'7T' "i-ir .. -. r1 1 s w. ; is EVEXING PUBLLO ) LEDGER PHILADELPHIA, T: HURSDAY, FEBRUARY 20, 1919 SM llTiree-Year 6 Secured Gold Notes YteUwtf over 6XA Issued by the Southern Railway Company. These notes, which were re cently oflered to the pub lic, were rujickly absorbed and wercV'-;c-las.c'- y most conservative invest ors and institutions. For information regard ing the security, earn ings of the Company and other important f a c t s, send for our descriptive circular No. U-23. Chandler i Company Franklin Bank Building Philadelphia Ntir Tork Boston Kr US FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS INCREASED OUTSmE INTEREST " " ' New y0T NEW HIGH PRICES ARE PMiadciPiZ7r ACTIVE TRADING CHARACTERIZES ON THE NEW YORK EXCHANGE Bulls Continue to Hold Price Movements in Absolute Control Market Established at Materially Higher 1 riees- -Leaders Traded in on Large Scale High Points in Today's Financial iS'eivs The clay on the New York exchange is one of great activity, with oil anil the tobacco shares attracting most interest. The Asphalts and Lake Superior continue to dominate the local market, with the former touching the highest price in their history. New high prices are made in many issues on the Curb. Dullness is unrelieved in the foreign exchange market. Cotton prices are higher. Bulls gain control of the corn market and prices advance. Commerciul bar silver is one-eighth pence higher in London. 90', 44U l2- 18 02', 544 43 : 87". 108 J Taxation- All Branches There are many or ganizations, recently sprung up, equipped only for income tax work. Our service in cludes taxation in all its branches Fed eral. State and Local. Ours is the oldest tax service in Phila delphia, and is used by leading law firms and trust companies, as well as by many important corpora tions. TAX AUDIT COMPANY 311 Pennsylvania BIdg. H.rriiburg Office, 209 Dauphin Building New orli, Kelt. 2u. Hulls continued to held pike mocment In absolute control In today's trading, and although there uis heavy t cadg ing ut times, causing sharp reactions after achnnce", the general market was established at materially higher prices at Hip end of the d.ij. Theie was a pronounced Increase In outside Interest, with commission house biding on th largest scale noted since last Not ember, and the onto wuy In which the bears participated In the trailing was to make urgent efforts to coter short", as their resources ttero steadlh exhausted. Many stoiks were established at new high teeords during the day, among them ltoal Dutch, which .sold at !9VS, Pan-American Petroleum, which moved tip to SI3, and Kelly-Sptingfltltl Tire, which made u gain of 5' points to SS. Kojal Dutch in teaching Its high let el moved up mole than 6 points, and Chandler Motors rose t points to 1 -6. International l'aper, which was heavily traded in all thioligh the day, sold at 43'j, a new high for i ecent times. The market leaders were traded In on a large fccale and n good deal of Importance was attached to the buying of l.'nltcd States Steel by banking Interests on which that stock rose mom than I point to 04. Other steel Industrials made gains of more than I to 2 points, and a number of specialties moved up from 3 to u points during the first half of the day, but lost their gains In reaction in the lat trading. tiulllsh Interest was checked for a time In the last hour, when a celling movement developed In the copper group based on epectatlons mat the quarterly statement to be published tomorrow will be extremely unfavorable. The bond market was Irregular, with must inteiest attached to the U.ing of fourth 4's by institutions Other Issues were Irregular BULLS GAIN CONTROL IN THE CORN MARKET BIG JUMP AT OPENING OF COTTON EXCHANGE Adams Kxpress 41) Adv Iltimcly . . '.'I do pref .. GO" Max Hubher. . 73 ' Alaska Juneau '.' AlllslChal .. .. 3B"i do prM ... 87 'a Am Agr Cheiii.lO". Am JUt Kucer. lis. Am Can 4BI. ir. 1 Am V. & T'dy Co 01", 00 j Am Cotton Oil. 44', 41 wii itukkisis. i-n i Am Hide A: l.ea IS'a IS do pref .... 93 , m I Am lilt Corp . 0fii4 04 Am Ice Sec. . . 43 U 1.1 I do pref , . 63 .! Am Unseed .. 48 48 do pref .... 88 87 I Am Locomotive 6' 04 Am .Malt .... i, l do pref ... . I5ia 15 I Am Hineltlng.. (i, l!3 Am Smelting p 103i 103 m Sum Toll, ins u 107 .vm S eel Kin 77 . 7(1 77 Am Tel & Tel. 1043, jos'i 101 Am Tobacco ,1s7, 107 'a 107 Am Wool . .53', 53 S3 Am Writ I' pi- 35 S3"; 34 Am Zinc fc I,. 11 1 111, 11 Anaconda , 50 " 38",, 58 Associated lug SO" SO'i 20 Atchison ... in'', 92 S2 Atlnn Coast r. 0234 iij". 03 Atlan (1 & V 1 OS 07' j 07 Ualdtvlu I,ocu 77' 76', 76 H & 0 47$, 47 47 Beth Steel 11. . liL'S, 62 GL' do 8 pe nf. . lilt, 104 " 104 Hkn ttH) Trail 3fi4 25', 26 Hooth Fisheries 10'- 19", 10 Hums Bros .H" 146"; 146 Ilutte Cop A .. 5', 5, 5 Butte & Si cp. 17 17, 17 Cal Petrol . . 27', :, 27 do pref . . 73 'i 72 'n 71 Cal 1'aclilng . "J'.. 52?, 52 Can I'aellic . 161 IfiO'j 161 Ceil Lentil .. 