davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-11-03
Railroads Earning Power
No. 10 Chicago & Northwestern

that year, the Chicago, st. Paul &
Fond du Lac Railroad, sold under fore.
closure. The first dividend was paid
OH the preferred stock In 1864, and
since 1877 payments have been unin-
tcrruptedly made. The preferred stock
is non-cumulativc and is entitled to
receive z per cent before anything Is
paid on the common. After z per cent
on tho common the preferred is en-
titled TO 3 per cent additional and then
tho common 8 per cent, after which
both issues share equally in any fur
Their distribution, III two fiscal years
only, 1859 and 1871, did the preferred
receive 10 per cent. From 1903 to 1919
inclusive the annual rate was per
cent. After that it was reduced to z
per cent.
The first dividend on tho common
stock was paid In 1868 at the annual
rate of 8 per cent. Since 1877 pay
ments have been continuous, ranging
from Q per cent to 7 per cent, the lat
ter rate predominating. The present
rate is 5 per cent, in effect since 1919,
but in view Of the rapid recovery that
the company has shown from the 1921
traffic slump an increase In the pres
ent rate in the near future would
cause no surprise.
Margin Of Safety Of Earnings
The margins of safety above interest
ard dividends shown In the table be-
low are based OH the percentage that
net income available for interest and
dividend payments would have to de-
cline in order barely TO cover these
requirements. Thus in 1912, If total
income had been 8 per cent less Just
enough would have been earned to
cover fixed charges, the per cent pre-
ferred and per cent common divi-
dends. If total income had been 40
per cent less fixed charges and pre-
ferrcd dividends would have been
earned, but nothing would have re-
manned for the common stock. If in
that year total income had fallen OFF
to the extent of SO per cent fixed
charges alone would have been earned.
The year 1921 was bad for Chicago
& Northwestern, as the minus signs in
dicate. In that year total Income
needed to increase IL per cent in order
to cover fixed charges, ~ per cent In
order to cover both fixed charges and
preferred dividends and 95 per cent in
order to show the common dividend
New-York tribune., 1922-11-03

~ IFe present In tho su5joiissd crticsc
tfe sfrtceatk Of q series Of foYtu dolly
aiscisssioHs of the psesant eurniag potrcr
OF tho iocdiny American steam yuiirouds.
St the request OF The Tribune, these
studies sceye andertakcn bg the Stand-
ard Statistics Compaag, me, Of Nep
York, sch;ch has prepared tho papers
ard is sccus-inS q copyright for them III
1882. Tho seventeenth drticls 4ciu up-
perr to-aaovroto and will doa. ,rith Chs.
eago g Eastern illiaoie. - Financial
Editor
Chicago & Northwestern has long
been regarded as Que of our high
grade railroad properties and its Sc
curities accorded high investment
rating Like other roads, it suffered
from government mismanagemcnt ard
was ht with especial severity by the
1921 traffic slump. Tho road Ia con
servatively capitalized, as it's Yarge
equity in estimated property value
will indicate, and its financial condi-
tion Is very strong. It's fundamental
soundness has enabled it to take full
advantage of the improved conditions
this year and to stage a rapid re-
covery IN earning power. This re-
coyery has been so marked that n
return to the per cent dividend rate
on the common stock before long
would cause no surprise. The main
factors contributing to the support of
this viewpoint will be found below:
Growth of Capitalization and Mileage
New-York tribune., 1922-11-03
Prices of Wheat
Ease Off After
An Upward Squirt
Profit Taking Counterbal-
ances Earlier Gain; Cen
cral Market Closes I'm
changed to 5sc Net Lower

