| 55,700 | Corn Products Refining | 497⁄8 | 471⁄4 | 477⁄8 | -13⁄8 |
| 1,000 | Corn Products Ref. pf. | 103 | 1021⁄2 | 1021⁄2 | +1⁄2 |
| 20,500 | Crucible Steel | 57 | 55 | 555⁄8 | .. |
| 500 | Crucible Steel pf. | 891⁄2 | 88 | 881⁄2 | -1 |
| 22,300 | Cuba Cane Sugar | 335⁄8 | 301⁄4 | 333⁄8 | +21⁄8 |
| 6,100 | Cuba Cane Sugar pf. | 811⁄2 | 793⁄4 | 81 | +1 |
| 300 | DEERE & CO. pf. | 96 | 96 | 96 | .. |
| 500 | Delaware & Hudson | 118 | 118 | 118 | +2 |
| 800 | Del., Lack. & West. | 182 | 180 | 182 | .. |
| 3,000 | Denver & Rio Grande pf. | 121⁄8 | 107⁄8 | 12 | +1 |
| 14,800 | Distillers' Securities | 51 | 471⁄4 | 481⁄2 | -1⁄8 |
| 15,100 | Dome Mines | 15 | 14 | 141⁄8 | -3⁄4 |
| 100 | Duluth S. S. & Atl. | 4 | 4 | 4 | +3⁄4 |
| 200 | Duluth S. S. & Atl. pf. | 8 | 5 | 8 | +1⁄2 |
| 900 | ELK HORN COAL | 301⁄4 | 29 | 301⁄4 | +21⁄4 |
| 43,800 | Erie | 211⁄4 | 171⁄2 | 21 | +37⁄8 |
| 18,300 | Erie 1st pf. | 365⁄8 | 33 | 353⁄4 | +31⁄4 |
| 1,300 | Erie 2d pf. | 261⁄4 | 24 | 26 | +25⁄8 |
| 100 | FED. MIN. & SMELT | 14 | 14 | 14 | +1 |
| 800 | Fed. Min. & Smelt. pf. | 421⁄8 | 403⁄4 | 41 | +7⁄8 |
| 100 | Fisher Body pf. | 921⁄2 | 921⁄8 | 921⁄8 | +1 |
| 7,000 | GASTON, W. & W. | 31 | 29 | 301⁄2 | +13⁄4 |
| 100 | General Chemical | 100 | 100 | 100 | .. |
| 900 | General Cigar | 45 | 441⁄8 | 441⁄8 | -7⁄8 |
| 2,263 | General Electric | 157 | 153 | 157 | +2 |
| 12,700 | General Motors | 1361⁄8 | 129 | 134 | +41⁄8 |
| 3,200 | General Motors pf. | 851⁄2 | 82 | 851⁄2 | +33⁄4 |
| 9,100 | Goodrich (B.F.) Co. | 597⁄8 | 561⁄2 | 591⁄2 | +31⁄2 |
| 900 | Goodrich pf. | 103 | 1011⁄2 | 103 | +11⁄4 |
| 200 | Granby Consol. | 82 | 81 | 82 | +1 |
| 29,100 | Great Northern pf. | 1041⁄4 | 941⁄2 | 1033⁄8 | +93⁄4 |
| 10,300 | Great Nor. cfs. for ore p. | 323⁄4 | 313⁄4 | 323⁄8 | +7⁄8 |
| 7,500 | Greene-Cananes Cop. | 581⁄4 | 55 | 551⁄4 | +23⁄4 |
| 200 | Gulf States Steel | 66 | 651⁄4 | 651⁄4 | -13⁄4 |
| 100 | Gulf, Mobile & Northern | 8 | 8 | 8 | .. |
| 400 | Gulf, Mobile & North. pf. | 341⁄8 | 331⁄2 | 341⁄8 | +1⁄8 |
| 2,800 | HASKELL & BARKER | 481⁄4 | 45 | 471⁄2 | +21⁄2 |
| 100 | Homestead Mining | 90 | 90 | 90 | +5 |
| 2,700 | ILLINOIS CENTRAL | 105 | 102 | 1043⁄4 | +3 |
| 21,200 | Inspiration Copper | 565⁄8 | 54 | 557⁄8 | +21⁄8 |
| 10,700 | Interborough Con. | 93⁄8 | 8 | 9 | +11⁄4 |
| 1,100 | Interborough Con. pf. | 371⁄2 | 35 | 371⁄2 | +21⁄2 |
| 100 | Internat. Agricultural | 14 | 14 | 14 | .. |
| 1,000 | Internat. Agricul. pf. | 581⁄2 | 55 | 581⁄2 | +21⁄2 |
| 7,900 | Interna. Harvester, new | 1191⁄2 | 1061⁄4 | 1187⁄8 | +127⁄8 |
