Newspapers / Greensboro Daily News (Greensboro, … / Dec. 5, 1922, edition 1 / Page 15
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GREENSBORO DAILY NEWS, TUESDAY, DECEMBER 5, 1922 15 il (Reactionary Tendency Shown During Day's Stock Tradings ! General Run of News Is Favorable and Reaction Is Not Thought to Be of a Permanent Character Report Indicates That Street Houses Are In Good Shape. MUTT AND JEFF That's What We Call a Snappy Reply (Br Masai Wit U trtllr Hm.t (CwrrltM. 1931.' br niiadtlpals rani New York, Dee. . 8omethln of a reactionary tendenoy developed in tha market today, with ailing en oouraced by th ballat tliat ths tech nieal position had bean weakened to a moderate extent by laet week'a eovsrlng, while the usual efforts were made to oapltallie apprehension aris ing ever reports from Lausanne re garding the aooord reached by the iOTKB una wihiiuii VM Bliw" question. Pressure took the form of profit-taking by some of the re cent buyers, with the floor element playing for a reaction and pursuing their hammering taottos on such Is sues as Harvester, famous Flayers and Endlcott-Johnson. Throughout the forenoon the list presented a fea tureless sagging appearance. Later In the session a . steadier tone de veloped, with friendly pools helping matters along by demonstrations In Btudebaker, California Petroleum, Pan-American Issues and some of the specialties. Strength - In Maxwell Motors A and B featured the automo bile sharesi Aside from the general feellnir that a raaotloh might be In order after the recovery of the last week, the news concerning the market or the business and Industrial situation was favorable. Several large equipment orders were reported while the figures on October production of steel Ingots showed a higher rate of pro duction than recent reports have ' suggested. In addition to this, the street wel Ycomed the announcement that the aSflmmlttee on business conduct of the 1 stock exchange Would no longer re quire reports on the amount of loans maintained by brokerage firms. This was accepted as evldenoe of the Im proved position of Wall street houses generally. Considered from the standpoint of its bearing on the broad aspeota of the world financial situation, the strength of sterling, which today reached a new high level at (4.60 bid, may be considered an outstand ing Incident The advance In iter ling has been a pussle to Wall street, ' and it is doubtful it any of the ex planations hitherto ventured have supplied the true occasion for the upward tendency. Primarily, it may be ascribed to lack of pressure from commercial source. There Is little actual business, and practically no sterling bills are being offered , for so-catled legitimate transactions. This may be regarded as somewhat remarkable In view of the tact that exports of cotton to Great Britain since Auguet 1, for example, are over 7(0,000 bales, compared with about (00,000 for the same period last year, ' In explanation of this apparent in consistency strength in sterling, with a coincident increase of 26 per eent In eotton Imports it may stated that these shipments are not being tnanoed according to traditional methods. Instead of the bills being sold In this market according to prior neage, It Is estimated that more than 60 per cent of British purchases t eotton have been financed through bank credits that have been estab llshed for the purpose, presumably against British credits for Insurance, freights and other Invisible balances. The same policy, according to re liable Information, has been followed in the purchase of grain and other commodtles bought by British lm porters. fudging from certain Indications, it would be premature to assume that sterling around stich levels has even approximated its peak price, Some very Interesting