Newspapers / Greensboro Daily News (Greensboro, … / Nov. 3, 1922, edition 1 / Page 19
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GREENSBORO DAILY NEWS,N FRIDAY, NOVEMBER . 3. 1922 Stock Market Shows Decided Reversal and Goes Stronger Upward Movement Which Started Tuesday Did Not Reach Its Full Force Until Market Opened Thursday Indica- tlons Point to a Continued Advance.' (By Uwse Wilt to Ballr Nw.l , fCmrUM. Mil. rulvMXat faOU lJ New York, Nov. 2. Today's stock market wnicn was a not exceptionally active affair, rhofcred distinct reversal In form compared with sessions earlier In the wsok. Signs' t a aubatantlal recovery liad mad their appearance on Tuesday and were more in evidence yester day. It was not until today, how aver, that the buying movement be came evident, both for long; and short aocoupts. . While sains were general the widest rang of activity was found In th- specialties, with the 'major advances scored In such issues 'as National Lead, May Department Stores, Tobacco Products; American Waterworks, Austin Nichols. Endlcott Johnapn, and Issues' of this class. Some significance may be attached to the selection of those Issues as market leaders, 'wh-n the forces be hind, the rise era taken Into consid eration, Iny th- oas of National .Lead, report wer current of a pos sible dlstrlbtion of the profits of the United States Cartridge company to National Lead stockhold ers; In May Department Stores, re ports Indlcat the possibility- of an 'increased dividend, and so forth, ' thmnnh the list. The action of the market In reeponse to thee report lahowed plainly tnat me iraoing ! 'ment Jias recovered from th nerv. nJa occasioned by the recent re' action, and 1 again more lncllnedto follow the rumor than to wait lor the facta Taken as a whole, th market gave ample evidence that th corrective movement which has been under way ino)th middle of October ha more 2 I than run Its eours. Briefly, th market had advanced too rapidly ua- aer tne stimulus 01 hasty buying on stock dividend rumors, thus oreatlng n unhealthy technical position wnicn had to be corrected some tim. In stead of carrying on and leaving this over-xtnded long position as an "air pooket" In the market; stocks tumbled of their own. weight, and as usual the reaction extended a bit too far. "Whether th recovery which set in late yesterday afternoon and con tinued through today marks th be ginning of a secondary rise, iOr is merely a readjustment due to the strengthened technloal position, 1 a matter which must develop Itself later. On th other hand, Industrial and commercial conditions favor th long Sid of th market despite the pro cess of discounting which ha been going on all summer, On the other hand, there are (till some thlrd-quar-te report to com which will prob ably be far from favorable, while th drain upon th money market for commercial need over th holiday season is a fore which must be rec ognised. , MONITOR'! WALL STREET GOSSIP. (Br Uewd Win to Dill; Newi.) I'Coprrifht, 1921, br FhUdilPBU rublfe Ltd.) New Tork, ' Nov. - I. Th sudden death of Thomas DeWttt Cuyer pro vided th main toplo of discussion In railway and banking circles her to day. In addition to hi duties as chairman of th Association of Rail way Executives and vice president of tne rnnyivani rauroaa sysism, Mr. Cuyler was actively Interested In about 40 banks and corporations. ACTUAL COTTON SALES Reported by U. S. Bureau of Agricultural Economics, Cotton Quotation Service, 21 East Fourth Street. . ' ; . Charlotte, North Carolina. , MOTS: Th following prices are f rora '.report f actual sal received (root dealers by thli office and are not stlmat4 prices., Prices are on th bails ot th official cotton standards of th United 8tats, unless expressly otherwise .stated. . ' . NORTH CAROLINA, Oct H-Jl. plac Cat Grad - ' BUpl Prlo Charlotte 1 Good Ordinary .. 