CHICAGO, Nov. 2-Although on ac-
count OF scantiness of foreign stocks
wheat scored "a fresh upturt1 in price
to-day, tho market then eased down, in
tluenced by selling from traders, who
contended that setback was due. The
close was unsettled, at the same as yes
terday's finish to ssc lower. Corn
gained 1c to &c net, oats 1sc to Ac to
u 0asc, and provisions &c to SIC.
Efforts 10 bring about a. bearlsh reac-
ton in tho wheat market met With prao-
had carried May delivery TO new top
record for the season. 11iR. AT this stage
profit taking Oh tho part OF holders as
we'll speculative bear dealings, more
than counter balanced the early gains. The
fact that despite car shortage tho total
primary railway receipts to-day was much
In excess Of tho aggregate year ago
counted to come extent as D handicap to
bulls, and 30 llkewso did further useful
rains in tho winter crop belt.
Gossip that Great Britain has yet to
provide for half It's November require
ments OF wheat and that other European
countries have been getting less than
enough TO supply current needs attracted
considerable notice, especially in view of
10 per cent cut In ocean freight rates.
Tho prevailing opinion later, however, ap-
pearcd to be that advances here had sur
ficiently discounted bullsh factors for the
moment.
Assertions that country elevator stocks
of old corn had become nearly exhausted
had bullish effect on corn aud oats.
Provisions wero frmer with hog values,
and owing to liberal decrease shown in
the amount OF lard on hand here.
New-York tribune., 1922-11-03
Coffee Futurea
The range OF prices;
Country Produce

Hcstcr-- Reeeipts were e.s2s o.a.
,d5dsesaaiMTsEg. ddeaiTg higher scoring than sgtrss 4
to 'eaG II acops s1tfas IL. " sore +shc; hrss 4,
seore, ss@ a5o; seconds. 81 10 ~ ~ n % q
se3s Ssc; lower grades, 3sQ3e ,.rssssss ssss
;zed cass, 80 score 42jA GzSc; 50 scorsa cory Is
%. % ~ Sse; Ctrreanery, unsalted. higher Ms
extras, 6l " q 52hc; extraa as $500 ~ ~
Wolc; frsts. 30 70 ef score, fs q SsUS.scs3e +
,1 ~ to 81 score. 4a@ 46c; seconds. asE,eas
or Or storage: fa high scoring. Ask 54so; =
onds, 3S! W38c: State. dairy tubs a.
~ = g. Y4oAc; good to prime. 4ssssss
Make make; extras $5g25sc; arats. So ;; S;|.
ssccnds. o2ac; lower grades so85Ixs
packing 1ocl., cureut make, No stn.
no. = sitac loser grades, n soses
Ci,eese-Eeceipts wero .3,37s boxes ~
rss sefn stars r,,I ffats 5uas specials. &c oil,
fresh. specials. ssA sa7c; average s Ias -
2sc:. Wisconsin, double Deiaie. sss esss
single Daisies. ASK S35c; Young Atsssirss
.sA 92S5ac. ''' ~
EEss.RecsiDts we're 1850 casss rsa
ssts sa s5as -.3 per a9sfn 67ssos a.!e
2b9zsc; dirtfea, No ]. 259 27c: cirttss, r.
z and poorer, 9o024ci checks, 2oor Is
choice. cry, 10 g2so: TeLrigerator. er nzssl
hrsts. charges paid to expiring dates, s2ie
S9e; seconds and poorer. 90 @ ze; check,
local Gambling. 15@2ec: Whites, riearbs.
80 42c: whitey, Pacific Coast, ssa ,zs
whites. other Western. 30GsSc; refrteers,
tor oil, immersion process. nearby, Wits
6o1 soc; Pacific Coast, whites. 8aR{;ss
Western, brown ana mixed. s2Q3fc; Ess
Jersey hennsry whites. uncendled ext,u
SO @ SIC; nearby hennery whites, extras, d
cal candled. e2c: nearby and nearby Wes..
ern heunery wbiteG. average extras ssf
sec; nearby and nearby Western henrefs
whites, extra ilrsts. 7SG2oc; nearby aas
nearby Western henaery whites, arsa
6s973c; nearby gathered wh!tes. 1rsts IL
extra drsts. ss67Sc; nearby whites, undsr
grades. SAG CSC; pullets eggs, 449sIc; Pa
ctfo Coast. whites, extras, 771Soc; e1tH
nrsts, 12@75c; frsts. 6sG7oc; pnllak
eggs. IS o 56c; other Western and southsz
gathered whites, 4s q SEC; New Jersey hsa
;lery browns. extra fancy. T51 soc: otks
nearby hennery browns. extras, s5gf2r.
Potatoes State, 1so pounda, s7Ess
1856; Jersey giants, si.6o1s si.ss; Lcss
Island. $50 pounds, sa.T5Ts3 fs5 pounds
s2.76Gs3; I6o pounds, $3.50; Maine ~
pounds. s2.756s3; Pennsylvania. hl
pounds. s2,501s275; sweets. Jersey, bar
Eet.' 75cS 81 70: e $, barrel 1scesL,is
Delaware and Maryland, basket, togese,
Yau1s, Virginia, barrel, 81: articnokes Cal.
ifornia, drum, S1s9s20; beans, South Care
lina,< basket, S19s3.
New-York tribune., 1922-11-03
Fund for Partial Retirement

