davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-02-19
RAILROAD RETURN
UNDER 1 PER CENT.
Property Investment Figures
Fell Off in 1920, Bureau
Reports.

The return on railway property invest
ment on all roads of the United States
for 1929 was o7s per cent. compared
with 2.64 in 1919, and the average since
1908 approximately per cent. ac-
cordinz TO the Bureau Of Railway Eco
nomics. The figures are based on the
property investment as reported to the
Interstate Commerce Commission for
1919.
Investment in railroad properties has
grown from s1s,213.766,54o in 1908 to
s19. 272.911,02S in 1929, and the sudden
slump of railway operating income did
not become acute until after 1919 had
closed. These figures OF course are ir-
respective Of any returns to the roads
from the Government or other sources,
and are merely the actual net on the
property investment
Because Of the change of fiscal years
from July to July to the calendar year
period in 1915, the returns for the last
half OF that year make relatively the
best showing. amounting TO return of
6.17 per cent. on the property Invested.
This, it may be added. is the only time
since 1908 when the percentage figure
exceeded 6 per cont.
The figures. as compiled by the
bureau follow:
The New York herald., 1921-02-19
States Foreign Government
City or Bor-
deaIIN az

1.......7731
3d.. 76l2
City OF Mar
seilles 6s
The New York herald., 1921-02-19
STATISTICS.
COTTONsEED OIL.
BIG LOSS BY CURTIss COMPANY
writing Down of Raw Material
chief Cause OF s1.756,5s2 Deficit.

The income account of the Curtiss
Aeroplane and Motor Corporation for
1920 will show n net loss OF s1,756,5S2,
according 10 G. NJ Keys. president. who
has sent a statement 20 stockholders out
lining the company's position. This loss
includes full depreciation on plant.
securities owned. patents, receivablee
and inventories, as well as cost OF can
collation. OF contracts for material.
"The greater part of the loss" Mr..
Keys pointed out, was due to the writ
ing down OF all raw material and fin
ished product TO the estimated market
value on December 81. 1920. In the
summer a large amount OF contracts
outstanding for materials. both raw and
seri-fabricatcd. were cancelled by the
corporation. No financing Is necessary
and It seems unlikely that any win be
necessary"
The New York herald., 1921-02-19
CONSOLIDATED EXCHANGE.

Liquidation of record breaking propor-
tions paved the way for a violent decline
OF more than 10 points in Atlantic Gulf
TO 54iz at it's minimum during yester-
days Consolidated stock Exchange trad
ing. In the first two hours OF tho trad
ing and prior 10 posting Of 6 per cent.
rate on call funds most active indus
trials declined substantially and SYM
pathetcally. Improved money conditions
induced average rallies ot point to
more than 2 points in active oils, steels
motors and speciaities during the second
half Of the trading. In the rails the
undertone was one OF firmncss through
out the session, Reading rising = to
T6is and Norfolk and Western ~ 10
1895.
with total sales Of Atlantic Gulf at
i00.275. the Consolidated reported for
the first time sales Of more than 100. O0o
shares OF an issue IN a session During
the first hour 1910 OF Atlantic Guii
we're traded In during the second, H.
eT0 during the third. 1850 during the
fourth, 1920. and during the last.
1860
Ajax Rubber was offered. down %, TO
2S5s. General Asphalt 81, TO s5@. Retail
stores "a, 20 55aS United states Rubber
~, 10 GSai Kclly-Springicld i.s to
t4ss Famous Players q q 60 C2Ts, Mex
lean Petroleum 2ss to i5sa.. Pan Amer
lean ! TO rev.. Texas and Pacific Coal
and OIL 10 27ss and Baldwin Locomo-
tive to S9ss.
Tobacco Products rallied 1 y from its
early low to 5in American sumntra
1% 90 50, studebaker "a TO efh,
Chandler Motors I y 20 71i., United
states steel 20 s4. Cruclbe IA to 9in,
Republic 10 67ss. Lehish Valley TO So.
Jewell Tea / 20 10h, American Linseed
fth 20 soH and Virginia Chemical 10
s5is
The New York herald., 1921-02-19
Denies Ajax Rubber seeks Loan.