| 100 | Interna. Harv. pf., new | 107 | 107 | 107 | -21⁄8 |
| 21,600 | Internat. Mer. Mar. | 311⁄4 | 291⁄4 | 291⁄2 | .. |
| 131,600 | Internat. Mer. Mar. pf. | 1251⁄2 | 1181⁄2 | 1191⁄8 | -13⁄8 |
| 17,500 | Internat. Nickel | 35 | 333⁄4 | 345⁄8 | +3⁄4 |
| 2,900 | Internat. Paper | 353⁄4 | 331⁄2 | 341⁄2 | +1 |
| 400 | Internat. P. pf., stamped | 63 | 623⁄4 | 623⁄4 | -1⁄4 |
| 300 | Iowa Central | 51⁄2 | 4 | 53⁄8 | +7⁄8 |
| 100 | JEWEL TEA | 35 | 35 | 35 | -2 |
| 18,400 | JANSAS CITY SOUTH. | 24 | 207⁄8 | 24 | +31⁄4 |
| 1,100 | Kansas City South. pf. | 571⁄2 | 56 | 571⁄2 | +2 |
| 1,000 | Kelly Spring. Tire | 58 | 571⁄8 | 58 | +1 |
| 100 | Kelly Spring. Tire pf. | 90 | 90 | 90 | +3 |
| 300 | Kelsey Wheel | 33 | 33 | 33 | +1 |
| 49,000 | Kennecott Copper | 411⁄8 | 391⁄8 | 41 | +11⁄2 |
| 58 | Kings Co. El. L. & P. | 104 | 104 | 104 | .. |
| 200 | Kreage (S. S.) Co. | 105 | 105 | 105 | +10 |
| 100 | Kreage (S. S.) Co. pf. | 1047⁄8 | 1047⁄8 | 1047⁄8 | .. |
| 5,100 | LACKAWANNA STEEL | 73 | 713⁄4 | 72 | -1⁄4 |
| 300 | Laclede Gas | 85 | 85 | 85 | +1⁄8 |
| 1,600 | Lake Erie & Western | 107⁄8 | 101⁄2 | 107⁄8 | +11⁄2 |
| 100 | Lake Erie & West. pf. | 25 | 25 | 25 | +3 |
| 1,000 | Lee Rubber & Tire | 201⁄2 | 19 | 20 | .. |
| 10,500 | Lehigh Valley | 643⁄4 | 611⁄2 | 64 | +31⁄8 |
| 100 | Liggett & Myers | 179 | 179 | 179 | -5 |
| 700 | Loose-Wiles Biscuit | 403⁄4 | 381⁄4 | 401⁄8 | +41⁄4 |
| 100 | Loose-Wiles Bis. 1st pf. | 93 | 93 | 93 | -1 |
| 200 | Lorillard (P.) Co. | 158 | 1563⁄4 | 1563⁄4 | +13⁄4 |
| 100 | Lorillard (P.) Co. pf. | 110 | 110 | 110 | +3 |
| 700 | Louisville & Nashville | 120 | 1161⁄2 | 120 | +35⁄8 |
| 200 | MACKAY COS. | 77 | 77 | 77 | +3⁄8 |
| 300 | Mackay Cos. pf. | 641⁄2 | 64 | 641⁄2 | +1⁄2 |
| 2,600 | Manhattan Elevated | 1017⁄8 | 98 | 1017⁄8 | +37⁄8 |
| 100 | Manhattan Shirt | 78 | 78 | 78 | +4 |
| 10,600 | Maxwell Motors | 417⁄8 | 35 | 41 | +61⁄2 |
| 2,400 | Maxwell Motors 1st pf. | 697⁄8 | 641⁄2 | 695⁄8 | +67⁄8 |
| 5,900 | Maxwell Motors 2d pf. | 323⁄8 | 271⁄4 | 317⁄8 | +47⁄8 |
| 700 | May Department Stores | 63 | 61 | 63 | +31⁄4 |
| 106,300 | Mexican Petroleum | 176 | 1583⁄4 | 172 | +15 |
| 400 | Mexican Petroleum pf. | 1041⁄4 | 1021⁄8 | 1041⁄4 | +31⁄4 |
| 6,500 | Miami Copper | 295⁄8 | 271⁄8 | 281⁄8 | +1⁄4 |
| 28,200 | Midvale Steel | 46 | 435⁄8 | 441⁄8 | -5⁄8 |
| 10,600 | Minn. & St. Louis, new | 153⁄4 | 121⁄2 | 153⁄4 | +33⁄4 |
| 850 | Minn., St. P. & S. S. M. | 97 | 93 | 97 | +3 |
| 14 | Minn., St. P. & S. S. M. pf. | 110 | 110 | 110 | .. |
| 3,200 | Mo., Kan. & Texas | 65⁄8 | 6 | 67⁄8 | +1⁄2 |
