davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-01-21
Hoover Tells How to Stop
Manipulation i'm Grain
Would Limit Quantity of Com.
modify To Be Handled in
Speculative Trades

WASHINGTON. Jan. 20.-Manipula-
ton in grain could be eliminated
through voluntary agreement of cx-
changes to limit the quantity Of the
commodity which could be handled in
speculative trades, Herbert Hoover,
formerly Federal Food Administrator,
said to-day in appearing before the
House Agricultural Committee, which
is holding hearings on bills to restrict
speculation on future exchanges.
For the Improvement of marketing
conditions, Mr. Hoover suggested ere
ating under the Department of Agri-
culture national marketing board Of
experts with regulatory upowers within
limits over the exchanges.
Such board, he added, could assist
materially in solving present problems
by establishing standard practices and
by laying down regulations which
would secure for farmers the privilege
Of storing their grain at country ele-
vators The farmers would be given
warehouse receipts on which they could
obtain credit.
Assistance in developing cooperative
marketing could be given by board
such as he proposed Mr.. Hoover said
New-York tribune., 1921-01-21
Wedne soiay' 8
Butter, Cheese and Eggs

Butter-Receipts 7.1s7 packages. Cream
cry, higher than extras, pound 81 y @ SIC;
extras, 90 score. 80 "a q Sic; firsts. 80 to 81
ssore So to ss
extras, 54h @55c; extras. 5a1a @54c frsts.
440D SIC; seconds 35 q 42c; held or storage,
high scoring. 49ls @5oc; extras; 4s@4sc:
grades. 2s 03oc; Danish casks, fresh. 49 q
60Mc; state dairy tubs finest, 49@5oc
good to prime, Al q 4sc; common to fair, 70
2sc: second. 23@24c; lower grades. 210
22c; packing stock. storage 23@24c: cur
rent make. No. /, 22@2ac; No. ., 21c;
lower grades, 10000
Chcese--Receipts wero .. os4 boxes. State,
cias, pound. 27ls @ 2sc; fall made Is q
27c; average run. @25Ac; fresh specials.
grades, 5o@22Mc; twins, held specials.
consin. held fats. IS @2se; held twins: 25
@27c; single daisies. held. 251a @27c
double daisies. held. 251a @27c. Young
Americas; held. 2s@29Ac; fresh. 50 4 @
to choice. 15@17lac; fair to good. l20
l4hc; lower grades, 10c.
EGGS - Receipts were a12, ,l1S cases
Fresh gathered, extras, dozen, 7c@73c
extra firsts. nc; frsts, 6s@7oc: seconds
and poorer. 64@67c; refrigerator. nrsts
and nearby Western. henrery whites.
extras. 75@7cc extra frsts, 7S@75c: frsts
7l@ 72c; gathered whites, irsts to extra
hrsts, II @ 15c; under grades, ESQ zoe;
extra frsts. 7s@75c; frsts. 71@72c; under
grades, 69070c other Western and South l.
ern. gathered whites, 71@74c: state. Penn
sylvania and nearby Western, hennery
and mixed colors graded extras, 72@7sc;
hrsts to extra tirsts. 69g71c
New-York tribune., 1921-01-21
Worried About Norfolk Southern 5s

Question: am somewhat worried about
the drop in quotation Norfolk Southern
per cent bonds to under So, l own
some Of these. However. 1 have no inten-
tion of being frightened and selling If the
drop is just in line with the falling mar
ket and nothing has turned up in the
affairs Of this road to threaten tho interest
paymeEt.-B. A.
Answer--The Norfolk Southern Rail-
road, like so many other similar car
riers, has not operated very we'll of
late. Now that the roads have been re-
turned to the owners it remains to be
seen what the result of operation will
be. Increased rates are in effect, but
business has fallen off, with the result
that there has been considerable dis
appointment. We have faith IN the
future and believe that the roads will
get a square deal. Your bonds are not
high grade, as you probably know, and
they are so secured that they are SEN
sitive to earnings, etc. We cannot at
tempt to preoict the future, bul we are
firm in our belief that conditions will
improve.
New-York tribune., 1921-01-21
Cotton Receivers
On Strength of
Domestic Buying g
Purchases of Trade Interests
One of Market Features as
Foreign Reports Cause
Further Selling Earlier