The report that the Ajax Rubber
Company had opened negotiations
With bankers for loan of 10000
600 TO s15,00o,000 was denied yesterday
by Horace De Lisser. chairman of the
con1pany's directors, who said that it did
not contemplate the issuance or sale OF
securities OF any kind and that its bank
ing requirements were taken care of up
TO December, 1921. The report that
Ajax Rubber would 90 some new financ-
ing, was no doubt based on the rather
poor showing OF the conpany's ba.ancc
sheet OF December 81. IL Indicated
heavy borrowing from banks. the notes
payable item standing at S6.145, 900, in
contrast to no bank loans i'm 1912 Tho
balance sheet also showed n decrease in
working capital of more than $1,000
oo0. In order to pay off the banks and
obtain additional working capital 1t was
believed that new financing would be
necessary.
The New York herald., 1921-02-19
INTERIOR RECEIPTS.
srABoARp cLgAINNcEs.
"MoppnN MrLLnp's" OUTLOOK,

Special Despatch 90 THE Nrw YORK HERALD
CHICAGO. FEB. 1s.-According 10 the
Modef, Miier "the present condition of
WRITER wheat g. generally reported as
satisfactory. Green bues arc plentiful
IN TcNas and oklahoma. but no con-
nrmcd damagc has been reported. Scat
tered reports of Hessian rs come from
many winter wheat states. Soil condi-
tions arc generally favorable. with a good
supply Of moisture as aid 10 the plant
in resisting insect activity. Growth OF
the plant Is unusually forward and
weather conditions In the next few
weeks will have great bearing on the
outcome OF the crop. Wheat stoollng in
many sections Of Kansas, reports indi-
cate no large supplies Of wheat on farms
In most OF the belt Stocks IN interior
elevators ere moderate"
The New York herald., 1921-02-19
bond rrnding i. Narrower.

Trading In bonds yesterday was still
further restricted. and all issues moved
within a very narrow range. The for
eign> government group was unusually
DUH, the only life being displayed by the
Belgian Government SIS, 7iss and 6s.
which sold fractionally lower. Mexican
Government Is and 5s were moderately
firm, and Japanese bonds were steady
around their recent highs. Business in
Liberty bonds was in greatly reduced
volume. Railroad and Industrial issues
were generally devoid OF interest. Slight
gains were made by Hudson and Man
battan SIS and the United Railroads of
san Francisco 4 per cent. certificates.
Traction bonds held up well.
The New York herald., 1921-02-19
WOOL.

BOSTON, Feb. 1s.-The Co1rn,erctr.
Bulletin Of tomorrow will say: There
has been a moderate demand for wool
this week and prices are firmly main
tanned The feature Of the weeks news
is the cleanup of about 1900 bags of
noils by the American Woollen Company,
which arc thought to be for overcoating
purposes. The passage of the emergency
tariff by the Senate has made the mar
ket a little nervous, although the con-
sensus is that the bill will not become a
law. Some orders sent abroad, however.
have been recalled in consequence.
american competition has been lees
pronounced in the foreign primary mar
kets and prices have sagged somewhat,
especially in Australia. The goods mar
ket is cheerful. but not especially
active"
The Commercial Bulletin Of tomorrow
will publish wool prices as follows
Ohio and Pennsylvania heeces: Delainc
unwashed, 40d42 fine unwashed. 400
81: Z blood combing. 33@35; x blood
combing, 30d31. Michigan and New
York fieeces: Delaine unwashed. 5000
fine unwashed. 2sm30: Il blood un.
washed. 32@34. ~ blood unwashed,
29030. Wisconsin, Missouri and aver
age New England: X blood. 2S6 % 4;
x blood. 25@26: Il blood, 24G25. Ken
lucky. West Virginia and similar: q
blood unwashed, 2993o; Il blood I'M
washed. 2S 90. Secured basis: Texas
Fine 12 months, 1906: fine 8 months.
5000 Calfornia-Northern, 1885
middle county, 75; southern, 55d co.
Oregor--Eastern No. ! staple, S0I90
eastern clothing, 65G70; valley No. l.,
65T70. Territory-Fine staple choice,
s5g95; y blood combing. 1880; q
blood combing. 53d5S; 4 blood comb
ing, 45Q4S; fine and fine medium cloth
ing, 65a70 Puiled-Delaine. 95D1.00 !:
a. A, 9oG1.00 A. Supers. 7o9S0. Mo-
hairs: Best combing, 3oq32; best card
ing 25@27.
The New York herald., 1921-02-19
Average Bond Prices
sno PauIo oncrine Next Week.