| 2,700 | Mo., Kan. & Texas pf. | 121⁄4 | 111⁄4 | 12 | +1 |
| 79,950 | Mo. Pacific | 311⁄2 | 27 | 311⁄4 | +41⁄2 |
| 4,400 | Mo. Pacific pf. | 62 | 58 | 62 | +41⁄8 |
| 1,700 | Montana Power | 791⁄4 | 751⁄4 | 79 | +15⁄8 |
| 1,100 | NATIONAL ACME | 311⁄2 | 301⁄8 | 301⁄8 | -7⁄8 |
| 900 | National Biscuit | 1097⁄8 | 1081⁄4 | 1087⁄8 | +11⁄4 |
| 100 | National Biscuit pf. | 110 | 110 | 110 | +1 |
| 5,100 | National Cond. & Cable | 16 | 141⁄2 | 151⁄2 | -3⁄4 |
| 1,400 | National Enam. & S. | 45 | 433⁄4 | 433⁄4 | +11⁄4 |
| 1,000 | National Lead | 625⁄8 | 60 | 62 | +21⁄2 |
| 200 | National Lead pf. | 1051⁄4 | 105 | 1051⁄4 | +1⁄4 |
| 5,000 | Nat. Rys. of Mex. 2d pf. | 101⁄2 | 81⁄4 | 81⁄4 | +11⁄4 |
| 2,900 | Nevada Con. Copper | 21 | 201⁄4 | 21 | +3⁄4 |
| 3,100 | New Orleans, Tex. & M. | 35 | 311⁄2 | 35 | +51⁄2 |
| 3,750 | N. Y. Air Brake | 107 | 991⁄4 | 107 | +2 |
| 32,300 | N. Y. Central | 831⁄8 | 791⁄4 | 831⁄2 | +41⁄2 |
| 100 | N. Y., Chi. & St. L. | 22 | 22 | 22 | +1 |
| 200 | N. Y. Dock | 201⁄2 | 201⁄2 | 201⁄2 | +3⁄4 |
| 24,300 | N. Y., N. H. & H. | 427⁄8 | 391⁄2 | 42 | +23⁄4 |
| 3,400 | N. Y., Ont. & West | 243⁄4 | 211⁄2 | 243⁄4 | +17⁄8 |
| 600 | Norfolk Southern | 15 | 14 | 141⁄2 | -11⁄2 |
| 4,400 | Norfolk & Western | 1113⁄4 | 108 | 1101⁄2 | +17⁄8 |
| 300 | North American | 521⁄2 | 51 | 521⁄2 | +6 |
| 27,100 | Northern Pacific | 104 | 931⁄2 | 103 | +97⁄8 |
| 200 | Nova Scotia Steel & C. | 631⁄2 | 63 | 63 | +3 |
| 28,400 | OHIO CITIES GAS | 473⁄8 | 443⁄4 | 463⁄4 | +13⁄4 |
| 300 | Ohio Fuel Supply | 42 | 417⁄8 | 417⁄8 | +7⁄8 |
| 800 | Ontario Mining | 71⁄2 | 71⁄8 | 75⁄8 | +1⁄4 |
| 800 | Owens Bottle Machine | 61 | 57 | 61 | +6 |
| 2,100 | PACIFIC MAIL | 351⁄4 | 335⁄8 | 35 | +2 |
| 200 | Pacific Tel. & Tel. | 241⁄2 | 233⁄4 | 233⁄4 | +7⁄8 |
| 17,200 | Pan Am. Pet. & T. | 703⁄4 | 651⁄2 | 691⁄2 | +41⁄2 |
| 1,300 | Pan Am. Pet. & T. pf. | 1221⁄2 | 115 | 1221⁄4 | +91⁄4 |
| 13,000 | Pennsylvania R. R. | 50 | 473⁄8 | 497⁄8 | +31⁄8 |
| 9,600 | People's Gas, Chicago | 61 | 57 | 597⁄8 | +31⁄8 |
| 500 | Peoria & Eastern | 61⁄8 | 51⁄2 | 61⁄4 | +5⁄8 |
| 5,100 | Pere Marquette | 173⁄4 | 151⁄8 | 171⁄4 | +13⁄4 |
| 1,100 | Pere Marquette prior pf. | 64 | 60 | 64 | +5 |
| 400 | Pere Marquette pf. | 411⁄2 | 40 | 40 | -2 |
| 5,900 | Philadelphia Co. | 347⁄8 | 331⁄8 | 341⁄2 | -1⁄8 |
| 27,900 | Pierce-Arrow | 51 | 453⁄4 | 51 | +51⁄4 |
| 1,400 | Pierce-Arrow pf. | 1027⁄8 | 101 | 1027⁄8 | +15⁄8 |
| 16,300 | Pierce Oil | 185⁄8 | 171⁄4 | 181⁄8 | +11⁄8 |
| 5,000 | Pittsburgh Coal | 493⁄4 | 481⁄2 | 487⁄8 | -3⁄4 |
| 400 | Pittsburgh Coal pf. | 831⁄8 | 83 | 83 | .. |
