& w v rsii V, ' " uj i3 Hi if. I 1., SS w EVENING' PUBLIC OjEDGER-PHILADELPSIA, MONDAY, ftPRlfc 12 1920 " ('. I it'v. '''- , ,Mt 6" MunatrcmeHf. tMmerald Oil ,v,Tki Company is singularly fortunate , M Management. Mr. A. J. Dlescher, WM President, was for years a prom- ffitivnt figure in the Cities Service or ..r,fiiitlatioa. lie is favorably known ; nn experienced ana succcssiui op- q ftor. lie Has trie assistance ot mr. vijBverett Carnenter. a ecoloEist of -.rsfwding. .They have built up an effi. S'.HieUnt and afrereRsive organization. t,i,Th officers and directors of the , company are neavuy interested in ."' the stocks. Wc offer mid recommend its ; 7 PREFERRED Stock at $100 per share, giving free one share of Common with each share of Preferred purchased. Js! Send for Special Circular PL-E and .' J lien nntat'a lecnnrr. Csat a a A 4k luifliiii LnxiiiiAlr jr. I'A VNgifld reunion x uu 34 Wall Street New York PRICE MOVEMENT EXTREMELY RAGGED Each Croup Pursuod It3l Own Course, Soma Few Making Now Tops B- New York, April 12. Kvcnts over the week-end, particularly the exten sion of tho so-cnlled outlaw rnllronil strike, was respotiHlble for tho IrrcRti larlty prevailing In today's stock mar ket. Each group pursued Its own course giving n very rugged appearance to price movement. There wns no actual weak ness, althouch at different Intervals the trend wns distinctly reactionary. Itathcr to the contrary, the general list enjoyed an undercurrent of Htrcngth, Hiifliclent, at least, to keep tho hear party mot of the time in check. Many cross-currents developed during the day. For Instance, the good Influence of the Initial offerings of call money nt 0 per cent, against last week's dual rate of 10 per cent, was offset by the weak ness of foreign exchange, heaviness of Liberty Ilnnds and further heavy gold ISPISniSllirarainiairJiainiiaMflll I engagement for export to South' Atner B lea. The rHilroad fctnke produced hesitancy rather than weakness, in that the old axiom of "never sell stocks on strike news," wns to n large degree strictly iidhered to by the benr con tingent, nlthough this element wns in clined to make capital out of the litgh rates the big mil systems are being com pelled to pay for their money. While the general list floundered about iu nn uncertain fashion n num ber of specialties mndo new "tops" for tho current movement. Prominent in this connection were tho sugnr shares, nnd such speculative specialties as Vanndium Steel and Tressed Steel Car. These, with the shipping nnd food shares, also secondary metals, were nhniit tho onlv Issues to show consistent Support nnd extending recent advances. .Most of the uuui active lenders were rxtremely irregulnr. There wns a con siderable backset in many oi the recent speculative favorites nfter the irregular start. Crucible Steel lost 7 points: General Motors, .".Ms; the oils 1 to !i points, nnd the equipments nnd related specialties about as much. In tho mid day rally most of these losses were re trieved. Vrices, however, reacted again when call money rose to S per cent nnd exchange became more unsettled. United Kingdom of Great Britain 5Y2s, Due Nov., 1921 Mist, Yield 9 , Those bonds are direct obliga tion of tho United Kingdom of Or eat Britain nnd Ireland. Secured by deposit In Now York of collateral, Payable nrlncinnl nnd Interest in U. S. gold p Actively traded In on New York f Stock Kxchnnge. Further I'arttculara un AppUcaHon BIOREN & CO.! BANKERS 410 Chestnut Street j Members New York ami Philadelphia j BlocK l.icnantr I iMranMiiiiraiiBnniraiffimTamiiraiBra NEW YORK STOCK EXCHANGE TRANSACTIONS .80 1 I S 3 It 4 7 R 7 10 7 8 5 7 Japanese Govt. Bonds 4s due 1931 Yield about 0.38 4l2s due 1925 Yield about 0.78 littailcd Circular on request German City Bonds German Industrial Bands Foreign Currencies and Exchanges NEWBURGER, HENDERSON & LOEB Members New York and Philadelphia Stock Exchange 1410 Chestnut St. TRADEiRREGULAR IN CURB MARKET T)lv. Sole In J (100 100 too too noo 11500 191 4800 3000 1400 1000 100 200 300 3 100 9700 100 1000 MOO 300 1300 100 100 300 5400 2B00 1200 700 S00O MOO .100 400 4000 100 800 200 100 1000 100 7 41800 3 HO 2200 100 4 100 .. 800 3S0O 18100 i 100 800 100 100 200 400 .TOO '.00 100 400 1100 1100 100 1700 300 200 100 1C00 200 300 7 600 8 1000 200 0 1390 300 1 50 tilth . Advanoo rlumely . ... 43H Advnnce P.umely pf . . Mft . Alaska Gold Mines... 2i . Alaska Juneau O M.. 3)4 8 AJiuc Rubber 70 8 Am Deet Sugar 7M It Am Bosch Magneto. . .12114 . Am Can 4816 12 Am Car & Fdy My, Allla-Chalniers 44V4 Am Drug Syn 13J4 Am Express 145 Am Hide A leather. . . 25 Am Hldo & Leather pfltS Am Ice 46 Am Internal Corp.... 101 Atn-I.a 1'Yn.nco Eng .. 12 Am Linseed 91 Am Ijeomotlve 10814 Am Ship & Com .... 22 4 Am Smelt ft Itof 8I; Am S-nclt & Uof pf.. 95 Am Smelt Sec A 8214 Am Steel Foundries.. l'At Am Sugar Ref 13814 Ant Sumatra Tob 98 J4 Am Sumatra Tob pf..!05 Am Tel & Tel 0 Am Tob nee temp ctfs CH Am Woolen 1MV4 Am Writing Taper pf 48H Am Zinc Iond & Sm.. 18 Anncondn Copper .... 63 J4 Assets ncnllr.atlon ... 