Domestic trade buying was more ac-
tive in the cotton market yesterday
than it has been for some weeks. Com
bincd with reports of q frmer spot
basis in the South, it caused a rally
from early declines which carried the
price of March contracts up from 1913
to 1854. That month closed at 1850,
with the general market closing steady
at net advance of to Is points.
The early markc. was Influenced by
continued nervousness over conditions
abroad. This was due to the weakness
of Liverpool, reiterated reports of
trade depression in Manchester and
rumors that spinners in Czecho-Slo-
vakia found themselves unable to make
the expected January payments on cot
ton purchased LIST spring. These re-
ports were credited as the cause of much
early selling.
Exports for the day ran considerably
above the recent average, amounting
to over 10000 bales and may have had
some sentimental influence in the late
trading The main factor, however, was
the increased domestic trade buying
as reflection of improving business in
textiles.
Southern spot markets, as officially
reported, were unchanged to so points
higher, most of them being unchanged.
1890 to 1925, except for the nominal
quotation of 1850 at Baltimore.
The local market for spot cotton was
quiet and 10 points higher, at 1875 for
middling: no sales were reported.
| The range OF prices follows:
New-York tribune., 1921-01-21
Believes in Submarine Boat

Question-Please state what prospects
you think Submarine Boat Corporation
have. Their semi annual dividend is due
February l, 1922. Have they made pro-
vision for it? l have been carrying con
siderable of them around 90. Have been a
believer in the management but the stock
lags. do others, perhaps. Candidly. in
your opinion. has it any merit for one to
stick to?-H. II. c.
Answer-On the day you wrote the
Submarine Boat Corporation declared
it's regular semi-annual dividend of so
cents. The company makes public its
income account only once year. You
had better watch for the 1920 state
ment We would not undertake to draw
any conclusions from the 1919 state
ment, for the company reported in 1920
that it's shipbuilding operations were
proving Improbable. 1t has ben ex-
perrin enting in shipping lines. 1t is
said, however, that the company's in
vestments in government bonds net 81
share a year We do not know
whether you can afford to carry this
stock as a speculation. The future is
too uncertain for the issue to be re-
garded as an investment
New-York tribune., 1921-01-21
CROCKFR BROTHERS
NOTICE

Notice is hereby given that the under
signed have formed limited partnership
under the name of CROKER BROTHERS.
with its principal place of business in the
borough of Manhattan, CITY of New YORK;
that the general nature of the business In
tended to be transacted by said firm is
general commission and merchandising
business In iron, other metals and mer.
the General Partners are u. Fairfax Bush
Dette, Pelham Manor, westchester County,
n. T.; Geo. A. Crocker, Jr., Oyster Bsy
Hsssau N;aas County. n. Y; J. Bentley cusmss
Ger G,srmsntown. Philadelphia, Pa. and Her.
n, name and address Of the Special Partner
Y Leah r. Croker. Mt. kisco, Werchestsf
County, n Y All tho said partners are ne
which said Leah r. Crocker. Special Part
ner has contributed TO the Common Stock
OF said partnership Is Three Hundred Thou
sand s30O.0 .000) Dollars in actual cash.
The time at which said partnership begins
IS January Bird. 1921, and TIE time ~
which it is to end December sist, 1891.
Dated. December 2sth. 1920.
D. FAIRFAX BUSH.
WIN. DETTE.
GEO. A. CROKER, JH,
J. BENTLEY CUEMAN. :
CHAS. II. NEWCOMB.
HERBERT +. TOPP.
General Partnera
LEAH r. CROKER,
Special Partner
New-York tribune., 1921-01-21
Wheat Depressed
By Argentine Tax
Decision Outlook
Belief That Early Settlement
Will Take Much of Export
Buying From u. S. Mar
kets Causes Price Slump

The wheat market was under pre-
sure throughout the greater part of
the session and at the close of the day
values showed net losses of 3A to
cents.
This represented perpendicular de-
cline of about 10 cents bushel from
the high point of last Tuesday despite
the fact that exporters recently have
been good buyers and sales for the last
three days have aggregated nearly three
million bushels. The action of the
market was believed to be due largely
to anticipation of an early settlement
of the question of surtax in Argentina
and the belief that as soon as this has
been definitely arranged more Of the
export demand from Europe will find
its way to the Southern market.
Cash wheat was, not being pressed
for sale and cash premiums for Amer
lean grades we're a trifle firmer. al
though Manitobas were easier.
In the local cash market No. 2 red
and No. hard were quoted at $f.94
c. f. track, New York January ship
ment.
The range Of prices:
Wednesday s
Open. High. Low. Close close.
March,. 1.71% 1.73N 1.6S& 1859 1.72&
May. 1874 1.64h 1so 1904 1.e4h
New-York tribune., 1921-01-21

