tV c F "jfti'.'-i: sr "iwnBW f. f".n,a'L(wra(' ? v- i;- 'iwwfr1" , f! !'". i 1 r.. ,,' ' 'U f' jo' 1 U'l . V V , .'l,' J. . luhii ntuubiiun 30 Years it Export Banking TNTlMATE KNOWL 1 EDGE o the needs and habits of the people, acquired by years of ex perience and actual resi dence in the countries themselves, is essential when transacting busi ness abroad. 23 Branches in South America 8 Qfliccs in Europe Direct Connections With India ANGLO-SO.UTH AMERICAN "BANrCLIMITED New York Ancr, BroUwiir JjB KlA "VIA COLON" (Male two icordi trantmiUtd frt ot 1 iharge ou any Telegrqph Co.! John t Merrill, rrealdenl DIRECT nOUTE TO CENTRAL and SOUTH AMERICA B llroRd St.. New YorU ' ,' h..V,v. 'VJiVi , .M.'1 ,. W.-M .' - vl . '' - . .f '. J0Vfcfittjf JBlk) ilfelfeER-pmTJADET.PHlAV ofetltSDiY, MAY 13, 1020 I- 19 v IS IMPERATIVE Much Good to Bo Accomplished in Contraction of Luxury Expenditures Tennessee Power Co. i Fint Mortgage St, 1962 Texas Company 3-Year 7 Note j UAMIER3 321 Chestnut St.,' Philadelphia Jfrmttrt Hew YorU and PMlaittthta Block Kxchanaei The letter ntlilnweil to tlic member banks of tbc Third Federal Kescrffc dis trict by Oovernor Norrls was received favorably In the financial district-yesterday. It was considered an exceedingly well-timed document, forceful In argu ment and expression, without any at tempt to exaggerate or minimise the conditions of Jonns on government so curltles as compared with purely com mcrcial loans. A banker said If people would buy fewer Automobiles and plflycr pianos with their necessary gasoline, tires and records, cut out a lot nf rhn pxnense of going to two or three movies a night every iiigm in trie wocK, ana pay on their loans on Liberty Bonds, another such letter from the governor of the Federal Reserve Hank would not be necessary. He said, that the governor's reference to trm conditions of the other Federal Reserve Banks as compared with the Philadelphia-" Bank should arouse the member banks of this dis trict to concerted action. As a matter of fact, he said, we aro paying millions for automobiles and other luxuries and this money goes to help the showing In the other Federal Reserve districts to the disadvantage of our own. As showing the enormous over-subscription for the Union-Southern Pa cific Equipment notes offered on Tues day, when the subscription books were closed one hour nftcr the opening, a well-known firm of bankers and brokers put In a subscription for $800,000 and were allotted ?5O,000. Other houses re ported similar experiences. A member of a banking firm when speaking of the success of the offering reverted, as he has frequently done recently, to the ap parent plctliora of funds for investment in these uew high -yield issues, while Investors ignore the old seasoned issues which in tnc past were considered very conservative, and which can be pur chased today on terms to yield quite as much .and more' than the new issues. He ascribed the reason for the success of the latter to the well-worded adver tising used to bring them to the notice of the public, and to the large well trained sales forces now employed by all the bond houses. The Mexican situation and its prob able effect on the oil production was being discussed In n broker's office yes terday morning. This broker, the sen ior member of n well-known firm In the central part of the city, has given the FINANCIAL ALTOONA C'OAI. AM) COKK COMPANY ttnt Mortcnge Mix l'er cent Mlnklni Fund (lolil Honda NOTICE OF IlKMHMITION Tunuant to the provision of Article IV tt ths Mortcaso or Herd of Trust from Altoona Coal and Coke Company of Phlla. Mfhla. Trust Company, an Trustee, dated June 1, 10)0, notlco Is hereby given that Altoona Coal and Coke Company will redeem ind pay on tho next ensulntr Interest day nt on hundred two and one-half per cent (1W) of the principal amount thereof, with the accrued Interest thereon, the bonds Imued and outstanding under euld mortgage numbered follows, to lt; i 7rt fil Rfl 77 82 S7 m 7S S3 M 70 HI SO 81) 8.1 HO Vpon presentation and surrender for can cellation of the bonds above described, with the coupons pioahle Juno 1, 1020. and all lubsrquent coupon), attached, nt the office f Philadelphia Trust Company, Liberty BulMIni, N. K corner nroad and Chestnut Hreete. Philadelphia, Pennsylvania, on. or fur June 1, 1920, redemption will b8 made a hoo stated. Interest on said bonds numbered 78 to 00. loin Inclusive, wll ceaso on and after June 1. 