63 61 'i 62 Cerra dc P.isco 32 32 32 Chandler Mot .126 121', 126 Che.s & Ohio. . 37', 56', 6S Chi Ot West . R'n 8 8 do pref . . . ', 2fi'a 26 Chi M & Si p 36 '- 35? S5 do pref ... 70 70 70 I'niS I'ac t c 21 ', 24 24 Chile Copper . 17r, 1 7 ai 'i Chlno Con Cop 33 '3 32 , 3d Col Fuel & Iron 38 37 s 38 Col Gat & l'lce. 13', 424 43 Consol Gas . . 04 91 01 Corn Products. 10'j nl'Hflll.,0 Tiilo .. Crucible Steel. 50 'j Cuba Can Sug 23' Cuba Cane s pr 74', 71' 71' Dome Mines . . 13' 13 13 Distillers Sic. BID. 55, :', Krle 16S, 16', 16', do 1st pref . . 27'a -'H 27, Gaston William 23 27 20 (Jen Clgnr Co. . Bl'a 53'j it's Ceil Klec Co... 1533 153J. 1533. I Gen Motors 143 140 140'j 1 do pref .. .. 854 85'. SS? (Goodrich 15 K. . 62'3 62 62' tint H Cp (ntf). 116'.! u4a, uaa ( u MADE IN CURB ISSUES Royal Dutch and General As phalt in Active Demand. Keystone Tire Advances U New Tork, Feb. 20. There was ac t 1 tlvo trading on the Broad street curb rf , with new hleh prICcs made in several fl Issues. Nearly all the speculative ln ia tercst was attnehed to the trading In , I rtojial Dutch and General Asphalt with bu lug of both those stocks coining from Philadelphia, and local banking Institu tions. Itojal Dutch, In which morp than 5000 slimes changed hands during the foienoon, started at 85 '.i nrul Hdvanced to 00. and General Asphalt ranged from 70', to 72 'a, both stocks making new high records. Other oil stocks were fairly active, but gains were moderate when com pared with those made by the two lead ers, international Petroleum sold at U 1 22' to 224. Sinclair Gulf at :3.i to - ? 26 and Cosilpn at 7'i to 7si. I flitted Motors continued to reded ab sorption by the General Motors Com- 1 pany and sold at 41'i and 41i. Key stone Tire was traded in at 60'.J to 61'.. Stvlft International was one of the strongest features, adtar.clug from 47 to 48 'j. Ubby, McN'eil k Ubby sold at 23 to 23 '.j. ' Submarine Boat, m which there has been quiet accumulation, after opening at 12 advanced to II',. Wright-Martin j was Arm, selling at 3e, and 3, and Aetna Kxplnsives sold at 7" and 7'i. General Asphalt, preferred, sold at 105 !a to 108. -l'.j Aetna Explosives Am Brit Jlfg . . . 1 Am Marconi .... Am Writing Paper Air Reduction . 1 Canadian. Car Co. IVIIUSTKIALH Mill 5U . 25 .lji, 1 Con Car & Fdy pfd. 70 .e ort 7ew 58, CR.-4 . -1' l' I tiiaruutit iron bu, Cheviolet Motors . 168 Cramp 75 Cuitlss Aeroplane ... 11 carwen 'loot a Carbon Steel 00 Dmerson Phonograph. 2'i Lake Torp Boat ... ' Lehigh Coal Sales ... 82 Limit Loco .... .28 Maxim Munitions .... i N Y Shipbuilding ... 34 Xor Amer Pap Pulp.. 3i Otis Elevator 63 Peerless Motor ... 19 Poole Dnglnrering. . .. 20 Scripps-Booth 15 Htunmird Jiotors iiraiifl!iMH!:iii:iii!;iiiiiii!iiiiiiii!i!:;iiii!iriiii!:i:!!!iii.iiiiii;iiiiiTiarji!j Investment I Suggestions i We have just prepared a cir- 6 cuiar listing 'J.i attractive bona g 'offerings, including: J 37 Municipals S 14 Railroads 19 Public Utilities 5 Industrials 3 8 Foreign g 10 Short Term g j The rate, maturity, price and m yield 01 these bonds are in- g dlcated as well as their tax- exempt features. Many of the J bonds are legal investments for H 'Savings Banks and Trust J Funds. m Deiiiand Active and More Strength in Cables and Liver Than Sufficient to Take Care pool Buying Force Prices of-Offers on Drops Up 65 to 90 Points Ini Mer Mar I do pref .... , Intl l'aper . . do pref sla Ini Nickel . . . Kan City So. uen .Mot ucu r.lt.MV IIKI.T MKATIIKU UlKKTWr ChUuco. 1I. 20 UHiiol II11I11 tir nnv north, mln koutli lontjht .tin! liroli iihtv Kr)i1.i. VHHurl t'nsetllnl with ruin or notv tonleht nml In eat rrldiij . roluVr. VV lronlii snow lonlnht anil In ast anil south I'rlil.i). nut ninrli rh.ine In If m- lllnnesotn I'nrttle,l lonkht nml I rl iluy with nn mt anil Miulh lonlht nnu In soiithnit lljr. eoldrr. Inu 1 I nsrtllnl nlth no toiilxhl nnd North ll.ikiitil 1 ulr lonllht mill 1 rlilat I n,,Smr.tl,,"l5knU-Ktt!r tunUht and rrl.lar. 0!".'r,..Ui ln-tttr.1 tont.ht ami rrl il.it nlth Miott etrrnir e.mtl rolder lu- "''.Vions l-nsrlllrd toninht with now Vlontiimt nn'l Hjoiiilns lair tonlcnt nml 1'rlclii). t'hirngo, Keb. 20. Unsettled weather. with nredlctions of rain; reports 01 111 (OTTON 1I1XT VVUVTIIKK C'UMIITIDNS Nftv York. l'rh. 20. The fnlloulnc tem lieriilurrs wrre rrrordnl In the totton llt IhK ninrninffi Wlllnlnclon 3ii Knott lllr. ,1fl Okln honm f'ltr, Kort hndth nml AtUutii, 42t nurli-Klon. AllKllktn. Nnnhtlllr, Mont cumorr. VlpmiihU nml Utile Kork, 4lt sntnnnuh. 4(li TI10111 itlllc. (K, shmrisirt nml sun .Vnlonlo. .vo, Vlrk.lmrc unit Cor liiis IhrUll. .14t (inltrHlnn. AKi 4nrkmin vllh; nnd rn Orlrnns. 6J Tnimm. HI. rr tins .01 Inrh nf nrrvlnltatlnn ut Alillrne, .114 nl ('ormis ChrUtl. .Ill nl Thniiiuntllle unci Monlmtnrrj-. ,-H n Sun Anloiilu. .14 nl No.,' Orlrnnn. .:il n Irks "."" ."".'! 'T1. ,""h. "t (iHltrMnn. .48 at Vtrmiillls ,r3 nt Oklnhnmii tltt, .74 ut l.lttle Knrk nml 1.00 nt Shrrvepiirt. 