s.; 'tafifasi vm i ttT! 3 ' " ' - 'I' .... IMUiVXkBki ; ffl CURB Touches New Tep for Movement oils wm. Mines Are Lewer -,feA, April 10Aftcr the start ui prices u" .1 i Trading, however, was. active In - f the low-priced Issues. Meters Jjth dealings. Kce Meters again im a new lli mark for the ESS5? lllns at 24J4c. Gillette -. urilinn-. ;-" V. Inu- level nt 2c. Pes- Jl anil Sterling Products ruled JSte a new high at 10. KK. McNeil & Mbby, en the ether "".. ..Gl fnr sale and se m W" "". " , ."I - OT. . Ef Hirer wfl cn,,1(!r !"l lnc,,nV1 ? u,iih. American Tobacco nil- Jftreal anil Sterling W . ,i,il. clemli- worn rum. W. M.0C"'. .: " ' I-Yl mini,,, Brn, n tSten and Mentana Issues were Kd lower. First National Cep. Km strong, sclllna up te $1. ISMfSTRIAIJ JIlKh liOv 1 P.M. fflSfnJuiri':::: ' " JAm Micht ,, J v. iti rAiip rib . . n 20 K aS Teb new HI 10 W EiSEldy Huds .... I A 1 7000 Beem OH i .., ir 2100 Bosten jyyem . , . 71 euu unrie ayn 1 70. Bvn : , M74 ni3 CItle Bervled old, 204 202M, 200 HOO 8400 Engineer Pelrel . . 02 no 14 70 lis I Cities Serv II clfB.. Uttt 2 I'i 2IM iCelum I'et lj lj iH I Creele Bvn 2 2 2i 1800 Federal Oil 9Afi tAnala nil . . 700 aillllnnd Oil .... SOO nienrerk Oil . , , 1000 Hudsen Oil 700 Int Petrel inne Klrby Pet nne Livingston Pet , JlOn.lAena Pet 200 Magma Oil flOO Mftrncnlbe Oil . , 1800Merrltt Oil .... 10O0 Mcrldnn Pet .... 800 Mexican Kagle . 8.100 Mexico OH .... lOOSrex Pan 8n00 Mexico Roebonrd 100 Mountain Pred 400 Mutual Oil .... 100 Nm Oil N J ... 200 Nn Am Oil . . . . Sunn Nnlrin 141100 Omar Oil 1000 Prnd k net ... 1000 Hlmms Pet .... 200 Hkellv Oil 100 Seuth Oil A 100 Tex Ken ... 15700 Texon 100 Vie OH ww 2000 Went Stntes 2000 Y Oil 1 24 lS'i " 1A 11 24 1R?i 28 ltt . 01 R4 .112 RO . 23 22'4 . 11 10T. . 10 10 . lSi 1R4 I .ft u 82 804 . 12'A 12J4 . m m . 14 1i . 2" 23 .I'i 1H . r. r.H . 11 10'A Trnn. 1 OS R7 II) OR r.- 18 0' .'J4 11 u JH 2iA 1RH 23 IK 88 112 22; 10 10 lR'i 4 -'W 31 12A 0 m 1i 21 It 1 n OR R7 2R 18 ai II OR 12 N n.- O'i ,(1T1 let n.i 12 8 2e '.; mm.Wu.v: Vm ".q.'t, e.a Sii if 3i 'Sceumhia Power . 1 Mc5mbla Emerald. 70 5.rinlev Tinfoil 1- S' S liKKSVint Met of Ind 1RU 1R1 IS' Bfff,jni Moter. ... 30. a?' ;i I fSiEiitniAn Kodak .. ! , CiKIK Sttr nailery, jitj . ii .. HJBB'.5n.S,eSoieri: feu i : '.Urt.rMnei- Motern .. VHk l.Vi ininltn Ald'-n Ceal.. 4n Siole-te Baf lUxer.SJI SiOoedyenr Tlr ... IJU JMOemljesr Jim Diei e- bjfOOIJfte ntiuii..! tO Inter Hutar Cuba. pmier i.tjiii i . . . .JOIIU" TO'" lUh Vallev; .... rinmln Motern A . RlFtrkard Moter . . ?2sj,vilii ::: ftidle Rtaieprei ... Vn.firM . . m i."" ;;;,. i. , pFeiith Ceal nnd Ir. '"":.. ii.. 0 IR' 8' 1' 8i 20 1 OS :i'. 2' it 13 (l.l 'i 3 '4 3H 24. !iiFteriinr i-ree . (M Swirt lnternat . IMJIOb Pred Kxp .. iteVfih & H .. ,IOOU 0 DlCHMi ... .MiiWiit.rn Hlec of. lOOl'n Prof hSar new. 1 oe'i 1.V 1T 41 i 17'4 r, I'i in n'4 inei'n Ht Candy JOO Wayne Ceal .. 'J04Vnrialt, . STANDARD OILS ttOAmle-Am Oil .. .. 1SS iAn.li OH . . . . JMIrap Oil Canada "ll Northern P I. . : ,a aeuth Penn Oil . I1MS Oil of Ind . . III Ull ei rv " i J8 0II ef N T H)8 O Of Ky nialr t 1NDEPF3DET OILS wonted en . .. a SBIATKBn ai v-irt-. .. I 0(1 i2; 30 Vi n 14H H'4 2S' 01 24 2i t) 12 s 03 T, 3', 3 A 24' i T 10 IK. ,eA inn n'l 4' 1 Ml 4 .. 484 ..100 . . 2R' ..10(1 . .1MI . 88' . . 7114 ..372 . . 70 184 484 en 284 10(1 180 87 704 372 70 3 US i 1 1 U 20 in", Klti 4R 201 131; 37 n; li , 84 1'4 N' 08 2, 2 '4 II 12J, & 3 A 24 . I T,v 10T4 4li 17 4 r. !', 10 ion O'i R 1 r.u',4 iss 4S4 Iltl 2Ri 1(1(1 1811 87 s; 704 372 70 MINIMI 4000 Alpha 32 BOO Belcher Kxt 3 1 2000 niK I.ed ....-, 18 30000 Itent A Ment 2R 300000 Pert Hi Ment Cen., 100 4000 Canada Cep 2R 200n Candelnrln M .... 20 200 Cena Cen M 1 .V lOOOCnrlez silver .... 03 2000 Dlvlde Kxt 17 0(100 rcurrhn f'ree.us . . 2R HOOFIr.t Nat Mln ...loe 2noe neidn"ld Pler ... 22 1000 Held one 13 1000 Hard Hhell 22 13000 H.irmlll Dlv 14 100 Hntllnccr 04 100O0 Independ Lead ... 