davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-11-30
Investing. or Speculating@

Question: have about $1,000 10 invest
IN some security which might b. spoc,-
ialVe. what Is your opinion Of Lac1a-
Vienna Steel? What would you recon
Answer-The Lackawarna Steel Com
pany is one Of the many industrials
which made huge profits ont os The
war. From low Of Is in 1915 the
common stock rose to d hirh of lO7st
in 1919. It, dividend record is corre-
spondingly Irregular Things have
changed now. and this company, like
the others, must rcadjpsr itself to
!owcr prices and peace conditions. How
the matter VIII work ont we do not
know. Your statement that Won wish
10 invest your 81 900 in sometime
that might prove speculative involves
contradiction in terms and confusion
New-York tribune., 1920-11-30
Brown Shoe Earnings
Equal S4.64 a Share

The Brown Shoe Company reports
net profits. after charges and Federal
taxes, for the year ended October 81
were $362,1 Transferring to this
account the reserve Of 100000 previ-
ously provided for f1uctuation of prices
made surplus available for dividends
OF S762, 151. equivalent, after allowing
TOR preferred dividends, to $4.64 a
sFare on SS 800 900 common stock. com
pared with S1,508, ,074, or Sl9.48 a share
or S6,3OO.00O common stock the pre-
ot ding year.
Net sales totaled s37,3o7 1926. com
pared with $3l. l.690.8l4. Deficit after
preferred and common dividends have
been paid amounted TO $S7,737, as
1diNst q sUrplus Of SSG1.59S
New-York tribune., 1920-11-30
v heeling s, Lake Erie Asks
Formulation 10 Issue BOndt

WASHINGTON, Nov. D.-The
Wheeling {; Lake Eric Railroad asked
the Interstate Commerce Commission
today for authority 20 issve notes fol
1850 600 to purchase 1000 steel gon-
dolas, 1000 steel box cars and other
eq lpment.
The Carolina, ClinchAeld {: Ohio
Railroad asked permission TO Issue
fifteen year G per cent cumulative il
come debentures totaling $1,000 coo to
"ay short term YES.
New-York tribune., 1920-11-30
Cables Earnings Large

Question-WiM you kindly SEND mo you.
opinion on the capital stock OF the All
America Gable Eprplratio1 as N irVtsi-
mcut proposition :--H t. y G.
Answer-lhe An-America Cables,
formerly the Central 6, South Ameri-
can Telegraph Company, paying per
cont on its s22555.2j0 capitalization,
has been 4 successful corporation for
many years. Act earnings since 1908
nave been. ia each year, ample to Ply
dividends and leave q substantial sur.
plus The net for 1919 was the large 9
in the company history. showing
$g.98O.713. Dividends amounted to
Sl21S.534. We reg ii the stock as .
GOOD investment Tor The business man.
New-York tribune., 1920-11-30

We regard the bonds as entitled to q
very good rating. There is good
market in the issue. United States
Rubber preferred stock. paying 8 per
cent, is very fair investment issue.
in our opinion. The company has
shown good earning power FOR many
years, ample TO care for preferred
dividends and leave substantial
margin.
New-York tribune., 1920-11-30

AsEregating 7.4oo barrels. early in tho
session prices moved W about one half
cent y pound owing 10 small offers ard Z
fair demand from commission house
prompted by the strength IN gram and ,n
I ne provision list. There We're tsnders OF
th'se were readily absorbed Toward the
c.oSe there was q partial reaction. due to
me action Of tho grain list and final
IS points.
Tho rang of prices follows:
New-York tribune., 1920-11-30

Of thought that makes an answer I'M
possible We do not advise about
speculation. If you wish to invest put
your money into some OF the invest
nlent preferred stocks and bonds which
we frequently mention. When money
and credit conditions return to normal
you should realize an appreciation Of
princ'pal which may satisfy your
speculative appetite.
New-York tribune., 1920-11-30
Took Fricnds Advice, Now Seeks Ours

