Evening public ledger. (Philadelphia [Pa.]) 1914-1942, September 28, 1920, NIGHT EXTRA, Page 17, Image 17
mmxk PUBLIC (LEIXEB-PHIIAI)S)LPHIA,, TUESDAY,' SEPTEMBER & (1920 vr i - .- A Complete VWESTMENT SERVICE Specialists in OHIO MOTOR AWp RUDDER ST.OCKS ACCEPTANCES BONDS STOCKS CORPORATION FINANCING Members of Now York Stock Exchange OTIS & CO. Investment Bankers CLEVELAND Boston Detroit Cincinnati Columbus Akron Youngstown Denver Colorado Springs Toledo PENNA. TAX FREE SECURITIES PAUL & CO. Members I'itln. Stock Ktchantn 1421 CHESTNUT STREET Stockwell, Wilson & Linvill Certified Public Accountants Land Title Bldg., Philadelphia FINANCIAL Todd Shipyards Corporation Notieovof Adjourned Special Meeting f Stockholders to Authorize an Increaie in tho Number of Sharoi and Amount of Stated Capital to thi: HTnrKiinr.iiEni ok todd 10 MiirvAnns corporation " Plow take ,nn,.lc? ,hBJ .?ur"Jant to an iljoumment duly taken at the special meet inr of the stockholders of this company. IM at the office of the company. Jn the 18th day ot Bepfembeir. 1920. such mc'sl meetlnijwa" adjourned to and will y?tA upon the 2d day of October. 1B20. J! 13 o'clock noon, at the office of the Jnmiiny. No. 15 Whitehall at.. borouRh tt ftnhaltan. city of New York, the bb t of such meeting belnz to vote upon nl authorlie an Increase in the number !f ihares which thla company may l,u. trnm one hundred and sixteen thousand I1180OO) to two hundred and thlttfy-two inouitnd (232,000) ahares. and also an In Jkim In the stated capital of thla company from Ave hundred and elahty thousand dol lirt (ISO.onO) to one million one hundred "nil sixty thousand dollars ($1, 100.000). nl.o M.i. inntmt-a to he effected by amnlfrij tm certificate of Incorporation of thla com- tint In the manner provided. by aectlom twtntr-two and sixty-three of the stock corporation law "' th state of New YorW Dat'd N'w York. September IB. ll:o. Wll.UAM U. TOrD. President CART. It TtlFIDFr o.rn-T 10 IHB HOLDlIKS OF THE HUNTINUINJN I K0Ilini; MOUNTAIN RAILROAD A COAL. COMPANY FIRST MOKTUAGK fATKNUMI -t'e COL PON IIONDH i Notice Is hereby tttven that the above Issue ef bond will. " October 1st. 1020. be er-. ttntti for four and one-half yeara or until ' AMI 1. ll25. The principal of these bonds. , e-iLv......... . tiinonnnn win k. . .i I the prent holders on September 3n. 1020. tn erefpntallon of thy same to the Penneyl nn!i Company for Insurances on Llvea flrinllni. Annuities. B17 Chestnut St.. HTlsdclphl.t, after which date Interest on aid bwdi aa at' preaent '(tended will Interest eour'ns should be detached anj Srnted for payment on September 80th. 