The American share of the fs.0o0,o90
Sac Paulo loan. amounting to $4,000.
6Qos is expected now to be offered directly
sfter Washington's Birthday. Speyer
& 70 who head the American group
.stneunced yesterday that the other MEM
bers of it were Blair & Co, Inc. the
Equitable Trust Company of New York,
Halsey. Stuart & Co., Ladenburg, Thai
mann & Co. Cassatt & Co. of Philadel-
phia and the Illinois Trust and Savings
Bank of Chicago.
h The total loan sold by the State of
SAD .Paulo is divided into three parts, as
Follows: Guilders. 1S.000.000, which has
been taken by Dutch syndicate ; $4,000
eco. which has been taken in London by
r. Henry Shredder Co.. Barring Brothers
a. Co. Ltd. and N M. Rothschild &
Sons, and s10.e00,000 for the United
States.
The New York herald., 1921-02-19
PRODUCE.

BEANs-NIarrcw, choice. 1920. 100 lbs,
$3.50; red kidney. 1920. se.2J; white kidney.
sf425di5.
BuTTER-creamery higher than extras.
90 10 oi score. 4JIi7c.; flrsts. 50 to 50 score.
42d44c.. seconds. SO TO 81 score. 35T41iAc.
! lover grades. 3on34c. unsalted, higher than
extras. 5i@5iMe. .cxtrns. 50d5olSc.; firstg.
4564ec. seconds. 3Jd 42c: held or storage.
high scoring, 13c: extras. 42c.: firsts, 3Tn
SOC; Danish casks, fresh. lGfii7c.: state
dairy. tubs. finest 45diTc.: good 10 prime. 80
@4ic.; ladies: current mako, firsts' 95Na;c
seconds. 22d23c.; lower grades. 2OQ2lc.
packing stock. current make, No. I. 2id
2iisc.; No. ., 20c.; lower grades. iT9i9c.
CfIEEsE-state, whole milk. held. early
made flats. specials. lb., 21I2pc. fall made.
e6H21c. average run, 24q25lsc; fresh hpe-
lover GRADES, fba2iisc.: I: twins, held specials,
sin, Sd, ' held, mats. ssgase. held twins. ga
double daisies hold. 2iis1 126iac.; Young Amer
icas, held. 21d29c. fresh. 21izg2sizc.. skins.
held. specials. i7ikTiaiic.j prime 70 choice.
i30f6c. fair to good. ii0tcc.: lower grades.
Sdi0c.
E6Gs--Fresb gathered. extras. dozen. i5c.
extras. isisff i4e.: : firsts. iia4sc. seconds.
Zoe. dirties. No. l. 3T93sc. checks fair 70
choice, drya. 35a36c.: STATE, pcnnsylysnia
Sc: extra fltsts. 5ea5Sc: tirsts. t5c T; gath.
cred whites. firsts TO extra firsts, 0519ic. ;
under grades. 4e1Jic.; Pacific coast. white,
extras 5sc. extra flrsts. J6d5Tc.; fltsts.
5sc.: pullots. i3Ific.: othcs Western and
Southern, gathered whites. Hdj5c. state,
Pennsylvania and nearby Western, henncry
browns. extras 4Gc: gathered brown and
mixed coors. graded extras. 4Jc. firsts 10
EXTRA firsts. i2T4ic.
POTATOES Bermuda, bbi.. s65p.5o. old.
