Kav3 ap- fm m i J"' p !"! ,V -l . INCREASED SECURITY OF OLD BOMBS The replacement value of much of the property eourlna old bond letuee Jut undoubtedly doubled In the list few year while bond prlcee havo declined eharpl. The Inveetor who buya well ateured old Isiuaa of eompara. tlvely lono maturity will find they return him a high annual Inter. ett rate. These old bonds have the advantage over new Issues In the opportunity for a material enhancement In market value. No one need worry about falling replacement value at theie old bond were Ittued agalntt properties at pre-war cottt. We own und offer, subjedt to prior tale 9150,000 TORONTO, HAMILTON & BUFFALO RWY. CO. Firt Mortgage, 4 Bonds Dated 1896 Due 1946 Secured by a Direct, Closed, Underlying First Mortgago Strong balance sheet earnings and guarantee as to earnings by the N. Y. C. R. R., Michigan Central Railway, Canadian Pidfle Railway and Canadian Southern Railway. Rated, AAA Price 60 and Interact Yield about 6.50 "' Details Upon Requoet MARTIN & CO. 1411 WALNUT ST. PHILADELPHIA NEW YORK BONDSALE- Summary of Individual Transactions on the New fork Exchange Am Smelt A net 6a . 31000 .... 82 6000 .... t 7000 .... 82 Am Tel Tel Co olt 20000 .... 78 Am Tol & Tel Co Bs 1000 .... 81 Am Tel & Tel Co 6b 2000 .... 08 8000 .... 07 ' 8000 .... 07 12000 .... 07tf SOOO .... 08 Am W Paper Co 7s 1000 .... 82 Anglo-French B 6b oe& oey4 08 oow, oavk 08 ooy 00 00 08 08 00 00 1 00 06 1 08 1 00 00 3 00 3 00 08 00 08 00 00, 06 1 . 00 1 00 06 00 City of Toklo B Co 1000 . .,. 87 Cleve Short h 4s 0000 . ... 88 Col O & Eleo Co let 1000 .... 81 Colo & Southern 4b 10000 .... 71 Com Tab A It Co 6a 2000 .... 83 Consol'd Qua Co 7a J FOREIGN INTERNAL BONDS We havo established Direct Cable Communication with Belgium, France, Great Britain and Italy and through our agents in theso countries can offer subject to change in price Sntardnr Closing Fries at Par Triers Uxchunge Normal Belgian Govt. Restoration 5s $79 per 1000 frs. $193 French Govt. Victory 5s 68 per 1000 frs. 193 French Govt. 4s of 1917 57 per 1000 frs. 193 British Govt. War Loan 5s 321 per 100 486 Italian Govt.Consolidated War Loan 5s 54 per 1000 lire 19.3 We are prepared to give information concerning theso and other Foreign Securities and invito correspondence on this subject EDWARD B. SMITH & CO. Banker 1411 Chestnut St., Phila. ELKINS, MORRIS & CO. Banker Land Tide Bldg., Phila. COLLECTING BAD DEBTS IS OUR BUSINESS NOT YOURS WHEN you carry "London" Credit Insurance and an account is not paid at maturity, it can be proved as a "loss", and we pay you trre excess over the Normal Loss, as covered by the Policy. You do not have to wait for your money while ve attempt to collect It for you. And when your Normal Loss has been ex ceeded, we pay you within thirty days, your excess as provided in the Policy, and each suc ceeding covered loss within thirty days after it occurs. It doesn't pay to wait. Ask for our booklet, "Credit Insurance," now. i mm