20 300 Jereme Verde 200 Kerr t.ake 34 moeMcKIn Dar 2.1 lOOOJullu. Cen. 23 IfiOMncmu Cenner ... 2 lonMneen Vnliey ... 2 000 Mether 1de Clt.. 8U 4000 Xntlennt Tin 00 3000 Nevada Cr.hlr ... .I 200 NlnlMlnir O'i 21000 nex Cem 10 loeo Reehctcr Mlnea .. 2n 1OO0 Silver Pale 10' 12000 Slher Pick . ... 201 R00 Pe Am P A O ... 4 7'oe Stewnrd Mlnlnc .. 12 200 Tonennh Pelment . 1 8000 Tonopah DUIile .. 74 1300 Tnnnpah 1'xlenalen. 14 1000 Tnnnpnh Ne Htnr... R 200 101110100 "',, :"100 ltrilted nnntern. ... II 10000 Victory 2 1000 Vnk nne Mlne .... 4'.t 000 Wet I'nd Cen .. 1ft 1IW0 White Cal" 4 sr.nn Yuknn Held .... l' DONDS ftOOO Allied Packer n. . 7" 72 72 noeoAium 7j. of 'a..i?5;j lj?'". ?,? 10000 Am l.lrht 0. ..., JJO'S JO'- '. ' inenAm Tel n of 22.100 lOja. inea, loon i Tel 0 of "24.101 101 let MmXS Teb 7. of '23.10, 102U, 102 u, inoe Anaconda e ..... nn. "" ?' mnn Atinnmn ih ni j (" .-... . . 32 32 3 3 17 17 23 21 81 no 23 2R 2R 29 1 U 114 03 1)3 17 17 21 2R 8R 100 20 20 13 13 n2 12 TT n'i n4 28 28 3H 3 e e2''4 2R 23 2R 23 28 2m 2 2 8 4 si; RS RO 37 37 ei; en ti 'i 20 ".'0 ie in 20 20 4i . 4 i 11 11 1 ; ' ; 70 73 1'i 14 R 3 OR OR I A 1 A M 4 4? .A 1A l 1 02 no. F blla Ce 0..,,,.. DOT I'OH DOT hlllpplne R4 ...1004 leVld 1004 ub Herv N J 7...100U 100 100(1 000 Hak. Ce 7. 1004 100U 1004 0J0 Hear. Itea 7s of 23.101 100H lOQji OOOHelVay 8 104U 104U 104' mm, mm$mmmwm (' uvie r lh .'v-- onetf'Nor Am Edlaen 9 2H 2000 NOr OblO f.l.h, ttf. in nruv i-uiia un ., , , , JUUUU 1' 11000 I 7000 Hak niiiKi 8000 7000 HeuthW Uell 7. 1 .IflOftZ 11191? IO'iIa 11100 H O N Y 7 of 2V.1044 1044 104 n.L'2 H O NY 7s of 31. .1084 1084 1084 jneOH O NY 04. ...100 10(1 100 "' nun Ktlt ,n J1JU7. 1UUM, lOU TJOOOHwft Ce 7. of 23.101H 101U 10l2 r.OliOHwift 7. of 81... 102 102H 103 ,nS28 J''!U9." 7".- '91 ,0S ioe 1S22 T.l BHn 7 ...I0RU lORVi 105U 2300OUn Oil Pred 8. ..101 08 100 H,!!5n lly "?v T4 .103 103 108 H22il Vftcuum 7 10Oi 108 10IIU 3000 Warner Rnr 7. OP no no J. ...n ...-. ... J. x .-.. ."".. ." j.ivv ,eni L.ICO in , ,,,jun. 4001) ArRcntlne 7. ....IHi't no'! n;i 1?.?. 1?'4 13000 City Hola.ens oil. 804 80 80 iiiiia, namuurg i. ay, 3 n 4iiuiK) itu.man "Via ctr., 234 23 23 IlllOO Ru.rlan 34. ctffl. 22 21 22 soeohwi.. B4 ii)i4 inm 101H .i'ivifii iuu Janeiro. ea..iu-f HM, 1(14 30(Jl() V a Mcx 4. 47 40! 404 LIVE8TOCK QUOTATIONS Chlrnire, April 10. CATTI.T, necelpt., 18,000 head. Blew. 1'ew early .ale. beef .leer, weak te 2.",e lower. Early top, 18. 7R: bull: of quality te tell at 7.25R.2R: the aleck weak te lower; fat cow. and heifer., GOSSIP OF THE STREET Wheld-heurted public participation In thp stock market was In evidence from the beginning tn the end of tut last week. It haa been a Ionic tlm since public buying has been en uh a bread scale as recently has taken pjacc. The dally turnover en the New Yerk Stock Kxchangc wns larger than at any time In manv months. It mat tered little whnt stock one chose for action, ns the rise was general, ex-, tending throughout the entire list, it wns said that houses with 'Western, wire connections did r larger business in the Inst week than In any similar period In a couple of years. A factor which should be cenMdcref. la the largely Increased number of steeks that nre new traded In. Anether fac tor Is that the public Is becoming mere generally educated te the purchase of mostly SR.i3fln.0R: bologna bull, and ateck-1 securities, through the knowledge gained er., nteady; boleitna. lamely $4.2.O4.40: fewLdurlng the Liberty Lean campaigns let heavlca. f4.R0; blddlnc 25c tn fiOe lower en venl canes, meetiy areunn T.rn , 11008 nerelpta, 40,000 head. Me.tly lOq te IRe hlKher than Hatutday'. average; fairly active, but most blK packer, holding; back. Tep. till bulk. 110. n0 10.115; plica about Mcadv HIIK'KP n.eceltt, 14,000 head. Generally Mead yte atrenn; woeled Iambi, top earlv. $10.23; bulk .horn lamb., early, ilS.'