s?
mBasrjfw tw. zzz?:prfwxm
fi
UH
;itJ?kfti
ft- . -'
E5XJ. ' u . w1; . j n,-s
2j
1
' Viu.r:?.iin ftiy.fca-iK. i
tvtv ;rwrvi
f 7 "
fyuW"' 'v ' i-- y,w.'iPkir.-
--""Tk " - lUr " . 1 "r?kfc.
ivkiy y H II vt v
tt&txwflffirtii'Xz? ' S Urals- JKt KsfflBJy
W '. ifl HUE' MZ&
ft a V
HE
lAT;kl
3R1
flafhoydwrflpnds
are thcSNccessihcs
fortfedvanccment
What record do you
keep of your bonds
and other securities?
Writo for our Loose
Leaf Security Rec
ord, No. PA 31 and
a copy will be sent
you without cost or
obligation.
HARNESSED ENERGY
HERETOFORE running purposeless through
the untracked places, but now set to work
by man's ingenuity, turning the great wheels
of industry or 6cnt humming over miles of
wire tp brighten the homes of thousands in
the distant city.
Bonds of Public Utilities deriving their energy in
whole or part from Hydro-Electric developments
provide exceptional security to conservative investors.
Their source of power of such, companies is economical
tnd constant; they are relatively free from the effects
of high costs and scarcity of labor and coal.
Halsey, Stuart & Co.'s recommendations of Hydro
Electric Bonds are confined to those of established
organizations with experienced management and a
proven record of earnings all such bonds having first
been found to measure up to exacting standards prior
to our own purchase of the issue. ,
Representative of this class of securities we recommend
Pacific Gas and Electric Company
7 Collateral Convertible Gold Notes, 1925
Vermont Hydro-Electric Corporation
First Mortgage 6 Bonds, 1929
A circular descriptive of these and a wide variety of other
safe bonds will be sent upon request for Pamphlet PA 30
HALSEY, STUART & CO.
Incorpdratcd Successors to N. W. Halsey & Co.,
Chicago
LAND TITLE BUILDING. PHILADELPHIA
CHICACO
ST.
LOUIS
T1J .KIMIONH
NEW YORK
MINNEAPOLIS
LOCUST 4R30
BOSTON
MILWAUKEE
DETROIT
ILK
I
IE IN
CALL LOANS AT N. Y.
AT 30 PI INTEREST
$90,000,000 Placed . at Ex
cessive Rates, Asserts
Williams
DONE IN TWO DAYS
Frlnlniipateh to 77i North American
Wfislilnftloii. Sent. 12.- Tn two dnys
two or throe Now York bunk ninde mil
lonni nKsrfRntlnc $00,000,000 nt ratrs
of intwst rnnRlnc between 20 and 30
Per cmt. nrconliriR to information on
file with John Skclton Williams, comp
troller of the currency, and made pub
lic b.t- him today.
During nbout three months these same
S?nK" call loans totaled approximately
SJ.15.000.000. and the interest rate
ramjpd between 18 and 25 per cent.
The period of these excessively high
'",,,,;,es, rates, nccordlnjr to Comptroller
n illinniH'N statement, was from Novem
ber Hi. 11)10. to February 10, 1020; but
he also asserts that as late as June of
this year these same ."two or three"
New York Dunlts were loaning millions
of dollnrs on call and demanding in
terest as high as 14 per cent per annum.
Living Up
to a Principle
Not a Dollar of Continental
Equitable Money Loaned at
Over 6 Per Cent or Loaned
Outside of Philadelphia
Our last statement shows $6,308,
308.84 on collateral loans.
Not one dollar above 6 per cent
has been charged, although we have
been offered extra inducements.
" We have loaned no money outside
of Philadelphia. We believe that
money to loan is for our clients.
The old principle of this Institution
is: "Look after clients first and
stockholders will be properly taken
care of."
We do not believe in profiteering
in finance any more than in other
things.
We declare that the principles of
this Institution are founded upon the
Logic of Long Experience.
We have been frequently asked to
CLIENTS FIRST
make loans on a
Liberty eonas
in
basis of giving
at par, and some
times half. In every instance we have
given full cash instead, believing that
if a loan is properly made and
will have no others clients
entitled to cash.
Fair dealing at all times has built
up the good will and the business of
the Continental - Equitable to its
present large proportions.
we
are-
CONTINENTAl- EQUITABLE
Title W Trust Company
Twelfth above Chestnut, Philadelphia
Capital, $1,000,000
GHANDLEIt&GOMPAHY
Surplus, $1,000,000
Deposits over $11,000,000
A Ariz' 4s
3 70H
3 7ft H
Amer Bmelt'
A It' 6k
B 7SH
3.,... 73 H
3 73 W
8 73H
S 73 H
3 73H
.Shipments From Oerrnany Steadily
Increasing,) Reports Indicate'
Washington, Sept. 14. Announce
ment has been made from time to time
that Germany was exporting to the
United Statca a quantity of potash, and
this sectns to be borne out by official
figures, made public by the Department
of Commerce.