developments ars taking place, and there appears to be more or leas mystery associated with them. For - Instance, it' may have been noted that this country hss been shipping considerable gold to Canada recently. Already the move ment has attained substantial pro portions. There is good warrant for believing that the ultimate destina tion of this gold Is London, and that 'Its accumulation- there eventually will assist in restoring the gold parity of the pound sterling. Thla operation Is facilitated, of course, by the faot that Canadian exchange la around or above par, and the ship ments of gold from this country to Canada entail little or no expense. Just what arrangements the British government may have made with Canadian banks Is the unknown ele jment In the undertaking. .XAHTrOtVfl WALL STRKET OOISIP Mr Lows ftn ta Datb Rm.1 I (CkpnUat, 1(31. bj rsllvMsala rubllo Ltdfrr.) - few Tork, Dec. a. Although Wail street was disappointed by failure of I the directors of Endlcott-Johnson to i declare an extra dividend for the joommon at" today's meeting, traders 'war still willing to believe in bet ter look for the coppers. Kennecott . directors meet later this week and there it a well-defined belief that dividend payments win be resumed by i this company. The average Aspects ... tion Is for a declaration of atrout 60 , oants quarterly, this being the same rate as was paid In 1920, thevjast Jk year when payments were made, l . However, there ara some who look for a quarterly payment of 76 cents, ' basing this belief upon the general Improvement In the oopper Industry. The announcement that the busl ness conduct committee of the New Tork stock sxohange was no longer asking for regular reports covering the loan position of the member firms cheered sentiment considerably. Dur tntj the recent period of liquidation It baa been reported that houses ware) "trimming lolans" In order to make a better showing and that thla necessitated a reduction of expended aooounta. Whether or not this ' statement has been justified, it has had the effect of unsettling conn dene In the market position. The budget of favorable news con I earning the equipment stocks con- tlnne to increase steadily and with th St. Paul adding an order for 85 Mlkadcs to Its recent order for 60 locomotives of the. same type Br deredMrora Baldwin and about 60 locomotive ordera placed with other companlea, the future prospects of the Industry leave little to be de aired. New. Inquiries of from 2, 000 te 1,000 freight cars are in the market, recent orders booked by Central American Tank Car aggre gate some 4,000,000 and yet the to tal of equipment ordered leaves the main systems still In need of a great amount of equipment and rolling stook. ' , Unfavorable rumors lately circu lated regarding the prospects and condition of the Erie are again re futed, this time by the actual figures of business being done. The move ment of loaded cars during Novem ber represented one of the most ac tlve periods In the history of the road. Total loadings were 693,210 cars, this comparing with but 426. 147 cars In November, 4921, and 490, 70S cars in October, 1922. Consld erlng the necessity for placing em bargoes on this and other roads in order to leave sufficient eqlupment to handle tne ireignt lor wnicn me greatest need exists and also that all of the tonnage carried will soon be translated Into terms 'of gross In come, the position of the road ap nears to be the best answer to tne receivership proposals. Reports that J. Leonard Kepiogie has acquired considerable Interest In Wlckwire-Spencer and will soon as sums a leading position on the board caused little surprise in the financial community. Far some time the air has been filled with rumors of Reulogle-Wickwire merger, and while this does not necessarily