davidaulloa/AmericanStories huggingface dataset:
The Southern herald., 1920-10-22

A CONCURRENT RE OLUTION, to|
amend section 231 the cOnstitu
ton of the state of N ssissippi SO a
to provide for the election OF leVea
commissioners and t. fix their term
of office.
Resolved by the les stature Of the
state of Mississippi ty j-thirds Of ths
House Of Representa- YES and the
Senate agreeing there ,:
That the following amendment to
tthe constitution of tn state Of Mis-
sissippi be submitted > the qualified
electors at an election to be held on
the first Tuesday after the first Mon
day in November, Al, 1920, viz:
Amend section 231 ST the consutu
ton of the state of Nj sissippi 50 that
it will read as follows
Section 231. The le ee commission
ers. except the comm s5ioner for the
Louisville, New Orle rs and Texas
Railroad Company, no the Yazoo and
Mississippi Valley Ra r0ad Co, shall
be elected by the qua led electors Of
the respective count IS or part O..
counties from which they may be
chosen, The term Of Of ice Of said con
missfoners shall be our years and
they shall be selected in the mlnnG
pres ribed by law But nothing n
this ection shall req ne the appoint
men. Of a commission for the Louis.
Vile New Orleans 4 Texas Rail
road Company, now the YazoO and
Mississippi Valley Ra road Company
except in the discre on Of the gov
ernor, as provided
Passed by House OF Representatives
first reading Feb. 9, 920
Passed by House 0. Representatives
second reading, Feb. %. 1920.
Passed by House o. Representatives
third reading. Feb. l., 1920.
Passed by Senate first reading
Mar 10, 1920.
Passed by Senate second reading
Mar. IL, 1929
Passed byIssnate third reading
Mar. is, 1920.
A CONCURRENT TaSOLgTION t.
amend section 241 the sta con
stitution so as to tend Ike sue
frage to male and female inhabi
tants of the state OF Mississippi
To Provide Equal Suffrage; constitu
tional Amendment.
De it resolved by tie legislature oI
the state of MississiT ii, two-thirds o
each House agreeing hereto, that the
following amendment the state cor
stitutlon be submitted o the qualified
electors OF the state ratification oi
rejection at an election to be held OF
the first Tuesday aft the first Mon
day in November, 1870, viz:
Amend section 241 of the constitu
tion so that it will re d as follows.
SECTION 241. Ev ry inhabitant o
this state, male or female, excep
idiots, insane persons and Indians no
taxed, who is a citizen of the United
states. twenty.one ars old and I'd
The Southern herald., 1920-10-22

( pEe-eata, !Fe,5 Jan. ~ I3-o.
'assei hlEu fs"d'' IL ~ rouse u
SspT nlalIfe5, Jan. -. .3-',
Eassed lirst TeaaIAG IA senate iep'
b. I9ZV.
Passed second reading n senate
seO. D. i9Zg. -,
Passed thiTd reading III senate fe0'
), 1920
amend section 2i5 Of lhe state con
sti.ution so as TO impose a Uniform
poll tax upon NE male ana .rhdIe
inhabitants OF the state ol M!ssis'
slppi'
=. ,-.,tl. g, r,ifo.r, al, 4.v. 90,
ttutIonaI amendment.
BE II resolved by the legislature oi
the STATE oil MISSISSIPPI J"o.I't'id7 oI
eaeh house agreeing lheh@lo' 'Aal me
toIo"lhs amendment 10 Ine sIa1e Con.
81 lutlon De submitted 70 ne qu4IIiIHo
at an election to be held on
the first Tuesday after the first Mon.
day in November 1920 viz:
Amend section 2i3 Of the cohstlto-
ION so that 1t VIII read as follows;
erorI,>- o,o ,,nisau., AN .,,
IN IN. u''''D' I - PD'i Ia
VI ,"| 'o''.''' 1an.|i, ~ o,,5 w. w. ,.,
.',.''',''' ',r2D.' 49,; "',- 'o ~, 80
t'oti4on. ~ ,l,j. -a,pI ,ata ,,aIn y. ra,,,aIo
80 1.t,,,o - +ho '',@ aaa - 49, - a,J
styt- g-r" gaors rBo eycon+ nersonr o ,rbo % ara
5roS | 80 J,,-oh lI0I dn ,ifnd LO ~ r,bo % ar,
r,oin,ad rp Nv ~ - bo-d ~ foot. eaid
tax to be lien only upon taxable prop
ty. The board OF supervisors Of any
county may for the purpose Of adm
he common schools in tha county
increase the poll tax in said coan
but in no case shall the entire poll
tax exceed in any one year three dol.
lars on each poll NO criminal pro
ceedings shall be allowed to enforce
the collection Of the poll tax
Passed 1st reading in House Of Rep,
resentatiyes Jan. r. 1920.
Passed Ind reading IN House OF Rep,
fesentariyes Jan. 2S, 1920.
Passed ord reading in House Of Rep,
resentatiyes Jan. %, 1920.
2assed lst reading in Senate, Feb.
4, 1920.
Passed 2nd reading in Senate, Feb
,, 1920
Passed 3rd reading in Senate Feb,
b, l92O.
A CONCr-pPENT RFcOr TrT1ON n
amend srCtion 27o Of tbe sfatn con.
etitntion win rnfararca 4o nnneions
of Confederota eo1diars and eoi1ors
and widove of sucb eoldiare and
The Southern herald., 1920-10-22

