Half ! 1 ' j J?
Wn0L ' . Tr."vnr."Nrfrrt TiTRT.Tn T.T?.-nnTP.T tstrtHVsiTnr.trnrTA rmrocinAv ttttxt iio wivm ..
EVENING PUBLIC LEDGER-PHltfAtfELPHIA, TUESDAY, JULY i3, 1&20
-.t
P' '-- ..A
,A
i,
i
M
(r
Listed on
it
m
pikadphia and New York
:ki' wiock i-xcnangcs
,v
?" 5 s Yield About .8J2'
" tv
La, The teronertiea of a Public
tjUMlity Company operating in
ik'iAfil .......
-'. Philadelphia represent cash ex-
ry ,ienditures aggregating auout
Thirteen Million Dollars. It has
jisaued $6,725,000 First Mort
gage 5$a Bonds. These bonds
.yield at present quotations about
?8J4o on tho investment, free
of Pennsylvania State tax. We
recommend the bonds and shall
be glad to furnish detailed infor-
ation regarding them.
SMART RECOVERY
AT THE OPENING
&
HARPER & TURNER
1 Investment Bankers
30th Floor Stock Exchange Building
jj ' Philadelphia
J Ecranton Reading
Utnibera of Philadelphia Stock Exchange
i
(
This Offer Closes
July 15th
$300
Will Buy a
Block of 3 Shares
2 Shares Preferred
1 Share Common
The
Goodyear Tire
', and
Rubber Company
of Akron
v.
Thi company, tinea 1908,
baa paid Stock Dividend
of 570 in addition to
Caih Dividend of
$23,342,650.
yAeKlEqCo,
investment Bankers
, tttmbers Phtla. Stock Exchange
Real Estate Trust Bldg.
Philadelphia
Oil, Stools and Equipments
Wore Conspicuous Loaders
in tho Rally
New York, July 18. Substantial re
coveries from yesterday's weak clow .c
companicd tho active opening of to
day's stock market. Oils, steels and
equipments were the conspicuous lead
ers, Royal Dutch, Mexican and Pan
American Petroleums, Crucible, Iteplo
gle and Baldwin gaining 1 to lMi points.
Canadian Pacific and Heading ngaiu
represented the firm to strong rails, with
St. Paul preferred and St. Louis and
San Francisco.
Backward features included the ship
pings, coppers, tobaccos and chemicals.
Buying of United States Steel lifted
the general list to higher levels within
the first half hour.
OPENING LOCAL
PRICES MIXED
Initial Dealings Very Light, but
Were Surprisingly Well
Distributed
While the volume of business In the
opening local market was not very
large, there was a surprisingly wide
distribution of the dentines, again re
flecting a continued widening of interest
In the local shares. Initial price move
ments were uneven and mixed with
about an equal division of declines and
advances.
Among the more noticeable changes
was the decline of $1 in Electric Stor
age Battery to 127 and $2 decline in the
warrants to 22. On the other hand,
American Gas on small sales advanced
$1 from the previous sale to ,17.
Lehigh Navigation, Pennsylvania
Railroad, Philadelphia Electric, United
Oas Improvement and Pennsylvania
Insulated Wire were firm, with frac
tional advances ranging from to Vi.
Lake Superior continued to shade,
yielding to 14.
Philadelphia Stocks
m
1st Mortgage
Bond Yielding
8.65
If you could buy a first
mortgage bond of a
well known company
to yield you about
8.65 would you be
interested?
If
No
so, send
7329.
for Circular
Bonbright & Company
. 437 Chestnut Street
Philadelphia
Nw York
Doston
Chicago
Detroit
30
14H
G!Ui
43T&
21
40
05
fil
lilt.
11:30 Net
ft. m. chse.
.17 1
120 2
221,4-1 fc
no ..
141..
m..
44 - 14
21
G5 ..
lllith Low
30 Am Oas.. 37 37
35 Elec Stor.127 120
12.-1 rln war. 1SU. 11
55 I Co N A SO
210 Lake Sup 14
lfl Leh Nav. 00
OLch Val. 44
lOOfMidStatcs
Oil .... 21
175 Pa R R.. 40
5 Pa Salt.. 05
35 Pa Insul
Wire .. G1J4
70 Phila Elec 22?
225PhlIaRT 10f;ij 10 10
.100 Tone Bel. 1 Mi Mi..
M Un Trac. 20 mJn 2!) . .
10 U (J I... 4Vi 42 4-!..
tNet Chang's mad" by comparison with last
Bale on New Tork Stock Exchanare.
Sales In BONDS 11:30 Net
J100O High Low a. m. chce.
5 Lib Bonds
2d 4s.. 85.50 S5.50 85.50 .28
30 4th 4148.. 85.80 65.04 85.80 .10
0 Penna R R
temp ctfs.102 102H 102
Commodity Markets
COTTON MARKET
New York, July 13. Active buying
of July cotton nt the opening this morn
ing by Liverpool houses explained nn
upturn of 30 points in that contract,
while later months were 7 points lower
to 2 points higher. Spot houses were
the chief early sellers ot .luly, ana
southern concerns and N'ew Orleans sold
t the later options.
I Private advices reported light rains
in the central and pnrts of the western
belts, which would tend to promote
boll -weevil.
Later the market was somewhat un
settled. Liverpool and room traders
sold new crops, but the talk of boll
weevil prevented any aggressive pressure.
(N.T.time)
Prev. close Opening- 11:30 a.m.
July 89fU 30.R0
Oct 33.11 33.30 33.30
Dec 3171) 31. Alt 31. 63
Jan 30 (H an m 30.02
March 30 3'i 30 31
May 'JO OS I'll. 70
Lehigh Valley
R. R. Cons. 6s
Issued 1873
, Due Dec, 1923
' i
To Net 7
TAX FREE
Charles Fearon & Co.
, 333 Chestnut St.
i (
We Recommend
United States Liberty
Bonds
Will Buy or Sell at
Slock Exchange Prices
iDWARD LOWBER STOKES
20 South 15th Street
. I
vi
I fv "
IF
rilllwMHIMMHA. PA.
locust 311
GRAIN MARKET
Chicago, July 13. Lending commis
sion houses bought corn this morning,
which rallied the market after It had
started lower.
The initial Rellinc was brought nbout
by evidence thnt the black rpst scare
in wheat in the Northwest was sub
siding fromewhat and by early estimates
for receipts of 225 cars of corn for the
day.