lm ply that the two companies win finally merge, It is apparent inai such an eventuality is quite on, the cards. Another stock which showed very good Improvement during November was Internalonal Cement and esti mates now are that earnings for 122 will run at least $4 a share, While the promise for next year is almost twice that much. MONITOR. By BUD FISHER THeS PHOTOS r HM TAKeM A SPeAKlNti LuiF Fore ft chriUmas V l AVer to a Hus&ANa t DoM'T fou THiMk r Htoe-y C YS, A 1 r. T ivAei sKe'u. HAv-eTcx; ' " I'u. &or x.s oPiwiwjM L - :W- 1 rUlNNI 1 tnw,-.. i nn-- i ' - VT - f "I'll P B r ' . jsssfav y . ' ' aaasa ' BRINGING UP FATHER BY GEORGE M'MANUS i' C. B. EVANS' CHICAGO LETTER. SJ Uvi Win to Ptlll Mm) (Oaprrlfhl. ltll. kf nuaMpbla TMt Leoev.l Chicago, Dec. 4. Customers of a leading house In this city that have heretofore held on were selling stocks today. United States Steel being one of those mentioned. This is evidently a case of getting tired. Another house, ranking aa strict In its busi ness methods and, conservative, re ported "a lot of Investment orders." We are getting in general ousinesa considerable of the aftermath of the bad times of 1921, snd as a conse quence in stock . trading also. Here and there a bank falls, say In Colo rado or Montana, and onswis reminded of the flakes of singed papers that are floating In the air after a big fire. The destruction of statues in 1921 was a pretty big fire so far aa profits and Incomes were concerned. It was a year after the election of McKlnley before the revival of busi ness became visible, and that was no surprise to men in the thick of affairs for they knew how many people there were on the edge of going to nieces. Our revival from the depres slon of 1921 came too soon and likely we are going to have the other side of the short wave this year but in dea-ree little Impressive. The slumn below 67 In International Harvester after the large decline of last week was not much of a sur- Drlse. for the directors some weeks ago had given warning that the atock dividend, might be stopped in the near future. The recent history of this stock Is a good illustration of what a gambler's life the life of a farmer la, for the International Har vester company Is a farmer in the sense that it gathers In the crops. One might compare this company Ith General Electric which has made a nrettv stesdy march to pros ent high prices. There are no such vicissitudes In the electrical Industry as in the farming industry. The supply of the electrician's crop Is limitless. All you nave to qo is io tap the earth or the sky and you are sure of all you want. There are no teaces and no areas that belong to somebody else. Surely the dynamo Is mightier than tne noe. One might say, therefore, to hold ers of the stocks of electrical com panies, "sit tight and the agri cultural bloc attend to the farms. Tou are in no danger unless LaFol lette gives the earth an unusually big thump and sets the magnetio toroes at odds with the Interests ot humanity." While there nave paen misxaices and disappointments, you may go throurh the list of electrical con came In one connection and another and And that they have done better than anv one class off companiea, ,n InnliMMnar tne OH imereBiB, which has not Been pnenomenmu successfully in many Instanoes out M the Standard Kroup. The authorities say that what nas already been done in electrical lines la e. mere becinnlng compared wun th achievements of the future, al r.ndv nartlv In eight. Nor ao far aa the stockholders are concerned need thefe be any question as to de mand for electrical service, which Is beyond sll estimates. This funny little fluid that nobAdy understands very well will soon be doing pretty much all man's work for him. By comparison International Har-J vester stock is