The Brooklyn Daily Eagle from Brooklyn, New York on June 22, 1923 · Page 22
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The Brooklyn Daily Eagle from Brooklyn, New York · Page 22

Brooklyn, New York
Issue Date:
Friday, June 22, 1923
Page 22
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t Ml THE BROOKLYN DAILY EAGLE. NEW YORK, FRIDAY. JUNE 22 1923. GRAIN IS STEADY; CORN AT NEW HIGH Wheat Closed U to 1'4c. Advance-Lard Off 5 Points. A much steadier feeling prevailed in whmt, with some unfavorable crop reports., while corn advanced to new high levels on a smaller movement. Wheat closed i to 1 i' cenl advance, corn H to Vt cents advance, oats U to cents advance, and lurd 5 points decline. The, wheat market opened active and firmer, advancing under commission house buying and covering. Influenced by the larger export trade the past few days and helped somewhat by the strength In corn. July corn selling at new season's highs. Sentiment was mixed and receipts were moderate. The weather Southwest was reported clear and hot favorable for the progress of harvest. Hedging pressure appeared to De light early. Argentine exports were moderate at 3,000,000 bushels. The weather was reported unseasonable In Germany. The proposition to have the Armour ('.rain Company handle the farmers' wheat, which would create mnr or less of a monopoly was freely commented on In the trade and led to numerous suspicions. There was a rather general commission house demnnd for a time, mih hnvlni hv houses with North west connections and the latter, with an advance of 2 cents at Minneapo lis and high temperatures Northwest, led to a heltef that black rust would be the next feature in the w heat market. Reports Indicted that hedging pressure was light. At the same time, export demand was rather nulct. wa Arm on the dry. hot weather as rain Is needed In parts of the belt, but was Influenced mainly by stop-loss orders in July, that de livery selling up to Me. a new- season's high. The country move ment continued light and there was no important pressure of fresh coun try offerings. I'rotlt-taklng was on a liberal scale on the upturn. The n ats market was firmer, with light offerings, helped by corn, wltn moderate receipts and mixed crop reports. The rye market was moderately active and firmer with wheat, on buy ing for shorts, and with less evi dence of liquidation. Export Inter est was small. THE CURB MARKET C.h Markets at Sew York. WHBAT firm Stsaily No. 2 red. fob ifloat 131 ' 1 30 4 Kb. 1 Nor. fob tflott 132 l.'ll'4 COH ttaarir Firm Ko. 2 yellow, kiln dried 108'4 104 OATi Flprs Qu ! No 2 whitt 54'j iA ItTB Flrn St. fly No 2 fob Afloat 7S 7.V : FLOCR Qult Cju'st Mionmots Pattnt B Lfl 8.20 Winter Strsiiht 50 ,".0 LARD..... Qul't Qulst Trim Western 11.55 11.60 FORK Nominal Nominal Old Ilea 2Jj 25.20 Futnrr Markets at Chicago. First B'sh- Ixw. L.t rr.Ttom Ml Ml MIS Mat WHFAT ;uiy io:. intii, io4 I05-; M4 Frpt Id ll.'.' ll!4'4 10,')', 104 Pec... 111?, 11''., 1U7' i 108 CORN Ml', 7!) MJ IN', til ' 4 tS 41', 44 41 .'i7" 37'', 37 July..... M': Ftp(.... 7 Tee.... (?', OATS July 40", rpt :i7', ic :w4 LAUD July JO 07 11 02 Sept II 20 11. 2d MBS Jul) 107 f3 7H t7 Industrials. si 4 3I'l4 39 1007 1100 1102 1120 1122 1127 .... 912 9.K !:ja Rtorks. Salss. Hish. T.ow. P m. Am Col F'b pf 1 00 31.1 l'ifl 10 Armour t'o if .no s i hrt 14 ha Hnrd.n's CM 5 117 lt' )1! Rmlgrp't Mrh 1 Oil 14H H' I 4 V Hr lut Corp A 7ln la7. U 1 T. Cnt Aq Sugar 111 S S IVnlrlf C 1 P 7lin iai4 1 3 i 131. I'lmT C Mtlo.'O 4:1 .' 4.1 Chi Nipple. .. 500 4 ' 4't .li chi Nip b t mo : : Chi SM Whl pf Jno 4 4-S 4S ClevBl rl Aulo 300 : :, Isy, Cuba Co 200 36' Z't Curliss Aero s 300 71. 7 4 "H Dubllier CB 500 7 :i 7', ' 7 y, liirant Mol.. 500 47 4 41 Puront M Inil 100 1 1 t, 11 11 Katun. Axis.. 100 25 15 25 Equil Tr Co. 10 191 Jl 191 (lien Aid Coal too s M C.od.'hnux Sua 200 12 12 12 Hoy, ten rhem 300 1 t ,l 1 Hudson Man. 100 0 9 9 tin. I Man pf. 100 44 44 44 Inter Run 700 4", 4'4 414 V J. Zine.. 50 14i, 14S 14 N T Tel pf.. 21 lost inns, Patterson Ba. 100 - 10 10 10 Peerless .Mot. loo 3. 