1 -lrush ,. 11.71 II 'Strict Middling 1-lnch I0.J0 17 Strict Good Ordinary ,. -inch 10.71 17 Strict Middling ......... ...1A-Inch 11,00 . 11 Low Middling ,w ...... -inch ' 11.15 18 Strict Middling 114-Inch 11.00 ' . , 19' Strict'Low Middling ...... H-inoh . 12.11 i . 18 - Stfict Middling ........ 1A-Inch; llfl . 29- Middling ... Ji-lBen . ll.M l- Strict Middling v...;... ........... ft-lneh 11.11 It : Middling ........ . 1 ft -Inch 11.00 51 .Middling , -...'..lH-Inch 10.00 11 Oood Middling 7, -lnch 14.00 11 - Middling '...'. lft-lnch 10.00 v. n Strict Low .Middling lM-lnoh 100 ....11) strict Low Middling -lnoh 21.00 20 Middling , -lnch 18.71 A 21 itrlct Middling -lnch 11.11 .'. ,.:i .' Good Middling -lnoh 14.00 II MlddUt) ti. -lneb, mi 11V Strict Middling '.. -lnch 11.0 .....17 " Strict Low Middling ........ -lnch 11.(0 11 ' Btrlc Middling -lnch - 11.11 , 19 . Strict Middling '...-i lK-lnch 17.00 20 Strict Middling ..1 A -Inch 81.50 41 Strict Middling ....... ........... .I1. inch , ll.M ..H Strict Middling .'. . -lnch ll.SI 11 ...Good Middling i -lnoh 11.00 20 Strict Middling J,,.. . ....114-lnoh tf.ll 21 Oood Middling tt-tnah 11.71 Wilmington 11 Middling . -lneh ' 11.11 BOUTH CAKOL1WA OSt. If 'II. Middling .... v. Lov Middling ................. Strict Low Middling ........... Middling ............. V. Strict Middling . . , Low Middling ' -.. Strict Low. Middling' Middling',. ........ Strict Middling ..... Strict; Low Middling Faysttevllle . Marshvllle.. Morven..... Wadesboro. Wake' forestr Dillon..... ' Hartsvllle ..19 '. ...10 10 17 i : 17 i 17 II 1L. .- V . 19 V : . . 19- . 10 i."' ' . 51 11 Bennettsvlll 11 . 11 " It j, : 19 .'. .V ' If .- f-.. 20 to - 10' " " - II I 11 . ' " " arnvill....'rr..l7 ; ' 11 : Greenwood 11 , 17 11 19 . . .... . to ... -lnoh ' ...IK -Inch ...1-lnch ...IK -inch ...lit -Inch ...1ft -inch ...lft-lnch ...lft -Inch ,. .lft-inoh ...lK-lnoh ...lH-lnoh ,'..114-inoh .......... lk-lnoh ft -inch 71 ft -Inch - -lnch i.. .lft-lnch . -lnoh ..........lft-lnch - .......... -lnoh . .lft-lnch . -lnch Klngstrt . Manning. . North....... Marlon Pageland... Jeff arson... :..i 17 II 19 10 11 ...11 SO - II ...so .'All ...11 . II Low. Middling Middling.'' ............ Strict Middling ,.. Middling .. ........ Strict Middling . Low Middling Low Middling ...... Strict Low- Middling Strict Low Middling ......... Middling ..;..........., Middling ; L ;, it .i ......... . Strict Middling Strict Middling ., 4. .......... Low Middling Strict Low Middling Middling , 1 Strict Middling Strict Middling, yUW tinged Strict Low Middling Middling .........v. , Strict Middling . . . . . . . . Strict Middling, yellow tinged Middling, yellow tinged 1 Strict Good Ordinary ......i Low Middling 1 strict-Low Middling 1 4-.....i 1 1 Strict Good ordinary '..i, ., Low Middling ........... Strict Low Middling ..... Middling ...Vi.'.r........ Strict Middling Good Middling Strict Low Middling Low Mlddjtng ..." Middling . Middling Mlddllnr Strict Middling , .... Strict Middling v Strict Middling .....:.., 11 Middling 11 V Strict MNdllng .lft-lnch .lKrlnch .1H-Inqh .1H-Inch .114-lnoh . -lnch . -lnoh . -inch : . -lnoh .1 -Inch .1 .Inch .1 -Inch .1 -Inch Inch Inoh Inch -lnch -lnoh -lnch -lnch -lnch -lnoh -lnch -lnch .. -lnch .. -lnch . . -lnch .