5 Atch Top & Santa Pa. 81 Atch Top & 8 F pf.. 78J4 7 Atlantic Coast T.lne. 87 4 10 50 Motor Issues in Demand With out Material Change Price in N. Y. Central R. R. Tft Serial Equipments Bought Sold Quoted PAUL & CO. Member IMilln. "lock lUrlmilc 1421 CHESTNUT STREET New York. April 12. There was a good deal of irregularity in the trading on the Itroiul Street Curb, some groups of stocks being active and strong, while others were pressed on the mnrket at concessions, Most interest wns at tached to the urgent buying of CuOau Americnn Sugnr. which ndvnnced irom ."II to 00 during the forenoon, eqillll to (WO for the old stock. kllt'll ,,!'. i. K"'(l ' I' 11111114 . ,11' III1J- tor stocks, although those issues did not materially iiltcr their trading positions. Submarine Iloat was lirm, with bales at 14H- to 1.". American Safety Ilnzor sold down to !)". the biying movement, which wns n feature of the trading In the last week, being suddenly checked. Petroleum Nsues were generally lower, nlthough some of those stocks devel oped strength nfter early declines. SImms I'etroleum sold down to 27-Tj anil then rose about 1 point. Island Oil failed to maintain the strength which followed the announcement of the open ing of new wells and declined to 1 14 White (il wns steady, JS:h to -'.. INIIUSTKIAI.x t ,ir l.lk'ht . . I ubn-Ainr husr i.ru'u OIh Urate AIh ur'f . . 1 1 1 1 r Itubher . KotiMi" 'iiihr Vort r Motor . ivrf,. ( ,n Tin- rrtrtnmn II.. kim.iv Mill. STjhmartn Mont . I iHnlf Film . I S IIlKll .Sp.'d ranging from i. lllsh I.or C'inso '.i ? Sit .' as -S rii'i mi n IS IS IS -" 2S 'J' l: liii In'-j Si 1S't lS'j S.I S-J !- .IS :i' .IS 1 :iS 4 12 S US l-'S 1R HH IIS J 0.1I l.Mi:i'K.M)l tv It BOLES &WE3TW00D Members I'luta. Stork F.xchnnae INVESTMENT SECURITIES Land Title Dulldinc, Phlla. Tolophonc, Locust 2016 New York Central Equipment Trust 7i. due 1928 at 100 and interest Edward Lowber Stokes 20 S. 15th Street t. w- r iPennsylvania Railroad Co. ', 7 Bonds New Issue 100 and Interest EDWARD V. KANE & CO. Morris Building imr 13 m I ,GE0. A. HUHN & SONS Hf'- I ' STOCKS AND 1IONU3 Bv U ttmb.r or the rhll1lphl. Ntlr Wm'-'Y 1 Tork and Chloeo Stork Eichani-M nW' a Nw fork J-ottnti Rxrhnnir? Ujj' ' a c.omtnlislon Orders Executed In ,LV. .. LLI.KVI'K L'CIUUT 111. III. 1 -; . n -1 mi ... Ho. tori lonun ' ltl -..! D itf. oiMli?ri A. o n nun. on (HI I.Ik limn l't i.l nru' k Oil Horn" 'ill Horn.- l'i(rolum ... 1 In'T I', trolum . . . . I Man.) (Ml ... . I Ka 1 nunly Oas . I 1 niar 1 nl ('ml . Itiltnora . ., Ii.-I ItlM Oil lit n (.H1 s Mjuoyuli Oil -.Ily ml 1 -p 11' r I'd I wiitnton ( 'II Txun lUncer . . . I. vim I 'f. xhh r' illr Ciml I n t il Txhs "II. . Win!- nil . I MIMM! I Mi.l i Mrlt raliiiibln ! At .in H H. ic hr lilMd" 11 e l-il .... l.otn tloMnn k .Mont.itia 1 niiil Mltilne . ,. 1 hii.mM i'iippr 1 ( HtirlPlarlu Al . . ... I'urwn KM . . 1 'rfi'oii (liilil .... ('rprpnt Mr.oNnmarii I rmiil" Exlcniiion I KtirV-i ( ri" run I Kur-l.i Holly I Porty-nln" Minlnr Km inn Hllvir I (jiitilfn rtati Kxp ilolil ('ona 'liold Ivlnptnint ioi. Kouriih (Inlil Mranr O0I1I Silver Plrl, . . Hi 1 In .Mining . . . Trmlio Extension Knnv nivlrt lllr.Vamna . . Marsh .Mlnl'iK . . Moihr Il Murray Mott . nphlr HIIvbi Hx ("nni. ... Itui-hi-ioor .Mlnen Hope (iroup Sin Tov . . . SiHer Kim of Arlx ,ii.r Kln UIvIiIk Kltlkk .Mining 'IVinotMh f'ftrih lloy 'I onnph IMvIiIp Ton pah Kxtennlon . I'mnpili .dm Putl r . . . Tonoptih M'dwny . . Tr.noriali Montana Tnnopah ni"ciiB Kiila I'nlierl llastern irtory . Went i:ml (' ... riilte CapB White Caps nxtcn.lon .. . Vt ilhrrt Yi rlrutoti ... . . ', NT OILS . 4f. 1t (I US tl 41 ,sS SS sS US IIS IIS nS hi; ns :is ss as :is :i s :i a a 500 100 M00 2200 200 200 4100 400 090 2 J 100 200 3500 .100 16100 100 400 3300 1000 100 100 400 100 3700 100 300 100 500 100 100 100 1400 300 4300 1200 COO 700 100 8000 3500 100 1300 3000 100 100 200 2100 800 2900 5100 100 2800 300 1700 100 200 too .1110 4 3110 7 4100 '! 1400 1 20 2100 C ion 35 0 Atl Gulf & W I B S..171M Atl Helnlng 7"o pf...l00 Baldwin lxcomottvo. .14t'4 Baltimore A Ohio ... 33y, Ilnlllmoro & Ohio pf.. 45 Barnsdatl. Class A... 8 Barrett 130 Bethlehem Motors ... 31J4 Bethlehem Steel B... 9tyi Booth Fisheries llyi BUlyn llnpld Transit.. 1$H Bklyn It T ctfs of dep 12 Brims Term & P ... 7!4 Burns Bros 126 Butte Copper & Zinc 0 Butte & Superior Cop. 27(4 t'addo Central O & R 23 H California Packing . . 81 California Petroleum. 38H Canadian Pacific ....122U Central Lcnther 87J4 Central Leather pf...H3' Chandler Motors lfi Cliesapeako & Ohio... 56 Chi & 13 1 pf K T ctfs Chicago & Gt West... 8ya Chi Mil & St Paul 36J Chi Mil & St Paul pf. 52 !4 Chi & Northwestern... 85 Oil Pnoumatlo Tool... 100 H Chi n I & Pac 35yJ CM R I & P 6 pf.. C3yi Chile Copper 1 Chlno Conner HtV Coca-Cola 30 U Colorado Fuel & Iron. 30 Columb Gas & Eleo. . Col Grnphophono . . . Consolidated Gas . . . Consolidated cigar . Consolidated Textiles Continental Can . . . Continental Candy. . . Corn Products Ref..l02J4 Corn Prod Ref pf....l04J't Cruclblo Steel 207 Cuban-Amer Sugar. . .580 Cuba Cane Sugar ... oOys 7 Cuba Cane. Sugnr pf . . Denver & Rio Gr pf. 1 Dome Mines lilk Horn Coal f Klk Horn Coal pf... 7 Kndlcott-Johnson pf.. Hrle . Krle 1st pt 5 Famous Players-Ij . . , 3 Federal Mln & Sm pf 3 Flak Rubber . Frecport Texas . Gaston Wms & Wig.. 6 General Chem pf . . . 