Newspapers / Wilmington Morning Star (Wilmington, … / Jan. 1, 1921, edition 1 / Page 11
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THE MORNING STAR, WILMINGTON, N. C., SATURDAY, JANUARY 1, 1921. Finaieeia! Comm " ' , - .ST COTTON . yOKK. Bee:- 31.-Opening dei J V. . . 111.. il. Cl?tn market, here today. March conl Sots soM-up' from 13.45 to-13 and i ed -t 13.69. compared ' with ? 13.6& C; niht. Tne general list closed "last, niff . i t o,w at a net decline of four to s! - nninis No special feature in the pral news was emphasized -during morning. nd the recovery was at, 1 h,,tVd largely to some trade buying coverfnf -for oyer' the holidays. Thp market opened steady at a de ," of l" lo 20 PoJhts in response c inwer Liverpool cables ; and over-w- i t selling orders which, probably "'"fluted the easier spot basis- reported We southwest late yesterday. It in -"a however, that the 'market-had u n u'retty well liquidated -earlier in ex 1 v ... oftor - th" flrot .nt r-r oiH'" orders had been executed there as -a result prices cover-- was New England mllls-which 1 J Ill winnd tiie rinff. As -a result bonded readily to scattered ng with January seaing uj i .rdf May to 13.97 with active no npt advances of abou Si colnts late in the mornlnjf. Closing nrii-es Writ !.. w... i v.. host under realizing. The market will Amain closed until next Monday morn, !5 Trarfp advices from. Liverpool re ported .scatterings liquidation with very Tttlp bUVIllff power auu iiu iiiiiiicuia.Lt) '.InH "for spots but said that the firtinrial news was somewhat better: STiJi of print cloths in the FallRiver J-i,et fur the week were estimated at -i nno pieces and it was reported that gome of the N have heel) Cl tarly in the new year. j DI N'S WEEKLY REVIEW . . , m 'mm i NKW YOKK, Dec. 31. Dun's tomor viii say: ' -The year-end halting in, business is mnr marked thanusual, but indica. tions of improved sentiment multiply,, The general situation continues very ' uneven, as was to be expected, and different trades a.nd industries have ..nnarsntiv not yet reached the point where a decisive turn for the better seems imminent. Some important basic line?, however, have gained a little in activity, . ami m; Kpyew a,nce of a broader demand' after a pro lnnod neriod of waiting has given rise to more confident hopes. One of UiV-fncouragins features at the turn I of the year are the preparations now, i under wav ror an eariy renewal or op i at certain manufacturing es-j labl'ishments. While restriction of outt I inn is still the predominant condition, n'uil attracts moBt attention, the cur tailment has been checked at some places' in the east. And wage reduc-t ::ons are not infrequently" being ac- opted as an alternative to-unempioy ' "Vcekly bank clearings $6,682,231,- DAILY COTTON TABLE :&;J?:.the stk tl- j tiooBu witn an ac mlv0!0"?. "Iwd movement, of a rTi- overnignt gains S. inA?-1"1 f?dJ.W advances minimi w wR.in .Ir? . c -f-.j-s s.wi. 4.B rise wmcn in Umtm 5T":lmiLortant vision , of the ,,Tnr,.r v1"?1 xieworiny am,ong spec- oVTA i ''iiveiy uiue progress w it!infir PercePbly ,at. the close. vi ' " iuoxe or less i optimistic I;?W8iff uthoritative financial inter- strASVh" l any xPlnatJon for the otel.heKek.apart from an " ., X.;. --- v . oia conaiuon. u.mer price cutting was reported tii! aeelcles. Jesued . preliminary i,a"f& drin5Ahe year. and the ir- tZa V3i'. 1 Vrein e.xcnange inai- l.ted adriitinnall cfrnl. - i - WWCViAX. ' Sf11.1!1 actLve session but. fell away -f J' itJliuh- convertible railway Is- ? ty ond al?. were strong. ToUi v-Z-ZJ' v 1 viue. ,77&,000. Old U. S. Donas ver nhsHvAii. nn .an week. lho only striking - feature of the weekly clearing house statement was a decrease of about $19,500,000 In actual reserves, reducing the total ex cess to barely more than $11,000,000. xteservfs nf m k s .. r. reserve bank showed i. contraction of . .jr fii,auvtvvv ana loans increaeea by about 38,400,000. JitiW YORK STOCK LIST Stock re ca Port Movement New Orleans HolidayReceipts 12,-. ovDorts 12.281: stock 474,627. Galveston Middling 13.50; receipts rr.034; exports 19,560; sales 1,047; -tnc-L- 3RS.62S. Mobile Middling 13.25; receipts 963; alrs 154: stock 18.443. Savannah Middling 14.12; receipts stock 149.628. 