--..lft-lnch ..lH-lnch ..lli-lnch - till 15.00 17.00 11.00 10.00 10.00 11.00 19.00 11.00 19.00 17.00 10.00 11.00 11.00 10.09 110 19.60 11.71 17.10 11.15. tu6 21.M i,oo 10.10 11.00 19.00 10.00 12.00 21 SO IM0 11.10 ,11.11 11.00 KMI tl.lt .11.00 11.00 11.10 10.10 11.10 11.91 11.11 11.11 11.40 11.11 11.11 ll.M '11.09 ll.li 11.00 11.00 11.00 Bankrsand railway executives were! unanimous In their expressions of rs- grat. Alfred V. Thorn, oounsel and vhalrman of the association, will a- sum Mr. uuyier duties in that or-, ganlsatlon automatically. His suc cessor probably will be selected by tho standing committee or the tjioc. utlvo oommltt with th nomination ratified at agnral meeting of th member joads. American Can continues as on of th features of the Industrial list on th general assumption that preserit oondltlons warrant some sort of a payment to common stockholders. Current business is very good, and In view of th fact that common stock holders ' hav never received any benefit from the company, It Is re- fiarded as likely that a dividend of at east 10 per share will be declared on tni stocK. Bine tne iormation ot this company, earnings over and abov preferred requirements hav gone back Into the company. . Director of Adams Express met but took no action on the proposal to resume dividends. This proposition was discussed, but was put off until the December meeting. Reports received from the rail car riers of the country show that th de mand for freight cara over and above the available currant aupply amount ed to 106.149 car on October 21. This was an increase ot 10,040 cars over In total on October It. The demand on October za ror box cars In excess of the supply amounted to 11,734, an increase of 4,623 over th total on Oc tober It. The demand for coal car totaled 46,576, which was an In crease of 1,591 within the same pe riod. A shortage ot 21,004 was re- ?ortd tor stock cars, an Increase of ,061 sine October It, while there was an Increase of 1,717 In th short age of refrigerator cars, which brought the total to 9,141. In explanation of th current mar ket strength of May Department store, attention 1 being oalled to the exceptionally good position of the company and Its attractive prospects. .There is considerable dlsousslort of th possibilities of an Increase in the regular dividend or possibly ot a to per cent stock dividend. Manhattan Shirty direotors meet for dividend action on November It. Ac cording to market gossip, the busi ness of this company Justifies expec tations of an increase in the cash dis bursement or some addition to th 10 per cent stock dividend. National Load! spurted l',4 points today and reports were afloat that profits of th United States CartrldK company may aoon be distributed to National Lead atockholdars. Estimate of th cartridge oompany's profits runs up to about 15.000.000, while the regular business of the National Lead company Is also favorable. one or the features of the rallv In stocks generally has been the revival of rumors - regarding possible In creases In stock dividend. It was no tlceabrei that during th recent slump tnese reports aroppea out of signt. The latest addition to this group la Moon Motors, which Is said' to be planning for an extra dividend of 25 per cent per share at th December board meeting, this to be in addition to the regular dividend of It ser cent per quarter. Nash Motor earned 11. 