'JO, st the on e of this Company, 1S03 lortn Amu lean H llldlnir. Philadelphia. THE HUNTINGDON ft nHOAD TOP lini stain KAii.pnAn rn, company r SflT.r.Y T-rfi.iire,. Special Xntlfra Philadelphia. Pa.. Sept. 27th. 1020. At a Stated Meeting- of the Board of P't'Ctors of the lTnildent Life nml Trust Companv of PhllHilrlpiita, h-Td todav. WAI.T.ACB S. XIAHTINDALK ts dulv appointed Manager of the Ileal Eilile Pepnrtment of the Company, to suo ed the lute narl M. Connerfleld. I.nONATtn C. ASHTON Secretary. Annual .Meetings ornrn of hie mutual asni'iianck COMPANY FHK INHUUINH IIOL'HE-S FllOM I.OIS II Y FIRK. 340 S. Fourth St.. Ph atlrlnlilu. Pi. A MKKTINti OF TIIK .MKMIIKK.S OF TIIK ..Mutual Assurance Company for Insuring Bouim from Loss hy Fire will be held at tho eOoo. No 210 8. Fourth street, on Monday. October 4tli. 1020. at 12 o'clock M., when n.t annual election will take place aaree ably to th. De-d of Settlement. Sept. 27th. 1020. DAVID TiTSWIS. Treasurer. Propoanla DEPARTMENT OF PUHLIC HEAXTH. Dlrtctor a Offlce. lloom C81. City Hall. Philadelphia. Sept. 22, 1820. titlfd proposals will be received at thla eflco unill ttetlnesdiiy, October 0, 1020. 1 s clock, noon, when bids will bo opened and Ktacdultd as follows: I1CKGAU OF HEALTH) For one Kord Trurk. 1IURF.AU OF IIOSPITAI.8t lISFi ,.lle construction, erection, eautpment. nitallatlon, additions. Improvements or alterations to the followln: At tlth and Pine Btreeta; Siding. Laboratories. Rlevatora. .. . Jlrenroof stairways. At Cltr Farms. IlyberTy: Wlndow-ruardsi solid partitions. Chanirta tn Anrtrm. .tr .. . Pipe Line. At Id and Luierna Stfeeta: ntarransrement of amatlpox. Hospital cottaces. ptelficatlons. blueprints, forma of pro joial and all Information relative to the .."y' ollrt. Partitions, omnirea ' ' ?,0.or. etc. and siding, may be had upon K..c.V'iP .2. 1'hlllnH. Johnson. Architect. :.rH'-'" nuidlng. Philadelphia: and speclfl ciuon;. blueprints, forms of proposal and liL, . m,"ori relative to the automobile. it"'., " nevmora, nreprooi einirways. flwi'j9 an1 mallpox hospital cottnaes may l nSQ UOOn nnrtllntlnn tn th ni.utA. Oflce n0om r.R4 City Hall. ..i.ki! Jrn"1 others than those encaged or "'ibllaned In, business for which proposals iiA. I"1 Jwl" not be entertained or con i.:!rt? ini no b'd will he entertained un wr th" i 0n prl,lte'1 blanl' forma supplied i.Ai! mu.'t h" accompanied by n certl it. k. T. ,h city Bollcltor that security tnfvi.f,? 'rnlhed In accordance with tho 5KHJ ofJhe ordinance of Councils ap. .d Mav 2,1. lRfto. anv n.PJl"c,. reserves the right to aci-ept iu iSIr?3al in whole or In part or reject lntJ..8.. . V "" mfty A"n best for the wni'V' ' bl, exceed tho sum of $100 It t.Vi 7.,h'eessirv for a contract to be en hitin'ii0, an'' ,n' coat ot ,h, gm my ,je city soli It"""1 lniu'r5r at 'no 0fflc8 ot ,h0 f i.iNror.N nmnusir, r d.. Plrertnr of the Department Dividend T"K rm.1."