| 100 | Pitts., C., C. & St. L. | 581⁄8 | 581⁄2 | +5⁄8 | |
| 20,200 | Pitts. & West Va. | 371⁄2 | 35 | 371⁄8 | +3 |
| 400 | Pitts. & West Va. pf. | 80 | 781⁄2 | 80 | +2 |
| 1,000 | Pressed Steel Car | 683⁄4 | 671⁄8 | 68 | +3⁄4 |
| 100 | Pressed Steel Car pf. | 98 | 98 | 98 | +1⁄2 |
| 100 | Public Service, N. J. | 90 | 90 | 90 | .. |
| 1,100 | Pullman Co. | 127 | 1243⁄4 | 127 | +2 |
| 5,100 | Railway Steel Spring | 691⁄2 | 661⁄2 | 681⁄4 | +21⁄4 |
| 200 | RAILWAY STEEL S. pf | 1021⁄2 | 102 | +1 | |
| 5,900 | Ray Con. Copper | 251⁄4 | 245⁄7 | 251⁄8 | +1⁄4 |
| 65,200 | Reading | 93 | 89 | 913⁄8 | +31⁄8 |
| 400 | Reading 1st pf. | 38 | 371⁄2 | 38 | +1 |
| 800 | Reading 2d pf. | 391⁄4 | 39 | 391⁄4 | .. |
| 15,500 | Republic Iron & Steel | 821⁄4 | 771⁄4 | 797⁄8 | .. |
| 800 | Republic Iro & Steel pf. | 993⁄4 | 991⁄2 | 993⁄4 | .. |
| 5,180 | Royal Dutch. t. r. | 125 | 116 | 118 | -2 |
| 15,800 | ST. L.-SAN FRAN. | 161⁄8 | 13 | 161⁄2 | +4 |
| 700 | St. L.-San Fran. pf. | 33 | 30 | 33 | +5 |
| 100 | St. Louis Southwestern | 24 | 24 | 24 | +21⁄2 |
| 550 | St. Louis Southwest. pf. | 391⁄2 | 371⁄8 | 391⁄2 | +43⁄8 |
| 400 | Savage Arms | 613⁄4 | 61 | 61 | -11⁄2 |
| 3,600 | Saxon Motor | 125⁄8 | 91⁄2 | 125⁄8 | +31⁄8 |
| 11,500 | Seaboard Air Line | 11 | 9 | 107⁄8 | +17⁄8 |
| 7,300 | Seaboard Air Line pf. | 241⁄2 | 21 | 243⁄8 | +4 |
| 700 | Sears, Roebuck & Co. | 167 | 1643⁄4 | 167 | +9 |
| 5,700 | Shattuck-Arizona | 165⁄8 | 151⁄2 | 165⁄8 | +1 |
| 21,700 | Sinclair Oil Refining | 38 | 341⁄2 | 371⁄2 | +31⁄4 |
| 600 | Sloss-Sheffield Steel & I. | 52 | 501⁄2 | 52 | +11⁄2 |
| 435,500 | Southern Pacific | 110 | 1031⁄4 | 1081⁄8 | +51⁄4 |
| 78,900 | Southern Railway | 341⁄4 | 315⁄8 | 341⁄8 | +23⁄4 |
| 5,900 | Southern Railway pf. | 737⁄8 | 693⁄4 | 737⁄8 | +47⁄8 |
| 100 | Standard Milling | 1171⁄2 | 1171⁄2 | 1171⁄2 | +1 |
| 280 | Standard Milling pf. | 86 | 85 | 85 | +1 |
| 81,800 | Studebaker Co. | 727⁄8 | 641⁄2 | 713⁄8 | +77⁄8 |
| 200 | Studebaker Co. pf. | 100 | 97 | 100 | +4 |
| 5,600 | Stutz Motor | 451⁄8 | 42 | 45 | +3 |
| 1,400 | Superior Steel | 371⁄8 | 361⁄2 | 37 | +1 |
| 3,500 | TENN. COP. & CHEM. | 171⁄4 | 157⁄8 | 171⁄4 | +11⁄4 |
| 11,000 | Texas Co. | 1951⁄2 | 186 | 1927⁄8 | +9 |
| 25,600 | Texas & Pacific | 271⁄8 | 20 | 261⁄4 | +63⁄8 |
| 2,600 | Third Avenue | 201⁄2 | 181⁄4 | 19 | +1⁄8 |
| 41,700 | Tobacco Products | 791⁄4 | 751⁄2 | 781⁄2 | +33⁄4 |
| 300 | Tol., St. L. & W. t. r. | 7 | 63⁄4 | 63⁄4 | +1⁄4 |
| 300 | Tol., St. L. & W. pf. t. r. | 141⁄2 | 14 | 141⁄2 | +1⁄2 |