751. 90S dur ing th September quarter, this fig ure showing a substantial recession from the preceding t quarter. How ever, earnings for the first nine months of 15.023. 551 compare with a total ot but 12,276.078 for the entire year 1921. The favorable showing made so far this year Is best under stood when It . Is considered that even the' 1921 figures showed earnings ot tt qn th preferred and 135.48 per share on Its common. At the present time Nash cammon Is selling at from 475 to 415 per share. MONITOR. C. B. HJVANH CHICAGO LETTER. IB, UwM Wire te Daily kal (Coprrishl, 1421, bvPtiu.cltlptil. Public Ixdisr.) -Chicago, Nov. 2. Th declaration of a stock dividend or 10 per share (par 33 1:3) by the. American Steel Foundries company of this city. bringing its outstanding stock nearly up to i20.uou.uou autnoriiea, is no surprise to persona familiar with. the oondltlons of that property which is earning handsomely, and is One mora illustration of what Is going on among Chicago corporations, which lacking the spectacular character of the Standard Oils, .are still treating thefr stockholders handsomely. Mor evldenc of th prosperity of tne industrial concerns win oe made public before long. There Is pretty much a constant expectation by the holders of Kellogg Swltboard and supply company s stock of a large extra in some form, but antici pating It is Ilka feeling the touch of Christmas pudding on th gustatory nerves on the 4th of July. But these things com along from time to time, and about th first of next year Kellogg will probably do something of that sort If th ultra-oenservatlve people In the management convince themselves that no moral or, eco nomic sin would be Involved in such a distribution, Evidently th day of sudden gains to Amer loans has no gene by even though w-hv matured to an ap- NEW YORri CURB MARKET Sale. V , Clo. New York, Nov. 1. Transaction on the New York ourb market today wer as follows; j ' Iadurlals. Acme Coal . . . ., .It Acme Packing ........... .40 Amalgamated Leather ,. It Amer. Hawaiian S. 8. ,. 10 Amer. L. and T ..141 Atlantic Fruit Co. .v..... 1 Brit. Amer. Tobac. coup 19 2000 2000 1200 106 ft 100 100 too too 100 760 400 100 1100 100O 1300 100 . 100 1100 100 1236 900 ' 100 4O0 too too 400 300 200 700 100 1000 600 71 200 75 700 20 100 300 300 2800 300 "2300 2300 100 1000 8000 100 100 200 100 300 1600 800 600 1700 1500 1000 2200 100 20 110 1031 60 146 20 10 186 11900 100 145 40 900 1000 800 1000 4000 2100 1000 220 100 200 100 1000 1000 100 14000 600 100 3600 100 7700 1000 52300 1100 1000 1000 400 1900 420 I00O 100 2000 600 800 1000 2000 11000 - 100 6000 3000 11400 600 900 10000 f 1000 1 200 000 800 200 12300 8000 2100 1700 100 Salts Brooklyn City H. Buddy Buds Car Light Cent. Teresa Sugar, Co. Chloago Nipple ....... Cleveland Auto .-. . . . . Columbia Emerald ... Conley Tin Foil 11 Cont Motors. 10 Cuban Dom. Sugar - .-t Daniels Motor ' lO'i Durant Motors 41 Gardner Motor 9 Gillette Safety Rasor, ...155 Glen Alden Coal ........ tl Goodyear Tire .......... 9 Goodyear Tire pr. '. 25 Great West. Sugar 71 Hayes Wheel .'. 17 Kuppenheimer Co. pr. ... 91 Lehigh Power Be. 19 Libby, McNeill, new I Macy and Co. w. L. . . . 19 Maey and Conr. "-w. L..110 Manhattan Trxtrafar 25 Mesabi Iron , ; 10 Nv Y. Tel. pr. w. I 110 National Leather IK New Jersey Zlno Ill Packard Motor 17 Packard Motor Jr 12 Peerless Motors GO Perfection Tire , .. 1 Philip Morris JH Phima Radio 1U Pyrene Mfg. 10 Radio Corp. com . .-. 4 Radio Corp. pr. .?. 