35 35 Prims nadlo."300 (1 60 M Kn.lio c A ma :. 1, .1 ' t P.illo c , pf 2J 8's 3', 3H Repettl Candy too 1 1 1 Sou C ft I..looo JO 20 20 Stuta Mot S00 14H 14 14, Todd Ship B. 25 SI 11 51 Ctd R 500 5S 5S 5 V S I, & H. 700 1 J-M 1". !, C 8 1, H pf 100 , "a, V S Metal t. sou 55 60 50 Yel T C N Y 300 130 130 130 Standard Oils. Ans-Am nil. ;oo 15 15 15 llalena Sis.. 250 tt2 f.0 r.l IlllonH P I,. 35 159H S9 159 Imp till Cda 25 oi 99 lot Indiana Pipe 45 97 9t. 97 Interntl pet. 1500 14 l4 10 Magnolia 1'et 10 134 131 131 Ohio Oil .... 600 2 no fioij I'ralrl" oU 1.0 194 192 191 Prairie Pipe. 145 104'i l3i J "4 'i Sweat Ta P I. 50 79 79 79 S n Kansas 100 41 41 41 s o Kv ;oo 9S'i sh1-; 5114 t O lnil ....nioo 60S i'i' 6" ."ON Y ... H00 37 37 'j 37 i Vacuum Oil. 24O0 47 46vi 404 Other Oils. tk Nat Oas 200 6 IlarrltiKton. .. 200 10 in iflii Carlb Kvnrt.. 300 4 H 1 t 4 Cities Sen-.. H5 1 35 1 34', 135 Clt 8er B cts 100 13 114 13 Creole Syn . . 1200 1 37 4 I'erhy Clll pf 100 3', 3'a 3i Kr.slnrs Pet..30oo 5 5 5 Ped Oil MOO ! l fil vilenrork Oil. '500 5 95 li.'i uuir oil Pa. 1200 5iv r.otj 6m Hudson Oil.. "1000 a Hump O 4 G. 400 30 30 30 inter Roy 100 1 1 1 Keystone R.M000 11 K IS l.vons Pete... 300 n; 7 R7 Marara OH... 700 22'i 22'i 22S Marland Ml.. SOO 3 2 2S Meitro Oil . '25000 92 ( 92 Midwest Tes.'iosn 10 10 10 Mount Prod.. 100 II', 14 U 14'i Mutual OH.. .3100 104, 10V 10, N Y Oil 100 10 10 10 rimir oil 'soo To 75 75 Peer Oil 300 2', 2 2 Pennock Oil.. 100 12 12 12 Phillips p 200 rri'i :i :o; Red Banks, n100 4 S 4 H 4, Roy Cans ... 100 r. l4 3'4 3i Hvan Cons . . 100 4 4 4 Salt C Prod. .1000 1, 1 1KH Panto Fe Oil. 700 5 5 i4 h '4 Sapolpa Bef.. 100 21" Seaboard 1000 2 4 2 2 So P B. . '200 2 2 2 So State, 0112000 1 4 7, U", 13 Turman .....1400 73 fio ho W est States. "2000 1 It H 18 Wilms oil... 500 6, 6!i 6s, M in inc. Alvarado Vin. 300 4 4 4 Arlaona fil..1ooo 40 40 40 HHrher Kxt.'tOOO 5 4 4 Itlark Hawk. '9000 17 r, x llutti' W . . .11100 1 1 1 Cunarlo Cop.. 100 1 9-111 1 a 1 1.4 Cand Mln..."6000 0 11 I"- nt Mines. . . 300 .. 5 6 Cos Cop M . . 400 3 2 c.rtez Sil....70fl f.7 60 (17 tiavls e Daly. 900 ja, 2', 2i r i.rtitna . . ."lono 21 19 21 l.olrlneld H "35000 15 14 14 i.oldrteld Kl'11500 02 55 il linldtleld ,l.."2000 40 40 40 Holdtleld Orn'1000 1 1 1 liolclheld Z. "13000 3 2 3 Henrietta SIIMtoo 15 15 IS Hill Top Nov. '700 75 75 75 Delimiter 300 124 12, 124 llld Lead.. . 'I1OO0 30 24 30 l..'wanua ...'L'ono 444 M'Namar .'3000 2 2 3 Mohiran 2o0 CI (17 S7 Natl Tin "3000 u 12 12 Nev Sil Horn'1000 1 1 1 N Y Pore. . . 100 S3 63 63 Nlppisslns .Ms I0O rH h 6i Ohio Cop ... .22''fl 61 5S 61 Portland OldMOOO 31 31 31 Ray Herrtilra. 00 1 i4 11, I! Red Hill Flnr'iooo 4 4 4 St i ron 300 1 6-H 1 1 5-16 Snndstin Knd'3000 1 1 1 Sallda 500 50 (11 SO Sll K Dv tl2000 5 5 5 SHMnes Ama3"00 1( J n Slher Plrk. .6000 5 5 5 Kpearhd llld'25000 23 20 21 Te. k Hushes. 500 a, n, n: Tono 1ju-..."!700 62 51 jl nited F.astn 1500 s I onttnt. Mono nity i;oid... son ah M M . . .1ooo Yukon Gold. OIL CUTS AFFECT DEMAND FOR PIPE The now reduction In rruda oil In the I'cnnsyhnnix field is 1 ipected to rosiilt in iinnthir fklllnn off in buy iiir; of pipe nd other oil country goods. I'p to several months ann there wits h tremendous demand specially for pipe, hut with the flrst pedtirilon In prices in Pennsylvania, followed hy cuts In mid-continent and other fields, buying became mialler. Apparently there Is no great hurry Blitiut constructinif new pipe lines now tipciiuse 'production of oil Is in excess of consumption und has heen IncrraslnR steadily. However, one result of the pros-f nt situation may be a nuylnic movement for tank plates, and some steel lnieresis an- looking forward for an Improved d. mand for this putfluci. Alum Ta 31. Am Cot oil la Am Rol M kh Am Tel 6s 24 Anaron 7s 29 na.