jVW"t viff-tv" yjSfSPcsr . -,.. -t. -- -eroTsxTCsii --, , '' ,!. , 'je IS- t 1 Ml .& H KVI3XLNG J'UJiUC LEDGiflK 'UILAJ)EL1,U1A, TJIUUSDAY, XOVEiMBER G, l6x$ 20 f9ipsamrafliwfltiwini iui'.. . iwh NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS Wm&ZwmY ,WwrffJ p "I ' 41 i l,rl I-' m I J m hi t, m I IS m F, lft li if L 13 IV VSl UNITED STATES GOVERNMENT LitfLRTY AND VlLiUrtx LOAN BONDS Vv l..y and sell Liberty Louii ami Yictoiy l.oitn Bond'; on commission at current market prices. Denomination ?:.o. si oo. .woo. . toon Edward B. Smith St Co BANKERS - M'USIll.tJ It'O i Hcmbcra Xnr York and 'M!ad.TDhta Stsl6 Exchaigct run m:i rniA 11IL IbtKnut St. new iiwk i:mon vjiw london ali.umovtn INCREASING CROSSCURRENTS MADE WIDE FLUCTUATIONS Grouiiig Tension in Money Market Provoked Heavy Liquidi lion in the Industrial Division Sharp Breaks in Specialties NEW YORK STOCK EXCHANGE TRANSACTIONS it appo.irawc. I. in 11 time however, when tln rcucthiiiiir.v i urn'tit seemed to he New VoiIi. 'ov i!.JIj icnviti of tin .... t .. .1. ..... .......' 11111 i-itiir iii'UK111 '" 1 'i' .ins- ..,!. 1 1 t 1 . I .... 1...1. , siiiik i'i,."ini iniiii, h 1 1 1 -mi .i.i.i.-i ... inn-cuts todays sloek muikot was . Hi,t r tiron-rlli .ns uncovered. riii rwl mill ihe.krd tnr aggressive ness of tin bear imrlj. but also in ooiihtahtT.i kept In !i highly burned iiinilitinn. riiu'luatiolii in Hip Indus i IriiiW, esic.'ial!r in recent active high 'priced pipi Initios. wm wide and violent. 1 Thp rclativp steadiness nt tin rnilroad slock" certd a tnl1li7.iti(; iiillucnec, lueticcd 1 1 11 t .x ti'treat of snmo of tho timri timid A a mutter of fni't. while doing ii great deal of talking, tlip bear part nre anything Imt mip1 of their ground. Much of their promised suc cess is built to a huge extent ill tho nml Ifl tl measure served to keep the I hone of some nrpiiliMil or tho develop Vnerul f f,.(lu, clipping into serious ment- f somp uncrpeoted disturbing deiiKirallxitHoii T,. Slk ,nun ,,,.,,, tll0 .liffeieiii; Tht HitiMil fni'toi , behind Hie violtut perioils uhrii the rPiiPtinnnr.i I'lirrent , htikc ilt.-'U m the ii-liii.ti'iiil division , ran Hip KtroiiRPst liruiiRlit n"l derllne" HnW,W nnipitlonnhly from moucy n'nnu, iniind mitfki'l liilltjewes. Tin' iinexperled lie- ..very mihiaorri nlnpner nui-it admit it 'lion of tlie covernori r.f ,hc Hunk of hn M-oiiderfullj impioved thp tcrlinlcnl ,. ... ., . ,i.i , ,1,- ,ii,,,, I position mid entirely pllmlnnteil thp l.iiRlimd in nmrklns u Hie minimum pnK appretnll.ttlrP; wnlr, for ,, iili'-eomil line from .1 t.. ti per cut. rom- f,,w dnjs hud been menaelns the gen- 1112 11- it did e'.ose on the heeN of tlie ' eral mnrl;et sitiiutlou. riii-iiiS ol ihe I ederal Iteservc llanl; ili-eouni Kite brought the mouey innrkel The renewal rate of 1'J per cent for eall mone. direeteil attention to the Foreign Trade Through Foreign Investment Some logical mison- foi Ameri cans inviting at tljf present time in. Ilritisli (lOMTiinu'iit r,c 11tl11nnl Wnr l.tiiiii Itrilisli (oiniunciii Kf Xli-teri II11111N IJolRiiin Gocrnmvni Vtllloitill lEefcloriltioii I.iiltn uT 11)10 French (tmcrnnicjit .T'r Vlelir I till 11 I'rcncli (Joieniment f'r T.onn ii r I!) 17 Italian (io eminent i'c nr I.nan if IDln italinn Government 5 Tlirer 11 ml vr ritr Trrniir Note urn lontuinfrl In our ImuUIrl t .l A. B. Leach & Co., Inc. 113 South t'ourlli Street fjjL J . rT; III Ull' IMiHllll IMf IU"U'V "il'invt ,.-,., A.wl.,., f t ., ......Ij ....l::....- ..1..C.H tn. li..tn .! fuwt I in Ktlllfc 'VlliPMI M llir lll"n.-j IIHHH' I I ft reomnmmtrcon.d.abieod for ? Jl S ihiniBlil. ,..... Wlul, theie ,MiK no great rtmoiiiit of 1 ,,.,;,.,, srM1ptoms wm. Pvll,,,nt loan uillliis ;t ihe ml uenie ,,f e n ,,,, T,P',,P,nv (.ollinz in.ive tiBhttMiniK of the piirseatrm b K , n(,M ,JH iIovp1110c, , 0 ,nt0 ,,. hanks wns .iitlii'lent to eieale InenMsinR uiii,niiip. and proioke no little lirpiidu tinn ot i.Muevtetuled viieuilatiie uc inniili'. The behnwnr of iiiiie of the input intne Induntrinl speualties. v hn h 111 iiiierviii') threalened In break wide open, with ilerliiie of - to o iiiilniu lietwi-pii Miles, had Kiispieioiii! car- mark- ! the earrjinu out of the ru- Mm llionil polH'.v OI Hie joiiuiiiK lu-siii" tions.ol ilisi-rimiDiitiiiK aguiusl the ImkIiI) nillaled issues us regards 1 "Hut 1 ml aceeptaneex. The reiirtionurx piinj. onij nniu nig esterila wns leMinneil at the open ing with the brunt of the pressure ill ( reeted against the steel, equipment nml allied sliiirc. I'nim this oiisliiught the, general market made 11 vplendid rc rmcry. The entire market lieenme eompara- tivejj dull before the end of the first leahngs tailing lar nemw repent mernges. burlher irregularity soon f set in as a result of lemiwed pressure, leaders foi the most pari Increasing, their earl losses . , , I 'I'l... ....