'Charleston Middling 14.12; receipts 112: Biles 1P3: stock-240.073. Wilmington Middling 13.00; receipts stock 43.253. Texas City Stock 2,887. -' Norfolk Middling 13.25; 1.09 ; sales 45; stock 81,648. Baltimore Middling 14.12; U29: stock 3.6S1. : .BoKton Middling 14.60; receipts 367; stock 12,021. ' . 1 PhiladelphiaMiddling 15.00; stock ii.827. Xew York Middling 14.75; exporU 600; ships 600; stock 24,707. Minor ports Stock 2,490. Total today Receipts 27,844; exports S2.441: ea es 2.039: stock 1.45Z.13, Total for week Receipts 146,473; exoorts 105.637. Total for season-r-Receipts 3,438.449; exports 2,393,643. receipts receipts Interior Mmraimt . -' " : Houston Middling 12.65; "receipts T.S65; shipments- 6,924; ' saleSV 3,699; stock 360.170. : ' MemDhis Middlinar 14.00: l. receipts .1.960; shipments 4,259;- sales 1.350J Stock 270 iK? AntrnstM .MwlfHincr- - 1 3 Oft ; " TftCeintS 97; shipments 700; sales 654; stock 163S21. St. luis Middling 14.00;' receipt -lii- ehiriman o 1 "MA- atnrr i 1 8 8R. Little Rock Middlings li.OO; receipts IAD. -1. ' . . rt a . . , Mm m ti A ' Total- today Receipts 11;374; ship livents 14,527; sales 5,603; stock '975,881 EW YORK COTTON LETTER Kncial to Th Star NEW YORK, Dec. 31. While early r Jrrers in today's cotton' market were -lower, influenced by the weakness of -jv.-rpoof rabies," and seuinff oraers liere from that market, yet- the under tone fras crood throughout the' short Gefslon. t- have a private cable that Barcelona, Spain, bank, rai lure is iinimportant and the financial news pas Improved. Today closes "the most toiemorf.ble cotton year of the present feneration, and finds prices almost at the extreme low reached. The ex pectancy is for a revival of demand for foods and with increased demand i for pot cotton finding reluctant sellers me pric trend should be upward, f ORVIS BROTHER & CO. DRY GOODS MARKET , NEW YORK. Dec. 31? Sales of print ""re mane at s cents a yarn ior urst quarter of the ' year. ."Yarns were Wet. Many new prices were- made fnt f . . - ... " -i niaay, snowing new reauciions ft muslin;., prints, percales and other Jtapio cotton goods. Burlaps markets very quiet; wool gOOOS quiet.? EV YORK LIVESTOCK . XKV YORK. Dec. 31. feeeves: Arm fleers 10.2510.85; choice oxen 10.00 r uur7.75; COWS 2.007.O. -Cahis; firm; veals 15.00021.0 Culls 1nnriis.ii An. - t nnF til trn yard calves .t0 9.00; year-i '" w 7.00. v.tep and lambfe, weak?; ewes- 3.00 E-w; iilln 2.00fffi2.50: vparlinffS 7.00 fJj!: lambs 10. 00S 12.76 1 culls 8.00eP heights 12:00; heavy hogs and little f.--nner su Pounds 11.Z&; rougns COPPEE AND SfUOAR snm? 11 TORK. Dee. 31. Raw sugar norninally unchanged; -.refined auiet at ?-cJ0-Sr fine granulated. Wr,.. fofffte dul,S Rios. 7a COTTON SEED OIL i-ii S- ORK. Dec. 31.- Cotton seed l . Steadv with a. xiriB.ll vninr.UD lowf."i- i c,0.sinS bids were . one , point lm-ilu ?,x nt nigher. saies a.suu Itrimo 1 rim crude 5.75, nominal Ifn ' .,; c'i,tIimPr yellow spot 7.858.iU "'CITS ?ft. AT f .n. n Ko -"v, i.a,jr o.oa; juiy oo. y KA ISLAND COTTON : UianioAH. Ga.. -tec. 31. Sea mitti lVlarket nominal, iuotktions hEnt f- o:n(fa," none: receipts 8: ship u",,s -00; stock 1,673. 'Crop in sight STOCKS CHICAGO, Dec 31. Fresh atrength developed in, tha wheat market today owing largely to signs of further im provement in domestic milling demand. Frioes closed firm y to 2Vi cent snet higher. Corn finished- 3 cents net lower. Oats 1 off to 3 cent stain, and provisions varying from 50 decline to a rise of 60 ceits. WILMINGTON MARKETS SPIRITS OF TURPENTINE Nothiner doing. ROSIN Nothing, doing. ; TAR34 and 15c, X ViKGlivNotnlng doing. i YELLOW DIP Nothing king. HARD Nothing doing, i . . COTTON WILMINGTON SPOT 13c. Am. Beet Sugar . American (Jan Am. Car and Foundry Am. H. and pd ... Am. Inter. Corp. . . . . . Am. Locomotive Am'. Linseed Am. Smelt.