cm i ?3
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i
ie
a JfW W"
I
s
EVENING
'HV'r , jl ,
PUBLIC LEDGER PHILADELPHIA,
TUESDAY, FEBRUARY 17, 1920
in
5tt
.V
The return on your
Investment will be
ABOUT
ft
if. you purchase
at the market
', FamousPlaycrs-LaskyCorp.
8 To Cumulative
CoHtcrtible Preferred Stock
Ask for Circular 7308
Bonbright & Company
jronnw Vistati sTnoi. i. jr.
Manager
437 Chestnut St., Philadelphia
?fow Tork Boston Chkaco Detroit
IVc offer for sale:
fa. Wafer & Pow. 1st 5s, 1940
Harwood Elcc. Go. 1st 5s, 1939
Lshigh Val. 11. F1. Coll. 4s, 1922
Phila. Elcc. Go. 6s, 1922
Fenna. R. R. Gons. 4s, 1948
P. G. U. & St. L. Cons. 4s, 1953
W. H. Y Pa. R. R. 1st 5s, 1937
NEWS OF FINANCIAL WORLDNEW YORK AND PHILADELPHIA STOCK QUOTATIONS
MARKET RALLIED IN GOOD
FORM AFTER EARL Y DECLINE
Dullness Met on Declines Indicated the Urgent 'Selling Move
ment Had Spent Its Force
Particulars on Request
New Yoili, Feb. 17. Today's stock
market was more professional in char
nrter than hns been seen for the last
fortnight. Price movement was ex
tremely ragged and to some extent con
fusing. While the trend at different
intervals was conspicuously reaction
ary, and heaviness continued in r
number of the high-priced industrial
specialties, it Has evident as tho day
"progressed that the selling movement
Mad f.pent its force. .
Although there was apparently some
belated liquidation, the action of the
market indicated that the greater de
gree of selling prcBSurp emanated from
professional sources. There was about
an equal division of the opinion as to
whether this renewed selling represented
further reduction of SDCculatlve com
mitments, or a further extension of the
Miort interest In all events, tnc market
became progres-sh ely duller ou the de
clines nnd before midday came almost to
a standstill.
Stones in the morning papers allud
ing to the condition of the President,
further references to the low reserve
held bj the Federal Reserve banks, in
dicating n further advance in commer
cial discount rates at the Federal Ite
seno boaid meeting on Thursday, and
predictions that the annual report of
the Republic Iron and Steel Co. will
show only ,?4 earned in the stock last
year were all used separately and col
lectively as further incentives for re
newed attacks by the bear party.
High price specialties were subjected
to renewed pressure at the opening, but
the general list also displayed further
heaviness. Crucible Steel was a promi
nent target, dropping G1. -points in the
first few minutes of the desultory trad
ing. General Motors also came in for
a fresh drubbing, receding 3Mi points.
The oil shares were irregular. Texas
Co. gaining 2 points, while Mexican Pe
troleum nnd Pnn-Americah Petroleum
fell back. Equipments, shipping and
textiles registered fractional recessions,
and the rails were hesitant within nar
row limits.
The selling movement, however, was
to n large extent concentrated in the
higher-priced industrials. The motors
and their accessories were stcndily
offered during the morning at losses of
one to four points. Baldwin Iiocomo
tlve was also distinctly heavy, despite
its favorable annual report, while Endl-cott-Johnson
added six points to the
continuous decline of the last few days.
Irregular rallies accompanied the
lowering of the initial call-money rate
at 0 per cent, which was the lowest
renewal rate since Jnnuary 23. A few
important issues, notnbly tho oils, made
full recoveries by noon. Meanwhile
many stocks had fallen to the lowest
levels of the year.
Excepting the easier money rate,
there were no definite developments
upon which to bnse the further rally in
the carlv afternoon. Advances, how
ever, were extended from 3 to 8 points
in oils, motors, equipment and stand
ard specialties, Mexican Petroleum,
Texas Co., General Motors and Cruci
ble Steel leading the recovery.
Gains were substantially increased
in the active final hour, rails rising
briskly with oils, motors, and steels.
The closing was strong.
NEW YORK STOCK EXCHANGE tRANSACTIONS
Dlv.
In I
Baled
09
100
300
100
00
00
300
1000
4090
1300
.100
1100
100
eoo
800
200
6390
200
2000
5800
2300
200
1300
1200
800
3100
MOO
01100
100
100 ft
5000 4
400
1400
100 6
2700 6
100
400 7
000 10
100
52990 3.(0
Adams express . . . . 31
. Advance Itumcly ...., 39 H
AJax Rubber 9J
.. Alaska. Gold Mines . . Ui
Allts-Chalmers 30 Y
8 Am Acrlo Ch'cm 87 H
8 Am Beet Sugar 81H
8 Am Hosch Magneto . .100
. . Am Can 43ft
12 Am Car & Fdy, 130H
4 Am Cotton Oil 44Vi
Am Druggist. Syn ... 12 H
Am Kxpress 96J4
Am Hide & Leather.. 31H
Am Hldo & 1cath pf. . 104
Am Ico 40
Am Internat Corp ... 92
Am Linseed 77 Ka
Am Locomotive ...... 91
Am Ship & Commerce. 21 K
Am Smelt & Ref .... 62
Am Smelt 4 Ref pt .. '
Am Steel Foundries ..42
Am Sugar Ref 126
Am Sumatra Tob ... 8314
Am Tel & Tel 7H
Am Tob Seo temp ctfs 50)4
Am Woolen 120
High Low
.80
6
'7
1
0
3
'
7
.1
7
10
8
5
Carstairs & Go. iq
v
hi
tniestmrvt Securities
Member Fulladelptiln n
New York btotk Kickanie
1419 Walnut Street
Philadelphia
71 Broadway, N. Y.
OCKS
SHOWED
Philadelphia Stocks
IRE RE
S1STANCE
Essex County
New Jersey
4
Biddie & Henry
104 SOUTH FIFTH ST.
Signs Multiplied That Liquida
tion in Market Has Run
Its Course
Insurance Company of
North America Rights
Bought, Sold, Quoted
Townsend Whelen & Co.
503 Chestnut Street
Coat. Cltlra I-t.. I. 4 Trie. Is, 1962
John Hnamaker fis. VHA
Portland Bwy.. Lt. 4 I". So. 191?
I'nltrd Ga S Elrr. 6s. 1943
Tenn. Tower &. 19M
Citizen' Gnu . Klec. (Waterloo, la.)