The department shows thnt In July,
of this year, there were 3023 tons of
flrflll.lr ttnnnrt.l nt...1 - (1111(1 97(1
ns aialnst 100 ton's, valued at $33,850, i A"'c" B
the seven months ending with July also
bear evidence of additional Imports of
potash, presumably from Germany.
For tho seven months ending Juty,
1020, there were 100,300 tons of potash
Imported, valued nt $10,807,220, as
against 1880 tons, valued at $222,820,
for the seven months ending with July
of last year. 'Up to the time of tho
world war the majority of the potash
imported from tho United States carao
from the great German mines.
LESSC0TT0N CONSUMED
New York Bonds
t BALES IN tlOOOl "
From Optnlnc Until 3:00 i. m. iti. T. Tlrart
Total for August Was 483,103
Bales Imports Increase
Wathlntton, Sept. 14. Cotton con
mimed during August amounted to 483,
193 running bales of lint nnd 36,800
bales of llntera, tho Census Bureau an
nounced today. Last year, consumption
In August was 407,319 bales of lint and
21,718 of llntera.
Cotton on hand August 31 In consum
ing establishments amounted to 1,130,
694 bales of lint nnd 207,700 of llntera.
compared with 1,133,366 of lint and
262,464 of llntera on August 31 last
year; In public storage and at com
presses 1,068,218 bales of lint nnd 368.
649 of llntera. compnrcd with 1,816,696
of lint and 224,141 of llntera.
Imports during August wero 23,106
baits, compared with 14,070 a year ago.
Exports were 146,668 bales, including
ipSS i bales of llntera, compared with
479.0B8 bales.
Cotton spindles active during August
SUmtero'' 34,471,616, compared with
34.206.180 In August a year ago.
s
The Investor!
and Traders
Guide Book
A handsome, clearly
written, board-bound book
of 64 pages, for the market
trader. It explains:
Tho General Rules of
Trading.
now to Give a Broker
Instructions.
Brokers' Commission
Charges.
How to Indorse a Stock
Certificate.
IIow to Use Collateral
in Trading.
How to Group Investments.
The Deposit Requirements
for Carrying Stocks on
Account.
The Rights of Stock and
Bond Holders, etc '
Actual stocks are used in
the explanatory examples.
Call, 'phone or write at
once.
t
Ask for No. T.U.-958
JONES & BAKER,
Spiciaiists m Niui Ytrk
Curt Market Securities
Widener Bid?., Philadelphia
Phones Bell, Locust 4730
Keystone, Race 2290
Offices in 9 Principal Cities
Direct. Private Wire
3
FINANCIAL
To the Holders of
Empire Gas and Fuel Company
rillST MORTOAOIS AND COM.ATKIIAI,
TKUST BINKINO FUND 0 PICK CKNT
GOLD BONDS. DATI5D MAY 1. 1910.
Proposala aro Invited to hi mada to ilink
or Trust Company. 10 Wall street. New
York Cltv. H8 'litutec unit, r t)i indiMiture
between Empire Qii and Kuel Company and
said Trustee, securing the above bonds, for
the sale to the Trustee, for account of tho
ainklni t-und provided for In said Indenture,
of bonds of said Issue at prlcen not lo exceed
103 of thn prlnc'ral of such bonds, plu. nc.
crued Interest thereon to November 1. 1020.
On or beforo November 1. 11)0. this cnmmnv
will deposit with the Trustee sufficient funds
to retlin on that date, at u piemlun of 3
of the principal thereof . th aicruH lntere.it
to said date, bonds equW In aggregate face
value to S7.10.000, and It Is the Intention of
said Trustee, pursuant to the provisions' of
such indenture, to npply tho fund sn to b
received to, the purchase or redemption of
bonds of said Issue, at not to exceed the prlco
above mentioned. All proposals should be se
curely sealed and marked "Proposals for sale
of llonds to milking Fund, under inJenturo
of Umpire Oas and Fuel Company, dated
Mny 1. 1010 " must be for all or nny part of
the bonds ottered, and must he received by
said Trustee at Its C("-porato Trust rvpart
ment at or prior to 8:00 p. m on September
Sltli 1DU.
Advices as to bonds accepted will bo
mailed on or before September 2Rth, 102u.
by Ilankers Trust Company. Trustee.
Federal Incomo Tax ownership certificates
coverlnir nccrued Interest should accompany
all accepted bonds.