-and Ref. .. American - Sugar- Am. Sumatra Tobacco Am. Tel. and Tel American Woolen .... Anaconda Copper .... Atchison Atl. Coast Line Atl., Gulf and W: I . . Baldwin Locomotive . B. apd O.- Beth. Steel "B" Canadian Pacific Central Leather T . . cnandler Motors Chesa. and Ohio Chi., M. and St. Paul . Chi.. R. I. and P Chino Copper ........ Coca-Cola Colo. Fuel and Iron . . Corn roducts .... 4 ... . Crucible Steel Cuba Cane Sugar .... Erie Gen. Electric.....;.. Gen. Motors I G. 'Northern, nfd fGulf States Steel Illinois Central -. lnsp. Copper -. A Int. Mer. Marine, pfd . Int. Nicel i . Int. Paper ., Kennecotr Copper . . . . 1m ana N. Mexican Petroleum . . Miami Copper Mid. States Oil ..... . Midvale Steel ........ Mo. Pacific N. T. Central ....... N. N. H. and Hart. N; and W. , Nor. Pacific Okla. Prod.- and Ref. . Pan-Amec Pet. Pennsylvania Pitts.' and W. Va. Pure - Oil ,. Ray Con. Copper Reading . . Replogle Steel '.. Kep. Iron and Steel . . RoyaLDutch, N. Y. ... St. Lt. and San Fran . Seaboard Air Line .... S. A. L., pfd. ......... Shell Trans, and Trad Sinclair Oil and Ref. -. Sloss-Shef. and I. . , S." Pacific Southern Railway ... Southern Ry., pfd ... Stnd.X)il of N J-, pfd. Studebaker Corp Tenn. Copper ........ Texas Co.- , , Texas and Pacific ... Tobacco Products Trans'. Oil Union' Pacific .... United Fruit U. S. Food. Products ... U. S.-lJid.: Alcohol .... U. S. Retail Stores ... U. S. Rubber ........ Ui S. Steel . O J. . MA U. o. 01cm. ui.w ...... Utah Cooper .. . . Vanadium Corp. Va-Caro. Chem. . Western Unjon Westinghouse Jiiec Willye-Overland .; Invincible Oil jHJghLow 42 26 122 42 42 88 49 36 92 75 95 61 IS 83 87 77 87 37 5374 117 t 37 65 62 30 31 19 20 28 69 77 23 14 121 14 78 27 86 32 51 13 U 17 101 159 15 13 31 20 75 Urn 85 3 75 40 81 35 11 85 84 62 65 24 7 f 12 42 24 50 101 23 58 105 45 7 44 18 52 7 120 199 21 66 52 64 81 108 50 34 38 85 43 - 5 35 41 25 119 41 $; 48 31 89 73 95 58 32 82 86 71 83 35 62 U5 62 60 29 28 19 19 26 67 71 19 14 119 13 76 27 86 28 w 46 15 100 164 15 11 80 19 73 18 98 84 3 72 89 30 33 11 82 33 59 63 23 6 10 42 21 47 99 23 58; 105 !- 43 6 43 17 49 119 195 18 64 50 61 79 107 47 32 35 - 34 42 5 21 Total sales; 991,600. , Sale "42l4 25 121 41 41 82 V 36 92 74 95 60 33 82 87 76 86 36 53 116 64 60 29 27 -1 SBi 19 28 68 75 ' 23 14 121 14 77 27 86 31 51 18 46 17 101 158 15 13 80 19 74 13 ae 84 3 73 40 30 34 11 83 34 61 64 23 7 12 42 23 49 99 23 68 105 45 7 43 17 51 119 19S 20 65 51 63 81 108 60 33 38 84 43 5 zs T NEW YORK BONDS U S. 2s, coupon i ..... U. S. 4s, coupon . Jl gliwmw .-r-t -m -r -------- Amer. smemng ano xveuning ... American TeK and Tel. cv, 6s. V. Atchison gen. 4s . .?. ......... ... Atlantiq Coast Line 1st 4s .... Baltimore and Ohio cv. 4s..... Bethlehem ieei r. os . . of Oeorsria Con. 5s ..... Central Leather 5si Chesapeako and unio cv. os..... ii i r- n an- Oni nv 1oint in Chicago, Mil. and St. P. cv. 4s. Chicago, l. x. ana jrau. n-y. roi.. City of Paris 6s .............. . s-t-- A a-nA finnfhrn Tt-f Danver and Rio Grande con sol. 4s 62 101' 108 82 73 84 8 68 77 88 !!8 95 69 67 94 71 85 43 76 78 75 11 so ; 64 88 105 76 87 79 Dominion of Canada 5s (1931).. Erie gen. 4s ... Illinois Central ref. 4s Int. Mer.- Marine 68 ............ VarrBafl Citv Southern TCf. 5S... Uggett and-Myers 6s . . . . . . . .. Louisville ana xianvuie u. Mo., Kan. and Texas 1st 4s Missouri Pacific gen. 4....S New Yoik. Central deb. 6b . Norfolk and Western cv. 6..... Knrf hrn Pacific 48 - v i Pennsylvania sen. 5s ... . . . . . n....kiiA Twn Ann tpi as i idii ot -rm st. Toiiis and San Fran. adj. 6s. 64 Seaboard Air L-ine aa j. os ....... Bill TjI. Br D Southern Pacific cv. 6s... ...... Southern Railway ,- - Southern Kanway gu. Tavoi arirl Pacifie lSt ....... . D Union Pacific 1 4s . . . ...... - - U. K. of q. ts-i ana x. ora? U. -S. Steel 6s i.. Virginia Car. Chemical 6 ... .. .. Wabash 1st .. .v; Wilson and 'Co. . cv. tjg.. r '., SUR RENDERS TO SHKRIfF aMfl a Th StSUTl I i wTTjeriM n( 21.