THIS IS TO CERTIFY tha. the undersignse
all persons of full age. have formed
limited copartnership pursuant to the pro-
visions of the State of New York and that
FIRST: The name OF the Arm Hnder wnich
said copartnershp Is to be conducted
WILLIAMS. MOREHOUSE & COMPAN1,
and the County in which the principal pIacss
OF business is to be located is New fe'A
County.
SECOND: The general nature Of the bun.
ness intended 10 be transacted is that OF con-
mission merchants in hosiery. underwear sp'
kindred lines.
THIRD: The general partners are ,lDs ~,
WARD H WILLIAMS. of full age. resloas
at zoos Benson Avenue. Brooklyn New fol.' p.
and HENRY B. MOREHOCSE OF fun ~
residing a. Darien. Connecticut. The specinu
partner ia the Estate of CAMPBELL -
CARMICHEL. late of 6c5 Lenox ATenu~
Westfeld. New Jersey.
FOURTH: The amount OF capital whicn ~
special partner has contributed TO the com. nnr
mon stock is Twenty Thousand N2ocsss"
Dollars.
FIFTH: The copartnership is to sesfn - -
nrst day of January, 1921. and Is TO enc ~"
Slst day OF December, 1921. ,..
IN WITNESS WHEREOF. the parn,y,s
above mentioned have hereunto sevs'raD ~.
subscribed their names the 2sth day OF ="
cember. 1920
HENRY B. MoREHoUsE.
ESTATE OF
CAMPBELL b CARNEGIE.
ANNA b. CARAfICHEL. E1ssS
trix and Trustee.
EDWARD H WILLIAMS.
New-York tribune., 1921-01-21
LIMITED PARTNERSHIP
HxNNAHS. BALLIN = 7-Cr

HANNA MS, BALl<lN e. I.EE
We. GEORGE c. HANrSAHS. D1Sfyny
D: BALM. W. MURRAY LEE EpTps1rAs TsrAns
BRICK w. !scHAUMBURG and W1LfnIEaD3;, LfnED;
scr,sars nanp all persons Of fun age sub
ship subject to the provisions Of ss-
statutes Of New York. DO HERrtpnvs tns
/. That the name of tho firm ~.
which such copartnership is to be 1naer nas
dueted is "HANNAHs. BALL1N & LEm. SSn.
ana the County where the principal me-
County. e" FORK
.. That the general nature Of thu ~.
ness intended to be transacted by such "a
partnership Is the buying. selling. dss,ss 90.
in. underwriting and otherwise issu,n~
disposing of bonds. stocks and secnr,.sIso sno
including dealing therein on commissior =
3. That the names OF all tho genera, 49,.
special partners interested thersin sae
their respective places Of residence ara saa aa
follows: 40 -
George 9 Hannahs. residing At s<% Pa,
Avenue. Newark. N. j.: Esss
Douglas D: Ballin. residing At Atla,,,.
W. Murray Lee. residing at No. sss Wa.
End Avenue. Borough of Manhattsr ~sse rssse
Of New York: y. \; S''S
Frederick w. SchaumburR renidt,.
Mountain Lakes. N. j.. ns a
are the general partners. and
William F. Hit. residing At Ma ,x..
New hampshire Avenue. City OF washirsA.
ton d. c., 'nss
is the special partner.
Al OF said persons are of full age.
.,; unau 1..a,; the amount OF capital which n,
common stock in cash is One Hundred @ .ns
Fifty Thousand Dor@.s ana
g.. The said copartnership is to hal.
on the first day Of January. 1921. ana dsn y
to end on the S1st day of December. isss
Dated New York. December 2s. 1890 Asss'
JOHN Ii. HOFFMAN,
GEORGE c. HANNAHs
DOUGLAS D. BALiIN
w. MURRAY LEE.
r w. SCHAUMBIJRc
WILLIAM f HITT'
CITY, COUNTY AND STATE OF New
On 6ohh, his 81; sstb d.v ., noo.,s.
fore me personally came GEORGE c. HiW ~
NAHS, DOUGLAS d. BALLIN. w NtIin
RAY LEE. FREDERICK w. scpXnH,ns-
BURG and WILLIAM f. HIT. TO ma N.
sons described in and who execuiea an
FOREGOING certificate and severaily acknowi.
edged that they executed the same.
JOHN n. HOFFMAN
Notary Public. Queens County, n Y r..
tihcate filed in New York County M "a
Ee EEegister.s oS queens County s5s. New Yort
county 2.O24. Term expires March "a
CITY. COUNTY AND STATE OF NEW
George c. Hannahs. being duly ,vor,
says that he is one OF the general M
@ ners named in the foregoing certiacsts
be contributed to the common stock hv ~ -
special partner therein named to vii. ~. ~
sum of One Hundred and Fifty Thou,a ."s ~
faith paid in cash by said partner so'e
GEORGE c. HANNAHs
sworn to before e6 me this 29th day Of D..
JOHN II. HOFFMAN.
Notary Public Queens County. N. y
Certihcate filed in New York County M
80. 1922. 4"ssca
New-York tribune., 1921-01-21
j. GUSTAV v. Lang
CERTIFICATE OF FORMATION OF INV
ITEn pAETNtpSxrrD


