The evening world. Newspaper, December 6, 1921, Page 24

M —_—_— «(0 To 11. ‘stock market this ony, ince. The bulk of in specialties that are ordin- quite inactive and which are ity responsive to pool operations. relen exchange market was the centre of financial .nterest. Be- the opening of business to be generaliy anticipated it the tremendous circulation of German paper y—this increase during the last amounted to approximately 000,000 marks — would cause wy selling of German exchang r influence the German might have more than offset by the seem- growing prospects that Ger- y will be vranted a three-year oratoritm on cash reparation ments. : facter was discussion of 4 Joan by this country to Germany. estimates ranging frum $100,000.00 to $200,000,000. On a volume ‘Dusiness that probably was the lar he value of id although it mig’ it France would suffer by moratorium French fran public. them the natura’ F «THE COMPTROLLER OF 1 THE CITY OF NEW YORK will sell at his office in Room 530, in the Municipal Building, on ; Thursday, December 15, 1921 at 12 o’Clock Noon # $55,000,000—414% Gold Corporate Stock of The City of New York, E payable December 15, 1971. |. Exempt from Federal Income Tax and from ~ the Income Tax of the State of New York. tof New York. rcircular to d to be almost entirely in the of floor traders and big operators. The lis! was without definite trend, during the first hour of busi- presented a very irregular ap- An interesting booklet on New York Vimburgh Detreit Baltimore strong. Demand sterling rose to $4.07 5-8, thereby high mark of the year, Neat in point of foreign xchange market was the movement of bonds. continuation of strong buying the various Liberty Loan issues and | the tendency was unmistakably up- ward, There was, also, a distinct tendency toward further relaxation displayed by the money inarket. rate of demand loans was reduced to 41-2 per cent., and for the first time since the early part of Sep- tember, 1917, bankers were willing to make loans with Liberty bonds as collateral us cent. 11 TO 12, On a volume of trad'ng that was cou- siderably smalier sessions the market be very irregular 18 the session went through the second were Inclined to heaviness, but, ex cept in the case of Pennsylvanta~ which sold within half of the low of th Was not at all impr Speculative largely to such issues as Cons: dated Textile, International American Woolen, Natlonal Biscutt, Ina Chemical, Pit other specialties. stocks we ‘teel stocks were firm despite re. BANKING AND FINANCIAL. there were no railroads—no tele- graphs—no telephones. The nation was small—entetprises were smail. As industry commerce and trade developed and expanded, the demand for capital became greater. Since 1820 the New York Curb Market has con- stantly met this requirement, thus aiding the tre- mendous growth of American business. The regular membership of this exchange is limited to 550 members, who operate under a constitution which provides maximum safeguards for the And Jones & Baker, nearly 40% of whose new customers are introduced by old customers, are one of the leading factors in this great market. They have developed service facilities which make information headquarters” for the stocks traded on the New York Curb Market. Bids must be delivered to the Comptroller in sealed addressed to the Comptroller of The City Adeposit of 2 1-2 per cent. of the amount of the proposal must accompany each bid. Such deposit be in cash or certified check upon a New York ite Bank or Trust Company, or any National Bank. _ For further information see "City Record r any bank or trust company, or send for descrip- CHARLES L. CRAIG, The City of New York. There was a The renewal « point and year—sclling | interest New York Curb Market Direct Private Wires Reston Philedel PROPOSALS. THE EVENING WORLD, TUESDAY, DECEMBER 6, 1921. ports of a further slackening in in- coming steel bust Olle indi- cated short covering and showed gains running {rom fractions to | about a point. 