davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-31
Stock Market
Undisturbcd by
20 p. C.. Money
General List Dull With a
Few Industrial Specialties
Active: Heavy u. S. With
drawals Expected Mon.

Some Of The motor and equipment
sharply at times but the stock market
as a whole drifted along in the same
stolid fashion it has displayed for
several weeks. Developments of con-
siderable Importance failed to stir the
market into anything even family re-
sembling activity. Twenty per cent
call money had only a negative in
cuence serving merely to further re-
drcc an already limited volume of
trading.
The market opened in a way which
gave promise of somewhat greater ac-
tivity, but interest soon centered on
the groups mentioned, and there after
the rest Of the list was perfectly ne
elected. Price movements were highly
Irregular, with stocks of the same gen
eral character moving in opposite di-
rections. In the steel group, for ex-
ample, Bethlehem 3 was unchanged at
the end Of the day. in spite Of the
favorable annual report, and United
States Steel was off more than half q
point. whereas Republic, Crucible and
some of the others scored substantial
gains. The explanation for this diver
gence probably was that much of the
purchasing yesterday was for short
account. and this ocntcred on those
stocks which were most easily moved
upward and in which, therefore. the
short interest presumably was largest.
Apparently, some pro 'essioua operators $
who believe in higher prices are treat
ing the shorts in much the same way
rs the shorts treated them during the
recent decline, the trading" tactics
this time being on the constructive
side. There were indications that large
operators were working through the
list to discover the issues which had
been most heavily oversold, and, having
found by this sounding process the
ones which gave signs of technical
strength, drives against the shorts
were promptly started, with not lit
tie success in some cases.
The statement by Secretary Glass.
n which the governments position In
the matter Of providing foreign credits
was clearly outlined. coupled with the
extremely pessimistic cables from Lon
don. had depressing influence on
sentiment, but surprisingly little direct
effect on the markets. Exchange
dropped a little. but not more than on
other recent occasions, while the stock
market vas rot affected at al so far
IS could be told. Put, while the imme-
nate effects we're rot important
,ar as STOCK prices were concerned,
brokers saw in the Glass and NC
kenna statements another obstacle in
the way Of a renewal of speculation on
large scale. They pointed out that
without government support it would
be difficult. if not impossible to pro-
vide the credits necessary for the
naintenancc OF our export trade.
The jumn in call money to 20 per
cent was explained by the fact that the
banks we're preparing to meet un-
usually large government withdrawals
on Monday. which caused some of them
TO call in loans on large scale. This
brought about mrch shifting CT loans.
There was not much call for new loans
except as caused by the shifting pro
cess.
Trading in Liberty bonds was heavy.
with prices working lower.
New-York tribune., 1920-01-31
China Seeking Loan
From i'oar-power Group
Negotiations for Advance OF
$500 GO Are Under
Wa

The Four Power Group. consisting
Of American. British, French and Jap
anese interests has opened negotia-
>iors vi.h .hn po'-irc f-ovo~rrnrN. i'm
China for s. 100000 sterling emer-
gercv loan it was authortatively
learned in The financial district yes
1eraa This loan VIII CT it is ex-
pected vi result in pubic Offering
Of ecuri les VIII probably be secured
hy the Chinese sal mononoly, and the
proceeds Of he 'oan will he used. il
was indicated mainly TO make up back
pav to Chinese soldiers expedite de
Mo'iization and, IL is hoped. bring
s1out peaceful relations between the
government Of the north and that of
ire south
THIS loan, IT is said. is not nearly
1arre enough 20 meet China's financial
needs but IS characterized as merely
4 hcgirnNg If succr ssful, experts
VIII be sent 20 China 10 estimate the
oountrys precise financial needs. One
. HI terns Of ihe prooosed loan j.,
ihr' the lcrding coun ric- he per
mitted to send representatives TO
China TO make her collection of rev
eDre more scientific and efficient.
Ihe matter Of a Chinese loan has
been held up for many months. because
of reported uuwil'in~ness Of the Jan.
nncsc 20 have Mongolia and Manchuria
considered as part Of China for pur.
poses OF the loan Although this mat.
ter rs SIN under negotiation, the fac,
nat the consortiGm has begun 10 funr
Non was inc fprcted as meaning tha
asfeement vas near.
New-York tribune., 1920-01-31
Goodrich Rubber


