Evening public ledger. (Philadelphia [Pa.]) 1914-1942, August 03, 1920, NIGHT EXTRA, Page 17, Image 17

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EVENING PUfeld dEDGEKr- PHILADELPHIA" TUESDAY, AUGUST 8, xi9&-
f
C I , '
- r irii-ji .
,TJJndon stook market
Checkercd-K.ff1r Cheerful.
,9"V ...1.1 Auction Lacked Snap
,n" Aii j,jrhero was noJn
". ,7the altehdMio. of broUira
..k the resumption 01 """ "'""
3k hatiKo today, -in
iato. but Bcneralleteady.
.. Iiied investment Issues were
,m'$K?big the distribution of 1,0.
v iS dlvtfendg today. Dollar ee-
e'ill.'' Jf IS e York exchange.
K.n "II. -ere dull, but the
. "'.". r Mexican ini" ""IT'.--
en -- prone h loane wcro weaKer,
!?1e8f; nr7paratlona for the notation
owing w a r,tr cent Issue,
of a new 6 per Trannpori
01I.i and Mexican Eagle 10 1Mb.
tU .B?..r L fhB Kafllr department was
M'" tonoth.? advance in
Sf Sim of bar sold.
1 The Industrial bc'" """"" "'-
uT.on Bay was 6 11-10.
Haw 8ugar Continues Quiet
. . i.. 9 TYiik mnxlret for
.Jnr contrnueB' gulet but steady.
i'blTh bSyers and" .ell. ahowtaK
ii.nnnltlon to await luruior uo.biuj.-
,, disposition eale wcordjd L o!vMqn-
Te .?.'.. i. Tot of 4200 bags or uudbs ror
WLnt the flre half of this month
hlrment tne " .. Amirirftn Tin.
!?.Nrro at U cenu. cost and
flnne Co, at VJ. ioiii,iri ii nnn
rfba.fi National CoT; 10 481
SS Ccub and ., M.000 bag; Porto
n7Sw to tho American -, . ".
i, X.V. Vn the Fcaerai uo. ; iu.uuu uii;
Sub. meos to Arbuckle Brothers, and
?jm bigs Argentine whites consigned
We. The local refined market
remains "' "
Loading Livestock Duty of Railroad
WMlilnKtoD. Aug. 3. Collection of
,hlrs for unloading and loading live
...v in addition to the rates on live-
$! S and from. Chicago stock yards
"..mind today by the Interstate Com
yali Commission to be an unlawful
'? unreadable practice. In deciding
f, "brought by the Chicago Live-
trie WSB. "i"" int thn AJp.hlBon.
,0aa and toiUa Fe Itollway Co; the
ttSlTMatluit loading and un-
loading of 1 vwiock " uw ..fcu ,-.-
vs rt au'y UJ ",v " T
fJEW YORK COFPEE' MARKET
New York, Aug. 3.The coffee mar
ket was empty this morning and senti
ment Wnslncrvoun.. Tho nnnrnm'nrn nf
a few selling orders, In liquidation, gave
Dears another opportunity to depress
values and prices on the call were 10
to 13 points below the previous closing
figures, with ecant buying power In
evidence.
After the call, nctlve months sold off
C to 7 points, December selling to 10.48,
Mnrch to 10.70 nnd May to Jo.78, but
nround midday prices summed bark to
tho best of the morning, although trndc
Wfln ntllor.
Prominent trndc Interests expressed
the belief that Hantos Is slowly recov
ering from the recent chaotic condi
tions prevailing there and that, while
tJic recovery may not bo rapid' until
they have sold more coffee, they sec a
gruuuui ucui'riui'ui.
NEW YORK BOND SALES
Summary of Individual Transactions on New York Exchange
8AMJS IN ilOOOl
Srronf Opnlnr Until 3 p. in. (N. T. Time)
Vmer'n Aur &C'k A O ov Si Grla Otnl LI.
B 7B'i
8 7BH
Chi A Alton Si
2 S3
C & A char fia
1 83
CB&QU3U
Test. Tody'
cloo otyn
(tent. .. J0.80O32 10.2OSO
Dee. .. 10.04t 10M(.(5i
March. 10.8fi0 10.73073
Mar... 10.03011.00 10.81083
Bid.
(N. T. tltno)
11
a. m.
10.20031
io;4r,
., Liverpool Cotton
Liverpool, Aug. 3. -There was a fair
demand for spot cotton today with
prices easier on tho basU of a dccllno
of 69 points for middling at 26.50d,
The sales were 7000 bales. Tho re
ceipts were 6000 bales, none American.