Took Friend's Advice. Now Seeks Ours
2ae, .,on--1 sa9 .c4c~-,,.5 /. 5vpg Nlssouri
-tt Railroad ha' ns q record seer. on
n. advice of f'se.t. boush' 800 shares
aas aro,,sl To 20 y hat L guur sdvifce--
- 4oi and take 81 lres or hold fo~ an ad-
Iaie. A.so .vestcd tew thousands n
N"o.- oil and d, lining. Lesli' Oil ,Nsu-
ri'r s-.ngfr. prestionl,. Kindly gtve me
soi.t .n.ern~tisN .ess-ding these coni-
udrieS.--G =.
Ansae9-It must be apparent 20
eVe.y oue who has given the matter
any Thought that the railroad aitua-
.ioa l. b5 10 means settled We have
heard from various sources low the
rcads viii ea,n large amounts. Great
lnG the impression among many pror.,
that dividends vii. be paid III short
order on most Of these issues which
have pad nothing for some time past.
We must rAaliye that the new legls3a-
ton IS get TO be tried. 1t has ONLY
reen u feet since September /, ard
II ls our opinion that directors viii be
YER careful about paving dividends
On those issues which have been non
dividend payers. The Missouri Pa
cihc preferred stock is 5 per cent
cnnniatlve SINCE June 80. 1918. III
other words. there is about 1913 per
cent accrued on the issue. Bear in
mind that, while the railroads ob
tanned rate increases, there was $50,
al the same time, q wage increase.
Besides this, practically every road
reeds new equipment. For these rea-
sons we do not agree with the oDln-
ioHs expressed by so many to the
elect that wholesale dividend dec
laratlons are imminent. Your stock.
therefore. is speculative, owing TO
eh.s uncertainty. The Tribune does
not attempt TO advise upon speculative
m@''ers. We are unable to obtaiG~anv
independent information on your oil
stocks.
New-York tribune., 1920-11-30
Easier Tone Prerniis
tn Ruo Sugar Market

LufJ 'Nt Y "a.
prices 3HO
Sugar. E-anuiatnd 81
Coffee. No. Z Rio. ........ "a t5th
Coffee, Santos. No 7....12es Q9l2's 26i3
An easier tone prevailed in the mar
ket for raw yesterday and offerings
could have been obtained at slight re-
ccssions, it was believed, but rcfners
little interest. Business wes
dull, rejecting the light demand for
granulatcd. Prices for refined held
steady however. Futures were easics
most Of the day, final prices being 8
20 10 points net lower.
The range Of prices:
New-York tribune., 1920-11-30
ore.rn GcYt ard Municipal Bonds
NntereAt 30 Be AddodI

iil. Ask 81.
'.fr ~ i.ar.r ...... fba4
u' '.4f.st.aHii. ......... Hs'1 80
1lg.a a'lue irteiA o-. lHt5...... 71ts -
Sling -. 2, -N ts. lA2l.. 9H9s 100
......, ,......... sltt ~
DO Z txa it't..... ........ 97i4 gs
C.a-...-... -.o4... i.uu Of, g., 1911. ~ 81 =
al pores. 4t-J- .............. 9s'4 - u
i'' .......... '0 . 81
dv - .-...... ..,........ o.. Hl - - =.
NY .......... autz hV
Cniu. Cott Hu 4Iue iy 5a 10. t-ls
o- 10y t..... AZ = ~
d. 5a series a, l9t9....-... ~
M 4-si ...... ......... 81 ~.
il,t..a.'au Ns.4ol3c ss }pas r. ,a4
.tt' a.. .5uila Jr-yr oa, 3t.... iyi4 ~.
-5ai,. ii4ri I,-.r vs.. 1884,. 5N.s 81.
..4Is4.Ht4. 10 -. bs, iH}t.. 49,
-n. .i.lsr,.. 3.u 1.-,J s1f 44 - 7I<
nsf fs1Vf .r 4ot icsi. $1,000 lUus
.,N.4 Re ,is, W. 49-1 wv
IN.
Jprar' ae Coz. tis4 ttI ,j., -t., 4i.. - -
Do 49,. sfr Ia. lfsI..... t,., j.,
.',I i.1.6s ir.-.tE s.se. ia-4. ..
c1 otze. -...-.... -s S.
on 49, 81. 4f.... ....... co.'s,
'.e~ .-.... '..t ar. '', .ata. ..
n4 t,. l,.f
nlhs 80. .ia.y 0-yf 2.o Fe-d bua ty ss.
New-York tribune., 1920-11-30
The range Of prices:
Coffee lutures-Continue unsettled co,

tOHoc iutures-COntinuod unscttIed cOn-
G.iors III primary markets. reflected by
sharp exchange fluctuations. tended 20
aken the market here, and there was
decline OF about 25 points after d steady
opening yesterday. Final prices were Is
o ~ points lower Local spot demand
iailc d TO sbow any Improvement
Nhe range Of prices.
New-York tribune., 1920-11-30
~ bern spot Ma ~l>cts-Galvcs