Dated September 7th. 1(120. (
Empire G'ai and Fuel Company
By 1KANK , riWHAlTIT,
rrcsiuent,
TO TI1K Illtl.DFItH OK T1IK HUNTINGDON
ltROAI) TOP MOUNTAIN Il!!.lt( All
COAT. COMPANY FIIIST MIlilTOAUK
KXTBNDICn 47c COUPON BONDS
..Notice Is hereby Riven that the abovo 'issue
of bonds will, on October 1st. 11)20. be er
tended for four and onehatf years or until
April 1. 10211. The principal of these bonds,
amounting to Hlfl.OOn.On will be paid to
the present holders on September 30. 1021),
on presentation of the en mo to the Pennsyl
vania Company for Insurances nn T.lv .
IVi.ronuns: Annuities, on mrstmit Mt.
riimiii,
80 80U
Amer'n Tol
Tel 88
3 70
1 ?9!i
1 73U
1 73U
8 70K
1 78H
Amer'n Tel
Tel 6s
1 ps
7 OS
SS OS
AncFresch 6s
1 09
8.... 100
33.... CD 13
1 09
i.... oo in
Argentine He
publlo Bt
1 09
Armour & Co
n Est 4 Us
8 70H
1 70
Alch Topeka
S Fa -4s
8 75W
0 70U
0 78
1 76
11 75"
14 7B
3 75
1 75
Atch Topeka &
a Fe cv 4s
8 05
4 05
Atch T t B t'l
CV 4s '00
10 83
1 82
1 82
Atl U Lino clt
3 08
Atl C Lino 4s
1 75
Atl Coast L'e
rets 78
8 00
3 00
1 00
Halt Jnlo cv
1 07
2 07
10 07
1 07
Halt a Ohio it
1 08
Dalt A Ohio is
1 08
1 07
8 07
liait a Ohio dt
1 88
d & o v ii a
& W Va 4s
3 02
B & O 3 IV'n
nir 3s
1 74
1 74
U 4 O Tol 4s
3 52
1 52
Deth B 5s 'StOi
3 80
1 Brk Union U'd
1st 8U
& 57
Bush Bide Bs
I 1 00
Carlo Cltnclitd
1 & Ohio 5s
1 73it
Cen'l of Oa Ca
I 4 87
Ctl Loather 1
1 00
1 00
Cent'l l'ao ist
1 78
1 72N
1 72
3 72
4 72
Ctl Pacific 3
1 70
1 70
Ctl Pac al 4s
1 00
O ft Ohio 4s
1 74V
C ft O cv 4 Vis
1 74
3 73
C'k & Ohio 5s
2 80
C'k & O cv is
2 80
2 80
5 bOMi
0... . 80
Chi & Alton 3s
5 44
C ft Alton 8
3 88
Chlcaco ft Al
ton char 0s
2 8f
C 11' n ft
28
8
17
1
1
B
Chlcaco
Ills ct 4s
1 80
C ft B 111
1 73
Chi ft Own 4a
1 54
1 51
1 51
Chicago Mil &
Ut P 4s
2 00
Chicago Mil J
St P d 4s
2 03
Clilcagu Mil a
BtP ov 4s
5...... 70
5 70
3 70
2 71
1 70
Chicago Mil t
HtP fd 4a
5 03
2 03
S 03
C ft Nw'n Kin
1 75
Chlcaco It I'd
ft Pao fd
0 07
8 07.
1 07
U 07
1 07
Clucnzo It I'd
ft Pac 4 s
2 71
1 71
1 71
Chi ft W I "
1 00
Chilo Cop'r Hi
0 73
1 73
10 73
CilnesB Clove' t
H-K ltya 5a
5. ... 43
5 42
Cily Hord x Us
1 83 T.
Llrle II n cv A
1 42
1 42
lirlo n It cv It
5 03
Krie h It cv V
2 4
IB 47
8 46
3 40
Urle ny Co
7 55
Oovo't Frenoh
Hep 8s vrl
Den tltOli
4 73
Dei Molna &
Ft D 4s
8 40
I) Canada '28
3 88
U Canada '81
4 88
1 68
D Canada .
1 00
Dominion, lie
publlo. Bs
IB 83
10 83
Kris Genl Men
7 45
0 45
3 40
1 40
10 40
7 43
10 45
5.
30....
0....
IB....
0....
1....
5....
5....
1....
0....
1....
3....
3....
B....
8....
40. ! '. '.
10....
3...,
1....
3....
1....
1....
0....
10....
2....
6....
5..
0..
1..
1..
5..