Cash wheat was firm in nil positions
and British buyers wore sirid to hi
taking everything offered over night.
July opened i,c lower nt $1.504 and
advanced to $1.01; September was
quoted at $1.58 to $1.58 at' the out
set, ngainst SL.'W, , yesterday's laht
price, and moved up to S1.I50V&. De
cember Ktortcrt nt $1.42'j to $1.42.
against Sl.lS'i nt the close yesterday,
and rose to $1.4394.
Selling pressure in oats was not ex
tensive, nnd after nn easier start the
market rallied Premiurns on the cash
article here are attracting more grain
to this center. Early estimates indi
cated arrivale of 100 cars of oats for the
day.
July opened lVio lower nt 00c, but
Improved to 07c. September started nt
7fl?ic to "llKjc. but moved up to yc
terdoy's finnl quotation of SOe. De
cember wns c lower at the start nt
77'Xic. but rallied to IIViC.
The nrrivnls of wheat hi're
were 20 cnr.
I. facing future raniert as follows
Open High Low 10 30
a m
Corn (new delivery!
July . . . l.wi'i i ni
Hept ... 1.38'i
uats
July ... OH 07
Sept .. 70"; SO
Porlc
Sept . . 30 00 30.00
J.ard
Sent . . 10.30 19.03
Illbs
Sent .. 17.50 17.50
Hid.
1.117
l.TiOU 1.3'1
78'i
today
Yet
a m i lone
i "7 i .w;
l .iH l r,sj
n.ii
07 i-i
SO
20.65
10.3."
17.33
78',
:o 05 an -a
10 3.1 10 70
17 33 17.67
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv.
Salts In t HlKh
280 6 AJax Kubber 63
1200 .. Alaska Gold Mines... 1H
100 1 Allls-Chnlmera 37
1200 4 Am Sank Note ...... i
500 10 Am Bosch Magneto. ..U7H
10 12 Am Br Shoe & Fdy pfZls
300 .. Am Can 411$
3000 13 Am Car & Fay 138K
100 6 Am Kxpresa . . 141
(00 e Am Internat Corp.... 80H
300 .. Amer Linseed SOYi
3oo e Am Locomotive 101
3t00 ., Am Safety Razor 18
800 . . Am Ship & Com 24 V,
100 Am Smelt & Ret.,... 6!'
200 7 Am Smelt nef pf. ., 01H
400 3 Am Steel Foundries..' 38i
300 lo Am Sumatra Tob...., si
200 20 Am Tobacco 314
3100 7 Am U'oolen 88
600 4 Anaconda Copper .... 80J
100 .. Ann Arbor pf 30
200 o Atch Top & Santa Fe. 81
100 7 Atlantic Coast Line... 80
300 io Atl Gulf 4W13 Si.lOO .
100 7 Atl Reftnlnc 7 pf...!05
1 Lawrenca E. Brows & Co.
CSHTIHEfl fyW-lC ACCOUNTANTS
'sriiuva
laraiu. 1
anMflarMM' ttm"r Partner!
, rem tfB .' .
(N.Y time)
Tet. clone Onen 1 1 .311 a m.
12 8.1W0.1 12.10rl3
11 70WHO 11 7.1 Ml S6
11 KfrH 11 fsnftHl ....
11 KOWim Ml so I2.no
li niwns li.on 12.00
12.02903 11.03
VS
H
15
18300 3.80 Baldwin Locomotive.. 121 yA
. . Halt Ohio 33 h
4 Baltimore & Oblo pf . . 4
8 Barrett 145
. . Bethlehem Motors nto
5 Bethlehem Steel . ... 8014
S Bethlehem Steel B.... 8K
8 Bethlehem Stl 8 pt,10H
.. Brklyn Rapid Tranolt 11 VS
Caddo Central O & . 17 i
too
100
500
103
300
18oO
100
200
300
IdO
1500
800
300
100
300
100
100
400
2300
100
. 100
300
3000
200
100
800
600
100
200
100
100
1300
100
600
400
700
100
2500
300
2000
500
100
100
100
1100
1000
100
100
1500
300
100
200
500
700
100
11000
800
100
100
000
1800
too
000
100
100
400
400
100
3700
3100
100
6100
400
6 California Packing... 7IJ
.. California Petroleum. 3lJi
10 Canadian Pacific . ...124H
8 Central Leather 04 Vi
4 Cerro do Pasco Cop... 43V5
10 Chandler Motors 101
4 Chesapeake & Ohio... 55Vi
. . Chi & E I pf E T ctfs 7
.. Chicago Mil & St P.. 35J4
.. Chi Mil & St Paul pf. 3H
5 Chicago & Northwest.. 7014
7 Chi & Northwestern pf 09
8 Chi Pneumatic Tool. . 03
.. Chi R I & Pac 38K
0 Chi R 1 & Pac 6 pf. 6H
7 Chi R I & Pac 7 pf. 7
. . Chile Copper 1594
1.30 Chlno Copper 30 H
5 Cluett Peabody 7tK
1 Coco-Cola 30
3 Colorado Fuel & Iron. 34
.. Col & Southern 24 J4
1 Col Oraphophone .... 30
2 Con Interstate Cal M. 13
3 Consolidated Textiles. 34
1 Continental candy ... 13J4
4 Corn Products Ref... 94
2.80 Cosden & Co '. . 38
8 Crucible Steel 153J4
. . Cuba Cane Sugar .... 52
7 Cuba Cane Sugar pf.. 7814
7 Cuban Amer Sugar... 51
. . Debeers 32
0 Delaware & Hudson.. 89 JJ
10 Del Lack & Western. .lt4J4
.. Denver & Rio Grande. 8J4
.. Denver & Rio O pt... 1154
. Elk Horn Coal 21 y,
3 Endlcott-Johnson .... 85M
.. Erie. "H
.. Erie 1st pf 20H
8 Famous Players It. . . . 80X
8 Famous Players pf... 80 H
3 Flsk Rubber 33JS
2 Gen Am Tank Car ... 64J4
8 General Chemical ....170
1 General Motors ctfs.. 26J4
0 Goodrich B F 01J4
7 Great Northern nf... 71H
. . Gulf Mobllo & Nor pf . 31
4 Haskell & Barker Car 74
.. Houston Oil Co 97i
1 Hupp Motor Car .... 16J
4 Inspiration Con Cop.. 60J4
. . Int Agrlcul Corp 24 ft
7 Intl Harvester new... 120
. . Int Mer Mnrlne 31
6 Int Mer Marine pf... 83
.. International Nickel.. 17 Ji
.. International Paper .. 86U
.. Invincible Oil Corp... ito
.. Iron Products Corp... 45J4
.. Island OH VA
., Kan City Southern... 18J&
12:30 Net
I,ow (NTtm) Che.