Ha''e ha1aed, at l5.75c. sales 4l36 bajes
NJ" or ans quiet, unchanged, at l5c:
sal ~ bales. Mobile nominal so love-,
AZ t.5oa; salos nil. Savannah nominal,
unchanged at i5.75c. sales. bales
Ans Nstd steady, unchanged at 14Ssc.
sales. 500 bales. Memphis nominal ST
lower at l5c, sales. 700 bales houston
Quit. uncnanetd, at l+.75c, sales 24lG
bales Little Rock quiet. 25 lower. at
l5.5 SOC. sales. 500 bales Dallas steady.
,unc hanged, at I3.S5c: safes $3.50 bales
tort North steady, 10 higher, at 14.10c;
New-York tribune., 1920-11-30
Oregon-W ashington Railroad Bonds

Questton-llow are the per cent bonds
or inc oregon Warrington Railroad and
EaNiEaflon Company latcd' BY what orc
ney secured, and what is their Reliability?
i5oN IS ricteTred stock of United Statea
NuGoer company rated at present %
Answer - The Oregon Washington
Railroad and Navigation first and ~.
funding 4 per cent bonds due January
!. 1861, Of which there are authorized
l,g,9oo,oOo, outstanding :. ,s66 COO.
ned by the Union Pacific Railroad
7"I I''ii 700, and reserved to retire prior
iens and for extensions SOB 800 oo0,
are secured by first lien on 8A4 miles
second lion on 1928 miles and aisn
secured on seventy three miles Owned
Jointly with other companies There
are S23,3'0,o00 of pri lens. Yhe
bonds are guaranteed. principal and
interest, by the Union Pacific Railroad.
New-York tribune., 1920-11-30
Investment
Information

Question. u esercl interest TO sx-
c>store ,ciU be ons,pered sn thas co.,
KIN, 81 schich case Only initi1is vin
oe nseG. Others uiN Dc dnspered BY
'ee- Add -ess all tr1airies, tncias-
.rg 4 stamped, addressed eMvetooe, to
f2ncnctal Ed.fo~, The Tribune, 1s4
"Dssop Street, Ne,c YORK City
New-York tribune., 1920-11-30
L he Days Bond Mark G /

1000 S91l
5000. 49,. 50
.. 600. S9la
Col Industrial IS
/ 900 .. So
Col G so lst IS
8. 600. 81
60 ijas
, 600. ,2a
Conn r X & L lst <
rig +tes stamped
= 600 so T.
Con Cas- temp 7s
ooo 1917.
: 900 l60
3 oQo. .lc0is
040. 100
ono. i10a.
= 900. 100
Cuba Conc Sugar
CIV. deh Is
10 ooQ Sc
1000. S.
Cum ho''o7N Tel 5s
p o00 50
Len 8 - O rfg IS
500. tsa.
do 4 'ss
do CON Is
! 0o0 64sl
II ooo g.;
I 600 s4ll
Detr"it Edison col Sc
1892
4010.
Nah'oi' RVS 4 4i..s
4 ono s2sv
Dul & l;,n r IN
3 0do -
= 4" Y g; con -
900 a8cs
Erie Peo l'on As
1000 So
l. 00o 80.
2 600 a.
do cvt le ser \
10 "l1 to1a
900 Al
do cvt s. scr r
q 600 40al
do cV' Is ser y
I 600 ~
Flori'' Cen & y con
5s 1Aa3
= 900. 79r.
Gen g'l doh Gs
ola -
do det SIS
0oo So
. oNn kri
40 3i-s
4 600 ~
l4ud < - Yfe IS
I oo0 Gf'.
: 400 cliS
do irr rs
900 90,
on0. 92
10 ao0 o.
o"0. "@
9 600 Z''
Illinois rNnlrai 5ihs
5000 s0f.
o00 .. 500.
10 lr" -
4 0o1 . 751s
do fs 'os1
p 600 7iT
do as 'g56
900 60
llli.ois G'c"l 4Iaa
oo0
400 -
. coo .... ~
20 u0p ~
: Q00 49,
lntrrhn = 1t isg
..ooa las
N)9
do etfe pf deposit
0QA e40f. IT,
Iut'rDN'a r T rfe e.
10 'irl. .l.
~ oro 5e
80 90f
1oe r1
8. 4of.. 6o7
go r..
g 00U
Int Aprle lI'lral rs
'sH 70
iut iot Marine g.
o9H.7 79fs
lun ,J
vep
ItN 80
on
800 ~
iuafa 'ontfi bs
0Hn
80 Is
100 ~
t G. l't 80
NUl =.
Ll
.o0u 49,
r.Hnr is
Is ensa i1r - o
upt.. T.,
gyU Z
o.
le. e.o00 -Ak
5000 5314
600 s.
,o'ii- 3i,
20 Con o
40 200
0ru
lc 0oo ~ "a
Kan nitv rrrrI ss
600 30f ill.,
lhcif,'o ';ne of
Lriif i4t "a
cHn
LacA stee n ! -
Go af 1850
N0N
!. 4 d W. lsi -.
600
Lato shers 3s ines
0ln i.
nNl ,,
Do i@ iHi.i
700. 81
Il 900 ..., o.
do gen a'ss
1000. -. -&a
New-York tribune., 1920-11-30
DIRECTORS