42 70 1, —rae |During the noon hour trading slack- ened further, there being a gencral disposition to await the publication of President Harding's tagssago to Congress, Speculative pools, disregarding re- of an incoming cut in motor car prices, staged a demonstration in these .ssues and under leader- ship of Studebaker the more prom- inent stocks In this froup were run up for gains of a point or more. Studebiker was able to show a. net gain of more than 2 points, ‘ [T0?. President Harding's message was nearly everywhere favorably re- celved. His recommendation that the further iss ice of tax exempt securities be made unconstitutional Was considered highly constructive, No disappointment was felt at the failure of the President to include @ recommendation of financial re- Net of the carriers. But, the market was enly mildly stimulated by the meseme, Mails in most cases were able to recover recent | Practically all of their early losses, and bull pools for a time increased the vigor of thelr operations in specialties, But the market, taken a4 a whole, lacked snap and indi- cated that it feels the want of a substantial short interest. | 2 TO 3. The market turned decidedly stro Sears-Roebuck, y strong in final trading, and jt seemed that the more or Jessy urgent new buying was Induced by a more careful an- tulysis of the contents of the con- Fee > message of President ‘din, Motor dtucka, the oils, tire shares and ; eauipments on a” materially in- .| reused volume of trading rose to new high marks for the day and in } umerous instances net gains amounted to two points or more, The leading railroad shares had no difficulty tn joining in the forward movement and before the close most of the carly declines were con- vrted Into comfortable net gains. The rate for call money was ad- vanced to 5 1-2 per cent. in the last hour, but the moncy position is now #0 well understood that the higher call rate was without the slightest effect. The market's rise was also helped by the movements of foreign exeh:tnize rates. Demand sterling sold at $4.08, a new high for the year. Francs showed a net gain of 10 points. The wheat market in late dealings turned heavy and closed with a net loss of 21-4 cents a bushel. Cotton cloved from 26 to 85 points higher. Tt was the concensus of Wall Street opinion that the ssage President Harding sent to Congress this after- noon was highly constructive. From the financial point of view the most striking part of the message was the recommendation that there be enacted a law making the further issue of tax exempt securities unconstitu- tional, This recommendation was well received and it was snap judg- ment that Congress will act favor- ably upon it. It is likely to mean, for time, an active demand for this class of securities, but if the law is enacted {t will result in a vast amount of funds whieh undoubtedly would be invested in tax exempt securities be- ing diverted ‘to manufacturing and agricultudal purpo: This cannot help but be highly constructive. The failure of the President to recommend relief for the railroads was not un- expected and, therefore, was not dis- appointing. Satisfaction was ox- pressed that the subject of shipping will be dealt with in a message which it is expected will go to Congress at an early date, Although it seems impossible to obtain from any of the important banking houses of the street a defi- nite statement that a loan to Ger- many willbe madg witHin the next month or so,the opinion is crystalliz- ing that bankers of this country, under Government sanction, will loan from $100,000,000 to $200,000,000 to Germany within the next two months, While local banking interests assert that negotiations for such a loan have not been taken up they admit that the consummation of a loan of this amount is far from outside the bounds of probability. Movements of foreign exchange rates commanded as much interest this morning as movements of stocks, Trading In German marks, French francs and Italian lire was much mere active than on any recent day. The German bank statement showed that the issue of paper marks in- creased to more than /100,000,000,000 marks, a jump of approximately 4,500,000,000 over the previous weck. In spite of this the mark at one time was quoted at 54-100ths of a cent, a net rise of 10 points, And although the probability of a three-year mora- torlum on German cash reparation payments was actively » discussed, francs were conspicuously strong. De- mand sterling touched $4.07 5-8, which cguals the high’ price of the year. Fo rthe first. time since the early art of September bankers to-day were willing to make loans secured by Liberty Bonds as collateral as low 4 ‘per cent. interest rate. Adame Express Adv Rumoiy Ajax Hubbe: Alaska Gold .. Alaska Juneau Allie Chalmers Am Agr Chemic Am Am Am Aw Am Am Am Am An Am Ks, Am Hide tg Byatt es ai & Laat, Am HO& L pf Am Ice... Am International Am Linseed Oi, Am bin OU pt. Am Locomotive. . Allied Chem. Am Safety Razor Ain Ship & Comin Am Smelt & Itet., Am Sinelt & Hef pt Am Stutt ... Am Steel Fy. Am Sogar Aun Sugar pt Am Sum Tob Am Tel & Tel Am Tobacco ,...