$50 lbs. s2.aodo.Ta; t65 lbs. s2.25f2 Joi
i50 lbs. si.T5Q9; Ions Island. bag. s2.50d
3a5. sweets. Jersey, basket, STAG; Mary
land. basket. 81 25ri .G5; yams. bbi.. ssa5.
POULTRY. DRESSED KILLED
Chickens, fryers, boxes. 32n3lc.; rosstcrs.
ao54sc atars. gsd35c bbis 3idi2c. .
fowls. hoxcs. eTd3sc.; bbis., 2Gd37c. old
cocks e512Ic. capong. nearby, 1o1Goc. .
Western tef1Gc slips. f2Tj0c.; turkeys.
Young. $4,000 old. 500 Sc ducks, West
ern. ESQ J40c. geese. Western, 26H36c guin-
cas-. pair 1Jc.nsi55. squads. dozen. S1ai2.
FROZEN-C chickens, broiiers. SGN5jc fry-
ere. sod31c ropetcrl. 34HiAc. fowig. 26ff
CSC: old cocks. 2sT31c. capons. Jca5Sc. !:
turkeys young. 55i62c. ducks, Ions Island
and .vestcrn. 900 i0c.; geese, 2Gd5Gc.
rouLIRy. IIvE-Fovis. freight a2c. ex-
press s2V3sc. chickens. freight CSC, cv-
press aOdgcc brniiers. freight. 900 4jc. /.
express, lOGaOc old roostcrs. freight 20c.i
turkeys freight. 45Tisc.: express. zoe. I;
ducks freight. 5on ttc. fxpfest. 1916. ;
geese. freight 25G 2Hc; express. 20u2Sc. :
pigeons, pair, freight or exprcss, JJf7oc. I;
The New York herald., 1921-02-19

Closing prices of stocks ~ which there
were no transactions yesterday:
The New York herald., 1921-02-19
NEWS AND NOTES
va OF BOND MARKET
Missouri Pacific Equipments
of 100000 Sold to Kuhn,
Loeb & Co.

b. f. Bush. president Of the Missouri
Pacific Railway. has completed arrange
ments for the sale of approximately
st,soo.ooo of 6 n per cent. equipments to
Kuhn, Loeb & Co. The issue has been
authorized by the Interstate Commerce
Commission, but the official notification
has snot been received by the bankers
AS soon as it arrives, steps will be taken
70 place the issue privately. There will
be no public Offering, according TO pres
ient plans.
The New York herald., 1921-02-19
Absentce..

,'The largest exodus from the city IN
q midwintcr holiday period Is reported
for this week end. extending until
Wednesday snd the absentees practically
insure a few days Of especial inactivity
iva. bond circles. At the Lake Placid
Club reservations taken up this week
end approximate 700. in contrast to a
population of fifty there three or four
weeks ago Similar hgiires could be
given for Atlantic City and other re-
sorts further South or further North.
In fact midwinter holidays are as much
sought after by those IN position TO
20 as arc midsummer week end oppor-
tiinities Altogether IL looks like q dull
period until the middle of next week
az least.
The New York herald., 1921-02-19
GRAIN.