Guar. 6b. 1931
HENRY D. B0ENNING & CO.
STOCK KXCIIAVOK 1IU1LIJINO
Direct Private Telephone tn New "ork
z Membera rhtla. Stork Uxchunice
Net
Hlih Low Close chire.
41 AUia Ins , ,
war ... OVj OVa
227-1 Am Strs. -12 'j ' ,
10 tBald L.100 100!s 10fls 1
10 Brill J G 4.-. 47, 45 ..
015 Kl Stor..ll3 100 113 o,6
S5I C X A. 32- 32' al2 y,
403 do war. lU'ft iu ju'4 Ti
45. Key Tel. 10 Vt
214 I,Is S Cor 17
225 Leh Val. 42
."0 TMidvnlc. 45
701 Pa It R. 41
05 I'hila Co
cum nf. 32Vi
20SPhila El. 25
100 P It T.. 23
110 tRcading 70
85 tdo 1st p 33i,j
IKiTiln 2d nf 31
25 Ton Bel.. 2 A 2
105 Ton Min. 2l 2
114 U G I... 54 55 54 ..
100 tn s sti. m im mwt Ya
1 TV Coal. 72 72 72 2
45 York R pf 31 31 31 . .
iVet rhft.ir mada hv comparison wifh laai
sale on New York Stock Exchange.
Sales In RONDS Net
$1000 Hth Low Close chce
1 Citv 4s. '43 07 97 07 . .
2 Leh Val Gx.1001 100 100 Vs
1 Leh V Coal
cons G... Ofli.. 1 nnu, 00 Vj..
11 Lib Bonds
" 4th 4V,s. 00.70 00.70 00.70..
2 Vic 4s.. 07.S0 07.80 07.80.40
10'A
10
41 i
45
41
32Ui
24
23
0SU
33 Vj
33Vi
10Vt4- Vi
17
42 ij
455r 1.8
414-
32V2 i
25 ..
23
70 4-3
33 'A 4
34 ..
! '
2i'
it
The Sherwin-Williams Co.
7c CumuUtiTe First Preferred Stock
Price 100 and Accrued Dividend
PAUL & CO.
Member Phlla. Mork Kichanuf
1421 CHESTNUT STREET
It. Majne & Wab li al. Trie. Ha, 101
Columb.. U'krjr l,ake A ei'k Tr. .. 1011 The railroa
lnlnrr aa & F.lec, Co. ltMltitp. .-, lflMi 1 bourht on th
1.4iilnc Fuel Oa Comnaiir nts. 5. 19i7 ,,,f ",,
.'cneral Weetrlr Ci. Debenture ls. i04nHotle and he
CALL MONEY 6 PER CENT
Xcw Yorlt. Feb. 17. The New York
i:eninR Sun's closing financial rcvicv,
t0'withacall money at C per cent re
newals being made at that usure lor
the first'time in some three weeks ana
no particular demand for accommoda
tion signs multiplied today that liqui
dation in the stock market had run its
course. Price movements were indicative
oC that at the beginning.
The opening was indeed irregular anu
favoring the downward side, but it was
-k.:..Ut the. lin was the result Of
maneuvers on the part of the profes- .
vional bears, who met with but Indif
ferent success in trying one wuai s"
un .lftnft in flint rliroction.
There were so many firm spots dur
ing the initial experiment, and a few
positicl strong ones as well, that the
bears soon lost the courage of their
convictions. They did not immediately
rcort to covering, but tried again and
again, each time more feebly than be
fore, until midday, when they appeared
to give up tlio struggle.
By that time the entire list had tal
lied in good form, although trading was
vcrj quirt. The oils were especially
strong ou reports of higher prices for
crude in Pennsjlvania and the limited
unnlv in relation to demauil Two to
mx points were gained in that group,
und the gains were well sustained.
The steels disnlaM'd les resiliency
laud Crucible was still weak under the I n, n 14 ror caDles at the opening and
influence of the financing plan ratniou v,as ,hortlv quoted at 0.15 tor cables and
, bj the stockholders jeteid.i nnd the , c j- for ri,pck.
failure of the companj to .declare on , Other opening quotations were: Pe-e-etra
stock dividend I nited ta fs ti)s rab,pg j-o-5i checks 17.i5 . KuiIder
Thi coppers were meiely steady, nnd
the motors enjojed intervals of moderate
expansion.
The railroad shares were lairly well
announcement that the
1 Pa gen 5s. S0V" 80i
1 P B &W4s 06 00
2 Read gen 4s 7Si-j 7Sl,i
5 Unity In 5s 70 70
S0Vj
78 M
70 1
FOREIGN EXCHANGE
New York, Feb 17. The foreign
exchange market opened slightly lower
this morning, demand sterling starting
at 3.34a4 and declining to 3.3412 in thr
first fifteen minutes of trading, while
cables sold at 3.3514. Franc cables
onened down 4 centimes at 14.30. nnd
checks 14.32. Lire eablcs were off 5
noints at 18.30 and checks at 1S.32.
Swiss exchange was down CI centimes
1 cables 30 15-10. checks 36"; ; Stock
I holm cables 18.40. checks 1S.25: Chris
I tiania cables 17.20. checks 17.05; Co
nenhagen cables 14.C5, checks 14.40
Belgian cables advanced to 13.75 and
Tr
Co
1D
as.;
. Indianapolis Traction & 1 rrm
Samuel K. Phillips & Co.
"Mfmbrrs 1hllRlflnMi Mock Kctiunce
' S07 rHIMMT ST.
fa Logan Trust Co.
2d & 3d S)t. Kwy. Co.
m Sun Co. 6, isy
ft? tif... ivt "r r-D a. MrtAt
weiiarn 11. tx. i . rcii. -t, utj
Senate conferees had fmalh hwJ. to 1..... ; marks old at J 01.
U the pulsions of the roil- ' iESTEnnAY'S FINAL OUOTATIONB
'CHARLES FEARON & CO.