+4 Am Tob pf new ‘Am Tob ts B {Am La France. . Avu Radiator . Am Wool Aim Wool uf... Am Zine . Anaconda. Aveta Realization Amo Dry Goode... Atchison Ryseseoss Atlanta Dir & AU AU Coast Line... Atl Guilt & WT Atlantic Froit Baldwin Loco Malt & Oilo, Balt & Ohio pf. Batovilse Mining. Beth Steel... Beth Steel 8 pc. Neth Stee! It. Brooklyn RT... Brookiyn RT etfe Wkly Union Ga: Burns Bros. Botte and Saperior. . Butterick Rarmwdale Bb Cadto Cent Oil Cont Leather t Leather pf Cerro De Pasco Chandler Motors Chee & Ohio... Chic & Alton Ry. OM & st Pom. CM & Bt PRR vf Chie Pneumatic Tonk chic Rt & Pac.. CRI & 26 pe pf CRIE& PT pe pf Chie Gt West sees Chic Gt Weat pf Olive & North Ry Chille Comer yo... Chino Comper coe. Coca-Cola, Col Fuel & Tron Col Gan & Elec, Columbia Grapho Comp Tab & R Consol Cigar Con Textile ...... Con Int Cal Min Cont Can ...... Cont Insur Ceeden Oil Com Prod pf. Crucible Steel .... Ouba Cand Sugar, . Cuba Cane Shear pf Cvban Am Sugar, . Famous Players pt Fed Min & Bm.. Fisk Rubber . Freeport ‘Texas Gen Amphalt Gen Anphalt pf Gaston Wil & Wig General Cigar General Electric General Motor Genera} Motor pf. Genoral Motor dob,, Gen Motor 6 p c., Goodrich... Goodrich pf .. Granby Mining . Gray & Davis. Guan Sugar . Guit States Steel. Tartan Corp Haskell & Barker, Hendee ... Mouston Oi) Hupp Motors. Minos Central Indiahoma Ref , Inep Copper... Inter Cons Corp ... Inter Cores Cop pt, Inter Age Corp .... luter Agr Corp pt. Inter later Inter Inter Inter Mer Mar THE CURD--CLOSING High, Low, Las: INDUSTRIALS. 800 *Aome Packing 1400 British Amer To 1400 Burns Bros B. 400 Cal Cr Fruit... 126 Celluloid Co pt, 800 Columbia Kmeraid 100 Cont Motors 500 Durant Mot . 100 Federal Tel , 1600 Farrel! Coat, b+thttt $4 200 George's Clothes "Glen Aldon Coal. ., 1.0 Gooodyear ‘Tire pf... Imperial Tobacco , Loin & Nasi. 100 Inter Products 200 Libby MoNett LUncotn Motors A. 60 Néw Jersey Zinc , 200 Packard Moto Perfection Motors Matilewon Ale Was Southern Coal & Iron. 100 Stand Com Tob {Atinn & St touis, jMo Kan & Tex. 100 Swift International . Montana toner. United Profit sharin, United Met Candy *West End Chem , Willys Corp ist, NSYNU&H.. a + He 4 R, + 3500 *Boston Wyoming 2000 Cartb Synd 400 Cithes Service 150 Cities Service pf. 120 Cities Service old. 200 Cosden & Co pf. { 100 Creole syn. 4000 *Cushing Pet 1800 "Edmonds O41 #0 Elk Basin Pet. 10 "Engineers Petroleum 300 Federal Ol }VanAm Petroleum Vere Marquette Phila Company Phillips” Petroleum. fitteburgh Coal its & West Va, 1d Creck Coal. emed Steel Car. {ullman Company. Vouta Aleg Sugar. 1900 Gullland O11 1500 Glearock O11 +1 4700 Imperial Ot = +1++1 ‘Meridian Pete Law Stewart-Warnor ltt Submaritio Boat Replogle Stesl.....+ Hep Iron & Steel. Rep Iron & Bl of Republic Motor . Royal Duteh N ¥.. Fl ttt) StL & San Fran. Vt 1. se Soutiswent.. 100 Alas Br Col 100 Arizona Sliver +++ 1+14+41 1000 Gold States 330 ee Fa Union Pacific . Battie e ESS: lagms Cop |...) 100 Motherlode cit National Tin ei 20S 12 0,8 Ind Alcohol "o's Realty & Imp Md U 8 Rutber .... 109 Tonopah Heim 1000 Tonopah Cash Bi Hleel ee Fel lteete + F$ttet] + + + + Western Union NKING AND FINANCIAL. | BANKING AND FINANC! ee ES PE: Imperial Oil, Ltd. Internat. Pet. distribution. Anglo-Amer. Oil S. O. of New Jersey ‘The steady activity and closely affiliated relationships of these com- panies and their bearing on correlative stock market movements is concretely set forth in a special pamphlet just prepared for public Write for Q-36 LL WINKELMAN & CO. 62 BROAD STREET, NEW YORK Telephooe Broad 6470 Branch Offices in Leading Cities Divoet Wires to Vertous Marbots BeBe tHwweSSSumaureuioncuan ———— FORBIGN EXCHANGE OPENING. French francs, de- | 10750, up .0003. Lire, demand, ,0430; cables, .0431, off demand, .0726; mand, .0749; Belgian fran cables, .0727, up .0009. mand and. cables, Greek drachmas, demand, .0405; . 