8 General Elcctrla . . . . Gen Electric Rts... 10 I'xneral Motors ... 6 General Motors deb. General Motora New Goodrich B F Ot Northern pf . . . . Gt Northern Ore ctis 39 ?4 Gulf Moh & North 0 Haskell & Barker Car 7414 Hupp Motor Car .... 21H Iltlnols Central 8&3 Indlahoma Ref Co... 8?i Inspiration Con Cop. Interboro Con Corp.. Inter Con Corp pf. . . Int Agrlcul Corp.... Int Harvester Int Mer Marino Int Mer Marino pf. . . International Nickel.. Inter Nickel pf International Paper.. Iron Products Corp.. Icvvel Tea Jewel Tea pf Jones Bros Tea . . . K.in city Southern. . Kelly-Spg Tiro .... Kelsey Wheel ... . Kcnnecolt Copper KcMttone Tire & 6 04 4BH 87 08 Vt 38 yi 03 13 . 82 J. . 12M . lt' . 27 U . 42 .100 . 13 . 2114 . 85 Ji . 30H . 3K . i7H . 16s . 04 . .155 . 2T4 ..372 . . 75 37Ks . . 71 77 . 50'i 4 J4 . 15!-s . 24 .139J4 . 3814 . 9714 . SSl'i . 87 . 84 . 47 li .11014 38(j 74 .... I0?i ,...1331i ... f7 ... 3Hj Bub 36$ Lackawanna Steel . l.eo Rubber & Tire. 81 31 2:30 Net tjw (NYlm) Chge, 43 6IT4 214 2Vi 71W S3 120 47 J4 113 43 K 13 H 145 2H 11414 40 lqtri 19 89 yi 19414 22 C8J, 95 8 yi 47 130K 7(4 103 90 li 5M 131 48', 1815 02 Ht 5 81 7814 87 169 109 1.19 33 45 4814 m 30(4 97 1U5 1 12 714 120 0 20 14 2.1 81 34 13114 8515 10314 1M14 5514 0 814 35 52 85 104 34 C3J4 18& 37 35 39 63 47 H 80 08 3014 8215 12 H 99J4 104 200 575 35 14 82 1214 10T4 26 42 100 13 2114 83 39 30 27 in 94 155 2H 300 75 30 0914 7714 3814 0 7114 2114 89 8 5714 414 1514 23 n 138 37 90 2174 87 82 47 115 38 14 2314 t0?4 133 S5 31 37'i 70 34 Sates I) Iv. in t 4314 14 9J4- 14 314- 14 S14- H 74- 214 M SJ4 , 120 W 47H- 1)4 mv4- 2 43- 1314 145 0 25 14- 1U14 - 4 49. - 1 101- 314 13 - 14 soli- X 106 - 14 22- OH- 95-15 8214- 14 4714 y 13714 14 87)4- 114 10414 1 9014- Vt 0140- 13114- 4 4814 14 1814 .. 0214- li 5 81- 7814 14 871 169 - 314 10914 - 14 139 5 33 - 45 - 14 4814 K 128 2 3014- V 97 - 214 1114- l' 1- 12. 714 14 126 'r - 2 - V 23- 81 38 - 14 12114- 114 8514- VA 1 1MJ4 - 14! M51S- 3 I 5514- 1 0 814 .. 35- ?4 4214- 85 104 - 415 34- 114 14- 14 is y, 87 - 14 M - 1 30 03 - 114 47- 114 80-1 08-1 36- 1 92)4- 214 1114- 102 2 104- 14 263 - 7 530 40 5514- 14 82 .. IStf- 14 1114- 14 20 !5- !4 42-1 100 13 14 2114 ' 85 1 39- 14 30- 7 1 , 10 04-1 155 - 14 m- 14 386 714 75 - 30- 0014- 77- ?4 3s 14- 15 9 73 - 1?4 2114- 80 - 14 8- 14 5S- 14 414- 14 1514- 24 138 14 3714- 1!4 DC - !4 1 22- S7 82 - 114 47 '4- !4 110 -1-1 i 3815- 14 i 24 i 10 - 14 133 - 15 85 - 2 31 t- 31-1 290 3 SO Lehigh Valley ...., 4314 High 3 1.10 Net t,ow (NTtm) Cluce. 200 13309 090 400 190 109 11490 7 4 10 100 1 75 100 2 100 .. 190 100 11100 400 5300 1 20 2600 100 400 1009 499 300 200 200 800 100 7 7790 0 300 5 100 500 1 200 .. 400 ... 500 400 2 59 600 7 5 4 40 "a s '5 0 7 4 3 4 i 8 S 5 800 300 1200 1000 200 1300 100 110O 200 8600 4400 100 1500 300 100 100 400 0200 1100 400 100 400 801 8000 100 8300 5300 200 3000 300 4400 8700 100 5400 100 1900 400 100 1400 100 200 200 1400 204QO 500 5300 1700 290 300 400 145 330 600 3400 19000 SOO 300 800 100 2900 2300 500 0 2700 100 5 200 1 50 600 8 1590 800 300 2500 100 2000 100 600 1000 4000 200 6500 Liggett & Myers pf..lC3 Loewa Co , , 36 Loft Corp 20 1,0090-WUcs Biscuit. . 56 Louisville & NnshvlllelOS Mil cl: ay Cos pf 64 Manatl Sugar 149 Manhattan Shirt ....30J4 Marlln Tarry 2914 Maxwell Motor 3614 .. Maxwell Motor ctfs.. 30 . Max Mot 1st pf ctfs.. 56 19 Mexican Petroleum... 202 2 Miami Copper 2414 Middle States Corp... 3514 Mldvale Steel & Ord.. 47 J4 Minn & St L new .... 1414 Missouri Kan & Toxas 8 Missouri PAclflo 20 Missouri roclfto pf... 44yi Montana Power 06 Montgomery Ward ,. 3814 Mulllns Body 4614 Nat Aniline & Chom. 0015 National. Biscuit 114 National Lead 9314 New York Central... 7114 N Y Chi A St L 3d pf 47J4 Nevada Con Copper. . . 14 Nat Conduit ft Oiblo. 13 Nat R R of Mex 2d pf Sh New Or Tex ft Mex. .. 41 New York Dock 4114 New York N H & 11. . 33 y4 Northern Paclflo .... 7814 Nova Scotia S & C... 6614 Ohio Cities Gaa .... 43 Okla Prod & Ref. ... 8 Oregon R R & Nav.. 8514 Owens Bottling Mnch. 63 Otis Klovator 143 Otis Steel .'2 Paclflo Gas & Eleo... 5114 Pan-Amor Petrol ....10714 Pan-Amer Petrol pt..l02 Parish & Blngnam... 31 Pennsylvania, R R... 41 Penn Seaboard Steel.. 34 Peoria. & Easter IV Pens Morquetto 2714 Philadelphia Co 39 4 rierco-Arrow Motor.. 00 Pierce Oil 19 Pittsburgh O of P. . . . 02 Pitt C C A St L.... 73 Pittsburgh ft W Va. . . 3014 Pond Creek Coal .... 31 Pressed Steel Car ....113 Pullman 120 Punta AleKrc. Sugar. .101 14 8 Railway Steel Spring. 10014 1 Ray Consolidated Cop 20 4 Reading 84 . Remington Typcprlter. 87 . Reploglo Steel 53 0 Republic Iron ft Steel. 113 . Repub Motor Truck.. 40 . Royal Dutch NY 107J4 . St Louis Southwest pt 28 . St Joseph Lend 1774 . St Louis San Fran... 2214 . St Louis San Fran pf. 4614 , . Saxon' Motor 18 2 Seaboard Air Line .. 8 , . Seaboard Air Line pf. 15 7 Sears Roebuck Co 234 ,. Shell Trans Trading.. 