?KNT VK ANn TRUST company of riiirani:i.piiiA . Philadelphia, September 2Tth 1020 .ft .wim.(,lr"r t 'he Hoard of Directors Si .in." ly tt nunrterly dividend of (he lobeJ A. Wwa" d'clared. naynble on Or en ih.'f1, ,iDI0- to stockholders of record It h?,.i ""H. ot the Company at the clone il, 'J,,l,"I,,aPemher 27th 1020, Chn lis L. i'0""1,? WU bB mailed, uniess other CeiSpin" hBNe b'e" nl"1 "l,h tl"' LnONAllD C ASHTON. oecreiary rillLADEI.nilA AND WlibTEKN RAILWAY CO. PRPmr.ir.rJ'i0""' Pa., Sept 13. 1020. VCJHItED STOCK blVIDEND NO. 10 elirSS . Ji'iJ' Dlrectora has thla day ile- Ip V.. .7 1, rl,u o "no whu nne-quarier thi. "nl (1 on the preferred stock of ,,,', ."mpany. payable October IS. 1U20, to f buSS "ockholilers of record at the close "",. Si'J. t mailed. BH.Bnrcw nnniPKSnN. Treasurer. Ill.VNKLIN NATIONAL HANK (,i!P"i street west of llroml . Phlladeliilila. September 27, 10211. DlrifnrJ r,;BV!r meeting iif the iloard of limterf; a,', hl", 1,1n.k' hel'1 this day, a eier.rAy dJ,l,cnil of live per cent (5) was Ortohi- 'i flf..ot ,n,e tax. and payable Kvff..1, J00, to jitockholders of record at Check, iuln"" r",ml"r 30- ,0-0' vn,CK will he mailed. .1 UM ifAnriT rnuhi.H 7IIE PF.Wwvr v a 77T7wC7.i, . w k.T IN,SJ !.'?' ,s ON LIVF.S AND KANT1N0 ANNUITIES Th. n. . September 27 1020 claVSS """rd of Dlrectora ha thla day de W tent ('&"5f luarterly dividend of 8een tlh liyift '. 'r ."urp,i iiayaum iicionrr elos. ? I0 stockholders of record at the " tt ;ubiess on Hentemher 20th 1020. - jn CAnPF.NTnn. Jit . Treasurer i .nt,'V" T WARD'S SONS CO. I Hon .tLri"rly dividend of IH on the com. k'Hrs Jfyr-b,,.BSDt'. 8(! ,Mn- t 'toe' '" of rscord Sept. '.'o. 1020. JOUXl VfXOD, -TrtMuratv ' jCAPITALS500,00a0OU H SURPLUSIEARNED) 11 II $2,000,000.00 JJ Mlxth&SpringGardnAZf VJsPHIlADElPHlA!gW AN INDIVIDUAL unacquainted with the intrica cies of tax laws and technical details of complicated estates cannot care for and protect your heirs like the modern trust company. The Northern Trust Company as y.our executor will give vour affairs the same careful attention as you yourself give them today. You may con sult any of our officials freely, without expense to you, re garding your estate. Louisiana and ' Arkansas Rwy. 1st MTGE. 5 BONDS Dated 1982, duo 1927 Direct First Mortgage Security Low Rate Per Mile Strong Sinking Fund Favorable Earnings Past and Present To Yield Over 10 Price and particular on requett. Martin & Co. .411 Walnut St. Philadelphia Tennessee Power Co. First Mortgage 5i, 1962 Portland Rwy., Lt. & Pow. Co. lit & Rest. S Due 1942 BANKERS 321 Chestnut St., Philadelphia .llimbcre .Vr" Vorte td Pnllndcpla Slock Ezchinpts