t2uestton--WtN you give US some OF your
that 9 man about to retire, after 4 Sssh-
toa .fhe will etil earn money but not
g. .ss anSs n,ash "a, as heretoforeo, should invest
little about business He wants. Of co,,ree
g. buy bonds that yield al high 8 rate
10y, bonds that are absoluteiy % SAFE y
'otice. In last Sundays paper that YOU
go not consider Chile IS, is41. absolutely
= Norwegian and Danish bon bonds H'asiioaa a gooa
. . nd !, hays beea paying on $500 a yssr
cur payments and would be interested
So seme form OF investment. wo could
i, year. what would you suggest? I? Would
ou consider paying into 3 building and
i2sn srch as the Thrift In Brooklyn? We
% take chance. Ne are most most con y.
ssfe rate OF ,nte5es. every time, Teu
These n.atters.--Mrs. H. K S.
AHswer--A building and loan asso~
carefully selected, would be u
Iood medium for carrying out your
ssvings plan. We consider Argentine
i.ogernment obligations the best OF the
Sacuth American issues and the only
Land suitable for your case. All the
norwegian and Danish external bonds
ire reasonably sound investments. We
suggest that the S25,0o0 retirement
fund be distributed as follows: $4,000
st. Louis-San Francisco prior lien 5ss,
5a42, yielding about SO per cent; $1,000
treat Northern GAS, 1852, yielding
bout Ed per cent; $4,000 Canadian
.sorthern Is, 1910, yielding about 5.s
Der cent; $1,000 Wilson g. Co. 6s, 194I,
.ielding about 5.9 per cent; $1,000 Du-
qGesne Light IS, 1949, yielding about
~ per cent; 5000 New York Tele-
i5hone 6s, 194f, yielding about 81 per
ent: $4,000 New York Edison CTS,
341y yielding about 81 per cent; TWEEN
" shares OF Wcstern Electric z per
cent preferred. selling around iii, and
menty-fiva shares Of Endicott-J ohnaon
per cent, selling around I1G.
New-York tribune., 1922-11-03
Cotton Close Is
Higher Following
Irregular Trend
Most Deliveries at New
High Levels; Final
Prices Show Net Adj
vanccs of z TO I9 Points

