Pittsburgh Sun-Telegraph from Pittsburgh, Pennsylvania on November 21, 1929 · 31
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Pittsburgh Sun-Telegraph from Pittsburgh, Pennsylvania · 31

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Pittsburgh, Pennsylvania
Issue Date:
Thursday, November 21, 1929
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31
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Oflfr D'Trfmnf. RTUnt It-VHt THIRTY-ONI! TIIURSnAYT NOVEMBEg.gl.ig!L EVENING SUN-TELEGRAPH Local Hlarket Improves mu-ind m only crunt T7tn riTTKrTirnT sTry-nrrcn vrrr 1 1 Some of Recent Leaders, On Profit-Taking, Start Day at Lower Levels NEW YORK, Nov, 21. (AP.) Stock prices moved irregularly higher at the opening of today market, but some of the recent leaders opened slightly lower on profit taking. U. S. Steel end American and Foreign Power de clined a poirft, and Radio. Montgomery Ward and several others yielded fractionally. Waripn Bios, jumped 7 points and Westme house Electric, Onion Carbide, Pennsylvania and General Elec-tiic opened a point or so hither, ' Borne ii regularity developed at the opening as traders showed a tendency to take profits after the brisk rally of the tvo pieceding sessions. Reduction in the Bank of England discount rate from 6 to 81a per cent, with a similar decrease by the Bank of Norway, was announced befoie the market opened. Early selling centered largely in such issues as American Can, General Motors. Radio and U. S. Bteel, but the declines were small. National Biscuit dropped 3 points on the first sale, but quickly recovered Its loss. Auburn Auto fell back 5 points. A brisk demand was apparent for some of the Investment railroad shares. Norfolk and Western ran up 6 a points. Union Pacific 3 and Chesapeake and Oluo 2 4. Among the many other stocks to point upward at the start were American Sugar Refining Consolidated Gas, Gianby Copper, North American Comnanv, Reynolds Tobacco B and R. H. Macy. Foreign exchanges opened Steady with sterling cables quoted of a cent higher at $4,87 9-lfl. DONORA, Pa., Nov. 21. Announcement was made here of a construction program by the American Steel and Wire Company, calling for the erection of additions to the mills, at a cost estimated at $6 000,000. One appropriation of $5,000,000 has been made for the building of a new continuous bar or billet mill for the Donora Steel Mill and two new double-line, 18-stand rod mills for the Donora Wire Woiks All mills are to be electrically driven. An additional appropriation of $1,000,000 has been announced for the erection of a .stock house at the blast furnace, the Installation of bin lorry cars, coke-screening equipment and skip controls. Work on the new projects is to be , started immediately. Structural steel contracts have been let to the American Bridge Company, of Pittsbuigh, and the balance of the work was contracted to Arthur O McKee & Co., of Cleveland, O. The announcements were made by C. J. Brown, superintendent of the Donora Wire Mill, and A. Fred White, superintendent of the Donora Bteel Works. INVESTMENT TRUSTS I NEW TORE, Nov 20 Fallowing a? today i bd and flaked quotations on Jfi vestment trusts. JLondon A JCmp forp Part, so 40 Am it Overtons Invest Corp,,, HO 111 All Amer Onl Corp 11 14 Amer A Continental Corp. 20 22 Bankers fwitl Investing corp.,- 20 30 Nanduia Corp .. .... ,., 17 British Type Invest nW It 124 Colonial Invertors Corn, ., 22 214 Crura A Foster lush 75 5 ' " loft 92 24 , 22 18 44 m 38 19 18 32 37 10 59 H 9 65 57 19 25 U 1 M Do preferred 97 1)0 Inc B. ....... ,,.,4,,,,. 80 Chemfo-il Nntl Aran 21 iPIi-'fl(-ii Trustee ttharr. Jj,,. -Do B , Continental Shares Chatham A I henix Allied.,.-, Joiity Investors ixd Trust Shares A.. ... 1)0 B , , Incorporated Entitle ,.. Incorporated Investors ,,. Investment Trust of N Investors Trustee .Shares ot Inti Carriers htd Mohawk Investment new,... N Amer Trust Hiares Oil Shares Incorn unils ..... pow A It Feumtips Trust.