HTOaltn
1 00
N T o ft it n
n n 4s
3 75
1 73
1. , . . . 73
s c ft ii n
It It en '4s
1 09
N V O ft 11 rt
n n os
1 91
8 01
1 01
10 01
N t Light II
ft Power 4S
3..... 01
N T Light II
ft Pow Bs
1 75
NW Y N II ft
lisn o os
1 B5
1 55
N T Tela 4s
3 7.1
1 78
N Y Tele's 0s
3 88
5 68
Norf'k S'n Bs
4 0B
4 BB
N'k ft W'n 4s
3 74
N'k ft W a 4s
1 71
101 N'k ft W ov 0s
101 3.... 101
101U B...-. 101
101 Ohio Fuel Hup-
101
101
101
101
101
101
101
101
102
101
101
101
101
101
101
101
101
101
101
101
101
101
101
ply Co '21
11 01
Oregon B L 4s
3 70
Org-Wash' n II
Co Nav co is
1 70
N'n Paclfla 8s
3 04
3 B4
20 B4
N n Pacific 4 s
5 75
0 75
po a ft n 5s
1 74
4 74
Pac R of M.4a
.1 73
Pao T ft T 8s
1 81
101lPa It It 4s '00
101
101
101
101
101
101
101
101
101
101
101
101
101
101
101
101
101
101
g n
. 05
. 05
. 00
. 00
. 1)0
. 05
ft f. II
5...
15...
25...
11...
o
10! '. .'
i.k.
3...
5...
B...
5...
20...
15...
Gene' I Kli-c lis
3 00
5 08
5 03
3 00
3 01) U
u swtz'd rets
1.... 102
2.... 102
1.... 102
4.... 102
2.... 102
1.... 102K
Hav'a nice Ss
4 70
Houston ft T
Cent'l 1st
1 64
Hud ft Man fd
1 58
1 58
4 6H14
Hud ft Man ii
1 23
2 2.1
10 23
3 23
5 23
8 23
6 23
Ills Central id
75
T.I Cen'l 4s '5
2 70
111 Cen 4a '63
1..1.. 08
3.,... 0811
i caw
in cent'l ;
3 80
6 80
1 SI)'.
Intboro M 4
H 14
B 14
1 14
17 1414
Intboro 11 f id
2 47
2 47
1 40
3 40
7 40
1 40
4 40
B 4(1)1
I M Marine u.
3 81
10 81
B 81
I.e... 81
1 81
Iowa Cent'l 4
41
Jnp Oovo't 1st
10 73
.' 73 .
Jap Uove't 2d
2 73
2 73
10 73V1
Jap Ciovc't Is
1 68
3 57
21 57
17 .... 67
Kun C Tt S i.
M II II 4s
2 07
Kan ortS
ai n n os
3 I'l
U 04
Kan C 4 a 3.i
io r.i
1 6 1
3 31
Kiin C & S 5b
1 0SU
Keokuk ft Dua
Moines 1st
1 70
K Hels-'m 7s
3..
3.
4..
5..
1..
after
as at
wnicn date Interest on
present extended will
..
NtwTork
Franklin Bank BIdg.
rniiaaolpbla
Boston
Hecker & Co.
Bankers and Brokers
"embers of Philadelphia and Now York
mucu uxenanges
COB. OTH AND CHKHTNUT HTS.
N. R.
StocKweU, Alison & Linvill
UrtHied Public Accountants
d Title BIdg., PhiUdelphi
Philadelphia's Part in
Developing the Country
The recent census shows that the population of the country
is now about three and a half times what it was in 1860.
During that period tho nation's wealth has increased from
$16,000,000,000 to about $300,000,000,000. This tremen
dously increased wealth was made possible by the
development of the railroads. As locomotive builderswe
are naturally proud of the part we have played in aiding
this wonderful growth.
THE BALDWIN LOCOMOTIVE WORKS
PHILADELPHIA
I'lillad
said bonds
cease.
Interest coupons should bfl detached and
presented for pavment on SeDtrmber 3th,
1"2n. st the office Of this Pninn.nv 14n4
North Am.eHcan nnlMlntr. Phllsrt.lpMn.
I Tin1! HUNTiNnnnN nttoAn top
MOUNTAIN H.UMlOAtl CnI. COMPANY
A J RAm.KY. Treasurer.
TAKK NOTICK THAT THE TKANSFKIC
books of The Lake Superior Corporation
will be closed from three o'clock In tl-e af-
'ternoon of September 16th. 1020. to ten
o'clock In the forenoon of October 7th, 1020
for the purpose of holding the Annual
,nAitnf of the Corporstlnn ..
At,EX TAYtOn.
flecretnrv.
07
07',
07
07
07',
07
1)7
3 07
10 07
Kings County
U L. ft P 5s
2 SU.
Lack atctl "jh
no
Lake Shore M
S'n 4s '28
1 bl
Lake Shorn M
S'n 4s '31
1... . 81
8 70
Pa II gm 4s
2 77
5 77
2 77
ra II 4s '21
1 07
Pcnna K 11 5s
1 85
Pcnna It II
1
0...
