The evening world. Newspaper, July 22, 1919, Page 12

ee a WALL STREET Market—Present and Pu- ture Prices, stock market was Cue mostly technica] market's conditions pretty clearly demonstrated to-da Pricea rebounded so easily that mor of yesterday's losses regained. the year. Mextcan situation and what no’ were all but forgotten. - the improvement in business cond traders, and that of prices more than temporarily. within a month, demonstration of strength, than 2 points in the leading issues. lative leaders, however. easily went up 7 points, Unit the Mexican Petroleunf points, tire list, Equipments, food chemical, leather, motor without meeting rathor than the exception. The money sit closely watched and the opinion spreading that really easy money w. Western banks recently had ew: Joanin, stock market. crop movement will begin and w, have to be financed in great part b these interior banks. Providing stoc market tivity continues mone; rates are apt to go higher rather tha, lower. Your account invited tash or conservative margin Ask for free copy this week's “Market News 3 & Views’’ —.j~———_ EARNINGS, Qgainst $17,838,00 in 1917, Le ane = SS. di sha Company, Inc, reports sales months ended June 30, 191) 370,825, against A401, in sponding period of 1918, an increa: TIRE— RUBBER CO. nt with the Nemours DIVIDENDS. | i gl ner elt rtant ques- ive, low- | || Sept. 1 to stock ‘record Aug. 9. Some half-and-half money was|' priced Mice tanec, ae well as the | r pth cictalh otra placed for shorter dates at 6 er an pioers mer ae Sy ee Boy's Body Found in River, put amount is said to be small. report, which | have prepared for The body of a boy about twelve yoars ie PREE distribution fo ali inter- | |) old was found floating in the East River GRAIN, ted, joff Hunts Point Avenue to-day by J.| "nse for the day at Chicago: pe scite or Ceteghane fer | Clark of No, 48 ‘Third Avenue. ‘The boy High, Tow Clee, oO od . had light hair, weighed about ninety a + Tk pounds, wore a black and white stri shirt, kahki trousers sneakers. The body was removed the Morgue. Transcontinental Oil Caddo Central Oil We have prepared descriptive analyses of the abote stocks and shall be glad supply copies on request. ‘HALLE & STIEGLITZ Members of the N. Y. Stock Exchange 29 BROAD STREET NEW YORK News and Gossip of To-Day’s ‘That yesterday's sharp drap in the were entirely In fact, several prominent issues made now «high records for Before the opening brokers were ascribing yesterday's weakness to labor conditions, tight money, the When the uward movement gob fairly under way these supposed influences Discussion again centred around tions and the large increase in trade that,is in prospect. No better dllus- tration could be had. of the fact that the, daily trend of atock prices shapes the opinion of the rank and file of the opinions of these traders never shape the course ‘Among the favorable announce- ments of the day were that the price oe .. free’ which of copper metal again had been ad- “ve will mail vanced, this’ tite ‘to 24 cents pet |}\orn Gives catamits on pound for September delivery; that © ‘charges, deposit require- steel! mills again had increased opera- mente, hoy ed how to. tions; that the Government, appar- eae rv 4 ently fearing a general increase in for No. EW. steel prices, had decided to place an- other large order for steel rails, and, lastly, that the decision to increase freight tariffs may be made public Whether the last report be true or not, railroad atocks gave an excellent Gains were general, and extended to more Otis and steels were the real specu- Cructbles States Steep gained 2 points to 100 3-4, $) ‘Texas Company ‘Jumped 7 pointi, iad Hw te Hd Poe ty! 40; Victo A® a matter of fact there was not weak tin the en- ‘one conspicuous spo! and other shares, all steadily worked upward e seridus opposition. Gains of 3 and 4 points were the rule tion still is being not again be witnessed for a consider- abl “fined to-day brokers were bid- di high T% per cent. for time fontie, bat u e aupply was extremely Mmited. It is to be borne in mind tha 6 money very jiberally in the In about a month the Net profits of Royal, Dutch Petro- leum Company for 1918—$29,020,000, Computing- Tabulating- Recording Company—Six months ended June 80, Surplus after charges, before 94, equal to $9.15 82,700 capital stock, against bail AL or $885 @ share in Great Atlantic and Pacific Toa -y five ol The Phiia. Co. declared its regular semi-annual dividend of $1.25 on the preferred 5 per cent. stock, payable and white BANKING AND FINANCIAL. en ne FINANCIAL News. |LABOR CHIEF CAUSE Total sales stocks, 1,399,400 shares. Net Lom, Last, Ohavae, om Mm +t ay wer st " + 2% hed Mi 86M + 1% was + y. | +1% rd % 1 am ‘ 4 » ‘ ~ % 4 t. 1% 1 a ™ * ou ie ™ 1% s “ * - 2% 2% 1% Seeks ee Fr < ee * * 3 o% om % 2 Stl +% - ¥ + 1% + & SFEEEEEEEFEEEE FFE EEE EL EP eee eee sete eeeGel e my 00% a a i LIBERTY BONDS 1 P. M. 3 1-28, 99.52 up .08; Ist 4s, 92.76, oft 1d | 04; 2d de, 98.18 off .02; Ist 49, 94.80, off. .10} 24 4 1-45, 93.72 up .06; 34 4s, $4.88, ry 3 1-25, 99.60 ‘up 0.04; Lot 4s, 76 . 