Futures were quiet In the early deal
ings. Spot prices wore: American, mid
dllriK fair, 30.81d : good middling.
28.06d; full middling, 20.81d; mid
dling, 2B.66d; low middling, 21.76a;
good ordinary, 18.66d, and ordinary,
17.66d.
GOVERNMENT BONDS
r
27
10.
33.
00.
S 0.
ArK
ranama coupon St, 1033...
Panama ratlatercd 2i. 1038.
Panama coupon 2a. IMS....
Panama registered 2a, 1038.
llld
ino
ion
toil
.100t
Panama coupon 3. 1001 77
Panama reglflttrcd 3a, 1901... 77
PhltlPDlne 4a, 1081 T8
Phlllppma 4a. IBIS 7s
Philippine 4a. 1930 7S
V S OoJ coupon 2a. 1030.. ,.ln(ii
V H Govt roRlateren 2. 1030..100i
u 8 Oovt coupon 4, in;. ...ior,
V.S Oovt rK(Btned 4. 1D2H..10',
Plat or Columbia 3-(10. lli'.'l. on
-t 'f--i-xtxj jJk-J
The' Alien Property
Custodian
during the Great War sold various prosperous concerns
at auction, in many cases at forced bargain prices.
For this reason we have been able to purchase a
block of the securities of one of these concerns, the
Eiscman Magneto Corporation, which wc can offer
at
5 SHARES OF 7 PREFERRED STOCK
I SHARE OF COMMON STOCK
Total Cost . . $498.00
and. accrued dividend on Preferred Stock
This Company is one of the largest and oldest
manufacturers of magnetos in the United States.
There it No Bonded Debt
Earnings, before taxes, are at the rate of about 6
times the Preferred Dividend' and about 18 per
share on Common Stock.
Descriftive foot let upon request
Eastman, Dillon & Co.
Members New Ycri Stock Exchange
INVESTMENT BANKERS
71 Broadway, New York
Amer
Cham d 5s
l...t. 02
Amer Doclt A
Imprv 0a
1 07't
Amer Bmelt'k
& ItcH's St
2 78u
A Tel Tel cit
1 7011
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1 75 i
1 73i
1 70
1 73
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City Mara's 69
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11
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1 84H
1 84
1 83
5 83
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5 72H
5 71
Jap Oov't 2nd
1 71H
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1 78
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6 85
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6 00
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1 71H
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Mexico 4a
1 68
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Mexico 6a
1 52
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1 04
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1 87
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1... .741
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1 70
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4 78
N Y Tele's 0a
1 80
2 i85
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6 40 li
1 40
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1 76
7 76
2 76
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6 07
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On N J 5a
4 60
4 60
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1 70
3 70
1 70
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1 40
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1 40
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Fran aj
2
64
54
53
CI
68
63
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32
321;
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5 05
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62
62
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6'..... 68
N'n Pacific 4a
3.,... 76
Orson S L 4a
1 77
3 70
1 77
Orr-waeh'n R
Co Nav Co 4a
1 60
2 63
Pao OlEli
2 74
Pac T A,T 5a
2 70
Pa R rm 4V1
1 73
1 76
Fenni It R 6a
3 82
4 82
1 82
1 83
Pcnna R R 7a
102
61 li
61
61
61
61
61
01
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47
48
47
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47
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47
47
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47
47
47
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48.
47
48
48
47
48
48
48
48
48
B'n rao Ter'l
H...1. 65
B'n Itallw's 4a
1..... 08
2 68
1 68
6 68
B'n Rallw'a Ba
2 80
2 82
Ter'l It A of
St li 4a
4 63
Third Ava 4a
5... A SO
1 30
Union Fao fd
1 78
Union Pao 4a
8 81
2 81
2 81
Union Pao 6a
... 07
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U K of O Drit
A I'd 1021
8 06
10 00
25 00
U K of O Brll
A I'd 1B22
2 01
8 01
5 01
1 80
U K of a Brit
A I'd 1920
85
85
84
84
84
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84
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84
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UKolO Mm
A Id 183T
.13
65
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65
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55
Diet's Secur'y
Corp'n os
1 77
Dome Mines
Co 4a
IB 00
D Can 5a '21
2.,... 07
3 07
o Canada '20i
1 80
D Canada '20
2 00
1 00
1 00
3 00
Dom Repub 6s
10 87
E'n Ten Va A
ueorsla en
1 80
Erie R R cv A
2 38,;
luck Steel '23
1 00
Lake Bhoro M
S'n 3B-
1 60
Lake Shore M
S'n 4s '28
2 70
Lehch V'y 6a
1 00
Ltc't A Myers
Tob'o Co Bs
1 77
Ltc't A Myers
Tob o Co 7s
1.... 102
Lorlllard C 3s
1 78
LAN rcta 7a
4.... 101
1.... 101
Loula A Nash
Mono 4s
6 63
Mln St P A S
Ste M 4s
1 74
2 74
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$adto(ur$prub
are theSNecessibes
for ffiefdvancement
of ' GLvilizotion
Do you need a con
venient method or
recording your in
vestments? Wc
shall be pleased to
send you a copy or
our Loose-Lear
Security Record
without cost or ob
ligation upon re
quest for Book No.