24'- 102, 45 V 60 26i, 17., 86 Steel Allots Submnrlnc ... . . St Joseph Lead 8 5 13'i 10'i Yfat. rlnsi ASK VA Hi 3 55 35 80 it!'- 85 12 6 05 2i 2',i 36 32 37 '' 4 65 20 40 30 0 8 14 11 105 T.OW 65 7!a 110 S8i 16 1 71 105 28 s!l' 70 G5'i Ntt Cloie cage. Hi '.4 76 !i J4 110 3j UB-i High 23 Am It pf. tio'4 400 Bald Loo 76 100 Cam Htl.110 BOOMlec Htor 60ii lOOHrle .,., 16 3158 Gen Asph 73U 1002 do prcf.108 35 InsC.N'A 28 'i C240Lk .up a SI', 84Ih Nuv. 70 utii.envai.. 55' DO'i 66ii t- ; 7Mlnehlll.. 61'i 6li 51.j -r- Vi 422PennaIlll 44Ti 44, 44Ti .U 10U H 71 i 06 14 106 28'i 20 , 70 55'i .1.1 In 31'i 25 J, 234 0U 81 4 3 (a 38 71J4 Hl4 70 i SG'i 60 4 38 i. 100 1'hlla Co. 34 3 docum pr 35 200 Phlla i:icc 25 3 1050 P llTto 267, 60 Ph Tract. 60 ' 60 Reading.. 81' 100 Ton Bel.. 3a 191 Un Tract 38 a 163 V G 1... 72 128U S Steel 04 25 W Cramp 76 1I0MS HUH Ixitv J1000 Am(lns& Klec 5s. 8C' 3000 i:i & Poo Tr 4s.. 70 70 SOOOKqult 111 Gas Cs. 10114 lOl'j 101b 3000 Lake Sup lnc 6s.. 63 63 63 2000 Leh Val Coal 58.100 100 100 2000 do 6s..l01 101'i 101" 3C00 Lib Bonds 4th 4 Us 04.28 50 do 2d 4s 02.60 8000 Pa Co tern cts iY3B 06 1000 PhCocon 1st 5s stpd,...100'i 2000 Phlla '-lee 1st 5s.. 933 2000 Phlla B& Vv 4g.. 95'j 12000 Vn lltty Inv 6s, 66 34, Tt 36 1 25?, ,4- H 03 .1 76 i 1U Net Cloi ensc. 86 u "; 70 U 93.90 94.28 92.60 92.60 96 96 100'i 100U 93i 93 95 '..j 95 '.i 60 'I CG', .20 PHILA. INACTIVE STOCKS l'ollOwlnGr urn nuntntlnna fnr inactive (s.j.10) I stocks listed In the Philadelphia Stock . : wt"iBo uiiu in- which inero cm .. 'transactions today. The price given is l1. si the last previous sale: Amer Stores. 28 Little SChuyl. 4S Alliance Ins . 20 Mlnehlll ' Am Milling . 1014 Norrlstown .. 17 A G 'war ... 7iA North Penna. 94 Buff & Sus pf 50 North Cen .. 73',i i-amuna Iron. 74 Cen Pas Itys.109 Con Trac N J 61? Corn lix N 11.345 K Pcnn n Jt. bu Klre Asso ,.285 Frth St Nt B.310 Hunt & II T. 10 iiuni& u T pf 19 1. I Ji4 Great Nor pref 93 do Ore subs. 40 Haskell & Bar 42; Int Agrl pr. . . , 58 ? Insulr Cop.... 44', Inter-Cons Cor 6 iln ltref 5G Kelly Sprlngfd. 98 Kennccott Cop. 20 Lack Steel ... C6, , Lehigh Valley. 55 li Lee Hub & Tire 25 t ' Llg& M TCpf.109 I Loo-e-W Bis C. 42 Mackay Co pr G4 i I Max Motor .. 31 -I I Max Mot 1st pr 57 1 Max Mot 2d pr 24 May Pep Stores 63 'Mex Petrol ISO"; j Miami Con Cpr 22 i .viuivaio steel i'k .2'i IM'fe h ' 'Vr,-" .'r?, St Joseph Lead ...... 10'i iS i" S ' Todd Shipbuilding... 102 ":, T-,. iriangie l'lim 'i a, .. -t.ij ', United Profit Sharing W, H, .. ' " .- C S Steamship 3k; 3i 3 J: T - United Motors 41i 41', ll'i ,J, r World Klhn '4 . . 'J 39J, - U Wrlght.Martln Air .. 3 3 3i ri, I M'.t.N Altll Oil. Illinois Ohio Prairie Pipe is ti in 72 S O N J 688 S O N Y 332 ....153 323 263 168 327 270 273 633 33C 330 INDKrEMin.VT All. STOCKS New York, Keb 20 The feature of the cotton market this morning was the Minn & St Lo n lOTi strength of the Liverpool cables, ac- ' companied by active Liverpool buying, causing .1 Jump of 65 to 30 points In ' 21? 53 Send for o complimentary copy of this circular, No. LSI. A. B. Leach & Co., Inc. 115 South Fourth Street ffiiniHimniiiiFiiiiiiiiiiiiiiniaiiiiiiiiiiigp ...... i . .., . creased feeding demands for tne gram ,". pns. In the Southwest; a continued light' The market was also influenced by . 1 . .UnlAtarl lif'ai'l Yam l 1 r 1 . .. movement from me coumrj , ui' -" "wm uujmjj, dui at tne BOND SALESMAN W dMlrr to nbtutrt the art-Tire nt m trained 1emnn for rhlladcl phlft. Munt be hlub rrade man und rood distributor. '.HARPER & TURNER , INVESTMENT BANKERS '1000-1012 Stock Exchange Build. nr (' Philadelphia L- I LIBERTY BONDS BOUGHT and SOLD r A117 Denominations Samuel K. Phillips & Co. y- 807 CHESTNUT ST. Hasira Philadelphia Stock Exrbaat I m stocks and expectations of freer ocean 3 1 tonnage brought about a strong tone In 1 ' tho corn market today, w 1th a good deal of excitement at the outset. ! Sentiment was bullish and. notwith standing the fact that there was con siderable profit-takinH on the bulges; the demand was active Mid more than suf ficient to take care of the offerings on all drops. For Instance, one house told 500.000 bushels nnd It was digested readily. Oats were strong In sympathy with corn and on nddltloimr talk of an In quiry for eport at tho seaboard from neutral countries. The volume of business was not largo and It was local In character. Pit shorts were the principal buyers. There were no foreign bids here and there was no domestic demand. Receipts remained light. I.radicK futuri" ranired as follows ,'nrn lf.u ,if.li .rvl Open. HlHh Low Clni cloe May . . 1 21V l.-Jl. 1.21'i 1.24'i 1.2ii' July 1.1H. l.iti', 1 17', 1.1. 1.10. 1 Oats Mm r.t)'. W. rai m'. r i..iv. r.M ' r.n Bpruea 158 rue. 392 Jnreitnicnt Booklet "The' Motor Car Indutrry" S PAINE, WEBBER & CO. t,1 LAND TITLE nr.DO.. TIIILA . OH 1 .!, nl m .2- r.n Jul . .23 BO Ilibs ,, May . 