in packages of 20 protected by
special moisture proof wrapper
Mleo ~ soundAIR-TIGHT tins Of SO,
New-York tribune., 1920-05-15
COTTONS-Conuerters'
En nperIence Varies

Market experience of converters
very greatly at present. Many of them
repor- cancellation, while others assert
that business is going ahead, The lat
ter are in the minority, however, and
apparently are using intensified sales
manship to dispose Of goods to buyers
who are resisting the market strongly.
One prominent converter who was
trimming ship month or two ago in
anticipation OF the buying slump, is
now purchasing goods. rushing them
through the print works and leacher-
les and placing them in storage in New
York. He figures that goods will be in
better demand in another month or
more and that the railroad congestion
will be more acute. In case his predic-
.ion comes true he will have more
goods on hand to meet the renewed de-
mand than most of his competitors.
Throughout the marke. 1t is believed
that the Is per cent wage increase
granted to the cotton mill workers will
be absorbed out Of the profits and not
passed on in the form of higher prices.
In the primary goods field a few Of the
mills are making slight concessions for
future contracts, while spot goods from
second hand holders are easing appre-
ciably. 1t is reported that 64G0 3Si2-
inch print. cloths have changed hands
at 20 cents, and that July and August
contracts for this and other standard
constructions have been sold at the
same price
New-York tribune., 1920-05-15
yEWELRf-Premiums offered
For America,, Wntcl,es

Demand for american made watcbo,
still continues FAR in advance OF IN.
available supply or current rate mr..
duction, according to wholesale iewei
ers, many OF whom ADM. they ave-
Offering other dealers premiums ~
from 10 20 - per cent on he eos,
price. for watches which they reesirs
in current shipments from the factor-
les. One of the large Wholesale ,ew
elers yesterday showed orders frr
watches which he said woula reou;rs
more than a year to fiji a. the rate bs
is able 20 obtain goods from she far
tories or otner dealers.
The suppl Of SWISS watches is te.
coming easier and om- wholesalers rs.
sert that surplus - in sight. ina
demand for Swiss watches is said 70 bs
far less pressing ttan trat Tor ina
American made time pieces o. the high.
est type. Throughout the trade il ia
felt that the quality Of the Swiss
watches in general has deteriorated
Clocks cont;n Ie to be CARGO. with tie
demand from both the domestic and
export trade strong
New-York tribune., 1920-05-15
Seeks q Little Excitement

Question: have about $1,000 in the
savings banks and about $4,000 in COM
mercial bank Would like to invest the
$1,000 in safe stocks with maximum
return of interest. Would also like to in
vest the 1000 in speculative stock What
would you recommend?-- H. y.
Answer-You may obtain very high
returns on investments at present with
reaonable afety, but in trying to get
the maximum keep in mind always the
higher the yield the greater the risk
as rule. We believe among the safest
stocks at present are such seasoned
issues as United States Steel preferred.
American Tobacco preferred. American
Car and Foundry preferred, Central
Leather preferred and United States
Rubber preferred. These stocks yield
from 6'4 to over per cent. In ex-
pressing a desire to invest $4,000 in
speculative stock. you simply mean. of
course, that you wish to speculate with
that sum. We do not advise against
speculation, provided one can afford
to lose, but we do not give speculative
advice. Your choice Of a took for
this purpose would be just &C good
aS ours,
New-York tribune., 1920-05-15