1920 ALTOONA COAI. AND COKE COMPANT, By JOHN LIXJYD. JU.. Treasurer. . Piled May B, 1050 NOTICE TO HOLDERS OF MIDVALE STEEL ORDNANCE CO. tO-lcir 8r,V HlnklnK Fund Cold tlondi Due .March 1. 1030 Notice Is hereby given that the amount i funds now In the Sinking- Fund provided under the Truit Indenture made by the Mid ;! Meel anil Ordnance Company, dated reh 1, lit lit. la JBS0,817.4II. and that !fi".,nt' Trust Company of New York aa iruitee under said Indenture nnd pursuant ViAril(&...v. 'hereof will recelvo at Ita TRIST DEPARTMENT. 140 llroadway. New fork city, until 10 o'clock a. m.. .Monday. "r w. 12. sea ed nroroaa a for tha to It of bondx secured by said lndn 1,15, ln .JUfn "mount aa will exhaust the Hnkln Fund Monies In hand at the lowest ni at which said bonds will be offered Or III,,- tin, .in. .........11 AK0 .U cpl amount thereof. Interest on all bonds Jurchifd will ceaio on Mav 1R, 1020, and rymmt of the amount of tha accepted "Jtri and arcruM Interest due thereon will rk.Jr.fv1 u.pon delivery of tho bonds pur ""fa to the Trustee ur.J' rlBhtLlj resrrcd to reject any or all itf In uhllo or In nrt. fil'AIUNTY TRUST COMPANY r ,r;w KIUK SAI1IN. President. oit industry considerable study, nnd ofpocially the possibilities of the Gen eral Asphalt Company's Venezuelan field. He said that those interested in the General Asphalt Co. received their first definite InfnrmnHnn retarding this much -discussed Venexuela field, which' is neitig developed by the Asphalt Uo,, on Tuesday last. Mr. Scwajl, theprcs iilent, In his remarks made the state ment, he said, that the most favorable oil field was the Menc Grande, where they have eight wells, which are capped and all apparently good ones. One of them, after a sixty-day test from n one Inch pipe, produced an average of i!000 barrels a day. As soon as transporta tion facilities arc made more adequate It is planned to brinB these wells into active operation. Continuing, this broker said that oil men nil oyCr the world are looking forward to the open Ing of a new oil field of great maeni tude, and It would not bo, surprising to those who have followed the devel opment of the Venezuelan ficld,if It would develop into a producing area of great magnitude. He said he had been told by those who know that after a most thorough examination it cduld be con servatively stated that the territory shows every clement necessary for the production of oil on n' large scale, and that It is well within the possibilities of tho near future that wo shall hear n great deal more 'of the Venezuela fields. i A customer who had listened to the nbovc said that over n year ago he had been told by a banker whose sources of Information on the subject were sup posed to be authentic that all the talk of prosperity coming to tbe General As phalt Co. through heavy demands for nspbalt for roadbulldlng was pure camouflage, that the future prosperity of the company was in its enormous oil territory holdings, which would be de veloped as soon after tbc war ns ad justment of prices of material and labor would permit. A prominent Investment banker sold that he had received some Interesting figures on the oil situation recently, which show a condition not generally appreciated, and which demand pub lic attention. , According to the. lntcst figures of the United States Geological Survey on the world's oil supply, he said, foreign countries are using only one-half the quantity of petroleum which is bcin'g used by the United States, but have seven times as much oil In the ground. At the prcxent rate of consumption lie remarked, which Is more than 400.000, 000 barrels a year, the United States has in its own territory only 38 years supply. He said the Geological Survey gives a lot of interesting figures, but ns they refer mostly to oil in the ground, he considers them largely guesswork, based, of course, on the best possible information and experience. He re marked tfiat the oil Industry of the fu ture will, In his opinion, equal in im portance the steel industry, with which it is inextricably woven, as the appli ances consuming oil arc manufactured I from steel. ' Now York Bonds tSAUSB IN HOOOl Troni Openloc Until P. SI. ,N. Y. Time) , Amer Smelt', 4... . 