a aisappoinimenv. Under admirable management It strldea the world, though Its eastern hemlaphere foot has been badly crip pled since the opening of the war of 1914. It was ao rich that It could charge off millions upon millions and still hav ea surplus that any corpora tion might be proud of, and as com pared with many stocks that navo advanced In this year's rise one might fancy It worth 160 baaed on the five per cent caah and four per cent stock dividend. It has an advantage over other corporations In its line by the preatlge of Its-name and the variety of Ita producta. Yet the reason for stopping the dividends are evidently goodone,a. Doubtless the prospects for '1923 are not so bright as they V fOCKEO OP ALL fw WtLEFTMEMY LETTER OFF OF A f M yvkvvHt I FEEL. LIKE. J I LJ OF MV CLOTHED- rwmi PrXJrVMrVb- 1 , LAUNOfv TICKET I ( I jfjKpt dT JY W.I AtSATiVEt Ij I HOW A.M I ONNA riasOTilF L FOUMO-tSOW PER. c" V liW S M fll T SJ-""3 ' ' ' ' "" aeemed a few month ago. Accordingly, we have the 8tock tit 16 today compared with the high of 116 for this year. The people who obught last year at the reduced jrlcea -have had opportunity many times since to realise large profits. It Is probably In the back of some good heads that the quotations of today are good ones for a buyen who Is willing to wait and take between Ave and six per cent for his money meanwhile. But let ho one except any conalder- able help from the agricultural bloc. True the lending of money to farm era wlH enable some to buy that otherwise could not buy, but no real politician la going to put money Into a big corporation's treasury If he can help It. C. B. EVANS. NEW YORK CURB MARKET New York, Dec. 4. Tranaactlona on the New York Curb Market today were as followa: Industrials. Fanner and Beane Itoek Letter. New York, Deo. 4. Price changes in atocka were very much confuaed. All theae conflicting movements in dicated however, was that a certain portion of the profesaional contingent were working for a reaction after last week'a advance, while another portion were continuing their efforta to bid up a variety of aelected atocka. On no day for a long white paat has there been so little worth noting in the fluctuations of lndtvldu stocks. The buying of Studebaker waa the moat peralstent of that In any of the, motors, reflecting the re celpt of advance estimates which are very satisfactory regarding the earn Inge for the last quarter snd the for ward business for next year. While not counting muoh in Immediate cal oulatlona Wall street took aa highly favorable tne ruling ot the stock i change governors that brokera no longer need make reports on thi amount of money borrowed. Thia re quirement had been In force alnce the autumn of 1918 when lit was In augurated to curtail Wall street's allotment of available funds and In this way help the flotation of the fourth liberty loan. Ita abroratlon la another lnatance of the dlssppear- anca of credit Inflation. But of more consequence there la to be aeen m the action proof that the atock change authorities, who aet about curbing the operations of a number of atock exchange houses three months ago, on the ground that these were exceeding the aafety limit, are aatlafled with the amount of cutting down which has since taken place sjhe stock market of last hour or ao was of very little lmnortsnce. Trsders, at a loss of what better to do, tried, in a half hearted fashion, to depress th steel shares. ' Marland Oil waa sold on the uncertainty re gardlng the next quarterly divl dend to be acted upon at the end of the week. Railway shares were off a point or two from the high of last week's rslly. But the reaction, such as It wan, did not carry far. The final dealings were the quietest In many weeka. FENNEIl AND BEANE. Sales. 