24 4s, 9322 wp 0.02; ist up 0.10; 24 4 1-48, 41-48, oft 0.0 up. 0.087 Victory 3 4a, 4% 99.98 wp 0.02. ‘OILS ON THE CURB.’ The opening was trregular: Hous. ton, = 117—111 Midwest, — 17%—177; Transcont, Oil, 473-8—471-2; Merritt, % 3-4—26 1-2; Cosden, 11 1-8—11 3-8; | Si) Int, Pet. $11-2—321-2; Simms Pet. 31 1-4—31 1-2; Commonwealth, 59 1-4— 39 3-4; Sinclair Con., 58 1-449, NOON PRICBS, Seaboard, 71-4 to 71-2; Gulf, 55 1 661-2; Sinclair Con- sclidated, 59 to 593-4; Guffey, 22) to ny 84 Amatgamated Royely, 11-2 tol Boone, 91-4 to 9 1- jiroums Petroleum, 811-2 to 315-8 razos, 2181-4 to 29; Commonwealth, 59 to 591-2; Mid-West, 176 to 177; Int, Pet., $11-2 to 32; Cosden, 111-8 to 111-4. ‘oft 0.02; 4 Sinclair Ah 7 k y a CURB, a The opening was irregular: Asphalt, 88 1-2—84 1-2; Hupp, 18—13 1-4; Mother Lode, 43-8—-45-8; United Retail Stores, 941-295; Tobacco Products Exp., 33—%4; Boat, 18-19; Intercon- tinental Rubber, 22-24; Cramp, 183-- 1%; National Aniline, 47-60; Allied Packers, 61 1-2—44 3 Peerless, 43—47. ‘The close was firm, Boat 18 1-2, Intercontinental Rubber 23, nited Retail Storgs, 96 1-2, up 21-4; Asphalt, 86, up 9; Midwes 1771-2; Houston 1191-2, up 1-2 Transcontinental Oll 477-8, off 1-8: Sinclair Consolidated 60, up 1. MONEY. Call Money—Mixed colateral opened 6, high 6, low § 1-2, renewals 6, rul- of $11,969,430, ing 6, closed %1- 1 inde cn TRAL | LBATHER — Quarter | opened 7, high 7, low 6, reneweie tt XOU investigated the pow |} ended June 30, 1919—Surplus after | ruling 7, closed 6'per cent. ot Perfection « $4,239,845; TIME MONEY, Vin it ee us quarter} ©, oan oe ah June, 1918, quarter grrowers continue to bid 7 per cent. for new accommodations on time for all periods on straight in- dustrial loans, Loans and renewals are also made on this basis, 108, +4 10% to Steel & Tube Company of America has filed with Secretary of State certifi. cate of increase in capital stock from $25,000,000 to $26,750,000, In connection with announcement of his resignation Mr, Evans stated that he has disposed of the holdings of his con anies and those of his wife in Cuba ‘ane Sugar Corporation. ‘One of the seven wells which Shaffer Ol) and Refining js drilling in the Beggs | District in Oklahoma, reached, the top of sand No, | Tiger July 20 ang is flow- ing at rate of 100 barrels TO-DAY'S PRICES -F GA SITUATION HERE, SAYS HEDGES Companies in U. S. Receiver Tells Commission. York Street Railway situation was the subject of inquiry to-day before {the Federal Electric Railway Com- mission, Job BE. Hedges, receiver for the New York Railways Company, being the chief witne panies throughout the country, testi- mony regarding which already had been heard by the commission. “As @ concrete example of the sit- uation,” Mr. Hedges said, “during the six months ending March 13, 1919, the New York Railways Company earned in operating income over its expenses and taxes, only $20,265, In that period the company also failed to pay its rentals and likewise failed to pay the interest on a small underlying mort- gage on roads actually owned by it by more than $54,000. “On a valuation of $50,000,000, which is very conservative, the company paid, during these six months, less than 1 per cent. Furthermore, this 1 per cent. does not allow for fixed charges, like mortgage, interest and rentals on leased ‘linés, or depreci- ation.” Mr, Hedges attributed the com- pany’s poor showing to the increased cost of operating expenses, especially labor, City experts, Mr. Hedges said, admitted, after a thorough igvestiga- tion, that relief in some f for the company was nécessary. In an Sffort to cover the ground thoroughly the Commission has de- cided to hold might sessions, begin- ning to-night. UNIONS OPEN SOUP KITCHENS FOR STRIKING SHIP WORKERS e Men Prepare for Long Siege as Deadlock Seems Tighter Than Ever. The