00 Fa n m 4U UNTPROEGT-PLAN A K 8a 1 75. A Tel A Ttl olt 3 7B A Tel Tel Be 1 74 '4 4 18U A Tel A Tel 0i, I . . . D.Vs 'Cuban a. 3 D3'4 Anr-Krench Da 1 08 3 io ns a Colo Bo'n 4'ls 2 OS's 2 OSH Copenh'n Mis 1.. .. 74'i Cona'd (las 7n 1.. 10. 11V. ,10. ... r... 10... 10... 11... 1... a... 10... ii .. 2 as a nau tIS'i 08 m 084 nsu (18 Vi 08 tt A8i 08 U 084 118 'i 08tt ATlSl'.li 2.. 1.. 3 . a . 7. . 1.. 23. 71U 71 71 ' 71 71'J 71 Atch TtSFe Ala 10 (13 Vi n 03 s A Coast I. clt n 01 3 01 4 Ill Atl Coast L 4s 3 72H 2... I. 72U 8 72 Bait ft OHIO cv 10. 6. A. ft in 1 . 4.. 1 . 10 100 . 100'i C H cv . n7'. .. 07 .. 07H . 07 i . 74 07 . . 07 07 . II 7 '4 1 .... 78K Penna II ft da 4 84 Penna w 1 7 10.... lifltt 1..,. .10H h ,rty niAiiu:s n 2llIJM.iv 1. 1P2I) POCAHONTAS CONSOLIDATED COL LIER1ES COMPANY. INCORPORATED vVi?:!!1, J'1'? l'n C'ht. old Honda. tnn f .1 ".v"' Siven. pursuant to the that thi l.l,'JJMoF,ln"w Uat"1 Jul . "07. ha .et?arsln'.1' ni Trustee, will re h scaled proposals un to 3:00 n. m on Qav of June. 10:10. for h i " " pond" aa above de sorlbed. sufficient lima r..i....".t ' .'ui.ai. Aha under tinders"" " lh" ""'" l0 reJect ""y or ' HB new .Trustee. Nfw Vork YOrtK TnilHT COMPANT, ,V U. O. CURT3. Secrtlar". Mav 10. 1020. ocomotive- What lias been responsible for the difference between "Old Ironsides" built in 1832 and the locomotives which make posslblo the transcon tinental flyers of tho present day? Inventlvo genius, yes but Inventive genius backed by capital. Banking servlco always goes hand In hand with Progress. You aro Invited to Investigate tho Complete Banking Servlco wo are prepared to glvo nnd which can be a factor ln your progress from now on. Only ona feature Is our 16 hour service 8:30 A. BL till Midnight We aro' Commercial, rrogrcsslvo. Convenient and ,,. i ranKun 15th. St. below Market j3jk rust Co. Phila. 52nd. I Market Sis. ',i,,ipTTi'jnr SjTfct H.aaiaassssaaHinwia' ESU B8H DV B8U (184 r.8. 08',, 2.. .. bO Hall tc Ohio 4s i am; B b'j 1 BV Dalt It Ohio 3s 1 no 3 MIS 2 f0 1 B8. Bait & Ohio 8s f .... 85S 2 .. ... 8BS 2 854 8 . .. 8Sb B 4: O 8 Wn Rly 3 '4 a l on i OO'J B Steel ns '3D 4 70 E. ... 70 Brad'n Cop fls 10 as 1 86 Cal O 4 B I, 1 hOSt Cent Leat'r Bi 1 02 3 03 Chea & O 4 'is 1 OD'4 2 00 CtOcv 4Via 1 07i 2 C7i cv Si . 78 U . 78 V, . 73 . 72 K . 72H . 72 '7: Den (HON 2.. .. 43i Ii... 48i 1 43'A 1... . 434 Det Tun 4Hs 1 .... 72i D of Can '20 1.. . 01 D of Can '31 2. ... SOW 1. . . 89 '4 Dominion Re publlo Ba S 2.. . 83 Erie nR cv D 1 38K Erie R R 4s 1 40 Oene'l Kleo 6s 1 07V4 1 7 1 .... 07 1 06T4 Hud t Man to 8 SOU III Cent 4a 'El 3... . 80 til Cent 4a B2 2 03 III Cent 4s 'S3 4 61 4 01 III Cent'l Vis 1 86 1 . .. 83i Im Jap Ov 1st 10 76 10 . .. 7B'4 J ... 70 2 . ..' 7fl ft .. 70U a .... Tn f. 76 Imp J Ov 2nd 2 7B',i 24 if. 10 .... 7S 2 7S 1 73 Imp Jap O 4a Traylor Engineering & Mfg. Company 8 Cumulative Preferred Stock Anott t CJa Timet the Amount of Preferred Stock Offered. Dividend Earned Over 14 Times Price 98 Va and accrued dividend to yield 8.12 Sencf for Circular NAULTY & COMPANY, INC. Flanders Building ' Walnut at 18th St., Philadelphia F, mmm ' I I JiliwIiLMjeUnya -r 1 !-'" -.a HW I?AT"J-:,K"-'UKRN OF T1IK PKNN I'ORATIONi A C0AI' AND C0KE C0K- TAi.ru .-. .., .. . COIl- TAllI,' .(TI-!'-i ,1 . . i'l Si KifoUrecKr.: P'Onsyfiaa u'i..i"'.. S"",,?'K',.-'- .t the "Ilea to hr h. ii ,?".. '-"fil.t "Voration in. .i... .. ".. " ".in. iiriicnai r oftlces on th. .i.:r..".' "'"' i ita nrlne ni l"iiiaVVffffr r.1 L.VJ .Title nulla I'Dlr. lftn I. ., ..' '. wo:WZ; .", '" ih-d.7".r "lockhiiaerH 0f eiV I"1 Jh r'!lutlons of the soffiai r.?.i- .. rorr,nratlon adopted at "v i Ma"h"niV4h'rrif hrld .on 31' IM' tha 11" inn i iHj..wh'.ro.,iy " w Pro lD earfc , t. ,IM' "hnres nf the par value of J' Hi.., 'STock'tian ' &" ,W- ') rnierted n ..T.J "LIl1"'!" treasury be '"Wred ork i.i ' n.,!!1 cumuiat ve ''rectors hi iuih.Jfi.i .tllat ,, ln" .Board of ,(K-k in hJ. o? i "' to e" ""fh Preferred tlw. more VrHe'Si.'JW H" !n "'' r"o ithorlj. if,. ?lr''c1ul',11 Pr.'ldedi also tn iMk Into common" atmll?nnfn,.i""l1 "-'"reU '.T el fhnr.. m J"1. ?".' f "io aamo num- im ilin "..."' "" nmo nar valn 1..1H IMI an.. .,.,' "U prowr i.. "V'Z.,"Pa ih'nKB necessary AI 11 1 'T"nn ffrTS.IWM.veralon. ti.4 v,."