-onda 6s. Ana A o 7i,s As s II (i, . . Ar a Co 5i,s All (I V W li.s P'aier HI is Rf'h St 7s 35 N It K. 7 s N R Ko, 5s nt Steel fcs hsr Iron n Hies H 7s I) hie R p. on. Te fcs. re tf Co 71, a RUBBER CONCERNS EXCHANGE STOCK ThrouRh on exchange of common stock the HodEman Kuhber Com party has acquired 50 percent of the common stock of Paramount Kubher I'nnaolldaled. Inc. The Paramount owns a number of patent covering the manufacture of hollow rubber gnodKs, lncludlnif that under whhh r-pairilng tennm halls are made Manufacture of articles formerly car ried on by Paramount will lie con iintieii at tne luekuhoe, w. v.. plant or. iiiiti):inan nmpany. EXTRA DIVIDEND FOR PROCTER & GAMBLE Cincinnati. June The Proct & Gamble Company declared an cv tta dividend of 4 percent on common block, payable in common stock and the usual quarterly rash dividend of 5 percent, both payable Aug. 15 slock record Julv 14. The regaLi ttuarterly dividend of 2 percept the 8 percent stock was also declan I payable July 14. stock record .lun BANK OF GERMANY Berlin. June "'1 There was an In crease of more than 1. 596. 526.10" marks In note circulation of the state Hunk of Germany tlurlnir the wee ended June 14. Tola I nolo drrula tlon is now 10,!i0j,oril,8:'8.000 marks, a new high record. The report follows (figurr marks, last (Kin omitted I. .lone 14. I!. 51.1.125 67S.SKI June Coin bullion... Hold (iold with for- lesn banks.. UO032 ! TreHSiiry i-eitlfi- eates :.l5M:i.S Notes other hanks 731.1:9 Not"S. rhnks. ilisrounts . . . :..03l.02 Treny. notei. illHC. . Advimri'S .... hj.7l7.07i 7.l'.l.';i.. ln eHtlnenlr. ... 461,159 ..l.Vfiio other o.iuilties 7 12.954. 7 1" H.'..;9.l6 Nell's. I'lliulh- lioii io.9o:,.0!ii.t'i s .irs.u;. ii 1 CreUlla 72MV2.3 .'I .' ' poalis 5, 1 13.2ai. '3 i;t:,M(.i.? t:hei ;iohil. 11 1. j i.iir.'.u.iji i,j:. i-J.ri 0 4. 619. 167.16) .10.426.602.1.09 S.41S.39 Babson Finds Majority Of Financial and Trade Barometers Favorable nd f If )l 1 (Special to The Eagle.) Wellesley Hills, Mass., June 22 P.oger W. Bnbson was questioned today as to a concrete analysis of the business barometers that deter mine the degree of our future prosperity. Business and the itoek market have been suffering from psychological depressions during the past six weeks," says Mr. Babson. "Many are expecting a repetition of the decline in 1920 in general activity, while others are certain that secur ity values are going to pieces. 11 is not at all hard to gather such im pressions if you listen to current comment and market gossip, we turn to the ac- I tual facts on the I situation, how- ever, wo find things are not as bad as reported. Let us examine t h e leading barometers of business. "1. Prices: Commodity prices climbing rapidly reached a point almost 200 percent above nre-war lev els before they broke In 1920. Their cresent Dosition Is only 78 percent above normal, and this level nas heen reached by a moderate, orderly rise. Farm products are but 79 per cent above the 10-year average 1900-1 910 compared with the Inflation of 250 percent in 1920. There is nothing dangerous in the commodity situation. There is certainly no ground for fear of another decline fuch as we suffered during the year beginning 1920. "2. Failures: Contrary to popular belief a minimum of failures Is a bad sign, while a large number of failures show that business is cleaning house and points to better times ahead. During 1919 and early In 1920 the percentage of business failures ran at the lowest level reached since they have been recorded. Both number and the liabilities, of failures at, present are running heavy. This, together with the liquidation of the past two years, is pretty good evidence that fundamental business conditions are growing more sound. "3. Credit Conditions: At the peak of the recent boom the national banks had over $12,415,000,000 out on loan. Today thev are loaning a little more than 1 1.500,000,000. In 1920 they were borrowing heavily from the Federal Reserve Banks and were straining all reserves to the limit. Whereas their discounts were $2,827,000,000 in 1920, they are today borrowing hut $730,000,000. Money Is plentiful. Reserves are strong. There is no danger that hanks will be forced to cut down loans and slow up business In order to protect their