1400 1000 100 100 SOU 100 800 100 900 100 2000 1000 1200 200 100 200 6700 400 75 400 110 1000 100 60 4500 2700 400 400 30 75 100 200 4500 400 800 100 700 6000 400 100 700 600 100 295 100 13"0 1600 200 400 10 1200 100 A Rucker Bonded Warehouse Corporation v Cotton Storage Cotton Factors Greensboro, North Carolina One million bale of cotton bought annually within a radius of 100 milat of Greengboro. Store your cotton in one of the best market in Amer ica. Liberal money advances on cotton stored. Keener and Beane Craln Letter. Chicago. Dec. 4. Wheat market waa under pressure most of the day from commlsaion houae liquidation and professionals owing to weaker cable, limited foreign demand, and eapeclally to the absence of outsld support. December led the decline, the weakness at Winnipeg having innuence at ttmea. pricea there clos Ing 8-4 to H4 net lower. Sentimen was mixed. World's wheat shipments lasi weeK were, reported a record a over 19,000.000 bualiels while on th other hand on passage stocks In creased liberally. At the eame time. the domestic viable .decreased 1. 700,000 bushels whereas the trade had looked ror some increase. Corn waa under pressure, due the action In wheat, with larger re ceipis ana less active casn demand. Oats was moderately active and weakness was mainly In the Decern ber position. Scattered liguldatlon ana nmiiea aupport ware the fea lures. Receipts were more liberal and the cash market easy with slow demand, but the visible creased around 1,300,000 bushels for the week. FENNER AND BEANE. Dry ttoode. New ork. Dec. 4. Cotton good and yarns were quiet today with slightly softening tendency reported Kaw suk waa reported active am higher In Yokohama with quiet ore vailing here. Fancy cotton blankets were being shown for. fall, Wool goods were firm- and quiet. Burlap were steady with eaaing reported at Calcutta. Metal Market. New York, Dec. 4. Copper steady electrolytic, spot and futures 13H&H Tin Arm; spot and nearby i6.00Q86.12 rutures ao.zo. iron sieaay; number northern 27.00029.00; number northern 26.000 28.00: number southern 28.00 26. 00. Lead steady spot 7.10 7.86. Zinc Arm; East St Louis, spot and nearby delivery 7.16 Antimony, spoi e.ausys.Ys. New York Money. ftew lorn, Leo, ' call money firm: high 6H: low 6: ruling rate 6 closing bra IVt; offered at 6; last loan 6H; call loans against acceptances 4V. Time loans steady; mixed col lateral. 60-90 days 4 06: 4-6 month: 4fcC6. Prime commercial paper i. Cloae. Acme Coal 67 Acme Packing 87 Amalgamated Leather .. 16 Amer. Hawaiian S. 8. .. 17 Arnold, Constable 2H4 Atlantic Fruit Co 1 Brit. Amer. Tob. coup .. 20 Brooklyn City R. R 8V4 Buddy Buds 1 Cent. Teresa Sugar Co 1 Chicago Nipple 8 Columbia Emerald 60 Continental Motora 10 Cuban Dora. Sugar 5 Curtlaa Aero 4 Dubller Cond. A Radio.. 8 Durant Motora 68 Durant Motora Ind 14 OUletle Safety Raior ...248 :len Aldnn Coal 51 ireat West Sug. pr 107 Heyden Chemical 2 Intercontinental Rub. .... 6 Lehigh Coal Salea 79 Mercer Motora 8 Mercer Mot. v. t. ctf. Meaabl Iron New Friction Pub. New Jersey Zinc . New York Tel. pr. Peerless Motors Philip Morris Radio Corp. com.- Radio Corp. pr. Reo Motor Truck Repettl Candy Schulte Stores South. Coal & Iron Standard Motors Technical Products Technicolor, Inc Tenn. El. Pow '.. Tob. Products Exports. Todd Shipyards U. S. Distributing U. 8. Light & Heat IT. s. Light & Heat, pr. . United Profit Shar., new United Retail Candy ... Univ. Leaf Tob West End Chemical . . . Willys Corp. 1 pr. ctf. . 