4...
1...
1...
1...
reorla
3
102
, 103
, 103
, 103
, 102
, 103
all In
81
Pere Marqt 8s
8 81
Phil County cv
3 80
1 80
Heading Ilv H
5 80
Reading Co J
Ctl Col 4 s
2 ' 80
8 80
Republic Cuba
Bs of '04
4 83
Republic Iron
ft Steel Bs
B 80
Rio Grand ft
W'n clt 4s
1 54
3 64
3 54
Rock Isln'd A
ft h 4s
3 07
1 07
St L Pn Ml ft
B'n nv 4s
3 70
St I. I'n Mt ft
S'n Illy 6s
'"'NEW Vork rWlRM'VfiiTritlri'iiiott Uwry. from now W'atil the lecorid .the Wst"aa la faarWdaWvf mmHtHtf
NEW YORK CURB (Continued)
TJM 3ti tr4.Vltglnla 0s B
V K of Q Drlt
ft I'd 1879
11 8B
10 85
23 85
3 85
3 hJ',1
VKolO Drlt
A I'd 1037
1 82
1 82
1 82
3 82
B 82
1 62
1 82
L H Mexlcn 4
3 84
tl S Mez 4s
15 23
Co B(
B 00
Ut'd ll'ds San
F utl bt 4
4..;.. 23
U S Realty ft
Imp't 6s
1 79
V B nubb'r Bs
1 70
3 70
V B Hub .
1 97
1 07
1 97
5 97
U'd 8 Steel Bs
0 01
3 01
3 01
Droi Ctfs
a os
Wes'n Elec Bs
1..... 93
West'n Md 4s
1 B4H
10 54
Wes'n TaO 1st
1 81
West Shore 4s
8 78
West B 4s teg
1..... 09
Wheeling ft L,
Krlo 4a .
3 65
i ' son Co Ist
2 80
Wilson Co cv
3 83
(N.
Jmvt
00.00
84.02
85.00
84.70
88.04
T. tlmo)
HUB
n. m.
D0.01!
8-1.02
85.00
84.70
88.01
High
Lib Bond 88... 00.02
Mb. Bond 2 It.. 81.70
Lib Bond 1st 4 85.72
Lib Bond 2d 4Vis 84.84
T.lli Ilntnl .11 4V.qRS.14
Lib Bond 4th 4y,f 85.14 84.08 81.08
t.i- . 01 ' n-! r.n n-. .1.1 OK Ad
Vic Notca 4 8. . . . OS-00 05.42 05.42
DIVIDENDS DECLARED
United Fruit Co., quarterly of 18. paya
ble October IB to stocu of record September
dreat Northern Railway Co.. truarterly
' 1 pt cent, payable Noviii.ber I t
slock of record September 34.
Uhlgh Valley Coal Sales Co., quarter
of 12, payable October 1 to stock of record
Srptimber 20. .
Penn Central Llkht and Povrer Co., guar
terly of 80 cents on preferred, payable Octo
ber 1 as registered September 20.
Duauesne Light Co.. uuarterly of 1 per
cent on preferred, payable November 1 to
slock of record October 1. ...
Philadelphia Co.. quarterly of 75 cents
on common, payable October 30 to stock of
record October 1. and semiannual of 11.60
on preferred, payablo November 1 to stock of
record October 1.
No Change In Raw 8ugara
New York, Sept 14. Tho raw Busrar
market remains quiet and about un
changed. Tho only sate reported on
Monday was a lot of 4000 bagj of Cuban
In port, at 9c, cost and froleht, to a
local refiner. The local refined market
Is unchanged. Tho American nnd the
Warner companies aro still withdrawn.
Importations of raws on Monday In
cluded C0.8CC mats Philippines to tho
American Sugar Refining Co. ; 14,850
hags Argentines and 3000 bags Pcrus to
the National Sugar Refining Co.; 4000
bags Cubaa to tho Federal Sugar Re
fining Co. : 14,600 bags Argentines to
tho National Sugar Refining Co., and
12,000 bags Javas consigned to tho trade.
BAR SILVER
Bar sliver was d higher In London
today at 60 Kd.
GOSSIP OF
THE STREET
1.
1.
1
Bt Louis
Fran aj
6
85
85
b5
ft S
05
0.1
05
05
05
03
03
05
05
Bt I. ft a K fd
5 74
St I.oula ft w
Fran In
2 60
80
50
50
60
50
60
5U
60
57
57
50
60 ',
60
The mnrfcet world hod Its first tnstc
of politics yesterday since tho presiden
tial campaign loomed upon the horizon.