22.4S July . . 21.43 Pork May -MOO 11, lv .37.1111 nid. TAked. Test. &7. 5SVl t37'4 peak of the advance met Wall street nnd local realizing, which produced moderate setbacks, although, after the call, the market was still active, but Missouri Pac, do pref . Mont Power. . Na Con & Table 13',j National Ills. 115 Na Knal & Sipd 30'j National Lead C73, Nn It H ofMfcx 2d pr . . 0', Nevada Con C. 16 3, New O Tex & Jt 31 '3 N T Air Drake. ini N y Centrnl . . 74 N y C & St I. 28 N Y N H & II 27 Ti I6V3 1133, 50 V, 07 4. i? Harnett Oil & Gas. tj ' Cosdcn Oil 4-Hi fnsden & Co -r u Klk Basin 1 I Federal Oil 4. "i Inter Petrol J 1" 'Houston Oil Merrltt Oil Midwest Ilellning ... Met I'etrol Ohio Fuel Oklahoma Itcf Sapulpa Ilef Sequoyah Sinclair Island Ulcnrock 11 7'i . 6 , 3 . 22 U 85'5 . 21 i ,153 3U 16 . 7U 'j 25 8 3.?. .MINING STOCKS 3i 'i 6U 3H 22 86 Vi 2414 160 3'i 18 ' 26 8i 7',i ''; 3'i 80 24 'i 157 3,', 7?i Key Tei .... 11 Key Tel pf . . CO Leh Val Tran 20 Leh V T pfd. 25 Lit Bros .... 40 lnn Vat BIC war 277 Penna Traf . 2 nhlln 151 tv VV Phlla& West. 6 P II T 25 Iltvvs Gen .. 3 Uu Cos N I.l6 Upltyslnpf. 14 Un Pass nys.160 Welsbach ... 41J4 W Jer&b .... 44 U York ritvy .. li York ny pr.. 31 V4 New York Bonds mail 32000 Alas C. Cs Sr A 22 Iotv 32 ai fln.n 32i 5000 Am A deb 5s. 102 U 102 U 102 hi Okla P & P.. . . Ohio Gas .... do rts Ohio Fl Sup. . Pacific Mall . . Pan-Am Pet . . do pref IVnna It It nervous, at a net ndvance of nbout 65 ' ,' rtn, Pac Points with spot houses fair buyer-. The Initial ndtance to 22.40c for May, or 97 points from last night's close and 135 points from the low level of yester day, met a good deal ot realizing. nn,r? "aH "Iw liquidation by old longs lVo Gas A: C 7e Vc."re reactions of seme 30 to , ''"na to . . si'i 45 polnta from the best. Liverpool con- I'v" & w,st s61 tlnued to buy, however do nr,,f 80 "e!ni!H,Wre we" ""-orbed on the i:!""-Ol!'0,' ' i n,, r.i . I reed Steel f 68 U one or the private cables attributed Pullman Pal 0.113', the advance to trade buying and said Ry ! l'rg. 71, tne market looked much higher. I Hay Con Cop.. 20'i The receipts at the ports for the day liead.ln?r V 1 'Si aie estlmatitl at 12,000 bales, compared nc!' Ir SS,ecl-,n? VWU, 13,436 bales a vveek agoS luS-fn'mch il'SJu baits a y car ago, and 10.738 bales tun Knvon mmAV; inaJ ytars ago. . st i,..San Frjn. 127. Atlanta . Dig Ledge r,i ai Butto New York.. IBs' u,Con Ariz 3414 1(4 C F S & Jerome... 1 nou u first National .i',,' -,7 Goldficld Merger... xi J .Goldfleld Cnns 7,-3, 1 I Goldfleld Florence. Ji ' 'Ooldlleld kewnnas... 4 B3 " .Green Monster ?i Ilecla Mining 4'i 1 "i 1?. 5 20 12 .Howe Sound. . I Independence Lead. Jerome Verde 3?i iU "4 41 Vj 'i 17Sj ' 47 4-1? 21.85 23.U0 22.53 -1.50 40. fl. 38.50 21 50 -'3.77 22.45 21 40 40 110 ?7.0U 24. S3 21.35 23 110 '21.30 22 0 21. HO , Vent. Toilaj's 10:30 11:30 1:30 2 flu M-rrh .s-S-io ". ATa !? .!' .21 43 22.25 I.llt il',18 '2,ai Ji S', .'.. iA "-', '"' -'1.30 21.31 21 t" .l'.-,.-l!i ftn ,, nn .,. tu ... .. .... ..r r1 '' January Iimm. T.S5 iaiA, JrH 1 iU:J5 9H 12 .VlllV Julv . . H lobcr do nrcf 24 V, Seaboard Air L 7's S'-nrs-Koehuck. 173 Shattuck Ariz.. 10i S!os-S S & Ir 504 Sinclair OIL... 37'4 35A 36W - Southern Pac, .102 101 102 H T.2 Jim Butler Trl" I Jumbo Intension ... 1 McKlnley Da reach . j Magma Copper . . . . 1 Mother Ide , J" I Nevada Hilts ? 'Nevada Wonder ... Niplwlng , Ohio Copper Hay Hercules S.tn Toy Tonopali Intension I nlted Verde 1 Wtst i:nd Con White Caps -r - 1 eringiou ", BONUS Ti,, 'Bethlehem 7s (notes). 101 1 i" cosuen oil 68 . . . . " ' Cosden & Co 6s.... V, Cudahy 7s 21" s Russian Govt 5 'is . i? 1 llussian Govt 0H. 12 rtouiiiern it.ty o. ai , 37 12 45 26 28 3 70 8i J 30'" 4 4U H 6 1,', 4?; 4 3 i 40 14 48 28 30 ' l 30 0 s 3H?i iiu 20 15 ' 6 "if. 14 101 Vi 03 a Sinclair Oil Vs SO . 00 .101 U 102 . 6S 60 . 05 ',a 67 . 00 00', 85 1',; 11 '.& C7 ft 40 05 3S.50 30.65 37 30 I Southern It U. do pref. . . Studehaker. . . Stutz Motors., 27i 68 56 U 44 Financial Briefs FINANCIAL PUIdend, P OFKIPK OF ' THE C. II. OEIST COMPANY Ijind Tit la Dlitc. ' rhlladelplila, Pa Feb. II), 1019. The directors nf Wllminirtnn rio- ,-.. pany bav Ihii day declared a regular aeml- The New York Air Brake Company has Issued Its annual report for the year ended December 31, showing net proilts , alter charges to S20.5 000,000 caplt net yruitin ui .,o,o-w, v io.?i u. . flctoher share earned In 101,. Downs bid Collon Bujers am Sellers tru Vi, -.rl'' Fen- 20- March Cone. Bussell bid j Peers. Bartlett. McFadden ' S?" Steel.... 3CV, Wachsman and Fllnn offered, '" , Stromberg Car 40 .viay oeer. Sellar. Cone, Mcnany liexnf' lac",Xi.; Young. Carpenter. Wade and Mltchel Texas Co 104', bid: Watkltis. Schlll, Orvl". nirdan ri1 A-n,n "S Held. Wenman. Allen. Geran. Nettmnn Tobacco Prods. 004 fllnn and CI. Gumoens nffnrl I do pref. lOS 51U 42H 34 30 3S 102 18 83&i u 1 'i Julv "vleff.r. nmm. Til.-.!., .