There was enough further realizing
to cause somo irregularity In the cot
ton market yesterday, but declines
from an carly advance were followed
by rallies which carried most deliver
les into new high ground for the sea-
son. After selling of from 24.2t to
2d.00, January advanced to 2430, or
rs points net higher. and closed at
24.20. The general market closed fira
at net advances of 7 to 10 points.
The market opened steady at a decline
s to 10 points higher ia response to reia
lively steady cables and over night buying
orders which were probably brought IN
by. reports that Canadiau nalfis had been
blg buyers here to fix prices late " sdnos-
day. Prices showed considerable nrrnnegs
during the early trading on bulIish over
tho demand tapsred Off during tho middle
OF the morning aud, after showing net
gains OF 10 70 17 points. prices broke some
ure OF selling to develop in any material
volume was u disappointment to reac-
tionists,. and the market hrmed UP again
during the afternoon OH very bullish spot
adyices from the South.
Rumora OF bultst1 private ginning re-
had eoine influence on tho carly advance,
the talk being that they would tend to
strengthen crop estimates OF under rather
than over 100000 bales. a Chicago att
thority issued report estimating the yield
ct 1o,0S5, 900 bales. The figures published
by the Department of Commerce on supply
and distribution for the season ended
July 81 last were about in line with those
previously issued BY the Census Bureau
or other authorities and had no apparent
Influence on tho market According to this
report the indicated total worlds produc-
tion of cotton for the present season is
between 1s,60o.oo0 and 100000 baios, and
the indicated worlds consumption the same
last year, about 2o,047.oeo, which
would point to further subst ant;al re-
duction IN reservc supplies Southern spot
cha nged 10 70 points higher, with mid
ding quotations ranging from 1850 to
24.50c. The local market for spot cotton
was steady and 26 points higher ct 2A1tc
for rniddling. No saies were reported.
The range of urice1.
New-York tribune., 1922-11-03
Prices Rule Firm
I'm Active Trading
On Curb Exchange
Strong Tone Develops at the
Start and Continues i'm
Broad Activity; Indus
trials i'm Better Demand


Prices developed strong tone at
the start OF trading on tho curb mar
ket yesterday, continuing the recovery
started the previous day, and the close
was strong, with the list generally
higher. Industrisls led the way in
the recovery.
HAYES Wheel waa xmong the Yea-
lures In broad activity, rebounding to
377s. National Biscuit, Durant Motors,
Macy and other prominent leaders were
In demand.
Continental Mines established new
high At on large turnover. Other
mining shares were we'll supported.
Oil stocks were steady to strong
Imperial Of Canada attracted atten--
ticn with squirt of points, and
Standard Oil Of Indiana rallied more
than three points. Cities Service held
steady, while Gulf Oil gained nearly
two points.
New-York tribune., 1922-11-03
Montreal
Toronto

= y 70 y = - : q y % apSSI uIu..ss.s.. ia
oo As ...s-s'...s 30
do old ....a........S0
do new pS.
New-York tribune., 1922-11-03
SeyilIa.Biltmors Tx.

=. Question--1 am contemplating purcbss-
IN: $500 bond of the new issue 81 ss
wn,a a-Biltnnore Hotel Corporation, Havana,
Spos. hrst mortgage "a per cent and u
dong SO would greatly appreciate your
s. saEice as to their desirability as a first-
class tnvestmeut.--I. N,
Answsr-The future earnings Of the
sseNiiia-Biltmore Hotel Corporation will
be considerable factor in determinine
the value of the property securing its
1ssue of Tls per cent bonds, and these
Ponds are suitable only az business
New-York tribune., 1922-11-03
Sugar and Coffee
Raw Sugar Futurnn

cal, uhs s,a gaaraet a.rs sold of to points - {.
carry IN the afternoon on ssli5nsa asl ~ lows
iomss @ Late in the afternoon thers sss ~ tss
porte from tho Street that csysas ef$.
en, eenses nd nad $50 sod sagar e tho uaissd ~
iioul tht5 source f1st az TIN c,.., a1tfsts
sne psltef that sucf sales had bear sea y
snd the nrnas covering In fbs s'an Imsds
marker. ~ any rate tha iate dsnanDsa,s fs
net unchanged 70 q declin@ ~ closlss
sales .r,s wsro 4stiiJnated ct 1890 ton. pot1t}
ore1. Higj, io,o WI
New-York tribune., 1922-11-03
Parish e. Bingham

o.. ouestton--Wi.i you please give me what
=, 9Tinanon you can concerning the stock
of the Psriah g. Bingham ConrpanyY It
se.ms TO be paying a substantial dividend
zor security Boiling al SO low a price -
j. II. j
Answer--The Parish 6 Bingham Com
pany manufactures automobile frames.
and the result Of last wears business
WAS deficit of about $3O0,O No
dividends have been paid on it's stock
since October 1, 1920.
New-York tribune., 1922-11-03
Boston Curb
Chicago

opan. High I.n,u 60.
New-York tribune., 1922-11-03
Foreign Bonds
IiInken Roller Bear;na