SUPERINTENDENT Drolrrs noltl?n requiring the service of u inn n with executive nhlllty. capable of handling nil rlnncH of liibnr. ut present connected with large lumber nrgunlx.itlon along Drlitvtare ltler front, rim furnish A-l referenccx. Address reply to Hox A 033. I.rdner Office. Victor Talking Mach. Co. Charles Fearon & Co. 333 Chestnut Street Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS 1030 Ri:AL F.STATK TRUST IILDO. Ijiirstlgite mid ndlust partnership and corporation account. Also prrpnre U. 8. 'ncntne Tnx Returns. Tfie World's Greatest Oil Reservoirs This week's "Investor & Trader" just out contains special article on the "Latin-American Oils," with map. Every market trader should read it, espe cially as it covers ac tivities of Genernl Asphalt Cnrib Syndicate International Petroleum Tropical Oil Boone Oil Cities Service Birr Heart Mexico Oil and Federal Also Latest Now of Boston-Wyoming U. S. Ship Tonopah Divide Special article on to bacco stocks; late news of other active issues. Sample copies free, or five cents at news stands. Call, 'phone or write. Ask for No. T. U.-9G2 JONES & BAKER Specialists in New York Curb Market Securities Widener Bldff., Philadelphia Phones Bell, Locust 4730 Keystone, Race 2290 Oftlces in 9 Principal Cities Direct Private Wires POWER Dl PLANT Kl Crank pini trued up and now boxes furnished. We hnvo a full line of portable tools, riiono Wol. 1814 and Main 3144 PflIRS H iltMWlUK i zia-aata .daribnst. I "New Ydrk Bonds SALEfl IN 110061 Ttom Optninc Until 8t00 p. in. (N. Y. Tim) Amer Bmelt'r a 48 ' 2 47H Pa H m 4Ml 1 80H Fenna, n II Bs B SOU 2 80 3 80 renna II n 7 10.... 105 1.... 105 8.... 101 H 2.... lOitt 2.... 10"i 1.... 104H 3.... 104 W 1.... 104W 4..... 104W i.... 104H 2.... 104 Peoria ft U 1st 8 83 Readme Ry 4s 1 80V4 S SOU Rock Isln'd A L 4V4.., 1 07U 1 07 . SI L I'n Ml S'n nr 4 S 70 10 7BM 4 75 B 70 St h I Ml S II ft O Dv 4a 2 71U St Louis ft 8 Fran al B 00 11 00 B 00 2 08U B 08 10 08U B 08 B 08 1 00 St Louis ft S Fran In 8 BOH 8 BOM 0 B0U 1 B0 8 B8H ft n's Si i 70 ti 78 70U 70 70 70 W 70 70 Crle ft Ft cv Li 3 10 63 Crle Ry Co 4s I..... S8U 1 18 B 1 . . . i E Jersey As 1. . . . . 83 Oove't French Hep rcta 13... 1... 0... 70 Vi 70H 70 W 0.. lout 10.... 3.... 2.... 0.... 38.... 20.... 1.... 8..., 3.,.. 70.... 10.... 10.... 1.... 1.. . 10.... 11.... 2.... 101H 101M 101H 101H 101M 101 101H 101U 10t 101 v 101 H 101 u 102 i 101W 101H iom 101U 101 u 101 '4 1014 101'L A Tol U Tel rit 70i 1 70 10 70 H 2 70H , 8 75 A Tel Tel ! 2 804 3 80S S 80 H A Tel & T, iu ft 0(1 K 8, 0 00, Ar.g-French .. 34....,,D0T4 1 eon 2 00 SO 00 H 2 DA but Atch Topolta A S Fe 4s 5 70 '4 1 70H ? TOM 1 7RH 2 70V; 4 701 4... 1... 80... 8... 1... 