The evening world. Newspaper, May 19, 1919, Page 13

2 aha vibe ty Spee sire ; i [canttlc Marine issues, There are high expectations of a pronouncedly favor- ‘News and Gossip of To-Day’s |avie announcement regarding new de= o Market—Present and Fu- | velopments in the company’s affairs. ture Prices. Directors were scheduled to meet late this afternoon, The report was eircu- lated that the expected statement | would tell of the sale of the com- pany’s ships under Fritish registry. This, as the story ran, would result in 4 substantial cash dividend to share | holders. An analysts of the campany's |financial position shows that the com on shareholders can hardly hope to participate in any such dividend 4s. Although transactions on the Stuck Exchange to-dey were again well }-Over a million shares, there was an Absence of the bullish speculative fervor 40 noticeable in recent market Hi days, and stocks moved within « comparatively narrow range. | { Prices wera higher at the opening, | ination, yet the common, stock to- Bi} Practically every stock showing | dey wan more aggressively bouzht ain over the close of last week, TS | than the preferred, It at one tims Was due to the usual accumulation, sowed a gain of more than 1-2 he week-end public buying orders.| points, while the preferred moved up Were in especially good de-\t4 4 new high record with a gain of Ty noon, however, the mar-| ahout four points et began to sug back to below the! Copper falled to reflect the *previous close and then moved ir-|nouncement that metal prices are regularly to the end of the seasion. | til on the up-grade and that some a’, The reason popularly xiven as! of the big producers are now asking being back of the market's uncerialn 17 cents per pound, tone was the speech of the German) 61) stocks showed considerable President, in which he stated that} strength at the opening, but lost most (bis country's ates would refuse| of their early gains, Steels were [0 sign the peace treaty. However, | without feature and became reaction. aia announcement was taken with Alary as the sexsion drew to a close. | ange dose of salt in high financial) in fact, there was a decided ten- | WWarters, and it was considered a4) gency to take profilts throughout the being made for home political con-| entire tist yiautmption. | Fi%Phe real reason for the market's} it in expected in Wall Street that @rment backwardness probably is) the new Congress, which convenes that the speculative public is pretty | to-day, will enact much constructive ‘welt loaded up with stocks and that| legislation and that business will be ythe technical position has become | greatly stimulated thereby. Current e-weakened. On this theory a large|heavy accumulation of stocks is oo part of the professional element have | based on this confident belief, \ *®écome vigorous sellers of stocks, Railroad employees are expected U2, he one outstanding bullish demon-|to be particular beneficiaries of new gimation of the day was in the Mer- \tecislation, and this accounts for the arn she > alsa, Prior to our y hart trading on the New York Curb June 2nd, 1919, if, when and as issued we offer for subscription— subject to prior sale—the unsold remainder 500,000 Shares Treasury Stock Livingston Oil Corporation at $1.25 per share Price Advances to $1.35 Per Share Tuesday, May 20, 1919—No Orders Accepted at $1.25 ) He Share after Midnight, May 19, 1919 Authorized Capital.....0.. 