super SERVICE AT "YOUR SERVICE 1 man Established tfEgSfrHgES, Eitfhlecnsixtyninc LONDON GUARANTEE AND ACCIDENT COMPANY LTD. i. . mviiNU, oenerai vgent i rhone LombjrJ 4016 820 LiFayctte Bid. PHILADELPHIA. lA. lLtlikUitULUltlXtUii'lti"'--MiAttUiitA4kiUM1t'1UAAf UU U The Intelligent Investment of Your -Funds BY purchasing high-grade, dividend-paying Industrial Securities, you secure your full share in your companies' prosperity. New England the "Hub" of the nation's industries is now entering a period of even greater expansion. These industries offer you a choice selection of high-grade Pre ferred Stocks, yielding liberal returns. Unte for our Booklet P. I L.-29I "Haeguardlno Your Investments" HollisleiWhile&Go. INCORPORATED I MGH North American Building PHILAD'ELPHfA .Now Vorlc Springfield Pro iilt'nctf noooo oooo 11000 2000 2000 48000 10000 2000 0000 01000 2000 1000 103000 .14000 1000 10000 2000 20SO0O 1000 10000 2000 2000 '.1000 0000 1000 12000 2000 1000 I 23000 '2SO00O I 00000 Armour & Co 4s I 2000 .... 83 Atch T & S Ko 48 ' 4000 .... 18 2000 .... 18 . 1000 .... 18 OUUU .... ID Atlantic C Lino 4b 4000 .... 10 2000 .... 10 noooo .... 16 1000 .... 10 Baltimore & Ohio cv 0000 .... 04i 3000 ...03 4000 .... OS 10000 .... 05 1000 . .. 01 1000 .. 05 1000 .. 05 H00O ... 05 1000 .... 05 11000 .... 65j BaUlmoro & O 3 Via 0000 .... 83i Baltimore i. Ohio 4b 10000 .... 65 4000 .... 05 1000 .... 65 1000 .... 65 Baltimore & Ohio Gs 2000 .... 64'j C000 .. 04 10000 . . 05 2000 .... 05 0000 .... 65Mi 1000 .... 65 BaUlmoro & Ohio 3a 2000 8000 2000 8000 1000 1000 1000 1000 ..101 ..101 , .ioov; . .100 ..100 ..100 ..100 ..101 Copenhagen DHs 4000 .... 80 1000 .... 80 SOOO .... 80 Den & Rio Grand id 2000 .... 41 10000 .... 40 10000 .... 42 (30 -day sale) SOOO .... 42 2000 .... 40 Den & Rio Grand 4s 5000 .... 62 6000 .... 63 8000 .... 63 Den & Rio Grand Cb R000 .... 61 Detroit Tunnel 4u 2000 .... Id Dom of Canada '26 5000 .... 03 Dom of Canada '29 1000 .... 04 Erlo R R Gen Lien 0000 .... 44 100O .... 45 Erlo RRCVA 10000 .... 80 8000 .... 41 1000 .... 41 Erlo It U cv B 3000 .... 40 10000 .... 40 Erie R R cv D 0000 .... 42 2000 .... 41 5000 .... 48 Erie H R CV 4b 2000 .... S4&4 Florida ECRly 4 0000 .... 11 General Elco Co Gs 2000 .... 88 Gt North Rlwy lot 4000 .... 83 2000 .... 84 Green B & W Ry B 2000 .... 10 Havana Eleo Ry Gs 2000 .... 85 Hudson & Man fd 20000 .... 50 1000 .... 51 HudBon & Man In J000O .... 16 HI Central 4b of '63 1000 .... 66 10000 .... 61 Illinois Central CQ 1000 .... 02 Illinois Steel Co 4 5000 .... 80 Imp Jap Govtt 1st B000 ,...101 1000 ....101 Oregon & Cal RR 6s 4000 .... 01 Oregon Short l 4s 8000) .... 81 O-Wash R R Co & Navl Co 4 b 1000 .... 68 Pao Tel & Tel Es 3000 .... 85 Pao Gas & Eleo 6s 4000 .... 18 Penna RR gm 4s 4000 .... 81 Penna R R Co 6s 23000 .... 80 1000 ...T 80 3000 .... 80 10000 .... 80 Peo O It & C Co 68 2000 .... 61 Peoria & East Rln 1000 .... 21 Pero Marquette 4s 4000 .... 61 Pero Marquetto 6b 1000 .... 