| 100 | Twin City Rap. Tran. | 48 | 48 | 48 | -1 |
| 500 | UNDERWOOD TYPE. | 109 | 109 | 109 | -11⁄4 |
| 200 | Union Bag & Paper | 75 | 731⁄2 | 75 | +21⁄2 |
| 37,790 | Union Pacific | 1371⁄2 | 1317⁄8 | 1361⁄2 | +43⁄4 |
| 5,000 | Union Pacific pf. | 76 | 71 | 76 | +5 |
| 1,100 | United Alloy Steel | 383⁄4 | 367⁄8 | 383⁄4 | +13⁄4 |
| 13,000 | United Cigar Stores | 1041⁄4 | 101 | 1031⁄2 | +21⁄2 |
| 100 | United Drug | 75 | 75 | 75 | +2 |
| 300 | United Drug 2d pf. | 82 | 791⁄8 | 82 | +31⁄4 |
| 1,000 | United Fruit | 149 | 144 | 147 | +2 |
| 1,600 | United Rys. Investment | 10 | 9 | 9 | -1 |
| 400 | United Rys. Invest. pf. | 17 | 167⁄8 | 17 | +1⁄4 |
| 600 | U.S. Cast Iron P. & F. | 151⁄4 | 14 | 151⁄8 | +11⁄8 |
| 500 | U.S. Express | 161⁄2 | 161⁄8 | 161⁄8 | +1⁄8 |
| 26,900 | U.S. Ind. Alcohol | 102 | 97 | 991⁄8 | -21⁄4 |
| 300 | U.S. Ind. Alcohol pf. | 941⁄2 | 941⁄2 | 941⁄2 | .. |
| 37,800 | U.S. Rubber | 751⁄4 | 675⁄8 | 733⁄8 | +55⁄8 |
| 5,000 | U.S. Rubber 1st pf. | 1061⁄2 | 103 | 106 | +3 |
| 5,300 | U.S. Smelt., Ref. & M. | 505⁄8 | 47 | 505⁄8 | +31⁄8 |
| 100 | U.S. Smelt, R. & M. pf. | 46 | 46 | 46 | .. |
| 567,400 | U.S. Steel | 1041⁄8 | 1003⁄8 | 1023⁄4 | +15⁄8 |
| 2,200 | U.S. Steel pf. | 1123⁄4 | 1111⁄2 | 1123⁄4 | +17⁄8 |
| 12,700 | Utah Copper | 913⁄4 | 881⁄2 | 911⁄4 | +31⁄4 |
| 2,800 | Utah Securities | 16 | 13 | 16 | +3 |
| 8,900 | VA.-CARO. CHEM. | 601⁄4 | 561⁄8 | 581⁄2 | +25⁄8 |
| 200 | Va.-Caro. Chem. pf. | 111 | 110 | 111 | +13⁄4 |
| 400 | Va. Iron, Coal & Coke | 69 | 68 | 68 | -1 |
| 14,900 | WABASH | 103⁄4 | 93⁄8 | 105⁄8 | +11⁄8 |
| 10,500 | Wabash pf. A | 411⁄8 | 383⁄4 | 41 | +21⁄4 |
| 700 | Wabash pf. B | 251⁄8 | 243⁄4 | 23 | +1 |
| 300 | Wells Fargo Express | 78 | 76 | 76 | -2 |
| 21,600 | Western Maryland | 151⁄2 | 137⁄8 | 151⁄2 | +17⁄8 |
| 700 | Western Maryland 2d pf. | 307⁄8 | 28 | 307⁄8 | +3⁄4 |
| 3,000 | Western Pacific | 24 | 19 | 231⁄2 | +41⁄2 |
| 2,000 | Western Pacific pf. | 631⁄4 | 601⁄2 | 631⁄4 | +3 |
| 4,515 | Western Union Tel. | 931⁄2 | 921⁄4 | 931⁄2 | +11⁄2 |
| 17,100 | Westinghouse E. & M. | 453⁄4 | 431⁄4 | 451⁄2 | +13⁄4 |
| 100 | Westinghouse 1st pf. | 641⁄2 | 641⁄2 | 641⁄2 | +11⁄2 |
| 11,700 | Wheeling & Lake Erie | 113⁄4 | 9 | 113⁄4 | +25⁄8 |
| 700 | Wheel. & Lake Erie pf. | 241⁄2 | 23 | 231⁄2 | +11⁄2 |
| 2,500 | White Motors | 49 | 46 | 49 | +31⁄8 |
| 23,700 | Wilson & Co. | 707⁄8 | 611⁄2 | 69 | +71⁄2 |
| 83,600 | Willys-Overland | 281⁄8 | 24 | 277⁄8 | +41⁄8 |
| 3,600 | Willys-Overland pf. | 853⁄4 | 841⁄4 | 851⁄2 | .. |
| 200 | Wisconsin Central | 37 | 37 | 37 | .. |