.'r. 13 113; .horn wethera, 10O10.2Ai shorn ewe top, $11.23; few head native .prlnir lamb-. ZmV, cnoice UKni anearinB: iuiikjb, tie'U'lii.nv. Knal S fxmls. April 10. .CATTLE Ho He Ho celpt., 2,'On head, Steers fairly active; mostly .toady with spot. atrer; ether b'j'f classea ateady; bulk Keed te choice Unlit eal calve., 8. 23080; top, $8.7R; steiker. nnd feeder.. IRe te 2,"ie hluher. 1IOOS Uecelpts, 14,000 head. Active, mostly 10e te 1.1c hlxhcr. Tep. $10; hulk 100 t 230 pound nvrrnRC., $10.7RWI0.t)il; bulk, 140 te 100 peunder., $10.40010.75; pis. and packer sews, .tcady; bulk of smooth packer sews. $0, HIIEKP nece'pt.. 700 head. Steady; part loud chelcn Tenne.see .prlntr Inmbs, $20; choice. 120-pound .horn ewes, $8,30; no choice wool IntnbH en .ale. Pittsburgh, April 10. CATTLE Itecelpts. 1.10(1 head. Hteady. Steers, R.2." rtfl.fiil: heifer., I0.73O7.03; cows, $4. 2303.30. Calves, receipts. 1100 head, Steady. Tep, 111. no. HOOK Ilecelpt.. 7800 head. Steady. Heale. heavy verkera, light yerkera and Mb-, til. liiflll. 2.1. SltKHI AND LAMPS Receipts. 3000 head Steady. Tcp ahecp, $1); top lambs, $11.23. Kn.t llnffale. April 10. CATTLE He celnts. 2.100 hend. fleneraliv, leffl.le lower' shlrpInK .tens, $7. 21 1 8. .10; hutcher. $7.2.1i..in; yenrlliiKs. $SW0. heifers. $3 2R stnekers nnd feeders. SRfCfl; fresh row. and sprliiKcra .trout, $4." OHO. t'alies, r celnts, 1000 head, Twe dellara lower; $30 10 SO. lines Tlecclpts. 10.000 head. Ten cents te 2.1c lower; heavv, $IO.7.HfM1.10; mixed. 111.10; yerker. and nam yerkr.. ju.kiic experienced in successfully placing such IsHiics with the public. It will be recalled that ever a period of the last month foreign government bends, an a whole, have' established new high quotations and the demand for them hns been greater than at any time since the close of the European war. Naturally, the mere liberal return available en this class of securities has been a factor In stimulating investment buying of this class of bends and It evidently Is new becoming mere gen erally realized that foreign issues pos sess real merit. Strength of the Liberty Issues United States Government bends rMnblished new high records last week and there has been a mere universal demand for them with a larger volume of transactions being recorded than for some time past. These who were se fertunate as te have purchased Liberty Ilends in the 80s naturally have been tempted te take profits in the upward movement reccntlv under way. and this. in seiiiq measure, has checked the Deuyancy that might otherwise nave been experienced in the Liberty market. Hut the dally absorption of this group 01 issues has been he large as te pre vent even a moderate decline from the higher levels that have been established. Over n period of the next several months. Serretarv of the Treasury Mellen is expected te be In the market for the sale of n larcc amount of United States Government fchert-tcrm notes with maturities ranging from five te ten yearn. While nothing definite hns yet been stated by Government officials as te what they have in mind in tills respect, the feeling is that the offerings will be put out in, say, $e00.000,0tH) amounts until the approximate $3,000.- ihju.euu new money required by tnc surprising te ace October and December swell above the summer positions. Hecker ft Ce. "The continued rise In the market has In many Instances discounted much that Is favorable In mirntina. Whitn sesrecated statis tics en experts are net new available, It will preDBDiy evcniuniiy uc iktoii ikteii crcd that Germany was ngnln the lead- t lk. !... Attmttst AlAPiMl. fll though mnnv 'ether foreign cotintriesJthe immediate future. Hase.l upon rosy also took substantial lets from this money conditions, there are many dlvl- Menu mocks iiiut iihib. inj -u,-ni . -tlrnlnrlv some of the nreferred stocks I...I ,-.... ..... ....111... r.ll(,A k WIKIS13 ruiiiiiiuil ir-rMirn mi' r.