80 Prov Socu's Co 4 s 9000 .... 82 P S Corp of N J 6s 1000 .... 62 4000 .... 02 Reading R R Co 4s 2000 .... 18 Rio O & West R clt 2000 .... 50 R I Ark ft L 4s 1000 .... 02 Seaboard Air L aj 1000'.... 40 10000 .... 40 1000 .... 41 8000 .... 40 2000 .... 41 1000 .... 41 Seaboard Air L fd 2000 .... 41 2000 .... 41 6000 .... 41 Southern Bel Tel 6s 1000 .... 88 Southern Paclfls fd 10000 .... 16 2000 .... 10 8000 .... 18 1000 .... 75 1000 .... 75 6000 .... 75 Southern Pao cv 4s 6000 . .. 78 18000 .... 78 0000 .... 70 8000 .... 70 1000 ... 704i Southern Pac cv 6s 1000 SOOO 1000 16000 2000 2000 3000 5000 2000 0000 10000 3000 48 48 48 48 48 48 48 48 48 48 48 48 2000 2000 1000 17000 5000 5000 2000 10000 4000 SOOO 84 84 84"u 85 84 84 84 84 84 81 2000 2000 2000 10000 8000 3000 1000 12 12 12 72 72 71 71 15000 4000 1000 2000 2000 ..100 ..100 ..101 ..100 .100 Southern Pacific T 1U00 .... 73 South Railways 4o 1O00O .... 58 5000 .... 58 6000 .... 58 1000 .... 58 1000 .... 68 1000 .... 58 1000 .... 08 South Railways 6s St Li & Satf Fran A SOOO .... 88 6000 .... 88 2000 .... 08 4000 .... 08 4000 .... 68 SOOO .... 08 4000 .... 88 2000 .... S8 1000 .... 08 1000 .... 68 1000 .... B8 1000 .... 68 0000 .... 38 SOOO .... 68 4000 .... 68 1000 .... 68 St Li ft San Fran B 7000 .... 69 SOOO .... 08 1000 .... 60 St t. ft San F gm 6s 3000 .... 02 St L. & S West R en 6000 .... 53 SOOO .... 64.. 6000 . .. 84 Texas Co 6s 2060 ....100 1000 ....100 2000 ....100 Third Ave R It aj 2000 .... 28 T St L. & W Ry. 4s 2000 .... 45 Union Paclflo RR cv 16000 .... 86 6000 .... 80 6000 .... 85 Union Paclflo RR 4s 14000 .... 82 U K Of G B ft I '21 2000 .... 04 10000 .... 04 10000 .... 04 1000 . . . 04 U K Of G B ft I rets of '29 1000 .... 01 6000 .... 01 4000 .... 01 1000 .... 01 1000 .... 01 10000 .... 01 U Kof O B Si I '37 3000 .... 86 8000 .... 80 1000 .... 80 2000 .... 80 1000 .... 85 U R Of S Fo Un Ct 10000 .... 25 10000 .... 25 U S Real & Imp 6s 1000 .... 76 1000 .... 76 20000 .... 75 U S Stlel Co Es Bait & Ohio Tol 4s 1000 .... 40 Beth Stool Corp ti 1000 .... 85 1000 .... 85 Beth Steel C 5s '36 2000 .... 83 Brk Rap Trans 7s 1000 .... 45 2000 .... 45 Brdy ft 7th A RR 4a 5000 .... 65 Central Pacific 1st 10000 .... 72 5000 12 Chen & O R It fd 2000 .... 83 Ches & Ohio It 4 Via 1000 .... 15 Ches&Ohlo cv 4 Ha 2000 .... 15 10000 .... 15 15000 .... 16 1000 .... 15 3000 .... 16 8000 .... 75 1000 .... 70 Chei & Ohio 5s 3000 .... 00 Ches & Ohio cv Es 2000 .... 80 2000 . . . 80 10000 .... 80 Chi & Alton 3s 3000 .... 31 10000 . . 33 .-,000 .. 33' noon .... 34 Chi II & Qulncy 4b .Minn 10(11) 200(1 noon 5000 .'1000 4000 2000 2000 13000 200O 10000 4000 1000 5000 1000 1000 04 04 04 04 01 04 04 04 04 04 04 04 34 04 04 04 04 Imp Jap Govt 2nd 10000 .... 71 3000 .... 72 3000 .... 73 15000 .... 71 10000 .... 71 Imp Jap Govt 43 0000 .... 60 2000 .... 58 1000 .... 58 Intcrboro Met C4'i 5000 .... 18.. 6000 18 2000 .... 18 17000 . .. 18 5000 .... 18 Intorboro Rap T fd 5000 .... 63 11000 .... 53 , 1000 .... 