| 600 | Woolworth (F. W.) Co. | 125 | 1211⁄4 | 125 | +43⁄4 |
| 300 | Worthington Pump | 52 | 52 | 52 | -1⁄4 |
| 100 | Worth. Pump pf. A | 90 | 90 | 90 | .. |
| 200 | Worth. Pump pf. B | 66 | 66 | 66 | +1⁄2 |
- Ex dividend.
PURCHASING POWER OF MONEY
When the world is again following its peaceful pursuits, the purchasing power of money should be much greater than today. The man who will profit by this unusual condition is the man who invests now in well secured long-term bonds. By investing in bonds of this character, he not only would receive over a long period of years the unusually high return they now yield, but the purchasing power of his income would be materially increased as commodity prices gradually decline. Let us suggest to you some long-term bonds.
Write for List No. 1219
"Well Secured Long-Term Bonds"
Spencer Trask & Co.
25 Broad Street, New York
ALBANY BOSTON CHICAGO
Members New York Stock Exchange
U.S. Government Bonds
Treasury Certificates
Foreign Gov't Bonds
Municipal Bonds
Public Utility Bonds
Railroad Bonds
Short Time Notes
General Circular 102 under request.
Harris, Forbes & Co
Pine Street, Corner William NEW YORK
EXEMPT FROM ALL FEDERAL INCOME TAXES
JOLIET, ILL., 5s Due September 1, 1919-25
LYNDHURST, N.J., 5s Due July 1, 1919-57
PORTSMOUTH, VA., 6s Due July 1, 1928
ASHEVILLE, N.C., 5 1/4s Due July 1, 1919-57
Prices Upon Application.
R. M. GRANT & CO.
31 NASSAU ST., NEW YORK
BOSTON CHICAGO
United States Rubber
Pierce Arrow Motor
as Peace Stocks
Send for Special Review A 52
Also Analyses on Sugar Stocks
Punta Alegre
Cuba Cane
Cuban American
Lamborn & Co.
Seven Wall Street New York Tel. 6310 Rector
Philadelphia New Orleans Savannah Havana
Members
N.Y. Stock Ex. N.Y. Produce Ex. N.Y. Cotton Ex. N.Y. Cof. & Sug. Ex. Chicago Board of Trade London Produce Clearing House, Ltd.
MORGAN & KANE
Members
New York Stock Exchange
66 BROADWAY, NEW YORK
Telephone Rector 5741
New York State Bonds
Barr & Schmeltzer
Members New York Stock Exchange
14 Wall St. Specialists. New York.
New Jersey Securities
Outwater & Wells
35 Exchange Place. Tel. 29 Montgomery. Jersey City, N.J.
MERRILL, LYNCH & CO.
7 Wall St.
Jones Bros. Tea
Edmunds & Jones
Trading Dept.
Far Sighted Investing.
Many investors, who a few months ago were waiting for still lower prices are now buying. This is indicated by the rising tendency of many issues.
The law of supply and demand is reflected in the prices of bonds as in all commodities.
Municipal Bonds
at this time and their Income Tax Exempt feature make them particularly attractive to discriminating investors.