reserves. "4. Imports: Though not as great as in 1920, our imports are gaining ground very rapidly. For the im mediate outlook this is an unfavor able factor. From a long swing noint of view these purchases abroad constitute a favorable factor. Eventually Europe can pay interest and principal only in goods. Increasing Imports at this time tend to relieve the strain on Europe, wnicn is me weakest link in tha business chain today. "5. Exports: The export situation, though better than 1913 or 1915, is not particularly favorable. Although better than last year, 1 should still classify the export sit uation as one of the few unfavorable conditions. "6. Money Rates: A business man can now finance his needs at 5 percent compared with as high as 8 per cent which ruled during a part of 1920. It looks as though plenty of money can be available on this basis for some time to come. "7. Transportation: The situation is more favorable than it has been for several years. In 1920 there was a car shortage which mounted to a peak In October. Demands at that time called for 147,000 more cars I nan were available. Today we are breaking all records in the number of car loadings. The shortage of last fall has been practically ellm Inated. There should be no Imme diate serious congestion of freight "8. Waers: Wages have shown some advance, particularly In the building trades. This Is due largely to Immigration restrictions. Wages In general, however, are much below the 1920 peak. Certainly there Is less Inefficiency than there was at that time. Any Incrase in cost due to wage advances will, of course handicap business. "9. Steel Production: The un filled tonnage In the United Stories Steel Corporation now stands at 7.000,000 tons compared with 11,- 000,000 in 1920. The present level is very satisfactory and shows that buyers are not pyramiding orders but arc following the conservative policies. "10. (Jold Movements: Tho Increased imports probably will neces sltate some movement of gold from this country, but our present re serves can stand It easily. In fact, Ihe tremendous gold supply which really does not belong here Is a con slant temptation toward Inflation. "11. Ririldlng: The combined greed of worker and employer In Ihe building trades has set the brakes on the building boom. From the point of view of Immediate volume of trade, this Is an unfavorable factor. From a long swing point of view, nowever, it is not at all dis couraging. The Industry was rap idly becoming Inflated and the slow-ing-up process merely postpones the necessary building to a time when it will be more needed. "It does not take a statistician to total our score. A few of our barom eters may be considered unfavorable, The majority are not unfavorable General business," concluded Mr, Babson, "is in a healthy position at about 1 percent above normal. The figures clearly indicate good busl ness tor tne most of 1923." BOWERY SAVINGS OPENS NEW HOME MASSACHUSETTS OIL REORGANIZATION PLAN FIX.YXCIAU FINANCIAL FINANCIAL. FINANCIAL.' Serving the Individual Needs of Each Investor WHETHER as conservators of large funds with wide investment experience to guide them, or as working people seeking the safe investment of savings investors logically come to Halsey, Stuart & Co. Whether the problem is the investment of one hundred dollars or one hundred thousand, they get the same degree of attention. This organization is old in experience, but through years of growth and expansion it has kept its youthful ideal of serving every customer, large or small, according to each one's individual needs. As underwriters of a wide variety of bond issues, this House is a buying as well as a selling organization. Its knowledge of issues, from their very origin, on which is based the investment of its own money, gives real substance to the investment counsel available to Halsey, Stuart & Co, customers. Only a complete bond organization, inspired by constructive House policy and great resources, can render such broad and yet such individualized service. v sL-r Aft What Makes Thorough, ' Competent Investment Service? " Knowing how to appraise investment service is largely a matter of knowing what to look for behind it. We have an interesting booklet on this subject not so much a sales booklet as one of information that is valuable to any investor .We shall be glad to send it withoiit obligation. Write for booklet E06 HALSEY, STUART & CO. ' INCORPORATED CHICAGO 14 Wall Street. New York. Phone Rector 6340 New TORK PHILADELPHIA BOSTON DETROIT MILWAUKEE ST. LOUIS MINNEAPOLIS 3 41 o 1 4 lloillls. I 1M I 92 11V., f'S'a l"l ', l "2 H M "TV "1 7 1 ins Hi7 99 ft I'M J H ion n '. 