--Public t tlllty Hold oCrp. , fieiuritles Corp Gen ... B w Straus invest Corp new Do units , . fteennd Inc Eoultjet ... ti s Metric it A Pr Pheres, tT ft Kle'Urtr Power Corp United Founders Corp.,..., 41 CHICAGO BOARD The following quotations on the Chicago Board of Trade are reported ty A E uastwt A Co.; , Tear As Yesterday Onen'g WHEAT tMo e Close Todiiv December 115 11 121 li.t Marth 121 8 t, 1 ?0 May ............ 124 i;n.135 Dtcemher ;., 88 i IM ircl ,,,, 3 Mav . 81 OATS December 48 Nr' i tTvr-"" 47' PtH.mber .,, t OSH Marctt ,, 108 'FaRO- December 11 57 .Innuaiy .... 12 03 132-4 mi 11 Wi f ins December January May .... 12 05 ... 12 27 48 4h 60 Vk 99 1 02 I 02 10 12 10 90 II 27 10 50 11 2f II 00 lu4 91 m 61 100 65" 10 27 11 28 11 90 BANK CLEARINGS Pittsburgh Exchanges today,,. $34, 756,033 7!) Balances today 14,018,88138 Exchanges week ago 40,066,003 IB Balances week ago. . 17 288,482 48 Exchanges year ago 38 609,700 18 Balances year aco. 13 252,194 55 New York, Exchanges $1,405 000,000 Balances 240,000,000 Credit bahnea 142,000.000 iJni ted States Treasury Receipts Nov. 19. ,,.$ 7 413,498 Fxpendituies 8 035 339 Bala nca 129,119,727 Forbes- Alany Industries In Urgent Need of Superman - By I, C. rORIlCS " ANT CD; Supermen. HAD the original J. P. Morgan still been alive and active, Wall Btieets forces would have been promptly marshaled to fight the Insensate demoralization which overtook the stock market. At times of prises, J. p by unanimous consent, became Americas financial com-uiander-in-cluef. And when he gave orders, no banker dared to disobey. Morgan became mighty, not because his resources transcended all otheis but because his downright honesty was recognized by every individual and interest In the financial world. Wall Street possesses today no trojan standing head and shoulders above all others. 7 he house of Morgan Is. indeed, infinitely richer and greater ill its ramifications than it ever was in the days of its founder. But the present J. P. Morgan never aspned to fill the role of America's active financial commander-in-chief in succession to hi fafher. Thu3. Wall Street has no superman m Its hour of need. yiIAT would a Mussolini have ii been worth to the oil industry of America and of the world In recent times? What would he not have been worth? Kad there been In the ol! industry a 'towering superman, one whose leadership would have been unquestionably accepted bv other leaders. Think If the billions of dollars of iniquitous waste v hich could have been prevented? If such a suoerman could have Issued effective decrees to stop over-pi oductlon, to abolish ci irnmal-ly wasteful methods of exhrust-Ir.g the earths storehouse of oil and natural gas, to forbid senseless duplication of drilling, he would have conserved priceless, irreplaceable natural resources for which there may one day be the direct need. True, Sir Henri Deterdlng abioad and Walter Teigle at home, both giants of great vision and ability, tried to bring about moie sensible conditions, but they have not been able to overcome the forces operating against them perhaps partly for the reason that they were looked upon as Interested parties, whereas the late J. P. Morgan was never, In a crbls, even remotely suspected of desiring to play selfishly into his own hand. THE worlds sugar industry Is demoralized. T. C. Ulbright, vice president of the American Chamber of Commerce of Cuba, who has been visiting the Philippines, was quoted yesterday as saying in Manila: "I have observed that leaders in both political and Industrial groups concur In the opinion that one of the first steps here should be the voluntary limitation - of the Philippine sugar production. We have reached the point where something must be done In a big, broad, international way to place the whole , industry on a more economically sound basis through international co-operation." In other words, a superman, able to dictate to the world's sugar producers, is what is needed to evolve order out of chaos, profits to place of losses, PERHAPS the worst-managed industry of all has been coal. Its history has been blackened by periodical upheavals involving dislocation of general business, fuel famines, starvation of miners. The coal industry has always lacked masterly leadership,1 leadership acceptable to producers, to miners, to consumers. Nor is any superman yet within sight to re-establkh the 'industry to public confidence. i THE woolen industry needs a superman not of the William M. Wood type. The cotton textile industry needs a superman. The . cement industry needs a superman. Cotton-growers , need a superman. Wheat growers need a superman to direct their marketing. The lumber industry needs a superman needs it very badly. The rubber industry needs a superman. A NUMBER of Industries have found so-called "czars." In 'm""t In-tni'-e-;, the results apparently have been reasonable sat;.' "ctl-" ell rrranrl. Jtfclge Cr-y for tong was the superman rf the st"' industry, He ciid not try to r.ilc with a rod of Iron, but attained his far-reaching influence by example rather than precept. It Is Interesting to reflect that this influence became greatest after competitors recognized that he was ready to consider, not only his o wn company, but the interests of competitors and also the public, Herbert hoover proved a superman in directing wartime relief for stricken nations. He Is now confronted by another task demanding the qualities of a superman. Will he prove able, after calling together leaders from all our Following is the list of transactions of the New York Curb Exchange. giving all stocks and bonds traded (00 omitted In sales column of stork list; COO omitted in sales column of bond tot) : - STOCKS. S!M. . 1 Aero Tndus I Aero Under 1 Ainsworth.. 1 Air Inv vtc I Airstork vte HIkU. 8 177a 184 37 42,a 1 Ala Gt 8 pt 117 1 Alex Indus, ' 2 Aleg Gas . I Allied Mills 10 Allied P&L. I Do 1st pf 5 Allison DgB 3 12 40 '4 75 1 to 11. 81 8'i 17, 17 1m 18 134 34 3 424 422 117 117 3 3 5 S 124 127i 385', 33s 754, 753a 1 1 2AlumCoA p 106 106 106, 344 34 S 17 17 a 23 233a 44 4? 3-18 3-1B 234 29 5 6 17 174 48 li 623,4 1 Am Arch., 34 14 AmCP&L B 18 47 Am C Fw A 23 3 ACP op wr 4 20 Am C Oilf. 3-18 117 Am Cyan B 30 6 A Dept St, 6a 4 Am Equit., 18 7A&P Po wr 6234 2 Am O & El 118 115 115 6 Do pfd., 1034 101 102 10 Am Inv B. 10 97, 10 4 Do war,, 50 A L Mch, . 2 Am h in T 10 Am Maiae. 2 AB&C pt p 136 Am S Pow 2 Do 1st pf 2 Do pfd., 5 An Post F, 1 An A vo cd 1 AMO n v e 2 An C Cn N I Arc R Tub 1 Argo OH... lAliz Globe. 18 Arkan .... 25 Ar Nat Gs. 12 Do pf .. 6 An N Hold I Am Com,, 1 Asso D & P 12 Asso E I L. 4 As G&E A 2 Do deb rt 2 Asso Rayon 2 Do pf ... , 1 Atl C F ... 2 Autom V M 1 Do cvpfpt 1 Axton F TA 40 40 25', 25 V 8 8a 17 17 Sahla Corp 1 Do pref.. 1 Bickford ,, 1 Do pfd,, 25 Bige H C. . 2 Blaw Knox. 3 Bliss E W. 21 Blue Ridge. Do evt pref 1 Blumenthal 4 Brill A .... 2 Do B ... 2 Brillo Mfg., IBritAm TB 1 Brit Celan, 2 Buckeye Pb 4 tBudd Vh. 3 Burma Ltd. 12Bwana MK 9 Cable&W A 2 Do B 3 Do pf ... 28 CAM Co Vtc ,2 Do pf . . , : 7 Can Mar W 2Carib Syn.. 6Carna Milk 1 Carneg Met 7 15 Cater Trac, 57 3 Celanes Am 3 1 2 Do 1st pf 82 3 Cen PS A. 33 15 Cen Sts El. 22 7Centrifug P 57s 2 Ch Strs Stk 14 lC&On... 51 2 Chief ConM 2 33 Cht NW its 5-18 250 Cities Serv. 30 1 Do pf ... 88 I Do B pf. 8 3 City M & T 24 , lCleve Trac. 20 3 Colg Palmo 57 49 Colon Oil, 7 10 Corn Edison 234 9 Com Pow p 45 Com & S w flComst Tun 1 Com W Wk 2 Con Cop M 3 Con G&E B 2 C Gas Ut A 12 C Ldry Co 50 C G&E p pf 1 Coop Bess. J 3 Copeld PrA 1 Cop Range 2 Cord Corp, 2 Cor & Rey. 4 Do pfd A . 