-,.,... I'nion Pa .130V. or -2.052.5a3. equivalent Wnchsman iitl. , ''-"i- United Alloy S 40'i snare earneu on tne io.. ,len Wm 1 ,i..' V vr" !" , l'n.i riirnr taig4ii 5J ..U; M.C0?J.'??.Y1 ' ToksWalklnslrnd,n6rv:s0nofr;VeFure,1 ll" pWt 'pr MH Mnnamaiin T.'l.ef- .ll n ItV lnV'eSt 11 1 : Itnaaell n-fr-.l : i Todd Shiptulldlng 6S.104 103 BANK OF ENGLAND STATEMENT London, Feb. 20. The weekly state ment of thu Bank of Kngland follows: Total reserve. f30,652.O0O. Increase 416,000: circulation, 60,567.000. .de crease, 265,000; bullion, (81 760,000. In crease. 150,000; other securities, 84, 147,000. Increase 850,000; other de posits, 118,333,000. decrease 11,172.000; public deposits', 30 680,000 Increase, 2,522.000; government securities, 62, 231,000, decrease 145.000. The propor tion of the bank's reserve to liabilities Is I notv 20.60 per cent, agakist 20.10 per cent last wcfit. " tHnnpares witn a ae Money Is not In free sunnly In Pitts burgh banks, and It' Is reported that i sUDscnptioni to me uniica mates ireas-' annual dividend of three per rent (is per ury certificates are not up to expecta tion) on the preferred stock of the com. tions pajr outatandlnc payabla Marrh 1, 1910, to i ' hnldara of laid atock of record at the cloaa - . ... , . j . . ef.bmlneae February 10. 10l. nooks will In vlew ot tlle widespread onslaught baleloaed from February 21. 1019. at 3 against Investors made by numerous o'clock, p m.. to March 1. loin, at 10 o'clock concern? which have no affiliation with a. ,m. Checks will ba mailed. the Stock Exchange and many of which . I v. ... ,, oMt, , nre not unown to me community, and . "ntri u r j . Liverpool Cotton I.lterpnnl, Feb. 20 Spot cotton iiulet today, with prices easy on oasis or a decline of 11 points for mi,i. IT S steel H11..- .,J . . - . . - . . ' -- -- - - ...- """" "'" t-ontract, at n.wia. The sales oo pret liiti w3000 ba,ea- Tll receipts were '''tun CoppAr. ,. 8 16,000 bales. Including 14,900 bales! vv Car Chem 64 American. I-'utures were steadv In ilm Vulcan Det pf 45 early dealings. Spot prices' were" Wabash 8',i Un U Invest pr 23 U L a C I I I- O IK V S Itealtv... 25 l' S rtubber . . 78 i do 1st pref. .110V, was L' H Sro Ai Hef 46ti thai do nref 46T4 sij llOVi HO',4 4 5 , 4 li 464 40 03U 03; 114 114V, 68 "i 66 Nib, . 11 5-f? A. i' cllno Trom 1.'J Per cent to IS. 02 per Iii -lis cnt In this week last year. The clear- r. ill Ings through tho London bankB for the "f T i week were 453,140,000, ngalnst 463.. .7 i yiw.uuu ino vtmv aim au,Dtu,uvu in ?'tl.!u u-ofk Inst Vf-HT -.?""" - i .to saricr. of nivinF.Nie ajax nrmiK CMtFANY. Inc.. SSO W.t Slth Ninet. t ,r- r 1t Dlreclor have tlil dv dclar-1 l.AO) per share, payable Murrh 15 nmrncan. niinriiinD fi.ii- mi an a i fin nrer a.. .1- because pt tne luivantages Deing tauen , middling, 1812d; middling. 17 tin. T. ' Well" Fargo Kx 62',j "!!. .-.-!?!-JKHSW-J,11.8??,"1-1 middling. 16.44d:" good ordinary, li.a?, M- Maryl'd, Jfl governora vi mo . muwuiuia ,-,i.utiv i.a. anu ordinary. 14.30d west rac prei. us rhiince at Its meeting lato yesterday . tv.ai t'ninn Tel 88 fj ' k.w Yo"ru. Lviiruarv 11 ,nf'. i afternoon authorized a special committee SUmi 1 to make a campaign to protect Investors. Nvy yoRK COFFEE MARKET Wstlnghpe M.. 43-, Wlieel or I. li.. ' tj rttiuin iia-k "0 (.ilia u-tv n'riaran u rl dividend ot One Dollar and llftr fll.AOl tier ahara. navahla tli.h ir ?"5J5.K .i'c.nrJ, " c"" ot 1-41.000 from the banks vesterday. mall btuarT Veusteh. Tre..r.,. i lng a cash net gain since l'rlday of The New York Subtreasury gained -5,621.000. AVhlte Jlotors.. 52 hi 52 Wll'yn Dverld. 26 ., 25 V, do pref ... , 911. 91 Vi .1 rirttt ua inn iiijahii nr nr. i . . -., !-.. i. .,.-- A., of Lit Brothers' Corporation wa. - -" "'.'""'i'ft ."? " .i- ,.,,..Zl... January IT. 18IB. wHtn a aemtin. ' Ior meiiiueraiui, hi iu ','," "p " KldanJ of An nnd an extra dividend Stock l'xchange: Edward M. Hamlin. i vraa aeciaren 10 an atcirKnoinera of , of Boston, wno purcnasea seat oi -aui Jury rTt l"19- ...l'.'hla on ! M. Woll : Edward T. Mover to w horn will .a im.ii . vto. .. i.rRDR An 1,7 tt n t i.awa rjr 30. 1910. Checks will be mailed. , be transferred his father's membership, - ' and FrederiCK A Department has Issued July .. JJ.ss Annnal Slaetlnaa Offlca of SNBBICIHT TO-irANV and Frederick A. Henry. The Treasury New York. Feb, 20. There was much more activity at the opening ot the corree market this morning, and first Wilson Co prices showed advances of from 20 to 25 , do pref 98 98 points. Worth P & M. 54 63 I.ocal offerings were readily absorbed do pref B... 66'a 66 by buying believed to be for European I account, nnd the market shotted a very I ,v. .n,i,i.a atudebaver .,t'"llfi;nSna,tl?.r anL'nIDeC',mber ment'oVe". " 1 V, .8t"df """" ' at 13.62c on the opening advance, or back to within 8 points of laat i.-h.i-,,.