9S I'M ', 9T IMS 91 '4 97', 11 97 'i 1 " I I, 3f- 1'4 1";', nil ', 102', 9'1 1i-.v4 99 1 07', 92 , k M 9rt 100 09', 9 '. l"l ', 9H', I on 97', 0 ', Hun TAUT. II KiiEr Is 2 .'I Sua fin 3.1 i nhr B s :4 la R s S7 in Hh Hv a ! : alalia H (I 7m n.ral I ha 1 llnn.l Huh 7a. 3 -in M'-. I. 7.2 Msnltnha I'w 7.11 Manll l.a P 7s W 1: Mfitris t'o 7,.S Phil Kla- 1 II lulMra Pi iu.ij Pun Hr Kl !rs K hk 7a ::.ll Miawahfn 7s lvay t f'l. ! Snu'h !l K-l B '1 V 7 :S. .11 8 X Y "a 17. IS H li S 7s :i. .11 HON V 7s Jo. .11 H il N Y , tl Sulfl I'n r,sl 1 iiii.1 ri pii mi I'll 1.) Hsv 7i,l llurn (Ml 7 II Valvollhe 7s. , , I: I'nrrlen llnliiK Klnt ihM s-l.'S inn, loni- 40 1'. 99 1004 12', 101 ', lo;, 9; S7 79 l":l 107 99 H7', ''. 9 91 9i 91'j I'll ', 1"'j 97 1 Ml', 100 1, 0 l :., Ill I I'll' IOJ'i 100 1, 10 11, l:S in- ', io: r... inr,., 91 91 1"7 10..', I'll', in.-t'.r. I "9 tl 91 '. 9' 1"7 i"i; ', ln3 Hint I..I1J 6i,. tll i ms li.tvl i,.. tms psr shsrs. in LONDON MARKETS I.nnilnn. Juno 22 - Dnlliir sn uriiioH slionrri g lirtlpr Inn mi the Slntk hxi-hmiRr un Imiirnvnmpnt In Hie Now Yurk niHikct yontorilny- OIIh cro firmer. Iltiyal Dutch wh 30 Shell Transport IP, Bnd .Mexican l-'nuli 1 3-1 1. Hume mils were m al, Argentine mils hmcrnl nrnund r cent liiws. l-'rench InHiia were firmer un lin Movement in the Parts market. Knf hra asrs (lull. Iltihtier isnuch were t'ulitiy mi weakness in Hie Htapl InniiHtriaiH mi tne wnoie m-rc irn-k ular. hut nailers ahuvvcfl nttuc pttence. Ftio Tlnto as u'i",. Ilu.l nn flay s 6'.. In the mam inarkeis were straihei with trading un a mall scale, mo! nf It being week-end repurchases hv recent sellers. GOODYEAR TIRE REDUCES PRICES Will Begin Receiving Deposits at 42d St. on Monday. A substantia! citizen from the Bowery, with resources of $202.- 78.000, will become domiciled In Park ave. next Monday, when the Bowery Savings Bank will begin re. ceivins deposits In Its new branch building at the southeast corner of Park ave. and 42d St., across the street from the Grand Central Station. Since its organization back in days when the northern residential limits ere at Hth st and Union Square wits the center of fashion, the Bowery Savings Bank has had quarters in buildings at 129 to 130 Bowery, and thoiisanas of depositors living at great distances have continued tu come here to deposit their sav ings. Business will continue in the old building at the Bowery and irand St., the new midtown ouar- ers being for the many among the bank's 155.(100 depositors who will find the Grand Central location more convenient. Consideration of a midtown Bow ery Savings Bank was begun nine earn ago, when one of the bank's officers. William E. Knox, now presl dent, was among the first to per eelve the probability of a second great banking center 111 the citv, and began a series of annual surveys which confirmed his belief. Sale by the city of the site of the old Grand Union Hotel gave the bank Its opportunity to obtain what 11 considers the Ideal site in New lork for a savings bank. he Bowery Savings Bank had Its origin Jn the desire of a group of puiiiic-Hiurnen men to prevent a re currence of Ihe poverty and dis tress that followed the cholera epi domic of 1 832. To dovcloii habits or tnrllt among the workers in the Bowery district. II was decided to organize a savings bank. This was done in .Tune, 1834. and In the he ginning deposits were received two nlubts a week In a corner of the Butchers and Drovers Bank at 126 Bowery. Two years Inter n building at 128 Bowery was purchased and occupied hy trie hank. In lS.ii a new build Ing was erected on the lots at 128 and 130 Bowery, and In 1864 this building was enlarged. The present structure in the Bowerv. designed hy th late Stanford White, was erected In 1804. fin one day recently $1,503,000 was deposited in the Boworv Savings Bank bv 3.512 persons. This con trust" with deposltH totaling $2.ri2 by Tin persons the night, the bunk was op.