One of tho more potent restricting in
fluences encountered during the day's
operations was tho certain degree of
uncertainty as to the result of the
Maine election. The result in that
state in presidential years has come to
be regarded as a sort of Indicator of
the bis national event.
As Maine goes, so goes the Union
wns formerly the cry, and judging from
tho hesitancy manifested in all quar
ters of the market community yesterday
it would seem ns though the old loon
wns still fresh In the mind of Wall
street. Should the Republican party
icore a sweeping victory there is every
likelihood of there bring a spirited re
covery, as the market shows all the
falmllar earmarks of being groomed for
Mich a bullish demonstration. Should
the election be' of on opposite retcult,
there is a possibility of a moderate
shakedown ; but the market, iu the
opinion of most observers, Is practi
cally shockproof, which would seem
reasonable in view of the prolonged de
scent in mnrket values.
This much, however, is certain, not
withstanding nil arguments to the eon-
waijr. irVKl HOW .OB'Snill we nvunu
Tuesday In November politics is quite
certain to become an acme xacior in
shaping tho market trend.
Wei faro of Dank Employes
, Earnest efforts havo been made in
tho last flvo years on the part of offi
cials of all the larger banking institu
tions to promote the welfaro of their
employes. Associations havo been
formed to bring a closer relationship
nnd widen Interest in the affairs of the
companies. Liberal bonuses have been
given, In order to help the army of
clerks to meet tho ever-mounting high
cost of 'ivlng. Some of tho larger Insti
tutions in New York have formrd clubs
nnd other associations of a scinisoclul
character to help to lessen the hum
drum monotony of bank clerk's career.
In this city, Effingham B, Morris,
president of tho Girnrd Trust Co.,
lias, for scvcrnl' years past, given a
personal study of this question. Next
Saturday, for tho first time in the
history of that Institution, the employes
will havo their picnic In the country.
This get-to-gether scheme has been
found very successful In ironing out
many little wrinkles which, hcrctoforo,
have given considerable nnnoynnoo to
the officers of the fiunncial Institutions.
While It would seem to be out of
alignment with tho o'd, set style of
conservative banking, yet the times have
changed, and things are done differ
ently, nnd thought out differently from
what they used to be. Getting the
employe really Interested in his work,
is one-half of a big job done.
Mexican Outlook .Much Impra.fd
A well-known local banking Interest,
who has Just returned from an extended
trip through Mexico, states that the
outlook in so far ns it concerns Arr?"r
lean enterprises is much improvcil. The
election of Gener"! Obrcgon ns presi
dent, ho stated, was one of the biggest
constructive developments In that coun
try for many years.
Those who made a careful study of
the Mexican situation, he remarked,
generally believe that his administra
tion will be regarded with favor by this
nation nnd the relations between the
two countries will be more friendly than
they have been for more than nine
years.
The revolution-.against Diaz, ho con
tinued, started In 1011, and things have
been in a topsy-turvy state ever stnee.
Tho changed situation within ttio near
future can be confidently counted upon
being reflected In an appreciation in
the value jf all the securities of those
American corporations hnving property
interests within the republic. Possibly,
he said, more noticeable in the larger
ones, Mich ns American Smelting,
Southern Pacific Railroad. Mexican Pe
troleum, Pan-Amcricnn Petroleum, as
well as some of the lower-priced oil
stocks and many of the silver shares.
Western Money Conditions
As the time approaches for the crop
movement all eye? aro turned toward
feet conditions. WhTle'tfW.'n
Iter, nf the West ithrtwa 'rd it
change, there are evidences ot thl
atlon undcritoine a clearing iM
whereby the demand for funds h,'
somewhat checked, nnd forces "
work which are ex nee ted to brlnrf
more normal condition wiiu
next four to six months. 'The
nn n whole shows a sllshtlr bet!
flertnnn. nlHinneh there are no in
tlans nf nnv nronounced casing of :
for some time in the future. Iteqd
. 1.. - ...M.Mai.lHii ninxtisss
llcved to bo in sufficient supply , rtYK'
though nt the tlmo comparatively llMr TJ
eTO
though nt the tlmo comparatively ,
grain is ucing lurwuiuvu. uuj ritaes rvji ,
to Inadequate transportation faeilltlMj'l .;
on the part of the railroads of .tkntrfe 1
forming communities are holding ottMruy ' 1
lllftlll. 1F......O. .. t.v.MU w- -Y-W' ,Sj.i('
IK M ; "
..nllniiAd nn ntintlf till. B.mH lift ftljf 'atl 'J"i
during the last week, with iateffwHl'
.ntna A f 7 t!A1 PAttf flMf till mitntW dmA&f'fy
ner cent on commercial naher. IMHnw
mnlntnln the same conservative attl
.v.
m
f ..-.. . .A iHHiil.l.ri .... AAAn.H.MM'J' .1, -i
in respect iu luijuuicn m n.uu.i..r...
tlons, nnd tho calling of loans HiWV?
sorted to wherein it Is deemed expwneM,'- n.s
that payments should bo rortncomiBf. t (;
Selllnr American Army Stocks . ." ' ''
The French ministry of finnbee','. k, l''A
Is learned, will pay a part of the ZWt
000,000 due In October from Franco o&
the Anglo-French loan from the pro,-;'
cceds of a resole of the American army
stocks which it purchased, nnd upo'
which New York bankers will advnnct
sums reported to amount to $25,000, -:
000.