-,, ' high level. . ! Teiterdai's Toda cioea .May 14.SO GERMAN BANK STATEMENT Berlin, t! London, Feb. 20. The statement or tne imperiil Bank of Ger many for the week ending February 7 shown the followinir chnnKi-s! Totnl coin and bullion decreased 1,527,000 marks; gold decreased 1,665.000; treasury notes Increased 28.805.000 ; notes of other banks increased i.jitj.noo; lillls dlx tounted decreased 1,068.178,000 ; ad vances decrrns"d 1,230,000; Investments decreaseti doo.uuu nrnwil 2.06 000 lnrreased 18.031,000 1.132.942.000; other liabilities Increased 75.517,000; total gold holdings 2,252, 150,000 marks. 07 Vj 'JiMi 80V 01 Ti 102 ',3 91 87, 82 ti 82 tj 81 '3 83 la 101t 07 97" 96 78"i' 86 01 'i 35 78 00 "i 47 U 40 601 105 ft 08 43 09 70 H 07, ", 004 80 , 01 Ta 102 01 37000 Amrlo-Frclt 6s 07, 40000 Am For Sec 5s 99 12000 Amer Smelt 6s 891i 3000 Am T & T 5s 01 "i 10O00 do 6s 103 3000 Am Writ I' 6s Ol'i 2000Arm'r Co 4s 87?, 8000 Atchison 4s .. 82 Vb 3000 B & O 3Us... 02'., 1000 do 5s 77 6000 do 4s 77 'i 8000 Beth Stl 5s '36 81 Vi 1000 Brk Ilpd Trn 7s 86 3000 Bordeaux 6s . .10li 6000 Can Govt 1026 07 5000 do 1931 .... 97 1000 Cen Leath 5s. 96 6000 Chs & O cv 4 Vis 78 Vs 4000 do cv 5s,... 86 6000 Chi Ot W 4s. 61 Ti 20000 Chi B & Q 4s. 054 21000 Chi Mil & St P 2000 do cv I Vis... 78 7000 Col & Sou 4 Vis 78 131000 Cy of Paris 6c.l00; 3000 Erie cv 4a Ser B 47 V2 10000 do Ser Ti... 49 M, 4000 do 4a 66', 12000 Fch Hep 54s.l05t, 8000 Gen Elec 5s.. 98 02000 Inter Met 4Vi 43; 56000 Inter M M 6s 09 Vi 16000 Inter Agr 5s 80 110 Leh V rets 6s.l01"l 101 101", 4000 Llg & M T 78.113 112H 113 I 1482000 Lib Bd 3Vis. 38.18 08.24 08.36 253000 do cv 4s ... 03.00 92.76 92.90 48000 do 1st 4S ... 02.96 92.82 92.96 1892000 do 4Vs . .. 05.98 95.60 95.74 64UOU HO 1st U.S.. 'JD.IZ 9D.UU UU.l 818000 do 2d 4 Vis. . 94.38 3943000 do 4th 4 '.is. 94.30 82 Vi 82 V4 77 77 'i 81 Vi 85 H 101i 97 97 Ti 06 78 i 86 61Vj 054 78 78 9'.'; 411 40 66'.. 105ft 08 43 "i 39 80 SESSION ON THE LOCAL 'CHANGE General Asphalt and. Lake Superior Lead, With the Former Selling at Highest Price's in Their History. Bonds Are in Demand i Active trading characterized today's session on the Philadelphia Stock fc.xcb.ange. Tho opening was strong, and In tho first twenty minutes more shares had changed hands than have been sold In a whole day's trading luring the early part of the month. The Asphalts were sold nt tho highest prices In their hUtory and were frely taken on the advance. In recent trading General Asphalt common has advanced relatively faster than the preferred. This has brought an exerclso of the conversion privl lege. As the preferred pays a dividend of C per cent, with little prospect of a dividend on the common this year, the conversion Is being made on the possibility of the common selling higher In view of the privilege than does the preferred. ., Duylng of Lake Superior was described as "good," and It led In the mat ter of sales, there being a turnover of something more than 4000 shares. It failed to make as sen&ational an advance as did the Asphalt shares. A report was circulated during the day of a prospective retirement of S3,800.000 pur chase money bonds of the Algoma Steel Corporation, owned by the Lake Su perlor Corporation, and a like action as to ?5,294,00O first mortgage bonds ot the latter corporation. Outside the operations In Asphalt and Lake Superior, there was little of Interest in the market, although good strength was displayed throughout the list. A feature of the morning was a sale of a block of 1200 shares'V Phlla dclphla Rapid Transit at 25'4, up iB. Bonds also tvere active, without any specially Interesting feature. Lib erty Issues held about steady. A sale of $10,000 United Railways Investment 5s were tip . at 66. a a The first exchange of General Asphalt preferred Into common stock, under the conversion privilege, has been exercised, the holder receiving $96,460 per value common. In this connection the stock exchange gives tho following notice: The stock list committee has admitted to tho regular list of the Philadel phia Stock Exchange 190.450 additional common stock of the General Asphalt Company, Issued In exchange for $64,300 preferred stock of tho company, surrendered and canceled in accordance with agreement dated May 19, 1908, providing for oxchango of the company for common stock on tho basis of $150 of common stock for each $100 of preferred stock surrendered. This Is part of a total of $19,710,000 of common stock applied for In the application of the General Asphalt Company dated February 18, 1919, to be listed upon official notice of tho Issuance in exchange for $13,140,000 paid stock outstanding. Thla makes tho total amount of common stock listed at this date $3,358,450 and reduces the amount of preferred stock listed at this date to $13,075,700. DIVIDENDS DECLARED Tobacco Products Corporatlrn, quarterly '.Hi rer ent en rriferreil, payable April 1 to atock ot iccord March 14. United Htatea Ujpsum Company, auar ''rly of 1 nr cent on preferred, pajable