J ' 333 Chstnut Street
Thoroughly Experienced
Bank Teller
ean make opleniibl onnertlnn
with (iloncester It llnandal
t' . Inatttutlon. rtdres
f- A rf-w r 00 PI. u. M
j-.-VJ. DO ., uiuuccaici, Ji.
acreort on nil the o
load bill and that the measure would be
reported to the House tomorrow
Sentiment was in general greatly lm-
!nioed b.v revision of opinion 11s to thr
1'iesident's Adriatic dictum to Great Demand
Britain, France nnd Italy. Apparently Cables
I the Street was grossly misled in that
matter by tlie oiernasty conclusions
Idrawu" bv the London nnd Paris press.
ij The technical position of the market
i itself was in a soue reassuring Lvi- '
dentlv the list has bfen hold to a point nemaud
1 when somothing verj startling indeed, ables
wnu!,l have to happen to draw it again Demand sterling gained another c
into such .1 movement as was witnessed I ;n the earlv afternoon, going to 3.35U,
. la-t week. ! nml ::.3C1 for cables. The market was
Borrowing on call has come virtually quiet throughout Franc exchanges
to a standstill a sjmptom not to be trained slichtl. cables going to 14.32
Sterllne Trancs Mr Guilders
Demand J Jjjj J4 27 i 22 S7U
1 ables 3 33'4 14 25 IS 20 37H
TODAY'S OPENING QCOTATIONS
Sterllriff Francs I.lre Guilders
. . 3 34I 14.1(1 1R 30 38H
. . 3 3.1U 14 32 18 32 38'
NOON QCOTATIONS
Sterling Franrs Lire Guilders
T 31'i 1434 IS 32 3T'a
3 3 11. IJ 1S.30 37
CLOSING QUOTVTIONS
sterllns Trancs I,lr Guilders
3 31 1 1 14 IS 3S 3n
31', 14 12 1S3U 304
Demand
Cables
Vi I lj.apaDle privnic sctri-iury inu us-
sihtant execute c ciciircs position
in Philadelphia. .Not less than
$3500 salary.
t-GIS Ledger Ofiicc
i Stockwell, Wilson & Linvill
I Certified Public Accountants
R i 1 :! Rlrltr.. PhilarJelnliia
-JJC1 IjCUIU a "" TJ
Lawronce E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
iiiK iikal p.srn: tucst bijio. .
inii.ilaate ud adju partner.hlp and
ImmUm aov.nt. Alo prepar. O. S.
1DCOO). x "r -'
,n
Jim Butl'r
lnrNamara
Mldwav
Mlzpah Kit
Montana
Vor Slur
Rf piie i: 'U
fp- VINVNCIW. , J
W " i)lldena
itnom.An in i timi or tiii:
ard of dlrertorn or tim i niten Auto
Ln. Inn. Iieiu irtvitruv i urury ,
u... 1 .......1.1. tn .tfl.kk.N...
QICl." .Mi. .'. ii. r.ui.niiviit?i-
aiiu i. uitiuenu
KllOId
AT A.
ooa
14 1020.
elocli w
s e HMrd Decemoer ii"
i'Zi aik on H mererred stoiK to ftoi
" J8 -.-r.1 l.hiuirv "I l'.'Jtl hot
i ;t( jfurcli 1. lt-'0 ChegUj will l
i .hi. iinrea "'-nAviD w 1'AX.st
I ignored while, on the other hand, it
J. i would b difficult to foresee a sustained
rallv of large pioportions so 0ng as time
loans rule at S'tiXO per rent, with the
tanks reluctant to loan at these high
figures and romtnereial borrowing dis
tineth on the inrreae
l'ommreial bills were reported in et-
rrllent demand, prim' names being,
quoted at (lihflt0"i per cent and others Cath T1
( unsuitable romment was elicited b.v
adiiies from Chicago having to do with
meat exports, which havt fallen off to
flic point of being described as having
prnctlcalh ceased. ' The authority Ton nvt
for this n the bulletin of the Insti- West Fnri
lute of America.!! Meat I'ackers. In
i he last calendar ear pork shipments
lloiie ixipprlcrl 2.500.000,000 pounds.
In the past month it is said that such
shipments hnn practially cotne to a
stop, beit expnitH going the same wa.
-onic time pn s musl) .
Reports nf a dtcided decline in marine
insuiancc hmo tilso been Iieaid. The
recent slump in the cchnr.ges lias not
b(cn whnll, un otmtablr for this, the
weather having plajcd no little part in
retarding lupincut to the seaboard and
entailing reductions in cargoes The
tondencj tn i urtailment wn. regnidcd
as very Mgmficirt ncvcrthele
and chcMvs to 1 1.34 Other quotations
trorc! Lire cables 1S.30. checks 18.32
Swiss cables (I Hi, checks 0.18; guilder
cables 37, checks .ii1; marks, l.ui
Austrian. 30
100
2000
800
100
100
300
600
500
11800
1100
700
000
200
1200
500
1000
100
fiOO
900
1800
100
2200
100
3300
100
100
1800
3700
1300
300
200
1700
3000
700
100
9500
1400
700
200
700
1000
700
300
300
' 200
4200
100
400
3710
500
3J 910
3100
200
226J0
100
4100
200
1600
300
1100
300
100
too
3930
1200
810
900
1700
200
100
1100
2300
1300
1000
100
28S0II
300
1100
1800
400 7
30029
100
1300 4
4800 7
100
100
100 5
500 4
800 I
300 7
1200 C
700
100
500 C
200 3.50
4800
2 100
2900
1500
400
800
200 t
SOU
100
100
1700
Am Zlna Lead & 8m,. 18
Am Zlno L & S pf . . . . 50
Anaconda Copper .... 57 I
Ann Arbor 14
Asso Dry Goods ...'.. 51J4
Associated Oil 113
Atch Top ASP ... w 83
Atlanta Blrm & Alt . . 7&
Atlantic Con-st Line . . 88 ;,
Atl Gulf & W I S S..145K
Atl Refining 7 fd..H3W
Baldwin Locomotive .108H
7 Baldwin Loco pt 98J5
Baltimore & Ohio .... 31 K2
4 Baltimore & Ohio pf . . 44
Barnet Leather 09
8 Barrett 11514
7 Barrett pf 108
Batopllaa Mining ... 1
Bethlehem Motors ... 21
5 Bethlehem Steel B... 87H
Booth Fisheries 10,
Bklyn Rapid Transit. 124
Bklyn R Tctfs of dep. 9 V
4 Bruns Term ItRR., 6Ji
10 Burns Bros 105
Butte Copper & Zlno. . 84
.. Butte & Superior Cop. 24
Butterlek 10'A
Caddo Central O & It 20
California Packing . . 79'i
California Petroleum . 33
Calumet & Arizona . 61
Canadian Pacific ....121
Case J 1 Thresh M pf . "Vt
Central Leather -784
Central Leather pt . . .10414
4 Certain-teed Prod . . . 49J4
4 Cerro do Pasco Cop. . 49
8 Chandler Motors .... 12034
4 Chesapeake & Ohio .. 55H
Chicago Gt "Western . 8?,
2 CM Gt Western pf . .23
. Chi Mil & St Paul ... 37 H
. Chi MU& St Paul pf.. 53
7 Chi & Northwestern . . 81 Yx
8 Chi &. Northwest pf . .116
Chi nock Isl & Pao . . 29
6 Chi II I & Pao 6 pt. 64
7 Chi It I & Pao 1 pt. 70
8 Chi Pnuematlc Tool . . 83
.. Chile Copper loft
3 Chlno Copper ... .36
. Coca-Cola 39
3 Colorado Fuel & Iron. 38J4
. Colo & Southern 22 tf
Columb Gas & Eleo. . . 56V'
Col Graphophono ... 4254
Comp-Tab Record ... 47
Consolidated Textile . 27!i
Con Interstate Cal 11 . 19
Continental Can 80
Continental Candy ... 11 Yz
Corn Products Ref . . SOU
Corn Products Ref pf.104
Crucible Steel 107
Crucible Steel pt .... 98
Cuba Cane Sugar .... 44 5
Cuba Cane Sugar pf. 8054
Delaware & Hudson . . 81
Del Lack & Western. .170
Denver & Rio G pf . . 1254
Elk Horn Coal 21
Elk Horn Coal pf . . 33
EmerBon-Brantlng ...22U
Endicott-Johnson 11254
Erie 13&
Erie 1st pf 20!