The report of the Timken RoI,er
Bearing Company for the ouarter
ended September 80 showed NET earn.
ings Of $2,3o0,000, after all charges and
tax appropriations. Net earnings for
the nine months were $3.50 900. Cur.
rent operations and earnings indicate
net for the year of about IS, SOC. 900
or slightly better than 81 share on
the stock, VIZ
New-York tribune., 1922-11-03

Between 1912 and 1922 The operated
mileage increased from 1850 to s,4o2,
or 8 per cent.
Estimated Property Value
The estimated property value of the
company is s522,4oo,ooo, or 20 per cent
Ill excess OF total capitalization. AS
sun1ing theoretical retirement of the
bonds and preferred stock at par, there
would be left an equity of s263 400 900
Tor the common stock in estimated
property value, equivalent to s1S1
share.
1t will be noted that the equity os
Chicago g. Northwestern commoH in
property value is large. This afford.
a reason for the high regard in which
1T has been held by investors.
s,Yowfh nf Yeyorv..
New-York tribune., 1922-11-03
No Market for Share.

tluestion--Any Information YOU can r-iys
q regard to the Ajax OH and Hercules
rftroieum will be much appreciated.
Farson. Sons & Co.. OF New York. about
tcree years ago.-M H L,
Answer---Wc have heard no develop-
nlents recently in the affairs of the two
companies you mention. Attempts look
ing toward rehabilitation havs not
progressed to any appreciable ertent
90 farsas we are able to learn. There
u no market for shares OF these com
p&nies.
New-York tribune., 1922-11-03
Federal Land Bank Bonds
Joint Stock Land Bank Bonds

Joint stock Land Bank So,
5s. Ie6t'31. iol l93 .&W
Joint Stock Land Bang 3.
5sss Ie51-I93f. .1oS y 1o6is Gte5
Joint Stock LaaG Bank
5s 13SS-t53f. ......... ssn lock- tR
Chicago Joint Steck Land *
Sank S rs. 1s51-1s51. ...to6H iesis &ts,
Chicago Joint Stock Land :.
Bank 5s, l937-i94o.,.. e3A 1909 "a
Chicago Joint Stock Lard s.
Bank 5s, l951-1e3I ...iests ic3is ~
Chicago Joint Stock Land
Bank 5s. l952-19-2 ....,IesSs lasis 40
New-York tribune., 1922-11-03
Investment
Information

Questions Of eonsrcl interest TO i,s-
vsstoYs Will be cnsmered TIT tk;s coll
a';ss:. IL scAeca cdss orig faisiais sill
be used. Othera uitl be uHssroyesf BIZ
',sadi. address ali Inquiries. smelos-
ING O stds1ped. addressed aAvelope, TO
Etsarcsos Editor. Tho TRIBUNE, is4
Nossau Ssrest, NeU York CitE.
New-York tribune., 1922-11-03
Short Term Securities