96). seecgcneee es $3,000,000 In Treasury $1,278,060 Par Value of Shares, $1.00 Full Paid and Non-Assessable President J. K. Livingston Tulsa, Oklahoma Properties: Over 10,000 acres in and adjoining Ranger Field, Texas. Over 10,000 acres in Oklahoma and Osage Nation. ) Gasoline Absorption Refinery—capacity 1,000 gallons daily. Production: Average yearly rate over 400 barrels oil, 15,000,000 cubic feet of gas and 800 gallons gasoline daily, Earnings: Several times dividend requirements. Dividends: 3% Quarterly—January, April, July and F October, Development: 8 wells drilling, one offsetting 1,500-barrel Turman Oi! Company well, and one off- setting Sapulpa Refining 300-barrel well. 32 wells, practically offsets, to be drilled. For further particulars regarding above Cor- | poration, reference is made to R. Dun & Co., Bradstreet & Co., and any bank in Tulsa, Okla. H ‘The right is reserved to reject any and all subscriptions for the stock offere ibove and to’ allot less than the amount subscribed for. C.DKxarpdeaCo. | Established 1900 Investrent Broxers. © | Sincer BuipnGc = New York | Tel, Cortlandt 2548-4-5 ) oy The statements herein while not guaranteed have been obtained from what ly We consider to be reliable and authoritative sources. | fact that they are making a better market demonstration than at any time in two years. One of the first important acts of the new Congreso probably will be to pass a General Deficiency Bill, ap- propriating something lke $1,000,- 000,000 for railroad purposes. This will enable the various companies to satisfactorily meet their financial and phystcal requirements, Exten- sions, improvements and additions can then be éarried out and much needed new equipment ordered. This will almost surely result in {mportant operating ecdnomies, with consequent benefit to net earnings Another factor influencing railroad stocks in the market is the expecta- tion that they will be allowed a sub- stantial increase in freight rates be- fore being turned back to private control. able development will come about, that discussion now centres around the probable of the increase, The consensus of opinion seems to be that the increase will not be less than 10 per cent, and that it quite possibly will amount to 123 per cent, or more. ‘The number of market optimists has recently been largely increased because of the more favorable na- ture of business reports, Steel bual- ness is picking up and it ls now everywhere believed that any change | in the prices of steel products will be upward. Demand for copper has improved and last week the big pro- ducers were able to advance quota- tions @ cent a pound. The South is becoming more prosperous than ever before largely owing ta the fact that the price of cotton is selling at high record prices. It is now indicgted that the wheat crop will be the largest in the country’s history and ‘“SILVER’’ TIME Open market results in high- e for precious white lin 28 years, reat and small, NIPISSING, KERR LAKE, TONAPAH DIVIDE, HECLA Present status. and outlook covered in current issue of “The Market Analist.” Copy without oblization upon re- quest for ST-38, '|SCHMIDT & DEERY Members Consolidated Stock Exchange of N.Y, New York Offices Main Ofive Uptows Office 30 Broad St. } 319 Fifth Ave, Te. Mur'y Mili dap Tel, Broad 1776 Philu Office, G28 Widener 4 The Outlook For Silver and its relation to the silver issues,~—particularly from the standpoint of the effect of the prevailing high silver price on earnings, — is comprehensively discussed in this week's Market Letter, which algo features a com. plete review of Kerr Lake the second largest silver pro- ducer in Canada. Write or phone for free copy No, EW-420 1S UNDAY WORLD WANTS ! WORK MONDAY WONDERS. Confident that thin favor. | Wal couraged by money market cond tions, For a time last week there ‘was fear of a stringency, These fears have all but disappeared. There rs to be an abundant supply of funds for commercial and stock Market speculative purposes, There are high oxpecationa of a further