79 .. Sinclair Consol OU... 42 .. Sloss Sheft H A 1 77T4 7 Southern Paclflo 9015 .. Southern Railway ... -215 5 Southern Railway Pf. . '6J4 . . So Porto Rico Sugar. 293 . . Standard Milling Co.. 160 . . Standard Oil ot N J.. 750 .. Stand OH of N J pf... 10014 i Stewart Wamer Sp. . 48 4 Stromberg Carb 107 7 Studebakcr 12114 7 Studcbaker pf 10(1 0 Superior Steel 58 . . Tcnn Con & Chem... 11 . . Tentor Krult Prod A. 45 43 Ji 103 33 14 1H 55 105 64 143 3014 2014 3614 30 56 1MK 24 3314 4714 1414 814 26 44 Kl 10 10 4 12 Texas Co 209 Texas & Paclflo .... 4214 Tobacco Products .... 71 Transcontinental Oil.. 24 Transuo A Wms Steel. 6214 Twin City R T 3314 Union Bag ft Paper.. 124J4 Union Oil 31 Union Paclflo 11914 United Alloy Steel ... 4814 Unltca l'-rult 21515 United Rwy Invest .. 11 United Retail Stores. 7914 U S C I P A Fdy.... 2214 U S Express 8 U S Food Products... CS14 U S Ind Alconoi 0515 U S Rcultv A Imp... 0515 U S Rubber . . .H3V4 100 3 50 U S Smelt A Ref pf 19 34 - 214 35000 700 500 40900 100 300 1500 000 100 100 70(1 100 1800 2600 100 310 , 700 100 40 V S Steel 105Fs U S Steel pf "2Ks Utah Coppor 77 Vanadium Corp 80 Vn-Carollna Chem . . . 7514 Wabash ' Wester Maryland ... 1014 Western Paclflo 30 Western Union Tel... 87(5 Westlnghousc A Brakcll2 Westlnghou.se E A M 5214 Wheeling A L Krle... 11(5 White Motor 6J Willys-Overland 24 '4 Wilson A Co 74 Woolworlh F W . .125 Worthlnglon Pump .. 8514 Worth Pump pf li... 70'5 37(4 46 86 114 89 71 4715 14 13 5J4 40 46 J4 33 77 J4 65 4314 5 84 0214 143 32 50 104 yi 98 y4 31 41 33 11 2715 39 07 1814 02 73 3014 31 10815 120 97 103 18 82 84 51 111 49 10014 26 1814 21 46(4 1714 8 1515 231 79(4 1(4 77 08 22 015 70 145 740 100 4714 100 118(4 190 57 11 45 200 4114 71 24 C24 33 124 31 H8yi 48 313 11 77 2214 814 0014 0315 05 11 114 40 104 J4 112 76(4 83 75(4 814 J4 30 8714 112 5214 1114 05 24 71 12514 81 7014 4314- 15 103 - 3y4 3114 54 10- 55 1T4 105 - 14 61 145 1 3014- ' 3914 ... 3614- 14 39 - 114 58 - 14 1M14- 24 - yi 33J4- 8 4714- 1414- 14 14 28-1 4414- 14 00 - yi 3714- 14 46 - 14 6614 1 114 - 114 01 - IU 7114- 14 4714- 114 14 14 12 94 5J4- J4 40 - lyi 4114- 3Ji DROOPING TREND IN THE LOCALS Ronowod, Liquidation in Ponna, Railroad, United Gas Im , provomont and 'Others TRANSIT MER KNOTTY PROBLEM Rapid Absorption of Pennsyl vania and Now York Central Now Bonds 32 - 77 J4- 65 -81 0214- 1H 143 3 33 - Ji 5114 1 10414- 1(4 98(4 31- lli 41 - 34 - 14 11-1 2714 .. 38- li 07-3 19 - li 62 - 1 731 3014- 21 109 120 - 87 - 103 - 1- 82 - 84- 51-i Ts 14 1 14 K4 1 (4 1 114 14 lllli- 114 40 - 106 -2b-1014 31-4014-17- N 15(4- 1 234 - 414 7914- 14 4114- 114 77J4- H 881 12 - 5014- :93 13 159 17 750 0 T 100 (4 48 107 5(4 13115 1 100 57- 14 "- 14 45 200 - 15 41(4- 71 14 24 - 0215 14 333 124 - 1 34 1 118J4- 1 48 114 21515 3 11 - (4 77 - 2J4 22(4- 8(5- 14 OS 14 1 A number of soft spots developed in today's local market, nnd the tone of the general list wns heavy. With one or two exceptions, prices were lower with declines extending from smnli fractions (0 over U points. The selling move ment which reached out lo almost nil parts of the local list was without explanation in no fnr ns news nnd developments were concerned, except that it could bo nltributed to tlm un settled state of tho general situation. In quite n few of the local stocks there was unmlstakablo linuldntlou, partic ularly Iu Pennsylvania Unilrond, United Gob Improvement, nnd 011 a small scato in the other locnl utility stocks. Tho heaviest selling wns in Pennsyl vania Railroad, which nppenred to be duo to two influences. One, the appro hcnslon created by the spread of -the strike nnd uneasiness provoked by rea son of the abnormal high rate of inter est the company was forced to pay for Its new financing. Tliu other was the same switching operations observed last week of the selling of tho stock nnd re investing of the proceeds in tho new bonds. Tho pressure depressed the price to 41 , which Is within a frnctlimal range of the low record price made ear lier In the venr. Recurrent liquidation in United Ons Improvement forced that stock back to All 4L., lm ..iintn ninrlr Tn ttirt siflm -JU till lUtt UillUt 1I1UI fi 111 IIM liiv.i ' utility shares, while the selling wns of smnllcr calibre yet mndo new low fig ures. Philadelphia llnpld Transit yielded VKl, Philadelphia Traction to rVPi nnd Union Traction to .11!. An other weak spot iu the utility group wax tn hn found in Amerlrnu (Ins. which dropped 2Vi points to -lli on smnll transactions. Philadelphia Klcctrlc de clined to 1!1." About the only stocks to buck the reactionary current weru IJrlll nnd Klce- tric Htorugo untlery. Xliu lormer movcu up to fi0V6, being strengthened by nn lu tcrestlng nnd comprehensive circular is sued by the business dcvelopincut com mltteo of the exchange, which showed tho company to bo iu a very strong posi tion. Klcctrlc Storage llnttcry made an early ndvnnco to 1121, on rumors of a possible stock dividend only to Inter fall back to 110. Lake Superior Cor poration shaded to lVi . but was well supported. 