PA 24.
v
a
ii j .
if '
B
ka
-.
AN AWAKENED AMERICAN INDUSTRY
CAPITAL for ages past has found profitable
employment in ships and shipping. With
modern steel steamships, modern safe-guards,
and established trade-routes, the former risks
of the business have been almost entirely re
moved. Sailing the high seas is today one of
the least hazardous of transportation callings.
With the 'larger demands resulting from the war,
American shipping is resuming its former position of
leadership, and .capital is today offered increased op
portunity for investment in this essential industry.
Bonds-secured by first mortgages on modern vessels
offer exceptional security to conservative investors.
Steamship bonds of responsible companies, issued in serial maturities
under exacting restrictions as to amount, maintenance, creation of ad
ditional debi, insurance, etc., form a part of the varied list offered by
Hajey, Stuart sT Co. As with all our recommendations, such bonds.
1 are investigated from every angle prior to our own purchase and
endorsement of the issue.
A representative Halicy, Stuart is" Co. offering of this type is
Elder Steel Steamship Company
First Mortgage Serial "Q Bonds, t
Due Jan. I, 1921 1930.
-
A circular dttcrivtivc ,0 his and a aide variety ot other tatt
Investment fcotida )IU bo I uj'o requcsl or iainpMet FA-li
HALSEY, STUART & CO."
Incorporated Successors to N. IF. Haisey & Co., Chicago '
LAND TITLE BllLDINO, PHILADELPHIA
N TELEPHONE LOCUST 4820 ,
' CHICAGO NEW YORK 008TON , DETROIT
Bl T. LOUIS " MINNEAPpL(8 ' MILWAUKEE
2 "
mm b i 1, ;
1...
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1...
1...
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102 w
102
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102
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at I. A a Fran
Series B
8 60H
6 60 Vj
St L A S Fran
Series C
2 83N
14 83
6 83
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1 .... 33
0 33
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5 33 U
Seab'd A I. M
4 40ib
2 40S
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1 74 'i
B'n Tao cv 4'
8 70
1 75
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10
5
10
Wabash
1
Wea'n Elec i
84'i
Weat'n Md 4a
10 40
,Wn Pacific lat
1 70'i
Weat Shore 4 a
1...... 08'4
Wilson Co cv
5 84
1 84
(N. T. tlmcl
i:id
Ijlbcrty 1st 4s
liiberty 2a 4s
Liberty l8t 4V4r.
Liberty 2d 4Ms..
Liberty :itl 4s.
S.1.40
K4.48
85:70
fi4.(i,S
88.04
85.10
05.70
05.70
T.ow
01.00
85.40.
84.112
85.50
81.50
88.4
84.1)0
05.00
05.01
n. n
01.00
85.40
84.48
85.00
84.04
8S.50
"85.00
05.0(1
05.08
Financial Briefs
The New York Subtrcatiury lost $206,
000 to the banks yesterday, making a
cash net loss slnco Friday of $770,000.
The nvcraflre price of twentv active
Industrial stocks declined 1.00 per cent
yesterday to 84.95, while twenty rail
roads advanced 0.04 per cent to 73.07.
No request has vat been made hv
Chlnn to tho American group of bunk
ers In the International consortium for
a loan of $9,000,000, accordlns to
Thomas W. Ijunont. of J. P. Morgan A:
Co., who recontly returned from tln Far
Knst, where he went to ascertain con
ditions In China and nlso to brine Japan
Into the consortium.
Arthur n. Post, assistant Federal He.
serve agent, and Walter I. Grosscup,
of tho Federal Reserve Bank of Phila
delphia, have returned from Seattle
where they attended tho nnnual conven
tion of the National Association of
Stato Dank Supervisors. A
Haupt & Co, dealers In commercial
paper, bank nnd trade acceptances, an
nounce they hnvo become associated wltn
and will trade In future as Ilond &
Goodwin. The olllco will remain at 104
South Fourth Btreet.