J. E. ALORED
STEPHEN BAKER
B. II. BORDEN
MICHAEL FRIEDSAM
WALTER JENNINGS
RAYMOND e. JONES
6. ROWLAND LEAVlTI
HENRY K. McHARG
GEORGE MoNElR
ARTHUR G. MEYER
JOHN c. MOORE
CHARLES +. POTTS
SAMUEL SLOAN
WILLIAM SLOANE
JAMES SPEYER
CARL T. sTURHATIN
WILLIAM S. TOD
GEORGE ZABRISKIE
New-York tribune., 1920-11-30
y. :. Government
Transactions
Quotations
Bid and Asked Quotations

i-fbertt Ponds yesterday. saturday.
{r1s l147 ..... % .4nf'. .r4 p..ZpN 80;
~ U.s. ra. sr.i0lj. ~. 90 $50 n ~
n - 1872 e5.N00s .nu IS 20 a. ss.. o
i-l 3t,- 1881 Nf.Tr4iN1 90 St.k6f3 81. 90
ii st4s l.t- ,....f. 5000 A- .Gft sJ..n
f. ia.s ~ ss.5l - 7oN $3.50
tfa t..e ttt. ~. tnts sf.3G >s.2Gn -
AI, .- .H-.... ~ at.sN $500 u ge.Us
80 1885,. CO., q s,.>s $500 u 9G.90
" ,,s 1883. ....'ooa. ,1lolts zoos. 0lol,s
-s ooe.. vase. 1899, ,aloli- 100 q rsiei =
(. r.. '3'9 is5s y y 3. y
- rex. :se,... 104 4as rll05i. 1914 4Mlo5ts
Is ua. 1885,. 1oi 1o51a ltfH4 y 1O5i4
.a ian e.. $780,. 700 y 4 lUl u l0oi2 q lOl Y
1a pan Is l93t... ip0ie tpi - lop q n 81 =.
-a ran g, Ia58.., 100 q s41Q1 u io0:4 l0l =
s Iop.. i0f ~ loei = N lolh4
g Pan. ro1-.... ~ u 81 - II S2
rs Pan. en1p... :, u 32 ~ u 81
i'hll 49, 1874. II 80 - ~ 81
laN ts 1855. 10 s1 - 81
l'a.l is. }sss... - n So - q 80
New-York tribune., 1920-11-30
otion Statistics
IiycvnOOl CntIcs--Erl

~ '7O"l 7 VFVIFH--E9Ft TOIVNH VUIFt 3NU
~. points lower at 10. ri for middling
sales 5000 Ann rioan 1000. Imports 23.-
oNe. Artli an 5000. Futures orened
easy q TO 81 points lower Closed barely
steady. al IS to 81 points decline. Decem-
r. 10.-Gd. january, lO.16d: March,
,9.s2G' Ma. in.25d July. lo.36d Man
Aestei. iarns aud cloths very dull
New-York tribune., 1920-11-30
Railway. Other Corporations