Etie 2d pf ... . 14
Famous Plaj ers-L ... 72
Famous Plaers rts.. 87
Federal Mln & Sm pf 2814
l'rceport Texas .. ..24
risk Rubber 34Ja
Gaston Wms & Wig . IS'-i
General Cigar 5J8
General Cigar deb pf 5''s
General Motors !30',S
6 General Motors pf . . 78
0 General Motors deb . 75
fi Goodrich B F C9J4
7 Goodrich B F pf .... 04. 5
Granby Consol M & S. 37
Gray & Davis 31
4 Gt Northern Ore ctfs 3r,as
7 Great Northern pt ... 75
(iieene-Cananea Cop.. 31
. Gulf States Steel . '-'
Ilartman Corp 88
LOCAL MINING STOCKS
rovorwn stocks
I
Haskell & Barker Car. 5
Hupp Motor Car ... 1
Illinois Central 87'A
Inspiration Con Cop . . 3!i
Interboro Con Corp .. 3?B
Int Agrlcul Corp .... 16
Int Harvester H3 Yz
Int Mot Tr 2d pf W
. Int Mer Marine. ... 31" 4
6 Int Mer Marine pf ... 82
International Nickel . UlVb
International Paper .. lO's
Iron Products Corp .. ''-i
Kansas City Southern. lTs
t Kansas City So pf.. 45
t Kelly-Spg Tire J1594
S Kellj-fepB T 87 Pf
Kclgey Wheel 67
2 Kcnnecott Copper ... 284
1500 1.20 Keystone Tiro o. Run ao'4
100 Lake Erie & W pf . . . 17
2900 6 Lackawanna Steel . . 74
500 Leo Rubber & Tire . . 20
1t0 3.50 Lehigli Valley
6000 Liggett & Myers rts 16 ',2
2814
S8H
6914
in
38J4
son
81
10614
42
12714
441'
12
9t?4
21H
102
40
89 34
774
8
1(54
C0J4
W
4014
12454
83 H
98
5054
11914
16
50
55
11J4
49
113
79
w
88
141
113,
10054
98 h
2914
4214
69 J4
115)4
10514
1
20
8414
1054
12
9
54
99
8
2314
1014
11'
7654
30
61
11 714
97
70
101 14
4934
48
12414
4954
8
22
32
50
78 J4
116
2554
57?4
67
82
1614
3614
38
38
22
56
3954
47
27
18
79?4
11
78 14
I04!4
191 Y
98
4254
80J4
88J4
170
1014
21
E3
2214
108
12
1814
1254
69
86 14
28 &
23(4
3354
13
65
85!i
125 14
7754
72
67
041-4
37
33
3.-, 'j
Vt
11
1,2
88
52U
13;
81
3S
16
11234
00
29 la
80
20 30
74 ?4
42
15
41
113
9S
67
2S,
.'938
17
7 '
2S
l'4
16
'
14
54
y
Today' Net
Close Chre,.
31 4- Y
3814- H
6914 - H
1?4" H
39144 1
87144- 114
81 1
lot VA
4354 1
1J014 4- H
4414 1
12)4
96H
2114
101
40
92)4
7714-
90W 3W
21H H
r.134- J
9414- H
42 '
120 1
834
07H 14
5854 Va
12514 3)4
18
60 2
57 14
143
504- H4
113 -
82)4 3Va
7)4 5
88T4 1
145)4 21'a
113)4 W
10814 34
9814 .
31)4 2
412
69 J4-10J4
11514- 54
106
1 - S4
2034
8754
1034 Yt
12 14
914 114
7Ji J
105 6
8H 34
2314- 34
19U H
20 34
7934 4 4
33 114
61 4 t'
120)4 1)4
97 - 14
78 I 14
1014
49 ?4 tt I
49 34 1
17914 J 2 I
5514 6't
834 1H
23 1
36 3
533
8114 214
116 3
29 314
64 6)4
70 3J
82 2
16J4- 14
30 1
39
3814-'" 14
22 a
SO - 14
4254 ir
471
27)4 y
1854 14
t0
1114 14
80J4 14
1013a 54
issy, 434
681
4414 1
80 14 '
8814- 134 I
170 .
1354 254
21 - 14
332 '
2214 14 1
11214- 114
1314 114
2014 2
1 34
72 1
87 - 34
814 - H4
Dlv.
Sales In . High Ijiw
700 2 Loewe Co ............ 27 254
1700 ..f Loft Corp Ilf4 19
400 .. Loose-Wiles Biscuit .. 4814 H
B100 12 Lorlllard Tobacco ...18(14 154)4
990 7 Louisville & Noah. .. ,100)4 100
300 4 Mackay Cos pf , 82 62
400 10 Manatl Sugar ., ill 110
too 7 May Dept Stores I...117J4 .117J4
300 7 Manhattan Kiev miar. 47 4(14
ZOO 1.75 Manhattan Shirt ..... 3014
100 .. Maxwell Motor 24 J4
100 . . Maxwell Mot ctfs . . , , 22J4
100 3 Miami Copper 32
10300 10 Mexican Petroleum ..174J4
piu i.zo Middle States Corp .. 30
7514
55
4234
814
7
51
SI
7614
3714
4114
233.