02 H 62K- '
ih in- a
37 37
43J4 43H-1K
11714. 11714- 14
239 245 12
41 !4 41VS 14
136 - 1ft
141 - 1
86ft .
80ft 4
100ft .
01ft-
0114-
38H
PI -
231 - 4
87ft- ft
56Ht ft
30 4-5
81 , ft
86 1 n
160 4- 2
105
119M
32U
45
143 -
2214
86 -8ft
106ft
11ft .
117ft-70M-31J&
121
C4ft
43 ft .
10H
55ft 7
35ft
99
93ft
37H ..
04ft 4- ft
78? 1?
15M ..
30?- ft
70ft- ft
36
34 - 1
21ft ft
30 -13
31
12 ft
01 38
153 ft
5tft
78 -51
-32
89ft-
136
141
80ft
80 ft
09ft
15ft
24
01ft
91ft
28ft
91
2 it
86 H
50 ft
30
80ft
86
ISSft
K5
110H
33H
45
143
22ft
80
8S?
106ft
lift
17ft
79K
31ft
123ft
64ft
43ft
100H
55ft
7
35
51 X
70ft
99
03ft
37?i
-04 ft
75 X
15J4
30ft
79ft
36
34
24 ft
20J4
13
33 a
12 ft
93 ft
38
156ft
51 ft
78
51
32
89 ft
194 U
5ft
HH
21ft
85f
13ft
20ft
805;
89
33 ft
64
170
25
61
71H
31
73 ft
88
10ft
50ft
21ft
129
31
93
17ft
84H
44
45ft
7
18ft
ft
ft
ft
2ft
"to
to
ft
?
ft
"h
ft
15
H
ft
H
ft
191 2ft
5ft-
11H-
21ft
85J4 13J4
20H
80M
89
33ft ..
f4ft 1
170 434
25?- H
61 - 1ft
71 ft
31 1ft
73ft- ft
07ft 4ft
16ft- H
80ft- ft
21ft- 1
120
31 1
93 - ft
17ft ft
84J4 ft
44 ft
45ft- H
7
18ft ft
Sale
100
100
1200
600
100
200
8300
Dlv.
In I
HlKh
.. Kclsey Wheel 6034
nennecott Copper .... 2634
1.20 Keystone T & R 27
0 Lackawanna Steel ...7434
2. Loewe Co 25 H
.. Loft Corp 15ft
10 Ml.Yll'fm ntMl.HM !
l.0 Middle States Corp... 2ft
900 4 Mldvalo Steel & Ord.. 42ft
00 .. Minn & St Louis ....14 ft
100 ,. Mo Kanfun Tnr iA
.. Mo Kansas & Tex pf. 11
2 Mltfml Copper 2134
.. Missouri Pacific ..... 26ft
.. Missouri Pacific pf... 44ft
2 Montgomery Word ... 33ft
3.80 National Acfo 34 ft
. Nat Anlllno,& Chem.. 83
1 Nevada Con Copper.. 124
8 New York Central..., 69ft
. . New York C & St L. . 30ft
8 N Y Chi & St L pf . . . 55
.. New York N H St H.. 31ft
7 Northern Pacific 72ft
80 Nunally Co 15ft
.40 Okla Prod & Ref 4ft
.. Otis Steel 85.
7 Pan-Am-r B B7ft
6 Pan-Amer Petrol ....10434
4 Parish & Bingham... 3334
3 Pennsylvania R R.... 39ft
.. Penn Seaboard Steel.. 25J5
.. Peoples Oas ffhlcago.. 34
. . Pere Marquette 2834
3 Philadelphia Co 30
.. Plerce-Arrow Motor .. 52ft
.. Perco Oil 15ft
8 Pierce Oil pf 84 ft
1 Pond Creek Coal..,.. 17ft
8 Pressed Steel Car . ...100ft
7 Pressed Steel Car pf . . 07
1 Pure Oil Co 41J4
1 Rwy Con Copper 1034
4 Roadlng 8134
. . Remington Typewriter 60
a Republic Iron & Steel. 04
.. Replo Steel 86ft
8.20 Royal D N Y rts.... 114ft
.. St Louis San Fran... 36ft
.. St Louis Southwest pf 2734
0 Savage Arms 8lft
1 Santa Crecllla Sugar. 13
. . Seaboard Air Lino pf. 14
8 Sears-Roebuck 190ft
.74 Shell Transport 70
... Sinclair Oil 31ft
8 South Porto R Sug pfl08
0 Southern Pacific ft
.. Southern Rail 30ft
7 Stand Oil of N J pf. .105ft
4 Stewart Warner Sp.. 40ft
4 Strorrrberg Carb to
7 Studebaker 74ft
0 Superior Steel 51
.. Tenn Cop & Chem....l0
3 Texas Co 46ft
.. Texas & Pacific 4334
0 Texas Pac Coal & Oil. 50ft
0 Tobacco Products ... 09ft
.. Transcontinental Oil.. 10ft
2.80 Twin City P T 34 ft
8 Union Bag & Paper. . 90
.. Union Oil 31ft
10 Union Pacific HOft
. . United Drug rts ft
12 United Fruit 203ft
3 United Retail Stores.. -78ft
6 U S Food Products... 6934
8 U S Ind Alcohol 0234
200
300
1800
600
100
100
1400
100
2900
200
100
2190
700
100
300
200
800
8100
100
300
100
100
son
600
1S00
500
100
100
200
100
1100
200
17600
' 200
3500
2300
2100
1600
100
100
210
200
100
800
1590
10
3600
19500
1100
100
4700
lliOO
290
000
3300
2S10
1300
1000
690
100
503
300
090
2400
100
2300
703
1890
100
200
4700
200
1C300
600
300
8609
1290
300
230
300
300
30tl
200
100
0 700
2000
400
1000
; loo
12:30 Net
Tow (NVtm) Chae.
934 0634-314
2634 ?