- Frank, Barnes, one of the tour alleged conspirator charged with matting a. irneuB-w defraud the Imperial Tebacco. com pany, in this city a... few weeks ago, who left when the alleged plot was dis-f namA in-thls morning and vol- untarlly surrendered to -Sheriff Howard r?rSii"5 m be sum of I6.00 lor his appearance at the February term of Wilson superior court.- Besides Barnes. K. I Fenner or uockj aiowh is out on bend, and J. R. Rutrer and W. T. Estes. Jr., ar m jaii, GRAIN PRODlTCffl MARKET. CORN 11.16 to ?L50. BEEF 10c, dull. VEAJU lOo to l?c very. dull. HACON iN. d. ' xunm iiaiil and bhoulders, SOo to 33c. WILMINGTON SPOT 14c. CAKE TALLOW 5c. BEESWAX soc. - hhjjbjs 5c.-; uuiL WOOL No markst.v HENS SI to ,81.25. lARGE FALL CHICKS 8 0 C to 90c. SMALL SPRlNfl CHIP.KS S5n t 50c. dull. , SSSr-Stea0 2 to 65. BUTTER 36c. POTAa-OES 34.00 bag. SWEET POTATOES $1 to $1.2. CABBAGE 32.00 to 38.00 cwt. - APUaa $6.00 to 17.00 bbl. WILMINGTON PEANUT MARKET (Reported by J. S. Funchess & Co.) White Spanish, farmers' stock, new crop. DTimes. ner bushel. 20 DOunds. $1.10. iNorth Carolina, iarmers' stock,' new crop, primes, per bushel, pounds, 90c. Virginia Runners, farmers stock. new crefp. primes, per bushel. 22 pounds, 88c Virginia JQmbos, farniers' stock, new crop, primes, per bushel. 22 pounds. S1.00. PETERSBURG PEANUT 1XARKET , (Reported by Rodgers, Flnmmer and Compaay, Inc.) Span'sh (farmers' stock), market weak, 95c per bushel. Virginias (farmers' stock), market Quiet: Fancy-Jumbo 6o to 7c per b.; extra nrime. 5c Der lb.: nrime. 8c to 4c per lb.: shelling stock, 3c to 3c per lb. NO NAVAL STORES MARKET JACKSONVILLE. Fla.. Dec. 31. No naval stores market today; holiday. TEN MACHINISTS RETURN TO WORK IN NEW BERN PLANT (Special to The Star) NEW BERN. Dec. 31. E. L. Willis, manager of the New Bern Iron Works and Supply company, says that ten of the striking men in the foundry , and machine department of his concern have returned to work on a basis of 70 cents, an hour. He said that when they were paid off last week, they received 69 cents and refused to work ithis week for this amount. Several men have left tow'n perman ently, wniiel otners are mtenmng to re-, turn, and two men have obtained work at another shop In this city. With next Monday, Mrl Willis said, he expects a fair number to be on the job. The amount of ! work to be done is still small but seems to be picking up, along with business in other lines in New Bern. KINSTON BAPTISTS EXTEND A CALL TO REV. L. M'B. WHITE ." (Special to The Star) KINSTON,. Dec. 31. Rev. Lee Mc "Bride White, of Chester, S. C, has been extended a call to the pastorate of the First Baptist church here. He was heard in sermons here several weeks ago and made a favorable impression upon the congregation. Mr. White is a young minister, as was nis preaecessor, jttev. marsnait Craig, who accepted an important charge at Petersburg, Va. If Mr. White accepts he will come to one of the lead ing Baptist pulpits in Eastern Carolina. The congregation numbers hundreds and includes many influential members REV. GEO. W. LAY WILL CO TO NEW WORK AT CHARLESTON (Special The Star) ' NEW BERN, Dec. 31. Rev.George W. Lay. .rector of St. Paul's church, Beaufort, and former rector of St Mary's school, Raleigh, has aecepte a call to Charleston, S. C. Dr. Lay will assume his new duties there Februatry 15 and will have charge of the Ma?ry Pinckney Seamen's home, including the Chapel of the Redeemer, besides three parish churches. These are St. James' church, James Island, St. Thomas and St. Dennis, Wando, and the church at Strawberry. His family will remain in 33ea.uf.ort until the local schools, close there. NEW BERN WAREHOUSES TO OPEN AGAIN IN JANUARY 11 usmess Today Merchant's Prob lems and Current Trade Conditions The Turn of the Yedr The