II further buying interest, at 2ohc cost
and freight. with limited offerings OF fun
duty sugars at the equivalent of 2lc cost
and freight for Cubas.
Refined sugar was still reported in
urgent demand throughout the country.
The Federal was said to- be offering
limitod quantity of granulated for de-
livery July August at 2gc. subject to the
arrival OF raws.
Coffee Futures Yesterdays market
opened quiet. unchanged, to an advance OF
J. point. and trading was uninportant
throughout tho morning session. operators
being IN the dark as to conditions in the
primary markets owing to the holiday
there and no official cables being received
by the Exchange. Early in the afternoon
private advices reached the trade reporting
Rio unchanged but with a. friner tendency,
ana this started trade covering which
caused sharp upward turn July selling
TO 1870, September to 14.Scc ana Decenl,
Der to 1472c. closing at about the best Of
the day. or 20 to 23 poipts net higher
some or the demand s1pplcd by offer
inYs from opera tors who bought lower a
rev days ago and saw ,an opportunity to
tuke moderate profits.
About the only cost and freight offers
were santos 4s, August October shipment,
~ 21c; Santos IS and As. prompt shipment,
at ~ &c. and Rio rs. prompt, at 1S4c; ali
sterling credit. The local spot market WAS
quiet again at unchanged prices
The range OF prices follows:
New-York tribune., 1920-05-15
Various Short Term Issues

Question: would appreciate your opin-
ion regarding the short term notes OF the
American Tobacco Company I per cent
due In 1922: American Telephone and Tele-
graph Company per cent. due in 1922,
and Bethlehem steel G per cent due in
1922 Also the United Kingdom bonds
S'a per cent. due in 1922. Would you rec
ommend them as investments for one of
moderate circumstances?-G II. C.
Answer-The American Tobacco Com
pany per cent notes 1922 are en-
titled to very good rating The COM
pany's earnings are large and are said
to be increasing. American Telephone
per cent (not per cent? 1929 are a
fairly good investment The company
has increased it's funded debt consider
ably. When these notes mature it is quite
possible that they will be refunded.
Bethlehem Steel Z per cent (not 6 per
cent? 1922 are entitled to a good rat
ing. The United Kingdom 512 per cent
1922 are in our opinion an attractive
investment We believe Great Britain
will be able to solve her problems sat
isfactorily.
New-York tribune., 1920-05-15
Reserve Board v i'll Aid Banks
To Handle " inter Wheat

WASHINGTON, May Il. To enable
bankers of the Middle West to aid the
winter wheat crop movement, the Feds
eral Reserve Board plans to transfer
soon large amount Of reserve funds
from Eastern banks to those in the
grain producing districts. Governor
Harding to-day informed Representa-
tive Tincher. Republican. Kansas.
Representative Tincher said many
complaints had come to him from bank
ers and farmer in the Middle West that
they would be unable to place loans on
crops because funds that might be used
for this purpose were tied up with last
years crop, much of which cannot be
moved because of the transportation
situation.
New-York tribune., 1920-05-15
Buyers Arrived
Fairchild Service