2734
74-3
25344; 14
19314 5
21ft
6ft
11 21J44-
26 1
, 43ft -3.1
ft
34T1
81ft- to
1234- H
69ft- ft
30ft ft
55
3034
2634
27ft
74
H
'114
188ft
Sift
3ft
"ft
6ft
11
21 34
26
43ft
33 ft
34
81ft
13ft
69ft
30
55
3034
34'
ft
ft
'ft
ft
.7214 72ft-
15ft 15ft
y
25
0634
1C3
3334
39ft
35ft
34
2SJ4'
85ft
51ft
15ft
84 ft
17ft
100 ft
07
41
1034
00 ft
68ft
03
Mft
113 ft
20ft
2634
51ft
21ft
14
7 U S Ind Alcohol pf.
. u s Jlealty & Imp.
8 U S Rubber
fl U S Smelt & Ref. . ,
BUS Steel
7 U S Steel nf
6 Utah Copper csft
6 Vnnadlum Corn K7
2 Vlvadou Ino
. Wabash
. Wabash pf A
. Western Maryland . .
. Wstn Maryland 2il pr.
7 Western Union Tel...
4 Westlnghouse E & M. 40K
. wneeung & l. e lift
8 Wlckwlre Spen Stl Cor 303
1 Willys-Overland lHft
C Wilson & Co 59j$
6 Worth Tump 11
0 Worth Pump pf B. . . . 05ft
BO
.. J(9
. . 9934
. 59
.. 3ft
. .mi'Ai
67
18ft
834
20
10ft
, 16
80?4
4ft-
25 -
9734- 1ft
101 ft 1J4
33 Ji- 34
3DT,
25
1755
100 ft
971
41 - ft
1634
90ft
08 ft-
03?4
85 -
11334
20ft
2734
51ft
a -
14
109ft 109K
7534 70
31ft ..
108
0334- 34
30ft ft
105ft ft
40ft- 134
10 3ft
7234- 1ft
50ft- 3
o?4- ft
46ft ..
4234 ?4
50ft ..
6834- 1ft
10ft ft
34ft ft
881
31ft ..
115ft- ft
ft ..
203ft ft
78ft ft
6034 134
0234 34
06 - ft
58ft- J4
0034 1ft
31ft
10S
C3?
20ft
105
40ft
87ft
72ft
50ft
OH
45ft
41ft
49ft
08?4
16
31 ft
88
31
iiaft
to
202 ft
70ft
60
01ft
06
58ft
98ft
59
0234
10734
.08
85ft
18ft
8ft
26
0ft
15ft
80ft
4936
lift
30
183a
53 ft
0
05 ft
ft
M
34
34
tt
ft
ft
ft
Financial Briefs
LONDON STOCK MARKET
NEW YORK COFFEE MARKET
New York. July 13. The market for
coffee futures ouened quiet this morning
with first prices 3 to 9 points net lower
There was a continuation of yesterday's
selling by Wall street and a trade com
mission house.
July .
Hept. .
Oct . .
Dee
March
May
nid.
American" Bankers' Buy African Gold
London, July 13. American bankers
are buying South African gold In the
nnn. market at, about 1M MllllnKa ner
miwee. The' ark BaturMlt .varies ate-
Tho average price of twenty actlie
industrial stocks declined 2 12 per cent
yesterday to 92.08 while twenty rail
roads declined 0.13 per cent to .1.30.
United Statca Treasury certificates of
Indebtedness, known as Series F. 1920.
mature on July 15. A total of J 9 3.9 03.
000 of this issue was sold throughout
the Vnlted States. The New lorkdls-.
trlct subscribed t33.039.500 to this of
fering. These certincaies wm .
accepted nt par. with an adjustment of
accrued Interest. In payment f$r certifi
cates of the Series B, 1921. or TM2,
1921? now being offered by the Treasury
Department
The New York Subtreasury gained
2379.000 fmm the banks yesterdnv mak
ing n cash net gain since Friday of
S930.000
The Federal Reserve Board announces
cold and silver Imports and exnorts as
follows- riold Imports, Juno 20 10 30,
SIO.018.16 : January 1 to June .10,
J124.451.187. Gold exports. June 20 to
30. $2.614 818; January 1 to June 20
$195,415 870. Silver Imports. June 20
to 30. 12,166,711; January 1 to June 30,
$56,071,202 Silver exports, June 20 to
30 $1 582 051 ; January 1 to June 30,
$82,121 618.
Raw Sugars Quiet, but Steady
New York, July 13. Tho raw sugar
market remains quiet hut steady. There
are buyers on the basis of 17'j cen s.
cost and freight, equal to 18.56 cents,
dutv paid, but sellers are Indifferent
Rales reported on Monday Included 200
to 300 tons Java whites and San no
mlngoes at 17'4c. c. 1. f . to a New York
refiner Locnl refiners also purchased
1400 bags Peru molasses mr neiu uj
shipment at 14Sc c. I. f . 3000 tons
Javas for shipment In thirty dnys at
16 1, c. c I, f., to a New York refiner. A
Canadian refiner purchased 500 tono
Javas for July and August shipment at
164c, c. I. f. nnd :w local operator took
1500 bags San Domlngoes In port nt
m-c. c I. f. The local refined m.irkot
Is unchanged. Importations included
19.643 bags Brazils to the American Co. .
32 000 bags Cubas to the aMIonnl Co..
31.100 bags Cubas nnd 650 tons 1 Brnzlls
to the Warner Co.; 23,000 bags Cubas to
Arbuckle Bros., and 1000 bags Cubas
and 590 bags Perus consigned to the
trade.
RAILROAD EARNINGS
CANADIAN PAfinr ,
1020 Increase
Flrt week July . 13. 773.000 jn.13,000
From Januarv 1 932.203,000 ir.,-,30.000
ILLINOIS cnNTRAI.
Mav (trois $10.713 130 $1711.200
beflrlt after taxes 473.310 1 5(14.723
Net operat. deficit 23ft. 2411 1 4117.200
F'C montha- Kruea . .1(11(10 323 12.820. 1.11)
Halance after taxes. 3,002 tUJ 1.t50.nil
Net operat Income t U22.4M 3 B.'l.OOO
JHItSF.Y CKNTKAI.
May Bros I3..VW 17 Jil.l.MS
Deficit after la-ce. "L' 2?. .".?-2.
Net operat .leflclt ..7 310 M2.1.7.10
Flc monthiT Bros. HI H11I..1112 7.2l
Deficit after tHXeK 2.30(1.2.11 2 521,485
Net oper.il. deficit 2, MS. .17:1 2 378.(100.