The stocks Include an Immense varl-;
xiic niuunn muuui; u """i"o ... ,2
cty of articles, Including woolen go0d' S
harness, wagon wheels, hardware -m
canned foods nnd tools, a considerable' ( fi
" t
nnnrtlfv nf which nrobablv will be- tt't
sold in the United States, somo in South f -d
America and tho remainder In Europ.
The French government iook over ail" i
tho American army supplies left
Franco for the sum of .$100,000,000 j
Tho American agents havo agreed t &
dispose of the stocks upon graduated
sale of hcrccntace. this produce bavin' -
been recommended to the French for- k
ernment by the New York bankers, a
...1 h .4hIh. -,-nu .nniiAfltftil t m 1M' 1
V.I1UOU nutlLU wa H.4UMWU1 .n uw
ilerstooti that the Interest rate on th'
S25 000,000 to bo advanced to Franc AW
by New York bankers will be 8 pt;'
cent. . Sl
TIIB TRADER. ' ,
pprREMIRS
Valve seats planed Sn position
nnd new valves furnished. All
kinds of engine repairs.
riion WV1. 1R14 nnil Mi'n 3444
njPlWlnMMlnlil-alI' ,
P- ZI3E-222S.t3ARIENST.
1..
1..
5..
15..
0..
5..
5..
10..
6..
S3..
10..
10..
0..
BlLsS 1'ran
Merles A
1 50
1 50
8 60
1 50
s an',;
60
60
59
60
80
1'ian
1...,
4....
11....
3...,
Si 1. &
Hcrles 1)
5
10
1
0.
70
7n
70
70
City Mars'H 0s lib'I Mwurs
4 82
Cty Ni'W urK
44s '03
0 no
1 00
a oo
City TarU Us
3 03
1 113
niviiWds
5i Vn h.".i7"I
the preferred "n"
1..
3..
3..
4..
7..
13..
1..
03
03
53
01
03
113
Cl'ii ln C'.il t,
St I. sm 4s
1 07
Comu'V fao A
lUcord's lis
2 80
Corn Products
II Co 5s '34
80
i
in common sjneK, all illvlJendj Dav.h 2 b
tlrtobrr 1st, 1020. to stockhofdera of record Del & HuJ 4'5
Sapifmlier 23rd. 1020 record .,,
f'nnriiipa nun rfrr lnrniai 'rnsn at .. . . -
1-1UI.AWI Plllil''IN.4NrR CO."
UllUKTY nVlLDlNH
The uireciors nave tuoia-eil a
Quarterly ivirii o -vc on me
"A" stoclt, 1 on the nrefe
. atu mill il'u ucr iD.rfl nn in nnH..
stoefc. ljyablo In cash, and an extra dividend " Slit
of 7 1-7 on the common , Mode, payabla I 2 ikL
C'hequrs and ccrtlljfates -representing s
dividend will l)a mailed
t'ltAltl.r.A A. BfllWWNK. Treasure
lock
rer.
JrOHHBlS
1'KOl'OSAI.S It) It HATS Office 0f theDe.
pot Qmrtermnster. U, H A Phliadiu
rvh, Pa. S.nlert t-oposils win'te received
here until 1:30 P. M.. September 20 ino
for.furnlshln 118.000 rvlc bits. ' inflri I
Itnatlon on request.
Del U Hud 7s
1.... 101
D.n 4 n il id
80 63
Den & 11 (I 4s
10 05
2 05
D & 11 Q l'.'i
a..... M
T Co
1 81
I. & N rctn 7
4.... 102
0.... 102
Mldv'o Stvel &
Oidln 5s
1 77
M.-i & rit 1. it
4 44
5 4iU
03 J! 4 Stl.cn Sh
1)3 4 07
V.l .IO lv & T
11 .... 42
M lUI'.i!
10 85
3 .... 35
20 .... 35
Mi K 4. 'I )..
1 571!
15 57
0 57.