-niiis, ...' LlCn. T ,ii, (PI., mn.biil iinltiinl Ite hnllffllt with the snme abandon as formerly, but discrimination should he exercised when tanking purchases, nntl tho.e with linndsetnc profits should begin tip tnkc them." TIIK THADEK. LONDON STOCK MARKET which have reflected a growing ten dency toward net only Investment In securities but speculation since that time. Bankers said there nre today prob ably ten operators, or traders, te one a few years age, and with the com paratively easy money that has been enjoyed, It is net difficult te under stand the wisen for the buying move ment that has gotten under way nnd which has been gaining momentum In each sticcccdlg session for several days past. .lust at the moment, the eyes of the flnnnclnl world are directed toward the Genea Conference. It Is felt In Government ever the next eighteen some of the lending bnnking quarters months or se has been obtained. country. Brokers' Opinions Newburcer. Hendersen & "The week's spectectilnr demonstration in the security markets surpassed In breath and volume anything experienced since the memorable war days. While there Is no denying the existence of a great bull market, which unquestionably Is discounting the alment phenemennl clinjige In both economic nnd fundn mentnl conditions, we feel the juncture is approaching where considerable dis cretion nnd discrimination should be ap plied in making further commitments. Ilecnuse of the evidence of tb pro nounced improvcnieiit In Industrial con ditions, some stocks In both the Indus trial and railroad divisions offer geed speculative opportunities en the long side, but ethers hove gene far enough te lustlfv delay before their purchase. Within the last two weeks the character of the market profession nnnenrs tn inrAul Tlilu vtnfiirnllv fnrnafinftntVH tr.M.. ....I!., ......... ,t.nA.it1 nml 1,lrvl,nr i..i. ' fe3n' ti.n.nn.1 Mnv continuation of very active nnd buoyant .Dellar descriptions were quiet and fen- ' jf";" J""- ft'SS3:aiii M?h". iSir! IiJrbe lllllirtl'in wiui iuu iiiijuiiiJiiii. Ifi ui.14- slenal hhakceuts of iiintcrinl preper- Heme Ralls Cheerful and Higher. Dealings in Oils Brisk Londen, April 10. lltislness in securities en the stock exchnnge con tinued te broaden today and the feel ing remained confident. Definite an nouncement wns looked for of tln re sumptien of fortnightly settlements nnd Jec centlntiltv, during May. ?,';; tillt-cdfied invcsiiiH-ni iui-m kvi-p ept. STEEL BOOKINGS INCREASE Corporation's Unfilled Orders March 31 Totaled 4,494,1,4$ Tena New Yerk, April 10. The inenthlr laiinagc report of the United Stain Steel Corporation made public today showed -l.4il4.14S tens of unfilled orders mi hiiiid March .'11. This Is nn increase fmm rrbrunry's tmfllled orders, whlai totaled 4,141, (KM). Cniiiparisens of iinfilletl tonnage en the 10th of inch month since 10KJ fol fel low : Menth of . . Tens Uenth f . T8IW Mrh.. 1022, 4,4UI,148Juty. 1I7,10,844,1II( in.'., s,i .i.'miii j-un. iHi i,i i,.T;i,-j 1022, 4.421.078 Mav 1017 11. use RIM 1021, 4.20S.414 Apr., 1021. 4.2RO.R42 Mch.. 11121 4.28fl,8i Keb., 1921 4, .100,1)70 Jan.. 1021. 4. .131. 030 Dec. 1021. 4,8311,354 Nev., 1021 R.I17 SflS Oct.. 11)21 5,482.447 Sept., 1P2I. R. SIR, 211 Auc. 1U21 0.2S4.7R July. 1021 n,li33.W17 June, 11)21. 7 R7:i.lfl4 May. 1020. 8,149,122 Anr. 11)20. 0.021. 41 Mrh . 1820. n,H3l,RS2 Feb., ID'.'O 1(J,.74S()I .ian lh. I Jan . Hep Nev.. ( )ct . Heik., Aua. I July. I June, I Mny. 1 Apr.. .fch., IVIi . Jan., 1017,12, 183, ft. 11)17. 11. 711.04 1III7.II.R70.88' e.i 28 i e last two weeks the character firln nl, Knlne(I fllrti10r Rr, ,. Au. 20. n.ROj .ins nee, rkct has changed from n highly yernblc tnlk about the budget nntl hopes . June. iniin'.ieVrtS.su Sept. al peel afTnlr to.ene In which for nn par)y rodtictleti In the Hnnk of May JJJ.2"-'"'"' '", e be a very large public In- Knglnnd's minimum rate of discount. $? inje. "IVmiSIe??. .TiinV Heme rails were cliecriui nntl uigner. pel... lHae. y.ymi.mi .May. Dellar descriptions were nillet nnd fea- ' l!1- '?" fiSMIJ Ai5t' ttireli-s. Argentine rails were strong n0v" ininl 7;T2s'3n Keb. JPJC" 1-215-5I1 in spots en a demand fro... Invester.. ' Oct j: i-iU-m ,".? Kj; HSJStfK r rencli leans showed n tendency te sag, Aiir.. inld. 0,1011.1)13 Nev., mi4, 3. 