1100 JrVinther Motor A ntnnaarn uiut. Anglo American Oil ... Atlantic Lobos Buckeye Pipe Line ..... Crescent Pipe Line . . . I . Oalena Signal oil Imperial Oil. Canada .. Indiana Pipe Line .... Nat. Trana. Prairie Oil & Oaa Prairie Pipe I,lne ...... Southern Pipe Line .. South. Penn. Oil Stand. Oil of Cal. w. I, Stand. OH of Ind Stand. Oil ot Ken. .... Stand. OH of N. J. w. I. Stand. Oil of K Y. w. i. Vacuum OH Vacuum oil w. I. Independent Olla. Allied Oil Boone Oil Boaton Wyoming Carib Syndicate Cities Service rifles Service "B'-ctrs. CHIes Service pr. Cities Service B. B. w. I. ronaolldated oyalty ... Knglneera Petroleum ... Federal Oil Fenaland Oil Olenrock Oil Oulf Oil w. I Hudson on i: International Tetroleum Keystone Ranger Klrby Petroleum i .tin Am. OH Lyons Petroleum ... Magnolia Petroleum Mammoth Oil Maracalbo Oil . . . . Marland Oil of Mex. Merrltt OH Mexican Pan Mexico Oil Midwest OH Midwest Texas Oil . Mountain & Gulf OH New Kngland Fuel . New York Oil Noble Oil ..Omar Oil pennok Oil Salt Creek Salt Creek Cona. . . Sapulpa Ref. Seaboard OH Gas Sheila Union Oil . . . Slmma Petroleum . Southern Pet. ft Ref. South. States Oil . . Texon Oil at Land . Turman Oil Wilcox Oil "Y" Oil ias Mining. Alaska-Brit. Col. Metals 2 Alvarado Mining 4 Big Ledge 06 Bison Oolfl is Canada Copper 02 Candelarta Mining .86 Canarlo 2 Con. Copper Mln 8 Continental Mines 4 Cork Province 17 Cortes Silver 1 Cresson Oold 1 Dean Cona 09 Divide Extension ., IS Dolores Enperans 1 Drjden Gold Eureka Croesus 28 Fortuna u.-r.v.. Ut 600 loo 46 126 10 90 240 200 80 205 80 20 5 no 16500 8500 9"0 2600 80 4400 47000 6000 100 3500 470 1100 400 100 500 liono 1200 100 401)0 1000 100(1 4400 J6000 200 700 2900 60 8900 1900 1100 1100 1000 1300 1,00 800 5800 vl"0 JO0 8000 1800 800 8100 100 100 600 1000 6500 9000 1400 29000 4000 4 00 1000 600 100 moo .4000 1000 U200 leo 1200 700 1000 2700 600 2500 8000 400 10 48000 J000O :!!, .171 .110 . 68 . 1 . 8 . 2 . 14 . 1 . 67 . .38 . 2 . 6 . 22 . 16 . 6 . 69 . 81 . 15 . 1 . 6 . 5 .116 . .70 , .10 . 11 . 19 . 7 . 88 . 43 .. 67 .113 . . 90 , . 25 . .630 ,.310 . :ioi . .169 . . 68 . .116 . .123 ,. 39 . . 47 . ,645 . . 41 . . .04 .. '.03 . . 92 . . 4 . .108 . . 20 . . 68 66 1 .18 .82 12 1A (4 .12 21 .28 . 3 . 68 . .68 .283 . 42 . 16 . 4 . 7 . .47 . .78 . 1 . 18 . 10 . 64 . 16 . .80 1 . 8 . 19 . 10 . 3 .12 . .11 . 17 , .84 . 1 . 5 . .08 Sales , Closs 2000 Goldfleld Deep 09 1000 Gold Development 08 1000 Goldfleld Florence U 3000 Goldfleld Oro 01 6000 Harmlll Divide Mining . . .07 200 Hecla Mining 8 1000 Henrietta Sliver 49 300 Howe Sound Co 2 16000 Ind. Lead Mines 29 100 Jerome Verde Dlv 2 200 Knox Divide 04 2000 Lone Star .05 1000 McNsmsra Crescent 06 6000 Marah Mines Cons 08 1600 National Tin 28 800 New Dominion 8 4000 Ohio Conner 46 2800 Ray Hercules Mines . . 8000 Richmond Cop 2000 Ruby Rsnd 14000 San Toy Mining 2000 Sliver Mines Am 2000 Silver King Dlv. raorg, 1000 Simon Silver 1000 Spearhead 6900 Tech Hughes 6000 ' Tonopah Cash Boy innn ITAnnnnh Divide 8800 Tonopah Extenalon 8 100 Tonopah Mining 1(1 1000 Tuolumne Copper 1000 II. 8. Continental Mines 800 Unity Gold 8900 United, Eastern 700 West End Cons 1000 West End Ext Bonds. Sales'dn 81,000) 1 Allied KSCKer Allied Pecker ss Aluminum 7s, 1928 Aluminum 7s, isaJ Am. Light ft T. 6s HEAVY LIQUIDATION SENDS BONDS LOWER Heavy Selling Movement Develops In Railroad Mortgages With Soma Losses. ... 75 ...88 ...103 . . .106 W..100 Am T)n rnun 6a 68 Am Smelt. A Ref. 6a w. I. 92 4m T.l Tel 6s. 1924.. 100 Anaconda Copper 6s 100 Anaconda Cop. 7s. 1929.. 108 Anglo Am. Oil 7s ....108 Armour Co. 7s 104 Atl. Gulf & W. I. 6s .... 62 Bethlehem Steel 7s, 1928.104 Rethlehem Steel 7s. 1935.102 Cansdlsn Nat. Ry. eq. 7s. 109 Canadian pacinc a Cent. Steel 8a Cities Service 7s, "C Cities Service 7s, "D Columbia Graph. 