(t1, .t vail, ci.rxetl til Mrin? ' lall.v. who lmp been patientlj awaiting Jmut tempnrary iinptoienieiit, but an tor just surh an opening, ill onee 111 slituted igorou and wulespre.id drJM's against 1 In- entile li-l These drives were I'Ufoiirngcd I ihe "all lusting hope" ot the bear parU in all lean tionuiv iiioeineiiis nl being able to leiieh mid 111110MM "stop loss' mders. b whiih the downward swing is al ,vjs ,n 1 emuated to ill liuliet de vice At 1 1 a I inteiwnls the 1 ntire iti.h ..tlinr nml mure violent reversal ourted befnie 110011 Steels and equip ' nienth weie the rluel features uf the 1 leaetion. Ctueible dropping five points between sales at an extreme loss of 1 fifteen points. delated shares were. . three to ten points under vesterdays final quotation 1 The seeondnrv unoverv was oven 1 moie robust than that following the I nenins dip. and miieli 01 the grounu 1 si.,i;ii inii'ivnis ,ii- .inn, in... ",,.i.,im ..... ... : , , ; ket stiuiiiire had an uin-ointoitahle soft bv early afternoon had been retrieved. STOCKS RECEDE AS OIL GROUP L EADS MONEY RATES USE TRADING CURB VT The Securities You Own .11 Over 500 companies arc described in the Octo ber edition of our "White Book." We will be glad to mail you a copy if you are desirous of securing the latest current sta tistics and financial records. Upon request vc will prepare a special report on any security you may hold or contem plate purchasing. When writing for the "White Book" also ask for our Monthly In stalment Plan Booklet. Both gratuitous. i. '.,r C'ioI. 1 i K IITIUMMAWlRBi niKstment iecuntiei. l 13 Exchange Place New York Potential Rallying Power Mani- Anglo-American Is Unusually fested at Different Intervals Strong and Advances to Despite Pressure I New High Record BURDEN OF THE BANKS GENERAL ASPHALT WEAK New iiiih. Nov. Ii -The .N.vv Yoik New V01I1. Nov. . I'rii e movements Kvemng Mill's , lsing himueial levievv on the Ilroad stieet curb today were Iml,v H-n. liighlv im-giiUr. some stuikst selling al ' V,tl,'e.-,ll nioiiev ruling at still higher "" '(''' reui.ds. while others mis ,.,'s. stand.i.g a.iominod.itiou on ,,. Iniucil ttne- Kinging lrom I to moie mainl uneivmg at !- per . eut for both "'" "' 1"1;- I Tim i.nti,lmim iIi.imi riMilMUUil MIX :iml iiwlimtrinl t ollaU'ittl. the '" .--" . -r - nio-i piontineni, wun m.uiy muu hi urgent ilmiaml at .iiliaui'i1!. Vrodurrvfe 1 ..j-. t.,.,.,,i,i . A,. u c 1, ... ihougli not without interval's in whidi tirtiU(.tion j ,iie Heggi.' Held, with uu 1 potential rall.viug power was manifest, advance to !)"s, a new high record. It was regarded in the financial com- Anglo-American .was an unusually 1 nmnitv as entirely iea-i,able to expect' t-troiig fuiture. being hcavilv traded in ...... A :.:... ...!... .,,...1.1 ,...i,,1l,lv beinnd advaii.itig to ..b't. 11K0 a new high 111:11 ri-niiii. i'im.s '""; - . Ie,.or,l govenu'd by money conditions for per- S,....n. 1 1111X1 d highest lencwal ligiire in several jenrs, tod, iv s toek market was lieavj, al- Rali ton no inn 1(10 sou sou 'eon too too H103 JJOU 101) 100 16100 MO -oo 100 .100 10000 4.80 1100 100 7 '.'icon i; 200 11000 200 4 100 J SSOtl 101) MOO .1701) 100 1700 140(1 ClOII Hill t'400 :ioj ;u mi ;oo 490 :ioo 'J'iflO 400 3800 100 5SO0O (.no ;ooo 5.100 4 700 JIIO no.'on nun :ioo J 01) 600 200 100 100 r.oo MOO .-too 400 !)10 900 .'00 1011 noo 1.VJI)!) oo .-.sou Il'vOO bOrt '0I) 00 1400 soo hOO :ioo 1 300 100 IKOO 400 '00 jno 100 soon too Ji00 ;oo :iio .)() bill) 330(1 i 30PO Hill inn') l.tOJII T'JOU :ioo 1011 7700 Mil oo too 10U0 1000 100 ltlth 3 44U 7'iU 81 xddim tlxnresn Advance Tlumcly . . . Advunco Humcly pf ) AJax Uuli her Alask.i CJold Mltiei Alaska Juneau O M l' ' Allla-Chalmera StfB .. 5 H Am Acrlo Chem .. ..OH in Agrlc Chcm pf 90 H Am Hee.t Sugar . . . . !17 N Am ltosch Mncncto .129? Am Cam i.Sl'j Vm can pf 10? 1 2 13 Am Car & Foundry ..143"i 4 Am Cotton Oil . ... .ll"i m Am liniggit Kvini' . 1o? . . Am Illdo & lathtr . 38'i Am Hide & I.eath Df.lS.I Am lee 47 Am Intermit Corp .... lV0a .. Am Idimeed Co H1a 7 Am Linseed Co pr MJJ m I.ocomotJvo . 107's Vni "ilult & Tiraiu 40 Am Ship i Commerce. 43' 4 m Knielt & Itef . . . M3 J Am Smell & Met pt OS's :t Am steel Foundries . 4.1 7 Am Steel Fdrlen pf Bl1 7 Am .Sugar Hef . . . U1 10 Am Sumatra Tobacco. 104 7 m Sumatra Too pf . 93'i f tm Tel & Tel 9'n JO Am Tobacco . . . .304", 7 Am 'Woolen HI J m Woolen pf . 104 T Am Writing Paper pf GBU Am Zlnu Lead & bin , ".'I 4 Anacoml.i Copper . M3 . ssetB ItealUatlon an sso lry Joods . 