sharp improvement in bual- ness when the peace trenty ts finall: signed. Foreign Governments an business interests will then be able to arrange gatisfactory credits in this country, and there then should be a Net le Law, hee, ta OY BN 2 " 7 mw mh 7H % MH Me 100% 100% — 4% rush of buying orders for practically qq; all commodities. Bears matntain numerous other both that these, and favorable factors, actual and in prospect, have been discounted by the sharp ad- vance stock prices have had, But bears are much in the minority in numbers and in the weight of stock market orders, —— TO-DAY'S PRICES Total salog stocks 1,600,800 shares. The Marines during the first half ‘hour made new record highs for both lamues, the common touching 548-4, {Up 21-8 and the preferred 1247-8 18-8 While the Ralls went into w high ground at the opening, the activity did not long continue. Moat | them sagged off to near closl Wvela of Saturday. Reading made [dish 903-8, up 11-8 and then reacted nearly a point. Among low priced rails M., K, & T, preferred was @ feature, selling 25, up 31-2, ‘The strength in the Marine iseues ‘waa reflected in a broad buying mo" ment, centring in American Interna- tonal Corporation, This stock made a record high at 943-4, despite the fact that stockholders will shortly be ' ‘called upon to pay in an additional | $20 @ share. Oils becamd active under the leadership of Royal Dutch issues. Royal Dutch New York made a new record high at 1171-2, up 21-2, Mext- | can Petroleum 1807-8, up 17-8, Stude~ baker sold up 1-2 to 83, Fisher Body made a new record bigh at 83, up {5 5-8. f | | CURB, Opened steady. Houston 119 to 140; | | Midwest 185 to 187; SinclarGuif 61 and! 41 1-2; Int. Cont. Rubber 31, off 1-3; ! | Merritt Ol 31, off 1-4; Peerleas 25, | off 3-4, Peerloss advanced 2 to 87; Swift International 61, up 1; National Ani. line & Chemical 34, up 1; British-| American Tobaco 28, up %; Houston rights steady at 4.1-4; Sinclair Guit 61; Intercontinental Rubber 32 up 1-2; Merritt 311-4; Midwest 186; Boat 173-4; Russian bonds weak, both Issues being off 1-2 point at 44 and 64, Noon prices were quiet Tegular. Peerlesi and ire reacted 1-2 from Intercontingntal up 1-4; Sinclair Guilt steady at 61; Midwest 184, off 2; Gen- eral Asphalt 703-4, up 1-4; Houston {311-8 off 1-8; Remington Type, 75a 78; Endicott, 78483; Aetna, 111-4¢a 11 1-8; British-American New, 371-2428; Wright-Martin, 47-84 5 1-2 Nipissing 12 144 2 12 1-2, Condon & Co, 98-4a97-8; Boat, 171-44173-4; Int, Petroleum, 311-2 032; Magma, 35037; Nat, Aniline, 883-40841-2; Libby, 80431; Swift Inter, 604 American Writin Paper, 6 1-20 71-2, | Two o'clock prices were irregular. Merritt sold off to 90, but recovered to 301-2; Asphalt 691-2, off 1; Inter- Continental Rubber 81, off 1-2; Boat 17, off 6-8; Sinclair Gulf 597-8, Rua- sian issues sold 42 and 52 respectively, | both off 41-2; Glenrock 67-8 to 7; City Service Banks Shares 39 3-8 to} |891-2; Nippissing 121-4 A \ * Tnterbore Con. mw 6 lnterbare Con, 2% 4 — % Kenneoott Copper nw 8 + Labigh Valley * “a+ % Maxwell Mater. 6 8% m4 —sh Mer, Marine ot... SAU Oly OM + 3M Mer, Mer ct. of... 127% 104 184M + OM Mewinn Petoleum, 164% 178 181 + 84 Mia Comper, 4 ah mh Miimale fee! ay 6% Th & Mo, Pasitie. me wh Ra N.Y, Gon ee N.Y, & By BN North, 1 my MY % Kenn. at %) Pitts, ome | Moading t8% “ ep, test, oh Ma finclatr Of... i MK be Houtbemn Pacific - Mouthern Railway . 