!lrry..rice. JDWAItDH . Secretary. New Vork City. Dlllllrml. A"Slsfn l At ,,,.. . L Ma' "th. 1020. ! V1" '. Il'i-i"!?.1?1. of. "Ireceora l.MTll, t..7nT "" ""-"TT "My, of thri nml tax. payable ','" cent, pjar June. 1. 1020 "ARRY C. POTTRR. ,ln l'I0 Elm-v - Treaaurer. I ""Mil IIROH.. ivn uT P'rectora h.... a '."'''IPtiia, Pa. 8S!r!VSSiJft.BS& zussswm 11 Tn I.. t20.v """ v,u" H ill, 10 iPTSCir-TTW,uf,r If :sV. 1812 1920 THE PENNSYLVANIA COMPANY for Insurances on Lives and Granting Annuities TRUST AND SAFE DEPOSIT COMPANY ' Capital and Surplus ' - $7,000,000 Member Federal Reserve System broad hTRnrcr Chestnut nd 01TITE Juniper Streets 517 Chestnut Street Philadelphia international Freighting Corporation: Through Regular Sailings UNES SOUTH AMERICA Bills of Lading limed s. s, H. N PHILADELPHIA tp RIVER PLATE PORTS Writ Munham Majr 15 8. H. Terre Hute . . . . May SO PHILADELPHIA to RIO JANEIRO & SANTOS ii.n Slay S3 H. H. mrkailllr. . 'one 15 PHILADELPHIA to FERNCH ATLANTIC PORTS rasper Mar J5 H fl, CUr of Falrburs ....... ...May SO Lfxtte Building, PblUdelpfcla ' " " W-h.MI JJS ,- . 8. 8. Caar ,..... '"jSS! ,5 8. 8, Battalion , " g 8, B, rortsmooUi,,. . 'uno 15 , 170 groadwy, jNew York Cortland lltOZmSSw; If c 1.. l'.'. IS.. A.. 1... 10.. a... 4. , n... 38,.. 1 1 . 1 ,. .1... I... 18... 3... IS... 10 , 101H . iom , 101 . . 101 101 H in 101 101 s 10l, 101S 101 lOlVi 101. 101 101 Vj 10li iom 101i ion iom iotu 1014 101H Pere Marq oa 0BV4 Readlnc R 4s 1... .. no 2 NO 1 80 1 80 Republic of C 0. of 'U 1 OIi RepublloC4V 4 78 'A RloOdAWa 2 01 Roch A Fltts R R en 2 Rock lsl Louis a 1 1 7 1 1 0 ai.ta l t 2 2 2. 88'; A 4'4b om is 01s 0 "i U ',4 ei; 81 h V aj 58 r.K'i 67 H h C8'i FORSUBURBSURGED Roscarch Bureau Offers Substi tution to Rovisors on Section ncorporated Districts on STATEMENT IS ISSUED St L. & 8 F in 1 I. 3.. 10 . 1. SB' no's 69 '4 BBH 69', 60 60S 60 69 H 69 S ntl'i 60 tt 6 1. 4. 3. .1. (I. 1. 25. 1. 1. 1. 1. St I 44 , ... 44i .... 44 . ... 44 , ... 434 .... 44tt .... 44U ... 44 'i .... 44U .... 44 .... 44 .... 44 & 8 I'ran ELMWOOD TENANTS TO FIGHT EVICTION Shipping Board Alleges Many ' Contracts to Homos Wore Fraudulently Obtained HOLD 'MEETING TONIGHT 15. Chea tc O n & A DtV lit 3 61'i Chi ft Alt clt 1 75H Chi & Alt'li M l 44 ; Chlcaco R'n t Qulncr 4s 1 04 n 04. Chlcaso B'n L Qulncy cm 0,..., 70'4 ST.... 71 Chlcaso & Q't West'n 4 a 2 62i 1 62U Chlcaso at Nth West D '21 6 86 Chicago Mil & St Paul 3V1' 2 .... 54'4 Chlcaco Mil 4- St Paul 4. 1 .... COM Chlcaso Mil a, Ht P D 4a 3 53 1 64 Chlcaso Mil & St P cv 4'4 1 04 ,1 lit 2 04 1 04 11 04 2 64 Chlcaso Mil & St P fd 4a 5 5t Chlcaso Mil ft St P im 4 Ha .1 7 Chlcaso Mil & St V CP 6a 3 otn; Chlcaso Mil St P cv 6a 10,,... 03 5 ns 2 6S Chlcaso & Nth Wait (O 2 07S Chi M-& Pus Sound 4s 1 BO Chlcaso Rock I & Pao fd 2..... 02 i 3..... ai 6 02 i Chlcaso Union sia, 'ia 1 721. 4 724 B 71H Chlcaso A W Ind'a 4s 1 60 Chile Cop'r (Is 10 74i 23 74H 7 744 41 74V4 4 .a 2 76 Chinese. Gov't IMC Rlya 6a 1 43; 10 43 4 .... 42V4 r 43 11 42K 10 42'4 City Ljon. On 1 87 City Mara'a 6s 1 87 City N Y 1V4 way 'OT 2 03 C of N T 4V4s Nov '07 2 034 CIIVNT4H 00 ' 3 60 CltyNT4f4 03 10 03 10 93 City Parla a 1 SOU 6. 1 3. 3. 2. 6. 13 Info Met 4H 2 .... 1B4 I 1, Inlerborn Rap Tran fd 2 r,3a 1 63; II S3'.i 1 63 i.. .. Ban S .... 63'i In Asr Cor Ss 2 80 () ...I 80 .. 70'4 . .. 70 I M Marine Oa 83 i Iowa Cent'l 4a 38 Iowa, Cent'l 5a 1 70 Kan C & S Is 1 60 Kan C 8 6 1 65V4 2 05 1 05 Kansas City T Italy 4a 3 03 1 03 'i 2 OSS 3 OSS Lack Steel '23 2 02'4 2 II2'4 t,9M3 4a 28 1 80 Lehlsh V 4 'is 1 80 Lone Island R R fd 5 n: Lorillard O 7s 6.... 102 Mid 8 & O fts 5 80'i r. 8o4 4 80 6 hO 10... . 704 Mln k Ht 1. 6s 1 07 H SI K C A T 2d 7 '4 HKCtTH 63 Mis Pac sm 4s 1 52'4 N T C A II It R R 3V4a 2 04 2.:...' 