year just closed will be recalled with no regrets by the vast majority oi Dusiness men. Tne last three, months were an especially trying period, be ing marked by a record breaking slump in the prices 6f basic commodities, by shrinking inventories, a buyers' strike. increasing Dusiness failures, growing unemployment, the reduction of manu facturing to a hand-to-mouth bajBis, and continued derangement of foreign ex change. With the turn of the year has come. a more hopeful feeling. -While it nas oeen a painful process " to go through with readjustments, the. im portant thing has been the fact that we are going through with it. and the manner in which the country has with stood tne financial strain has been a O .Y.f - r A n ' W, ... MMWM TT, . bvuxw vi QuwuiAKoiueitu ijr tii .pli cated reductions in January are expect ed to bring on a revival -.of -retail bify ing. and as supplies can be replenish. ed at -lower costs, mercantile trade should take on a more nearly normal tone than now appears to be the case. Not every one expects, the tide to turn with the calendar year, but there is a widespread belief that business will be well out of the slough of despond by spring.- - Opposition to Tax-Free Securities That there is already some reaction against granting, exemptions from tax ation as a means of encouraging move ments vsuposedly of public "benefit is indicated by a resolution recently in troduced in the house by Representa tive McFadden of- Pennsylvania, pro posing an amendment to the constitu tion of the United States td (prevent the issuance of any tax-exempt securities by the federal or state governments or any political subdivision thereof. While the prospects of tile enactment of this measure are not regarded as very promising, - the proposal has .already served tbjraljy awimber of congress men for & drive to. check the almost un limited issusVVOax-exempt securities. The McFadde nl-esplutlon also makes laxaDie the tJirle.jf ,. all public offi- ia, ieQeraiMimsattate. At pres- (igftfps dsisisjjray the fed- Subsidising Home Building The condemnation of tax exemptions aB a method of .granting subsidies or bounties to favored forms of industry, as set forth in the recent report of a special committee or the National Tax association, gains additional interest In that it follows so closely in the wake of the senate report on -housing. This report recommends the, exemption for a limited period of interest derived from real estate mortgages and the ex emption from the income tax of profits derived from home building, if these profits are to be reinvested in the con struction of other homes. The commit tee of the tax association dfees not deal with these specific proposals, as they were not before it when its report was' presented, .but the principles which It enunciates are -very applicable to the recommendations in the report, to the senate. One effect of present federal taxes has been to drive a vast amount of money into tax-exempt securities. If the recommendations embodied in the senate report were adopted additional avenues of escape would be provided for the wealthy taxpayer, and the pur pose of progressive rates of income taxation would be largely defeated. If one group can thus escape Its burdens, other and less fortunate groups . will have to shoulder them. Those who escaped would be the ones most able to pay. i stafem; itsral income -tasbg. Better Business Methods The business depression of the past iew months has brought some tempo Lrary chafiges in the methods of distrib uting goods. Manufacturers in numer oils instances have taken to retailing in order to dispose of their surplus stocks. . In some cases the goods thus off .ered, have een returned 'by retailers yao, refused to accept shipments after prices began to drop. In Brooklyn a manufacturer has been retailing felt nats which bore the names of baber dashers in many distant cities on the sweatbands. The slowing down of bus iness and the