Security. Rate, Maturity. BID. Ask. rtssal
Alum Go sao of Ana as' 1925. 1873 1os
A,s do Cotton 81 oii g. isss ss5s iss sss
Am Sun.atra Tob 7Sss, 'a5 50 100 ~
IN .et & Tel ss. 1s.s.. .1oey iotis ss
Am Thread Co es, 1925. .lo3ia 1921 S.as
sam Tob Co Us, 1923. .io1 1911.
Anaconda Cop Ca 1898. io0Ss 5ooS e..s
Ass.Am ~ OH on Ltd rus. s5 M los iSSss sIs
Armour & Co conv Is te30.lesia 1e47s ~
b & Q Il r col 6s, sgzs. 100 1o0s3 tss
Beil Tel Co Of Can rs. 'ss.iq3A .l0s bls59
Beth steel con 7s. 1923. .1o5is lo5S
. bs, isso. .I...s Ssk sses o.fSS
Can Northern ny 5s, 1895. esis % atss
DO ssas 1894. ssts les33 ssss sss
Canadian rae SIS. 1875. .sol 1914 ssa
Cons Gas OF N Y 7s. 1922 100 ioeS
Copper Esg Asso SIS. 'saioi& !cs ~
cssass a. -, IA psss Z "a isss..iaSSssss 1914 i1ei ill., ss
Federal sug So, 1sa4., IooH loost
spas aa oil e; sss 1898 s....-1es ses 1879 loa 49,
Hooking Valley Is. iasi.ioe% ioos 80
Jnterhoro cony Ss, 1922.. e7A sS rsS#
Kan City Ter ny 6s. Ia2sio9E sol sssses se
Lac Gas 1t 1st RET 10. '2e, 1o0x 1914 ss5S3s
Men 4 LIB Is. lssi.1oo ioi s9ssS sesS
Morris &.tso 5ss. 1850. 100 1oe gss{s ss
Sears Eoebuck Is. 1923, LOLA ie1s s;sss
sioss Shes 8 Iron es Isas. %: ssM 49, 49,
soisay 8 Co SIS, 1871. 1os ios ss9s
stPu D guar Sis aa2S.. .10oI 1oo% A.ass esS
8 O of N Y 7s,s la35-'S1. eata 1927 TEe
d. Siss, 19ss ;ss:.. 80 ..-,s1 1os iesss ssss SSss
& do 7s. osi.....s.s. tea iogA ~ MI
vacuum OIL Go Is, 1885. 1868 lofA esss Nss
ya.Ear chem SIS. lsss.. 1904 loeh s'ssxx
called for payment a. ici Sossnt1s' 4
So fes led tor payment At sesN rsnssss B
yHs 4XsSSs
New-York tribune., 1922-11-03

Southern Spot tMarkets--GalVeoton steady,
20 points higher at 24.2ec; sales 2.osf
bales. New Orleans STEADY. unchanged at
24c; sales 6.so5 bales. Mobile steady, un-
nah steady. 10 points higher at 24.25c;
sales 20s bales. Norfolk steady, 25 points
higher at 24.3sc: sales .os3 bales. Augusta
1913 bales. Memphis steady 20 points
higher at 24c; sales 1900 bales. Houston
steady. 30 points higher at 24foc; sales
5.o73 bales. Little Rock steady, 20 points
higher at a3.6oc; sales 2,27s bales. Dallas
steady. l6 points higher at 2ssec; sales
4.1o5 bales. Montgomery firm, 1a potnga
higher at o3S1c: galss ass bales.
New-York tribune., 1922-11-03

Sfaars ended June 80. SDstimated.
OF especial interest to security hold
ers is the rapid recovery in earning
power which the company has shown
during the current year.
New-York tribune., 1922-11-03
owfh of Revenues

Earnings for 1922 are estimated,
these estimates being based OH the
normal seasonal variations of both
gross and net taken in conjunction
with actual earnings to date of latest
monthly report.
The Chicago & Northwestern Rail
way dates from 1859, succeeding, in
New-York tribune., 1922-11-03
Sianhattan pigxly WiggIy

ss0eSsioh--WiH you ktndty advise me
about the standing OF the Manhattan
lsgy Wissiy chain stcree stoeks1 I
would like 10 invest littie In this &c Il
. safe. Awaiting an early seply, ]
ata--F. c.
Answer--As VIC have repeatedly said
"A this column, wo advise against the
purchase OF Manhattan piggly wiggIy
securities for investment. James W.
Elliott'a Business Builders arc not Of
fertng the actual stock for sale, but
temporary certiicates which are con-
gertibla into the shares in from three
% aye years. Tho certificates issued
gainst the preferred stock bear in
erect at the rate of per cent. Since
the company has made available to us
no balance sheet or income account,
yya havc no reason for assuming that
ths interest is being earned at present.
Funds placed Ill this self-servicc GRO
cery store promotion would not, III
our opinion, be safely invested You
would be spcculatiug In an unscasoned,
expanding enterprise directed by Mr..
elliott and his associates, who have
not yet demonstrated their capacity in
MS specialized business. Stock sales-
Aaen OF the Business Builders may talk
ptimistically about large future prof
IS, but ask them for specific facts
bout accomplishments either by the
Manhattan Piggy Wiggly Corporation
3r by any other concern whose securi-
les they have sold to the public.
New-York tribune., 1922-11-03
Cotton Statistics