324,302 1017.11. 474.034 1III0.11.R47.28 Ii)in,ii,nns.n4i inin.lo.eiR.2M imn. n.R22..inl mm. n.nne.SRT inifl. 0.393,393 loin. n,n40.4Rn 1010. n,087,TSS 1110. 0.820.811 1010. n,331,0i 10m, h,.is,!)8 iniO 7.1)22,78 ini.1. 7,S0fl,22S 101.1. 7,180,487 IK 1.1, R S17,(11J mm. 4 nus.ins jni.1, 4,028,n4il In 1.1. 4,078,180 IS 15, 4,2(I41IIS mm. r,.. 17", oil 1(11 1. 4, Sll, ., 3,101,007 ll.. I.V. ll.n ..n..n 1.1.. nllx.flil ilfiiin. rer lih; iinuiuiii iuu ibhiuuu rrciifii imiiin mhji'ii a n-inn-m , vw uis. Aur.i nitntu IfwtW flin wnfcm u( nil. im the son wtU nnerntnrN untrtilnir TicWH from tlin lulv. national i'Im- In inevt of the IndustrlalH ' cennetnir confrrenrji at (ienen. ,""!' ,i,iD fit tlir. tltrtii Im.tifV tn linvn ft lifll if flnrittntru I . tlin ntl triilltl ll'Prn l.rlk. li.e mill. A.nnn.lUt'i .lulV. 1911. 4.1K8..'iRll discounted current possibilities. ! with sentiment . eptltnlstle. ' Iteynl Mch.. low. $$$ -1"; - S:ng:54 Sent.. 1014. 3.787.(1(17 lOUi, 4,2.2,310 AU.. 11,14. 4,-Jl.l,.-(31 inin, 4,; 11M4. 14. l.'n .... K.n nn ti;....!.'!. 108(4 10314 3000 irmeur 7. ' :..:iM 103 103 U.2 .; PIKJ. U....W w..-.; reuBn.. I8 .V If'SKfr? l"7et . 02U iSsi, 0?.. 0,HHKKP ANI) LAMRS - Receipts, 10.000 iB?SniM,h R 1 7, til ' 3.T If 2 102? 1024 heads. Lambs, nctlve; clipped lambs, 2.V "SnnrJn Pnc fl . . 1'"'i "i'i '"''i hlcher: cllPP.l lambs. $014.73: clipped ienn ivSt Ster Si ' . 102 101 102 5e.irlli..is. a(0)12 Rn. wool lamb-. 8ifJlii,R0: rnnn i-Tiv Serv 7s n IIS US It.'. weth.rs. Sn.ROWII). ewes. 2ffS..10' mixed laSn iv,iyrirAnh 8s ..42 42 12 W7.2.1. .-ewe. $2. 1. If. II. 2.1; bulls, $3..10f?.1; nnecp, t.ewn . ""'i -,".' "V " e- tiU n !iN rnnorerm rtnumite Tii.inj 1";,' JU' innnni'nna pii in ;.a .". z.-. .. " ;." .. - fil lani't ions i.n, ., ... -. - - ... - loenrubon Tel 7Ai .-n-' nr 11.-n. finoe Dere ft Ce 7,.li leni. I 7nnnnel Hudsen .1'Js.. its', e es'b 40nORmplrea R Os '24 n. n, n. 3 liTi nnnt n.Aml. Vi .1,.,..., ...,.,.. . ..., .., .,,,- ,nili innniieini co ,... !''; ? "? :"'if lonellershev Chec 7H.S.1O04 leni, loevi 13000 Heed Rubher 7... 00 N 0!) Oil 340OO Interbore Ss 82' 81 81' 20nOKans a Os lflV-s 103H 1084 nne Laclede Oas 7.s . . lis'l n.' OS', 7000 I.lbbv McNeill 7s . nn t n lin'i SOOOMarland 7'4 . . lin'i 00 OrtH 1000 Manitoba Tower 7. 0ai '11 tll'l 2000 Nat Acme 7',4s.... KO't nOS OCVi 7iloe Nut I.athr ss. ... n'H4 ti'i'i no(4 1000 N V N II & It 1s 82 s; s GOVERNMENT BONDS Pananm coupon 2s 1030 103't Panama rElslered 2s 1f3fl ...1034 Panama coupon 2s 1038 . . ,103U Panams. -eetBtcred 2s ;!I38.. ,103'i Panama i oupen 3s 1081 S3 ranemn reulstrd 3s 1001. . 83 Philippine 4s 1331 80; Philippine 4s inSR 80 Phlllpnlne 4s 11130 80, II S Clnvt. ciupin 2s lf)3n. ,03S V S Oevt. registered 2s 1030... 103 II S Oevt coupon 3s 1040... . 87 I' S Oevt rcKlstered 3s 1040. . 87 II S Oevt coupon 4s 1C2R. ...101 1T S Clevt registered 4s 102.1. 10R Dlst of Columbia 3.0.1s 1024.. PS Ask 10(1 10(5 that the result of. this assemblage will be of for mere Importance than Is gen erally realized at the moment. At that time, questions of the highest im port will be brought up for considera tion and adjudication. If the out come of this gathering Is ns favernblc ns some are Inclined te believe it will be, its importance, ns a stock market fncter, immediately becomes apparent. Therefore, it Is net surprising thnt market prices should new be discount ing this momentous event. Slngulnrly enough, no one In Wall street seems te be apprehensive ns te the outcome of the coal strike. 