1 Trnetlon matters' dominated the nt mosphere of tho financial district dur' Ing the half session on Hnturdny Inst. There were tho usual crop ot opinions, nfn ntirl nnn . flnn well. known bnnkcr who linS Int.... nn Infill-not In IllO Infill tmiislt Wit nation, snld, in his opinion the subject Is being nppronciied irom 1110 wrong mm"-. It is too big nnd Important n mntter to admit of personnl nnimoslties nnd prej udices which seem to govern every here tofore discussion of the subject, ho re marked. Ot what ndvnntako is it, ho nsketl. lo the man standing on the corner with three full cars gone past ami no sign of n fourth in sight, to know that some men several yenrs ngo stole something from tho people of Philadelphia which the people with their consent ngrccd to, nnd these men have never been pun ished, nnd likely never will bo. some of them dead? What satisfaction can our man, waiting for n car,, get out of n recollection of such things? He can only use such information to avoid similar mistakes in the future. "What is wanted, said this banker, is service, nnd it can't bo obtnined by mulling over the past, for which there Is no remedy. Those who hnvn this transit mntter in chnrge should face the facts, ho con tinued, forget what enn't be remedied. sink nil personnl nnd political nnimosl ties nnd come to n speedy understand ing ns to how to accomplish whnt is for the best interests of the city ns fnr ns they can sec the light to do so. Rankers sny the rnpid nbsorptlon ot the SuO.000,000 Pennsylvania Vjn-year bonds, nnd tho .$3(1.J.0,000 7 per cent New York Central equipment notes has established n record. Roth of these -large issues were closed out on the wime tiny on which they were oliered to me public. Such bankers ns have been inter viewed on the terms of the offerings have said there Is nothing to criticize nnd agree thnt a 7 per cent basis wns nec essary to itiMiro their snlo. The Penn sylvania issue was oversubscribed n few hours after the first offering nnd .the subscription books for the New York Central equipments were closed twenty four hours after the opening. Philadelphia Stocks becomes not n commercial banking prop osltlon, but rather a matter for capital unancing, xno distinction snouid be kept clearly in mind, Investment loans, are for the purpose ot financing capital needs, nnJ by this may be meant that the proceeds bo used not only for the physical use of the business, but aho ns an nddition to working capital. On tho other hand, the proceeds ol com mercial banking loans should bh used only so far ns tho liquid position ot tho buslucss Justifies, The ono type of loan is more or less permanent or subject to slow redemption as the profits of tlio business permit the 6ther, necessarily elnstlc nnd subject to payment out of, tho liquid assets of the business, Only by thus distinguishing between the two types of loans will our commercial banking system function properly. The tremendous increases in cost, therefore, have fouud many of our sub stnntlnl Industrial concerns nt the point where the expnnslon of plnnt facilities en 11 be properly llnnncetl only through Investment loans. 1110 inmg ran be easily overdone. The lilstory of our re current periods of depression Hnd pros perity docs not warrant other than a careful policy In cnrrylng out expansion plans, nor should industrial Issues bs financed In such a way that If the period of depression ensues n good business would be needlessly sacrificed. Thnt policy Is very destructive In Its effect on business generally. Our whole Indus trlnl history is strewn with the wrecks of reorgnnlzntions nnd bniikrupteles that might hnvc been avoided it n policy of conservation had beeu followed. Wanton depreciation, the needless sacrifice of values, reorganization, loss such an unfortunato method Is very unscientific and wnsteful, for it should be. remem bered thnt given good management tha policy of conservation is, generally speaking, far more beneficial, directly and indirectly, than the policy of throw ing n business with good possibilities on the scrnp heap. In Philadelphia we nave been slum bering over opportunities in the ludus trinl fin eminent field. A product for which thcro is n per manent demand, favorable prospects for future growth nnd earnings; high-grade personnel nnd management, n legal n" surnnce of protection to shareholders given these essential factors and an enterprise in strong financial condition and wn hnvc the basis ot a sound in vestment. It will not be surprising it this typo of investment shall grow in favor in this locality, ns it hns done, in New Kuglnnd, wheu the Investing public is cducntcd up to the merits of such in vestments. Unshackle the dollar and make it work for tho still greater in dustrial progress of metropolitan Phila delphia. ' 11315 05 11314 40 105 J4 112 77 89 4 7514 1 814- 14 10 - 14 30-15 87 (4 A 14 113 - 53!i-1115-67 21 -74 175 t-85(4-4 70yj- Hlfh Low 71fi Am Strs. Mi 11 101 Am Ons.. -11 410i 103 Am llwys pref ... 51 r.l'i 1 BulT & S t r pf . . A I 11 OOORrlll .1 O 5tPi! .11 100 tCuba Ca Sugar., fid r.(! 