63 Kan City ft S Ry 5s 1000 6000 1000 2000 3000 5000 3000 . A 10 70 70 70 70 70 70 2000 4000 2000 6000 2000 1000 6000 84 84 84 84 84 68 84 St L Iron Mt ft So R A G Dlv 4s 3000 .... 68 St b & San Fran aj 6000 1000 1000 31000 2000 6000 7000 1000 2000 1000 1000 07 07 07 00 06 06 06 05 08 05 07 6000 7000 2000 4000 4000 10000 1000 6000 1000 6000 2000 6000 1000 62 62 62- 62 62 62 62 63 03 63 63 63 63 St Li & San Fran In 6000 4000 10000 43000 10000 3000 10000 6000 48 48 48 48 48 48 48 48 Utah P & L. Co 6s 1000 .... 81 ; Vlr Car & Chetn 6s 6000 .... 09 Virginia Rallys Es 2000 ... 82 Wabash R R Co IbI 8000 .... 88 ' West'n Maryland 4 s 1300O .... 62 2000 .... 62 1000 .... 52 2000 .... 62 1000 .... 62 10000 .... 52 Vi I West Shoro R R 4s 3000 .... 71 ' Wilson Co cv 2000 .... 02 6000 .... 02 1000 .... 02 Wilson Co 1st . 4000 .... 06 L. S & M S 4s of '28 1000 .... 84 L S ft M S 4B of '31 1000O .... 82 Lehigh Val R Co Ca 1000 .... 00 6000 .... 00 Louis & N R R 4s 2000 .... 64 8000 61 M.mhutan B Ry 4s 1000 . ..06.. Mich Cent RR D 4a 5000 .... 77 1000 ... 78 Minn & St L M Eb 3000 .... 47 Mo K C & T ct 4 14 5000 .... 26 6000 .... 20 1000 .... 25 I Mo Kan & Tex 2nd 6000 .... 32 Missouri Pac gm 4s Liberty rts Llborty 1st 4s. ... Liberty 2d 4s Liberty 1st 4s.. Libert 2d4s... Liberr .'Id 4 a.. Libert 4th -in.. Victor .iy,H Victor 48 tHBh (Ml. 10 00.80 00.50 iu.no no.so !2.!l 1 01.00 07.72 07.711 Low 0.'.00 00.40 00.30 01.30 00.00 02.80 110.70 07.00 07.00 1 P. O.i 00.80 00.32 01.38 00.64 02.80 90.80 07.00 07.70 CORN MOVED UPWARD AFTER EARLY DECLINE 1 Strength Developed on Recov ery in Cash Values Oats Chl B ft Qulncy neb 5000 .... 80 Chl . East 111 It 4s 1000 .... 24 1000 .... 24 Chl & Ort West 4s 2000 .... 65 4000 .... 65 4000 .... 85. . 100O .... 65 1000 .... 50 1000 .... 05 C M & St P cv 4s 2000 .... 71 1000 ... 71 1000 .... 72 C M At St V fd 4S 5000 .... 50 5000 .... 60 1R000 .... 60 14000 .... 50 M000 .... 60 5000 .... 50 0000 .... 50 10000 .... HO 4000 .... 50 14000 .... 60 .1000 .... 50 3. '000 .... 00 c M& St P gm 4 4s 1000 .... 78 Chl & N West'n 4s 1000 .... 05 Chl R I & Pao fd -ool .... 05 2000 .... 05 2000 .... 65 Chl U I & Pac 4s 1000 .... 72 Chl I'nlon Sta 4Vjs 001) .... 78 1 hllo Copper Co 6s 1000 .... 70 Chilo Copper Co 7b 7000 ....105 10000 ....102 100011 ....102 Chinese Govt IIu-K Hallway Es 1000 .... 41 (of NY 4,4sof '67 1000 .... 05 Citv of Paris B 6s 1000 . . 01 1O0O 1 111' j iUUU . ... Ulk 3000 0000 2000 1000 1000 7000 2000 10000 10000 2000 57 57 67 57 57 57 57 57 07 57 Rallied After Low Start 65 Missouri P Bs of 1000 .... HI Mori Esx RR 3Vj3 4000 .... 70 Natlon'l Tube Co Cs 1000 .... 01 NYC & II RU3'j8 0000 . 2000 . N Y C & 2000 . 1000 . NYC 1000 3000 0000 8000 4000 1000 1000 II 00 00 RR 4s . .. 7.1 .... 70 ft II R R fls .. . 03 . . 02 .... !! I)-TM 0J' 0.' N Y N H & Hart Cs 2000 . 71 100O . .71 2000 ... 74 0000 . 74 N Y I. II P Co Ea 1000 ... 78 N Y Stato Hys Itfs 1000 28 N Y W C & 11 4'i.a 1000 . .11 New Orlf.aiif & T la 2000 i- Now Orleana Toaa & Mex Rly Bs 5000 . 