Commodity Markets
VIOLENT BREAK IN COTTON
Net Declines of 75 to 95 Points
Scored In Early Trading
New York. Aug. 3. Cotton experi
enced a further decline this morning.
Tho opening tono was weak, with first
prices '19 to 16 points lower.
Selling was heay and,, general lod
by the South, particularly the Atlantlcs
and Wall street, and prices continued to
fall, breaking to a not decline of 75 to
06 points before the end of the first
fifteen minutes
Much of the cotton that had been
covcrod on yesterday's rally was thrown
on the market ngnln.
The receipts nt the ports for the day
arc estimated nt .'1000 bales, nRiilnst
7214 bales n week ago, 14,440 bules a
year ngo, and bum bales two jears ago.
(N. Y time)
1 1 -30 1 :30
Yest close Opn n in i m
October . . .'31.70 31.00 no.HK 30.S5
December . 30 68 30,45 30 17 n or,
Jaiiu-iry . . . 30.00 Vll 75 SO 15 I'll V
.March 21) 7.-i 20 4 20.10 I'D 1)3
May . . . 211.32 2I),2'I
li
3
,j
GRAIN MARKET
Chicago, Aug.. 3. Offerings of whout
were scarce today, ami on general buy
ing in unall lots prices M'oretl nbnrp
gains. Outinurd abseuce of tain over
the grain belt served as an incentive for
purchasing. The demand for export was
better. The cash article flNplnyed more
stability. Keeeipts were .'175 curs.
December opened nt $2.17 to $2.20,
against $2.1.1Vi nt the end .wstcitln),
and later sold at $2.21 March ad
vanced Tie to 52.20 nt Hie outset, and
luter touched $2.21.
Com also opened stronger on gen
eral limine bv commission houses, will)
offerings light. The upturn hi wheat
was a factor, ns was less fnvoroble
weather. The arrivals here toduy wcro
217 cars.
September started nt $1,889. to S1..19.
against $1.37 nt the end yesterday,
nnd later sold nt $1.30: December
opened nt $1,33V to $1.25, against
$1.22, yesterday's last price.
General buying In n small way made
oatfl firmer. Offerings were limited.
Drought In Illinois was expected to. ef
fect the quantity nnd quality) of oats.
iieceints were ih cars.
(September opened nt tlO to 70c,
oguHt,.0pc.at the cIoho yesterday,
,Pecenbftr' ope4 at 6pc tto. 6flHc,.
Aialntit 08c,eflterday'8 last price. ' 'H
N
' ' i Free From Normal Federal Income Tax
- j
i $7,500,000
Liggett's International Ltd., Inc.
8 Cumulative Preferred Stock
(Par Value $50 Per Share)
Callable at $60 per share and accrued dividends in whole or in part.
Dividends guaranteed by the United Drug Companu
Authorized 7. . ?. $35,000,000
To be presently issued 7500,000
Reserved for exchange for United Drug Co. 1st Pref. 15,000,000
Dividends payable quarterly Fcbruaru, May, August and November 1st
The Liggett's International Ltd., Inc., owns all the common stock of the Boot's Pure
Drug Company, Ltd., of England, which company operates some 632 drug stores in
England and which did a gross business last year of over $35,000,000. It also con
trols the Canadian and4 English business of the United Drug Company operating
through 31 of its own stores and 1828 stockholder-agents.
The United Drug Company through itself and its subsidiaries did a gross business
last year of $58,000,000 with net profits of $4,297,000. It owns and operates the
well-known Liggett Drug Stores and has about 10,000 stockholder-agents through
out the country, operating under the title "Rexall Stores."
t'
The combined net earnings of the United Drug Company and the Companies now
composing7 the Liggett's International, available -for dividends for tHe 12-month
period ending March 31, 1920, were between three and four times the dividend re
quirements under this guarantee.
Application will be made to list this stock on the New York and Boston Stock Ex
changes, and interchangeable certificates will be issued, negotiable in either city.
Price: $50.00 per share, to yield 8 ,
Detailed circular on application.
b
t'lQ
Kidder, Peabody & Co.
F. S. SVJoseley & Co.
115 Devonshire St.
Boston
18 Broad St.
New York
50 Congress St.
Boston
26 Exchange PI.
New York
Thti information antV atatittlcs contained in thlx advertisement, white not
guaranteed, have been obtained from sources which tec believe to be accurato
r J
.rj
tt! it I
l'
4111!
ilillilillilllliiiiiillillll"'MWlllliilll.!iiillii iiiiiiiliiiiiiiiiitt'iiiitiiiHiiiiijiiililiiiiiiiiililiilh
Ratio: 5 to 1
The total net assets behind the note issue described below are stated
by the Company to be over $250,000,000 including the proceeds of
the notes. This is more than live times these notes. These assets in
clude, among others, oil-producingpropcrties, pipelines, refincriesand
distributing facilities, each of which has an independent earning power.