137 HI Stor..H!lV,11l) 11." Lake Sup 18'.. .von Net p m. chse. UVj.. dV',-21, ." l'. V; 1 A r..v$'si v. (14 lilt 75 '.UT's J"'l III II Ills 7ii .-(1 li!0 18li (U . II Ills- 7."i . . 14 :.:, I 1M- '. j;i ic, 1 1(1 Vi 1 100 Leli Nnv 1)1 Leh Vnl.. IMlflPa K lt. "1 Pit Salt.. 110 Phlla Co cum pf. .v.'.. :i:s 217 Phil nice 'J4's lMr's 240 Phil It T. 'S', 'J.'l 70 Phil Trac fiS 57 V 2.-Ton .Mln 1JJ IU Ml l'n Trnc. .'. .12 nun it a t . 4(tu. .1(1 r.o ir s stuo.Trt lorijc, 10.-.- 1)0 tVnn Stl. SS!) Sll'i Mr:s" 1 Wnr Irnti & Steel 8i 8!i fy, Is 15 Wst Conl m in !) (Net changM made by comparison with Inst sale on .New lorn atocn tixinuncc. Sale s In WINDS 1 :30 Net 11000 IIIkIi I.nw p. m chB 2 City 4s Ml. IMl-i llj Wt'j 's 53 1-5 I.lblJond . .. 2.1 -His . 8S.70S8.24 8S.24 1.14 50 :ilis .... 117.02 07.02 07.02. 20 37 2-5 3(1 4'4s. 1)2.08 01.72 111.72 .44 77 3-5 4th4'is NIMH) ss.il) NN.iu .mi 325 Vic 49'.s.. D7.I4 07.18 07.18 .30 7'i Ms I :i. u S -"li Z r.j. !c l' M in ,'UJ. I'J :.i ' '.IN 1 :is (in Commodity Markets II FOREIGN EXCHANGE New York. April 1-. me lorciRn ! .in 1 A 1 l '!' I'l 11 1 1:1 in n'i :i .in . n i it -H t J 1 U U'alniit U ftBW TOHK OWtCR 1 Droadwajr. N.w York ;l RAILROAD, INDUSTRIAL, PUBLIC UTILITY BONDS LIST ON REQUEST MARTIN & CO. 11 1 WJU.HUT ST. uSSL mJmiam i . 1o (I II 1'. 1:; S'. H 1. '. :i'j WINDS Al iii IiH n . t t n (if 'US . . AnHnni'lit Cop (I nuln Am Oil T4 Unlslun Oiivt (Is nf i c (' & SI I, iu llinUrlih Tire 7s IVnna H It 7 . . Ti xim I'd In V'i Ktorii KIt 7 . 7114 . nnvj IM I no . o:c; sm 7"4 loov, . ms IIRK V: 10 '. n ii :i i'S s s IS 77 L'l II n "atl H 14 :i'j 7H Oil's 01 llll'l 0.1 07 mo us! A'i i 1 1 1," US Il' n:i l.i ii.' l' ,, l i' It l is in :iMi : 3 (. ii R IS COTTON MARKET New York, April 12. The weather reports over Sunday were sufficient to arouse a fairly active rommision house demand for cotton this morning, which nb-orbe.l the early offerings nnd gave the market n generally firm undertone. Flrt prices were 10 points lower to 15 points higher, but the list on ad vnnced about 20 points over the initial levels. There wns 1,'nerpnol nnd southern mill bu.iin;; and New Orleans was ie!a tively f-trong. Heavy ruins were reported iu pint, ol Alabama nnd (Jeorgin. which nddrd to the Imi'ilsh feeling in loeul circle,. The receipts at the ports for the day are estimated nt 15.000 hnles. ngninst 21.2115 bnles n week ngo ami 10,048 bales ii ear ngo. rhnnm maritot onencd concraliy weal. I this mornlnu Itli tho exception of marks, which mnde n runner gum oi 2 points. Pesetas made tho greatest Io.s, dropping 25 points. Quotations wore: Demand sterllnK 3.95 , cables 3 96 W ; franc cables 16.80. checks 16 82; llro cables 26 25, checks 26 27 ; Swiss cables 5 52. checka 5.54; guilder cables 37as. checks 37'i ; pesetas cable 17 61), checks 17.50; Stockholm cames x..id, uiicckh 22 00, Chrlstlanla cables 20.15, checks 20 00; Copenhagen cables 18 6;., checks 14 50; Ilclglan cable 16.60, checks 15.62; marks 1 05. ruble notes 1 80; for 500'b; Austrian, .50. Th market showed exceptional weakness In the Into morning .Sterling 3 cents irom Miuur- LIVESTOCK QUOTATIONS Clilrnrn. April 12 CATTr.F, Ilccelpts. 350H li'n'J Umlrnbln kllllnc jeiirllncs. 25o tu ,10c hUher. tip $11. 7B, mher hft utecrs ami butcher cattln mostly 25o hlnhcr. IlulU steers H1.75W1S.50' lifst hcavyweluht of fered 41li!5. lenl calves. 1162 lowor: top, 113' bull; around tl'-. no mucker or feeder trade. IICK3S Tlecelpts. 5000 head Market active unecnv. 25c to (We hluher: some medium and heaiywoluhl 7.1c up; earlv top. JIB 2.1 Hulk Sit 4 ( I "i 1 r. .-, - smooth heavy packlnit o' J12 30W13 5(1; llaht pies around II'.'., ill. . sill HE I' Itecelnts .",000 head Supply late tettlni; In no ear! trade, local rallroud atrlke a tuatlon allichtlv Imnroiad. Total of 101 cars of meat pruilurta alllpped by t'hlcazo packers l,nt I'rfday nnd Halur-duy. 0 Pn gen 4Vjs 75' t 2 Philn Co 1st 5s ... US 4 Philn Klrc 1st 5s.... ssi. 5 Pub Scrv 5s 01 75 li 7514 Vi os - Vi OS SS I'll Com i:cliaiiK0 National Itnnh, Phil- adelphla New Knglnnd hns shown what can be done with investors' dollars in the building up of New England s in dustries. Look over the list of preferred stocks offered by n representative Ilotoii bank ing house. Cotton goods, woolen goods, lints, soaps, rubber goods, metal goods, watches; carpets nnd ninny others virtually the whole range of New Eng land industry is covered. Why cannot the savings of not only this grent, rich Philadelphia district, but of the whole country, contribute to the development of thnt industrial sec tion of which Philadelphia is the nntu- rnl center? The nnswer is already found in the success which hns attended the financing of some of the recent is sues for Philndi'lphln plants, and every dollar which goes into those pluntu from tho pockets of investors contributes to the growth mid expansion of the indus trial life of the community. A noticenhle fenture of industrial financing nf recent years hns been the large number of preferred stock issues. Cndoubtedlv one of the causes for this hns been the Inrge increase in cos,ts. Where, under ordinary conditions, ex