Failure Of Goodrich Rubber common
stock to keep up with the forward
procession CT the general run of motor
and tire shares is due in measure 70
the belief that the company has ander
consideration plans calling for new
hnanclng. A director OF the company
would not discuss the matter ves5er-
day The financial district bears. now
ever, mat Goodrich may come into The
market for between $l0,O0O.00O to ST.
100000 While there is some talk thar
addltlonai preferred stock might be
ISSUED, the story yesterday was TINT
notes would probably be sold Goodrich
tai to keep up with the rapid expansion
OF business. From sales of s55.00o ooo
IN 1915 the company's bu mess has
expanded 10 approximately s142 .000.-
600 in 1919 ,9vv,
New-York tribune., 1920-01-31
New York Air Rrake

The New York Air Brake stock made
no response to the announcement yes
terday that the company has ust
closed an order for 1000 air brake
equipments with a large Western rail
road. Lately the company has not been
doing much in the way of business in
brakes Tor the reason that the orders
nave been few and far between. But
the management has followed policy
OF gong ahead with manufacturing
brake equipment and at present has a
large stock on hand to meet anticipated
demand. An officer of the company
recently estimated the value of the
stock of equipment on hand at $500 :
GEO to $3.ooo,000 Air Brakes annual
report VIII be ready for the stock
holders before long. The showing will
compare rather unfavorably with the
last year or two, it is understood. No
figures have been made available vet
as to the profits of the company from
ITS contracts with the United States
government.
New-York tribune., 1920-01-31
Information Wanted


Magazine writer's AMI others haze
for years been trying to demonstrate
what they believed to be the truth
that is, that the game Of pure specu-
lation in securities is unbeatable But
every little whole some one comes
along with a new system that Ne be-
lieves will turn the trick and beat the
bank. Others think the "bis IN
terests" have the combination that
enables them to speculate success
fully. A Stock Exchange house re-
celved letter from a man yesterday
who apparently is seeking to get in
touch with the insiders SO as to play
the game right. kindly send me- ne
writes to the firm, "all the intorma-
ton regarding the buying Of stocks
and the selling of stocks. Also all the
proceedings one must go through TO
make it a paying proposition!"
New-York tribune., 1920-01-31
Morse TO Head Association
OF Stock Exchanoe Firms

The name of Charles A. Morse. Of
Clark, Childs & Co., has been nre-
sented for president of the association
OF stock Exchange Grms by The
nominating committee for the annual
election to be held at the Hotel Van
derbllt on February 6. at $50 y N
others whose names have been sug-
gested for Offices at the eioc ion age
Ar'hur Myles, of Moore & Schlev. for
c'c9, :, e. ,pfes'dent: and Jules S. Bache. Of J +.
S. Bache & Co., for treasurer .
Nominations for governors 70 serve
three years are Robert A Drvsda,s
Andrew J. Miller, Charles A. Otis and
'" W. Peake. The nominating com
mittee consists of Edward Shearson
Moreau Delano, Louis c. Clark -
William c. lvison and Frazer Gibson
New-York tribune., 1920-01-31
In Wall Street
Baldwin Runs Wild