1 Reo Motor Truck ,1 Repettl Candy ,. .. 1 South. Coal and Iron ... .43 Sluts Motor 1714 Technicolor, Inc. 26 Tenn. El. Pow It Tenn. By. L. and P 114 Tobac. Prod. Exp Itt li. 9. L. and H lft United Profit Shar., new. I United Retail Candy ... 7 Wayne Coal 2 West End Chem Wlnther Motor A. 10 Standard Oil. . Anglo American OU 10 Atlantic Lobos 7 400 1000 11000 7000 1000 1000 too 1400 2000 100 640O 1300 800 tooo 12000 1000 9000 4000 1000 200 too - too , 9000 00 100 6000 17000 4000 1000 00 1000 1000 1000 700 600 7000 160f 2000 ' 1000 1000 800 4000 1400 800 8600 000 200 1000 1000 1401 9200 9600 1000 1000 tooo 700 'Mining. Mln. proxlmatlon of conditions In Europ oexore tne war. xne American Busi ness man and Investor has from th Srst been like a fisherman into whoso oat a big fish Jumps without any effort on his part. Rlohes her are Incidental aa wall as th product of long procesaes of labor ana intelligent actian. it seem necessary only for th man to plac himself In conditions most liabi to expos mm to such xpen ences. P4n tree do not commonly bear Dlneasnlea. but sometimes beau tiful fruit will drop Into th basket of th American from quarter least expected to show nun suon a cour tsy. ' With Europ It I difficult. A coun try in that part of th world accumu lau a surplus by taking somebody els' property, and, while Europe is In th opinion of many good au thorities re'rograding, we are get ting ahead f fast ss It Is safe to go. a to general business It will be noted that th two big mall order, houses of this city (cored gains during October, largely offsetting losses In some previous months and for the whole year, thus far Sears- Roebuck and company has XDrl nod decline In sales to. th amount of only 1.44 per ont. Th opinion of th publlo a to the Issue this week of II.OpO.-OOO preferred stock of th Fair, .is shown by price of 108, and that department store means not specialties, not iuqk of anv kind, but (he wide sreneral demand for merchandise by people ot ordinary means, Th huge plans of th Yellow Cab company and th Yellow Cab Manufacturing company Hy-Power The Niune of a Very Dependable Timer For Ford Cars' and Trucks The timer of a Ford Is ona of the tnost important parts of the power and Igni tion systems, therefore, for getting the best possible service out of a Ford engine, it is essential that the timer is. right. . , ' , Many Ford owners are getting mors power, easier starting and better igni tion by. installing .Hy-Power. Timers, and the service this Timer is giving users, Jeads us to recommend ft to other Ford drivers. . . . ' Hy-Power Timers are quickly and easily installed and they ire reasonably priced. Drop in the "Motorist's Department Store" and let.us tell you more about Hy-Power. f - ' s - v, ;- GREENSBORO Mo tor Gar Company "The Motorists Department Stort?' 315. W. Market ' : Phone 2500 viiytTryfAf f Vsy ' NOTyiTcasl Cont Oil 147 Galena Signal Oil 41 14 Imperial Oil; Canada ...119 Illinois Pipe Lin 171 Ohio Oil ? 199 Prairie, Oil and Gas ....041 Prairie Pipe Lin 271 South Penn Oil- Ill Standard -Oil of Ind. ...120 Stand. Oil ot Ky. nw. . .101 Stand. Oil of N. 663 Vacuum Oil .itO Independent -Oil. Alcan Oil Allied Oil Arkansas Nat Oas Big Indian Oil and Oas Boon Oil Boston Wyoming .t . , , Carlb Syndloat Cities Service ........ Cities Service B otfa ., Cities Service pr Cnt, Ref. , Creole Syndloat , Knglneers Pet. Equity Pet pr Federal Oil Fensland Oil Gllllland Oil Glenrock Oil Granada Oil Gulf Oil w. I ". Hudson Oil International Pet .... Keystone 'Ranger Lance Creek Livingston Oil Livingston Pet ....... Lyons ret. Alaska. Brit. Col. Metals Belcher Ext Boston eV Montana Dev. Boston & Montana Con. Canada Copper Candelarla Mining ..... Canarlo Consolidated Cop. Cork Province Cortes Silver Dean Cons. Dolores Heparans . . . . Drydcn Gold El Salvador Eureka Croesus Fortuna Goldfleld Deep Gold Develonment .... 3000 'Gold Zone Dlv. Mln... 2000 Hard 8hll Minlns Harmlll Divide, Mining Hecla Mining Henrietta Silver Hilltop Mln Indep. Lead Mines Jerome Verde Dlv Kerr Lake Knox Divide Lone Star McNamara Crescent . . Marsh Mines Cons.... Mason Valley National Tin Nevada Ohplr Nevada Silver Horn... New Dominion Nlnlsslng ... Ohio Copper Ray Hercules Mines Rex Consolidated . . . Silver Mines Am.... Silver Plok South American P V Spearhead Tech Hughes Tonopah Belmont .... Tohopah Divide Tonopah Extension . . Tonopah Mining Tuolumme Copper .... V. S. Continental Mines Unity Gold United Eastern West End Cons........ West End Ext Wllbert Mining Yerrlngton Tukon Gold Bonds. 'tt "Ctox IH .06 .09 ,7 .03 .14 itt -4 .20 Iw .03 .2 8 .01 .21 .07 .01 .11 .07 7 . .76 1A .22 2V, !. .04 .06 .07 . .09 ltt .21 .16 .04 1 I .46 $ .11 .071 4tt .01 .91 A .76 I,'. 2 A .46 .13 4- HI 174 .06 .03 . .08 .70 G.. Sales In 11,000. 23 19 I Magnolia Pet. . . . Ull ... Mammoth Maraoaibo Oil Marland Oil of Mex. Merritt Oil Mexloo Oil ' Midwest Texas Oil . Mountain roducr Mutual Oil New England Fuel . Noble Oil Ohio Ranger Omar Oil .......... Penn. Mex. Fuel PennokOil Rfed Banks Oil ....... Salt Creak Rait Crek Cons. Sapulpa Ref Seaboard Oil and Gas . Shells Union Oil w. t Slmms -Petroleum Southern Pet. and Ref. South States Oil Texon Oil and Land . Tidal Osaa-a 200(Turman Oil 1000 Wilcox Oil . l'A . .01 M ,. .10 . 1.00 . IS ,19b . 20 . 19 .. r . 1 . '.20 : "ft . 14 . ' 414 1 . z . 19 . .12 . 1444 . .92 . .01 . .10 . 1 . -.11 .147 ,. 41S .. 17 .. 4 :: !A :: n .. 79 . .22 .04 -1IH 11 11 II .41 12M. 14- 104 111 10 111 Allied Packer Is 79 Allied Packer la 17 Aluminum 7s, 1926 108 Aluminum 7s, . 1913 106 Amer. Gas A Eleo. 100 Amer. L. A T. Is w.w 100 mer. Rep. Coup. Is 91 Amer. Tel. Y Tel. Is. 1924.. 100 Amer. Tobacco 7s, 1929. .101 Anaconda Copper la...C.100H Anaconda Copper 7s, 1929.101 Anglo American Oil 7s.l03 Beaver oBard 9s 71 Bethlehem Stel If. 1921 106 Bethlehem Steel 7s, 1936... 102 Canadian Nat. Rwy. eq. 7s. 110 Canadian Nat. Rwy. 6s,... 98 Canadian Pacific Is 101- Charcoal Iron 8s 96 Cities Service 7s. C 96 Consolidated Textile Is 97 Copper Exp. Assn. Is, 1924.102 Copper Exp. Assn. Is, 1926.103 Deere C. 7s lot Detroit City Oas (s 100 Galena Signal Oil 7s 103 Grand Trunk ls 109 Gulf Oil 7s 101 Hood Rubber 7s 99 Interboro R. T. Is, 1923.. 98 Interboro R. T. Is. ctf 97 Kansas Gas at Elec. 9s.... 96 Kansas City P. A L. ts.... 91 Kennecott Conner 7s inii Laclede Gas 7s 101 Libby, McNeill A Libby 7s. 100 Magma Cop. 7s 9 Morris 4 Co. 7s 106 National Leather Is 101 N. T., N. H. A Hartford 7s. 83 Phil. El. Is ; 104 Phil. El. 6s 99 Phillips Pet 7s, w.w... .101 Public Sery. Corp. N. J. 78.102 Robert Galr 7s 98 -Sears Roebuck 7s, 1923 10114 Shawsheen 7s . . ; 103 Sheffield Farms ls 100 Solvay ft Ci Is 106 Southwest Bell Tele. 7s 102 Stand. Oil N. T. 7s, 1929.. 104 Stand. Oil N. Y. 7s. 1921.. 109 Stand. Oil N. Y. s 106 Sugar States Orient 7s 102 Su.n Oil 7s 10a Swift eV Co. 7s, 1981 102 Swift ft Co-. 