The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-07-10
WALL STREET GOSSIP
$50 100000 Indicates Ready Money
Money for New Investment.
New York, Liberty bonds closed

money Tor New Investment
New York, Liberty bonds closed:
3fss '..,.,.,.'.,...... VI. -
Flrst Ahs .......,......... A6 80
second 4As ...t..,.,..... bO,1i
First 4lgS ................. SO 80
Sccond pss .......,....... S5.74
ihiru 4hs ...s.'''.s...... oy'1i
Fourth iAs ............... So So
Nlcory 3AB .......,......... $3.50
] NlCtOry AAls ..s...........t. 20 81
NEW YORK, July 9.-The offer
ing Of Armour q cos issue Of s60.-
900, Ien-yoar per cent con
convertible notes were all sold AT
moon and the books closed. The en-
tire issue was largely over-subsribcd
at 19ASa to yield rs per cent.
The strength In rails is due to the
belief that the interstate commerce
commission will render decision
on rates soon. The opinion Is ad
Nanccd In some quarturs that the
decision will be Forthcoming within
the next few days.
Houston OIL. which was admitted
to listing on the stock exchange ten
days ago. sold up for . total of z5
points Friday, the highest point
since IT was admitted to trading.
Fridays best figure, however. was
n points below the high reached on
the curb last year.
Harris Winthrop & Co--1hc
stock market has mad a good ad-
vance and We look FOR some profit
taking for the weekend. We are
not bcarish, but believe II stocks
have a slight setback It would l.,
well to buy for higher level
The stock market is held in well
Informed quarters to be discounting
the expected railroad rate increase.
Reading is being strongly bought.
southern hallway Is reported In line
for higher prices. Pool channels are
bulling equipments, sugars, oils
shirpng and copper spccialties.
President Seger of the l.. 5. Rub
bcr company, after an inspection
trip OF New England. Canada and
central states. says that he found
practically every Industrial plant
ovcrsold, and will endeavor to speed
up production.
The chairmen of i6 railroad
unions are TO meet In Chicago July
10 TO consider railroad labor boards
award. which is expected about
July 20.
Stock Options.
! Clark, Childs Co.-Purchares Of
steels. equipments, dividend paying
| oil stocks and well financed rails
| looks like a pretty safe policy.
Harris. Einthrop & Cove look
for a further advance in prices and
favor purchases on any reaction.
Josephthal e Cove believe
! that present accumulations while
prices are still attractively low. are
highly desirable.
Traders who have been buying
Mexican oil stocks lately have been
/ given to understand that state
ment covering results OF new drill
| ing operations will be given out be-
fore the end of July.
Final June figures on shipments
of Island oil e. Transportation cor
| poration show l,0S5.sSl barrels
! moved during the month. Thus far
An July five tank steamers have
been loaded with a total OF 3os ,3ll
barrels.
Wall Street Journal
Consolidated earnings ae running at
an annual rate much nearer si0,-
/ 10000 before taxes and deprecia-
! tion than s30.00O.0O0 which was re-
| Gently estimated. The earnings,
while large. do not reflect to any
extent expenditures of something
| like 100000, 900 in the last year out
OF earnings and the sale of common
stock. nor approximately $4,000
! 900 realized from the sale of l-2
| per cent notes. When present re-
| fineries are brought up to pipe line
| capacity, Sinclair, with oil condi-
| ,ions favorable. should have an
earning power of $4,000, 900 annu-
/ ally. Estimated earnings of S56,-
| 100000 this year would compare
with $21,S90,s9s in 1919: Sl9,64O,-
| III in 1918 and sl5,l34,967 In 1917.
Sew York The Imperial OIL cor
| poration, affiliated with Middle
| States Oil and controlled by the
same interest, has been granted a
charter under the laws of Delaware,
with authorized capital stock Of
| $40, 100000 common and 100000
/ 900 preferred stock. both of par
value $40. The preferred is cumu-
| lative at the rate OF s per cent be-
ginning next September. The Inn
/ perial now has under ownership or
contract approximately 800 acres
in Oklahoma. Texas. Kentucky and
/ Indiana. with aggregate daily pro-
| duction OF $500 barrels.
New York.--The Peters oil COM
/ pany, a subsidiary OF Middle States
| oil, has completed II wells on its
1 lease in the Usage, with average
| production OF 10 barrels. at a
/ depth of $50 feet.