WHEREAS. The UNDERSIGNED des,r. ..
FORM limited partnership pursuant to the
Laws of the State Of New York. under ths s
flrm name of -. GUSTAV v LANG": 'A'
NOW, THEREFORE,. We. the uns.,.
signed. pursuant to the laws Of the Ststs
OF New York, do hereby certify as foliows:
FIRST: The name OF the firm under
which said limited partnership is to be
conducted is ~. GUSTAV V. Lang" and
business is to be located is the County ~
New York Borough of Manhattan, City
and state of New York. The undersigned
hereby declare that they are the only per-
sons VINO are TO constitute such limited
partnership of j. Gustaf V. Lang, and who
intend TO deal under such name.
>, Sc SECOND: CO. The general nature of the
partnership is that of commission msr.
chants and purchasing and export agents.
THIRD: The name and place of resi-.
nersb; nerce OF inc me genera partner in this part
J. GUSTAV V. LANG.
$50 Riverside Drive
New York City.
FOURTH: The name and place of red.
dencc of the special partner in this part
nership who is of full age. is as follows
ANNA r. LANG
$50 Riverside Drive b.
New York City.
FIFTH: The amount OF carl,sl which
Anna r. Lang, the special partner, has
contributed to the common stock of such
limited partnership is the sum Of Ten
thousand (s1oooo) dollars in cash.
SIXTH: The time at which such special
partnership Is TO begin is the 1st day OF
January. 1921. and the time at which the
partnership is to end is the 31st day Of
December. 1928.
IN WITNESS WHEREOF: We. the IN.
dersgned. the sa id J. GUSTAV V. LANG
and ANNA r. LANG. have hereuiito sew
orally set our hands and seals. all as Of
the goth day Of December. 1920 and have
severally acknowledged this certificate.
J. GUSTAV V. LANG IL. 81
ANNA R. LANG Il. 81
In the presence Of:
G. PETERSON
acknowledgements
New-York tribune., 1921-01-21
FINANCIAL
CENTRAL PACIFIC RAILWAY COMPANY
Three and One-HaIf Per Cent.
Mortgage Bonds
FINANCIAL

Notice Is hereby given that. pursuant n
me provision of Article Nine of the mort
gag gage' dated "a August l. 1899. from this Com
of New York, Trustee this Co,npanv has
set :, apart out of the net income derived BY
~ from the lines OF railroad therein mort
saged the sum of Twenty-Five thousand
dollars. and that bonds issued under said
mntortgage will be redeemed Herewith
bids are hereby invited for the surrender
OF such bonds at prices to be named ~ the
ooiidders, 70 the amount OF $25.3es.s3 In the
;, Such bids should be presented to mi,
Company at Its ONCE. 1sb Broadway. city
o. o. New York, OF Before March i, 1921,
az Twelve clock noon. and should be en-,
dorsed 90 Bids for Surrender Of Central
1,a paGihc Railway Company Three and One
CENTRAL PACIFIC RAILWAY CO..
BY VIM. F. HERRIN. President
Dated January 8. 1891.
New-York tribune., 1921-01-21
1. C. C.'s Opinion Is Important