54 7b 3 Vssoc'nted Oil Co .. 1US B Atch Tup & Santa. Fe 91 5 tch Top & S F pf. . 7994 10 Atl ttulf & V t S S .13'S Auto fc'ales (' temctfs. 15!1 Il.ikhvm I.oco Wks .143H lUltlmoro & Ohio . 39V3 !i Jl.irretl Co . . . .133 IlJtopll.is Mining 1" lletlilelieiu Motors . :tll! ." iKtlni hem Me.. 103 - Motlil.'hcin Steel 1! 107 s Il.thleliem SU ca pf HSU Uooth FiHlierles 17!i H llrooklju fMlfon Co.. 98 . ltrklyn llapld Transit. 19Ji llkyn It T cifs of rtep. t4 Mrooklyn I'ntou Gas.. 04 10 Huron llros la's Uutto & Superior Cop, 24 1 ,."0 IJutto Copper A. Zinc. H" ' lluitenck Co 37 Caddo Ctntial i .. It. VSVz 4 California P.uklng . .. ,N2 California I'etroleum . .11" 7 (allfornl.i I'etrol pf . 80 ( 'I Calumet . Arizona. . "iVz Hi Canadian Pacific .. l.iOSJ n Central Leather ....107'i 4 f'errn dc Piisivi Cop . 59' 4 Certain-teed Prod c . .17 s Chaiidf-r Motors . I3BIS 4 Clicn.ipe.iUe i th!o .. .IS) Chicago I.,' Western . 10 I Chi Cit Western pf. . 273 Chi Mil & Ht Paul . . 44J, .. Chi Mll.t St P pf .. 4' 7 Chi . Northwestern .. 0l?4 Chi Pneumatic Tool .1124 .. Chi llock IbI Pac 28 Yz Ii Chi It 1 & Pac O'J pf. 64 Chile Copper 21 "sj ;i Ulilno Copper .. . 423 6 Cluett Peabody . .819 3 Colorado Fuel & lion. 4!i 4 Col & Kouth lHt pf . 49 y2 I Col Graphophono .... 7034 1 Col Graphophone pf. . 95 4 Columb Gas & X'lec . 114 4 Comp Tab llecord . . . .1li? .. Consolidated Cigar . 9!s 7 Consolidated Gas . 94" 7 Continental Can . . 94 Continental Candy M7 Contln Candy rts It ." I'ontiiKiitnl InsuraiKc. V! Con Intti state C.il M. 2 Coin Pioduas Itef . . O.t', 12 Crudble Steel C0 . S' 7 Crucible feteel pt . Hl'J'j H) Cubdii-Aintr Sugar . too . Cuba Cane Sugar ... . I.1W " Cuba Cano Sugar pf. M 9 Delaware & Hudson .102 10 Del Lack & Western .1st . Den & Ulo Grande pf. 1G? Fetroit Kdlson Co. . 11.1 Dome Mines I3!i 3 Klk Horn Coal Corp 35 137 300 700 3. .10 Endlcott-Johnson Asphalt was one of the haps a vveeU or more and '"V"0U" 'n, weaker featured, falling fiom loOV to' the traders -o bear persiias loi woul ' , ,, while Oil ranged from . '18 to nuke the most ot the opportunit foi ;,s, - i-Iitl,(1 Ktut0x steamship was .Mending luinnimneiits on the """it' ,,,.,,, s.lUs , ,57, t ,)i... Aetna me i:plo, iv-es sold at P;V l arib Syndicate . This siiuatioti naturally rendered 1,1, n (S, to ,Vi those who have luolilr. alert to realie' Tnnl ( wjs ,, (1j(1 fonP (0 C'onlcw. 11 them on every bulge, and that, ot vhi(1 v ,,s ,,..,,,,,,1 in Ilt 0av lo ,. Rubber Stocks? How docs the price of raw rubber af fect tiro stocks Will ihe nrxt 'swing on ' Rubbers ' be up or down? BABSON'S Speculative Bulletin of October 24th carries a message Of vital importance 10 every one interested In Rubbers". A few copies are available for distribu tion to interested in Tcstors, grata. Report on Requtit Write on your letterhead for copy of this SpecialBulletin and booklet, Ctt ting Ihe Most from Your Monty' ' giv ing full details of the iystem being em ployed w ith remarkable success by ov rr 1100 of the country's ablest unestors, Ath for Bulletin 34-0 Bibjon' Statistical Organization WllsUy Hills, Mass. Largat Qrtanuation ef Its Churccitr in tht World .ins.. 111 events iiinsisieni progress 111 ward, however miieli inherent resilience ilieie liughl have hit'ii. Opinion was divided as lo whether I In 1 e vvete an.v real eleinents of we.ik uiss in the market .it the present rime. The indusiiial position called tor favor- nbl ineiit. but sentiment 011 that s.ine was uftutalizid if not mini' than offset bv the meaning which many lead between the lines in the statement nl , Ami j- ijsMosives the. IVderal lteserve Hank iuere.isng , j;..rJ.,,rl?1Vh "r, the discount rates. The increase. in,.vin.r it.o-u)ni truth, was .mull, but the hint contained Ajjjjr hafrts iu.r , theiein us to what the bank tould do in Atr RMiurtlon 1 he wnv ot 'lll'lllllg stoel. soi'i illlllioil ill , i .?to ,thp tntercfi. of loinnmri'lal ertdil was not lost. In contrast with the softening len deuey of the in"dutrial issues, the rails continued their forward movement be gun vestenlaj. Tin' appreciation was less pionoiinied, however, notwith standing that trading appealed to be broader In that depattment. lluMncss Aineriian Tohafio Sei urities was un der piessme. fulling from "I!1!; to 7ii. . Siibmaiine Unlit sold at IS1,'... Amal gamated I'ire Stores ranged fiom Jt3''i ' to 111",. Allied Packing was tiaded la on .1 small scale at (! to OU1-!