WAHASII
Mav Broun . . J3.HOI ".r. -$4 1(1,248
Deficit otter taxes nii.in.- i..iis,iaii
Net ouerat deficit Ii(litl8il 1,2011,871
File montha' aroea 20,311). .181 1,.1II811S
Deficit after taxes 1. 070.3111 2,(V.8.418
Net operat deficit 3,321,219 3,2.10,818
Decreaae.
LIVESTOCK QUOTATIONS
Chicago. July 13 - 11008 Katlmatert .re
ceipts 31,000 head, left over 13, nun. 81tw.
nrs ilee. lire 10 i.c iwwer, i in piu
and refused. Average eot yesterday. $15.04.
TATTI.B Estimated receipts. 70(l head
SHEKI' Estimated receipts. "OOO head.
Vlttshursh, July U 1IOOH Itecelp "
1500 head. Lower Heavies, 1I0..10: heavy
yorliera, (18 Unlit orkers (111 r0 iff 10. 7.1.
plus. (11.1(i1il
SHRRP AND LAMl'H Il.celp(s. 200 hend.
Kteady Top sheen $9 50 top lambs, (HI 50
CALVEH Receipts, 100 head Higher
Top. (17 2.1.
Trading Active on Paris Bourse
rarls, July 13. Trading was Inactive
on the Bourse today. Three per cent
rentes were quoted at 67 francs 95
centimes;. exchange on London 46 francs
Trading Brisk In Spots Industrials
Improved Oils Halted
London, July 13. Cheerfulness pre
vailed on the stock exchange today and
trading In securities was brisk In spots.
Gilt-edged Investment Issues scored
further gnlns, helped by a more normal
outlook for money. Russian descrip
tions Improved, owing to the efforts to
restore peace.
Canadian rails were good, following
the application for an Increase of 30
per cent In freight rates. There was
profit-taking In the Bhares of Argentine
roads. Domstic lines were better.
Industrials Improved on Chancellor of
the exchequer Chamberlain's promise to
reduce or abolish the excess profit tax
next year.
Oils halted Shell Transport was 7 5-16
and Mexican Kagle 9 15-16. Kaftlis
were dull.
New York Curb
10:35 a,m.
(N. Y. time)
I) Id Ask
Aetna ctfs OH 10H
Allied Oil 20 28
Allied Packers 15 18
city 3 Hankers ctfs RKb 3HH
Cleveland Motor 60 08
Cosden A Co 7 7i
Cramp old 17,1
Curtlss 3 R
General Asphalt 74V4 75
(lllletto Razor 150 1(10
Ollllland Oil 27 29
(lllllland p.-ef 80 81
Olenrock Oil 2 2V4
Goldwyn 14 Hi
In Petrol n 34Vj 3.1
L V Coal Bales 82 !M
Magma Copper -J8 31
Merrttt Oil 151, is
Midwest Iteflnlns 148 150
Mother Lode new f, n
National Oil 7 7H
North American P S. P 7, 7'i
N Y Shipbuilding 37 43
Peerless 87 3'l
rtuaslan BV4 a 2.1 -jh
Russian H 23 28
SImma Tetroleum 15, in
Hubmarlne 12 13
Tob Products Ex 14 in
Union Carb tin 0')
Un Mine Mex 14 14
United Motors BO n.i
U n Candy 14U is
Un Verde Ex 30U 301.
Whlte. Oil irU hi
Woodbn Oil ... 3?4 4
59 - ft
0234 - ft
10734- 34
68 - ft
85ft ..
18ft ft
894 ft
20 ft
Oft- jya
16 - ft
ROft 4
4034 ..
"ft ..
30 - 1J4
18ft ft
am . .
50 ft
65ft ft
PAPER CLOTHING
NOW
SUCCESS
Germans Now Have Produced
Durable and Washable
Fabrics
Liverpool Cotton
Liverpool, July 13 The demand for
spot cotton was unimproved today, but
prices wree steady on the baBis of an
advance nf 11 pointB for middling at
25.43d. The Bales were 3000 bales. The
receipts were 7000 bales, including 4500
bales American Futures were quiet In
the oarly dealings Spot prices were
American, middling, fair, 30.68d; good
middling. 27 93d. fully middling, 26.68(1 ;
middling. J6 43d; low middling. 21.88d;
good ordinary, 18.68d, and ordinary.
17.68d
Neu) York Bonds
tflALKS IN IIO60I
From Openlno Vntll 13 Noes (N. Y. Timet
Amer'n-Asr 4V
qtum't 6a
B..... 80
Amer'n Axr
cnem a ns
3 0314
Amer dmell 4
& Itefl'c 6s
4 78
0 .... . 78
Aratrl'n Tel A
Tl clt
6.,.. 75
A Tel 4 Tel 6i
1 73 H
1 7Stt
10 75U
1 7BU
1..... 7SU
Ans-French fl
SO
1....
2....
3....
15....
1....
1....
1....
4....
Arizona 4Hi
4 75H
S 76
Ateh Topeka A
R Fe 4s
BOH
00 H
00
09 M
00 0
now
00 0
f)9tt
00 w
Cuban Cane
Busar ev
1...,. (ITU
6..... 07 K
Del A Hud Is
1,... 100u
8.... 100
Den A n U 4i
1 03 H
D Canada '20
1..,.. SOU
1 00
1 00H
10. ...I 91
Erie II Co 4t
4 4SK
Otnl Eo 6a
2 69
1 09
Qov't Swllzer-
land rcta 8s
72T4
72 H
72U
72
72T4
72 H
6.
8....
1....
1....
8....
8....
Atlantic Coast
L rota 7a
2 6734
Dat A Ohio cv
2 68
Holt a O avis
1 78H
Halt A Ohio 4s
1 BOH
Bait A Ohio 5s
B.i... B8I4
Halt A Oblo Us
1 85T4
4 86
2 80
2 86
1 85 i
DIOFLU
A W.Va H 4
6 64ft
B ft O S W'n
niy 3V4s
1 c
B O T01 is
1 46
Bethla'm bteel
Corp'n fd
3 701,
Cent of Qa en
1 78ft
Cent'l Pao 1st
1 CO
1 00 Vi
C A O cv 4Vis
3 7134
B 7134
B 71i
3 71i
1 72i
Chlcaco B'n A
Qulncy Km
2 73
1 73
Chicago 11' n A
Qulncy 4s
04
(14
03 Ti
94
03
04
03 H
9 centimes: 5 tMr cent loan. 81 francs
eWrinir to exstMM4M lnIMa paying .a to oitlmes. The dollar wns quoted at one. usy, lie, i muemy louua up
sTliThtiy, higher ,prl4. thiuAmrrlcji,. .11 tTtMt?3y, cvntlme T ' ' , nod gave It uO lorcver, ,,
MAINLY ABOUT PEOPLE
Sir Aiicklnnd (Jediles. the new British
ambahkador nt Wnsiiington, wns a splen
did athlete in his college dnys, and" ex
celled at rugbr.