Violin, auto goods: Fennsylvana
ATHENS, Cab zenner Co: p. R.
clothing. furnishing goods hats: 1o5
Grand Street
1sALTlMORE-Phillips Bros & Co; II. D..
Phillips. domestics. dress goods. blankets.
prints singhams, white goods: Pennsyl-
vana.
BALT!MORE-Roscn Brothers: p. Ro-
senthal, dry goods, notiona. furnishings i,
Wcst Twenty ninth Street.
BALTIMO sE-T.. Blum. dry goods and
clothing Herald Square.
BIRMINGHAM, Ala.--Fuller, G. A, ready
to wear; The Annex
CHATTANOOGA.-Miller Brothers Com
fIS Of East G Fl r'.tf FfSaf stfeet wear
CHICAGO-Philipsbor Miss NJ. Nugent,
ladies' misses, juniors skirts. dresses
ladies'. misses. juniors coats salts for
fall; 9l2 Broadway; eleventh floor.
CHICAGO-Carlson, e, furniture; Gre
CHICAGO-Davis Brothers: w. II. Davis.
clothing. furnishings, hats: Marlborough.
CHICAGO-J. Meyer. dry goods: Pennsyl-
vania.
CHICAGO-E. Schwartz woolens and
talors' trimmings; Pennsylvania.
CHICAGO-B. Kolber. furniture; Cont
mental.
C1SCINNATI-Alms & OoepiSe; H. A. Red
CLENELASD--Ots Company; l. T. Fon-
taine. interior decorations. drapcries
CII,vEIAND--Phillips Henley; R. Phil
lns ,.t r, fn,nishing g goods; pennsyyania "a
lailincry; 62l Broadway.
GAINESVILLE. .Ga.-G. p. Estes general
mdse. Herald Square
LOIISvILLE-Schus Dry Goods Com
pany: s. G. Schus,er. belts. neckwear.
tics. gloves shirts, underwear; Prince
xEw s'S"r5f r55fRIEAxs-Marks-1saacs Company;
J.. Lemle millinery and trimmings: care
Of 1850 Broadway.
oGpE%sh!.RG; ;Ss n. Y'-E: Franks Sons
walipa per general merchandise: A East
Twenty-third Street.
OBSERVATION-DISCLOSURES & Poliner; W.
Wiener. mnfrs OF mems and children s
clothing: Grand.
I'HILApEr.PHIA-J. W. Smith. jewelry
PHIG.ADEI.PHIA-Sam Frank. mfr OF
cloth cans: Brcslin
rlTTsnyRGH-w: f. Griffish.s Co: W. E.
disc. rafrs. clothing: The Annex
PlTTSBURGH Kaufman e. Bacr; II.
Mitchell mons, boys furnishinss' 4o4
s.ore: Miss T. / Mccreery. skirts; 1851
pITTspiRGH-nos Co.; Mrs. b.
Abel-. nilhcry; p. W. Hamilton. shoes
lIs west Thir'y-sceond street.
@ Gonton bo2z ciotnins ei9 t:{h Ax1. a.
rRoVlDENcE. r. I-Be-se Rocker Co;
.
Murray I'm.
READING, Pa.--Glasscr Hosiery CO.; E.
Giasser. hosier:. knit goods; Fennsyi-
Tania.
SAN FRANCISCO Diamond Cloak and
Sui' Mfg. Co.; l. A. Siivrrstrin, mfrs.
e.oaks. suits; Pennsylvania
81 I.pllS-.. Hager. M.sns furnishings;
s. PAi'l-rinch. Van siyci: & McCon-
y.iio; $ II. Finch, prints wash goods
ST PAJT--Finch Van SIvct & NcCon.
Vile. r. H Finch. dress goods. $40
broadway
SYRACUSE y. Y.-Dey Bros 4 Co: J.
W. Caring, silks, velve;s. 30 Fifth
Avenue.
TAMPA. Fla.-aiass Bros. Inc. Isaac
Maas, millinery. general manager: 1880
broadway: Barr e. Lirsnthal.
NICKSBCRG, Mtss.-Charles Lust berg.
general nldse.: Aberdeen.
NGTON-Solomon Sachs, furniture
York.
WHEELING. w. Na.-Hicks & Hoge D. G..
Co. a. II. Robertson. dry goods. notions
Cont mental.
WORCESTER. Mass.--Israel, Friedman &
prucker, Morris Drucker cotton piece
goods. Bresin,
New-York tribune., 1920-05-15
SILKS--Manutactur
RESISTING Cancellations

Large producers Of six goods are
resisting cancellations OF orders by
buyers and some assert that they are
ready to carry their contracts into
court to enforce acceptance Of delivery.
Cancellations are strongest Oh goods
for fall, orders for which were booked
as early as February. Buyers also are
attempting to cancel orders for spring
goods which have not yet been deiv-
cred. The attitude of the legitimate
manufacturer regarding cancellations
is that he delivered goods on order
during the upward price tendency. when
increasing costs cut into profits, and
that the buyer should be willing to
shoulder some of the burden now that
the market has turned. Letters to this
effect have been written in reply TO
requests for cancellations
New-York tribune., 1920-05-15
Commodities
Continued from pase fourteen