04 1 034 2. . . 03 N T C A II R RRcn 4s 5 01 NTCsHll R R 4Wa 2 .... 70i N T Chi A St L D 4s fl ' 0474 1 05 N T C A II n nnti l. 10. 10. i. 874 87 87 87 87 ti 87 87 'i MftrlAi A 2 6Sli 63H 53 'A 1 68H 1 63 1 B3U St I. A 8 Fran Series U 6 oin 2 0474 St L A S Fran Series C 2 85 8 82 Seab'd A I. J 0 34 '4 1..'... 84U 4 344 2 34 D 34 Seab'd A I. M 1 4ZH S'n Paclflo fd 1 00 2 60 3'n Paclflo 4s 3 Olt 2. ... 01H S'n Pad cv 4s 1 75 5 ... 74i S'n Tac cv Bs 18 .... 88 2 07',4 1 08 8 074 4... . OS j'n Pac Term 1 04 '4 S Railways Bs 08U Ten Cop Co Oa 1 02 Texas Co 0. 101 ', Third A RR 4s 2 .... 41H 1.. .. 42U Third Av R 5s 3 ... 78 Union Pao cv 1 80i 0 .... 80 0 80 Union Pao fd 3 08. Union Tao 4 s B 704 Union Pac Os 1 07 3. . . 07'1 U KG 11 I '21 30 .... I4 5 B4 1 04", 3. . 04'4 u k n a i rets of "22 S .... 03 4 2 . 93', 1 . 3 U K (1 D A I rets of '29 1 .. . m 3 90T4 1. ..01 2 .... noi 1 flO'i U K O 11 I '37 4 .... S574 2 .. . 83i 3 . 85 U 8 Mexico Bs 20 . .. 31 2... . 33', 30 .. 33't U S Realty 6a 1 .. Rl'i 1 . SI'S U 8 Rubb'r 5i New TNII4 Hart Os i os; New T Out a Western 4a 2 B3'i 6 63", 6 63, NYTcI's 4Ks 0 74 N T W C A H R 4HS 1 88 Norfk A W 4 10 08'i N A W D 4s i 7m N" A W cv Os 6 051 Nn Paclflo 3s l..,., OUV4 D 60 Nn Paclflo 4a 3 119 1 00 t usdenaours A Lake Ch 4s 2 62 Ors-Waah'n R Co Nav Co 4 s 2 04i 3 04 Pao (1 A F. 5s 1 74 ; 5 74V4 Pa RR en 4Hs 3 8U 89 '4 1 Pa R R 4ia 60T4 1 i 00t Conitniinltlcji wltliln n metropolitan ana "lioiilil provlilc by joint contract for public work nml linprovempnts In nhlcli they bnvc n common interest rnthcr than set up one or more Incor porated district, tlio Iturrnu of Mu nicipal Itosonrch asserted today. The bureau has prepared a substitute section to the proponed section on In corporated districts tentatively prepared by the constitutional revision commis sion. Tho substitute stipulates Hint joint contractu between communities may provide for boards and commissions to effect the purposes of the contracts:, but that no bucIi board should have the power to levy taxes or borrow money. The bureau's statement, in part, fol lows : "Such R section in the constitution would, we believe, enable the various communities in a metropolitan area to solve their joint problems by the mak ing of contracts or agreements among themselves much as individuals contract to carry out plans in which they are jointly interested. This solution would be more satisfactory and would be ac complished with much less demoraliza tion to the citizenship concerned than if the same ends were reached by set tinu up one or more incorporated dis tricts nnd ilclcKatfnp; to them some of the powers properly belonging to the cities, boroughs or townships comprising them. "That such a scheme involves no new concept of tbc functions of munici palities is nttcsted by the numerous intercity and intercounty bridges. We further And that the Pennsylvania school code of 1011 provides that two or more adjoining school districts may, hv written ncrcement netween tlieir sev eral boards, establish and maintain joint high schools or other schools, pro rating tho costs among the districts that are parties to the agreement. Simi larly, by an act of the Legislature in 1017. we find that two or more munici palities may by written agreement es tablish nnd maintain libraries. This concept, wo believe, could well be tr tended to contracts involving more elab orate public works of common benefit to several municipalities." GIRARD FUNDS INCREASE Directors of City Trusts Show Con siderable Advance in Estate A substantial increase in net re ceipts of the Glrard Estate for 1020, up to April 30, was shown in the financial report submitted yesterday at the monthly meeting of the Hoard of Direc tors of City Trusts. For the estate within the city this year's receipts up to the end of last month were $421, 708.47, an increase over the same period 1nr vonr nf 0(121.10. Without the city the estate's receipts were $820,01 1.70 -1 l . tnn.nnsn nt t"TS WH "ft BllUWIUfc U IUI.H.B01. v r-u.s, uuu.v. The appointment of Miss fcthel A. Siramplc as relieving teaclicr and as sistant supervisor of the grammar school of CJlrard