-. Anteii- 1 t.MlTKl.l.N Fild . ... i.. . . ......1 ..... as 11 whole was. m mn, m ,n'iii i...; same volume as in luevious session tlii week. Philadelphia Stocks Cities Service com., pfd. & deb. Empire Gas & Fuel 6s, 1924-26 Sun Co. 6s, 1929 Lehigh Power Sec. Stock & Notes Duquesne Lt. 6s, 1949 Cons. Cities Lt., Pow. & Trac. 5s, 1962 Acme Tea 1st pref. United Gas Imp. 6s, 1920 Eric & Jersey 6s, 1955 MECoiwn&Ca. Ctoeast SI04 LJ Title Bids- ,ta" 4M Ti'txo York 7VI. Canal 1CIB ilcmltrt Philadelphia Sloik l.rchnnoi Canadian Chi ( o . . . Can Car & IMv pret.... Carbon htf-el Carvven Ton! ...'.. Chalmers Motors Chevrolet Motors Crimp & honjf .....'.... CurtlBH Apronlano I nmeruon 1 hnnusrapli . . tienerai .VBpnan ... Hall slcn.u .. Hupp Motoli Inter Products Inter Itubber Lake Torpedoboat TehUh I oal foals Llbby McN i. Llbby . , . . . Lima Loco Martin-Parry I.oft In.- Loews '. N V St.lubulMlnl North Amer J'ainr 3'ulp. Peerless Motor Perf-tilon T A. It Philip Morris Poole i;ni.- S.HV..M N T Kavold Ohio Net Mich I toe I I pe rhjie. -.1 Alii Ins. -J'T-j JIS'-j -i''j Vi 1!H) Am Strn. 10' s iHK;, ".O-'s H- 2i I do iif..-!f-,l3 fili'l: '.ds-r-ll'i 7.". Am tins. 41 14 44 1 .'.0 llrill .T Ft t'h ."S ,rj8 -! !) Cam Iron I!!!' . HIH . WIVJ-t- ' 1S14 Kl Stor..l4'.' Illfl 110 11 10 (ien An. It'll lol l''l I .Htfi International 1"(1 iln uf "."i "1111 . ""(I 0 I llelHll canay ... r , "". 7 "tttiT "'IT' 1- Tobacco Products lixp. -0 I I 0 N A o..7s .!th ...Its 'n.ToilJ hhlpbulldins I.-. 1... Tel 11 t. 111. 11 V. 1', Trlanele Kllm ,..... .-.. .. . ' . ...-!.. I ..... LIS 'I'll' 1 I .ii'iru ..lu.uio . .. 1 rVJ rnlleil Profit Sharlna S.i S.1'4.. t H fteamship .... anatnuin nieei .. crtpps-Hooth ...... hell Transport Standard Motors . . . . htetl llojs submarine, uoat . . . . Fo. epis of America. (SP Gl'i4- 11 I Vanadium l.'i ipI? ,? ' World nim 4(i'h WVs ' i I Wright-Marl 70'i 70..-J- 'a I Willys Corp. Preferred Stock . Pays 8 per yoar Price $100 a share i'arllcutart on Ifiutst Carstairs &Co. i MfuiherK I'lilUJetphl.i and 'jfevv Voik riUelr 17xclinije 14l9YHlnut t'reet ilroadivay, is,, x- n s-j 42t; SO'i :u j.'i :i P.sa, Jl'Y3 17 4:i 80'.; ::i !'.'. 'J.s ::f3K. z ;?' -" 177(1 I.k S For 2..'k 4.1 T.ons Mou Ml' i 1040 r.eh Nav. 044 10T.eh Val. 4(1' , 1000 Nor Cent 70'.. 500 Nev Cons 17 U Noith Pa S-! S7-I Pa n n. 4:s 'Po Salt.. ?(l'i 'J5 Phlia Co cum nf. !!1 l;!0n Phil Ulec 'Jois 10 P It T tc 'JS 10 Ton Ilel. II 71 In Trae :tS f. nil c a i r.ni.. non tt s stl.ioou lOS'l lOSti t; tjf't thanae made b cnmpnrlsan with last si on New Yn'k Ktoik nxrhanr.- I TO.ai sales, Jl li"j .imrrsc i-ui.ii...rr'. wuu 15.B23 shares yeseterday. Thus far this week 41. $na shares Pume. period last week, 83,050 shares I" (','. t)3, .1 ii 7 7' IK is' IHa I5'u r. I .',') 71' lli'i :w as IIU 10" ' ii g li'u , 4 T , S I' 4 01 1 SOU ,tou 'Jiift . II 17 7 s ,15s I all . ii t , ia ia , r,t r.7 , -j l j j . a 4 . 60 81 , jo as . I'D 61 . - su . 31 Ill's . .14 !. , rv kii , 4 -"i .1 . 17 l3-4 "4 '. . II 12 . Si I lit) iii . ao so . sJ'i b2Hi h 9 . a s . IS 19 . IS VH , r,e ik . 2'."i 23 s.i; as .173 174 i cr. 7j . 3 3's . 6"i . 57 uTt Yes .lose All, isalei II 'i '00 100 200 .100 l noo 700 100 1401) 4400 14011 S'lll :on 11330 31)1) S700 101) 2100 MOO 200 101) P.'OII BOO 1.100 300 2990 .111) 1400 SO'JO 4800 5500 200 20MIU 200 1200 400 100 2000 7 Imdicott-JohnBon pf .100?i .. Frio I5?4 .. Krlo 1st pf 3514 . . Fairbanks1 Co 93?i t Famous Playcrs-I. ...1084 Fisher Dody Corp . . . . IU1 7 Fisher llody Corp pf 107 .. Fltk llubber iiO'a 2 Freeport Texas 44!i 2 Gaston Wmi & Wis.. 25'2 i. Cuieral Cigar Co . . SI v General lllectric Co. 170 12 General Motors Corp. .100 6 Gen Motors Corp deb oG?s 4 Goodrich B F 90 4 7 Goodrich 11 F pf . . ..105 7.Grcat Northern pf .'. H31 4 4 Gt Northern Ore ctfs. 43J.4 .. Greene Cnnanea Cop. 41 .. Gulf States Steel .... SH. 4 Haskell & Barker Car. v:Yt 7 Illinois. Central 29i r. Inspiration Con Cop . 59 'i lnlcrbor Con Corp . '?; . . Inter Con Corp pf . . 1" . . lnt Agrlcul Corp . . . 20 ii lnt Harvester . . 139 lnt Mer Marine . . 01' 2 ti lnt Mer Marino pt ..111 .. International Nickel . SJH lnt Nickel pf !I'U .. International Paper . 9'j r, Inter Paper pf stpd. . . 79 2 Jones Bros Tea 353s Kan City Southern 18?e 4 Kan City South pf. . 48!s 4 Kelly-Spring Tire ...I61?4 T.OTT 33 43 72 '4 93 lr 2'a l34 4, in 9's II Ii I I 'a 12.1' a 1.1' I02li HIS1 .1(1 I0?i 3JH 131 "4 4M 124' j HOU 9,1 ',i I til's .10 40 'i 7s 99 'a 44'4 94 la 13S34 102!i 93(4 09 ?a 30 Ui 137 104?t Ii5 20'i 68 3U 44 W 127?; 89 J, 1914 178 t3!4 13SH 30 l' t's 35 U 10ia4 1043,4 11.1 17 98 lU 14 (It 132 24 II 20 32 xi Vt 0I, so 7l'2 14K14 105 Si '4 50 133?i .11"s fl'b 2Bj 42 U C4 91', 110 2iH 64 HI, 41Ts 79 ? 