9s. . Con. Oaa. Bait. 69 .. Con. Textlls 8s Deere ft Co. 7s Detroit City Gas 6a Galena Signal Oil 7s Genersl Asphalt 8s Gulf Oil 7s Gulf Oil 6s J 7. v Hock Yalley 6s 2 Hood Rubber 7s Interboro R. T. 8a, mzz Interboro R. T. 8s ctf. Kansas Gas ft Elec. 6s Kansas City P. ft L. 6s Ksnaas City Term. 6s Kennecott Copper 7s' .. Laclede Gas 7s Manitoba 7s Missouri Pac. 6a D .... National Acme 7e , N. Y., N. H. ft Hart Ohio Power 6a Pub. Ser. Cor. of N. J. 7s. 102 Sears Roebuck 7s. 1928 . .101 Shswsheen 7s 104 Sheffield Farms 6s 100 Sloes Sheffield 6 97 Southwest Bell Tel. 7s ..102 Stand. O. of N. Y. 7s. 1927.106 stand. Oil N. Y. 6a ...m6 wut Co. 7a. 1J1 10 2 22 28 26 4 12 6 1 1 7 17 10 20 t 3 2 6 17 2 5 2 101 . . .106 .. . 95 ... 91 ...82 ...102 . . . 99 ...102 ...100 ...108 ...100 ...108 . . . 97 .ioo . . . 97 97 97 90 100 108 101 98 99 96 77 92 7s. New York. Dec. 4. Heavy selling of speculative railroad mortgages, particularly the St. Paul and Erie la- sues. Imparted a weak tone to prices today a bond market, trading In which was compsratively dull. There were a few outstanding exceptlona to the downward trend, particularly In the Industrial group, which aeemed to offer better realstanoe to Belling pressure. Seaboard Air Line refunding fours were the hardest hit In the railroad division, dropping 1 jjointa. Loases of one to 1 were quite prominent, among the more prominent being St. Paul general 4's and 4'a, convertible 4 s anoi 6 s and rerunding 4a, Mew Haven convertible 6's. Chicago and Alton 8's and 8's, Erie consolidated 4's and general 4's, Pennsylvania gen eral 4's and "Katy" adjustment 6's. Frisco general 6's sdvanced three points, New York Central debenture 4's of 1957. 2, and New York, West chester and Boaton 4's, 2. Pere Mar quette a s, Erie and Jersey central 6 s and Mlnneapolls-St. Louis refunding 4's also showed Improvement. Union Bag and Paper fives led the advance In the lndustrlala with a gain of 2 points. Cerro De Paaco 8'a were puahed up 2, 'hut Chile Copper 6's and 7's lost ground. Other strong Bpots were r Isk Runner s, Wilson convertible I s. Virginia Caro lina Chemical 7'a, American Agri cultural Chemical convertible 6's, Cuba Cane 8"a, Morris and company 4'e, and Producers and Refiners 8 s, ths gains ranging from one to 1 points. Oeneral Electric debenture fives lost two points and Atlantic Fruit 7's, Slnolalr Pipe Line 6'a and Marland Oil 7's, one to 1. There were lew chsnges or im portance In the foreign group, Zu rich 8's Improving 1 snd Brazil 7's one. while Denmark 8's and Cxecho-Slnvaktan 8's fell back a point each. United States government Is sues were Irregular, the flrat 4 a gaining 10 cents on 8100 and the oth ers moving within a radius of eight cents. Total aales (par value) were 810,- 827,000. The largest offering today waa a 84,348,000 Issue of 25-year flrat mort gage collateral snd refunding aix pnr cent bonda of the Central Indiana Power company, which was s'1 to the public at 95 and Interest yielding hout 6 40 per cent. Naval Htorea. Savannah. Dec. 4. Turpentine, tothlng d(,lng: last sale November 27 at 14... receipts ill; shipments 212; atock 12,694. ' Rosin firm; sales 685: receipts 2.147: shipments 10.041: stock 108.894. Quote: B, 11, E. F, O, H, I. K, 6.00; M, 6.80; N, 6.60; W1, 6.80; WW, 6.40, 1 l Bar Silver. New York, Dec. 4, Foreign bar sli ver 64; Mexican dollars 49. salisbury'weddings. During the Paat Week Three Salis bury Women Become Brides. 'IdkUI U Dallr Nan. I Salisbury, Dec. 4 A wedding of Interest to many friends in this sec tion of North Carolina occurred Wednesday evening when Mlsa Mar garet King Tatum became the bride of P. p. Roaeman. of Cleveland. The ceremony which was witnessed only by Immediate relatives of the couple was solemnized at the home of the bride's psrents, Mr. and Mra. P. O. Tatum, on West Council atroet, snd waa performed by Dr. R. L. Lemons, of Flrat Baptist church. Mrs. Roneman has been for a year head nurso at the Salisbury hospital. Mr. Roseman la a young business man, of Cleveland, this county, and the couple will make their home at that place after motor trip to