pansion could be financed out of work ing capital, today it is. iu many cases, impossible without nsking the bank to become practically a partner In the business. That is u matter which Is not always nropcrly appreciated by the borrower. There nre many cases when it becomes n serious (itiestion whether working capital should lie converted into slow assets. After that point is reach ed any new investment in plnnt account Stock Dividend by U. S. Worsted ltonton, April 12. A special meeting ot r.tockholders of the United States 'Worsted Co, hns voted nn Inereaso of common stock from 15,000.000 to J8, 000,000. Common stockholders will re ceive a stock dividend of SO per cent, pavable date of which will be declared within a week. Trading in Stocks? If so, hero's nn opportunity to keep closely advised on the trend of tho market nnd what stocks in our opinion jhould be traded in. no. out cocro.v nnd mall lo lis at nncrt. Wn wilt cladlv ftld our DAII.T STOCK .MAItKKT I.ETTKn SKItVICE tn Mm for one week "free of cost" lo proie Its worth to you. Wall Street Statistical Service, 74 Wall St., New York Hend DA1I.V LnTTEn to m for one week, no that I may prov value uf your service. Name , Addrcts City or Town TIM Bonds for Investment Circular Upon Request The National City Company Cortesnonrf'til opens tn ovtr St etttu riilliiileltih(a l3l Atlantic City Chestnut M. -1315, Uoardwalk NS 1 (it !; I'lttkuuntli. April 1'J I'ATTI.i; llecelptu, I linn head HlKhrr Mcci-h, il3fvlfl.35; heifers. JllfllR, mi linsplt. Calves, rei elrti 12.000 houd Steady. Top, till. 1IIXJH Ilecelpt..SSiiO head. Lower, lleai- lea, IIOHHS SO heail nrkem, SIT.TSdT IN. BUTTER, EGGS AND CHEESE Now Yurk. Apill 12 HtTTIlH etriins Itecelpttf 1135 lulis Creamery, blulier than extras, "."'a 11 7llc; creamery extras tlii Kcnrci mvi"7.ic, nrsis is in is i ncnrni. nun i-ni, parkins slock, current make. No, 2, 4UVptli. Kdll.s llrm Jlecelpta. 7,'ils cases. Kreali salhercd. itra (Irsts. 47H47'c, firsts, 4S 40Vc: stale, Pennsylvania and iiearh westorn hennery whites, firsts to extras. ,Vi 9(.'Sc; state. Pennsylvania and nearby hen nery browns, extras, Bile, do, Knthereil linm nx and mixed colors, firsts tu extras, 4040c, CIIIJI'IHR firm Iteeelpts. S.1I lxe. State, nhole-mllk flats, held, specials. jn tjl.tlc. do, avorsun run. isiffllc, state, whnlc-tnllk. twins, held, snetlals, iHVj W3UC; do, nci -aso tun. 27TO2SC. CHICAGO BUTTER AND EGGS Clilcncn, Anrll 1'J lltJTrr.ll lower. Creamery. IftfTllOc KUUS lower. iiireipis i-j..ti cases Klrsta, 40o: ordlnari flrsu ns'- itfM'.i , at murk, inses Included. :i7'i W.1!i'4e. DIVIDENDS DECLARED A preferred stock to yield 8.42 21 I". 1:1 "'?! s m 1,1 v'i 7fl nnv, in Ts na RS (17 inn'i list! osi 'Gold Withdrawn for South America Nrw York April 12. Two million flv hundred thousand dollars additional Bold coin has been withdrawn from the fublre.iBury for shipment to South America, making n total for day of M.500.0QO. , Ala" . ,lll October )ee, mher .lauiiar M j nil . Srtt i lose 11 4'J . . .Ill 1(1 S.'i TJ S4 'J.1 :i;i ;vi ripen 41 4li :i!i no :i.-i in at.au aa a.'i S'.' so IS T time) 11 3D 1 311 41 HI IIM Ki a i uu 3'l III as n7 31 OS GRAIN MARKET Chicago. April li.'. Ucvelopments affecting grain oicr Sunday were bull ish, nnd com stnrtrd strong today, gaining further ground Inter. OfTerlngs were llglit, nnd it required little pur chasing to alliance values. The railroad labor situation continued had and weather conditions were against both the movements nnd seeding opera tions. Receipts hero were IS cars. Mnv opened nt $1.ftSVi to Sl.flS-, ngninst S1.H74 nt the end Saturday, nnd moved up to $l.(OT'i. .Tuly was minted nt .$1 .01 Vi nt the outset and Inter sold at S1.0'.!",. September started nt $l.fill to $l..ri4, ngninst Sl.fi.i at the cl'ise Saturday and rose to $l..i(JTs. Oats moved into new high ground. Thorn was h big trade In the more de ferred futures, with good purchasing by commlsslou houses. May was giileter, but only sparingly offered. Receipts were seventeen cars. Corn (new delivery) Open lllsh May ... l.SSli l.lld'i July lol'i 1 'i Oats May . . ft i'3J 19 (Chicago time) 10:30 Hut l.ow a m eloso l.CNli 1.HS", l.H7; Vi 1,01 l.uu-t 1.U1', July 7 Ijtrd May ,. 1D.7S July, ..20,00 Illba . May .r.JJJJ JUW1Sl85 S7i lft.SO 20, flO 18.40 18,65 SVi 66', SS'i 8i SS'm SH',4 10,70 10 77 'to, 70 20 47 20,35 J0.4T IS, 3.". 18.87 is.as wns driwn nearlv day'B final and runner declines mnuo frnnc.i ahow a loss, from s-Mturdny of (0 ---- .----- "m. - , . . . 'ir, f ii in ifi (iT-ra 3 in nri fi centimes and lire sustained the astoti- i,.i,t yorkers and nles. innooi7 IShlng bnak of 173 points. HIIEKI' AXO (.AMIIH Iteeelpts, 4,200 in mtii.artenioon. mo low irainis oi i urjn, t,,ru, iu minn, n. m miuuii the day wer readied except ror inaritH, which wero 1.98 on transactions. HumorB were current that two cents had been reached, but this wuh dulled by some of the laritest operators Demand morllng receded to 3.91 and cables wore 2!M;. Francs fell to n new low. nt I7.ni fnr cables und 17 12 for checks. I.lrf made a new low also, at 20 75 for cables and 20,77 for checks. HATL'nDAY'H KINAI. gt'OTATIONS Sterling Tranis I.lre Guilders Demand ... 