6s 84.U Tlds,l Osage 7s 108 United Rys. Havana 7s..l04 Vacuum Oil 7s 107 Forelg Bonds. Argentine vs. 1923.... Canadian Steamship 7s King. Netherlands Is.. KlnK Serbs Croats 3s. Mexico Gov. Is.., Mexico Gov. 6s. '. Mexico Gov, 8s N. Y N. H.' Fr. 7s.... N. Y N. H. Fr. 4s Rep. Peru Is Russian ts Swiss 6s U. S. Mexico 4s ..100 . . 98 .. 96 :: K8 .. 16 ::!S5 .. 1114 ..101 .. 8614 are du to the disoovery that the same people are not afraid of the expenditure ot a few cents-or a few dollars to gt them quickly to their places ot destination. Thes conditions In th very heart ot out great Agricultural aria Indi cate that th lot of th farmer la not so bad . as has been thousht at times In th past few months. in standard oil company of New Jereey has gone out of Its way to apologM for It recent big 4tock dividend, or rather to. explain It, when there was reallywno occasion for apology or explanatwn so far as concern Intelligent pon. Xb best of th Standard OU comoanies make a great deal ot money be cause they hav a stapl business and. manage iv In such a way that they really cannot help making money. They choose not to pay out in current dlidends all their net Income, for tber are occasions when that Item has to be drawn 'on to meet an emergency or vn to pay bills . It results from their manage ment, however, that these accumu lations become big and, of course, they belong to th stockholders; henc stock dividends. Th com pany savings hav been reinvested in equipment and general expansion. Ther seems to be no alternative, but to refuse to make so much money, which could hardly be ex pected of human nature. No business organisation indulges in such a be nevolent policy. If that wer don, that la if price wer reduced the normal market level, others encased In th trad would have reason for complaint. . Th rush In this pity to buy Ameri can Bteel Foundries when It was learned that a stock dividend was coming Illustrates the abundance of capital and is a suggestion that the' sentiment in ravor of buying stocks has not been killed off by the recent deolln. C. B. EVANS. Pacific 4s, Seaboard Air Line mn.nil Mated la. "Soo" Is, "Katy" 4s, 0s and adjustment 6s anA rh.i. -V" Ohio sreneral 4Ua. wausiriai liens were not ss active as the rail or foreign issues, although advances of a point or more were scored by U. SJ3melting and, Refining --, - - -" ana ijnue cop peras. Traction issues were moder Jtsly strong, Brooklyn Rapid Transit climbing two points, North Ameri can Edison Is 1 and American Tele phone convertible Is, 1 The largest gain In U. S. govern ment list -was made by the first 4s, which Jumped 10 cents on 1100 Other advances ranged from two to 21 cents. 16?000 P" ralu M4.- The only offering of not today was an Issue of $1,190,000 Empire Oas and Electric company general and refund ing six per cent 16-year bonds, series A, offered at 91 to yield l.lo per cent. Resources and Liabilities of Federal Reserve Bank fund notes, GENERAL ADVANCE ON BOND MARKET Foreign Securities and Speculative Railroad Mortgages Lead fit th Rise), New Tbrk, Nov. 1 Foreign gov eminent . securities snd speculative railroad mortgages led a general ad vanoe In prloes In today's broad and active bond dealings on the New York stock exchansre. larri Kliw.fea l ot bond wer reported taken Out of inn msrsw oy oig nnanciai interests. , Strength of foreign bonds was rather, surprising, In view of th weakness ox rorrgn exchange. Bel- ian 7Ua and 8s advanced 9U. mnA two points, respeotlvely, wthl gaina oi on 10 1 war roorad by Bel gian la, Swiss la Japan 4s and French is. French municipal Issues Improved fractionally, Ther wer two notable exceptions to .the upward