-iiert lit the Bowery 83 yean airo. Hesniirccs have grown from fi r. . T. S 1 on .Inn. 1. 1835. to $202,778 moa on June 1 'ast. The new buMdlng at Park ave and 42. 1 st. Is 16 stnrlea high. It Is l:omanesittie in design. The main floor banking room Is on of the handsomest and nmsl commodious In the city. Tho walls of the banking room are of variegated limestone, tolersriei sod w'th blocks of the same Ohio sandstone of which the facade is built. Columns noalnst the walls ire of colored marbles and pnnels tieiween them of mosaic patterns., left rough and unpolished. W'ln-lows are 27 feet wide end head 46 ''ot ni'ivc the floor of the mnm. Tbe rolling Is decorated In color. Victor A. I.ersnoe of H -eicil I y n , fornterl - controller of the WI'Mams-i iirrh s-!lr."s Bank. Is vice presl-d rt of the Bowet-v. Boston, June 22 The reorganization plan of the Massachusetts Oil Refining Company calls for the incorporation of a new company under Massachusetts laws with an authorized capital of $5,000,000 first mort gage 10-year 7 percent guaranteed gold bonds, $5,000,000 6 percent cumu lative preferred stock and 75,000 shares of no par common. The company will sell $2,500,000 of its first mortgage bonds, which will be guaranteed hy Cities Service Company for purpose of nrnviriine snh. stantial amounts for permanent addi tions ana tor working capital. COPPER MARKET Some consumers who were bidding 14 and 14!, Into on Thursday today advanced their bids to 15 a pound delivered. That price was quoted by some smaller sellers on moderate lots, but leading Interests held firm for 15',, and believed there should bo a resumption In buylns tur uuiucsiic account shortly. PITTSBURG BANKS MERGE Tittsburg, June 22 The People's Savings and Trust Company ab sorbed the rtea Kstate Trust Com pany of Pittsburg with beginning of ousiness today. The. retiring institution had capital, surplus and proms ot and total re sources of over $8,000,000. IOXDOX XF.W FINANCING. London, June 22 the Tokyo, Japan, Electric Company is expected to issue shortly 3.000,000 6 percent, probably at around 94. There Is some talk of another In- terestlng foreign loan later, and also of the private placing of an Indus trial issue. SI'F.CIAIj N. Y. Allt WRAKE DIVI DFN'D. New York Air Brake declared a special dividend of $1 a share on common stock, payable August stock record July 9. The last nav ment on the old capital stock prior to reciassittcation was 1 percent in script on Sept. an, 1921. Goodwnr T re K il. In r t o Is r.otiftng dialers It. at n w prices Willi li will lie taliU iiiiliilllle on tiri-n anil lulu a w ill In- rt a !y in a li w da and Hint liny Will be efTV. live iis of Jun' 1 I. v itli .t.iii'l.i r. r. bates. This mi ans that ne.ilt rs will nt-rue li tales tontinii ti e illttirritie In Iwfcn nt w iititl old prlies on all Un a .nil ) ,,.' it: u I iliO a pi tor to June II. I-IASMI.VAVM I.OADIX'iS IN- HI-.SF.. Philadelphia. June 22 l-'nr the wick i inil d June 16 revenue freight tar loadings of the Pennsylvania I : :i II mail were 179.16 1 cars against I41I.SI3 for the same week In 1 !