Write for our List B-94 of Municipal Bond Issues Yielding 4 1/2 to 6%
Spitzer, Rorick & Co.
Established 1871
Equitable Bldg., Toledo New York Chicago
POST-WAR VALUES:
We have issued a Special Bulletin in which the more active and representative securities listed on the New York Stock Exchange have been classified into several groups indicating their respective relations towards present and future financial and economic conditions. Our reasons for these classifications are also set forth.
Copies of this bulletin will be sent free upon request.
J. S. Bache & Co.
Members New York Stock Exchange
42 Broadway, New York.
Listed securities bought and sold for investment or conservative margin account.
B. H. & F. W. Pelzer
Members N.Y. Stock Exchange
Phone Broad 6037. 12 Broadway
Liggett & Drexel
Members New York Stock Exchange
Conservative Investments
61 Broadway—New York Boston Philadelphia Buffalo
F. M. Dyer & Co.
High-Grade Investment Securities
24 Broad Street, New York City
Telephone 3620 Rector, Boston. New Haven.
Municipal Bonds
Exempt from Federal Taxes
Eligible to secure Postal Savings Deposits
Field, Richards & Co
100 Broadway, N. Y. Tel. 1356 Rector. Cincinnati Cleveland Chicago
Prudden & Company
Toledo, Ohio
85 Cedar St., New York
Tel. Cortlandt 5164
Municipal Bonds
Clark, Dodge & Co.
Railroad—Industrial—Public Utility
Government—Municipal
Investment Securites
Statistical information regarding securities furnished to investors and trustees.
Security Issues Negotiated
51 Wall Street, New York
Guaranteed First Mortgages
Free from Personal Taxation
We offer Guaranteed First Mortgage Investments
On New York City Read Estate at 51⁄2% to amounts of $100 and up, and also the following mortgages
| Amount of Loan | Guaranteed Rate of Interest to Investor | Stories | Material | Type | Rental | Value of Security |
|---|---|---|---|---|---|---|
| $1,800 | 51⁄2% | 2 & Cellar | Brick | Dwelling | Owner Occupier | $3,250 |
| 3,250 | 5% | 2 & Cellar | Bright & Stucco | Dwelling | Owner Occupier | 6,250 |
| 4,000 | 51⁄2% | 5 & Bas't | Brick | Apartments | $1,896 | 9,000 |
| 8,000 | 5% | 5 & Bas't | Brick | Stores & Apartments | 2,766 | 15,000 |
Details of other offerings in various amounts, with photographs of properties, furnished upon request.
When buying real estate consult us relative to Title Examination.
Write for booklet, "The Ideal Investment."
New York Title and Mortgage Company
CAPITAL AND SURPLUS MORE THAN $3,000,000
135 Broadway, New York Phone 6880 Cortlandt
203 Montague St., Brooklyn Phone 7100 Male
PEACE INVESTMENTS
A revaluation of many securities will be necessary with conditions obtaining under the peace readjustment. Many of the long term bonds of the Railway and Industrial companies offer great opportunities to obtain investments that will be safe for years to come.
Correspondence with investors invited.
Dominick & Dominick
115 Broadway, New York
Phone 2080 Rector
We Finance
Electric Light, Power and Street Railway Enterprises with Records of Established Earnings
We Offer
Bankers and Investment Dealers
Proven Public Utility Securities
Correspondence solicited
Electric Bond and Share Company
(Paid-up Capital and Surplus, $21,000,000)
71 Broadway New York
Exempt from all Federal Income Taxes
Our complete list of Municipal Bonds contains, among many other attractive issues, the following:
| Issue | Maturity | Yield |
|---|---|---|
| City of Syracuse, N. Y., 41⁄4s | 1920-1922 | 4.40% |
| City of Cleveland, Ohio, 5s | 1930-1945 | 4.50% |
| Oakdale, Pa., Tax Free 5s | 1928-1943 | 4.60% |
| City of Akron, Ohio, 41⁄2s | 1925 | 4.60% |
| Cascade County, Montana, 43⁄4s | 1927-1933 | 4.70% |
| Jefferson County, Mo., 41⁄2s | 1924-1930 | 4.75% |
| City of Hopkinsville, Ky., School 5s | 1936 | 4.75% |
| State of Louisiana Port 5s | 1941-1953 | 4.75% |
| City of Lakewood, Ohio, 5s | 1924-1932 | 4.75% |
| City of Hillsboro, Ill., 6s | 1938 | 4.80% |
| Port of Astoria, Oregon, 5s | 1932-1948 | 5.00% |
| Mitchell Co., Texax, 5s | 1924-1957 | 5.00% |
| City of Madisonville, Ky., 5s | 1933 | 5.00% |
| City of Ardmere, Okla., 5s | 1928-1938 | 5.00% |
| Freestone Co., Texas, Road 5s | 1919-1948 | 5.20% |
| Houston County, Tex., Road Dist. 5s | 1920-1937 | 5.20% |
| McKensie County, No. Dak., 6s | 1923 | 5.25% |
| City of Durant, Okla., 6s | 1933 | 5.37% |
| Southeast Arkansas Levee Dist. 6s | 1923-1937 | 5.50% |
| Walthall Co., Miss., Sup. Dist 6s | 1928-1941 | 5.50% |
| Lake Worth, D. D., Palm Beach Co., Fla., 6s | 1922-1944 | 6.00% |
We shall be pleased, upon request, to send our latest revised list, G-206, together with full descriptive circulars on any of the above.