5 Creole Pet. 5 Crock & W 10 Crowley Mi 1 Crystal Oil. 2 Curtiss Fly 15 Curt Wrt w 897 4 14 674 93 23 10 87 33 6 17 1274 1874 78 7 7 56 29 81 3334 21 534 134 51 ' 30 884 8 24 2Cfe 56 7 233 984 34 7 56 y4 29 81 334 224 57a 14 51 2 3-16 304 884 B 244 204 57 19 233 997a 4 14 6'4 93 2.1 10 M 33 54 14 6S 937s 23 lOV 97 4 33 6 173, T74 134 124 1614 16 74 75 77 64 7 2474 221 224 327, 41 974 3 30 41 9 2 327 41 94 2a man. Success to him I tcapirri&ht. U-0, By IU C. Batbu.) 10 Dixon Cru. 1647, 1644 1644 125 Ed Piet pf . 2 Eiser El. . 247 El B & Sh 20 1674 7574 !0V 20 16 16 731a 75 it 1 E p Ser wr 6 EV Wal Bd 17 614 17 a 8 IM. 3 Fab Fin .. 4 lag Mot... IFreh Av A il'rt. 6 3 4 64 low. 6 3 . 4 64 13 IS. 6 3 47, 64 3 Fer En A., 5 Fiat rets... 2 Do de rt 56 23 - 2 Fran T&R 3574 68 22 3 3574 58 22 3 35 2 Fst Na Cor 9fok Arcrft. 2 Foltls Fish. 5-16 5-16 5-16 2 Do pfd. 6 Gen Bak. , 15 po pfd. 36 Gen E L rg 11 2 Gen El Gcr 38 2 Gen Empir 26 f 78 4 55 U 3874 25 4 557, 11 33i4 267a 2 Gen Fireprf 307 3074 30 17 16', 16 15 12 Vi 40 14 78 327, 20 j 118 2 Globe Und. 14 14 14, 22 Gold Com,. 3-18 3-18 8-16 1 l4Gld El El., 6, . 6 67, 5Gld C Min. 4 3 4 Stl-c. 3 Peo L P A- 44 Pet Corp -5 PhiLp .Ior ipniippe ii. 1 1 FKf.8 Gov, 4 Pilot Rad A 2 Pitney B n. 2 Pgh P a .. 2 Plymouth . 3Polymet Mf 1 Pow 6 Co p 2 Pr & White 2 Do pfd . 2 tPr Bilk H 18 21 Prud Inv 17 4PUHCoww 177, R 2 RL Prod A 12 7 Do B ... 774 2 Reiter Fost 3 1, 18 50 8 177, 50 9 ', 31 15 15 177, 11 6 2 187, 60 9 31 15 15 17 11 674 3 2 P. Cent Pw 2 R L&P tr e 2 R Royce 14 1 rtt Rf rv pp 1 Ross Stores 2 Ruberoid ,, 1 Dud Guen. I R Fifth AV I Ryan Cons 31 22 11 20 4 51 27 18 4 11 St Regis- P 20 2 BaltCr Con 2 1 Do Prod.. 10 2 Schl & Zan 15 2 Do pfd.. 31 1 Bchulta RE 10 4 S U 5c-$lS. 674 30 21 11 20 1 474 51 27 16 474 20 3 10 14 31 3074 21V, 11 20 474 51 27 16 474 20 2 10 1474 31 1074 10 47, 57, 30 Gt A&P nw 225 214 214 10 , Do 1st pf 1154 1154 1'5 1 Green T&D 13', 4 13 13 SGroStPvt 11 10 10 2 Guard Inv. 4 44 44 8Gul O C Pa 13574 134 134 II lOHaygar Cor 354 34 854 I Ha7elt:ne .. 22 22 22 83 H Wal G-W 12 11 114 1 Hires Co... 24 74 24 24 I Holl G Mm 47, 474 4 4Hor & Har 4274 427, 42 5 Hous G Gs 11 11 11 38 Hud B M-S II, 10 10 18 Hum O&Rf BO1, 887, 89 8Hyd El Ser 38 37 37 3 Ilygrd Food 12, 12, 12 I 50 HI P Bine. . 2624 2624 26274 28 19 234 30 567, 61 20 14 22 6 387, 28 2874 18, 19 23 3074 65 V, 234 30 554 60 61 198 20 13 4 13 54 214 54 37 224 574 37 71m O Cn n Und Ter Oil limp T Brit . 3Ind P B n. 3 Insull Util. 7 Ins Co N A 2Insur Sec., 17 Ins Share A 2 Inter Pet.. Winter Pet.. 4 Inter Prod, 3Int Super. 9 Int Util B. 5 Inter Equit 2 Do evt pf 1 Inter Hos.. 5 Irving AirC llsotta Fras 3Ital Sup A. 1 Do db rts I ?2 Kleinert . . 2 Kolbter Br, 1 Lakey F&M ILane Erynt lLehi C&N.. 1024 1024 102, 23Lehmn Cor 73 2 Leonard Oil 6L McN & B lLily Tulip. 1 Loews db rt 2L S Gas n. 8 Lou B & E. 27a 18 184 15 34 3 M lMMarr Sto 244 384 174 1 10 38 24 23 lOMargay Oil 3 Mavis Bot, 6 Mesabl Iron 5 Met & Mm - 1 Met Ch Str t I Mid United 81 M West U n 70 117, 2'a 274 174 18 1874 1874 15 15 334 33 37a 3 24 24 4 Do pr pf 51' 50, 4 Sen Saf C.. 1 Ehattuck D 1 Sbeaff Pen. 4 Shenandoah 6 874 594 " 5 8 694 84 504 5 8 59 84 u .4 Unity G M. 74 50Uth P&Lpf 102'a 12 Util Equit.. 14 58 19 Util P & Bt 16, ' lOUtil ii I.nd. 207, 2 Do pfd.. 23 V 7 102'a 102 13 14 14 JVacum Oil. 98 3 Van C Pkg. 1374 2 Do pfd.. 144 2 Veeder Rt. 387, 1 Venez Mex. 77 16 Venez Pet., 24 13 Vick Fin.. 87, 1 Vogt Mfg.. 19 vv 3 Walgreen .. 6174 6 Watson Co. 1 7, IW'ayne Pp. 11 . 4 Wen Con M A 1W Ar E-p 304 25 W Mld It p 85 4Wll Cafe.. 94 z Zonite Prod 2074 . 20 16 20, 257, 93 16 SO. 28 98 13 14', 14 334 33a 77 2 8'i 13 77 27. 87, 19 59 61 174 174 11 11 74 30', 3074 5 85 874 9 4 2074 BONDS. , Abbott Pair 6 42. TH lOAmnama ,, 12 A . n nu:8 0 5. , Amm.riuai Id,, 8 87 1, 97 6 AH A? 04 bi 43ww 90 90 t9 A o t n w Po 6, 4ft l'.l 101 U 273 Aal OwE 6,28 .. 98 M, 48 Am P tlLI 2018. 103 . 102 'I It Am Hull M '4. 9' 11 Appal Pw 8 . 9, J5Arloa&Lt 6s 08 96 , 4 Aa S.m H6 . 