transition from a sellers' to a buyers' market have also added somewhat to the strategic position of chain stores. Independent establish ments are viewing with growing con cern the development of this type of Institution, and are proposing joint ef forts to meet ts competition. In so far as these plans involve the adoption of more economical methods, such as co-operative buying and shipping, the general public will be greatly benefited There are proposals, however, which amount virtually to the, boycotting, of manufacturers, wholesalers and job bers who deal with chain stores. Such Hethods are not conducive to efficiency in distribution Or to better service to consumers, and in tne long run are des tined to fail. The Independent retailer serves a useful purpose, and his dis appearance as a result of the competl tion of large centralized organizations would be unfortunate. His survival. however, depends on his ability to keep up with-the big fellow In efficiency and not In his trying to prevent needed im provements in retailing. The I nvestorl His Present .Opportunities and Problems NEW BERN. Dec. 31. with the an nouncement .that the local tobacco warehouses woiWd open again here January 11 the officials of the tobacco board of trade anticipate higher prices than prevailed at the closing on De cember 17, .according to information received from looal tobacconists here J today; A good many thousand pounds of the golden weed remains yet to be sold. . '. v .' . V . . . . . .., U. S, WEATHER BUREAU . Wilmington, Jan. V 1921. Meteorological data for the 24 hours ending at 8. p. m. : yesterday. Humidity. Record .-'"-,-- Dry ' Wet , Relative . v bulb bulb, humidity ' -x ' - . - . temp. temp, percent :00 a. m....." - 38 35s,. 72 p. m. ........ 6 as n. m., . i . .... 53 ' 46 60 1" 12:12 3:00 Temperature-. Maximum -63; mini mum 88; mean 80. ' Rainfall for the day .0; since first of month, to date.. 4. 26. v '.. Sun rises 7:18; sun sets 5:14. .1 The Tide Kigh water. Low water Wilmington; Masonboro . ftouUmort A.M. P.M. 2:28 3:50 0:25 12:26 ;00. 1221 A.M- P.M. 9;40 lu :10 6t27 6:50 6:22 6:15 Considering Earning Power f vGetting "tbo far from the rails' In selecting a railroad security is not a prudent thing for the investor to do as a general .-proposition, but there are cases in whifch a debenture, supported by no lien on physical property or other collateral, 'is a safe investment. In other cases a second mortgage on mileage and terminals is as sound as many "first mortgages. All this harks back to one of the factors which the investor must bear in mind when ap plying the tests to a railway security. That factor Is the earning power of the company issuing the . security. The worth of railroad property, like that of any producing property, is ' estimated on the basis of its earning power. Re placement value Is unimportant as a guide if the road cannot make the property pay its way or has no pros pect of doing so. The unfortunately situated road is, therefore, a poor back ground for investment. Its first mort gage bonds may, be worth less than the plain debentures Of well situated' and prosperous carriers. It is earning pow er that enables a railroad or' any other corporation to. meet its obligations, and in turn, a record forrompt payment of obligations goes far to create a'good credit rating. Atchison Adjustment 4 ' The Atchison, Topeka and Santa; Fe railway's past and present earning power and its excellent credit etana ing are factors which give the adjust ment mortgage 4 per cent bonds a po sition so close to high grade first mort gage bonds. The current return on this issue is 5.84 per cent at the present market price of 68.50, and, the matur ity being in 1995, the yield Is only slightly larger. Interest is payable only If earned, but payments were made cumulative in 1900. Net Income was 4.22 times the interest requirement?! for all funded debt last year and in the period 1911-1918 it was 2.44 to 424 times those requirements. Including the $382,000 held in the treasury, 351. 