T. I. O'Connor, the brilliant Irish
jnurnnliHt nnd politician, !n now the
oldest member of the House of Com
mons in point of service.
Arnold Rcnnctt, one nf tho highest
pnid authors in the world, wuh a strug
gling lnwyer before he turned to litem
tuie n a profession.
I'rlnce Heurj Is a keen nthlete, prob
ably the most athletic of King George's
KitiH, and is purtieulurly interested In
running and rowing.
Mary Miles Minter, one of the most
prominent nnd popular of the younger
motion-picture nctresses, began her pro
fessional career ns n child player in n
company headed by the lute Nut Rood,
win.
London's new poHtmnstcr, ,Mr. V. ('.
Sumlrrsou, who linn elinrge of the larg
est postal nreu in the world, with some
thing like .'tn.OOO workers uudcr him,
began IiIm career In the service as a
poxtal clerk forty years ago.
John Galsworthy, the famous novelist
and dramatist, was once a keen sports
man, but for many years b? has, never
touched a sun. Watchiriirn dvlnar bird
one day, lielsuddeuly found uport ugly
DON'T MELT IN THE RAIN
Paper clothing that would withstand
the rain nnd not rasp nnd crackle ns
the wearer strode nlong wns one of the
novel Inventions to which severe war
shortages forced the Germnns. Dr.
Osknr Spohr. who followed tho srowth
of this Industry, in n recent review of
me steps by which the paper fiber was
developed Into wenrnbie nnd washable
TTinfoetnl ulcka. Li. y, -..
-o-mii-1 iiin uermnn renders
thnt their pnper clothing today Is not
nan dou.
Doctor Snnlir lell on : .1
ctnrr nt (Tn;, ; I ".',' "" '""""'"B
u.... .....-, , i-iniup nntion when
nil sources of supply of mnterinls for-
llli:i I., UDCU WCrC PITPPMfftlf enn n. fT..
problem, lie show, wns one of largest
magnitude, for before the war German v
ZVniTSnt V10,", tl,p 0,ltRi(I worlll
for Uo.Ii ner cent of n... r.ti -
'',"" ?' el"L V? ! matcrlalfj. .When tho
nlutln ., ,j UeKnn to mil the outlook'
was serious.
Habhlt Wool
All the old and out-of-date clothing
of the nntion was brought out of for
gotten chests nnd long neglected store
rooms, and this supply eked out the
"ifi8 ?f J !e po,;p,p for a li""- Mean
while textile technologists made feverish
search for some substitute. Knrlv in
the wnr it was proposed thnt rnbblts
should be raised in unprecedented num.
bers to supply the failing national table
with meat and the looms threatened with
stnrvntlon with n new wool fiber. It
was soon shown, however, that rnbbit
wool could not stop the gap
It was soon decided, Doctor Spohr re
ports, Hint onh wood pulp could be
produced iti sufficient quantity, to cope,
with the huge textile iemitl. Tho
working of wood nulp into pnper fiber
of durability had been done before tho
v.ur jur me purpose or Dog making and
the making of coers for inside use.
Perfecting the Process
The raw material, after treatment
witn nenc nim chemicals, consists of
tiny fibers, two to four millimeters
long, or much ton short to be spun upon
any machines so far invented. It was
ncccrwy, im-reiorc, to work these tiny
fibers into paper, cut the paper Into
strips nnd spin thesH strlrm. Tho ,.
suiting yarn had all the disadvantages
iiiov i Muuiii ordinarily imagine.
Woven into cloth it wns hard, brittle,
easily tearablc, und, wheu wet. it dis-
solved much iikc ordinary paper. It
was serious ousuiiess to venture forth
Into the rnln clad in the early paper
2
2..
3..
3..
1..
2..
1..
Chlcaco Mil &
St P. 4s
1 65
!.... 61
Chlcaco Mil a
SUPcv 4Us
2 03 H
1 03
2 03t,
Chlcaico Mil A
fitl fd 4Us
B B4U
Chlcaco Mil &
StP am 4 Ha
2 C8T4
Chlcaxo Mil u
8t P cv Ba
2 02K
2 02V4
1 03U
Chicago Union
Sta ct 6Hs
3.... 101U
Chile Cop'r 7a
1 07H
City llord'x 0s
4 84u
Clt' Lyons 0a
1 84 ;
3 84H
City Mars'a rts
1 84;
3 84 14
Cty New York
44a '03
1 02H
city rarls ns
2 04
0 04
0 04
Cons'd Oas 7a
2 00V,
1 OOH
1 09 U
2,.
t::
B...
7...
10...
B...
10...
S...
6...
2...
10...
6...
fi...
1...
1...
6...
B...
4...
B...
mot:
1 102K
102H
102 ;
. 102 H
, 102H
i 102
, 102H
, 102 H
1 102S
102H
1024
103H
102H
102
. 102
102H
1 102H
, 102S
, 102'.;
. 1031,4
. 103K
111 Steel 4 Ha
1 74H
Interboroucb
Itap T fd-
1 46H
B 46U
6 46H
6 46H
Int' I Merchant
Marine 6a
4 8B
Kansas City A
Bouth'n 8s
2 53 H
Kansas Cy T'l
Hallway 4 a
1 63
Klmidom of, U
10 06
1...,. 06
B 06
Klntdom Bel'
slum 7Hs
1.
12..;
20...
1...
2...
10...
10...
n
25.'!'.
25...
2...
B...
1...
3...
3...
a.'..
3..
90
. 00
100
100
100
. nn
100
100
100H
100H
100
100
100
100
100
100
100
Lake Shore M
B'n 4s '81
B 77
Lorlllard C 6s
B 77
Louis A Nash
ville 4a
1 78
Louis A Nash
ville rcta 7a
4.
2...
11...
0...
10...
3..