= ,otuestion-Recently you said: The Esch-
Cummins law provides for the I. G. c..
70 flx rates that will in its opinion give re-
turn OF la per cent to per cent on group
valuation" Are you correct in that state
ment; Is it not that they are to fix rates
as a matter Of fact =? Would t,,l' You kindly S
compare the reorganizations Of Wabash
and Missouri Pacific railroads. with refer
ence as to which was the better for pre-
S. P. P.
Answer-We have stated that the
railroad act specified that rates be fixed
by the ommission which in the COM
missions opinion will be sufficient to
give the carriers return of 512 per
cent or per cent on the property
valuation. We have used the term "in
the commissions opinion" for the fol-
lowing reason: The act states that the
commission is instructed to establish
or adjust rates so that carriers as
a whole Cor as whole in each of such
rate groups or territories as the COM
mission from time to time desig-
nates) will, under good management,
earn an aggregate annual net railway
operating income equal, as nearly as
may be, to a fair return upon the
aggregate value of the railway prop
erty. The commission is to determine
lne Value OF tne property from time to
time, giving due consideration to all
proper matters in making rates and
giving to the property investment ac-
count only that consideration which it
regards necessary. Therefore, it will
be seen that the commissions opinion
is factor of great Importance. The
present preferred stock of the Missouri
Pacific was given in exchange for mort
gage bonds entirely, thus cancelling
certain interest charges, whereas the
Wabash preferred A stock was given
bonds entirely for old preferred and
common stock
New-York tribune., 1921-01-21

100000 cantars Of cotton in the hope
of raising the price of the commodity.
GA cantar ranges from 100 to 13O
pounds.)
The syndicate apparently is acting
on the assumption that the banks will
advance the necessary funds, but cot
ton experts here are doubtful if it's
members have sufficient knowledge of
the worlds markets to carry out the
operation. High authorities have been
approached for moral support, but it
is believed such support is improba-
BILE.
New-York tribune., 1921-01-21
Sugar Exchange Election

The election of officers in the New
York Coffee and Sugar Exchange yes
terday resulted as follows: T. S. B.
Nelson, president; Manuel E. Rionda,
e-president; c. H. Middendorf,
treasurer. Members of the board Of
managers are A. Schierenberg, Ben
jamin A. Peabody, E. L. Lueder, George
H. Finlay, Franklin W. Hopkins, John
H. Windels, Horace Havemeyer and C.
j. Walter. Benjamin w. Worth, of "a
Broadway, has applied for membership
in the exchange.
New-York tribune., 1921-01-21
The National City Company
National City Bank Building
IS Wall Street, New York
FINANCIAL NoflcR
To tho Holders Of Dominican Republso kH
Bonds, Issue of 1918. Due 1855.

To the Holders Of Dominican Republic 81
Bonds, Issue of 1918. Due 1855.
In acoerdanes With Executive Order a7s
seated proposals Will be received By thu
eecretariA dc Dstado dc Hacienda , Co
mercto until ~ . clock A. n. Of February 1
March l. ana April /, 1921, for the pur
CHASE for retirement OF bonds Of the Do
minican Republic dated January /. 1914
amount sstima{yd .t THREE HuNpREIs. Il
lts2oooo) on each of tho above dates. q
total for all three dates OF $685. All
proposals shall be submitted in triplica q
and shall specify the number of the bonds
offered. the sertes. tho par value and the
price at which offered and shall bc siRne6
BY an on1cial duly authorized to act for
the bidders Upon the outside Of the
scaled envelopes containing proposals shaIt
appear the words Proposals openn- of
----- tnll in date) Said proposals
Will be opened In public in the ONCE of tne
undersagned on February /, March l and
April I. 1891 unless such dates fall upon a
Sunday or legal holiday in which case the
bids will be opened on the following day
Arthur II. Mayo,
Lieutenant Commander (SC), U. 8. n.
Omcer Administ erinK tho Affairs Of the
SecretArta dc Estado do Hacienda Co.
msrcto for the Military Government.
New-York tribune., 1921-01-21
Woman Seeks Absolute Safety

invest with absolute safety in long term
bonds yielding ~ or 6 per cent. Had
thought of putting $500 in the "a per cent
the Bond and Mortgage Guarantee Com
pany and the remaining $500 in New York
Central convertible debentures 6 per cent,
1895. May I ask your opinion on these
two investments? ! own Liberty bonds.
therefore have not considered Them for the
investment Of this money-(Mrs.) II. D. C.
Answcr--You will make no mistake
we think, in placing $500 in a Bond
end Mortgage Guarantee Company cer-
tifcate. They are very high grade
New York Central debentures are safe
in our opinion, but they are not of
the best grade. Consider the follow
ing: General Electric debenture per
cent 1910 and Standard Oil of New
Jersey per cent preferred.
New-York tribune., 1921-01-21
Ra,O Sugar Tone Firm
On Lack of Pressure