728,000 of these bonds have been is sued. The company may issue $20,000, 000 additional before the loan is closed. Securitv is a second direct and collat eral lifn on 6.611 miles of road covet d y-v $150,634,500 general mortgage 4s and a fthird lien on v 1,908 additional) miles dubject also to the general mort- gage '4s aid to $33,849,000 of liens prior to-the general 4s. The adjustment 4s, sold as low as 62 last May and as nign; as 73.50 in October, in tne pwioo nn 1919 the price rangeiwas 63 to 96. Brooklyn EdlsonGeueml - The Brooklyn Edison company gen eral mortgage, consisting now of four different series, offers a choice of ma-j turities and coupon rateS. They are 1 parts of an authorized mortgage off $100,000,000 created two years ago to provide funds from time to jtime to, de fray not more than. 80 per Jcent pf the cost of Improvements and extensions, the acquisition of property of - other mnanipa. an4for refunding underly ing bonds. At present there are. 115.-1 500;000 general mortgage bonds out-), standing. Coupon rates are 5, 6, and . 7 per cent. I.t , is provided that no fur- ther bonds may be issuedV unless net j earnings have been at least twice be interest charges on the total funded debt, including the issue under con-i templation.t : Series A is best suited to the investor desiring ji long-term se- eurity. Its maturity date is furthest away, 1949, and the rate of 5 per cent, compared with 7 per cerftfor series. C n4 D slves the company less Incentive for redeeming U when money becomes cheaper later, on. l -, .. -. . . i Yields Ie Four Series fi.iis A 1b sAlliner at 75.50 for a cur . i . n B n. A.nt anji 9 1 C 1 ' - SUBURBAN SCHEDULE ! TIDE WATER POWER COMPANT I Winter Park, Seagate, Wrlghtsvllle, Wrlghtsville Beach and - j , Iateraemlat Plnta . - . -a-; Effective Thursday.vOctober 7, 1920. S h in ' '- Lea-va Wlliu in gton Fr Wrlghtsvllle Leave Wilmincton For Beaeh A. A. P. P. P. :50 7:20 g 8:80 8:30 X 9:3p 10:0 11:30 1:05 2:00 2:30 8:00 ' P. 3:30 P. t 4:00 4:30 5:09 6:30 5 6:10 ! 6:40 17:15 ! 8:15 9:15 '10:15 lf:l& P. P. P. P. P. P. P. P. P. P. P. M. M. M. M. M. M. M. M. M. M U. M. M. M. M. M. M. M. M..v M. M. M. :50 A. M. 7:20 A. M. 8:30 t 9:30 10100 11:30 1:05 2:00 2:30 3:00 2:30 . f 4:00 4:301 5:00; 6:30 i. , 6:10? V 6:40? ! 7:15 ?8:15 t :15 A. M. A. M. A. M. A. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. P. M. 11:15 P. M. Leave Beach Fer Wilmington; 6:00 A. M 116:35 A. M. 17:05 A. M. 7:35 A. M. 9:15 A. M. 10:15 A. M. 10:45 A. M. 12:15 P. M. 1:45 P. M. 1:45 P. M. 8:15 P. M. . 3:46 P. M. 4:15 P. M. t 4:45 P. M. 5:15 P. M. 6:45 P. M. 6:25 P. M. 6:55 P. M. 7:25 P. M, 7:65 V. M. 8:30 P. M. 9:30 P. M. " V-leav Wrlshtavllle - ' For -v WBmlnjrtesi i:lfl A, L ro:0 A. M. 7:30 A. M. V 7:80 A. M. 8 8:30 A. M. j 8;26 .A. M. ' J (10:36 A. M. 10:86-A. M. .12:25 P. M. 1:65 P. M., 2:65 P. M. 3:2S P. M. s 3:66 -P. ,M. t 4:25 P. M. ; ; t 4:55 P. M. 6:25' P. M- . 6:65 P. M. 6:35 P. M. ' T:0l P. M. 7:35 P. M. 8:06 P. M; C:46 P- M. 8:46 P. M. 10:45 P. M. ; 11:45 P. M. v This car connects at Wrightsvllle on special request to transpor tation office. Phone No. 2701. - " - , 1 r :Thls car will go through to beaeh on special request ttf transporta tion office. . S Dally except Sunday. .! , f Saturdays and Sundays only. (Sundays onljs. . Freight Sehednle Daily Except Sunday, ' Leave Ninth and Orange streets 3:00 P. M. Freight Depot open daily except Sundays from 1:00 to 3:00 P. M. STATE SECURITIES COMPANY , , INVESTMENT BANKERS STOCKS : BdNDS V INVESTMENT SECURITIES R. L. HENLEY, President ' 903 Murchison Bank Building Telephone 290 STOCKS and BONDS COTTON, GRAIN AND PROVISIONS H. G. Latimer, Jr. Member New Orleans Cotton Exchang Direct private wires to New Orleans, New. York, Chicago and all principal points. Orders solicited; for future delivery in Cotton. Grain, Provisions, Cottonseed Oil, Coffee and Sugar. ; Securities