100
101
100
100 ;
100
100
Mlchla-'n State
Tel Co Bs
2 63 u
Mldv'e Steel A
Ord'e 0s
1 7811
1..,.. 70
2 784
4 78
Mo Pao cm 4 s
2 B2S
1 52i
8 B2
Mn Pac Bs '23
S 8011
2 80111
Montana row
Co Bs
4 78
N Y C A II II
R It 3Hs
3 64
N Y C A it n
Iin en 4a
n 04i
B 04
N I C t 11 II
n n 6
2 86
3 87
N Y Llcht II
A Pow'r 4 s
1 58
New YKH4
Ifort'd 6s
B 70
N YTsU 4
1 70H
N Y Tele's Us
,1 80
N Y W C A 11
nn 4s
2 40
2 4114
lOreson Short
Lin 4
1..I.. 76
N'n Pacific 3s
S 61H
1..'... B1H
Paelflo Tel A
Tel Ba
3 84
Penna II ft 51
61.,,. 83
Penna ItRTl
i... lout
2.... 102
4.... 103
2.... 102
Ileadlnc R 4s
3 76H
Wo Qrand A
West'n clt
2 40
Rock Isl'd Ark
A 1, 4H'a
li... 63
St L A 8 K aj
61
01H
01H
61
61H
61 li
7...
1.
1.
B.
1,
S.
Pt Ij A 8 V In
10
1 48
3 48
1 48
8t 1. A 8 Ffan
8r;. Mn
10 B4H
2 Bill
B B4H
St L A 8 Fran
Series B
8 074
8 67
4 67
St'li A 8 Fran
Series C
1 83H
5 83
St L A South
W'n cv Ba
B 07
Sclota Valley
A N B a
1 69
Seab'd A L fd
1 4014
8 40H
6'n Pacing 4"
3 OIK
S'n Pac cv 4a
2 70
2 73
2 7B
1 75
B'n Pao cv .is
20 00
B 00
10 06H
S'n Rallw'a 4s
1 B7i)4
18 67
S'n Rallw'a Bs
1 80
Third Avenue
R R 4a
2....; 40
Union Pac cv
1 70
IB 70
Union Pao td
12 00
U K O B I '21
2 08
1 00
3 05
U K O B A I
rcta 'ZZ
1 03
2 02
U K O B A I
rcta '29
1 03
U K O B I '37
J Hl
0 80
1 85
1 80
U a Mexico 6a
1 87'4
5 87H
4 37
U B Realty &
Imp't Co Ba
10 81
U B Rub'r 5a
Hlch Low
Liberty .IVis 01.00 1)0.04
Liberty 2d -Is W.40 S.I.SO
Liberty 1st 4!4s.. S0.30 80.2S
Liberty 2d 44s... r.-i.() 85.00
Liberty 3d 4V4s.. 811. 20 89.10
Liberty 4th 4s.. 8.",Mi 85.00
Vic Notes s... 11.1.1m 1)5.02
Vic Notes 4... 1)5,118 05.02
70 H
70 H
70S
70
70
70
U 8 Steel Bs
4 m
2 01
B 01
Vlr'a Carollni
Chem Co 1st
B 02 U
Western Pad
fie 1st
4 70
West Shore 4s
B 70
Wilson Co cv
1 80
(N. Y. time)
11:10
1)0.04
85.40
80.20
85.00
80.20
85.80
05.04
05.04
suits.
Patient development nf tho mntni-i.ii
however, ft proccM of twisting the fiber
nun ircnuug it witn ciienilcals, Hiinllly
cimbicd the production of a paper fabric
which not only could withstand the
rain, but which is wnslmhlp. wttluiitt
any apparent injury tn (ho cloth, more
thnu fifty times. This new fiber is soft
and as flexible as accustomed textiles
nfid can bo givn a rough surface. New
York Suuf
W8iuyi
Bar ftuvar wftB'tiuoMa
I . I '--. . I . "slj. " ". J
We rccomrricnd and offer
Subject to sale, when, as and if Usuttd
1
Armoui and Company
7 Ten Year Convertible Gold Notes
Due July IB, 1020 Denominations: $1,000. $600, $100
Price, at the market! Yielding about 7
Exchangeable after January 3, 1921, if hote-holder
wishes, into a like face .amount of Armour and Com
pany Class "A" Common St,ock which will be entitled
to 8 cash dividends before Class "B" Common Stock
receives 6 after which both classes will share alike.
A complete deadription of these notea will bo supplied upon'
request for Circular PA-SO.
HALSEY, STUART & CO.
Incorporated Successors to N. W. Ilalscy & Co, Chicago
LAND TITLE BLDC, PHILADELPHIA
Telephone Locust 4820
NEW YORK DOSTON . DETROIT
MINNEAPOLIS MILWAUKEE
CHICAGO
ST. LOUIS
The Earning Power of Your Dollar .
Is Increased
when Invested in the Preferred Stocks iuued by well-
established Manufacturing Companies producing our
essentials. '
Your Dollar wtH assist in financing increased produc
tion, which should decrease the cost of qur necessities.
We have a tartfallj selected list tf
Preferred Stocks', zehith we recommend
, to the most conservative investor,
Welding 8
""" Ask for Fotder No. PPL-SS7
IiolJister,White 8c Go.
eooATo.
BOSTON
SPRlNCrlILD
North American Building
PHILADELPHIA
PROVIDENCE riTTSrULD
NEW YORK
PORTLAND
Baldwin Philadelphia
Philadelphia is famous throughout tho world by reason
of its varied manufactured products, and among those
which have materially aided in spreading tho famo of
this great industrial center are the thousands of loco
motives bearing the Baldwin Badge Plate.
No matter where you may travel, it is possible that
you will find that your train has been hauled by a
Philadelphia-built locomotive.
The Baldwin Locomotive Works
Philadelphia
.
Statistics Show That Most
estates of $5000 or more are dissipated in a
few years where there is no trusteeship. We
assume the responsibilities of a trustee, which
assures the future of those you wish cared for.
A consultation with us moy set your mind at ease
on many of your financial responsibilities.
REAL ESTATE TRUST CO.
OF PHILADELPHIA
Broad and Chestnut Sts.
FOREIGN EXCHANGE
New York, July 13. The principal Eu
ropean exchanges were lower at the
opening of the foreign exchange markets
this morn In p. Demand was off H. francs
2. llrpB 2. and Swiss 2 point nhrlRtlnnla
wan up 10 points and marks were un
changed. Quotations were:
Demand aterlini; 3 93. cables 3.0394 :
franc cabin, 11.90, checks 11.92; lire
cables 16.65, checks 16 G" ; Swiss cables
18.02, checks 17.96; guilder cables 35.
checks 35 U ; peseta cables 16.20, checks
16. IS! Belft-lan cables 11.10. rhrrk
11.12; Stockholm cables 22.20, checks
22.15; Chrlstlanla cables 16.80, checks
16.75 ; Copenhagen cables 16.76, checks
16,70; marks 2.62.