placed here for shipment we'll into the new
CROP Transportston e1nditions ,nn,na inter
grain firms were inclined to be cautious. as
there was nothing in the news to cause any
anywhere near normal for some time to
come. Shipments from the Argcntn" for
the week were oyer II 900, 900 bushels, is,
Argentine surplus Will be exhausted. AUS
tralia has apparently no wheat to offer
and little can be expected from India.
This leaves America the only source OF
supply unless stocks in Rusaia arc liotr-
nted and this featnr" is considered too
news was moro favorable from the winter
wheat belt and private estimates on the
Kansas crop were placed at looe,' 900 t
last government estimate of 95,75o.O0o.
Corn-Thc market developed pronounced
strength. and prices regained Thursdays
high record. Transportation conditions
failed to improve as much as had been
anticipated and the active export demand
for wheat caused renewed buying. with
shorts again anxious TO cover: Tho move
ment at Western points failed to show
Improvement. and the trade was fearful
lest the efforts on the part of tho rail-
roads to move grain to the terminal mar
kets will meet with only moderate sue
spite the fact that Chicago is command
ing high premiums over the outside mar
kets, which should divert corn to that
unable TO furnish cars in sufficient VOL
ume to make any noticeable impression
on the volume of arrivals
Yesterdays Previous Year
New York close. close ago.
Corn No. yellow s2.3l.4 s2.241a $685.
ChcaRo:
Jug. july H.. ~ i255s l95 i ids 1:as,. :
Oats--The market was firm and higher
in sympathy with corn, although the ad-
vAnces attracted considerable selling
"nich resulted in n partial reaction at the
close. Cash markets were firm and re-
ceipts continued small. The local cash
market was nominal. owing to the lack
quoted at s1.47 to sl.4S.
~su vor, Yesterdays Previous Year
No white 81. l.47@l.4s s1iS 5 70 ~ '4sia
thicago:
May .......... 1.O6 1o4ls 6s..
July .:;,,,. .s27s .alSs SIS.
Yesterdays Previous Year
No. Western. $3.50 2.54is .l.sl
Flour and Neutrality-suspicious. were:
Yesterdays Previous Year
% patsi475 1tf f'NS' 1875 s%Sf 7s@15 sog aso
C'meai 4:75@ 4.o7la AS 4.o7,. 4.oo444 Is
R.hour ll.75 q 1885 ll.75 Ml2.35 900M96O
Bran. 6400 $500 46. 90
Cottonseed OF,
The market borrowed strength from the
grain list and. while the demand was not
particularly active, offers were small and
prices showed net gains for the day of +
to II points. Operations were Of only mod
crate volume and total sales for tho ao,.
were 5000 barrels.
The range Of prices follows:
New-York tribune., 1920-05-15
Bonds

Power LIST 5s...
Cine inn4ti GoS &. Irinc LIZ l0SG
New-York tribune., 1920-05-15
Ray Consolidated Earnings
Slight Decrease Owe. Previous
Quarter Shown =. 3 Months

Ray Consolidated Copper Company
reports net operating profit for the
first three months Of the ear. before
Federal taxes. of $637.@0o. equivalent tu
40 cents a share earned on the Sl5.77l.-
100 capital stock $40 par value. This
compares with a net profit of s64 22s,
or II cents 4 share. in the previous
quarter.
There was no change il the opera
ting schedule for the quarter he re-
port says. "and production was con-
tinued a half capacity. Botn mine and
mill have been kept in good repair, so
that operations can be resumed at full
capacity when conditions warrant"
New-York tribune., 1920-05-15
r. r. GoOdrich-Pierce Oil

Question--Will you kindly tell me IL in
your opinion the preferred stock Of B. r.
GOODRICH which pays per cent, is a good
investment? Pierce OH preferred at Z per
cent seems goods an Investment, but
YOUR ideas about stocks are so sensible
would like your opinion. H. l.. Y.
Answer-The earnings of the B. F..
Goodrich Company have been very sat
isfactory for the last six years. The
preferred dividend has been earned
many times over. We regard the stock
as a very fair investment. For the
year 1919 earnings of the Pierce Oil
Corporation, after deduction Of pre-
ferred dividends, were equivalent to
$2.45 a share on the common. This
showing entities the preferred stock
to a fair rating as an investment.
New-York tribune., 1920-05-15
LEATHER-E.rport Trade
In Shoes Sill Good

Seventy fairly large export orders
within the last two months are cited BY
one shoe manufacturer as proof that
the export market in shoes is far from
dead. The orders came from the Ori-
ent. the Balkan states. South America
and the countries in Europe that were
not engaged in the war. Norway alone
booked orders for 5000 pairs of shoes,
mostly Ior women.
Other shoe manufacturers repor
small export orders from South Amer.
dca particularly. One order for chill
dren's shoes was placed recently BY
large wholesale house IN Lima, Peru.
The shoes were Of the "kack" type for
small spring, and instead of the pre-
vailing snring heel or heelless type
used in this country were made with
small straight heels. Most of the or
ders coming from South America are
said to call for black footwear with
liberal sprinkling of patent feathers.
New-York tribune., 1920-05-15
A Good Group of Railroads