4JU 4914 t.814 5 63 U 5G t.9 93(2 93 I OS, ' 82 193, 92 !s 22.1 1 02' j 100 443, i3a4 102 IM I534 MS 13'i 35 I34?4 105 1514 24 a; VI' I 106 1.17'j 107 4011 43!o 2,1 Ml 5a 170 38S 8B" 873s 10,1 S4 3, 42U 40a4 41 I 1.2 '2 93, 5'4 10', 21 1.17 59 a; U0?4 2li4 92 i,1 79 33' IS4 4Sis 151)2 To lay's Net Close Chie. 3.1 43 - 114 72U- Hi 93J4- 114 2H V 13'. 4k- 9B -98 1)5' i - 123s4 0IH- 10214 1411, 50 I0 30 Va I- 132)4 4 - 120 - Htm- ii'4 1 951,4- "2 1 106(4- 1 14 1 ,10 41?s- 's 7- 's 097i '- U IIU- 1(4 94(4- 1 138?4- I'i 104 ?s 9314- 1'2 99'i 3011, (4 I 114 1!4 'V '4 1(4 niv. hales in S 20(1 1B0O 11100 1 32100 700 700 3 30(1 211(1 .00 itl'l 200 5409 1000 300 11900 3on 3000 1 19100 100 19011 100 2300 100 100 1200 9000 400 1100 1300 100 100 IllBll Kelfey Wiieel Co . . 105 2 Ifcmiecott Copper . . 33(i 20 Keyntono Tiro & Hub. 6?s Lackawanna Steel .. 100?J . I.eo llubber & Tire . . 3i .10 l.ehlgb Valluy 4B'4 l.oofle Wiles Biscuit ii l.oose-W'les B Id pf 114 uoriuarii p Tobacco .209(4 Tolai's Net Uir close esse. 2(4 1(4 'i 1 '4' 4 ' 4 4(4 !s '4 1 Is. '4 '3 14 1, 1 139 -104 Ts - 65 20(4 1,6 3(4 t- 5414 12I, - 00!4 i i 181 -I5'4 140 -39 131 . IS - 3B'4- loiH- 10B, - 115 - Ii - 98 19(i 14 -f 64 - 132 -24',-II -27 -I 32 S2 SO, 80 71!i 149(4 10694- .1514 1- 6(: I35h- 1 57J,- ' 9(4- ' 27H t 5 42'- a 64 '' 91 - ' 110(4- 21 27?4- ' 64 21?i-i ' 41?s- a 19 ?4 46 49!a 699, 95 : i 58 ii 93 (-2 93 . 14S ' 19'a 53'4 23.1 '4 102(2 ' 4011 4,11, 84 1112 1st 16(4 r 11,1 13(4- 35 137 JOB a; 4 H?4 24 ?4 9214 I 10S " Mi "a Kii 50 44 - 25 '4 I- Sl - uu 39714- Sb's- ss!4- 10.1 f .i 43 -403 -78'i-1.3!, 92?H 58; - 5!4 ( U(4- 24 - I3S - fio?; ijo?; 27 92!'s . .tM- 18 W -48(4 159 7 Manhattan Kiev guar. .70 Marlln llockucll . . . 10 Maxwell Motor 53 J4 Alaxwell Mot 1st pf . . 7i .Maxwell Mol 2.1 pf. . 10(4 10 Melcrn Petroleum ..250 2 Miami Copper . . . . 20 20 Mlddlo States Corpn . rJi 4 Mid vain Steel & Urd. 50 . Minn & St ti new ... li(; Missouri Kan & Tex. I2?i Mo Kan & Te"c pt IS Missouri Paclllo . .. 29(4 M'ssourl Pacific pf . . 48 3 Mulllns lloay . . . 4?; 3 National Acme Co . . 3ljs 1 Nat Aniline & Chcm . 72(4 Nnt oiintne & Ch pf. 95(4 6 Nnt Fnam & Stamp .. 82(4 7 National Lead Co .... 89(4 . Nat Conduit & Cable. 14(4 5 NatlollRl Cloak jc. K sis. 100 (.JO Nevada Con copper .. II 100 New or Tex & Mex.. 48 900 10 New Vork Air Brake. 1407, 1800 A New Vork Central ... 741', 500 2.10 Nov York Dock . . . . 55 4200 New A'ork N II .& U. 34 h 200 I Xcu Voik Out & TV.. 20 20(1 2 Norfolk & Westorn ..100 1100 1 Northern Pacific .... RBH BOO 5 Nova Scotia S & C ... 81 H M0 4 Ohio Cities Gas 3; 100 2.50 Ohio Fuel SupplV... tn 1800 .50 Oklahoma Prod&P.ef.. 10 I6"9 . Ontario . Silver Mlninc- 1 I 500 .1 Otis Flovator Cn ...1111.4 600 3 Owens Bottllmr Maeh. BRU SOO 3.50 Pacific Development .tuv 1011 1300 R l. Pactnc Mall as Pacific Gas & Electric. 61 6 Pan-Amtr Petrol & T. 130 I "4 I 1 ft 13; 22C0 . . ian Amer Pet rts. . 19011 :i Pennsylvan'a It n. . . 43 2300 Penn Seaboard" Steel . 42 400 Peoples Gas Chicago. . 41 2000 Pcro Jlarcjucttn 25 10(1 i Pcro Marquetto pf .. 4i)4 200 fere Marq prior pf... 04Ta 400 3 Philadelphia Co 33?, 52900 Plcice-Arrow Motor . 05 ('4 20(1 S Pierce-Arrow Mot pf.lOK, 100 Plerco Oil Corn S0, 500 s Pierco Oil pf 104J, 1,0(1 ,1 Pittsburgh Coal of Pa. 64(4 100 Pittsburgh & VT Va,. .Vi!4 3800 I Pond Creek Coal ... 21 '4 3800 s Piessed Steel Car ...1033, 1200 s Pullman Co 128 .130(1 5 Punta, Alegro Sugar . 90 00 2 Kay Consol Cop 22j 500 8 Hallway Steel Spring. 103 0900 4 Tleodln- 831, 200 2 Heading 1st pf 34 (4 1200 . Hemlngton Type-writ .10014 6S61I0 u ltepublio Iron & Steel. 133'2 200 7 Hep Iron & Stl pf . . . .105 1000 4 Itepub Motor Trade . 4aJ liOOO S.iO Jtojal Dutch N Y ton's 1 t .loscpn Lead 14(i . St I, San Fran 18 5 . St Louis Southwrn ..15(4 . St Louis Sollthvv p. . 29 Savago Arms Corp .. 89 (4 . Saxon Motor Tl Seaboard Air Lino . . 8?, SearsT Roebuck Co . . . .220 I Shattuck Ariz Co 13(2 Sloss Sheffield Stl.. 80 Sinclair Consol Oil . . 01 ?; Southern Pacific 110?, Southern Ii.illw.ay . . 25',; 5 Southern Hallway jif. 62 Hi Standard Milling its. 9 12 Stew-art Warner Sp..l80 4 Stromberg Carb ..... 94!4 4 studebaker Corp 13S(2 1 Studebaker "Corp pf..l04J4 5 stut!". Motor ns 3 Superior Steel Corp .. 49(4 1 emi Cop t Chem 10 Texas Co Texas & Vaclllo . . , , B Tobacco Products . . i Tobacco Products pf, I lanscontlnontal Oil 14 !s 17s - 1 I 300 400 100 400 000 1400 COO too 200 3100 COB ID 50400 4301) 101) ' BOO I0O HOO 32000 I Oil HOU 100(1 500 1 1011 I.S9II iiou 700 20S0II 1000 4400 2300 2100 1200 19490 100 1 m; 87 24011 500 3400. 44000 40U 200 17110') 300 NOO 400 100 lOO'l 500 1011 800 9100 9011 200 9100 39300 3500 500 llhOO 100 200 1100 100 5C0 100 . 13 .333 . 