College was also on nounced. The institution's total enroll ment on April ;iu was iom VARE'S RECORD RAPPED Dr. Keegan Says Congrettman Was Opposed to Organized Labor Charges that Congressman William H. Varc was opposed to the Interests of organized labor were made last night by Dr. Arthur 1. Keegan, bis oppo nent for the Republican nomination for Congress In the .South: 1'hlladelphfn district. Doctor Keegan spoke at a meeting of railroad men in I.u I.u Temple, Jiroad and 8prlng Garden Mtreots. James 1'. Casey presided. Harry S. Jcffcry, candidate in the Sixth district, also spoke. "In the last session of Congress we claim Mr. A'are has betrayed organized labor," declared Doctor Keegan, "nnd In the Inst three session he voted only for makeshift labor bills. Of twenty five bills of vital Interest to laboring men, .Mr. tare was nuseni. irom con gress. He couldn't afford to vote against the great Interests. "When bills of vital interest to the great corporations were before Con gress, was Mr. Vnre absent then? No, lie was there, for he was told to be there. When such bills wero put to a vote, he voted for them rind against the wishes of 07 per cent of his constitu ents. "Was he absent when the so-called railroad bill, tbe Cummins-Esch bill. gress? rso, he voted for the measure. His record ,s bad. Can we afford to vote to send him back and take a chance?" HOOVER CRITICIZES RULE BY ONE MAN TO INSPECT BARBER SHOPS Tenants in the neighborhood of Sev entieth street and Elmwood avenue who bought homes from the United States shipping board will not submit to can cellation of the contracts for tbc sale of thr houses without resistance". The shipping board announced re cently that many of the contracts 'were obtained fraudulently and it proposed to cancel them. Flons for protecting their rights will be dlscussen tonight nt a meeting of the Elmwood Communities' Protective Association. The meeting. -it Is predicted, will be largely attended. It Is expected thot an appeal from tho ! was up in Congress? orders rescinding the contracts will be taken to Washington. Sentiment In the community la running high nnd interest ing developments are looked for. The contracts were canceled recently by the shipping board on the grounds that they were obtained fraudulently, in that pri vate speculators were securing the houses on easy terms intended solely for the tenants. A statement was Is sued yesterJay by Michael Francis Doyle, attorney for the tenants' asso ciation, in which lie stated that the fight would be carried to a finish. "The tenants resent being placed under suspicion, and they intend to fight for their homes," he said. "They formed their association for the pur pose of protecting themselves against being a source of revenue for profiteera. We will bo only too glad to' join in sup pressing any fraud, but we do not con sent to being adjudged guilty by the shipping board and told to prove our innocence if we keep our homes." Joseph Ii, Kim, a former deputy at torney general of the state, who repre sents the syndicate which has purchased the majority of homes in the- section, including those on which the tenants' contracts were canceled, reiterated his charges of fraudulent manipulation. "About fifteen of the cases referred to me today confirmed the justice of the cancellation," he said. "One of the pri vate speculators even came in with a receipt which had been issued to a ten ant nnd attempted to fcecure the deposit money on if. Twelve cases of error In cancellation were ndjustcd, the tenants beinc allowed to keep the contracts. The tenants who bought in good faith have without exception expressed approval of our course and linve expressed the hope that we get rid of all fraudulent cases Closer Co-operation BetwsMp Congress and Executive Is Necessary, He Says . 0 BOTH ANXIOUS TO DO DUTY 80 80 70 H 79 70 hi 70 '4 70U 2 70 U S Steel 5s 1. 4.. 6.. 4.. 15 3.. .1.. 1 1. 1 1.. 1.. 1.. fi P24 112', (12 H2'i (I2'4 024 nfl'i ns'i 02'4 02 (12 II Vir'a Carolina Chem Co Os 10... 03 Va Rall' a 5s 1. .73 Wabash R 1st 2 . 80 II 2... 81H West'n Md 4a 1. 401, 8 40 Westn Pao 1st 1 . 70'4 1. 7011 West Shore 4s t 08 Wilson Co cv 1 . . 