William R. Compton Company
Government and Municipal Bonds
"Over a Quarter Century in this Business."
14 Wall Street, New York
St. Louis Cincinnati Pittsburgh Chicago Jackson, Miss.
FINANCIAL NOTICES.
TODD SHIPYARDS CORPORATION
5 Year 6% Convertible Gold Notes.
SINKING FUND NOTICE.
Notice is hereby given, pursuant to the provisions of Section 4, Article 4, of the Indenture of Trust, under which the above Notes were issued, that the sum now in hand, together with the sum to be paid into the Sinking Fund on December 16, 1918, amounts to Eight hundred twenty-eight thousand, two hundred twenty-five and 74/100 ($828,225.74) dollars.
Sealed offers for the sale of Notes at a price not exceeding accrued interest and 107% of the face amount thereof will be received by the undersigned at any time up to twelve (12) o'clock noon December 10th, 1918, at No. 2 Wall Street, New York City, or No. 177 Montague Street, Brooklyn, New York.
Unless otherwise stated, offers may be accepted pro rata. Offers should be marked "Tender of Todd Shipyards Corporation Notes." Payment for accepted offers will be made December 16th, 1918, at our office, 2 Wall Street, New York, after which date interest on accepted notes will cease.
BROOKLYN TRUST COMPANY.
Trustee under Indenture of Trust.
Dated, New York, Nov. 11, 1918.
PENNSYLVANIA IRON WORKS COMPANY.
NOTICE is given that under the provisions of the Trust Mortgage the following six First Mortgage Five per cent. Gold Coupon Bonds of the Pennsylvania Iron Works Company, for $1,000 each, due November 15, 1921, have been drawn for payment, and will be paid at 105 and interest, at the office of The Land Title and Trust Company, Trustee, Philadelphia, Pa., on November 15, 1918, on which date interest will cease.
Bonds No. 30, 36, 92, 127, 138, 243.
THE LAND TITLE AND TRUST COMPANY, Trustee.
Philadelphia, October 16, 1918.
To the Holders of the PRIOR LIEN FIVE PER CENT. GOLD BONDS, dated the 30th day of June, 1909, and of the Scrip representing fractional amounts of such bonds, issued by ECLIPSE TANNING COMPANY:
Please take notice that the property of the Eclipse Tanning Company having been sold for the sum of $190,000 on the foreclosure sale held on the 19th day of September, 1917, by virtue of a decree for sale issued out of the Court of Chancery of New Jersey, in the suit entitled, "United States Mortgage and Trust Company, Complainant, and Eclipse Tanning Company, Defendant," and a Receiver having been appointed to collect the rents, issues and profits of Eclipse Tanning Company in said suit, and said Receiver having paid over to said United States Mortgage & Trust Company the sum of $95.24, the net proceeds of said foreclosure sale, viz., $96,241.15, and said sum of $95.24 are now ready for pro rata distribution among the holders of Prior Lien Gold Bonds and Scrip representing fractional amounts of said bonds of Eclipse Tanning Company, and said net proceeds and said sum of $95.24 will be paid to the holders of said Bonds and Scrip upon presentation thereof at the office of the United States Mortgage & Trust Company, No. 35 Cedar Street, Borough of Manhattan, City of New York, for indorsement thereon of the the payments to which the holders thereof are respectively entitled.
Dated, November 1st, 1918.
UNITED STATES MORTGAGE & TRUST COMPANY, Trustee.
THE AMERICAN THREAD COMPANY.
Notice is hereby given that the Transfer Books of this Company will be closed at the office of the Guaranty Trust Company, 140 Broadway, New York, from Nov. 15th to 30th, 1918, both days, inclusive.
J. G. WYLIE, Treasurer.