53'. .102 .101 58 7, t III 5 Transue & Wms Steel. 60 14 . Fnlpn Oil 421s 10 Cnlon Pacific 124(1 4 Unlteo vvnuy steel . .'. 63? 10 United Fruit Co 204 . United Retail Stores .116 Un Ity Investment ... 10 . L'n fly Invest pt .... 22 U S C 1 P 4 Fdry . . 29 I'St'Il'g Fdry pf. 62 U S Ind Alcohol ....114 F S Ind Alcohol rts. 43(2 7 F S Ind Alcohol pt...l05 : F S Food Prod Corp. 85 F S Uealty & Imp . .. 4 " ' 4 ii F S .Smelting It & M Lib n V S llubber !! s F S Rubber 1st pf .. 116 s F S Rubber full pd..!30 5 V S Steel 106, ITS Steel pf . .US3, B Utah Copper 82 (3 4 Va-Caiolina Chem . . "6(2 6 Va Hon Coal & Coke. 17 a; Wabash 10 Wabash pf A 29?; Western Pacific 23 7 Westlnghouso A Br. . .123 4 Westlnghouso 11 M. 51 Western Maryland . . 12 i Western Union Tel . . 8i 4 White Motor 16'2 Wheeling & L Urie .. II", Wheel & L Erie pf . . 20 5 Wilson & Co S3 1 Willys-Overland ... .34 1 Willys-Overland pt . . 92'i Wisconsin Central . . 35 Worthlngton Pump ..104(4 7 Worth rump pf A ... 91(4 n Woolworth IMV .. ..1217s Wells Fargo Exp 51 105 327s 2?; 96 30W 40 , 70!4 209(4 49H 10 "J, IB 40(4 24.1 2074 oo?; S3 'j 17(4 12(4 18 28?; 48 46(4 31 64?; 89 34 85 81(4 14 (4 82 H n 48 135 72 i 62(4 33 (i 1 ?4 100 85 ?, 79(4 .13!, 52 ' 10 141 67(4 16?; 3S 61 128 2H 42?4 40?; 41 24 4i'2 041i a)?; Mh 106 ('4 20(4 104 03?; 32(4 21 101S 121 85 22 1 4 1027b 8 I'i 34 9S 125 10.1 63 105 14 1754 15(4 28(4 82 20(, 8?i 220 135'a ii(-2 d0?, los?; 24 , 62 5' 180 92! 4 135 104 4 12.1 48(4 12', 330 51 7, 101 101 Si (4 65 4.1'i 123(4 S214 200 1135s 10 22 29 62 109?; 39(4 1115 8374 ?. 13 ?4 134(2 115 13C 1077, 115 8054 75(4 77?; 10 2!4 23 121?; 56 11J. 86 13(, 15 2314 82(4 S3? 927s 34 103 911j 121 57 94 14 1(4 i "'4 H 3; 7(4 14 '4 105 - 33 - H rr, - K4 08!,- in no54- W 4BW '4 70(4- 2(4 ( 111 1 209(4- 3(4 5 0 154 70 no!4- ft 77 40(4 2481 - 257s 62 6454- 1714 12(4 18 - 20(4-4 48 48 Si ll? -72(4 8974 - 14!4 -. 82 H - 17 - 48 -130)4- 73 - S3 - 2 33?i-i 20 100 , . 86?; ' 81 - 63 -62 - ',-1034-l -87(4- 76?;- 3S - 67 34 129(4 - Vi 2H 427's-" '4 4114- ft 40(4 2i?; i- 47(4 617s4 " 333; - ?, 94 7-l 4 107(4 a LOCALS HELD UP AGAINST S TRONG REACTION AR Y TIDE Wide Declines in High-Price Specialties Disclosed Very Thin Market Little Ground. Lost Elsewhere 1 Coinldcriiig the surrounding unset tling influences the local market held up remarknldy well. There wns some ir reguhirllv and nervousness but except in the lecent nt'tirn high-price special ties the loss of ground was unimportant, while .some of flic local stocks scored gains. One of the strongest periods occurred ut the opening, when tho market moved wholly independent of the disturbed lunditlon of the bigger exclinngc. The Increasing weakness, however, of the latter influenced some uneasiness nml there wns tlie usunl selling by the more timid or weaker margined speculative accounts. It was in Ihe specialties which re cently monopolized the nttention of the local community, that the greatest in roads were mode. The market for these f-bnrcs, as experienced in nil such pe riods, wns found to be extremely thin. On (en sharci, (Scneral Asphalt com mon, jielded SI to It'll, while thp pre- Improvemenl In I lie. early Hading vnl lcd to fiflif. The initial dealings dis closed a considerable accumulation ot overnight buying orders. Much of this gain was surrendered around midday. Fnlon Traction wns fiO cents hither at :iS',.j and Philadelphia Itapid Transit was firm at "8, reflecting a complete indifference ot thp snarl In the city's financing plans. Lake Superior Corp. was sold freely by some of the recent pool members carrying the price back to 22'Tj . Interesting chnnges wero recorded in n number of the iinusunlly inactive issues. American Stores preferred ad vanced SI. 50 from the previous sale to It1. Northern Central was 00 cents up from its last sale. North Pennsylvania was S- higher at 82,. American Gas also $1, yielding to 41. I.anston Monotype, a newcomer, roadf its debut 011 tho local exchongo today. The. trading wns light, with a price. iluptiiniion between t.t and SOU, 'hn ferie'd'nii Irnnsnctions aggregating 100 I 1'ljl'or figure being attained in the final shares, dropped SI.1.00 points to "JUS'S. ".- While tlie operations in rilcotilo Storage Battery were on n much broader scale, BAR SILVER the stock only dropped SL'..'