97l Wberty .Tjs ... Liberty 1st 4s... Liberty 2d 4s. . . , Liberty 1st 4Us. Liberty 2d 4'is.. Liberty 3d 4Us. . Liberty 4th -His. Victory N .'l?is.. Victory N 4., inch 01.00 85,08 85.00 87.00 85.1(1 88.00 85.58 05.08 00.03 IN. Y 1,0 1)1.40 85.50 84.00 80.50 85.02 88.80 85.50 05.00 05.04 time) 1 15 t in, 01.10 85.00 84.00 80.50 85.02 88.80 85.52 05.00 05.00 New Vorlt, May 13. One of the first things needed for a better administra tion of our national affairs, says nerbert Hoover in a statement, Is "a closer co operative relationship between Congress and the executive." The statement Is made as n general answer to many in quiries as to his attitude on the rcla tfons of the executive to Congress, a matter that has had national atten tion of late. Mr. Hoover says In part: , "This is not a' one-man government, it is a government bv the majority, whose will Is expressed through polit ical parties and its execution expressed through the vast machinery of Congress and the executive departments. It follows, first, that in our government party team-work is necessary to co ordinate the executive and legislative branches. One of the first thine needed to secure better administration Is a co-operative relationship between Congress bad the executive. Entirely Sanitary and Medical Examinations !,iu from l'UIaMon. originating In . . . u ..r , . Congress on general policies, the exec Planned by Health Director utiTP j nee, of constant legislation Dr. V. Lincoln Furbush, director of revolving around the support and ad- public health, purpose, to conduct . 'TilSfiSSflVSS Ccfe sanitary inspection of barber shops and ami legislative must necessarily in our 5 ""'Ileal ciamlnatlon of barbers in form of government be with commlt- Plirladelpliia. ..., . .. ,, tees of Congre.ss. Several years of ex- 'Ihe plan eontemplated by the d i- poHence have taught me that such com- rector has been Pro"P '"ft?" mittees are just as anxious as the heads heir Pc b ShSi tofficX8 ?-' FSSX3&VE$ 'in VoTr'n" . ifi.,i i. tmnltarv nnd (heir emntnroa anl demonstrate) efficiency in govern- prenoiincfd in WoS" heal h, ."SHE .ent. Whatever differences of opinion Coincident appearance of carbuncles "V '' between the committees of upon tbc faces of John A. Voglcson. Congress on the one hand and the chiefs chief of the burenu of health, and I Jf government departments on the other, George II. Shaw, chief of the division J have generally found that when the nf housing and sanitation, who be- 1 '""ad of a department takes his problem llcve the trouble to be the consequence I frankly and fully to the committee el of infection received while being shaved in barber suops. SELLS HIS BLOOD FOR $600 Baltimore Medical Student Disposes of Eleven Pints Baltimore, May 1.1. With eleven punctures in his left arm. from whence came each time about 500 cubic centi meters (one pint) of perfectly good blood to be appropriated by some other person, n student in the junior class of the Johns Hopkins Medical School is still going strong, has never missed n dav from class as a result of this loss and is $G00 better off financially. Congress, through which he Bust eventually work, be can secure free and full discussion, and in the end, by sant adjustment of differences, secure the co-operation necessary to carry out the plans vital to executive work. The e tablisbmcnt of good will between the legislative and the executive branches of the government is absolutely essential in a government which is to function in response to the expressed will of tho people." Refined Sugars Unchanged New York. May 13. The market, for refined sugars remains uncnangrea, both as to conditions and prices. for rawB firm. continues fairly The market active and LOCAL MINING STOCKS . TONOPAH STOCKS Hid Asked Cash Roy J7 .09 Jim Rutler 1,7 .' StacN'amara i' MacXamara Cres r VV Midway '' ;,$ Mlzpali Ext J" -)i .Ifontana 13 .1.; North Star 04 ,m Rescue Kulft If, Tonopah KM '? JJj West 10 l"i 1J4, West Tonopah 01 .00 DIVIDE STOCKS Allied Dlv Ot .02 Alto Dlv J2 .03 Ilelcher $ 'O, Helcher Ex Oil .08 lien Hur pi .03 llrouuh Dlv OH .10 Dlvldo Ext ,....,.. .2? .30 Dlv Hvnd 11 .02 Dlv Con U2 -J3 Dividend 07 .OS East Dlv 01 .03 Harmltl 2(1 .30 Ifaabrnuck Dlv 02 .0 Hluh Dlv 01 .03 Revert Dlv 07 OH Reno Dlv 01 .03 IloMtto 01 .03 Hllver Kln 01 .03 Tonopah Dlv 1 1' 1 , Ton Haabrouok 03 ,07 Victory Dlv 11 .13 Verde Dlv 04 .OS Zone 17 .10 OOI.DKIELD STOCKS Atlanta Ot ,03 Ulue Dull 01 .03 iiooth ni .nn v. o. n ni .os Comb Prao 02 .03 ("rackerjack 00 ,tl Dlam II Jl ni .lis Daisy 01 .03 Florence 20 .25 (loldf Con OH .10 (loldfleld Mercer 12 0.1 Hold Dev OA .OH Oreat llend 01 .03 Jumbo Ext 00 .OS Kewanaa 01 03 lAjno Star ,. 