marine strike situation, instead of growing better to-day, as had been expected, grew worse, and some of the strike leaders said they were convinced that the ship owners were preparing a lockout. This belief wag based on reports made to Thomas L. Delahaunty of the Marine Bngineers. He said that engineers had come to him with printed slips which they said were being distributed by ship owners of the American Steamship As- sociation. The slips, which ask the men to sail with non-union crews, were hand- ¢4 to engineers on various ships, it was reported, with instructions to “sign or leave the ship.” The crew ‘of the Pot xy ship Ponce tied the Brooklyn to-day. signed Rico line steam- up in South mai the ana oft to-day ing th tr ¢ men day, saying they must to Boston fret, but they refused, bad ang seamen beeen by ith day e deadl opéning two soi kitchens in Manhattan and ae to open another in . The two kitchens opened in .Manhattan are lo- cated at No. 164 Bleventh Avenue and No. 40 Burling Slip. The one in Brook- lyn will be opened at No, 110 Hamil- ton Avenue, B. R. T. FARE RAISE SURVEY UNDER WAY Franchise Terms Being Analyzed to Take Advantage of Court Decision, Carl M. Owen, counsel for Receiver Garrison of the Brooklyn Rapid Transit Company, is working to-day on the preliminary steps for an application for increased fare Whether the fare seven or eight cents has not be clded, It is said that this investigations largely on now being made by B. R. T. legal staff, Owen has asked the company lawyers to examine all the franchises of the to point out just how to apply In eaeh case the decision holding the Public Service Commission has wer to raise and lower the rates company lawyers will report Owen, who will then prepare, the Detie e ton for Mr, Garrison to the Public Ser- vice Commission. B. R. T. TO RUN SHUTTLE - ON SMITH STREET LINE New Plan Devised to End Com- plaints Against Coney Island Service, A shuttle service has been devised to remedy complaints against through car service on the Smith Street line be tween the Brooklyn Bridge and Kings Highway and Coney Istand. Ordered to . |improve the service by the Public Ser- R. T, blamed | vice Cometesionsr, the B, a infrequent servige on the interruptions by navigation of the Gowanus Canal. To avold delays that were as long as fifteen minutes at times, the, shutile service will be maintained betwéen Park Cirele and points Bast, ‘Phe innovation will be continued until’ Oct. 6, when the subject will be ed before the win- reopen ter schedule goes into effect. peakeiveeNte acianal the reorganization of the New York Guard are being discussed at a con- ference In the odee of the Adju t . Major Gen, ‘ofRyan the Guard,'Is presiding. of the odcers from the nding. | WASHINGTON, July 22.—-The New UE ) . aca PUL 3 NO LUMBER TRUST TOCHEGKBULONG, SHYS BONY DEALER CLOSING STOCK QUOTATIONS. Not Unlike That of Other Lockwood Committee Told | That High Price of Labor Blocks Business. The Lockwood Legislative Com- mittee on Housing resumed its hear- ing in City Hall to-day with a num- ber of lumber dealers as witnesses, Abram I. Elkus, head of Gov. Smith's State Reconstruction Commission, conducted the cross examination. The Discussing the situation in which| object in summonsing the lumber the New York Railways Company | dealers is to learn whether there is finds itwelf, Mr, Hedges said it Wa%iq combination among building me. not unlike that of many other com-/terial men by which prices are kept up and some builders discriminated against. E. C. Barnard, Vice President of the Church EB. Gates Company, Bronx lumber @ealers, said that at present the Gates Company is furnishing ma- terial for but ten houses, At this time of the: year before the war, the witness said, his concern would be furnishing material for at least 100 houses. In reply to a direct question, Mr. Barnard said he did not know that there was a combination keeping up Prices. He admitted, however, that lumber dealers. exchanged informa- tion, and said: “ “T sold my last lot of lumber at $80. Other lumber dealers thought they could get the same price.” Mr. Barnard informed the commit- tee that lumber mills are now en- deavoring to sell directly to the consumers. They hope by cutting out the middleman to get\a larger Profit. One of the results of this will be a lumber famine, he said. “Why is there so little building?” asked Mr, Elkus. “Because the price of material is nearly double,” replied the witness. “A