5000. 49,. 49,
Railway. Oihe
Adams Express 4s
0No. 80
Alaska Gold NJ ca
ser A
900. 1914
1000 1s
Am Az N cvt IS
4'o1o. a1ib
000 81
do dob -
600. S97t
1000. 90
Am Sr1olfing So
Gn0 75il
! 900 .... 75N
20 0o0 Is -
uNN' S3Of. IN
II 0n1. -5iz
4 N0o. -
nH0 .. 7b1z
1ol...... 75i.
= oor. .... n
uoH...,. -
00l.. 75
Am r = N cvt is
$4,000 95
nor etrl
1000 ... q5
400 .. gir
do coi rs
ooo .... 7eib
ooo ..... 50
do cNt ~
ooo ..... o4tl
do col Is
""'. 7eH
E 600 7e1h
. ooo rG'
- 600 7GiA
a o0o IS
Ann 4 ~ ~ is
1on "a
ArN',r'- G. so siAe
200 7F'e
4 700 80
0No ~'-
T" dd1 80
Il r e. @ - ro,l -
no1 eo0e ~
C11 -tr
tta ~i,
g o00 1r
rNn ~.
DO 80" As stan'~oh
nnN 7n,,
~ 000 ~
atl C.," inc r.
co" 10"l'
r1n too
e.. rno 1Uorf
rn So ~on s.
oNN -.
oon re,.
aa0 E7
-
tono ~
- 9 = =. Aik~
n.f e-
'' 7'-' 1', go
,vi @s-
DNp
rs.f. n'.f, g..
=
ln ref e,r'
naf o,.f.
H e..
faf -a-.
1o.
co-'
seo g..
H0a e'e.
Nf coz
do .o-
90
rn Zee
80 ce .
G.,
400 oe~,
r0 ~tfe
cp7'
rto ~eo- o~ll
.. .r- c q
~
oo0 rt
r.
""0 ~
fra vr-
~" "
a.. q" - 2.
frn rof.
r,c~o'. - ,r 10
- roo -
ro'l p" . 'r T4 y
~ -a'"
o. ooG ,or
"oo 'no
lN = ~
SO 600
fnn fn'
frs fr, ~
0on '~
r,f'4 ~ ~
no0
.of -
nfN
ro
nfn 'fi
nNf vrf.
Eronri"r rd GO
ger 'nft
tN1 1r
hnn 44
2 o0f ~
= 0Nn V7-
ErooEi"n Hsp r II
| o"o ,... 4
! 1000. ..... %
New-York tribune., 1920-11-30
OFFICERS

OFFICERS
PRESIDENT
STEPHEN BAKER
FIRST p1cE.PREsDENT
RAYMOND E. JONES
VcE-PRESlDENTs
JAMES MeNEn
b. .. FORSTER
HARRY T. HAIL
EDWIN S. LAFFEY
P. A. ROWLEY
D. H. PERSON
FRANK L. HILTON
y. W. SMITH
JOHN STEWART BAKER
CASHIER
Q. e. PAINTER
ASSISTANT CASHIERS
". F. MOORE
is. GREGORY
II. NJ. BUCKLIN
W. A. RUSH
GEO. S. DOWNING
E. S. MACDONALD
O q EXANDER
New-York tribune., 1920-11-30
G & ut. x. 5n

NFf<
lfn 11''
rr. r- 'o17
90 S9.ia
~ go ia
n'o 80
fen
1rq
a. 49,
0qu
a., '.1'~
-
0fH
a. -, T. - G.
FTI
New-York tribune., 1920-11-30

- Z" r.. Aik~
n.f 90
''I 1'.. r.
Wy -t-
lNn
New-York tribune., 1920-11-30

Dpfllfiif r. sn
ntH 2
f Z
i@fsfff q - ! :
- s
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20