YKSTEnDAY'S FINAL QUOTATIONS
titerllnc Francs Lire Guilders
Demand ... 3.01 U.W m,n 35
Cubles 8.01'j 11. 8S io.RH 33?
TODAY'S OPENINO QUOTATIONS
Sterling Franca Lire Guilders
Demand .... 3.03.. 11. nj 111.07 am'
Cables 3.03H II. HO in. 05 35't
MONEY-LENDING RATES
WAY vonK Money on call, both
classes of collateral, opened today at 8
per cent for lending and renewing.
nilI.AII?I.riIIA Call, 6 per cent;
time, 6 per cent; commercial paper,
three to six months, 8 per cent.
(.Vote These are merely nominal
quotations, as the legal rate of Interest
In the state of Pennsylvania Is fixed at
6 per cent. Plus premium and commis
sion time money for thirty to ninety
days Is loaning at 8 to 8ti per cent,
while commercial paper from three to
six months is being offered at 8 to 8Vj
per cent.)
Reserve Banks' Discount Rates
Official rediscount rates at the twelve
Federal Hcserve nanus are as follows
noston
Ner York .
Philadelphia
Cleveland
Jllchmond . .
Atlanta . . .
Chics bo . . .
Ht. Ixiuls . .
Minneapolis
Kansas city
Treas.
rtfs.
. r,v5
, n
Lib. Cftm'l Uteri
Bonds Purer Accept,
Tlatlna hVL.
San Francisco.. 5H fl
0
fl
r.',i
a '11
.vi a',4 M4
OH ' 'i
WOtt oft
GOVERNMENT BOND8
ranama coupon
t'anamit reilslci
red
1030....
2s, man.
1B3N....
111(1
.1001,
.1001
.100';
1 ih -'
Panama courwn zs. man, ... . . iuu ,
Panama rcalstored 2s, 1038. . . 100J
I'anama coupon , nitii ...... 11
Panama rrftlateied 3o, 1001... 77
Philippine 4; 10S1 ,' ,. 7
Philippine U, IliM t. 78
Philippine 4s l.Sil 7S
I! K Govt coupon 2s. 1030. . ,,10IHi
U fl Govt mistered Us. lM0,,i0OU
U H Oov. coupon 4s, 102ft, .1. 10H
U 0 Crovt retistsred . 1P2A..10R
Dlt of .Columbia, 3-flBs. 1924., P3
n
Ask
ui
101
101
HI
M
HI
S.I
HUH
High Yield
Short Time
Convertible
Notes
issued by one of the
largest companies of its
kind in the world. Net
assets equal five times
total issue of Notes.
Equity represented bv
outstanding stock
about three times
amount of Note issue.
Convertible into pre
ferred and common
stock on a basis which
may prove very valu
able. Send for Circular No. E-78
(5handler& Company
IMC.arMMCS
Franklin Bank Bldg.
Philadelphia
New York llnston
New lluven Haltlmora
JULY 1920?
Where, today, will the shrunken
dollar go as far as in the purchase
of high grade securities) Many
excellent Issues can now ba ac
quired at a fraction of their worth,
what are the outstanding stocks
and bonds deserving of consldera.
tlon In July' market and why)
Our special letter "JULY 1920"
analyzes certain Issues deserving of
the investors' consideration. Send
for FREE COPY.
Marketable securities
carried upon conaerno
tive marginal 6ali. ODD
LOTS a iperlaltv.
MILTON HEIM & CO.
Saee;nr (0 Ooldber 4 nrim)
Members 1 hl'. Stock F.irhanse
I Cons; Stock Kx. of N. V.
1622 Chestnut Stroot
I'honesi Hell. Spruce flOn.lSOO
.. .. Keystone. Itace 750.
71 Itroadivnr St i0 nth Ave,, N, Y.
Stamford, Conn.
i,.
( I r.r
V tlpiVIDI-ND8 DBOLAHED
lay I '' WWtP'Nlci!C0',1 WrtVfhdf, 11.60 !
"f I on.wfirpi ..psyabW Awruaf8 to atoek ir
llllllllllllllllllllllllllllllllllllllllllllll
1 Weekly Cotton Letter I
Giving the. complete dally price 5
ranro Md tho weather conditions s
oyer the entire area for the pre-
ylous week, together with newB of
timely Interest.
Sent free on requeit E
I H. F. Bachman & Co.
H . .. Members S
frhlladslphJa Rtoek Exehaat 5
,, -New York Cos JKianM 5
1428 W-Iwit J AlUjll-1.1. I
Six Per Cent Plus
"I would rather get six
per cent, plus 100 safety
and peace of mind," writes
one of our customers, "than '
get a- higher rate with '
constant worry, trouble
and the possibility of loss."'
Bonds safeguarded under the ,
Straus Plan bring you thiq
six per cent plus plus 100
safety, service, and peace of
mind. Write today for out1 '
July Guide, describing offer
ings of these sound bonds in
$1000 and $500 amounts,
netting 6 with 4 Federal
Income Tax paid. Ask for
BOOKLET 427-Q
SWSTRAUS&C0.
lltAtLIIHtS Hit
IMCO.eO,ATl0
stock rcxciiANon nniLDiNO
riiii.ADi:r.riirA
Telephone Spruce S62S
Thirty-eight years without loss
to any Investor.
Tennessee Power Co.
First Mortgaga 6s, 1962
Portland Rwy., Lt. &
Pow. Co.
1st & Ref. St
Due 1042
e.tt).eia.keo.
I1AXIUSBS
321 Chestnut St., Philadelphia
Vanbert few York and rn(lxI!M
fltock sszehanpea
Scranton Elec. 5s, 1937
Phila. & Sub. Gas & Elec. 5s, 1M0
Sun Company 6s, 1929
Hale & Kllburn 6s, 1939
B0ENNING, GARRISON & CO.
few Verk
STOCK EXCIIANOK lHJIl.piNn
rect Private Telephone ty New
Members rhlla. Stock Uxibaol
Sales Executive
leal man, 29, wide WPeHaej
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now reweeni
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