03 1M 81M is + &! - © * $290,000; since Friday, $1,017,000. | UXCHANGH, | Franca continued weak, Checks) touching the lowest level on record at 648, Lire Cables deolined to 8.18; demand Sterling was easier at Guilders Cables fell off to 39 5- Peseta Cables 20.20, and Stockholm Cables 26,60, CLEARINGS. New York, $482,638,921; Philadeipiia, $65,072,572, increase $689,463; Boston, $44,788,549, increase $2,312,782. i Sub-Treasury debtor at Clearing House, 161,422; Federal Reserve | Bank creditor, $59,639,946. Copper is now being offered ut 17) cents a pound, Sales for immediate delivery have been reported at 161-3 cents and 164-4 cents was paid for fair wized tonnage for August de- livery. American Smelting & Refining Co, has advanced the price of tead at| New York from 5.10 to 6.26 cents, Metal exohange quotes copper strong, Spot 103, May 16 to 16.70, June 16.18 to 16,75, July 16 3-8 to! 167-8, August 165-8 to 171-8, Sep- | tember 167-8 lo 178-8, October 17 to | 17 1-2, Bales 26 tons Beptember at 17, Lead firm. Spot 5.27 1-2 to 6.83 1-8, May 5.25 to 6.871-2, June 6.271-2 to 6.40, Sales, 120,000 pounds of May at 6271-2, Spelter firm, Kas St. Louis spot | 7 1-2 B; May 6.20 1-4, June 6,30 to July 6.20 to 6.40, August 6.25 to 6.46, September 6.35 to 6.60, Bales 6,000 tons May at 16,20, May at 16.20, GRAIN, Chicago range for day: CORN, iE Hey iigeimy May Wright-Martin 4 to 61 Refining 184 to 186; Cosden Co, 93.4 to 97- Endicott-Johnson 78 to 82; Aetna 111-4 to 111 an Tobacco, new, 273-4 to 26; Mag. ma 4 to 36; National Analine aid Chemical 331-2 to 42; Houston 121) British-Ameri- | ;to 125; Peerless 361-2 to 3712; Swift | Int. 60 to 6% \ The close was irregular. Peerless 381-2 up 28-4; Mrrt. 307-8 off 8-8; Middle Dest 1831-2 off 21-2; Ruastan 512s, 40 off 61-2; 61-28, 68 off 31-2; Inter, Cont, Rubber 81, off 1-2; Sin, Guilt, off 1 1-4; Houston, 124, up 5 17, off Boat, 8, OUTSIDE MARKRT, i} telphia—Opened dull, Phila- | delphia Blectric, 26, up 1-4; P. RT Te., 26 bid; General Asphalt, 70 bid. | Hoston—-Opened steady, Waldorf Hystem, 17, later 16; Big Heart Prod., 181-4, up 2-4; Gray & Davia, 52; | Helvetia, 36-8, MONEY. Call, Mix. Col, opened at 51-2, high| 4, low 6162, renewals 612, ruling 5 1-2 and closed at 6; all Ind. opened at 6, high 7, low 7, renewals 6, ruling 6| and closed at 7 per cent, Time money is quiet. Limited! amounts are offered at 6 per cent. for sixty and ninety days with borrowers bidding but 6 3-4 per cent, for ac- commodations, A few loans have been made at § 8-4 per cent. on all in- dustrials for shorter periods. Mixed money is unchanged at 5 1-2 to 5 8-4 per cent. Commercial paper iy quiet. Bettar names of regular maturities are mov- ing at 5 per cent, although quite a little paper is changing hands at 6 1-4 per cent, especially in names not so well known, Both local and country |banks are buying, although requests favor the latter institutions, Banks lost trom Sub Treasury yes- thaw, 175,219 tons; production Crude Oil] 696 pounds; refined, 942,797,600 | pounds; cake and meal, 1,982,048 tons; | hulls = 1,012,826 tons; lint bales; hull and fibre, 117,19) Stock, month April 30: Crude Oil, 162,718,380 pounds; refined, 260,115,299 pounds, COFFRE, Range for day: One, Jul Ws We ihe none mE Market Closed Easier—Closing bid Grand week May $1,181, from Jan. 1 $21, 488, 103, Canadian Pacifio—Second week May Tile, cuperb 1 Dis. pon Meseen and asked prices May 19, 58 to 60; | 92,060,000, decreane $150,000; from June 18, 66 to To; July 18, Aug. 18, 49 to 51; Sept { Jan 17, 65 to a8; Web, 17, 68 to 65; March 17, 60 to 62; | ¢ April 17, 60 to 62. BARNINGS. Trunk = System - sex Increase $62,50 2.877, Increase $5,- pb weeks, ... the Investor & Trader fitable articles, AMONG the many news items, quotations, tices and “editor’s forecast” which may be active this week, the follow- ing are typical: PECIAL SHIPBUILDING ARTICLE lar quarterly 11-2 per cent. preferred, Out To-day! The Dominant weekly of the New York Curb Market, where “Million Share Days” have roared for four Norns Jan. 1 54,969,000! increase $3,062,000, |, The