33 4, IIAbsj T rt51!s44c 10, las AIU PUw 6 -s 43 ,, 64 I Best Cons Gists 47 103 l'O 8 Canada ,sA 4T 88 85 10 Cn N RvPoNk 3S 307 107 47 Carolina P&L5t 50. XOOii JuO 61 Ctnt HI .., M. 75 74 18 IO 6 '46 .. . 721, 11 10 Cent SP&L5t-f3 M 68 lls S lO- 97 90 In S 101 a Sl K4 8. . 9'1f ear sai 1 C'n 6t CarSVAW 1 C tes Sfir 5 60 . t CiUSB GftitWB 43 69 f3 9 97 2 Taggart 2 Tampa EL. 6Teck Hugh. 1 Tenn Prod. 2Texon O&L 2 Third Nt In 2ThompPr A 5 Thom Star. 1 Do pf ... 3 Todd Ship. 2174 53 574 12 12 2974 23 8 36 47 33 Torrington. 4474 38 174 1 37 1 1 9 10 33 38 24 244 27 277, 107 107 164 1774 101 101 36 36 874 874 .41 Do pfd n 10774 6 Mo K PL, 17 125 Moh H 1 p 1017a IMor Elec , 36 8 Mount prod 874 N 8 Nat Amer. 11 107, ,7 Nat Avtatn 13 10 4 Nat Fam S 13 17 !Nat F Sc G 27 27 18 Nat Invest, 17 16 INat P S A. 25 25 INat Screen 1774 1774 1 Nat T Jour 6 8 3 Nat Trans.. 214 21 2 Nat Un Ra, 9 7 a 9 2 Nauheim P, 2 2 tlNehl Corp. 174 174 INelso C(H) 257, 257, 1 Newby JJ C 55 65 2 New Bradf, 3 274 30 N Eng P pf 91 9014 1 JNcwmon M.133 130 1 Newport Co 2374 26 SNYInvesto 27 26, 1NY Pt Roy 11 11 50NYT 6 pf 112, 1128 lOONiag H P 144 144 9 Do A war 4 2 Do B war 7 SNiag Share 217, 2 Niles B Pd 304 2Niptss Mm. 17, 20Noran Min.. 37 15 N A Aviat, 674 1 North P B. 43 2N S Pow A154 O 3 774 , 21 29 17, 36 6 43 15374 10, 127, 18 27 16 ' 25 1774 6 2174 ! 17 25 55 3 so, 130 2674 27 11 1124, 14, 3 7 21 30 1 36', 6 43 15374 2 tPennevApf 5 Penn Mex. 19 20 1774 20 30POEd pr pf 1034 1034: 20 Do 6s pf. 90 90 60 Peunroad . 1674 1674 19 20 .034 90 16 2Tr Air Tr. BTrLDPA 7Tri Con A1 25Tri C Corp 2 Do pfd.. 2Tr Saf Gl. ' ITr Pik Sto 27 47TranAm rt 5-18 10 Tub A S B 172 1 Tng-Sl Bp, 2174 . ' U lUlen & Co. TDaNGC. 61 Union Tob. 4 Un Car Fas 1U qh pt Pf 22 Un Crp wr 8 Un Dry Dck 207, 53 574 12 1174 2974 23 8 36 47 43 67, 57, ,54 174 787 8 27 5-18 1727, ,217s 20 28 1 1474 34 -1274 7 2074 52 5 12 11 2074 23 8 36 47 43 10 5 54 18 7 8 7, ' 8 27 5-16 17274 217, 20 28 1 147. 34 1374 7 20 Cities B P 6-4S '62. 2 Cora Ert 4 a D 57 T C rat G&E 5A 5 . 3 Cudahy I 27 30 Do 5s 48 . 20 f GO sASTwnr 2bi P NG 6- Uww S3 5 Do 4ei 3S ... . M J Empire 0R 5H 43 ted Water 5St '64 92 9 F4reston CM 5s4ft 594 35 FJrestort T 5s 42 91 . 65 5 s! rar 72 59 S3 84 MU 97 H hi lt 71 95 94 91 hb 92 9 51 84 88 97 H, 84 95 72 H n 894 62 4 Fift PAL, 5 54 , a 82 81 81 llQaMneau P 8s '58- 924 WMi 28 GeuThe Eq u'il! 1-1 106 Xn5t 2? GaJtOJ fy'!, - !, HI P. 97 97 100 jrii) 99 934 1! Kop"5 AC 5s '47 5 7 Pow8 A 02 X02H 10i 5 Ixiuts PdrL 5b 57 , 90 9'H 90 8 Vanttbo P 5 , A 51 96 95 9j 13 Maas Gas 5ty 46. 1014 101 101H 75 Mi R P 6s 44 w 101 1004 loO 8 Mun AS 6 s 37 103 101 J 1 17 Narraan 5b 57 .. 98 97 98 SO Nat VA L 6sA20k6 102V4 lo2 12 17 Neh Pow 6b A 2 u22 1'3 io2 lu3 , 102 NY PAL 4bB '67 93 92 93 Nor In P Sr 5eC 66 9ft 98 99 I Nor 6t Pow 6it'3 2014t 1014 lol 9 OHO Po 48 D 56 9i 93 94 4 1 Pen D A Wr 6s 49 93 934 9- 2 Phila Ei 5 48 72. . 102 102 102 v n Poof A Co 6t 39 109 108 109 17 Pow Corp.NV5vs 47 93 6Roch Cent P:c63 764 10 Bt Douis GAC 6s 47 80 10 Ban AntPhivcftfcfi,B 944 8hnasheen 7b 21. 95 48 Sh,i tn OU 5s 49. . 97k 5 Buica Gel 8-4s32ww 99 98 5 Sr. der Pack 6a 32 frl 64 JSOBPAL'es A2025w lf'2 JOIS' 102: booth Cal Fd 5 44 101.4 loJ $ Do' 5s 51 I South Nat Gas6s44 99Vh 91 8ft 69 W 91 89 I 99 W 91 5ft S S wet GftE 6a A 57 914 61 4 5 8 west PAL 6a A 22 3024 12 1024 2Un Pf Sh. 2Un Rep B. 3 1 Nat; City Banks Policy fended . . WASHINGTON, Nov. 21. fAP.) How the National City Bank, of New York, one of the most powerful financial institutions of the world, loosed its , pure strings to advocate lesser duties on slgar during the tariff dispute was related todav to the Senate Bobby Committee. Aitparing as a Witness before the committee, Gordon S. Rent-sciiler, president of the bank, testified that Its monthly bulletin, which cost $200,000 a year, was used to disseminate material on the subject and