64 0000 53 N Y Telephones 4 2000 ... 70 N Y Telephones Cs 1000 .... 04 6000 .... 04 2000 .... 04 Northern Paclflo 3a 10000 .... 64 1000 .... 63 Northern Paclflo 4b 13000 .... 75 4000 .... 75 4000 .... 75 1000 .... 75 Norf & West cv Cs 15000 ....101 5000 . . 101 mono 101 nuoo iot. ,10000 ...luiji Chicago, Feb. 24. Reflecting a re covery in cash values, corn developed strength today following recessions carl. Sentiment here was bearish at the outset on n drop in hogs and for dgn exchanee. May led the decline nt the start, but (ommisiion houses became good buyers and forced pit shorts to cover Inter. Tho drmand for the actual was reported to be better. Offerings from the farms con tinued small, but supplies in first hands lire known to be Inrge. There is no assurance, however, that nnv oonRiderable amount of the grnin will be forwarded before farmers devote their attention to work in tho fields. Labor news from Argentina wus uu favoruble. OntH rallied with corn nfter a lower start. Local operators and commission houses oold nt the outset, when weak ness in rye wns 11 benrish factor. On tho break commission bouses executed resting ordeis nnd there was also cov rring by local shorts. The premium on the cash nrticle wob hlglier. The visible supply of oats in tho United States is 10,447,000 bushels, against 20,000,000 biihluds n ear ago. Leading futures rnnKCtl as follows, Wat. Open High Corn (new clellwMl- Mny . 1 aos 1 an July . 1 27'4 1 28 Oits Muy . . 7T 78V, July ... 70 li rom Muy ..34 00 34.00 Lard Mny . 20 00 20 02 Julv . 21 05 21 15 Hlbs May . 11 IB 18.15 July . . 18 50 18 02 Bid tAkd Low 12.30 Close 1 .10 1 204 77 70 1.30S 1.27 i 7t'4 1.30W 127 7fi4 71 33 00 33 00 34.25 20 31 20 80 20 R0 20 00 121 05 21.80 1R 00 1H 05 IN 17 tlB.55 18.20 16 05 DIVIDENDS DECLARED Tackard Motor Car Co , quarterly of 14 per cent on preferred, payable March 15 to Block of record Peuruury 10 Owens Uottle Ca . quarterly of 75 cents on f-emmon and Si. 75 on (referred, payable April 1 to stock of record March 22. Dorden Co,, quarterly of 1H per cent on preferred, payable March 15 to stock of rec ord March 1. American Can Cc, quarterly of I'm per cent on preferred, payable April 1 to stock nf record March 17. Central Leather Co.. quarterly 14 cem on uri'ierri-a puyaoio April 1 nf record MarLh 1 VIorcw-Arr t Mutor Ci r ' , l.r tent on iirtfarrnl j'l.ul tuik ul recorJ 21nn& 15, Tier to stock iiuirterly " April 1 to ", i $( -j: vri 'i New Issue FIANCE Internal Loan of 1920 Price 1,000 Francs per 1,000 Franc Bond may be pur chased with dollars at rate of exchange fixed each day. Redeemable by semi-annual draw ings within 60 years at . rate of l,50O Francs for each 1,000. Exchange were normal, Americans investing in this Loan would pay about $200 per 1,000 Franc Bond. At present rates they pay from $70 to $75, ac cording to current ex change. Denominations - 1,000; 2,000; 10,000; 20,000 Francs. Interest 5 Payable