CHICAGO, Feb. 1S.--Snow and rain
West and Southwest and predictions OF
the coldest weather of the winter had a
depressing influence on to-day's wheat
market Prices closed weak. h11Ac
net lower, with March at s1.67h9
1874. and May at s1.57h 91.5s. Corn
finished &c. to u q asc. down, and oats
unchanged to &c. higher. In provisions
the outcome ranged from 10c. decline
TO advance of aisc.
Return of winter conditions appeared
likely to check. IL not altogether end. the
likelihood of great damage by green
bugs and hessian fly TO the 1921 wheat
crop. Selling pressure which resulted
brought about material declines at the
opening, but later the market rallied on
profit taking by shorts and because of
news of considerable export business.
Foreign purchasing. however, was said
to have been done only at the lowest
premium yet on the crop. Besides. gossip
that Holland was reselling wheat which
had been bought In this country and
was taking Instead Argentine wheat AL
ready afloat was current. A big elevator
interest here led the selling at the last
and prices broke rapidly In the last fif-
teen minutes.
Cori and oats displayed firmness
owing largely to continued export call
for corn and talk Of scarcity of oats
In the East.
Provisions averag ged lower and were
affected by a setback In the value of
hogs.
The New York herald., 1921-02-19
ELECTIONS AND MEETINGS.
NOTICE OF sHAREHoL DERS' MEETING.
THE LIBERTY NATIONAL BANK Oh
NEW YORk,

lZU BrOduN1y.
To the Shareholders OF The LIBERTY MA
TioNAL BANK OF NEW YORK;
NOTICE is HEREBY GIVEN that special
meeting OF the shareholders Of this Bank win
DC held al n O'Clock in the forenoon. at the
offices OF the Bank. 100 Broadway. New York
City. ~. Y. on Friday, March 5th, 1921. to
Bank as National Bank. take effect az
a future date, and 90 authorize the Directors
20 execute a certificate OF organization as a
state Bank. as required by tho New YORK
Banking Law. and 70 take. and 20 au.aorizs
the Directors to take, such other action -
NAV he necessary or eypedient 10 cause its r.
auldatinn as n National Bank TO become effec-
USe. i.s corporate existence as state Bank
10 begin and a merger with The New York
Trust Company 10 be accomplished. pursuant
10 the terms OF the Plan and Agreement for
the merger OF The Liberty National Bank OF
New York into The New York Trust Com
pany, dated February /, 1921. heretofors
mailed 90 the shareholders.
BY Order OF the Boni OF Directors.
FREDERICK ". WALZ, Cashier.
Dated. February l. 1921.
The New York herald., 1921-02-19
Road Plans Bond Issue.

The Minneapolis and ST. Louis Rail-
road Company has applied TO the Inter-
state Commerce Commission for author
ity to issue refunding and extension
mortgage 5 per cent. bonds for s2,096.-
oDe under a refunding mortgage given
bs the road TO the Guaranty Trust Com
pany OF New York The application pro-
poses TO use the proceeds TO retire
s1.3S2.000 of 6 per cent. bonds matur-
ing on April and the remainder In re-
firing maturing car trust and equip
nrent trust obligations.
The New York herald., 1921-02-19
Goodyear Loan Extended.

Goldman, Sachs & Co. have extended
for thirty days, with an option on a
futther extension Of sixty days, the
Goodyear Tire and Rubber Company &
loan of s1S,s25.0Oo. which matured on
February is. That extension has been
granted to permit the consurnmation of
the companys refnanciiig plans. which
are making good progress. It is under
stood that creditors seem willing to ap-
prove the plan, which provides for the
issuance OF approximately ss5,0o0,00
OF new securities. and II is expected TO
80 through with few changes.
The New York herald., 1921-02-19
FINANCIAL NOTES.