March 31 to iftock of record March 13. VS.?,V ork Air Jlrnke Company, quarterly -3 per cent, payuoie .Marcn -1 lo sloe 4 ny. a dlttd-nd of . on.,, un ,'inriiru, UJUUIH ..IHn.1) 1. reuiatrred Kehruarv 'jl iiaau. .! l'ebruary 21. open March 1. Cambria Steel Company, dividends for tha quarter of 14 per cent r;uur and 1V4 pr cent extra, payutilo March 13 to atuck of record Ktbruari 2H National Lead Company, quarterly of l'i per cent on common, payable Murt.li 81 to stock of record March 14, Matkuy Companies, quarterly of l'a per cent on common nnd quarterly of 1 per cent on pr ferred. payuble April 1 to stock ot record March M. of of record Marr, 13 VV'llmlnsto', Oaa Company, dure on .ireierrea. Farms' Loans in January WnahlnEtnn, K-b. 20. During the month of Jnnuary, $11,310,920 were i',d to 'xao farmers of the L'nlted States by the Federal Land banks on long-time flrtt mortgog's, accoidlng to the monthly statement of tlio farm loan board. The Federal Land Bank of Houston lends in amount of loans closed, $2,220,770. with the Federal Land Bank of t.1. Paul running sllgutly be hind In amount, $1,586,500, LOCAL MINING STOCKS TO.SOPAH STOCKS Bid .lim llutler MacXumara .... Midway Jll'Pah Ettemioit Montana , . Nortli Star . . . Iteacue Eula . . , West End Atlanta. lllus Bull . . Booth Dlumf II n Crockerjack Unlay Kcwanai . . . Oro Spearhead . , Sliver Pick .All .23 .2H .00 .17 .07 .OS ir OOLDI'IELD STOCKS 04 02 .15 .02 .OH o.' ' I .11", .01 .111 i.OO MISCELLANEOUS Arizona United i 2j Nevada Wonder .70 Tecopa Mtuina- 13 GOVERNMENT BONDS Ask ,3b .80 .32 .07 .10 .08 .10 1U ,0 .03 .17 .03 .011 .01 .07 .03 .20 .07 .28 .75 .15 CHICAGO BUTTER AND EGGS Panama coupon ! Panama registered : Closing- inn . D7 . 117 Chlm-o, Feb. 20 lltlTTER llerelpta. flOOl tllha Kvtrnr. "'Jp. flrnfa. 4 ft Iffi .. 1 ,v nnns Hereipta. 2003 baaes. Extras, 30c: I'll S flov reuletercrt 4i. ltiss. .104U first'. 3SB3SISC. I Dll of Columbia 8.23, 1023.. 07 103il.. .. L'. 1030.. t'.tnitma couron z. Ulan...... VT Panama registered 2a 1038.. 07 I'.inama coupon Ha, 1061 S7 Panama reslatcred 3a, 1061. S7 l'hl.tpplne 4a, 1DX4 (in Philippine 4. IB.I.'i no Philippine 4a. 11180. ......... bn IT H Unv couiion 2j. 103ll..., Il7lj V H Gov reirlatereil 2a 11)30... 117!-! I H Got' coupon 3a, 1040 SO 17 P Oov rCBla'ered 3a. 11140... M) I' S Oov coupon 4a. 1023 ,.104'i Asked OS', isH 02 92 06 HA 80 OSU CSVi 02 02 lnr.'i ioivJ 100 94.1 94.10 94.36 94.24 1000 Lyons 6s 1011 101i 101 y 1 Marseilles 6s..l0iai 10ia4 1014 864 92 75 08 (i 06 01 97 8000 3000 Mldvnle 5s .. 86Ts 10000 Mont Power 6s 92 H 1000 NYC&II con 4s 73 16000 do 6s 98- 2000 N Y C 4s'61 !I6'3 1000 do 4n 1959. 91 5000 do 4Hs '60. 07 1000 N' Y City 4VSs Nov 1957 ..101U 101 '1 2000 N Y X II 4 H 3.4b 50 3000 N Y Ry 4s .. 44 42000 do 5s 14 s 4000NYTel gn 4'.Jb 91 "j 14000 NYWC&B I'is 51 16000 P gen ct 4 Vis 88V4 42000 Penn en 4'4.,s 05 46000 Penn 5s '68.. 05 60000 Pco OH 6s '24 93 1000 P Marquette 5s 86 3000 Rep Ir & S 5s 05 6000 Sinclair Oil 7. 96'4 2000 StL I M & S 4s 80 'i 2000 Seab A I, aj Cs 48 ?; 93000 Sou 1'ac cv la. Bi 90000 do cv 6s... 3000 do rrd -is. GO'S 43 14'! 01U 61 88-4, 95 i 954 92 , 86 95 96H S0 48 'i 83i 103; 103 U 103 i 81 SI SI 86T4 92 75 98" 9614 91 97 101U 50Vi 43 14 i 91H 51 88H 95. 95T. 93 86 95 96W 80 'i 48H 831 7000 So Rwy Is... ii6 06U 66',i 1000 do 5s 05V!, 9 5 ',5 05 ',i 62000 Third Av ndj 5s 32 Vj 32 32 6000 U K Realty 5s. 68 61 67 6000 U S Rub 7B..103-; 103", 103 i 37000 U S Stl a f 's.ion-i U)0',A lort, 200 Union Pac cv 4s. 87 87 8 6000 U K of G B & I 5'iB 1019.. .100', 100 100'i 61000 U K of O 1) ft I 6V4s 1021.. 98, 089, 984 490000 U K of (1 B & I 6Vs 1027 ..101 100 101 33000 Va 6s Brown Brothers .... 74 71 73VS 5000Wiscon Cent 4s 78 78 78 MONEY-LENDING RATES XEIV YOKK. Money on call, mixed collateral, opened today at 6V4 per cent for lending and renewing, On all In dustrial collateral, the opening rate was 6 ner cent. .... The time money market continues In active, and quotations nre nominal at 5'A06Vi per cent for sixty days to six months on Industrials collateral. There are very few new loans going and vir tually no business on gcod mixed se curities. Mercantile paper is quoted nt an average of 6Vi per cent for choice qual ity, with the less prominent names dls- ii.i, at KXL ner rent. Th... I. an other secu-itle. In "occasional transaction In very short notes In cl'rc ..".Inn high-class material at 5 per cent, but It '.deposits decreased l - exception rather than the rule, ..ui.H.118 oecreaaea .i.t- ri.v u, ....,,,.. nee- Ings cf paper continue to Increase, Trim duiik a.cvrutances nre only itates are uncuang- 06'.i ',4 1 tvi-mai nntloA that uuort BubnoHntlons I ".!". i t. r ITk.-.. T -- ...1 t. ...W p-rjemn utllUlcs Company and thai payments in full ths Bubscrlptlons are jLiirrCior M en' mr uir rniujnaT i fOrieiieu unu luainuiiiriii iaj imciiui iui "Jte.iliiWt-Mltfiervs Banks to the general account .- Tr.