39
1
34
134
2
94
1?4
Y
1)4
4109 4 Mldvalo Steel & Ord.. 48
100 .. Minn & St Xi new.... 1314
100 .. Missouri Kan A Tex. . 8J4
.500 . Mo Kan ft Tex pf ... 1314
7100 . Missouri Paolflo 26)4
300 .. Missouri Paolflo pf ... 41
200 3 Montana Power 6334
100 7 Montana Power pf ... SI14
200 3.50 National Acme 314
1800 .. Nat Aniline A Chem. . 5334
100 n Nat Aniline & Ch pf . . 8514
300 7 National Biscuit 112
200 5 National Cloak & S.. 65J4
200 .. Nat Conduit & Cable. 814
1000 s Nat Enam & Stamp.. 7234
0 5 National Lead 75
100 7 National Lead pf .... 10714
"09 . Nat R Tt of Mex 2d pf 454
1500 1.50 Nevada Con Copper .. 1H
300 . . New Or Tex & Mex . . 42)4
5700 S New York Central ... 71
600 2.50 Now Tork Dock 334
100 3.50 New York Dock pf... 8
200 5.20 NY Chlo & St Louis. 27
. . Now York N H A H. . 28)4
1 New York Ont & W. . 1614
7 Norfolk A WeBtern..-95
7 Northern Pacific ...
5 Nova Scotia S A C.
Ohio Cities Gas ...
50 Okla Prod A Ref. . .
. . Ontario Sliver Mining
Otis Steel 3014
Owena Bottling Mach. 53 14
Paciflo Gas A Eleo . .
Pan-Amer Petrol ...
Pan-Amer (B)
Parish & Bingham . .
Pennsylvania R R . .
. Penn Seaboard Steel.
. Peoples Gas Chicago
. Pere Marquette 29 J4
Pcro Marquette pf 48
5 Pcro Marq prior pt. . 62
3 Philadelphia Co 3034
Pierce-Arrow Motor . . 84
8 Plerco-Arrow Mot pf . . 9814
. Pierce Oil 1734
Pierce OU pf .. Oi?
Pitt C C & St L 56
Pittsburgh Coal of Pa 53
Pittsburgh A W Va. . . 28H
Pitts A W Va pf 70J4
Pond Creek Coal .. . 1854
Pressed Steel Car . . 91
8 Pullman 112
5 Punta Alegro Sugar . 80
8 Railway Steel Spring. 93)4
2 Ray Consolidated Cop 19f
4 Reading 71)4
2 Reading 2d pf . . . 34
. . Remington Typewrit.. 6$
7 Rem Typewrit 1st pf 9334
0 Republic Iron A Steel 1C0J4
i Rcpublta Iron A S pf.lCOJa
. . Royal Dutch NY.. 10014
. . St L Southwestern . , 13
. . St L Southwest pf . 25
.. St L San Francisco. 10J4
. . St L San Fran pf . 2634
.. Saxon Motor 1514
. . Seaboard Air Line . . 9
Seaboard Air Lino pf 1414
Shattuck Arls Cop ... 1134
Shell Trans Trading.. o3?4
Sinclair Consol Oil ... 3914
Slosa Sheff SAL. .70
Southern Pacific H034
Southern Railway ... T234
Southern Railway pf.. 55
Studcbaker S91J
Stromberg Carb 60 14
Stutz Motor 114
Tcnn Cop A Chem ... 10
Texas Co 133
Texas Co 30 paid. 173 12
Texas A Paciflo 32
Tobacco Pioducts .... fS
Tobacco Products pf.. 9)i
Tobacco Prod Rights 14
Transcontinental Oil . 234
Transue A Wms Steel. 5514
Underwood Typewrit .172
24
3474 -1314-
6514
8SJ4 234
78
C91J
MH t
37
37
.".014
3?4
31
I,!
8S 4
54 -
11 4-
87)4 314
5314-r U
:34 - J4
16 14
11234- 114
no 6
3034 -I
82!4
2094
7614 -r
l'a
1!4- 13a I
45
11534
91 -,
67
28!
30J4 -17
r
29
14
i!4 1-
8909
300
500
7300
300
2000
1700 ,
500
500
300
100
15900
2700
100
7000
700
100
9600
200
300
700
10000
100
700
200
200
200
1600
100
230
3700
200
100
'00
500 '
10900
400
100
300
28300
100
7800
100
300
10500
400
1200
1600
400
200
0500
30100
300
10700
8100
600
22500
1700
500
1300
6100
100
8290
2Q0O
100
1600
8100
200
100
8100
77,00
200
400
1
.74
10
2914
2114
2214
22
108
3334 .
45
11
714
1U4
23
3914
63
9914
3014
81
85 54
111
6314
8J4
72
75
107 14
414
14H
41
67)4
32
48
25
28
16
93
7134
54)4
42
754
6)4
30
5354
51
7414
71)4
3714
4034
23)4
39
2614
4S
6!
3514
8134'
9814
17
9234
53
53
2214
70 J4
1834
8814
111
SO
9114
1954
0614
3354
63
9814
9834
10034
9014
13
24
1734
2034
1514
714
14
1114
80
37 34
69
921
Today's Net
1914. H
48 -U4
15414 K
100 a
62 1
110 )4
117J4- W
47
3014 H
24144; 14
22)4- 114
21 y
171)4 2J4
3534 14
46 V
1214 134
814 H
13)4 234
26 314
41 2J4
4334 134
6)4 14
314 V
5334 254
85 34 2J4
112 134
65J4- 2
814- 14
73- - 114
75 - 14
10714 14
454 'A
1514 W
4315 BV4
71 334
331
48-14
37 314
28 214
15
AMERICAN STORES STRONG
FEATURE OF LOCAL LIST
s
Tone of General Market Much Stronger Good Recovery in
Electric Storage Battery
954
7414 214
6414- T4
42 - 14
8 14
614- y
3014 14
5254 14
51
SO 314
75-3
37)4- 114
4114 14
2334- 14
39 1
2914 SK
48
at
3514- 34
53J4 34
0814 134
17 - 14
9234
531
J3 - 34
2634 214
7014 )4
1834 14
33
112 14
80 - 3
92)4 34
1934 .