few builders did start work in the early spring,” hesadded, “but condi- tions have ie gradually worse and bulding is diminishing. Some one and two family houses are being erected in the Bronx, but builders are erecting few large, apartments on ac- count of the cost.” “Why doesn’t building in course of construction progress rapidly?” asked r, “On account of labor troubles,” re- J ni r i plied crease,” semi-skilled market Mr. Barn: reason: sell al much It cost you buyers,” to-day. The W. MacBurney, was & shortage of ‘The warrant foi ing have confessed. ‘The hearing by water, amounting have mumed ‘W. A. Marshall Co., Inc.,~ told C. storage facilities at a time and had to-mouth system. “Any lack of labor?” “There appears, to be plenty of jabor.’ “Any lack of material?” “No, but it ts ind the mil mendous prices. Before the war build- bf timber, yellow pine, was selling $27. Now it is $80." “First of all builders need money,’ said. “Then they require assurance that they can profit. Under present condi. tions a builder cannot expe>t to sell a house that cost him practically twice as much as before the war. If a buyer comes along and you tell him how hard to believe you. For t very few buildings put up now have manufacturer: are getting tre. to build he'll find it t reason eo BANK CASHIER SHORT $900,000 SURRENDERS Officer of Philadelphia _ Institution That Failed Owing $2,000,000 Said to Admit Theft. PHILADELPHIA, July 22.—Ralph T. Moyer, Cashier of the North Penn Bank, for whom & warrant Wad been issued, surrendered to the District Attorney on Friday last owing lepositors. bank closed ‘more than $2,000,000 to di arrest was sworn out by State Bank Examiner Fer- en It charges jefunct bank = with ment, rehypothecation, falsifying books of the bank and falsifying accounts. It is understood Moyer will w: the cashier of the perjury, embezzie- re a hear- a will give bail. Moyer is said to DEMURRAGE CHARGES EAT COAL PROFIT, HE SAYS Interstate Commerce Hearing Pro- ceeds Here Against Railroad Administration, the Interstate Com- merce Commission on the complaint of the Wholesale Coa! Trade Association of New York, that unfair and unfawful demurrage charges of the Railroad Ad- ministration on coal cars held at tide- to nearly @ million dollars since the armistice was si 6Tavely hampered the coal and business generally, at the Waldorf-Astoria to-day. in- was re- of W. A. Marshall & P. Allen,, counsel for to questions by Attorney H. 8. Drii for the coal association, that the hotels and factories of New York had for a week's suppl; to buy on a hands Purchase Price 1s Not Givéris-but | Building and Land ArewAg- t sessed at $6,630,000... Gimbe! ‘The property was purchased from the Greeley ‘Square Realty Company which in 1910 leased it to Gimbel Brothers for 10% years, 324 Streets on Broadway and goes back 400 feet toward Seventh Avenue. cording to Gimbel's announcemént, the purchase will cause an annual saving of $260,000 to the store ‘When the McAdoo Q Remarkable Sale Wednesday Smart Skirts ‘Of White Gabardine Attractive models for sports wear. Novelty pockets and detachable belts. | Brothers announced they have purchased the ten story bulld- Ing they occupy as a department store on Broad ~ THAT THEY NOW OCCUPY and big hotel. It was learned, that the charter of the tunnel o could not be stretched to embrace operation of a hotel, so the propert, y turned over to @ Holding company Dougias Robinson, It n leased to Gimbel Brothersy ---——>- Tidal Wave Sweeps SAN FRANCIACO. to-day July ith the land on which it| Tonga groups in the Pacific the clty tax list. | gecording to reports, br: day by Capt. Jacob Olson of schooner oun Fiona It extends from 324 to acs lot the A. E. F. in R to-day showed a total of 139 in battle, oaths from dise: kpense. other causes, 304 innel system was missing in BROOKLYN PPENHEIM,GLLINS & G| Fulton Street, Brooklyn Women’s Special ‘ Made of the Choicest Products of the Farm + Try a few bottles or order a case for your home. If you cannot get N. A. B. at the Deli- catessen Store, Grocery, Restaurant or Soda Fountain, write or phone, and we will see that you are supplied® S. Liebmann’s Sons, Inc. 36 Forrest St., Brooklyn, N. Y. Phone Stagg 2400 xand Town, 2.—An earthquake and tidal ‘wave swept Pans gal, a town on one of the isiands of the — Just south of the Equator, on April 30, devastat! the Island and leaving its 250. inhale tants and fifty traders neac starvation, ought here tos was ore was