The Bankers Trus. Company has received
dividend No. 3J OF 50 per cent. q shillings 8
pence on ordinary ghare). declared by tho
Rand Mines, Ltd, on It's ordinary sterling
shares OF D shillngs par. the equivalent OF
such dividend IN New Yorl, funds ~ the cur
February 2J such funds pro rata 10 holders
OF American shares Of record on Fcbrua ~
2i. az the rate of 2.O6 an American share. al
lts office. 10 Wall street.
The Bankers Trust Company has been ap-
pointed transfer agent for the class A and
class y common stock OF Armour Co.
Tho Now York Stock EXCHANGE has stricken
from the list the Tidewster OIL Company b
81, 900. 600 ten year Oh per cent gold bonds.
has admitted TO list interim, certificates for
the same.
George Buissez las been appointed acting
manager Of tho Ifavrc office OF the Guarar.s.
Trust Company Of New York.
The syndicate managers Of the new issue
International, Ltd, amounting 70 81 200 600
have sent out notices TO the effect that the
issue has been sold.
The Fidelity and Deposit Company OF Mary
land has established an executive office in
san FraucilcO 20 perform home office func-
uons Tor the compary's Western division.
which carcs for ila business Ga eleven states
n viii be directed hy Guy Leroy stoVict
in charge Of its Western division lie will
be assisted by Leland Cutler. formerly tho
Aetna Indemnity Coinpanys surety manager
IN San Francisco
The New York herald., 1921-02-19
renn.,i,ania.. Coal rramc.

December coal deliveries by the Penn
syivauia Railroad at South Amhoy.
y. j.. which supplies 60 rer cent. OF
the needs OF the subway and tho street
car lines end the gas and tho electric
light companies IN New York, broke
ali previous records for that month.
The total amount dumped by the Psnn-
syivania Mt South Anboy In Dscsmser
was 55a. lt0 tons. which exceeded evon
the high record Of December, 1919. by
i6. 6.2i4 tons. The high tonnage record
Tor ION was made IN Ausuv. whsn
6g-.o'J tons were srcd af, South
The New York herald., 1921-02-19
CHICAGO PRICES.
NEW YORK PRICES.
WUEAT--No. : hard, /

WHEAT--No. . hard, si.a3: No. mixed
Dprum, si.s4 c. T. I. track. New YORK.
CORN-So.. . yellow, S9c. No. 2 mixed.
sSiSc., c. 4. q. New York, 10 days shipment.
OATS-No. white. jIiac.; No. white.
57c.: No. white. 56c.; No. : white. 5ic. ;
fancy clipped white. s1c. ordinary clipped
white, 5sisc an elevator
RyE--No. Western. si.53 Z. o. b. n. Y.
aud 81 90 c. l. Z. domestic.
BARIEY-Fecding, 16usic.; mailing. stG
BuCKwHEAT-Iining. s2.55 a 100 lbs.
HAy--No. !, si.s51 i.55: 40. 2, 1880 Las :
No. 3, 81. .2CSlf 30: shipping. siQi.t5.
sTRAw-Market dull: No l rye. siTais a
ton.
WHEAT. including flour. exports for the
week. according 20 Brudstreers. aggregate
G.327.ofS husheit. against 1,5f5 .O53 the pre-
vious week and 2, $50 o18 iast year; since
July T. 2ps. .1i6.ss5. against isS.2i2G7S last
season. Corn. exports for The week, i.5o3.- =
5tn. against .iaos20 last week aud 26i 6i4
laet year; since July !. i5.i25.iG2, against
2 21Q gsg last scrtou.
The New York herald., 1921-02-19
DIVIDENDS AND INTEREST.

Al meeting Of the Board Of Directors held
to-day at London. il was decided to pay an
interim dividend Of four per cent. 90 free
Of British Income Tax on the Ordinary Shares
on 3lst March, 1921.
Coupon Number IS must be used for divi-
dend, and transfers received in order at
London on or before 5th March, 1921. will
be in time Tor payment Of dividend To
transferees.
BRITISH-AMERICAN
TOBACCO COMPANY, LIMITED.
February Is, 1921.
The New York herald., 1921-02-19

T.ssss FVFf
CITY OF Paris as
The New York herald., 1921-02-19
orSrn,r. EIrcrR,c coMr.Sy.