3.B7'? 11117 'JI07 37li C'alllcs 3,tl8'H 10. IS L't.US 37 TODAYS OPCNINO Ql'OTATIO.VH Bterllng Kranri Lire Uulldera Demand l."S, lo.h'j 2(127 .7Ji Cahlis ... . S.tiflW 10.S0 V6.25 37h llenisnij Cables NOON UUOTATIONS Hterllng Trnncs I.lre Guilders ;i H4 HI H7 2d IJ :I7'4 3 lis't 10 as 2u IU 371 MONEY-LENDING RATES m;' YOltK Money on call, both classes nf collateral, opened today nt 6 per cent for lending and renewing. The market for fixed date funds Is reported quiet. An easier tone to tho market hr.s been expected for this week, but thus far offerings hno been ery moderate. The nominal quotation Is 8 ta 8 ,4 per cent for sixty and ninety dnya, I'HII.AHKM'HIA Call, 6 per cent; time, 6 per cent ; commercial paper, three to six'months, 0 per cent. LONDON Monoy la quoted at 3H per cent. Discount rates, short bills, 6H per cent; three mouths' bills, &j fTi per cent. BANK CLEARINGS Hank clearings today compared with cor responding day last two ysars; 1820 1011) 101B Phlla, ,,I7S,100.SR3 !nJ.07S,fi8! t05.772.O0S Hoston . B4.MS.fl29 4S.8S1.S27 . ... . . , Baltimore 1B.722.SB4 11.472.723 RAILROAD EARNINGS CANADIAN PAOU'JC I0. Rust UulTalo. N. Y.. Aurll 12. CATTt-C ttecIPts BSO bfad Ktaus, heifers. 110(2 liluher, butchers lOfclSSO: lulfers J7iS 13,SII ens 14412 . Ml. bulls I7JII VI Calves, receipts, 800 bead, 11.30 lower, 10 810. HOQS Iteeelpts, 000 head. Tigs. SSc lower arml Iioks 2Se higher, heaw, $17fii 17 00, mixed and yorkera $1SIS23: light, do SIT Slim is 23 pin J17 17.25; roughs, lia r,iitt 14 staas iKirin, SHIIKI ANI I.AMTTS Iteeelpts. 1400 head. Klead unihanued. Adiam e rtumeK Co tier lit on pri'feltet! stock of record June 1 1 Ullarlerlv nf 1 V, p Diible July t in Reserve Banks' Discount Rates ortlclnl discount rntes nt tho twelie Federal Ileserve banks wore ns follows The drat column ulvea rates for nil periods up to and including a tlfteen dny maturity; tho second for a period of -sixteen to ninety dnjn. The third and fourth columns glvo tho rati s for discounts of collateral loans secured by government bonds or notes. Com'l paper Gov't paper 10 to 00 in m i a Id naya n Liverpool Cotton l.herpcinl April 12. There was a re tail demand for sunt cotton indnv with prices easier on the basis of if, points decline for middling ut 27 S7d Sales were 3000 bales llece'iita woo 3,1,000 bales, lucludluk- !!i,100 hales AincrUiin. Futures wete dull In the early diallngn Spot prices were: Amcilrnn. middling fair 33,12d: (rood middling, 20 87d ; fullv middling, 28 87d; iiilddlhiK, 27 87d , low middling, 24.57(1; good ordinary, 21 ,17d; ordinary, 20.3"d. noston New York 0', 3'l Philadelphia Itlchmond . . . Cleveland ... Atlanta ... Chicago Ht. Louis Minneapolis . Kansas City Han Francisco Ilates on ciutstadltKr indebtedness continue unchnnn-ed ut per cent, with the exception of Mlnno. apollg, where the rato la 4i jior cent, days tl II II 0 II (I 0 II II II II IS das fi'4 ft'l diva 3 i I ti ti certlllcatea n 3 4 S'J 0!, :,'K or GOVERNMENT BONDS Hid I'snsms coupon 2s, 1038 ranama registerea .. SUA Panama coupon 2s, 10SS 10111 1020 1S.S2 UB.Sv MB.7J ntii wee) Afxl,)tv ?,W,W Inortaas W.QOy IVIU .I01I& Panama registered 3a. 1038... 101U ranama coupon 8s, 1UII1 SO Panama registered Ss, 1041,,, so Philippine 4s, 1084 SS Philippine 4s, llilfi ss Philippine 4s, 1038 SS U H llovt, coupon 2. 1080,. ,,101'i (J S Oovt. registered Ss, 100,,!01U V a Qovt. coupon 4a, 1025. ...108$ U H Govt, rsglstered 4s, 102S10s( Olt of Columbia S-05s, mt,, VT Ask ID2 102 102 102 S3 Ml IIS US OS 102 102 10T W UNDERLYING RAILROAD BONDS To Yield 512 to 7 Lint on Application Blodget & Co. 501 Renl Estate Trust BIdg. Tel. 1000 Wnlnut Bgiton New York The investor today can obtain com- paratively high interest without turn- ing to speculative issues. There are manv consei'vative securities, both stocks and bonds, yielding from 7 to 8. Wc have pn our list an 8 pre ferred stock of an established indus try with no bonded debt and with assets equal to more than $200 per share. Price, $95 per share to not S.42. Send for Circular 3 A. GEOWKENDRICK 3rd ff CO. 14'51 WALNUT 5T. Member New York nnd I'lilla deltfbla Htutk ICtibanges PHILADU.P1UA. Teleplinnesi Hell Sprues 6130 Urslone Ituce USS announce that they have this day moved to their new offices 1422 South Penn Square Philadelphia New York ltastun Cliicngo April 12th. 1920. Yielding From 7 to 7.50 Wc own and offer subject to confirmation . . rtnto VlrpMan Uv. 7J'ji(lpmen.t Notts,.., a f'rnno. . It. Htn 10-ur, lionda.... 7 Mew York Central t'rjuljmient S'o'eu. 7 Oootlrirh llluburr) J.)r. ('onv 7'i t'oiuo(i(i(f(( Textile Corp. 3-jr. C'onu. 7 III. ,( )UC)(llCJ Various Apr. Ji 0., t030 Various Apr. d 0., 1(I2S Apr. d O,, 1923 i Ice Vfel 7.00 Atlit. 1.00','t too 1.00 Reed A. Morgan & Co. Weal End Trust Dldg., PhiUt, Full pnrticulars upon request. All pricca subject to .change Member o Philadelphia Block Kxchange , yr A - (ft. If w'l V Tl - ' V T J. i' Mi rf.'r ' LiM r rwJfc -'
Significant historical Pennsylvania newspapers