0410, unchanged. Swiss francs, | By E. J | Ker in a shirt factory, pinned Hendy reply, Gard, campue in Canada, maiicd @ Baaie onto Rel canoe, ‘an out-ot-th far indian, Jobn, cainp, There Sadie told Larry Hivingston, Stoddi x1 ods, ‘They told him of the search being |, onty a southbound express. After iy no, explanation except wer Stoddard sked Larry Cat left abruptly herself, and Sait CHAPTER Vill. (Continued. » Larry credit for this: He had the courage of his med- dlesomencss, “Stoddard is very fond of you,” he said quietly. “£ Imagine that you are rather fond of him," Larry continued. “Now, of course, you may think this is something I have no right to talk about. But Stod is a friend of mine, so I've taken the lib- erty.” “T notice that, Go ahead.” “Thank you. I'm geing to assdme as a basis for what I say that you are very fond of Stoddard. If you do care for him it does you credit. He Is a fine fellow and he is worthy of anybody. “Stoddard comes of a very old New York family. Hits people are not only wealthy, but thelr social position is exceptional, You have seen his mother and sister, He is a man of education. He has already done brilliant work in his profession and ho has a big future ahead of him. His family—his mother—worship him. ‘They think more of his career, prob- ably, than of any other thing in this world.” Livingston seemed to be at a loss to proceed, “It’s rather diff- cult to say what I had in mind.” “You needn't say it if you don't want to. You mean I am different from him. I'm ignorant. I don’t taik right. I ain't got a social position, I'm a factory hand. It's said now. Go ahead.” Larry sighed softly, “Well, what 1 just wanted to put before you was this: Take a men like Stoddard, with all that he is and all that he can be. Take a girl—weill, like yourself. As- sume they love each other. Assume that this man should desire to marry this woman, Assume that he -tells her so.” Sadie waited grimly. She knew !t was shameful, this cold, impersonal vivisection of a thing that breathed with life and love, but she steeied herself to hear him out. “In that case,” Livingston sald slowly, “and assuming always that she had eal love for this man—and love means sacrifice—what would this woman do? That's what | want you to think about,” he added and turned away. “Thank you for listening.” He walked steadily until he had gone from her sight, unhurried and methodically, like a man conscious of a duty properly performed. An hour later Sadie was still sit- ting where he had left her. She was looking out across the water, but she saw nothing of her big outdoors, Her eyes were calm and clear, her face peaceful. Now and then her lips moved without a sound. “What would this woman do?” they were saying. Then: -“f know.” Back in the camp Livingston found Stoddard smoking in grim silence. The big man Jooked angry and un- happy, but he was not. He was seri- ous, but yery content. He scarcely raised his eyes when Larry an- nounced that the launch from the hotel was in sight, and he did not move from his place until it neared the landing. Then he went to meet his mother and Betty. “They tele- phoned us from the station that your uncle has arranged for a special loco- motive,” said Mrs, Stoddard, "So we are going now.” Larry had already climbed into the Jaunch, “Won't you change your mind, John?” Stoddard shook his head. “No, mother, Thanks uwfully. I'm going to stay here a while.” “At least you'll come to the station with us,” pleaded Mrs. Stoddard. He could give no good reason for refusing, After all, it merely meant a few hours. Then he would come back and— “Surely,” he said. “Wait a minute.” The Indian was dozing the forenoon away, up by the camp fire. Stoddard went to him and shook him by the shoulder. “I'm going up to the station,” he said, dropping his voice to a low key, “Tell the lady I will be back. Put yourself at her orders and take good care of her." The launch swung away from the island, with Stoddard aboard and his canoe towing astern. Mrs. Stoddard did not revert directly to the desire of her heart. But she aid talk of Estelle Wallace—casually al- ways, yet persistently and adruitly, At first Stoddard paid no attention; jater he found himself listening in quiet amusement to his mother’s skill, At Deepwater Station Stoddard sought Billy Mason, the stationmaster, and drew him into 4 secluded corner, Looking him steadily in the eye, Stod~ dard asked: 1930, up .0003, cables, .3580, 0005, Sweden kro. mand, .2395; cables, .2400, up Norway kronen, demand, .1445; up .0002, Denmark kro- 1870; cables, 1875, up Guilders, demand, .357! cables, 1415. Wy eee ward, Billy?” Mason's eyes squinied and twinkled “I guess I could tind him if I needed the money,” he chuckled, “Well, 1 made an awful mistake, MISTER 44 Surprising Story of Love and Humor Copysiant, 1921, by the Hell Syndicate, In made parted 1: found them fr made an unexpected visit ar night to urge him to accom, “Are you hunting a lunatic fora re- | Billy. But