Notice Is hereby given that dividend cf
two dollars per share has been declared.
payable on April is.- 1891. 20 stockholders
Of tho General Electric Company ~ record
si the close OF business hours on March p
1921. Tho transfer books viii not he closed.
by order OF the Board Of Directors.
~ 4. MISSIONER, Secretary.
The New York herald., 1921-02-19

The sale OF $4,000 bushels of cash
wheat in yesterdays market was against
old business and for the lowest premiums
on the crop. Wheat was freely offered
during the day. Exporters did fair
business in corn, working between 4o0.-
900 and 500, 900 bushels late on Thursday
and yesterday. The continuation OF
European buying is due to cheapness OF
American corn In comparison with that
Of other countries. The demand for rye
was slow. No new foreign sales OF flour
have been announced, although there are
inquiries for t. All inquiries. however.
will not develop into orders, as foreign
buyers are having difficulty in establish
ing credits. The domestic demand for
-four continues moderate. az buyers have
little faith in present prices.
The New York herald., 1921-02-19
s HANK IN TEXAS srsPENns.

FANoEE. Texas. Feb. iS.-The First
National Bank OF Ranger did not open
to-day. and officials said that the insti-
tuition would be taken over by Fed
crsi sank examiner. suspension is tho
iasuit Of failure to realize on loans and
yesterday's run OH the bank, It's officers
said, They declared that tho bank was
solvent In It's last report Il had de-
posts of s1.5O0,o 600 and assets OF nearly
" 600 600
The New York herald., 1921-02-19

as the numbers Of the 1o4 bonds. issued
under the trust deed OF tte Chicago e. West
ern Indiana Railroad Company dated Decem-
Der 1st, 1882. 20 be redeemed. by the opera
ton of the sinking Fund March Let next.
at the office OF Messrs. ]. r. Morgan a Co..
New York, NJ i05 and accrued intsrest TO
that date. Registered bonds should be ac-
companicd by a power OF attorney trans
ferring them TO bearer
The following are The numbers OF bonds
previously drawn for redemption, but not yet
presented for payment:
1909 1909 fli00 l4o4o
CHARLES IL. RUSSELL. . 1--,s....
HERBERT l.. SATTERLEE.S
The New York herald., 1921-02-19
COFFEE.
CABLES.

Rio - 10 * reis higher Dollar rate 100
lower al 5Sg0O Exchange isd. higher at
1Oitd Reccipts 5000 bags and stock 533 900
bags. Santos spots not quoted. Futures -
higher to ~ lower. Receipts % 900 bags and
stock 3,9pS, 600 bags Receipts at ports
80 600 bags. against 1000 last year ana
30 900 two years ago. Sac Paulo had 10000
bags, against 200 and 30 900. and Judiahy
20 900 bags, against 1000 and 10, 600 bags.
respectively. Fine weather In three districts
OF Sac Pauio and cloudy in two. Cleared
from Rio. 1890 bags for New York, and
fnr Co Evan
The New York herald., 1921-02-19

(A) Railway operating income is
operating revenues less operating ex-
penses. taxes and uncolectable railway
revenue.
The New York herald., 1921-02-19
NATIONAL LEAD COMPANY.

Quarterly Dividend Of one and a hair
per cent. on the Common stock ~ this Com
pany has been declared. payable March 81,
1871. 20 stockholders OF record ~ close of
business March II, 1921
FnEn n. FORTMETER. Tree snrer-
The New York herald., 1921-02-19
CUSTOM HOUSE RECEIPTS.

Receipts for duties ~ the Custom
ddiiAe Yesterday were s55s.4sss3, Of
Nhich siS6,05ss3 was for merchandise
withdrawn from bonded warehouses and
1870, 4s2.eo for recent importsticns
The New York herald., 1921-02-19
EXPORTS FROM NEW YORK.

Exports from New York yesterday
Corn. 12o.O13 busheis hams. 1O7,5Ot
pounds oatmeal 500 barrels: -four
24.764 sacks, lard, si.1O0 pounds eras,
seed, i.0is bags oil cake. 2.44s.00C
pounds.