trend. Berne Is and Copenhagen ls which dropped two and on point reaoantlvalv. . . In the railroad list th biggest bulge took plac I' Cleveland. Cincin nati, Chicago and St. Lout I, which rose ift points. Erie convertible 4s, series A, moved up 1 and series R. two points. San Antonio and Arkan sas Pass is also rallied two point In th lone: list of mortnasrea. which i were puna up xrom on to 1H points were Baltimore ana Ohio con vertible 4s and gold 4s, St, Paul convertible 4s, New Tork Central consolidated 4a and debenture Is, Frisco adjustment Is. Income Is and I nearby delivery 9.10Q7.1I. Antimony TVn.,l T . . .. ......... .ut. ..omoined re source and liabilities of th 12 ted- ...v u.iiKs at tne close of business November 1, were reported tonight by ths federal reserve board In thousand of dollar as follows: Rsources: ",'1 " 0,d certificates. M8.711. Gold settlement fund, federal re serve board, 819.717. Total gold held by banks 116.446. 1 1SI &Wlth '!!d',r1 r,rv agents. Gold redemption fund 91.219. , Total gold reserves 1,078.249. llMOt' Und!r ,,ot silver, etc., Totai reserves 1,211,94b. Bills discounted: Secured by U. 8. govarnment ohli. gallons, 271.497. Other bills discounted. 111,267. Bills bouxht In onen market 280.. 68. Total bills on hand 841,422. U. S. bonds and notes. 191.096. ' U. 8. certificate of Indebtedness- One-year certificates (Pjttman act), a,unu. , Other certificates, 111,111. Municipal , warrants, 14. Total earning assets, 1,101,757 Tl-Kl. KMMi-a II n ft r sjpun p. mil..., 11,(1., Five per cent redemption against federal reserve bank 1,616. Uncollected Items, 167.179. All other resources, 16.161. . Totsl resources, 6,142,149. Liabilities Capital paid In 106.292. Surplus, 211.191. . Deposits: Government, 11,047, - Member bank, reserve account, 1, 147.189. Other deposits, 10,608. Total deposits, 1,914.241. Federal reserve notes In actual clr enlatlnn. 1.109.1U. , Federal reserve bank notes In cir culation, net liability. 15,671. Deferred availability Items, 631,140, All other liabilities, 26.261. Total liabilities. 1.142.199. Ratio ot total reserves to deposit and federal reserve, not liabilities combined 7. per cent 1 Metal Market. Nw York. Nov. 8. Copper steady electrolytic spot and nearby lift 0 1814: later 18 44 OU. Tin steady: pot and nearby M4ro08l.25; futures ss.se(tiio.s7. iron steaay; prices un ohanged; lead firm: spot 76 07.90. Zlno quiet: Beat St. Louis snot and c rippled 1 ? O Thijs Is Their Week by Virtue of Governor Alorrison's Proc lamation . . Register Them Let's get the name and address of r every crippled child of whatever race, under 16 years of age in , Gmilford Couinty In the hands of those who will help them to become normal or as nearly normal as surgery and scientific treat ment.willxmake them.' Do Youi now Then send in the name and. address and the names and address of the K One? parent to Mfs. Winnio JoliinisoBi Secretary of the Crippled Children's , Commission, Greensboro i 618 North Elm Street It is estimated that there are 100 crippled children in Guilford county. -Let's Register Them ' All! ' Phone 426 Free examination is pro vided for all children who need this attention. t Let's Register Them - All! W.F.Cole,rvi.D Chairman Orthopedic Clinic Pierce C. Rucker Treasurer Crippled Children's Commiuion V:-, ynur ia ve, new Avn s. union spot S.79 97.V. "7
Greensboro Daily News (Greensboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 3, 1922, edition 1
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