1'ntler ordinary conditions, n development of this character might be expected te have quite some influence ever security prices. The fact thnt little attention Is being paid te ir. however, Indicates thnt, net only Wall street, but the public nt large, is confident thnt ultl mntely the controversy between the opernters and men will be settled sntls sntls fncterlly 'nnd ndvantngeeusly te the rank and file. Mere Foreign Issues Coming There arc a number of foreign finan cial transactions which probably will be brought out in the American market during the current calendar year as negotiations nrc under way calling for such n result. It, however, would be premature te meke apy specific state ment as te just when such arrangements will be concluded and brought te a point that will permit einctai announcement. If the manner in which recently foreign government offerings have been abwirbed 1 may be nrcepted as a proper criterion, I It is likely thaf little difficulty will be History Repeating in Copper History hns once ngaln repeated it self in the copper market. N hen all Is said and done, It will be feuntl that the foreigners had been goad buyers en a declining market nnd caused a firmer tendency In prices, while domestic con sumers attempted te break prices fur ther by submitting bids tinder the mar ket. In the jinst, en all such move ments domestic consumers hnvc missed their mnrkct bernuse nf their nnxlety te get the copper as low as possible. Kcfnre the war Germany always took Inrirr. blocks of the metal in this ceun try when the users In the I'nitcd States, for one reason or onetiier, iiecnneu re II. F, Ilacliman & Ce.-"Tlm cotton :d ,Kr, , ami SmS id ,ft Ms! VTr Meh S3: 3.8a:535 market closes tar fifth consecutive week ! ,i&d,K .. $t- :: J; $:8?:S n which fluctuations remained within, . onMlens w,,re bri-hter. Hud-en's ' sent-. ii8 8.207 nei rice, ibis 4282.1m limits of approximately half a cent per J,','. ! "' ";. ' I,n-nlPr- Vam. vW ?.!;;",- "ft 3n"-T.T pound and will, business en n very "' ft knffirs ttrrr nnrrew. ,)llt Jj; S:SS?.SU4 liinV. k &&$ limited scale. J he week has been fea- h , Rubber r.. ''n!2' 0 010's JuTv is 3 Hm'n tured bv weakness In Mny. due te some I . u ,,,,. i.,-i,i M'b IJ's. n .e..n 10s ju v. is a. ...in.3..e ly Satuidnv nnd ICaster Dec Nev.. rt . S'"Pt.. AUK., llquldntlen by the fear thnt shipments Thl, Ste,,1 Kx.-hnngp will be 'rioted Jan."." may be made from tin; Mmtn ler tcntier r , VMn t Ul, in New erk. os the basis has declined I lenilny. Uliruxilllllli'l,v ill mini: ri-i-imin "in.!". such shipments can be mace nt 11 profit. p--u.' ni.i.nim, n,.. au . nnintn.1 ..nt in ,.iir letter of. Reserve Banks Discount Rates lnuf weeV tln.re nrn liberal stocks ef1 OITIelat rediscount rotes at the tneUe Fed desirable grades held at many uncounted "rRl '"", Interior towns, and such cotton, net finding a ready mnrkct from domestic l."",-,,,..', spinners, would be quick te seek an i'hiiadetphie. outlet through the New Yerk, Cotten Cleveland . rvnlmnifn oil llm lnnut lIiTIIu tT llllnll fl niwiuiini jAsJiiiiuatv nn 1 111 1 in 1 nM( i-'v.n (t mis, pii, ir 1!H mi 0 177. R3 Mnv, ti 31 7 in Apr s :c7 10(1 Mch 11.0011.873 Feb I) s33 477 Jan 1017.10 107,01') Ileserv llnnkS nn 1 reus itl ' ... 14 14 ns folle(S. Lib Cum'l HUrs bends piipT. nrcpt 44 I'J 4 4 Allan, a IS IS transaction proving piiitltnble. Distance chlcase i' 14 months have innterinlly letiuced their '"J",,, ' ' ; ' -,'' ;,4 discounts, and It wen d net be nt nil , ;nn.n', cuv .' '.. h :, 44 4 44 '7 44 44 r I. J. v ' New Istu $3,000,000 New Yerk State Railways First Consolidated Mortgage Geld Bends AVz Bends with 2 Extra Coupens Bearing 6V2 Interest Dated November 1, 1912 Due November 1, 1562 Interest payable May 1 and November 1 in New Yerk. City without deduction for Nermal Federal Income Tax up te 2. Denomination $1,000. Coupon and fully registered bends, interchangeable. Security Trust Company of Rochester, Trustee. Issuance authorized by Public Service Commission of the State of New Yerk Net callable until November 1, 1941. Callable en November 1. 