-L-r.''ivj-"..?" Heptrmbtr lirremDer January f Druary ARTHUR II. lIlLT.Kn. Hrrtmrv. of the Treasury of tha United States. Up . Aniniat 31. 1918. tha Tr?aaurv atate- ment shows payments on account of prlrt ' clpal of the ftrt loan of $1,989,466,490. li Fleur Ootput Decreases -As the ullotmepLr was. J2tooo.ooo,ooo rt T1iji VnTrMi- t litre Wlia fiv -.,mu in iuubu tpitun tbavMtanilta In default at . 't time, although recordy t-eb. IlliW w.jb 11.0 .Muiiiraiwiia .--, ,hov, What navmenta were ac pff l"Sl..ed9'Cdru"riTl t r-Taliy madori ,hes.ub.crtpt.on-. .'. I-" v)"a. allll.rmrlf aiiisUnt lraasurar BJ. W M' rv' II. W 13.11.1 13 3a ay'a oiwnlni- 14. 4i 13.01 In. H.i I Hll 1.1.33 13.01) Price of Butter Again Soaring (lilrato, Feb 20. Butter Is again soaring In price, selling In thl. market at sixty-three cent, a pound, while a week ago It could be bought at retail for forty-seven cents. The main cause for the sudden rise In price, according lo membtr. of the butter and egg board, Is the recr-it decision of the Allies to ac cept 1.000,000 pound, of American but ter, after a decision not to take It. The contributory Influences 'were ..Id fa ba Ul.h PrlCM ,for milk, lifting food d. ftaMctTalttwt reatrtoUon. nnd IndeoMen Reierve IJanVi' Discount Riles Offlclnl discount rates at the ttvelva May Dpart-- Federal Reserve banks were a. follows; (The first column gives the rates for all periods up to and Including a nrteen. .- . it c i n. 1 ti ! ', day maturity, the second for a period INext U. S. Loan Probably April 21 of sixteen to ninety days. The third vvnalilnclon Feh. 20. Seceinry Glass and fourth column, are the rates for made the flat statement today that the . government bondor notes.) ftWa next popular gtvernment security Issue Com. papr Gov. papr would be Issued most probably April 21 Money raising securities a-II1 be offered for absorption by the nubile, whether Congress decides upon bonds, note, or uny other form. In to no 1A u nr. ir.dl)'s darslSdais data Boaton ...... Nat York .., Phllailelrlila . Cleveland .... Richmond . ' Atlanta- BAR SILVER " IfiffilS..":: Commercial bar sllvr wag quoted In fan Franflaco, New York todav at 11.01', nn ounce. ?, ut'" unchanaed: In London at 48id. a. il. 'Dll. crease of 'id. I i BANK CLEARINGS 4 4 4 r- 4 A. .S ill 4S 6 4 4 ', 4 a e 4 tv lei No Change In RefineJ Sugart w Vir, KeJK, 10. R'flned sugar wra wjrw4 'iM" 2 per eM fer ilrmrt moalraU, Tt.nk ela.tln.a. comnarad with inprHMn4. in dv laM two 3 tar,: - ., s. . lftlu ihia,f i,it .iTi.ssa iM,w,i4K Ha.tilay , murz xi'ia .i-iattww . aat v miiammm moderately active. ed. Call loans on prime bank acceptances stand at 4,i per cent. . PHILAnELPHIA Call, 5!i percent! 'time. BH8 per cent. Commercial paper, thre to .Ix months, 6V5',J per cent; six months, per cent. FOREIGN EXCHANGE w York. Feb. 20. Dullness In the foreign exchange market was unrelieved In the early session today. The only features were a slightly higher figure for Swls. exchange following Wednes dav'B firmness In that class and pesetas. Quotation, were: Demand Bterling 4.76. cables 4.76,,. Sixty-day bills, nominally. 4.73 1-3 J nlnet7-tlay bill. 4.71 Vy, Frano cable. 6.45'i. checks 5.481J. Ktvlss cables 4.86, check. 4.90. Clullder cable. 41. checks 41H. Peseta, cable. 20.28. check. 20.14. sinhholm cable. 28.20. chrrka ? on Chrl.tl.nta cable. 27.40. check. 27.20, CWMHHw.en cKuiea (ti.iv, cnecK. si.inj. i nun ana - iy luauy at'i-iu-n. 4W ,-JWV The New Revenue Act OUR booklet on the new Federal Tax Law is now ready for distribution. This measure, which is' awaiting the signa ture of the President, affects individuals, corporations and partnerships. The booklet, contains the full text of the income tax, excess-profits tax, and other provisions of the new Revenue Act, with explanatory summaries and examples of the application of the law. Copies of this booklet may be obtained on request. ' We have established a service, under the direction of Mr. John G. Herndon, Jr., for the assistance of our customers and others in the preparation of their tax returns as required by the new Revenue Act. You are cordially invited to avail your self of Mr. Hcrndon's services, which are rendered without charge. CLAYTON F. BANKS 421 Chcfnut Street, Philadelphia CJjJI Correspondent Guaranty Trust Company of New York tTaaaama-ttBV EXECUTOB CIMRTr.RKD 1IS TRCSTKB FIDELITY TRUST COMPANY Member Federal Reserve System Capital $5,000,000 Surplus $16,000,000 Main Office: 325-331 Chestnut St 43-53 S. Fourth St Broad Street Office: H. E. Cor. of Broad and Chestnut St. l'ulFlf,. '.I jtA f; i m M r .. jrl 6 i h h S .' 4 m&m vOTfiraT'K. mm ;J11C tif.:m m jwfP' 1H 9r Mt , ' r Ja '" '' t'. "ttWW ' 'k' ' J W. VT- '"''aT'lfM . -x -1-..fr-.. i.ift i'.r I ts s.r -5 LA .. . -dlnJtaB-tW:lti . ..A ' - avfctajfliLak Mari gmfflmWiciiititiMiMMWL&iLAiLi&Mmitei.Lij. LJi-J jET i.. A V '' aah,fcailiaarah j.
Significant historical Pennsylvania newspapers