70)4 314
34
68-3
98J4- U4
100 134
100J4 14
100 334
13 i!4
253
19J4 234
3634 1S4
1514 14
9 2)4
14)4 34
rim firiii-iiv nml fttrcnirtli of Ameri
can Stores common stock was the bright 1
spot of today's local market. There
was quite n vigorous demand for the
stock during the morning, with more
than 2000 shares changing hands bciorc
mid-day. Following tip jcatcrdny s
vigorous rebound the stock scored 11
further advance of $1.50 to 42Vj.
ranking a net recovery of more thnn $!
a share from the low level touched in
last week's slump.
Nothing in the way of postivc news
was known to account for the sudden
revival, outside of the knowledge of tho
large earnings. It is understood, the
percentage of gain last jear was exnet
ly the same ns reported by the Wool
worth Co. Tho directors meet tomorrow
to act upon the preferred stock dividend.
There has been some talk of Ihc pos
sibility of something being done tor the
junior shareholders. While the largely
increased profits unquestionably war
rant some distribution to the common
stockholders, in generally well-informed
circles, no action is expected at this
time. The time, however, for the
inauguration of dividends on the com
mon stock is believed to be not far dis
tant, and some action on those lines is
confidently looked for before the summer
is upon us.
While the movement was without liny
direct influence upon tho general list,
the tone of the market was considerably
improved, in fact, was quite noticeable
in view of tbo continued surroundiug
unsettling factors and circumstances.
Mectric Storage flattery retrieved most
of the ground lost jesterday, in a rally
to 112, or over $2 above yesterday's
final quotation, aud which was 513
above the bottom figure mode last Fri
day. It appears ns if most of Ihe
weaker speculative accounts had been
cleaned up and the stock is in a stronger
position.
Changes in most of the other local
stocks were limited within small frac
tions. Delated selling depressed Lake
Superior Corporation to 1(1. United
Gas Improvement had a similar loss at
53V on small dealings, but scaled T4 at
the closing. Insurance Co. of North
America was t"0c higher, at 32, while
the warrants, on the other hand, de
clined $1 to 10. The Alliance Insurance
Co. warrants continued sustained at 0.
Philadelphia Electric met supporting
orders under par. Philadelphia Rapid
Transit was n shane Better at 1.
Although the showing made b.v Lehigh
Navigation was favorably received no
interest was displayed in the stock. The
report, in nil events, should dispel any
lingering doubt ns to the safqty of the
dividend for some little time to come.
Apparently "intrinsic value these days
is receiving nttic constoeration.
inilronds in so far as equipment Is con.
crrned. tho nnmiiU report of the Bald,
win Locomotive Works enme In for mor
than passing nttention. It is apparent
u vigorous campaign is t,o be inaugiw
rntcd to obtain n liberal share of the
foreign business. When the railroads
are returned to their owners, which
will be dono, nccordlng to the schedulo
ou March 1, ns the director general of
railroads .today issued orders disbanding
the twelve regional organizations on
that date, there will be nn equally vig.
orous drive for the domestic business.
The great need of equipment is widely
known, nnd the onljy question is how
thecarrlcrd arc to pay for it. A simiUr
question arises iu connection with th
foreign business. Iloth will bo satis
factorily ndjustcd.
Great many complaints were made
by brokers today of tbelr innhllitv tn
obtain loans from many of the local
tinanrinl Institutions. They state If
the local institutions would not send
funds to New York there would be no
difficulty in meeting the home iimihuw.
ments. Offsetting this is the statement
of tho ofiicials of the larger institutions
that nil loanable funds Arc being con
served for commercial nnd business re
quirements, nnd thnt the embargo
against unessential loans is still rigidly
enforced.
NEW YORK COFFEE MARKET
New York. Feb. 17. The coffee
market opened steady, unchanged to n
two-point advance, with trade com
mission houses furnishing most of the
early demand, i
The coffee futures market held steady
during the morning and at midday val'
ucs had made slight gains, but the
price chnnges were unimportant and
within n 5 to 10-point range.
There did not appear to be any nar-
ticuiar fresh news in the market ow
ing to a holiday in Brazil.
It is believed thnt the liquidation
of March contracts has pretty nearly
run its course, ns indlrnted by the nar
rowing differences. Confidence seems
to be gradually, returning and bears
do not find it so easy to depress values.
.March .
.May ....
July . .,,.
Sertpmbr
Uld.
Test Today's 11.00
close opon a m.
. 13.H0 13. on
. 14.30 14.32
. 14. M 14. nn t4,l
.. 1.19 14.50 14 M
In view of the starvinc nolicv of the rAirarn..iiR.32.331 03.210,521
BANK CLEARINGS
nnk clearlnts today compared with cor
WPimdln dg? W.t t lV.rl lflJg
Phlla ,$l4.2M.r.2 $fiR.444.B.Ti 147.Hiri.53
Baltimore 14. neo.135 13,Ofll.l7R
noston As 171 624 r.7.fi!H 102 38,474.40(1
V York .O.nlR 4.17 70-.SSD.Rn7 6U.2I7.25T
n,(l(lll4i t IOl-
10
4
4
200 3.50
200 10
100
209
8800 3
300
300 5
1390 2
(WOO S
700 8
19500 8
100 8
200 6
100 3.50
1
54 i
l
34
14 I
77290
SOU
.10.10
1100
100
300
1300
2500 '
100
1700
500
1100
100
100
100
1500
2100
tioo
1300
100
400
11100
100
100
500
31)4
1294
I.C
414
49J
183
. 'i
. 2214
. 69J4
. 18
. S3 14
. 4514
99
11014
. 64
. 45 1
. 9834
1111)4
Union Oil
Union Pacific . .
Union Pacific pf .
United Alloy Steel .
United Drue 1st pf
United Fruit ....
United Ry Invest .
United Ry Inest pf
United Retail Stores
U S C I P A Fdy..
U S C I P A Fdy pf. 46
II S Food Products ,
U S Ind Alcohol . ..
U S Realty A Imp.
U S Rubber ....
U S "Rubber 1st pf.
U S Smelt A Ref
U S Smelt A Ref p'f
U S Steel
U S Steel pt . . .
Utah Copper 713a
Va-Carollna Chem . . 63
Va Iron Coal A Coke. . 77
Vanadium Corp .... 48
Wabash 8)4
Wabash pf 24
Wabash pf B .... 15
Western Maryland ... 10)4
West Maryland 2d pt 1734
Western Paciflo ....