onstrated by the coEIuslng movements
of the leaders. although most changes
were limited to fractions. Striking eX-
ceptions were furnished, however. by
several of the miscellaneous specia ties
in which reactions ranged from l to
points.
Features of comparative strength in
cluded the steels, equipments. sugars
and high grade oils. There were many
stocks. however, which showed an en-
tire absence of support. among them
being Famous Players. which dropped
) points to TN. loss of about 10
points from its high of yesterday: There
appeared to be little demand for the
stock. 1t met much the same experience
as some of the newly promoted oil
shares did during the liquidating move
ment last week.
The motor group was also inclined to
be weak. General Motors was the heav-
lest of the popular issues, losing almost
g points. but later retrieved a greater
part of the loss.
Call money opened at s per cent, i'm
medately eased to per cent. which
was without influence.
Call loans got down to q per cent
at midday. indicating the abundance
of demand funds. Trading continued
in extremely light volume, however,
but all losses OF the forenoon were re-
covered. Further gains in active in
dustrias were shared by the motor and
utilities groups.
Oils, motors and food shares fea
tured the further improvement OF the
last hour. steels aud equipments also
making additional gains.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20
TRADING. IN LOCAL STOCKS
AGAIN ON SMALL SCALE
Interest for Time Being Has Been Diverted the Attroce
Note Issues

Trading in the local stocks continued
on the same limited scale during the
session, but prices were fairly well
sustained. In most cases dealings
again conspicuously lacked initiative,
which was not unnatural, in view Of the
existing uncertainties of the general sit
uation.
Interest, for the time being at least,
from an investment standpoint, has
been diverted from the market proper
by reason of the attractive basis at
which number Of the note issues are
being issued. With many of these new
issues offered on Z per cent basis. and
in some cases even at higher rate of
return, it is not surprising SO little
attention is paid to the stock market
offerings. As a matter of fact, however
most of the leading seasoned dividend :
paying issues have been selling on vir
tually per cent basis for some time.
The short maturity of the notes, how
ever. apparently gives them an addi-
tional attraction.
Prices changes except in few scat
tering instances were again confined
within fractional limits. The only ex
ceptions were supplied by Lehigh Navi-
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20

EXTREMELY Y DULL
WITH IRREGULAR PRICES
Traders Disposed to Hold of Pending 4cton by Federal
Reserve Board Credit Situation

New York. Jan. 20.--Today's market
was extremely dull, irregular and en
tirely professional. More than two
thirds of the days transactions orig
mated and were confined within the four
walls of the stock exchange. There was
title outside business, as the public as
well as the more important financial
interests were strongly disposed TO look
on rather than to participate.
There were no developments to divert
the market from its sluggish and
irregular trend during the morning.
The more active speculative interests,
however, seemed disposed to hold off 4.
pending possible action by the Federal
Reserve Board. which was reported to
be giving further consideration TO the
general credit situation.
As a matter of fact the general char
acttr of the market differed slightly from
that of the preceding sessions, except
the further narrowing of speculative in.
terest and the increasing professional.
ism OF the dealings. In other words,
the market seemed TO have reached a
iuncture where little encouragement was
offered for much activity on either side.
The extension of the short interest ap-
parently has reached such dimensions
as to make it imprudent TO enlarge
on this account, while on
the other hand, nothing developed of
sufficient influence to warrant any con
centrated action against the bear party.
Compared with the lively trading in
the immediate preceding sessions. the
initial dealings were conSpicuOusly tame
and colorless. The uncertain attitude
of the trading clement was again dem
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20
FOREIGN EXCHANGE

New York. Jan. 20.-Thc foreign eS-
change market opened with declines in
almost all cases. Tho exceptions were
an improvement of n point in Italian
exchange over Yesterdays close. Chris
tiania improved . points. Rublc notes
we're nominal and scarce at 4.2O for
zoos and 4 10 for zoos. About week
ago, the quotation was only half as
high.
Sterling opened p lower. Francs
showed a decline of 3 centimes and
Stockholm and Copenhagen lost, re-
spectively. 10 and points. Belgians
were unchanged.
Quotations were: Demand sterling
3.673,, cables 3.6Sl2; franc cables
II az checks 50: lire cables 1888,
checks 1911; Swiss cables $50. checks
5.5S; guilder cables 373s, checks 3Tl2 ;
Desetas cables 1905. checks 1896 ;
Stockholm cables 20.65. checks 20. 30 !;
Christinia cables 1910 checks
10. %; Copenhagen cables 1850, checks
i7.45; Belgian cables 11.6S, checks
1l,7O; marks 1.G0; Austrians 40 :;
marks spot currency, 2.25; Rumanian
2.20.
At 1880 for cables and 1882 for
checks Italian exchange established a
low record. Marks We're Il point above
the low record made this morning at
30 Sterling declined further to
3 ,66a, for demand and 3,6714 for
checks Francs were heavy at 1.72
for cables and 11.1f for checks.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20
BANK CLEARiNGS
Charters Filed