that a. direct contribution of $10,000 had been made to a fund for use to presenting to Congress information advocating a low tariff on the product. -v Mr. Rentschter was not asked and he did not volunteer to estimate the proportion of the $200,000 annual expenditure for the bulletin which might be charged to the Item of sugar duties. The bulletin, he said, was issued for the discussion of general business conditions, and he expressed the opinion that his company had a right to give its views on any economic problem. Asserting that the bank was forced Into the sugar business after the depressions of 1920 and 1921 In order to save be-tw-een $30,000,000 and $35,000.-000 in slow or doubtful loans in Cuba, the witness asserted that the institution would liquidate its holdings for 'a fair return and did not intend to remain In the trade permanently. . . lSS-al-y Mfs 6a '4, i H8 4, lend pu 6- 57 3H 93 1 SJil Oil 5Ui '39.. 99,4 es, 10 Swift Co 5a '33 . 9 99 35 Texaa city O 5a 4S SI 7BH 43 Tax PAL 5a 56 .. 9S, 66 13 Ulen Co 6a '44.. 694 6914 I Ln LA Ry 6aA5g. 98 96 4 JU S Pub 6a 30 ., 97 7 26 rtll PAL. 5a'59-w. S3 79 a 8 Vaivotine Oil 7a 37 103 1"3 10 Waldorf Aat 7a 54 103 103 8 W Sc.l Ea) a '44 90 ,5 FOREIGN BONDS IB A Ires Pr T'447 ino 100 3 Chile Cons 7 80 . 9014 90 25 Chile 6s'82 SS, 88 9S 9iS 99 1, 99 81 97 89 V 96 97 V 82 103 103 85 100 90 .. 88 3Com F'r '&"& 37 .82 82U X Cuban Tel 7' 1 4i 103 lull. 103 - 6 8ft 874 ftli 83 ik 7fiL'i 81 6'-t 64 6 9 Fast PrusladBfeS 30 96 1 Finland RVIBk 6s 6 173 9 Frst BoG7s57ww 8ft 10 Gelsenkirchen 8s 34 87 5Gef Cons Mu 7b 47 91H 18 Do 6s 47.. - .. 63 4 Hamburg El 7 35- 99 H Prussia FS 6Mr 51 904 18 Do fit 52 , .... '4 " 6 Ruhr GC fi'diA 53 17 Rumanift Int 7s 5ft 396 Ru'bian lft 4 Do 6BCtfsVCl 410 Do 5a 1U21... H6S? 84- 76 4 Sl 6 64 74 96 73 89 91 S3 98 90 84 4 764 81 8 2 Ji vl rv ""ActuaT sal at, tEx-dividmd. JEx-riphta, (Under rule. Cities Service Net Sets High Record NEW YORK, Nov. 21. (AP.) Net earnings of the Cities Service Company for the year ending October 81, were the largest for any 12 months to the history of the company, amounting to $40,497,-731, the company announced. The October earnings were $3,874,349, a high record for any company month, and comparing with $2, 891,169 in October. 1928. After allowing for preferred stock dividends and other charges there remained out of the 12-months earnings applicable to common stock and reserves, $28,941,426. or $1.13 per common share, an increase of $4,425,327 over the corresponding period last year, - Brazil to Pay Loan Interest to France PARIS. Nov. 21 AP.) Announcement that the Brazilian government had given Instructions for payment on January 1 of interest coupons on the 1911 Brazilian loan iloated to France was received with favorable comment in financial circles here. The payments will end years of litigation. The announcement was made by the ministry of foreign affairs. Plate Glass Output Higher f or Oclober Production of polished plate glass for October was. 14 620 904 square feet, compared with 14,-010,681 square feet in the preceding month and 11,140 217 square feet in the corresponding month last year, according to Plate Glass Manufacturers of America. Bank of France. PARTS. Nov 21 ' Th wofkly of the Rank of Fiance -howa ihw chnny In franca. Gold lncrcnaoj 241 000 000 i.it hatuntPB abroad, 17ft 000 h Mb discounted At home dcctt'acd 97M mn ooo bill briicht abroad, Inrreien. 