1941, or en any Interest payment date thereafter at 105 and interest. Previous issues of the First Consolidated 4's are already listed en the New Yerk Stock Exchange and application will be made te list this issue of 6JjS. The following information is furnisktd by Mr. J. F. Hamilton, the President of the Cempany: The New Yerk State Railways owns or controls, and operates extensive street railway and inter urban electric lines, aggregating 595 miles of track, serving a long established and highly developed agricultural and manufacturing section of New Yerk State, including the cities of Rochester, Syracuse and Utica. It also owns a half interest in the stock of the Schenectady Railway Company and operates that property jointly with the Delaware & Hudsen Ce. .Earnings for year ended February 28, 1922 Grets Earnings $11,039,728 Operating Expenses, Taxes, Rentals, etc 8,320,469 Net Earning! available for Bend Interest $ 2,719,259 Annual Bend Interest (including annual interest en $3,000,000 Bends presently te be issued) 1,314,350 Surplus after Bend Interest available for depreciation, dividends, etc. ....,....,. .$ 1,404,909 Net earnings ever twice bend interest The population contributory te the lines of the Company is conservatively estimated at 1,000,000. The New Yerk Central Railroad Company owns ever 68c of the Common Stock of this Company, and the Company enjoys excellent management. We have been identified with the financing of this Company and a predecessor for ever twenty years. A recent examination and appraisal by our own engineer shows the value of all the Company's properties te be very largely in excess of its total funded debt, including this issue. We recommend these bends for investment Price en application Yielding about 6 if held until maturity Bends are offered for delivery when, a and if issued and received by us and subject te approval of counsel as te all legal details of authorization and issue. It is antici pated that temporary Bends will be available for delivery en or about April 14th. Complete circular en request Harris. Ferbes & Company Pine Street, Cerner William, New Yerk . Wldener Building. Philadelphia Harris, Ferbes & Company Incorporated Boiten Harris, Ferbes & Company Limited ' Montreal Harris Trust and Savings Bank Bend Depirtmtat Chicago New Issue $13,000,000 Crry of Rie De Janeiro (FEDERAL DISTRICT OF THE UNITED STATES OF BRAZIL) Twenty-Five Year 8 External Secured Sinking Fund Geld Bends Guaranteed Principal, Interest and Sinking Fund by the FEDERAL GOVERNMENT OF THE UNITED STATES OF BRAZIL Dated April 1,1922 Interest payable April 1 and October I in New Yerk at the office erf Blair & Ce., fiscal agents of the lean. Due April 1,1947 Principal and interest payable in U.S Geld, free of all Brasihan taxes. Coupon Bends in the denominatien: of $1,000 and $506 Uet redeemable, except as a whole en any interest date from April 1, 1924 te April K191I inclusive at 11C and interest, redeemable thereafter in whole or in part en any Interest date at 105 and interest. PURPOSE: These new bends are te be issued te refund the External SeriaiDellar Lear. cf 1919, the balance of the proceeds of this issue te be available for the purchase and cancellation of internal leans. SECURITY: These bends are te be the direct obligation of the Cfftv of Ric de lancirc (Federal District of United States of Brazil They are te be specifically secured (upon re- f the demptien .of the above mentioned External Serial Dellar Lean of 1919) by deposit e 7,500,000 principal amount of 4' , Bends of 1912 which, together-with 2.500,000 of th same issue, constitute a charge en the Impestc Predial (Heuse Property Taxi, the largest and most important source of revenue of the City. The receipts from this tax !or the last three years arc officially reported as follews: 1919 18,688,660 Milreis 1920 19,629,202 Milreis 1921 22 6f8,00C Milreis The above amounts