( to IliO, ' Commercial bar silver was quoted in later lecovcring half of 'the loss. New Virk today at ?1.23 nn ounce, Among the other local stocks a much down '.scent. In London, the quotation better showing was made. United (!as was 00:Jid, unchnnged. I '.2 I Hi !4 40 7, 10414 64 1 32(4 21 8S - 1027s 1(4 82?, 1(4 31 3; 100(4 2(4 129?;- 2(4 105 63 - 27s 10G 1 14(4- (4 17 54- 154 1554 54 28(4 - 14 82 - 7 UNITED STATES GOVERNMENT LIBERTY LOAN SECURITIES $50, $100, $500, $1000 Denominations BOUGHT AND SOLD FOR CASH FULL INFORMATION REGARDING TAX FEA TURES OF ALL LIBERTY LOAN SECURITIES WILL BE FURNISHED UPON REQUEST. MONTGOMERY & CO. NEW YORK 133 S. 4TH ST. PHILADELPHIA CHICAGO TKI.DniOM'.'i: tiell, Lombard 4320. Keystone, Mstn 23SI (ioTernnient Securities Department 'a 34 ii. 3(4 54 4 2 114 54 1H ; 1(4 20(4'- s?; (4 220 - 4 5-2 135s - ?s 79?,- Ji 61 - 14 1093; Hi 24?,- (s 62 8!i- 7s 180 - 94 137 ?S - 104 J4 t 126(4- 49 - 12?s- 332 - S3 r 101(2 101 67 - 5!i- 4154- 123?i- 3?; 200 61', ii4H- i?; to - 1(4 29 '. B2 (4 113(4 2(4 43(4 2(4 105 - 14 85 '4 47. , 74(4 - 1.4 130(4- 'i 115 t 13U -109 li IIS 8254 75(4 . 29(4 23 123 s?; 12 86 ,. 76(4 154 16(4 154 253 8254- 54 '4 - 54 9274- 1?4 351 105 4 D754- ys 127 - I 51 .. Business Men ask us What Is Your Business Trading Department? Our Business Trading Department might reason-' ably be called a business cleaving house, because it is organized to bring, together those who arc ecking to buy, sell or merge established businesses and is in a position to render valuable assistance in consummating such transactions. Our Business Trading Department 'has on file at tho present time inquities both for the purchase and sale of manufacturing plants and going businesses. Our Business Trading Department is in touch with capital seeking investment in going businesses; it is also in touch with business enterprises offering an opportunity for investment,, and active participa tion in the management if desired. Business Trading Department ELKINS, MORRIS & CO. Investment Bankers LAND TITLE BUILDING, PHILADELPHIA I Martin Air .... 4 f. "TA.MlXKll OIl.s, Illinois .. 167 I'Hl Ohio , 37" 375 Pralrln 1'Ip. 30 304 eitanilanl Oil California. .300 ::i)4 Standard 'oil N .T 71 72 Standard OH N Y IM is,-, fi'i am 7J1 GoiafltM Florence 31 iToWlle ti Kewanas . ..3 tioldtleld Mormr 3 uren Monster Hla Mlntns Howe Bound Independence Lead Jeroma Verde..... Jim Ilutler .. Jumlio Extension Mnr.Vamftra Ores. ...... McKlnley-Darragh Maimva Ooiiper , Mother Lodf ,..,. Mines Co of America.... Nlpdialnu Jtay Hercules ...., San To Toiopah IJxtenalon t'nlted Verde West End Con 1hlle Caps noNDS Russian fiovernment B'js 4!) Husfla'n Government rts 45 IT. 4t; 4, 4', l'n " r. 2t" 24S Ii 11 S7 an i.r. 70 41) 43 6S (,i tl lt 111, 11 2, 2H, 8 U S' ? 4'J 4-t 1A 1 11 14 40 13 45 41 iMiurnMiKST ori.s, "s r.oi 3, I Sales in nnvn N'et I llfxio Jllsh Txiw 1 lose thso .1 Ulec & I'eo , Tr 4 s fS." (Vi fi." 3 I Leh Val (5s 101'2 101L. 101 Lj. . 1 5'. Lib Bonds i Bd 4'is.. 0.1,08 0."i,00 or..ns- .1(1 'IS'i 4tli 4',s On.-lO 03.20 0a,20--.28 1 Phila To cous .In,. SHS 811... $11.,., 4 PJiila Klet- 1st os,, 03Mi oou.-aa'a :riudgftfii4saii wiijWt- u -BcHtts,- i2fl,'to.enrii viin.swi.ii-wi sftraay jinu 11- ; ww, J4m iicrlod Vl ' IT8.3'H', 1)46.900. Allen Oil ,. ... I'i Allied Oil I Amal Tire IK Anelo-Amer Oil Hi) rioston Wsomlnc OIL... 6 Carll) Sndicate 47 Cowden & Co 10s, ll.k llasln 8", Inter 1'eirol 31 Island Oil L T 7H Clenrnck oil 4 Houston Oil 13; Merrltt Oit 21 Met I'etrol .- ., . ....... If' , Midwest Oil 168 Ohio Fuel M Omar Oil & Oas ... 11 I'rod b Kef Oil ... .11 Sapulpa. Ilrt 7! Sinclair Uulf 3d Southwest oil 20 United Oil ... . t VVhlt Oil 38I4 Woodburn Oil . . vllSINO MTOCKH Alaska B CMt. UlK Leds-s.. liutts Wsw York Ilonton Mont t! I ti & Jerome Con Arts. ,,,. First; National,. oiidni .eoa, I.:: .3 I' iii; 3B' (18 1H ll V 8(1 i'j 4 It ldll I..' It's O's 7, 63 2ii 3U lk . 100 4 2 IS, Former 315th Men to Dine The former members of Company B, '."loth Infantry, Seventy-ninth Division, will hold their tirst annual dinner Tues iday evening. November 11, at, Mose 1 bach's, Thirteenth nnd Oirnrd avenue. 'This company, composed almost entirely of men from this city, took part in some of tho fiercest fightlne In the Lorraine section In France, nnd on November 11, 1018, they were fighting in tho Ar gonne Forrest. Trained at Camp Meade, Md., they sailed for France, July 0, 1018. Out of a compuuv of 210 men. they lost thirty-five killed, and 110 wounded. j NEW YORK, COFFEE MARKET New York, Nov. (!. The coffee mar 1 ket opened steady, but somewhat irreg t tilar. call prices being C points lower on September with other months II to j 12 points higher. The mark"' showed uli easier ten dency after tin- sll. There was helling '.of September, which was believed ngain purchased In the cost nnd freight market bj New Orleans importers. This, combined with the irregular ruling ot mllreis prices in Brazil, suggested that the