for heaven's sake don't . RATH | a. SYNOPSIS OF PRECEDING CHAPTERS. eens, & Bole tn The pocket of & wicg 44 whirl, Jonn stoa- which reachea Sadie the day the Shrimp divenargst Net. She decided to find @ Job in Canada, and wired Stddderd. Me hustled the girl he supyosed wes reas, only 10 flnd, that Kadlo was at lower Kiation. A siorm swamp Siodaara wit They wet Meulty rescued Sadie, i ‘made Abele departurs ms, In fact, oho Kober hands tin hi What di Jou want give me away, You won't lose a cent,” “Oh, 1 knew there waa some mis- take, Mr. Stoddard. But 1 was fooling “About that reward. Lord, 1 wouldn't give you away!” “Just the same, I'll see you don't lose anything,” declared Stoddard, gripping the station master’s hand. “Just forget you ever suw or heurd anything.” “Sure thing.” ‘There was delay in departure of the private car that was interminable to Stoddard, The speciul eng not appear for more than an hour, and after this came a long wait for tele- graphic orders and the clearance of a right of way. Tt was midatternoon when the car pulled out. The parting between Stod - dard and Livingston was of the brie!- est character. There was, however, 4 quiet smile on Larry's lips as he joined Mrs, Stoddard and Betty on tho rear platform und waved a good- by to the big man who stood in th middle of the track, looking after them. Stoddard did not wait for the car to disappear from sight, but went down to the landing, where his canoe lay, and began his ten-mile journey down the Northeast Arm. Two hours later he sprang ashore upon the island and hurried up to the camp. Neither Sadie nor John was there. With eager steps he set off along the shore A complete circuit of the {sland brought him back to the camp with no sign of Sadie. He raised his voice In a halloo, but no answer came.’ Then he noticed that the Indian's canoe was missing. It was not until an hour passed and the sunset had come that he began ta ne alarmed. He had visiens of mi haps, to a frail canoe, He pictured Sadie in the grip of some unhappy nd perilous circumstance. When he could stand the suspens+ no longer he leaped into his canoe nd made a reconnaisance. Whithe- to go, however, he could not tell, so {his search consistea merely of a tiin ‘around the island.~ Landing again, he fell to pacing the narrow limits of the camp like a creature in a cage, | Stoddard was still enchatied by fu- j tlle worry when a glance toward the | lake showed him the Indian's canoe approaching the island. There was ' Nobody in the canoe save John, smok- ing unconcernedly and wielding his paddle lazily. Stoddard called across the stretch of water and waved his arms wildly. The Indian put down bis pipe and quickened his pace, | “Where is she?” cried Stoddard. a the canoe neared the island. “Gone,” answered John unemotion ally, “Gone where? What do you mean” “You got letter? In tent.” Stoddard dashed up the bank a) dived into the tent, Lying on ti blankets was a folded Paper, weighty | With a little stone. He scized it an carried it outside. Badle had written: Dear Friend—Im golng away Jack its the best way. I guess a girl ba got to work in the city. But 1 ain Sorry I came up here Jack. I hope its all right for me to call you that, jis only for now anyhow. You been awl 00d to me and I cant ever thank you for all the things you donc? Ive hau a little bit of outdoors anyhow aa) they cant ever take that from me But I can see I made a mistake comein= at all. I did a lot of thinking whil» you was gone with your mother Livingstone maybe will tell you smu time, for he is right even if I don: like him, So good-hy Jack Im going to be- Neve youll think of me once in a while because that wil help some Im sor: I cant write you a better letter but Did you know I been praying fv you every night [ always will Jaca. God bless you SADIB. “Where did she go?” Sgtoddard shouted. “Took train,” said John placidly there?” The Indian nodded. Stoddard swore aloud. “Where is she going to?” John shrugged his shoulders to in- dicate that he had no idea, “Did she have a tieket?” ‘She would pay on train, she sald.” You went by the portage? “And you're positive she didn't s+ where she was going?” “She suld she go home, She dida't He turned upon the Indian savagely. “How dared you take her away frou and | “You tell me to take lady's order. | You don’t tell me to keep her bee You say take good care of her," addog John in self defense, “Il do. he catch train plenty time.’ Do Not Miss Te-Morrow’s Interesting instalment. :