Certain houses in Wall Street which
claimed to have positive information
yesterday to the effect that a satisfac-
tory compromise with regard to rail
road legislation by Congress is close
at hand advised their clients to buy n
railway equipments. the theory being
that the clearing up of the railroad
control muddle viii be followed by 8
revival of railroad equipment buying
One of these firms, ii Is understood,
played an active part in the days mar
ket in Baldwin Locomotive which
literally ran wild in the afternoon.
rising roughshod over 20 per cent
money and everything. bringing Up at
l2ls4 at the top of the day. TIE move
started at 1863 around midday. A.
companied by widespread reports that
the stockholders Of Baldwin are
on the books for melon in .he form
of 100 per cent stock dividend. Brokers
on the floor. however. VINO observed
the character of the market in Bald
win said it had all the ear marks Of
a drive againt the bear. The annual
meeting Of Baldwin stockholders
is scheduled to be held the first week
in March.
New-York tribune., 1920-01-31
Ohio Cites Stockholders
Approve Stock Increase

AZ special meeting Of the Ohio
cites Gas Company the plan to in
rIesse ne authorized preferred stock
20 so 100000 was approved by "a uel
cent o. tAe preferred and common
tiocEro'dere Present d rcctors sub
qaen'ly met and declared the req
lar qoartcriy dividend OF 81 a share
on the common stock. payable March +
2" stockholders O. record Februarv -
CoHsicefab.e disc ission was given
~ the meeting relative to chanping
10 name Of the company to ono nor
," keeping with lis oil business Tbo
emp"ny nrw retsils more than 10
go 600 gallons Of Oh ycarly and nboD,
- yer cent OF rs earn ugs are dcrjyed
rom its oii business. 1T was .pye.tea
nat the uAme Of the Pure OF Cn,,1
any, one Of the Subsidiaries. be adon.-
"a ana IN view % sentiment favorin,,
tne chenge thc matter viii bc tatrs
- at the next meeting OF stockholder.
a full report Il the recent deal in
'olvine cortro! Of the Oklahoma Pro.
oae.ng and Refining Comp4ny wax
-s3e ""S
New-York tribune., 1920-01-31
Inland steel Earned SrO.21
A Share on Capital Stock

For the year ended December 81
sls, the Inland Steel Company re
Drned net proNt>, after charges and
ederai ta<es, Of Sy.O,5,li3, equivalent
- 2z0.2s share, par value 500
'arned on inc g. 0la.1 100 capital stock
which compares "ltn yZJGo snare In
tie preceding year
After rescrYc far all taxes had beer
taken care Of net earnings last ycar
'ere sg,6%o,lfG, against $l4,573,5l2 in
1tI,. After depfec atom. c.c. OF 81.
H1s,052 and bond iAtcrcst Of S140,93
balance appilcab.e for diy.dends waz
= 5D11,ll3. Hoidefs Of the etocl
shared dividends amounting 10 SZ.0yI.
Leo. leaving II $5,0oa,5o3 surplus.
New-York tribune., 1920-01-31
Financial Items

i+loer'y National Bank has hcor
,r'n,rd ,r reg istr.r for ire capral s,nc,, Ap
'''G = w ara ara l." France Truck corporat,oin OF
Z. Sherwood. formerly associated ,.,.s
49,, 'i...' IT, bialle. hn- b rl .1'' - -
'"' ie'trA of the EoreiEn Trad, l,'.t.,'l u
' Po'"'l"''' succeeding w r. Law mn =
r.eton buncc has been elected ,,,,u
20 pss'%.peht OF the Equitable Trust Cos,ra,v
,a..,,Ii,. hrnest smith & Co. have organized os
pa''"'eht TO deal in foreign sccuritias NC
L. Schnefer has been elected ,,ra.,
n'nt or w r. Grace & Co.'s BANK ANA ~
bouVler was appointed trst VIC nroaiGor, W
~ lfI"Hari and f. G Fischer waro .,.
e'"ct"a vice presidents and f - Hendr',i1o
SON so,, .nsh'rT. v x + G. Benk:ser. q. s Ma
son son and W Nileo ming were appointed aa-
officer. e'''c' trust
T. Hum phr"y. secretary and treasurer
y. ~. mon l'ohn nnl Cattle Company or
NcNada and secretary and treasurer of
~ ,n, mon Wool 'oinpany of Boston. has
been elected vice president of the Old coz
ohy Trust Company e Boston
'harles g NJ Thomas. treasurer. has
p''h hppointcd vice president OF tn
V9nsolidatcd c. Gas Company. and benjamin
W hlteIY. assistant treasurer has b.on
u''Ne treasurer. Horny Nj Brun,lorc ho.
n''n 'l"'l"d secr"tary to succeed Rohrrt
A Carter 'N'oo'' l
New-York tribune., 1920-01-31
Looking for Dividend Decision