03 .04 Oro 01 .03 Red llllla 03 .04 Hllver Pick OS .08 Spearhead 01 .05 MISCE1.UVNEOUS Amparo .. tt l'i Arizona Uritted 10 .13 Kden '4 " Mother Dode r.K ,nj Nevada 1IIII 02 .01 Nevada Rand U .i Wllbert 03 .07 Nevada W'der '. A Teropa Mining- OR .ii White Caps .10 .12 OPEN FIRST PLAY STREET Ceremonies Attend Dedication of Playground for Children Philadelphia's first play street was opened lost night in Mnrvlnc street be tween Balnbridge and Fitzwater streets. That section of street henceforth will be free from vehicular tratiic and will bu given over entirely to the children for play. The opcnlng.of tiie play street was made an occasion of festivity for the community surrounding It. Ernest L. Tustln, director of Pub lic Welfare, officially opened it. Other sneakers were Mis Sophia Itoss. chief of the Uurcau of Kecrcation. nnd "Miss Safetv First," ot the Philadelphia Rapid Transit Co. The Police Dand played. EXECUTOR TBCSTOB CHARTERED 1S6S FIDELITY TRUST COMPANY Membqr Federal Reserve System . Capital $5,000,000 , Surplus $16,000,000 Main Office: 325-331 Chestnut St. 43-53 S. Fourth St. ADMINISTRATOR (18) Broad Street Office: N. E. Cor. of Broad and Chestnut Sts. GCAKDIA.V Which are the best for Con servative Investment and Profit? New 7 R. R. Bonds Old 4 R. R.Bonds Comparative study sent on request A MARTIN & CO. 1411 WALNUT ST. PHILADELPHIA DIVIDENQS DECLARED vs United State Oypium Co.. quarterly ot 1 per cent on common and 14 per cent on preferred, payable June 10 to stock of ro ord Juno 15. Crex Carpet Co., semiannual of 3 per cent, payable June IB to stock ot record May 29 National Cloak and Bull Co,, quarterly of 11.25 on common and $1.76 on preferred Common la payable July 15 to atoelt of rec ord July T. and preferred Juno 1 to stock of record May 21, American Ripress, quarterly of 1 50. payable June I to stuck of record Mav 20, Otto Elsenlohr A llros., quarterly of II T5 on preferred, payable July Jl aa reilatered June 19. 1 United Security JJfe Inauranc and Trust Co.. ieml-anmial 1 per. er clear ot taJ pybl Jum ,1,. TT1 V" .. V. W' v y Re Be CARR Accountant and Auditor Specialising. In all INCOME TAX MATTERS Penna. Dlda., Philadelphia LIBERTY BONDS All Issues Bought and Sold $50 $100 $500 $1000 Graham, Parsons & Co. 435 Chestnut Street jf Philadelphia How to Lower the Cost of Power ARE you interested in a system which will save from 5 x to 20 of your power plant fuel bills ? The Automatic Combustion Control (Gray System) enables- you to realize this saving and permits the use of cheaper grades of fuel with A-1 coal results. Mark this: An installation was made in a plant operating three boilers on soft coal. The Automatic Combustion Control (Gray System) now permits the Engineer to burn sawdust under one boiler, w6oden blocks under another, while the third uses a No. 2 Buckwheat coal." Greater power is obtained ! This is only one of many installations where the Auto matic Combustion Control has cut down fuel expense and at the same time increased power production. The same thing can be accomplished at your plant. The 5 to 20 saving is absolutely guaranteed-! Send us your name and the namcof your plant. We will forward you more complete information about the Automatic Combustion Control (Gray System). Or if you like, one of our Combustion Engineers will gladly call at your convenience. Automatic Fuel Saving Company Bullotin Building Phone, Sprc 5S74 AUTOHATrC WJNTROL vunevsntML asBSaaaBaaCj!lA CRAV SYSTEM ' ffiLr f.iAeJ iJtSfi V 1 V $? ' 'h ml 'vrVi $; K34 !, i "2,1 si V I V l Vll i l V, .1 kh Ii rff r t n 1 1 !1 it- .!? V & .;& tit!k
Significant historical Pennsylvania newspapers