Western Pacific pf
Western Union Tel .
Wcstlnghousa A Br
Westlnghouse E A ai
Wheeling A L Erie .
Wheel A L Erie pf .
White Motor
Wilson A Co
Wilson A Co pt . .
Willys-Overland
Willys-Overland pf .
Woolworth F W ....
Wouhlngton Pump
21)4
5814
8414
100
5014
1214
19)4
53 )4
68
05 Ta
25
88
127 14
75 la
Vt
2014
53 4
8414
5714
111
.934
17314
27 f4
U.I
92 '4
!4
2134
55)4
172
20
114)4
66
44
4934
182
9(4
22 14
67 N
18
45
58'4
793l
41)4
30
11014
64
4514
904
110
09t)
62 H
77
48
7)4
15
9 "2
15
"234
38)4
81 14
100
511
10
1314
53)4
6S
"3 Vi
SS
1.121,
7114
2)4
214
1114- 14
S3 2J4
3934 134
70 1
S634 434
X234 2)4
55 2)4
734 )
6014 4
113
10
182 5
17314 i
32 4
67(4 14
9314- D4
34- 14
S3 14 U4
55 IS ..
Hi 4
3034 114
120 5
66 1
44
1934
113
91J-
23 '4
C934
18
(0 1
5914 114
821-4 1J4
43)4 1
88 114
11914- ill
64 )4
45)5
8834
110)4
7134
63
77
48
8)4
24
13
1015
H34
24)4
58',
84U
100 4
-.0)4 i,
1134 134
1914 1
53 15 14
68
95 14 3T4
25 14
88
12214 1C4
5514 3 .
134
D4
!4
211
14
54
114
Tke Role of the United Stages
In Relation to the Reconstruction of France
France is in the process of reconstruction, and the
same determination and resourcefulness which
prosecuted the war may well be expected to be
available for the pursuits of peace.
But on account of her losses and devastation some
of the sinews essential to rebuilding must come
from the outside.
In this the United States has a part to play, and
one opportunity offers through the purchase of the
French Government war loans.
A purchase of these bonds carries an attractive
speculative feature, since, if exchange returns to
par, the invested principal would more than double.
Send for Circular No. E-62.
6handler& Company
4HC0n0RATC0
Franklin Bank BIdg.
Philadelphia
New York Baltimore Now Haven Boiton
1
.07
.21
,r,n
.12
.on
.10
.08
AVeM Ton
1
(10
it.fl
on
B
08
IS
in
24
OS
BUSINESS NOTES
DIVIDK STOCKS
oa
mailed.
Treasurer.
Mlmrt l) v
Mto Pn
Helrhpr
r.,n II'
Broueh r .
Divide lint
Dlv Syml .
Uiv 1 nn .
rmidend
Ilatt PI'
llHu'irfk Dlv
inch UH .
llevort OI
rtno W
flrilltll . .
miirr Kins
Ton tllv .
Ton Ilasb'l,
victory Plv .
Verde Dlv
Zon
.n
.01
.15
.03
LMI
n'j
.01
H
0.1
n-j
n.'
19
n
n-t
01
Jl
13
12
30
Unfair illacrlnilnatlon Htnlnat tlieni In
faoi of the jobbers is charsed bv a
number of retail stortutucainst manufac
turers of floor eoverinca In the cllstrlmi-
. tion of the limited production 01 u
jj 1 goods now being turned out by tho mills
2 ' Trnde In the market for upper leather
"-! I was resumed on a fair sized scale jes
terday The heavy manuiucmniiK
element appears fairly well cocrcd at
present hut the smaller Interests are In
the marfcet for supplies. Sole leather
was stcid". while nothinc of new Im
portance turned up in the belting lentlier
market
The iniirl.el for crude rubber ill-plioecl
a vnuc.i . iier undertone yesterdav and
under heavier ofTerinKa all KraueH or
rubber declined on tho average 1 cent
a pound.
to hae atlanced more than anything I
else Dining room fumlturo has moedl
1 up about 100 per cent in the laEl eight
'111 months and sharp increases ha
also taken place In mttal and wooden
beds
Traders nnd dealera in hldeN reported
a riutet and unchanged market for the
SO
nt
nn
16
.01
05
(It
Jl
ill
n-.
Rumored Western Railroad Merger I
St. Paul. Minn.. Peb. 1
the (Jreat Northern. Northern I'acific 1 Pooth
M- Aiianiii
erger of , niu Cull
Alex. Wellington's Sons
Notice a. hereby u
anu jiiiriiiiKiiiii uuiuuuus iniu cine great. j.onYn frae
trtiiifcfontitiptitul hjHtfiu, i-liortly after r'rckeriaek
Rowriiinental control is relinquislitd ! PMmf B n
tins month, tins tiuci'iist in Inrli roll. L,.',AB-V..- ' '
Tv i'iL du' .fe'!ir.0i'r"1111 ''''l,'!- h("r'' oda. It i reported OnMf Con
OOI.DriKIr) STOCKS
(II
J
04
' (12
01
D(
ni
'OTmi.tth. rti "of sT e'i ,!,H,'n'on thnt tho uiors-r ,s bem; pli.nn.fl .lions noMl M.
r,rjrrpio?i,.ho"ui'ecrva 0r;', .$ss yr '",r'1 ,h" ln- "' -T- s;rkiT,
ItAIiriY A
bt riMHfv
GOVERNMENT BONDS
' ,iyKCL.V,v,LTi J':-NTH
. WlXfl u.t.nr itMUkt'tl l.fttera testament
.,ii,iZ. the entitle of IM'll.ra Oreen .imh
'fiiZS. hlnir tieen. sralited
.ITV TOUR!
BO Wil"
P.in.inn ' ou C
IVnuma ref !
ran.iniH eon "a
pirymn rrc Ja
1 mi 1. 1 ransmn ou ai
W.Tl
nun
I'Hf
1II.1H full
mill
Kl Y II n.a a n n a .1 1 W .. I milAlllil. I I K lira.
-t.at. .- fMiuBfrl 1m msilak fhlHnplnu -1 ItMl
& toUi li Vrnt them without delay. ',"''' eft "", ' 'S?" ,0,0
?. lS?ole of lh ..aid ro.nwin- Noa. , g "v' J ;' "
& wft. ItWs v "ITkht -"-' R- i""
inn
ion
1DU
.ino
in
lS
so
I")
un
ino',
Ail. id
101
101
1111
101
tn
ui
in
n
'i
lot
inovi mi
tint KIR':
..l(M lQ5!i
fiend
XI
I.one 13tar .