There is q strong belief in Stock
Exchange circles that the decision in
the stock dividend case will be handed
down by the highest court in the land
on Monday or the decision day follow
ing. This has led some houses to tell
customers it would be good thing
to have on hand stock in companies
which are IN position to cut big
melons. The list is long. for a great
many corporations have piled up huge
surpluses in the last four years. Such
additions to assets are almost certain
70 be capitalized, and if The Supreme
Court holds that stock dividends are
non-taxable the stockholders will likely
receive large Disbursements in stocks.
New-York tribune., 1920-01-31
A Bull Argument

Commission house traders were quick
to selze upon the announcement Of 10
per cent advance in wages granted to
employees by the United States Steel
Corporation as big bull card Their
argument was that the action of the
corporation indicated belief on the
part of the controlling interests that
the business on hand and in prospect
is indicative of sustained prosperitv
and that the present is no time to
heg'n to liqu date labor It was
pointed out, that if the outlook in
dlcated any severe depression in the
immediate future the Steel Corpora
tlon would certainly not mark up
wages at this time
New-York tribune., 1920-01-31
| I"ited Retail Corporation
Acquires GiImer Stores

'llmer's' Incorporated, recently in
cofporated for 500 100000 under the
,A"s OF Delaware. has been purchased
by the United Retail Stores Cor,oro
''on' for which it will conduct the
'h"'n of cash and carry" department
stores controlled by that organization.
ne main office OF Gilmers. Incor-
pofa'ed, will remain in Winston
o"lem' \. c. New York Offices are main.
u ~, ~ AT l270 Broadway.
me entire personnel Of the COM
p = W. oe retained by the United.
II tan stores Corporation and present
e, e,mployees VIII be trained to enabIe
'nen to assume management Of ~
zoo, frono ''9nal la' stores which viii be opened
New-York tribune., 1920-01-31
knowledge vs.. Opinion

A well known Wall Street man, who
has opinions Of his own and doesn't
mince words in stating them. WAS
stopped by friend in New Street yes
terday. What are YOU inquired ne
friend, "a bull or bear?" 'Tm
neither" was the quick retort. "A
bear thinks the market is going down.
know it is" Incidentally it might be
stated that this Wall Street man has
built up a good sized fortune through
speculative operations during the past
wear or two
New-York tribune., 1920-01-31
bid and Asked