( From Jan. 1 to June 16 car loadings or rrvtnue freight were 3, 875, 81 2, against 3.1": li.'i cars for the nitino te nod ml year. TO REVISE COAL RATES IN WEST Washington, June 22 Revision of Western freights rates on coal from mines In New Mexico, Colorado, Wyoming and Montana, was rec ommentlcd today by the Interstate Commerce Commission. No order was issued, but the Commission gave the rallronds concerned 90 davs within which to file new schedul Most of the alterations projected are Intended to give producers an equitable rate to markets where the coal of their competitors in othe districts Is also available. In gen oral the Commission held that th level of rates now charged bv rail roads in Montanna are not excessive, considering sparse population and difficult operating conditions, while some of the rates charged from New Mexican mines to consuming terri tory are too high. The Commission also decided that proposals of Colorado operators for tho establishment of distance rates on cmil are impracticable and that present rales from Utah mines to points Wast arc reasonable. The decision, the Commission said will "serve lo Indicate changes In the rate structure that Room neces sary, leaving the minor adjustments In the rates to be worked out by the railroads. PULLMAN PROFITS 1-14C. A PASSENGER Each Car, Records Show, Earns 12c. a Day. It is ordinarily believed by those travelling In Pullman cars that the company's earnings from this serv ice are exceptionally large. Iacts compiled from records of the fiscal year ended July 31. 1922, tlo not substantiate, this belief. Records for the period show that, Pullman owned 7.674 cars with the average number operated monthly .B6.. Earnings per day for each car owned amounted to only 12 cents, while, earnings per day for each car operated was 16 cents. The average number of passengers carried in each car was 14 and earnings per passenger, 1.14 cents. Pullman has been taking on some good business recently for automobile bodies of better types, rnis depart ment has been in operation for 3 vears and is turning out both open and closed bodies. Possibilities of this plant will be increased when work is completed on Calumet Har bor. Near the close or May. Pullman received an order for 600 sedun bod ies from Moon Motor Car Company. Pullmans passenger car depart ment is running about 90 percent of capacity but the freight car depart ment is operating at aooui on per cent. L. I. PRODUCE tOiig Island and nearby fresh green vegetables were In moderata sjpply this morning at Wallabout Square and other farmers' and wholesale markets. 'Ihe bulk ot the offerings consisted cnieny ot bunched vegetables. The weather has curtailed the demand for most offerings and prices with very few- exceptions showed a oownwara tendency. At a late nnur consiu-erable stock remained unsold, which was being offered aat eaennecu figu res. Lettuce met a very active ne-nand and prices steadily advanced during the early morning hours. some sales of fancy, well-headed stocl: bringing as high ns $4 per crate. Grange County sold from $2 to $3.50 per ci'iuo. Green peas ot lancy quality aim in good condition sold rcauiiy ai well sustained prices. Cauliflower, especially ordinary stock, was practically neglected, and nrires showed wide range. The demanti lor aaparaKUH so limited tnai me uiiirnt-i in eral was very dull, with prices verv irregular. The warm weather has seriously aiiecteu nn- i oik'. Kninach declined, owing to the very limited demand. Some Orange Counly slock sold nt from $1 to $1.25 per 5-peck hamper. The did Dominion Steamship Dine brought hy boat from Norfolk. Vn 1,900 cruten of cabbage the bulk of which did not realize transportation charges; 6,100 hampers of beans, which sold at from 50c. to $1.25 for green and 75c. to $1.25 for wax per 5-peck hamper. Dong Island hunched carrots and beets are being shur ly competed against hy llbeml' supplies from New Jersey and Virginia. Strawberries from Dong Island showed wide range In quality and condition. The demand war moderate for fancy large and some sales were made as high as 45c. per quart, while ordinary bcrrlep sold as low as 20c. Aspsraa-iis Per rlnzsn bunch, s ivlilts snd K't'in. lirttnt. beat, $2."nil; fsnoy, $5..ifl 3.;.n: inns, (lain'.. Bests- I'sr nmi'-ll. 4n5e. raullflnwt-r-l'or slat Itarrsl. heat, $2. 