In the opinion of the Company's management, these valuations are
conservative and the properties could not be duplicated to-day ex
cept at much higher figures.
A Complete Unit
in an
Essential Industry
Facts and figures compilfd by the
Sinclair Companu
Produces, transports, refines
nnd ninrke ts petroleum prod
ucts. About 1000 producing wells.
Approximately U800 miles
of pipe lines.
(H pumping stations.
Over 4000 tank cars.
10 Thqdern refineries with
total daily capacity of about
lJ.000 barrels.
10 casinghead gasoline
plants.
400. distributing stations m
'20 states.
About 0,000,000 barrels
crude oil in storage.
Marine fleet of 50,000 tons
in service.
1010 net earnings before
interest nnd reserves
$21, 800,808
Total similar net earnings for
last 3 years 50,060,582.
9
1 '
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HHHHHHsIHHj
aaiaaiSiiaisasaPSsaasaciaRamiaaaaamaj
W
Pennsylvania personal property tax of four mills refunded
To yield 8
Five-Year Secured
7Vz Convertible Gold Notes
of the
Sinclair Consolidated Oil
Corporation
which has furnished us with the following information:
These $50,000,000 Secured Notes are the sole
funded debt of the enterprise, excepting equipment
notes and other items aggregating about $5,275,800,
and against this the audited statement shows total
net assets, including the proceeds of this note issue,
of over five times the amount of the note issue.
The consolidated net earnings over a series of years
make a consistent and convincing record, the aiulited
statements showing an amount available for in
terest, depletion, etc., equal to 5.83 times the annual
interest on these notes for the year 1919, and
averaging over 5 times such interest for the past
three years.
The notes have the benefit of a sinking fund provi
sion at the rate of $2,000,000 every six months for tho
purchase of the notes at or below 100 and interest.
A feature is the noteholder's privilege of converting'
each $1,000 note into $1,000 par value (ten shares)
8 Cumulative Sinking Fund Preferred Stock and
2K shares Common Stock of the Company.
These secured notes may be purchased in denominations
of Si, 000, $500 and $100: Interest payable without
deduction for the Federal Income Tax up to i.
Write for illustrated booklet
We offer and recommend these notes for investment
at ya and interest, to yield 8
Blair & Do.
INCOKPblt.VrKD
1518 Walnut St.
Philadelphia
West ft Co.
1417 Chestnut Street
Philadelphia
7f oliminlBr..nl(In this advrthtmtnt. whit not sfuaranUsJ.
am obtain from sourest which w bliv to b fliabl.
Don't Neglect
To Get This
Book .Today
Call, telephone or write
at once, as the third edi
tion of this 64-page book
is nearly exhausted. It
gives simple examples of
the General Rules for
Trading, and clearly ex
plains: How to Give a Broker
Instructions.
Hrokers' Commission
Charges.
How to Indorse a Stock
Certificate.
How to Use Collateral
in Trading.
How to Grouji Invest
ments. The Deposit Require
ments for Carrying
Stocks on Account.
The Riphts of Stock and
Bond Holders, etc.
Call, phone or write at
once.
Ask for No. T. U.-913
JONES & BAKER
Sfecitnitt in Nets fork
Curb Market Securities
Widcner Bldgr., Philadelphia i
rnones Uell, Locust 4730
Keystone, Race 2290
Offices In 9 Principal Cities
Direct Private It'irtt
American Ice lnt 6s, 1012
Baldwin I.oco. Works 1st .Is, 1910
Delaware River It. It. & Bridge 4s.
193G
Lehigh Valley Cons. Wi, 1923
CHARLES FEARON & CO.
333 Chestnut Street
Lawrence E. Brown & Co,
CERTIFIED PUBLIC ACCOUNTANTS
1050 KKAT. KSTATK T1IUHT III.DO.
Inrtliute anil adjuat nurtnrrahli, and
income Tux Itfturni. .
I'ulillo Hmlf Newark Termlnnl,, Ka, It
Kmnlre. Unn fj Jhuel tu. Coll, Tr.,', Hh, U
oilliuiitriip Hiiur , viiinanir ia,,,
Hcruiuun Ulllira-jtarra Trr...:f J).. JjU
rortlimd. Kullwur C'otnnunr Hi-tt. Sa, 1M
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