Oro
rtr.i H"'a
Pllrr Pick
Spearhead .
Mnrro
Ariz United
Kien .
Mother lode
Nv Hill
Nev rtatld
Prnmontarlo
Nev Wder
Teropa Mln
White Capi
.13
.(U
.1.1
OS
nrt
nj
n.i
m
0:1
no.
on
MISCEU.AJ.'nOUS
1 ;
.in
.
an
nj
L'O
in
10
m
0
ml
01
o.-
fill
02
OS I
10 I
1 1 i
ni
l1
ns I
f'i
in
01
m
ni
11
01
1 M
"0
1
In Ihe opinion of a leartlnic rnrmeul
R in,,fr.,iMr,i, iinipsM there is an In-
cro.iso soon in the amount of buslncfcs nPBa )vas (onn on 39. inch 08-7
Ml,,,. i,1l fnr Rnrlnc 1 nes, nuycrs"ll! ShU,.lneh Bl-flfts at 24 and 22'
find It necessary to crowd In heavy , respectively
orders toward tnu ena 01 mo nc-aoun m
present, ho said, the orderB beinif Kijen
are for considerably less than the retail
trade is accustomed to take, and bu,
ins Is prettv much on the hand to
mouth" order.
Ilusera of burlaps roiillnue to innrk
- ... .... ..1. !,. nr r.e nnu
time. Willi tne n-"" "" ' y . "
MONEY-LENDING RATES
NEW YORK Mnnej 011 call opened
today at (1 per cent for lending and re
new inc. Till"- K the sixth time this
year that tall loans bae renewed as
low as (I per cent, the Inst time being
on January '2i.
The decline in the renewal rate for
common dry -.xricty. Prices are held on call funds to U per cent had sentimental
a U.1SIS or ia centH ror mountain uogo-' influence upon the tone of the time
us Buy era are considerably below the lnonPy market. This applied oulv to u
orTuVnUn'iHn laran".! les'cTt'y I ?W . the nominal quotation,
IM.ker Hides were in limited request. I for fixed date funds. IltislncM vas vlr
whllo nothing of special Importance lunlly ut a minimum
turmd up In the country hldo market On industrial loans KVjffifl per cent
I was ouotcd and on mixed loans RfitS'.
Ihe lieKinnliiG: of u new neek did not I prr put.
do tery much toward stimulating the,' p.mp'k,,ni nenpntdnpfk innHnim mdei
demand for gray Roods yesterday While ' r""c D'"7 nl ' pIllancl J '""t nuc milel
there was some movement of prlntcloth, , Jt u''fl1II1Brt,'J.,lU0.,,itl0"v- f"r Prime mem
.ma slieetincs. flno yarn cloths continued her bills of riVjWi.i per cent,
dormant The clothing styles alpo were Call loans on acceptances nre uu
" ithout tnap, one reason for this iliauRt'd nt i" per cent
apparenth belnp the rf ported dllTiculty 1
of gettlrp; them llnlshetl Ainonir thi 1 lMULAnKLIMlIA Oall, IS per tent;
Mu'eiings Hales yesterda were D.5us at tjmc (j ,)cl. ceut ; commercial paper.
I?1! rents for dclHeiy during this month , t11ip lo 8:v moutlis (t tier rent
and , ,..,... ,. . . .
i.u.ui. .uouey is nuoieu at ii'Ai
1 cents, j
how 0110 of his comraetiirs had actually
lothlng manufacturer told ychterday
current for spot goods aro very largely
nominal They were rraoted yesterdav
Sn the basis of 11 to 11 U cent , for S
ounce 40-Inch cloths, with 10H-ounce
burlaps he d at 17 cents Afloat goods
about thirty das out. were quoted
around half ,i cent a yard Icks
Prlrea for furniture were nald ye
te.day to have advanced an a erase ot
1 00 per cent In the last couple of years,
with prospects of still further increases
. 'J. ' Ann rnmea about. Dressers.
uuff& and other ''case goodj" were nald garments (or the buyer,
In their ruth to get Uelherlea of eloth-
ing last ceason, nome buyers reaorted to
the expedient of huylng piece goods nnu
halng them manufactured Into gar
ments by contractors This practice o)
to tnanv abusea for which the entire
maiket cot the blame
per cent. Uit-count rates, thort bills,
54 rVtrii per icnt; tliree-mouth bills,
"viffl'ltJ per cent.
. Liverpool Cotton
I.irrool, Feb. 17.- There was only
Not content, u fair request for spot cottoo today
however, with taking away a large part' lti. nrjc(,H stra(l, 0n the basis nf .
of his production in this manner, a "" '1r' . "ra".5 nn lae DaBIS nt "n
advance of (1 points for middling, at
lil.Old. Tin sales were 8000 bales. The
TN
A trs
ihtained materials front hint tn carry
(ii this side-line business. Iho con. receipts were 11,000 bales, including
tractor In question would report tho loss (1000 bales American, futures: were
of so many yards of linings nnd express I steady in the early dealings. Spot prlres
supplied the equUalent amount of goods.
In this way he got hold of materials he
found himself unable to purchase In the
market and wax able to manufacture
were: American, middling fair, no.liOd :
good middling, na.l'Od; fully middling.
rt2.20d; middling. .T1.04d: low middling
27.7-ld; good ordinary, Si.7ld nnd or
dtnary, 23,70(1,
FOREIGN TRADE
OPPORTUNITIES
OUR efforts to extend our foreign
adc, thus increasing thc name and
fame of America, necessity has presented
us with a rare opportunity.
The disruption of trade channels caused
by the world-war and the failure of for
mer sources of supply have laid upon us
the necessity of furnishing manufactured
goods which Europe formerly exported.
No more logical foreign market for
us to cultivate exists than
LATIN AMERICA.
We shall gladly confer with any one
intending to engage in the import or export
of merchandise. Our facilities arc unex
celled and our connections numerous and
of long standing.
FOURTH STREET
NATIONAL BANK
131-145 South Fourth Street
Capital, Surplus and Profits
Over $10,000,000
Ikfn i " m fi rmniii ,'t i, i rfit rirmrYj?rtiTifirii nrfri'f' '
(
"l
).
Tr