Question--Would you consider thc fol-
lowing stocks a reasOnabl safe invest
ment and do you think they will be able
to continue present dividend rate: Norfolk
e. Western common. Louisville & Nash
vile common, Union Pacific common,
Southern Pacific comrnon.-P. j. S.
Answer-We do not regard railroad
common stocks are good investments
because they are too sensitive to earn
ing power, which at the present time
is matter of considerable speculation.
Only one of the roads you mention has
managed to earn more than the
amount Of government compensation
Union Pacific. The others are all good
roads, however, and therefore we be-
lieve they will manage to maintain
themselves.
New-York tribune., 1920-05-15
National City Bank Will
Redeeu, Argentine Bonds

The National City Bank, acting for
the Argentine government, will redeem
to-day s25,O00,0oO and 95.00o,Ooo ster'1
ling of Argentine bonds, which were is'
sued five years ago The Argentine
government announced that 1t had re-
gained credits in London with which "a
meet the maturing obligation.
New-York tribune., 1920-05-15
BRITISH-AMERICAN
TOBACCO COMPANY, LIMITED
A Al RICKApns

A. NJ. RICHARDS. Secretary.
Dated 14th May. 1920
Westminster House, Millbank Lon
don. S. w /.
~ B,-The shares of the Garland Steam
snip Corporation unless held by citizens
or the United states do not carry any vot-
ing rights until peace has been established
between the United States and the bellig-
srent nations
New-York tribune., 1920-05-15
Investment
Information

Questions Of general interest to
Investors sciil b ancwered in this
column, IN sohsch case only initials
tosu % "se0. Others piil be an.
sWered by mail. Address all ia-
qu'ries, inctesino stamped. ad.
dressec em"slope. to Financial Editor.
zhe Tyibuas. I54 Nassau Street. Ne.s
York City.
New-York tribune., 1920-05-15
Open. High. Low.
Sugar and Coffee
Current
prices

current Year
c,,,. ~ -, p,icrs ago
:, go - u, ~. i9tz " " 90
Conee' Rio' no. l5!2 lsA
""n' ->o' > - +s " W.%- Is .22h
>ugar-The market for raw sugar con-
now established at 2l.67c Operator.
bought 1000 bags Cubas, May shipment
az 2oc cost and freight, and 10. 900 bags
Cubas. May loading. al 20c T. o. b. and
10000 bags Cubas. half June Shipment
at 2oHc T. o. b.. This business was fol-
lowed by sales of $4,000 bags Cubas. June
moderate quantity of Cuba, May ship
tnent at the same price, both to local re-
nners. AT the close Of the day there was
New-York tribune., 1920-05-15
A. T. and T. Collateral Bonds

Ouestion-Kindly give me your opinion
on the American Telephone and Telegraph
Sodiaterai per cent. They mature in
~. and according to my calculation their
aFerase Yield at the present price ofs75
Is about "a per cent. II. NJ.
Answer-Amcrican Telephone colat-
eral per cent bonds due July, 1929,
are we'll secured by collateral. They
have declined in price because the in
vestment market has had to conform
to present high money rates. The yield
at T5 is 7.95 per cent.
New-York tribune., 1920-05-15

Another large jobber Of silks h..
entered the price cutting fray by send.
ing ort tslegrams to customers an.
list price of the entire stock bo,I
New-York tribune., 1920-05-15
Bankers Not Supporting Market

Question: am an investor in the stock
of H. r. Mallinson Co. Inc, which stock
both preferred and common. was issued
last October and recently listed on the
New York Stock Exchange. The preferred
was put out at the issue price of 98la
1t is now quoted rs bid and so asked.
Is there any known reason for this de-
cline. and II there is reason Is it Gus
tomary for the issuing bankers not to give
some support to stock which they have
recently recommended as an invest
ment Miss I w. a.
Answer-The preferred stock of H.
R. Mallinson & Co. Inc. was foated
at time when the investment market
was on considerably higher level.
Since then all forms of investments,
including Liberty bonds, have fallen
in price. The preferred stock of the
Mallinson company has had to conform
to present conditions. We are informed
that earnings are good In situation
such as now exists the bankers proba-
bly, feel that it would be better for
securities to run their course than for
them to attempt to maintain an un-
natural market.