,,, BID As-ed Bid. Askca
Az. + a Ne'e ga ~ Lac ode Gas q. ii %
H 4 ! A. ..~.e W. 10 Iul.
r = = ...s 81 Z = NJ r 4as ~ a5s 5s''
go ii lur -yy l.yrlArd l. LOO 40
A. I: pr = e.. Z .:.+ ::5.5:a ,'s:. z 'l =
Aa lleo prlai 1862 .'i,iia .i,iat Si1r. Si &, 50
-' Ill VI l., si1S NJ ri pr 26 -
-.. SslA lr''s ilD NIX Re. D. 100 ii,5
-' Ir .u ,iN Central s..
r. pr -A'sFN ii i q
e's' ,..f rs" ar q. 10"
p' - .l Na.. O. chad I5, tx
o. D. -ls 10
'.'.' !. i'e ie- VA IN 4 ; Sl Sil.
i" It,. v l9o l'@ Lead pr los iOy
4-. a. ,.. = . W" :" ~ q Il II IN is y
.r - 80 > { * ) l. :, -
~ ls sN no 80 lst lr.. IS 20
= '.- 100 30 y "T ia,t Z" pr & ~ z z
81. ,.a 50 ~ g. >:'.': %" s. pr ]. j.. =
-.a ia g 1"s's K H;t. :s9s ;1s 50 50
o. o.. ID l55 agS i3S1 raciac uG 'F co.., ~ 100
~ ~ t' so 81 pr i,
,,, ~ n2 4e Tel " + 40 III
''u ..- "a ~ j. ,m lr. rr l1t 200
N'. o Nis'" Ieilu SeaD. ... 5.+s 3S
,."' - ... aa - ii'e'ila ~ T. /. ii
~ 80 i''is Mar pr II 90
'!t.FA Pouc pr 5at, 50 j. g { \ i l. 10 So
&" ~ 80 'frtN Null. S5 43
III " q ~ - Go lat lr 100
f ~ l95 'ieirc Ar pr lo- l07
l. - - ma Goa. pr gl 9.
=. 40 + y l-2h loI
wan o.. p' ll'ls Slcel pr * o.
~ vr .-lp~ iDi T. d W Va pr ~ 7gA.
! pf Is i'r ~ car pr ln9l, loS
* ls' u 5ols - j. s X
T - N iV ~ Spr pr 1864 lOr
'p.t LIS Co., Is sO l. A : nr 1IiA "ti4
''tH i'-od p, lOl lOi = /, sw -. ~ ~
Cuba Am Sg 40 40 do or - .;
90 - lpi lO7 S-ab ~ -.
pr.re 90 pr TOO lpG t, i,r
< Hlt o5ts r5 S.ars Roo o,' o'
.tI. a. Il ~ IS.- ! 4 nr ~ o.
i.'i idi1a. lO1 Iii - u II sum, 90 ,gn
iHfap-i f llI do llr ~ III
i'r. ~ nH lnl 'Hinnatri N,l Ia -
4 A ~ d. pr WIN ~ ~, a.
10 Hon cry Glis ~ f. ii =, y, loa ,oa "o t"s
eIi.ipr. pr Hri. II rol a l. 4 " ,"
rea 81 r ii III. 40 40 ~ ~" ''' 10 10 IL
u' I" aa d. ctfs pr. 10 2s
do pr 100 Ipe Iudcrwnn p ~. ,oo,,
Cen chcm ..ls3 lp5 do mr. Ia ,,,,"a
New-York tribune., 1920-01-31
lnietboro Reports IcGc;l

Gross earnings of The l,terb,ro
Rapid TRANSIT Comp ny aor 10 conh'.
oun'ed to AfoN 2G-. AN increase Of
SsS6'O4 over the corresponding Derio ;
oi the preceding year After taxes.
.tc, had beeN dcdse.ed uct .,.,s s4..,5 ,
'go, an Increase OF S56S.n2Z Deacit
after charges, exclusive Of accrua $
"Ader provisions OF contracts ana ro-
'ated certificates, which under these
agreements with the city are payable
rem future earnings, was S22.I7o. Il
the last SIX months Of 1919 wors
S24,200.226. an increase of S.2l70s7
over the same months OF l9IS. Af,cr
charges, etc, had been taken care Of
deficit for the period was sl,s20.36e'
decline Of $50 7G5.
New-York tribune., 1920-01-31
Transur & Williams Earned
S..3o q share on Stock In 10