converted at the average rates of exchange 1er the respective years, after deducting prier charges, similarly computed at the average vates of exchange, average approximately $2,100,000 per annum available for the security of the new tean. The receipts from the Imposte Predial for 1922 are officially estimated at 26.000,000 Milreis, :r about 15 mere than in 1921. GUARANTY: These bends will have as further security the unconditional guaranty as te principal, interest and sinking fund by the Federal Government of the United States of Brazil. SINKING FUND: The Lean Contract, is te provide for the payment te the fiscal agents of a sinking fund semi-annually, commencing October 1, 1931. each semi-annual payment te be sufficient te purchase or redeem 1 '32 of the total isfnie at net exceeding 105 and interest. All moneys thus paid te the fiscal agents are te beiapphed te the purchase of the bends at net exceeding 105 and interest, and if net se obtainable within the period set by the Lean Contract are te be used te redeem Bends at 105 and ituercst en the next interest date. DEBT: The total funded debt of the City (including that te he retired by the proceeds of this issue), reported as of January 2, 1922. amounted te approximately $68,525,000, figured at the current ra.tes of exchange. This is divided as te currencies into $22,000 000 7,273,180 and 107,585,000 Milreis. GENERAL: The City of Rie de Janeiro is the Federal capitsJ of the United States of Brazil With a population estimated at about 1,200,000, it ranks as the largest city of Brazii and the second largest city in Seuth America. The estimated value of the property which serves as the basis for collection of the Imposte Predial, figured at the par of exchange, amounts te approximately $895,000,000, All efferinss are made "when, as and if" issued and received by us and subject te the appreva, of our counsel Interim Rec-ict- ni Temporary Bends will be deliverable in tfie first instance Price 103 and Interest City of Rie de Janiero 6 External Serial Geld Bends of 1919 $10,000,000 new outstanding) with all unmatured coupons attached, will be accepted at par and accrued interest, in payment or in exchange for Bends of thi issue deliverable en confirmed allotments. This privilege ia subject te withdrawal at any time. Blair & Ce., Inc. J. & W. Seligman & Ce. White, Weld & Ce. E. H. Rollins & Sens Halsey, Stuart & Ce., Inc. Cassatt & Ce. The Union Trust Company, Cleveland Illinois Trust & Savings Bank. Continental & Commercial Trust & Chicago Savings Bank, Chicago Mercantile Securities Ce., San Francisce Bank of Italy, San Frincisce First Securities Ce., Les Angeles Fer purpein of calculation the current rate or the milrni taken at ljt centi; the current rate of the nnunrt .t.-ri,n. .. i .v. at ii 44 cent.. nd the average of the milre.a for U 'three yeaV, 9H : 1921 at app?e".m.!e" ? cenu P'r "' "" m,,,eM The (tatementi presented above are baieri en information from official or ether sources which we briirv. m r.. ..i,.t.i. ..... .u u. The W.,ewt .. b..ed ,! en c.b.r advut. and neceuanly ,bj", w "irrecuen un r'e'ce'pt'el'fMui JSVmSl W U.IT" V lHl.1. 0.324.22 1'IIH. UTi.TlrJ inn, 7.4ns,!ifm 1III.1, 7 R.-.lt.TM ivi:j. 7.6:;.sm Liverpool Cotten IJferjxinl. Alirll 10 Them his a boeI il.Cisn fur sr'it cotton teilay hut only a tltU tiuslness uhs den en thf basis et 1U nn nfUanc of .. r"lntn fp inliMlinir t 414 lO.flOrl. Th slj re 10. lien bales Th 4i, rejslpls r .inoe bales, of which (110 bal .". w ir American Future wer riulet In ths t ij no,Tl uallnirs Spot prices werp American. 41., njldrtlln- fMr 11 n.'.d, keI mldilllnic. m.ii-,d: 414 fnll middling in.n.VI, middling. lfi.,-.fi(, low- 5 middling, n will, Keud erdlnarj, X.fl.'.d. and ,i ordinary 4T,d Wi. 50 w ft H &-' m Vtf. m: ii & ii ,M J& :3 is ! .S si itl I A 9 hi b 'J 'A- . :-s 4' 1 fr Wait N, -.Wu u2ist,i2i! A& . "R v aiaW,.-
Significant historical Pennsylvania newspapers