Show SPLIT STOCK r MODERN PLAN I Stock Exchange Stronger Grain and Cotton More Quiet By Dr STUART P SEST Vt Correspondent of ot The CopyrIght 1925 oy Dy Th Consoli Consolidated dated daled Press NEW lORI lORK tb s ll 21 for tor the mot most part pArl hase ha ha c gone highet on the stock exchange durIn durin In dur-In In gIbe I Past at week and homo ome of the 1 ha e been rather striking In this thia accorn- accorn I tho o who have havo ben been fl disposed to the Wall all Street outlook all along alone naturally take R a rood good deal ot of On the other hand those who thin think It that the upward up or l mo mo of No ember and nd are aro roo 0 that It went ent too far ahead of o business simply ilm cl-ilm that thil certain stocks In a favorable either technically tech tech- nic-illy nic or as os I earnings base o l been bid up to conceal sell sell- selling Int Ing In other directions I It will be interesting interesting- to see how this thia market condition works ork I cut Practically ne neer neier er In the tho past na 1185 It happened that sensatIonal dries es ot of o five ten and fifteen poInts II a day In selected elected sha o ia e bon beell but harmful to the list listas listas as a n whole hole I this his occasion may prove an exception e but If It so It 5 Ill III be most surprising There ar are of ot course couo certain railway I I I stocks which arc are legItimately en- en entitled en entitled I I I titled to higher hither valuations not so 0 much owing to the consolida consolida- consolidation consolidation I tion ion plans as Increased earning 10 power er permitting of 01 o a distribution tion of ot dividends where this has not occurred before or an In- In InI Increase In 1 I crease In dividend dh I where here pay pay- payments payments ments are aro now no no being made HIGHER There are certain industrials ils hl l al SiC ale e planning larger ter r p payments ments to their share share- 1 shareholders shareholders holders but which do not like to todo todo do so on the tue present form Corm of tot t capitalization would like j to ralso raise rates from 6 t 6 8 58 t and 10 10 a hare to 20 20 L it b t this w would l at- at attract at I tract too loo much y rho fhe alternative Is a a capital UI Split split lot of the now familiar kind and InI In I which present holders holder ii would reo re- reedit rc ceh edit I four or file flie fh e s ot of o the theno theno ne no stock tock for tor one of ot the old oli And I get ct 4 U to 5 5 on the new This l Is th the tha moderna modern a way ot of doing business It quite C ee ex explains I plains wh Inside holders of ot hIgh priced Industrials are not selling ailing the r present stock an and eloic C why Wily professionals able CI I are to en- en en ter te-r the market aid ald bid these UP tip The fhe Important hold hold- hold us LIS us of ot course ale aie waiting foi L a recapitalization which will gh gie e them a big bic In dividends Set et which on account of the 10 lower er valuation of ot the th new Hew thans will not stir up too much comment G G IL PLAN The Tir d desire to tu put pul thise atlon plans though probably goes oes farther than tItan an thing thine vise Lle to 10 e explain the continued Sll of the markit The rhe public lUbliC will not but bu stolk tocks soiling around 50 to a aShare Share Hut But If IC al aie e spilt split uv Ui Into four or five fhe lie parts tho they are made out as medium medium- priced medium priced Issues liSue of ol successful com corn companies panics p tying d which In- In ol In ohe an attractive return thin then outsiders will 1111 but bu This sl sI I th the great present scheme back of present lay street operations lion tion is b cei 1101 not aCcomplish aCcomplish- aCcomplished td Ld ed L I II Li I wild lid bidding blading up of or old time old stocks But It 11 Is accomplished when these stocks klocks are arc presented to the public In s a dividend form tel et because ot of the high In- In interest In Interest tere terest t yield Site Ule most Interesting episode ol of othe the ii week was the ii t o handling of the market for lor 1 1 rench francs and I rench govel bonds ro o positive e Information has been ob- ob obtained ob obtained tamed along alons this Ihl line But uL the supposition Is that the Bani Bank of working or king with with Ith the tue 1 I rench Inte on Mon Mart Monday day when hen It looked as If It the franc wis again going soine to places n and e support At the th dame sante time the French doll ir bonds eco uLd d from their artificial sustaining the of the treet belle believed cd thit li-it li such tuch or- or or ders dora orders wre pre In the Iho market GOLU LOLD I IS L U Money rats rates ral for the longer pe- pe pe nod period tie hive e hardened slightly as compared with Ith a week ago aso but the mO movement ement has been too slight to affect Investment alue It looks a ai as If it the lh extreme extremo low of the money uney market WAS reached last summer an and that at the same sanie time prices of