ndvanee had gono far enough to bring out increased offerings from pri mary shippers nnd there were again rumors that Bio was accepting bids nt concessions compnred with asking prices. In one mse it was said that the bids accepted weie just about on a parity with contract quotations. Naturally, this increased the tendency to take profits on long lines and prices miou broke some 10 to 20 points from the early high levels. Its 1 17 Today's Ranfle In .Liberty Bonds 1MB High Low p. m. Lib Bonds 3;2 ..100.1)0 100,72 100.78 Lib Bonds 1st 4s. 05.00 05.00 05.00 Lib Bonds 2d 4s. 03.2(1 03.00 03.10 Lib Bonds 1st 4?iS H5.1M HS.IHl VO.tsi Lb Bonds 2d 4 03,30 03.10 .03.18 lb Bonds 3d 4 05 J fl 05.00 05.12 Mil: t.-'a.. .i,t ,? ni .10 (V on (lion Yes close Open 11 a.m. ..i70ooi inn.-. I7.22W25 17 811 ... 17.2U022 H'.'O .... 17.O8W09 17.18 17.05 . 17.0rt(i 17 IS 17 10 . 17 00O02 M7.07 .... Septemnei December Januar March May July Bid DIVIDENDS DECLARED United rirar Stores, quarterly 1, nr cent on preferred, paiabU December 15 to stock of rerord Noverabsr 58, Pavls Daly Copper Co., a dividend of DO cents payable perember 20 to stock of record November SO. llarbiaoi Walker Refractories Co.. quar terly of l'$ per cent on common, payabla Pecember 1 t0 stock of record November 20. fat Joseph Lead Co., quarterly of 2.1 cents. Payable pecember 20 to stock of record December 0. Latawlnta natlroad Co., semiannual of 2 '4 per share (less 10 rents per share de ducted icmunl i.f war lnexime tax) on lire. ferre.d, pajsble November 10 as registered FOREIGN EXCHANGE New York, Nov. 0. At the opening of the foreisn exekango market this morning Italian exchange struck a new low nt 11.08 for cables and 11.10 for checks. Sterling and francs were about as indicated in the preliminary figures, sterling at 4.1fSi, for 'lcm and and 1.10U for cables, and fraucs ut O.rtl for cables and 0.03 for checks. The last-mentioned exchange was helped by the new credits. Other quotation!! were: Swiss cables H.53, -checks fi.55; guilder cables 37 15-10, cheeks 37 ; pesetas cables 10.05, checks 10.00; Stockholm cables 23.75, checks 23. CO: Christlanla cables 22.80, checks 22.15; Copenhagen cables 21.35, checks 21.20; Belgian cables 8.43, checks 8.45; marks 2.85; ruble currency 500s 4.80, 300s 5.50. At midday, French exchange on the new credit operations rallied to 8.0S for cables and 0 for checks. Sterling improved to. 4.15 fop demand and 4.10V& for cables. Lire hung at the lovv records of 11.08 for rabies and 11.10 for checks. Marks were nominal at 2.S8. November 7 per cent, free of tirti payable on demand. nnntrs ria not close. Centrsi National Bank.' .quarterly of 0 CeDV Oa r.nmmf,n tint on preferred Iletnrv Nntea 3 fr9.R0 MM4 00.48 er cer.i, free of tttKi payable on demand, .American Cell on ou,. quartsflr of t par est on common tuad MttiWarJjil ot B per American 8ugar Refining Pays Extra New York, Nov. 0. Directors of the American Sugar Belinlug Co. today de clared an extra dividend of ai of one l.er cent, In addition to the regular quarterly dividend of l'Tj per cent ou the common stock. A regular quarterly dividend of 1 per cent on tho pre ferred stock also was declared. All dividends are payable January 2 to stock of record December 1, CITIES FUEL AND POWER COMPANY Three Year Sinking Fund 6 Secured Notes Guaranteed as to Principal, Interest and Sinking Fund Payments, and All Covenants of the Trust In denture, by Endorsement on Each Note, Sinking Fund requires the retirement each month, beginning May 1, 1920, through tenders to the Trus tee, of I To of the principal amount of Notes out standing. '' Dated November 1, 1919. Maturing November 9 I, 1922. Circular oladlu umls'iei. Price 9614 nd Interest) To Yield about 7.3 Investment Banker Real Ettate Trust Bldg. Philadelphia, New York Metal Market nt York. Nov. fl. Conner .Soot. Navetn. ber ano-.peeember offered 21oi, January cf. no! wa: Canadian Victory Loan ox 1919 5 Year Bonds due Nov. 1, 1924 15 Year Bonds due Nov. 1, 1934 These bonds are being offered in Canada-at par. Due (o exchange conditions they can bo purchased by American investors at a substantial discount. No accrued interest will be charged on payments made before November 15. We recommend the bonds for investment. IKrtfe for Circular No, D-i8 I GHfiNDLER&GOMPAriY. sMeORFORATES, ' Franklin National Bank Bldg., Philadelphia n (W,. quarterly of I rr i T rr ft - Tf- t'-i' vi'm li'lMalilBl' tu4 mMydji at B perl 8i. Liuli,r woi-M. XmibfaiMmKiTHm' jhi New York .1 Bogtop ftjclory Notes 44, HM M.'O.pMU'.B"'. sttmiiii' -1 l ' -iA.'......1afr-J-- 'y ' mu
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