25a !,M), fane", t:.;Sa,li No. 3, 1.2ial.5t. BANKS. BANKS. BANKS. Brooklyn Three Irving-Columbia Offices, in three important centers, place' Rankincr at the disposal of business men and other residents of Brooklyn o every banking and trust service. Service Each office is a Neighborhood Bank, equipped to meet all local business and personal needs. Its fcfficers are intimately acquainted with Brooklyn conditions; their judgment is supplemented by that of Advisory Boards composed of leaders in Brooklyn's business life. And each office has behind it the facilities and world-wide resources developed by one of the great commercial banking and trust institutions of the United States durng more than seventy years of national and international banking Irving Bank -Columbia TkusT Company Flatbush Office Flatbush and Linden Avenues Brooklyn Office 350 Fulton Street New Wreck Office New Utrecht Avenue at 53 rd Street FINANCIAL. JOMH a.MAHONCV, C.R. jllTt or N.V. ACCOUNTANTS-AUDITORS ENGINEERS INCOME TAX MATTERS CERTiriED FINANCIAL STATEMENTS i IM NASSAU STBItT.H.Y.CITV.-aKSMANMSt BONDS A. MACK. KENDRICK 26 t'Ol RT NT.. HIEOOKIAS, N, V. TFX. TRI.XM.I K, AMI OltKKKI'ONMKNT CLARENCE HODS0N & CO. KST. J HIM FINAIVCIAti. FINANCIAL. I'nrrotit Per bunch, 'Ja4r. I 1rV I'T hinii'li, 3 4t Cal)bitge-IVr head, 'bfst, small, Kihlrnbi!--rr hunoli, $hv, mm. Knlti 1 Meotch 1 Per wlnt lutrrel. $1. Coal. 50. I .apkB Vpv biin-'h. 4.V. l.ettucp- Per rmtn qnnrtu), Viest, (3a 3,fi0: fmiov, J1.7f.fl 4: nrdirmrv, n'.'.M. On1rn (uprtnjr Per bumh, 3a4c. Phi wiry Per bunc h, curly, Par. ; Hy-mihH. 1n-'. Pphs Per bug (bunhph, hRt. $3.5flai; fancy, j4.r.n4..rii; ordinary, $:.fii'H3, RmllnhM" Pr bunch, rrrl tin. 33V.; whit Un, 2's.r3c. ; while ratllnhea. 2a3Vc: -blMi-k rflfilphca, 4nfic. Rliuhnrh Prr buni-h, 2n3r. RomHln' Pm- rnUo, "fie.Hil.2i; pr lt batTPl, $l.iHl.7t. H.-hHff icotir nt-ass, per eri (S3 quarts). b"t, $I..VtnJ; nrltnary, J1m1.:.'. Spinach Per crate (32 nUHrtm, hput, h l.J.'i; nnlinmy, 7.V. Slravvhorrlrn Prr quart, houl, Vh3. ; fmicy. tew wi If, 4ihI.'ic. ; onllimiy, 'Oni'iV, TomalooM Hothouse, per pound, funey, .Ifln ::,c White turnip Per hunch, 4r.c. BUTTER. EGGS, POULTRY Ncarhy hfnnery white Kxlra flrt, new "flurn, fllliM nnt flat, 37a4lc. ; (Irata, new, 34n:flr. ; extra flntt, 30a 33c. ; under grades, 37ti:'9i'. NfHihy gnthfrtd hltoa-FlrW to extra. 2713r. : lower, 24a2ft Hennery browns Ktxra fnnev, 2Sb33p. Wt alern atheril brown Kxtra, -,7' ?r.: extra nrt, 24va2fil,ir. Kecelpia, nmtcr. fraaniety Hlfih grade, HlHinlflc. extra, score, 37a37'u.;; lower, 34a3rc. Receipt, 28 VttD, Poultry. fowl Five nounda and under. 21n32c. four pound and under. 31c?, ; three pound nr. unaei, aw.; two pounui na unaer, :a Legal Investment for Trust Funds in New York State A. I. Namm & Son Brooklyn, New York First Mortgage 6 Sinking Fund , Gold Loan Due June 1, 1943 Price 99 and interest Yielding approximately 6.10 Six Salient Points: 1. A. I. Namm & Son is the third largest strictly cash department store in America. 2. This loan is secured by a first mortgage upon real estate, buildings and fixtures, having valuation of $7,556,017, and in addition by the general credit of the Company. 3. Net tangible assets: $9,806,801, equivalent to $2,802 for each $1,000 Certificate of this Loan. Net quick assets: $2,195,784, of which $1,103,738 is cash. 4. Earnings for the year ended February 1, 1923, were y2 times the maximum interest requirement. 5. A sinking fund provides for the retirement of $100,000 of these Certificates annually, or over, one-half of this issue by maturity. 6. Application will be made to list these Certificates on the New York Stock Exchange. Circular upon application for E-l R.F. DEVOE & COMPANY Incorporated 67 Exchange Placa New York Telephone Rector 5800 (;m:.vr noutiikhn railway. Washington, June 22 Tho Interstate f'oninirri'P Commission today authorized Ihe tlreat Northern Railway Company to procure authentication and delivery lo Its treasury JflO. 000,000 of general mortgage 5 percent gold bonds, series C. MUTISM INDI'STKIKS POOR. London, June 22 I'oor trade report from British Industrial centers has resulted In a change In the tono of Industrial markets. i

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