I Investment estment ties securities got to their top But this tills Is Isa isa Isa a vey vety different thing thine from pro pre pr dieting predicting any big ble change chance in the tho near Ilear future Gold Is going coine out ot of the country In large larte volume More lIlore Is IH needed In commercial lines IInes The Tho speculation In stocks and In wheat heat has been another r capItal source for tor t tIng Ing up banking capI capI- tal MORE COU G This Thin has begun be un to chow In the thO statements or of o the Iho tede al reserve bank bAnks Tho The New Mew lori lorli clearing hou house member bers are ex- ex ox rm ex the rediscount liege as they were ero not doing B II mouth month and two t no 0 months ago But still sUII time the money situation Is far 11 away a Irons Crom credit lit strain like that 0 of five flye dit tiara Lars aeo aro ao There Thero I Is a a dif dlf- Ie enee of oC opinion as t to the course of f nt interest rest rates during the th rest of the vear ear car But even those iv ho turned belle 0 that conditions condition have turn turn- ed and the tho tendency Is la Up Upward ard are perfectly willing to 1 1 edge e that thal the hardening J will be ve volt gradual which mean nican that any deClining tendency In In- In Ini i l v wIll m be bc I slow AND ID COTTO COTTON inthe E Excitement has quieted down n In the grain Krain market and It is t two 0 months since tince cotton collon has ha done anything at all In both boils Instances thud tho attitude Is I to await moro niece dell dell- nile nite definite matlon the tue new e fi on supplies Th Tho 1926 1921 Canadian wheat crop It U is not net hard to 10 to figure will J 1 be bc rd as badly off orf that a as of ot 1924 1124 On the oilier r hind hand the th American h est will iii have havo to do well In order to 10 equal last tear ve ear m ii 5 total One point I Is certaIn i 11 mind and that 18 Is that thal esen en with big a buying power po Europa Is not nol going to II pay 1 50 to 1 60 CO bushel a a for our sur- sur surplus surplus plus ur-plus plus LIBERTY DO DS BO NEW NEWORK ORK lOHI 1 Ie Id I-eb I 21 21 LIberty bonds closed 3 4 s 10 1112 I 1 28 8 t 45 blank second 4 blank first 27 second I li s 10 I i 21 thud 4 13 11 olin m I li 29 U U S 4 1 8 e lOt 31 U Ti S gO 29 VJ S LAKE MINING Quotations furnished d bt b J A AHod A logic I-logic 8 Co Ce Salt Lake Lak Stock and MinIng lininI Exchange E e I gild I Asked Alta Alt Michigan 15 15 25 I Alta Con American American Metals 00 OOs 01 I Alia Tunnel Alt 02 03 Alta Merger Bullion 02 04 04 BullIon 01 02 I lug lilg till Hill Biff 08 08 08 lug Cott Colt Coal Beaver 06 fI 08 er Bea Copper Bineham 01 01 I BIngham Mines Cent 37 00 Cent Standard Cent 08 OH 09 I Cent Eureka 01 03 02 Cedar r Tall Tails Colb 00 01 01 Colb Ro 28 26 27 Comb Metals 36 26 27 Cob Colo Con Cronn 07 01 07 Crown Cron Pt It 09 10 Cardiff 1 35 15 1 to 40 Chief Con I 80 50 4 00 Doh Dali 13 2 00 Dragon Emmi OS 08 10 Emme Emm Sliver Silver OG 05 3 06 Empire Mines 09 09 11 Emerald j is 15 lInes Iines 03 V t 04 E M Cr Point 04 04 4 04 a II E L Tin Coal 07 09 E IJ Tin Con 22 24 Eureka Lily 10 1012 12 1 Durek Eureka Bullion 07 08 OS OSGold Gold od Chain 10 12 13 Ot Gt Western 03 04 Hamburg Mines 01 Ito's Howell ell eli 02 02 i 03 Iron Blossom 30 SO 31 Indian Queen 01 I lion on ICing 79 80 0 Ko tone 75 76 78 Kennebec 22 26 Little Litti y M 02 02 04 Lohl Lehi 04 4 04 Y 04 04 Leonora Leenora 00 00 Mammoth 1 10 1 12 Miller HillI Hill till I 00 Oti 01 is Mason Valley alley 1 75 2 26 25 tn Mow 11 12 Moscow 1 10 0 14 Michigan Utah 11 12 I I Mont tont 04 r 04 38 31 40 No io Standard 05 4 05 0 o j JK Silver On 01 On 1 Ohio Copp Copper r 1 00 1 25 23 Park Cy M S SS 6 5 35 5 50 Park him 16 17 Pall Paik Utah 4 00 5 54 58 56 he J lo he Bristol 01 niu 02 Price Pric 01 Provo Pro I Oi 07 Prince Con 23 23 Rico Arg Arc 07 Reeds heeds Peak Penk I 02 Rico Well II 00 So Standard l 16 K 17 iT Syndicate S 01 I 01 01 hll Ml King Klin Coal 6 30 King iCing Con SO 80 I Sioux Mines 04 06 0 Sih Silver Shier er Shield 16 I 6 i 14 19 Tir Tu Baby 00 00 OO Tintic Tintie Central 05 0 I 06 00 Tintic 9 i 00 I 9 15 li ConI Con I 02 I v Con I O 02 03 3 Union Chief I 01 01 I cst Toledo Toedo 09 10 Walker aller ting ng 3 20 3 32 Woodlawn oodla n I 14 I 14 Yankee Con 08 OS OS Ot Zuma Zurna I 10 10 I i Saturday s q Sales SalesI Alta Consolidated 1000 at nt I c c I Columbu Re Rell ll BOO at Colorado Consolidated 2000 at al Ic Crown n Point 2400 at lOcC at 1 37 3 Emma Silver Iver at 5 c l at 17 at fie 5 c 2500 at Gc Cc Eureka Mines SOO at 3 Great Grat Western fOO at ot 1500 i at al 3 cI c I lion Blossom at 31 c 20 OO at I Iron King at l iO TOe I 1000 at Mountain View at lie I Mammoth at al 1 Si 10 Michigan 1000 it t tic lie at lit 11 lie C I CI Purl mine Utah ft H 3 3 n 95 I at Prince 2500 oo nt at 13 2 3 c cI I Silver lIver King Cotillion at 6 05 at 6 C 10 Tintic Central ill 12 at 5 e I Utah at 2 z e West e t Toledo at 9 c at lOeI lOe oo 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