bought and sold for dash, or carried on conservative margin. m I. Correspondent. H. and B. Beer. 401 SOUTHER! BTCLDIXG New Orleans,. La. PRONE 1X9 . of 7 per cent if held to maturity. Se ries D matures in 1940 and bears coupon rate of 7 per cent. Its price of 97 gives a current return -of 7.19 per cent, and a yield of 7.25 to maturity. It is callable at 107.50 up to 1930, and at 105 in the last ten years of the term Series B and C are the shorter term issues, both maturing in 1930. Series B, a 6 per cent bond, is selling around 87 for a current return of 7 and a yield of 8 per cent If held to maturity. Se ries C has a. 7 per cent coupon return of 7.44 per cent and a yield of 7.95. The company's total funded debt is now 29,096,000. Plant and property were carried at 842,819.000 on. December 31, 1919. Fixed charges, including interest on the funded debt were earned 2.17 times in 1919, and in the period; 1910 1917 they were earned 2.05 to 2.81 times. y ' ' ' -t- NOTHING IS KNOWN IN DUBLIN ABOUT DE VAUERA'S, ARRIVAL. DUBLIN. Dec. 31. (By Associated Press) Inquiry tonight elicited tho statement that neither the Dublin castle officials nor the newspapers of Dublin know anything concerning he arrival of Eamonn D Vaiera. The American steamer Pontia ar rived at the north wall quay In the River Liffey today and was boarded by armed soldiers. A machine gun was placed on board and armored cars along the quay trained their guns on the sWp, which was thoroughly search ed. According to reports, nobodr who wasbeing sought was found Jon board. -mil" RtttiMAliplilkall HAM BERM COUGH ton the ftcucr or imom Cods WHOOPIHO COUCH, HOARtCNCJS, BRONCHITIS. TMf ftCMCOV COHTAWS NO NARCOTIC . Msoofantariaf Phrtnscittl , Das Mataa. law. V. S. A. 3AAoIAc4o4Mfl $price. mnmr-nvE cents? What Do Ton Think Of This? AN IVEE-JOHNSON BICYCLE FOR CHRISTMAS! ' QUEEN CITY CYCLE CO. 209 Market Street -TELEPHONE 883 Attention, Everybody! We have marked every item down to present value, regard less of what they cost. An in quiry will bring our quotations. D. L. GORE COMPANY Wilmington, N. C. Your Boy Wants A CROWN MOTO-BIKE Cash or Weekly Payments Wikmgton j Cycle Co. 215 Market Street - Phone 526 STARKEY & GOLDBERG STILL LEAD TAB WAT . BACK TO 1914 PRICES FOR SALE! ;,Yr i - i. ' Irish potatoes, onions, cabbage, lima beans (the kind that cook), navy j beans, blackeye j peas, dried peaches, 'apples, prunes, Lily Brand full , cream cheese, - Franklin and Cortes cigars, Wascot and RleCs Ginger Ale. j Bear Projtuce and Merchan dise Company - Wholesale Only) j Cor. Watt aad Grace Streets Phone 452433 - Coal : Cement : Wood Order gelfoiten . J Phone ITS - f BECKER COAL AND BUILDERS' STJPPLY COBIPAJTY ' . Siren as CannheU 8treetsr WILMINGTON MATTRESS AND UPHOLSTERING CO. FOURTH AND WRIGHT STS. ' Lpholsterieg and Repairing ' Furniture Packed, aad Crated PHONE 1S51-L3 r FIRE SAIiE ItiU Geisg Oa NEW YORK BARGAIN HOUSE 22 Market Street j W. E. & J. H. TAYLOR FAMILY GROCERIES AND COUN TRY PRODUCE Fruits, Candle, Cigar aad Tobacco Chickens, Egar. Meat. . etc V North Carolina Meat a . Specialty 19 Castle St. ' Phone 1910 Abdominal Belts Special to Order. TheRexall tStore TO Momm n rai I ! ! CITT ELECTBIC C0 : 20 Prlncesus St. r , Pheaa (903. APPLIANCES s MAZDA. LAMPS. WIRING TJTPlS,-,h;--'- h, UNION METAL WORKS "A Tin aaa sheet net I work -v- . 1 . ' - t i- - '' : ! Radlatera and Fender leaalred. e Hot Air Faxaaeea la italleoC-' 14 h. SeconU St. i ' Tele fctne 2103 ... , i - - .'. ava Cewu Froaa j - DIX-E BREAD .-- They 'Are- Valnable . . , ' i - Atlantic Baldnar Co. 1 i f-t : .' .-...3-: mm mm i ! f - V. i I . '. r , ft - . . - . ---it.'-; i A"Ji;: . - . 1" .' W n-ll-i:.!..- 1 w .-. :;;Srtei:" ...v.s. v .. .. . K- 1- :v fix mini t if -'- it - : z'r.mii . ' .. ... ' t 'ft T . KK1 '4 !' ... J -. 7 " mm 2 P mm f i i ; .1 - f ; '!".
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 1, 1921, edition 1
11
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