2 000 000 ftchsnces deerca d 40 000 0nn circulation, decreased 517 0)0 000, current, imiunu, Intruded 39,000,000 Jlftlft of I discouut 8V 9f cent STOCKS BED 0!, LOC'L 1IET Better Grade Industrials Display Improvement 2s Fuels Held Recent Cains A more spirited upward tenth true by the gnat desire of!denc7 noted in securities managements to reaure their on the P.ttsburgh Stock Exstockholders. halt the fright change today. Prices of the which prevailed and check some fuejs did not show any wide of them from emptying out J changes but several industrial advanced 2 to 4 points. Ecttcr grads Industrials worked out of the deprp--s.on into ah.ch th-y Bagged over the past few sessions ar.d some of the more speculative issues moved forw ard sharply. Armstrcr z Cork was t o points h-gher on the opening, while Pitf burgh Plate Gass was up a po-nt at the start following the establ''hment of a new low yesterday. The early gam in Plata was extended tn subsequent dealings. Copperweld Steel ru'hed up about five points tn the first hour, but th-re was no explanation of the advance other than that traders were sh&kjxff off the nervousness hanging over from the big slump two weeks ago. Tne stieet strong boxes tn their haste to get out of them investments. , The Income tax wifi be a factor in the market between new and the year-end. Traders and others will be evening accounts either to take advantage of the reduction planned in the levies on 1929 incomes, or to establish losses which can be deducted. As s result, there should be buying end selling of stocks which could cause quite some irregularity at times, fTHOUGH output of furnaces and A mills have shown further contraction during the week, the Steel Trade Journals report a much better spirit prevailing both among steel buyers and seli- has been discussing a rumor that ers. The atamina which business Copperweld may be merged into generally has shown in face of the Anaconda Copper group the heavy break to stocks, they, through Anaconda Wire and find, has gone far toward restor-s Cable. Gossip puts ths deal on a ing confidence in the steel trade share-for-share basis, but there where it had been shaken. Though has been no official ilit.ma tion. production has fallen off some-, tnat such deal Is even In prospect, what, the rate of consumption is holding up with no indication of general curtailment and with most leading lines holding their own or Improving. The approach of the Inventory season is remarked as likely to have some effect over the next little while, At present prices, gold dust Is selling almost 50 per cent under its recent high. As a result of the decline, the technical position of ths stock is believed to have been materially improved and those who have been following the eompany are of the opinion that when the market again rights itself, this issue will prove prominent on the upside. Earnings estimates for this year run as high as $4 a share, against an annual dividend requirement of $2.59, Around present levels gold dust yields approximately 6 per cent. SINCE the start of the week. United States Bteel has been prominent on the upside and market observers are looking to big steel" to lead the list out of the woods. There Is plenty of ammunition on which to base operations for the rise In steel. The directors have declared an extra cash dividend of $1 and stockholders will more than likly receive additional returns after the start of the new year. Regular annual dividend rate of $7 a common share will be earned about three times over in 1929, which will mark the greatest peace time year in companys history. Ambitious program of railway executives, recently outlined at Washington, wifi mean a good volume of business for steel from this source. Close observers were satisfied that the market, in moving further ahead on the recovery yesterday, was forced to wade through a good deal in the wav of selling pressure. Considerable profit taking was being done by traders who bad bought for a turn at the lower levels recently prevailing, while, at the same time, it was evident that npt a little of the stock which had been bought for support purposes by one means or another, was finding its way back to the market. Scattered selling of that character was reported especially evident in steel common, where one broker, who had been a heavy