twombership ind Boulton. Canadian National Ratiways—Bec- | thin tore 000g Musas Bx: o week May $1,727,076, increase be 0, unchanged from previous 909; from Jan. 1, 629,751, ‘ease $4,980,393. Huffalo, Roeh (a Rearmument On Stock Dividerd Income Tax Test Case. 482, decrease] WASHINGTON, May 1 The 8u- 1,588, de-]preme Court to-day ordered @ re- argument of test proceedings involy- ing the constituttonallty of provisions of the Income Tax Act of 1916, tax- ing stobk dividends as income, A mente will be heard n the fall, say Fairbanks:Morse Com pany—Regu- ayable June 1. THE SILVER BOOM-—based on new — for the white metal (which the INVESTOR & TRADER forecast nies (in and ing. Which hives stocks ' THE OIL BOOM—the greatest in his- tory—Latest news, Sie “hi ger sales of all the active I pow com- panies. Standard Oil quota’ WHEN OIL DRILLS BRING A “GUSHER”— Do you know the for- tunes it means for the stackholders? A special article tells of the great drilling races going on in tacular Ran; (Texas), ie Wrenn Oklahoma aa dividend no- of securities interpreting the President's recent elsewhere, and companies which are proclamation, and the latest news in re- spending millions in hunting this “new gard to Submarine Boat, U. S. Steamship —_ mona: ” Market effect of and Cramp Shipbuilding Company. “strikes” made thus far. ‘ Twenty pages crammed with the latest news of all active New York Curb Market Oils Mines Industrials athered by an experienced staff and special corr: its all over America. Among the securities represented the news columns are: British American Tobacco Federal Oil Tonopah Divide General Asphalt Island Oil & Transport Tonopah Mining ‘4 U, 5S. Steamshi Merritt Oil Tonopah Belmont Cramp Shipbuilding Midwest Refining West End Consolidated United Profit Sharing Ryan Ni Silver Libby McNeill Boone Oil Kerr e Silver Aetna Explosives Metropolitan Petroleum | Crown Reserve Silver gle Film Me Petroleum Swift & Company Okmulgee Jim Bu Perfection Tire & Rubber International Pete Coni: Intercontinental Rubber 8 ‘Temiskaming ya a 2, Ry forth Am: ip ing & 7 Boston-W: Gold Zone Subi ine Boat Northwest Oil Golden Gate Wright-Martin Southwest Oil La Rose Silver Hupp Motors Pennok Oil McKinley Darragh Silver American Oil Salt Creek Producers McIntyre Gold @ & Company Sinclair Gulf Hollinger Gold Glenrock Oil Tonopah Extension Cresson Gold NO MAN at all interested in the great booming market where profit opportunities are great can afford to miss this especially important number. A guide for every investor and trader. ‘nd tots’ SC & Copy Silver Stocks are at last receiving public r ion that should carry most of them to Righer market levels, Our latest report tells why silver stocks Should Sell Much Higher and covers many of the leading silver pte’ ucing companies. Coury & BO Free ou Request. Chas. A. Stoneham & Co. 41 Broad Street, New York | | By the Sample copies free to year Investors and Traders $2.00 xy: Oe we BS B Call, ’phone, write or ask for No. E. W. 789 ay iS She Me t 8 Corn, July, up 4 6-6 tod 8-6; Sept, up 2 to 1 T#, COrron Range for day: SECURITIES vinta Om, Hig Low 50 Broad Street 505 Fifth Ave. Ny me ry Bt Tel. Broad 9010 5 pnEw Yorn Tet, Murray Hut 1120 i ‘by Bs PHILADELPHIA PITTSBURGH PA ee i CHICAGO DETROET BOSTON riot closed fire, uw wo points, Cotton seed and Cottonseed Prod- ucts—Census report for period from Aug. 1 to April 30 shows; Cotton. | SammmneH | seed received at mills, 4,218,618 tons; ned crushed, 4,083,887 tons; held at mills, ee SINCLAR CENTRAL AMERICAN OIL BUY—SELL IRVING J. WEIL & CO. 20 BROAD ST. NEW YORK TEL, RECTOR 2069-28) eek Producers Salt Cr BOUGHT AND SOLD | L. L. WINKELMAN & CO. S1O0K BROKERS, | | } | 44 Broad St., New York Telephane Broad 64) s