M . Pac irm 4s
1 50
1 55
22 56
Mj Pao 5s '05
1 78
M i O Ht L 4
Carlo 4s
1 72
M in Pow'r 5j
1 80
2 t0
Nuvv ii Tex A
Mexico 6a
S 67
St L, A H Finn
Hcrlrs C
2 80
M I. St Swn cu
1 I'.'J
2 oa
7 oa
BlL. & awn 1st
1 04
1 05
2 05
II i. a Kmi 5
1 01
St P'i Minn &
Manlt'a cv 0s
1 09
Scau'd A 1. fd
3 12
So'n Doll T 5s
1 81
2 b0
S'n Pacific fd
1 740,
6 74
S'n Pacific 4a
1 07
1 07
2 07.
6 n 1'jc cv 14
1 70
2 70
S'n Pac cv Sh
5 08
1 08
1 ns
0 08
S'n ItallWH 4s
2 00
2 59
2 59
1 59
1 00
1 00
S'n Ilallwa 5s
1 83
1 83
.... .
4....
1...
I II Kill
1...
1...
I I I II
. K3
. 83
I'a
. 81
. 8U
I'm
2... . 80
Union l'ac (Is
2 08
U IC of Q llrlt
& I'd 1021
1....1 07
3 07
5 07
13 07
5 07
7 07
U IC ot O llrlt
& I'd 1022
10.
10
10.. ..
13
23
5....,
02
02
U.I
03
03
03
88
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ousjv
What the
Architect.
Knows
ELI Jones concluded to
build a house. He and
his wife decided on the
general style and ma
terials or thought they
had and made a rough
plan; but they wisely
called in an architect just
to put their ideas into
proper shape.
The result of calling in
the architect was that by
using common brick with
face-brick trimmings, in
stead of face-brick and
cement, Mr. fnd Mrs. Jones
got a beautiful house with
two rooms and a sleeping
porch more than they had
plnnncd; they got also n base
ment Rarage, saving the entire
cost of a scpnvato building;
nnd they got the whole for a
littic lesn than the total cost
they had figured on.
Why? Because their ar
chitect knew the possibilities
of common brick, which they
didn't; nnd he knew how to
handle tho materials so as to
get effects of which they had"
never dreamed.
A good nichitect knowrf whn
can be done wi.h common
brick, and how to linndle it.
Yoti don't. Be wise before you
begin, not when you are
through get an architect at
tho start.
it. m. ft c. n. siNnn
w Church and T.icony
0 jos. t. nynNE k.st.
1 2fiih and Clearfield
JOHN II. EAUI.EY
Nlcetown Lano and 11 St.
FUANKFOUD DRICK WORKS
Torresdale Avonuo
KEYSTONE DniCK CO.
Godfrey near Second Ht l'ike
NonTii PHH.A. nnicic wonics
Itlelnt Sun and I.uzarne
V. SKITTEll S SNS
Nlcetown I.ana and U St. '
oo Save $12.SO
on this Eclipse Junior Cabinet Gas Range '
Four top burners and sim
mcrer. Standard size ovens.
Pans, panels, splash back and
oven dishes are of guaranteed
h'gh quality, white enamel
finish. All outside black
raits havo baked auto finish.
Right or left hand ovens.
Every range guaranteed to
give absolute satisfaction.
Full line of
RADIANT FIRE AND
REZNOR GAS HEATERS
ft $5850
1 J Reduced 4t'71 IV V
..
C. H. McMurtrie Co.
-1319 Arch Street
nuii.n with uric:. it lasts
Ms Black Smoke
mum
n$y
iaa
is the signpost of the wasteful Power Plant,
It says, "Poor Combustion."
Is your Power Plant efficient?
We can make it so
JULIAN S. SIMSOHN
An Organization of CHEMICAL ENGINEERS for the
Technical Operation of the Power Plant
Broad and Girard Ave., Philadelphia
Combustion Water Purification Coal Analysis
m
"smijmtn,HuunaBBBaui!irJiux:jT.K,;irLvaiHS2im.,UjaiBiimxni'!''t -wie- mv
. - ."Tr33rTirnntTsMB
1 HllilSBF'' SPIfP'
US Wall hoarbT)
Being a uniform sheet of pure gypsum
rock, Sheelrock takes -any decorative
treatment. It can be papered, painted or
paneled.
Here, indeed, is what you, as a home
owner, have always wanted walls and
ceilings that stay put, year after year,
regardless of climatic conditions.
Sheetroclc is fireproof; it protects the
building. An insulator of heat, Sheetroclc
makes the building cool in summer,
warm in winter, and cuts fuel bills.
Sheetroclc for new construction, altera
tions and repairs is actually less than
that of frail, unsatisfactory wall boards.
We suggest that you call on us today
and see for yourself what a wonderful
material this standard wall and ceiling
unit really is.
SHEETROCK
Over Y4 million ft. in stock and in trnni.it
PEARCE FIREPRnnP rn N-E- c- Arch s.
M
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Vt
Mt.
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