Net profits. after Federal taxes. Of
the Transue & Williams Steel Forging
Corporation for the year ended Dcccm-
Der 81. 1919 were S735.9SS, equivalent
to s7.35 share earned on the 100000
shares outstanding stock, no par.
comnarcd with $514,601. or S514 share
in 1918.
Gross sales last year amounted to
So as4,777. an increase of $6a6i77 over
the preceding year. After expenses.
etc total net VS. s9S5,9ss an increase
Of $l9S,3ST. Federal tax payments az
%1egatcd $2500oo. leaving balance
arrllcable for dividends Of $T35 9S3 or
$-2l,3S more than in the year before
New-York tribune., 1920-01-31
Ihe Dollar in Foreign EXCHANGE

TRs decline OF rates on London
Paris and Rome continued yesterday,
and lire and French francs fell 10 a
new low record. Belgian francs,
which, to tho amazement of exchanre
bankers have been quoted lower than
French francs for week. ,cstcrdav
overlook French francs on a sharp
rally, caused by reports from Montreal
that Relgium would Get a loan in that
country The premium of New York
funds in Montreal yesterday reached
y per cent. new high record caused
par " by the decline in sterling and
party by the heightened demand in
Montreal for drafts on New York.
Yestcrda 8 rates. compared with
thoAe q Mnnk u.ro foIlnw.
New-York tribune., 1920-01-31
feae Ie Statement
Helps Oil Stocks
On Csll.Ip Marke,
Failure 10 Refer to Salt
Water III Homer Field l.
Construed as BuIlisll:
asussian Bonds Stronger

Stocks on the curb displaves q ha.
ter tone as a rule yestel day. althonvh
the price movement was somewhat ir.
regular and without definite tra,d
OILS were tirmer as general THING
the whole group apparently bejnr
helped by the optimistic Statement
issued by W. C. Teagle, of the stand.
ard Oh Company of New Jersey. O..
Oil conditions.
Referring 70 the Homer fields in
LOUISIANA. the head of the Standard o,
New Jersey made no comment upoD
the recent reports that salt water has
been found there. This was construed
as bullish. Shares OF companies oper-
ating in that field were hrmer, and
moderate recoverjes took place in Gil.
liland, Simms and White Oil. Garth
Syndicate was slightly higher. Much
Of the huying in this stock lately Il,
was reported on the curb, has been
Of "the best kind" despite the recen.
break in Carib from above so. Devel-
opment of the company's property is
going ahead rapidly.
The curb heard rather circunstar
tal report yesterday that the long
drawn out litigation between the Isl
and Oh and Transport and the old
Metropolitan Petroleum Company Is
close to settlement out of court. The
S ory heard is that the Island OIL In
forests have turned over to the Met
ropolitan interests 100000 shares Of
Island Oil stock. The Metropolitan
already owns 100000 shares. An add
tion Of that amount would give tbs
Metropolitan 500 600 shares of Island
Oil, worth SO 100000 at present market
prices. Attorneys for the Island OIL
would not comment on the reports yes
terday excepting to say that the Gaze
"is not settled Stocks of both com
panies were quiet.
Russian government bonds were
stronger the 5las selling at nsw
high tor the movement o. SO.
1t was reported on the outside mar
ket that q membership or the curn
market indoors had changed hands at
$1,000
New-York tribune., 1920-01-31
Dock Go. Resumes ni, 'deud

Directors Of the Great Lakes Dredre
and Dock Company have declared II
quarterly dividend of , per cent. pay
able February 10 to stockholders Of
record FebrunrF 0. Tho last dividend
pad on the stock was declared over
.wo and one half years apo
New-York tribune., 1920-01-31
General Gas and Electric Rcpor,

In the year ended October 81 last
the subsidiary and affiliated comnanjes
OF the General Gas and Electric Com
pany had combined operating revenues
or SS,837.512 gain of more than
> ''oo2.ooo over the previous wear.
Vperat'ng income in the same period
was s2'oia 'V'', gain of over S76G 900
showing that nearly 20 per cent of the
increased revenue was conserved for
income.
New-York tribune., 1920-01-31
What DO You Think of the Market?n