Dover. Del. Jan. 20.-Charters filed
here today were: The Jewett Bigelow
and Brooks Coal Co, mine, sell and
ship coal and other minerals. $50 800, =
900; r. l.. Croteau. c. II. Blaske,
S. +. Dill. local. Wilmington, Del, in
corporators. Ukrainian Navigation and
Trading Corporation. build. own and
Ddrate boats. $4,000 900; Theodore L..
Ernest. j. Meehan. II. /. Ellis, Jr..
New York. incorporators. Detroit
Steering Wheel Corporation, manufac-
ture and sale of steering wheels for au
tomobiles. motorboats. etc, 81 $50 900 ;
William +. Okeefe. George G. Steigler,
Il. Il. Abcrleo Wilmington. Del. Vic
tor Saw Works. Inc. manufacture of
all kinds of saws. $1,000 900; Samuel
Il. Howard. George V. Reilly. Robert
X. Thistle, New York. incorporators.
Associated Stores Shoe Corporation
manufacturing business, $1,000 900; A.
G. Torgeson. Cedar Rapids. Ia. A. e.
Simmons, Davenport, Ia; Wheeler
Sammons. Chicago, III.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20

CATION and Philadelphia Co. cumu,,,;r.
preferred. The former on very iimitoss
transactions advanced 81 to S4 ',ri,Ha wh;in
the later on broader dealings rose sI ho
to 80. P''oo
Trading in the PHILADELPHIA Nat;o,,t
Bank warrants continued fairly act;va
The first sale was made at j2D ,n
changed from yesterdays final sale fror,
which the. price reacted to 1917. oniu
to quickly rally to 131. Philnde,nbia
Electric appeared to find strong snn'
port at par. United Gas Improvemeppt
shaded under 55 on light sales. TaLc
Superior Corporation on small dealinns
reacted "a to 201a, while Lanston Mos
otype was. off $1.50 from the previous
sale at S3h. 'u'
The limited demand was emphasized
in the fractional concessions made bv
a number of the inactive stocks fronS,
the previous sales. American Gas , wss
off 1a at 511a; Buffalo and Susouaa
hanna preferred, Il at 49%. Electric
Storage Battery advanced V to III i
Bond dealings were equally lim;tod
Philadelphia Co. consolidated 5s y;elS :,
cd / per cent to so and Philadelnbia
Electric 1st 5s made similar decline to
o. w
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20
IMPROVED TONE
IN CURB MARKET
Petroleum Stocks Continue to
Attract Bulk OF Attention
at Advancing Prices
SUBMARINE BOAT STRONG

New York. Jan. 20.-There was
generally strong tone to the leading
stocks or the Broad Street Curb.
Simms Petroleum moved up moro than
point, to 5tM, and there was a good
demand at advancing prices for Home
Oil and Gilliland. International Petrol
cum was firm. selling at 20 to T0aS.
Ornheum Circle. when issued. was
traded in for the first time. selling at
1864 to 3J12.
General Asphalt was one Of the
strongest features, mo, ns up from 113
TO 1tJ12.
There was II good demand for Cleve-
lnnd Auto new which sold at IS TO
t2. De Beers. another newcomer on the
curb was traded in from Ii to Az.
Submarine Boat was strong, selling at
1CA to 1875.
There was small amount of bust
ness in American Locomobile. whir'
sold at 24A. General Motors was
steady with a few sales at 81 to 80.
United Retail Candy ranged from
16ln ia 1R
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-01-20
NEW YORK COFFEE MARKET

New York. Jan. 20.-The coffee mar
ket opened barely steady today, il to
II points lower, sales being mostly from
local trade sources. with Wall street
and commission houses the principal
buyers.
During the morning session the mar
ket ruled exceedingly quiet, and i'll the
absence of any sort of aggressive de-
mand prices worked down from initial
figures, March selling from 1870 to
u 50 and May from 1915 to 1907, or
16 to 1S points net lower.
Local sentiment is still nervous and
unsettled over conditions in the pri-
mary markets, and there was disposi-
tion on the part of traders to wait 1ur-
ther developments from Brazil.
Private advices from Brazil say that
the government there does not intend to
sacrifice that market in the sale of gov
ernmcnt holdings.