Liverpool Cables-spot cotton fair de-
mand at 10 points advance; mlddling,
1444d. Sales, 5000. Imports. 10000;
American. $4,000. Futures were due 141a
to l6n points higher: they opened very
steady at I'll points advance and closed
barely steady ut net advance of 10 to
10 points. December, is.S3d; January,
1372d; March, 13.bid; May, 13.35d; July,
13.I6d; October, 12.b2d. Manchester:
Yarns quiet and firm; cloths a fair bust
ness doing. The II O'Clock BIDS cabied to
Liverpool follow: December, 24.42c; Janu-
airy. 2..19c; March, 2A.1sc: May. a4.o5c;
July, 23s2c.
Cottonseed Oil
The market for cottonceed oil was firm
and higher, closing at about the high
point OF the day with net gains Of 1e 10
80 points. Offers were small and we'll
taken and the market felt tho influence
of the strength In the cotton market ana
the firmness In lard. Total sale9 for the
day were 10000 barrels.
The range OF prices:
wed
Open. High Low Close Close
SpDk SS5 a 9.s5 $50
New-York tribune., 1922-11-03
Stocks Elk Dividend

Nov. 1o--American Tobacco Co..,
Nov. 10 do common b ........... B
Mov. 11--Asso Dry Goods Corp tst pr Is
Nov. NOV " ! 90 "a pr .'.....,....... 1as
NoT. lV-Cehtral II R Co of N j.. 3
Nov. 9-Consolidated Gas Co of N Y. 9
Nov. 3--Illinois Central II II Co. f1
Nov. s-Pressed steel Car pf. ...... Ia
Nov. 6-Union Tank Car Co 1s
Nov. g.. do pf. ~
Nov. 1o--Wociworth Co. q
New-York tribune., 1922-11-03
Livestock, Meats, Provisions

Yesterday. Year ago.
prime 100 lbs, S8.003i1.5o ---- On -
Dres ed beef,
r,Ss sides, ss.lt Ib., .o,, 900 10 .oo@ .1s
mon to prime,
100 lbs.. ........ T.50Gp1250 SsOm14so
u Sc d veal,
city, lb...... 100 20 .12D .,
Live ewes. 100
lbs. .....,..... S.Q09f1.6O 25o65 M
Dressed wethers,
Id. .14GD .iC - an .
Dressed mutton,
city, lb. ...... 900 IL nG6a "a
Live lambs, fair
nlts:., lss; :; 1s.ooel4oo 1aso 600
Hss: ss lqs lss o5sS aS sSs % ,sSS s5S 80 %
% con Ib....... .lsis@ .1e .144@.44x
rork. Dbl. ....... 2s.00@2s.oo 25.0n12s.35
Mess beef, bbl.. 15.50D17.oo 12ooGaII M
Lard, M dle
West. 100 lbs. i1.o5@lf.15 fo.a5@1o.s5
New-York tribune., 1922-11-03
PHILADELPHIA
Bonds

sAoe0 Bell Tel fn fs.1os 1os i0s f0s
1900 1900 Elec q Peo Is. 6oM 6sb 6sA ssM
S0oo Pen q Norm 5s 9Ss4 93G esq 9ss
200 Phil Co Con 5s 90 90 SO o.
10000 Ph Elec lat 5s 100 100 sgg. sas.
5000 do rs -. 100 1O0is 10 10oE
5000 do IS ..,...104 lo4 1o3s. 1osx
1000 w NY&Pa G. 4B,6t 81 sI Al
New-York tribune., 1922-11-03
Railroad Earnings
Colorado & Southern System
scellaneous Markets

Reg g. Cou (seriaD, 4xs,
lssS-ls5l Inc. $50 <.oS --s
New York State Bonds Sc
Form. Rate. Maturity, Etd, Ask. Yief !
Canal and Highway Es