Washington city. Charles Lungren, formerly of Bars, va, and Miss Lsfura Cross, of this city, were married at Greenville, 8. C, Thanksgiving day, Rev. H. O. Chambers officiating. Mr. Lungren is with the Harris Granite oompany. of this city. His bride has been bookkeeper at a local business house for sometime. The couple will make their home on East Bank street. Miss Lucy Stewart, of this city, and James B. Parker, of Spencer, mo tored to York, S. C, Thursday and were married by Judge J. L. Houston. The couple were accompanied by Edwin Blacknell and -Miss Lois Clsrey. The announcement of their wedding came as a surprise to their friends. Chrysanthemums All Cellars All Prices Summit Ave. Greenhouse Percy, near Sasamlt Aveaae Phone 14 B. B. Egerton Civil Engineer Oreensnor. N. C, Highways, Streets, Water Power, Snhnrbnn and Park Developments Land SnrvevlnsT and Subdivision-. Plans, Mans and Estimates. Address, Gatlrera Hotel. Foreign Bnr Silver. London. Dec. 4. Bsr sliver 26 A pence per ounce. Money 1 per cent. Discount rates, short and three months bills 2tT2 par cent. Will You Use a Set of Aero Inner Tires For Ten Days Free of Charge? Puncture Proof. 1 If you are interested in this free proposition see GREENSBORO AERO TIRE CO. 2 1 6 S. Davie St. Phone 898 Coffee Market Closes Two Points Lower to 5 Higher New York, Deo. 4. The market for coffee futures was rather Irregular today, an early advance on near months being lost, whlls later deliv eries held, fairly steady on covering promoted by talk of rather a steadier cost and freight situation. The mar ket opened six points higher to three points lower, but after selling at 9.80 for December, eased off to 8.68 for that position, while March reacted from 1 19 to 8.22. May, however, ral lied from 8.98 to 9.06, with the mar ket closing net two points lower to Ave points higher. Bales were esti mated at about '26,000 bags. Decern-' ber 8.70; Jan. 8.6: March 9.37; May 9.05: July 8.76: September 8.29. Spot coffee quiet: Rio 7'a 10: San tos 4's, 16(j16. Cost and freight offers Included Bantos S's and 5's. part Bourbon, at 18.80 to 14.26 and Rio 7's at 10.16010.20 American credits. The latest cables from Rio showed a net advance of 20 Rels In the dollar buying rate and of J, pence In the I rate on London. The Rio market was 260 to 426 Rels higher and Santos about 426 to 476 Rels hlghsr. Brs slllan port receipts 41.000; Judlahy 24,000. The world's visible aupply showed a decrease of 218,606 bsgs for November, amounting to 8,241,944, as of December 1. Company Declares DtvtdendL New Tork. Dec. 4. The Loose Wiles Biscuit company today de clared a dividend of 97 a share on second preferred stock for the period February 1, 1918, to February 1, 1919. payable February 1, 1929, to stock recorded January to. A quarterly dividend of 11.76 on first preferred atooJta!so waa declared ' Tax Free .Preferred Stocks Rosemary Roanoke Chadwick-Hrokint Virtory Yarn Erwin Carolina Power Yadkin River Bonds State of N. C. Federal Land Bank Joint Stock Land Bank Non Taxable Stocks and Bonds ' Investors should consider not only the unquestionable safety of secur ities, but their position with regard to tax exemption. The income from Liberty 4 and 4Vi Bonds and from the new Gov ernment 4 Vis, when held in greater ag gregate face amount than $5,000, is but partially exempt . from Federal taxation. The extent of this exemption will be materially reduced on July 2, 1923, and again on July 2, 1926. We will take pleasure in making suggestions in securities suited to your individual needs in giving the greatest tax freedom. DURFEY & MARR Investment Securities Raleigh, N, C. i -
Greensboro Daily News (Greensboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 5, 1922, edition 1
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