The president of one of the largest
national banks in the country: From
the way the market acts in the face of
high money rates, it must be in strong
hands"
New-York tribune., 1920-01-31
BIZ Aslnd 1

Gen Cigar pr - 100 90 pr III ~ 'Sn,' "a
Granby M.. * % | UsIs lst ,,r 40 Kin
Greene Cop - - do "a Or ls0
U Il NJ" FL Ny itycst. !. ~
d, pr - tSprvs .eis 81
: ISL pr s-s >. '4l | 4! pr. To- To-
Honest ake 50 .j irtall Sec Corn ~ In
INT liar r..lll'a lis Vulcan Detln ., 1s
lut Paper 80 lOt do NJ * q2
Int Nickel pr 81 n0i. IN aba.h or II liA IL
Iowa Ceiitral 4 Wcs, Md "a pr l6 ~
Je"'' Tea Is lsisl A'ltt Pic. y ~
DO pr ..... 4las - do pr 49, 81 50
hMsor .,.l ITO l2o Ne~t'sc Vt lst 81 g.
fSNN pr 5- 81 Wilson Co pr. a5
kau City So. liis is INh X l. + pr rs l4i
10 pr ..... A. 3. l,tii.Ss Cur SNrx 20
Koly Spr pr 92 lOO WIS ,'rn,ral 70
Kelsey WI pr. o6i4 s1as lWoulworth pr ll2ls III
keok K ID NJ ~ i14lNP x N or A o.
In cigar st $50 2a5 10 pr E 73 10
New-York tribune., 1920-01-31
Money and Credit

he Stock Exchange money strin-
gency became more acute yesterday,
and the opening and re. ewal rate of
- per cent for calle!moncy, with one
execution, .,1 was TIE highest this year.
there was a continued strong demand
Ter oans ell through the stock market
session. and by 2 o'c'o the rate had
adNanced to 20 per cent. Ssortly be-
core the c'ose the supply Of funds
increased slightly and the rate dropped
20 Il per cent
Bankers attribute t,e current scare
Nv cf money for stock market pur-
noses to expected Withdrawals of gov
emment funds on Monday Of aporoxt-
Hately $4,000 600, pay yincn-s due Mon
certificates and in lesser degree to
he February l interest and dividend
disbursements
Reports Tat the functions Of the
so-callcd bankers money committee
ad been revived 20 alleviate the call
money situation were not credited in
responsible e banking quarters Accord
* to the report published late yes
.'rdav in tie financial district. this
18th no restrictions on the call money
ate
The ruling rates for money yester-
day. compared with year ago, were
IS follows
Ycster- Year
0al' money: dav 400
On m xed co o'lateral... 12 AZ
On industrial collateral ~
tlmc money (miXed col
latcraN.
sixtv days........... 767H 505H
ninety N"Ns. Ia - bO'5 ~
Four mon ths......... ia tx 5G5h
Hank Clearngs - Bank cleaEings in
New Cork and other cities yesterday
we're:
EXCHANGES balances
'New Yc-k. .....s7s5 6'O726 s67.G COO 66s
baltimore ...... 1851 22o 6 600 342
os'on ....'.... - S51 $40 1G OO5 OCT
l'etrolt ........ IA 575.dA9 d aS5 222
FnNafo'nhla 13 l62 GG9 Ii $50, sos
Sub-Trcasury- United Statcs Fedora,
Reserve credit balance, s6o138 49,.
Silver London 84rhd; New York,
Sl.34's; Mexican dollars, sl.O3ls.
New-York tribune., 1920-01-31

n ne no annual convention OF tho National
,h'''H ,'I, Ky Goo \ s'r't iyn VIII -,.
h"id at the Hotel Pcnnsylvanin on ren-
,uary IL. ~ and 90. \ smoker wlll H.,
~ nm,n on inc night of February IL ana the
'"nun, banquet on the night or February
~, me association now numbers aDout
l.1oo members throughout tho country