Semiannually. jiju.jj i mj.iM.ii.ii.il! ji inti-r jj niiji n nir -1 -- , ---- - - m i mrj- 'Vi Free from all French Taxes Send for Circular Subscriptions Taken By Bonbright & Company i Incorporated MORRIS WISTAR STROUD, JR., Manager 437 Chestnut Street, Philadelphia William P. Bonbright Bonbright & Compan? & Company 16 George Street 9 Ruc Soint-FIorcntb London, England par,-Sj Francs we make it our business to Understand iiMi))lilmil""lll iJI MI The World Mat "IIIIIIIIIIIIIMII iii;iiiiMiiMiiiiiiiim' $0 L pj P'fff y . .it sV !. . -4 V -f V "" "" """ .,. If ' '"""" - ,,lll.Mlllllllllllllll.llll' In order to fit itself for worldwide usefulness to the business community, this bank has devoted much time and study to familiarize itself with the principles and requirements of the various branches of industrial production and distribution. A shipper, manufacturer or merchant can discuss his needs with the officers of The Philadelphia National Bank with the assurance that they are thoroughly at home with his problems. This firm grasp and ready understanding of our customers' requirements have been an unfailing source of assistance to them. N THE PHILADELPHIA NATIONAL BANK 4.2.1 CHESTNUT STREET De Beers Cons. Mines, Ltd. Controls about 80 of the world's output of diamonds. Has paid more than 390 in dividends since 1910 Paid 80 last year on the Eng lish shares of 2-10 par. Is one of the world's strongest companies. Its securities always in large demand are among leading issues on the Paris and London Stock Ex changes. Circular on rcquett Bam bcrgerBros. Mtmbiri b'tw York Slock Exehant 66 Broadway, t'w York Charles J. Webb. & Co. Wool and Cotton Yarns 110 Chestnut St.. Philadelphia. Pa. NAGLE STEEL COMPANY STEEL PLATES AND .IIEETS Pottbtown, Pa. Phila. Ofllcc, 1111 Morris Building HYIMULICnipnDC HrXHIHERYKLrHllO We are equipped to do tho work at your plant and save you the expense of long tie-up. 'bona Wal. 1814 and Main 3444 W CIS CflttSTNUT STREET W ImtlnMi Machinists' OIO CflttSTNUT STRKET TAX RETURNS I. Franklin Howard Accountant Choix! Hprnrr D241 825 Lund Title Uldf. Service to Business Men Thirc National Bank Olipofcltr llrnui. Mri'it Million Ti-rre llniitv, I ml & 1'iiMrrn Ss, 1015 I nltnl (lui. A l.lri. IU IU1S TrniifKseo I'onrr fl. UiOi I ml. No Trnc As, IDJj I.I. liny, A Dire, (oun (In. 103; (iu. Ituy. & l'wr. Sm. 10.14 HENRY D. B0ENNING & CO. BTOrU KXCIIANOIS Ilt'lLDINO Dlrn-t l'rlvalo Telephone tu New York MrmbrrH I'll II a. ritock Kiclianxs Stockwell, toilson & unvill Certified Public Accountants J-ond TiUe BkIB., Philadelphia There arc openings In nearly all branches for skilled mechanics. Steady work; good wages; excel. lent working conditions. A large number of the ways arc covered. NJbW YORK SHIPBUILDING CORPORATION CAMDEN, N. J. Anplv nt Employment DepartaeiA at tho Yard . ll ' ' h tJ A M r , iS ; a m I ' P fl xitL,. twi. dlisjsHMki las 3ei,jL Wt3i !35SW?WSftij .-tAs,A. ,ik:amimKlrUM.
Significant historical Pennsylvania newspapers