buver on the break, was on the selling side yesterday. HOT OITFOT ST Average ingot production to the steel Industry is now down to a shaie over 71 per cent against about 73 per cent in the preceding week and between 77 arid 78 per cent two weeks Rgo. Independents are under 70 per cent against better than 72 per cent last week and a little over 75 per cent two weks ago. United Stitw Steel Is at 73 per cent aator 7L per cent a week ago and a frr.itlon over 89 per cent two weeks ago. At this time last year United States Steel was running at between 79 and 80 per cent with independents at 82 per cent and the average was about 81 per cent. The National Association of Flat Rolled Steel Manufacturers, which Includes practically alt the independent sheet steel and strip makers of the country, reports operations of mills to the past week as follows: common sheets black and galvanized, 69 percent: full finished sheets, 49 per cent; hot rolled strip steel, 28 per cent; Cold rolled strip steel, 27 per cent. Subsidiaries of United States Steel Corporation are not members of this association, but activities of plants of the leading interest on these products are at practically the same rates as the tadepend-nts. Full finished sheet mills as well as the hot and cold rolled strip plants are feeling the effects of the dearth of business from the automotive Industry. ' Liverpool Wheat Market. ttVFRPoOU Nov 1 Vhftt du u I trc ft ()Pfnd ulchBngfd to ofhfiv up And ftt 1 JO p- so u i l to 2 pac Ujfc W, Do.,.. . Do. .. - Do. .. Do ......... ... Inrrfttfoftal Rustift Iron., snamro a O I A Gas ftevient PubLo Servlcft.,,. Do Do. n ' Do - .. Do. W4 Po. ..,. ., Do. ,.. l. at 200 at at 51 at 10 at oo at lr5 at DO at loO at 210 at 25 at at DO at i,o. . , Do. 10ft at ii U 45 isl 5?- 46 4ft 4S 4$ 4ft 50 2 15 23 55 hi DIVIDEND NEWS fab. ftaUroaib. Con.oliealed Rrod ol Cub. eclrl rcuar qaeir rly dividend of IS par cenl Sn 3tS ux prarrtrt stock. PAyab Januarr 2 to reccrd Deiember 1 . and Cuba Kortbern ivu trvais of Cuba, b diary 1 4 ,aid aec.ared lha urutU annual d dend i of 4 49 a hare. paabi Lacaibef 2. to recoi aame date, Ceneral Case Eitra. General Oai and Electric Corpo ratio declared xfra dwdends of 50 cents .& ea gau A and B cotcmco stoukB, rayao Jatuan 2, to record Noyambef 29 civ.dends may b applied ta the of ctmmoD A' fttocA at a altan, ' White Rock Ettra. Whitt Rock Mmerai spnnKi declared aa extra dHidend of ftl on common and 5 on eerend preferred and wuar quamery dirieniB of 75 cents on common and ft 1 9 on first preferred and $3 75 on lecond preferred aU payato a January 2, to record December 20 i GeocroJ Pnblis eorrlea. General Pub 6 Service declared rerulat semi-annual d'Adend of 3 100h ot a 7ftrs o cnimjoa cn eonToo 8iok, pay-alia Deeerrber 31. to reco-d DecerHer 2f and reruar cuarterlv d videnfi of Si 37 re on S5 50 preferred and SI 50 on ft6 preferred pa .able February h to .record January 10, frown 55Utlamrtte. Crown Hnamette Paper Company d dared an lr Uai qarterb dvtoeod of $1 on tbo comutt atun'k, pbdr iru on n $4 mat bn' , paiabie D-oecrbef i-t, to monl recemer 13 The ret -qnnnerlv dUldends of $1 75 on te flret preferred and on the second pre f erred re also deeTared, payaolo January to record 13 H. C, Mohuek fxtra. H. C P'hack CnrepaY dec'tired ftn ox tr dividend of C7H rente on rayabla Dekmbft 15. to record Noveaosf ja- PIVUirNM ( MHINGED, . Favabe Peeorft Tevns fhilphtef tl fl., Pec 16 nec f So4e n? $1 25 sft IVC 20 Nov 36 Suty $1 23 q ,, Jan 2 -D-et7 NipiA' na V ire. Tv C q Jin 21 I'Ve ?t InternvT 53lt pf $) Q Jin 16 Amenn irtpft 60c Q Dec Si rer 19 Po pM 5t 7a q . . Dre 1 No 15 Amerlott Ch p $3 q F b 1 Jan 15 p?d H 73 , F-! 1 Natl Pup Serv V 4(W q Dec Xo Nov 27 Rubber Market. NFtV vnHK V-v 21 -Riblep Juf --a opened bareie teftd Dreumbor, Jo u AUJcU. 37 10, Mv. AT 6J. f . r if

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