Yesterday. Year ago.
sugar. granulated, lb..7.75 .15@ is
Coffee No. Rio. .O6ss .1eA
Coffee, Santos No. 4.... .09st .24ls
The raw sugar market showed re-
versal of form yesterday when virtu-
ally all offers of prompt shipments
were absorbed at current levels, name
~, AS cents cost and freight for
Cubas and $50 cents cost, insurance
and freight for Porto Ricos. Futures
were fairly steady, closing point net
lower to 3 points higher.
The range of prices:
New-York tribune., 1921-01-21
-Four full columns o. in
restn,ent questions and an.
ss0ers are published in The
Tribune every Sunday.
Stolen Securities

$1,000 Swiss Govt. SIS, due July. 1910
No. 9535.
$1,000 Swift & Co. 7s due October IS, 1925,
No. 1880.
$4,000 Govt. OF Norway s., due October,
5000 Anaconda Copper 7s 1929, Nos. 1876.
$4,000 Chicago, Milwaukee & ST. Paul Az ),
due JAN. 2o14. Nos 5164S, 51647. 5l64S,
43756
5000 Pac. Gas & Elec. 7s due December,
194o Nos. 1923. 1929, 1880, 1881, 1882.
81 900 Armour & Company 7s due July.
1880, Nos. so25, so26.
$1,000 Swift & Company 7s duo October 10,
1925. No. 2o566.
$50 Jap. as, due January. 1881. f2o pieces,
Nos. 3ss4so. s3643l, Ss6432. 337So.
$500 ST. Paul Union Depot 5las, due 1923.
Nos c 1862. 1863, 1864, 1865, 1868.
$4,000 U. S. Rubber 71as, due 1880, No. NJ
$685., 1856. S6S7. s6sS.
$1,000 Anaconda Copper rs, due 1929. No.
1924, 1895.
due May. 1888, No. 11425.
600 Jap. As. due January. 1881. f1oo pieces,
No. 27O19.
2ol7ss. l44s34, 1olis1, $685.. ssss4'
9620S. 32043, 31405.
f1oo Jap. Govt 4s January, 1881, f2o
pieces, Nos. s4es4, s17S42. s4ssb. S4eS6,
Paying agents have been request
ed to notify the undersigned should
any Of these securities or coupons
come to their attention, and all
others are hereby advised of the
loss of the above securities and
cautioned against their acceptance.
New-York tribune., 1921-01-21
FINANCIAL MEETINGS
KNOX HAT COMPANY. INCORPORATED
NOtice 0f Animal Mnafin~

Notice Of Annual Mectins. "'
NOTlCE Is hereby given that the Annual
N Meering OF the stockholders OF KNOX
Hat be r.,d ,GdoMPAN1. m An INcoRpoRATEp. viii
No. 45s Fifth Avenue, Boroush Of Man,
haitian. New York City, NJ Y. on the
1.h DAY OF February. 1891. at IL o'clock
Tor the ensuing year and for the transac-
sion ,ia or such other business a. may prop
cry come before the meeting.
Transfer Books for the transfer of ali
Glasses Of stock will close at the close Of
business on January Sc. 1891. and viii re-
BRXYToM wirhHMRInTLGI,te 81 III G,e'scm Ssorss.rx =; N.
New-York tribune., 1921-01-21
International Paper Preferred

Question-In your opinion is Interna-
tional Paper preferred. stamped. now SELL
ing at about II to 7S and paying Sc per
vestment? This stock it seems has not
varied much. At Sc per share at the
present price 1t would figure an income Of
Have they always paid their dividends on
this stock OF $6?-S. s.
Answer - International Paper pre-
ferred stamped is good investment,
in our opinion. The stock was offered
to old preferred stockholders in ex-
change for their shares and in lieu of
accrued dividends. 1t has paid regular
dividends since issued. The par value
is $1O0.