101 H iom iom 1... G swts'u IC. S.... 102 ft.... 102 4 4.... 102 S 10..,. 102 0.... 102H 2.... 102S Atch Topeka & Oreen II A Wn H Fe CV 4 s 1 00 Rwy D in B 10U Atch T i H 1 Hav'a, Elee Bs cv 4a '00 1 3U 1 84 4 78 Ilud & Man fd 1 B0K 111 Cen'l 4s BW 1 72 1 72 Atch Topeka i S Fe ols 1 70 1 70S III Cen-4s 'n Atl C Line clt 2 71 4 1 714 Ill's Steel 4 Mi" B.. 8.. 20.. B.. 10.. 10.. 10.. 1.. 6.. B.. 13.. 1.. 1.. 3.. 3.. 2.. IB.. 10.. 1.. 8.. B8tt B8U BBU 68 'A B0 B8H B8U B0U B0 60 U 60 Vi B0U BOH 50 MM B0U B8ft B0U 60 Atl Coaat L'e 1 78 ret 7a indt'a Steel 8s 4.... lOOH 0.... 100 ',4 1 87 InlDoto M l'4 S 18 Salt & Ohio lv 2 07 Intboro Met'n 2 OS Halt & Ohio 4s 1 COS Halt & Ohio Hi. 1 8!Vl 1 80 K 1 80 2 8ft . 8 80 Vi II t O P L t; t W Va 4 Q 03 I! A O 8 W'l Illy 3Hs 4 77 1 70 4 73 Oeth Steel M 0 78M ct 4s 1 17 12 10 'i tnlboro It T t.l 1 40H B 40U 1 4IIH 40H 2.. 1.. 10.. 40'1 48V. 40 40 U Int'l Agrlcul'l B0 Corp'n Bs St L t 8 Fran 0 77W 1 M Marine n (1 flfl'4 2 82'. 4 B 82'i Series A B 40 0 U 1 B 7 10 80 00 00 00 00 U 60 00 60U 60U Ilkyn Rapid T 2 82 H 7a ct Htu 14 8 3 3ftW 1 82W llrdway & ith Iowa Cent' I 4 Avo en 1 43 1 44 4 44 St L ft a Fran Cal O 1 K Ji Jap Uove't 1st Series C 3 88 St Louis ft S 1 83 1 ,R!Ha 10 '83 1 83V, Can S'n 4is 1 73 0... II... 1... n... . 74 Hi 74 V, 74 H 7H; 78 74 '4 West'n en 1 00 St Louis ft S 2.1. 5. West'n 1st B 68 I 1 7Sl 74 Cen'l of On 0a Jap Oove't IM St Louis ft H 0 80 74 4 West'n 8s 7 63 4 05 3 03 I 8 05 Cenl'l I'ae 1st 2 .... 74 2 71 10 7414 1 .... 74 3 74 IS.'. ... 73 , Ches'k ft O fil 2 82; CSOcH'i 1 7BV4 St P'l ft K C , Jap Oove't -4s aVinel T. lliR C'k ft O cv Bs 10 68 2 B8 10 88 10 B8 2 88 2 07 1 07 1 07 4.. 80 60 4 8(1 ii SO. 80 . 10. 1. B. 5. o s! 6. Et 1"! Minn i M 4i 0 80 Bt P'l Minn ft Man'a cv 0s 3.... 102 Seab'd A L nl 1 30 30 B 30 Kan C Ft 8 ft M Rwy Os 80 H 80 1 04 Kan u ft M 3 80 , 3 B4". 1. 804 2 64V4 Chi ft Alton 3s Kin C & H As 4 47 C t Alton 3H 10 8SH 2 71 1 71 Eeab'd A 1. M .' 71 1 44 Chlcaeo II' n ft K llelg-'m 7 a 1 43 I B 44 1 Qulncy 4s 10 05 12 IW 7 03 8 05 B 08 2 08 1 08 0 07 1 08 1 08 t 'n racino in 24 7B 6 75 4 75 28 7B 3 7B Chi ft H III 4s 1 37tt La ft West fli Chi M ft PuBt 1 ... 03 S'n Pao cv 4a Sound 4s 8 .... 7 Chlcao Mil. Ht P 4a 10... . 07'i Lehigh V 4 1 70 1 70 2 7S 4 78 S'n Pao cv 25 00 22 00 1 00 00 20 00 3 SI Lehlah Vy fls 1 07 Louln Jeffer'u Chlcavo Mlt ft Drldge 4s 3 074 Ht I' d 4s 1. . 6 044 Lou & Nash -i 2 80 1 80 Chicago Mil & StP 4s '2S 20.... I7T4 Lou ft N al Oh (a 11 Rallws 4s 2 ns 8 60 is ei 3 .... 61 1 61 3.. . Hi 1.. .. 61 1 61 Chicago Mil ft L ft N rets 7s Ftr cv 4V4a 2 71U 2 71tt 2 71 3.... 103 Mldv'e Steel ft OrdtD Bs B 78 Chlcaeo Mil A Mo Kan ft Tex !?tP fd 4tt 2 03 3 04 1 03 0 03 8 64 1 03 1 04 Itwy fd ct 10 60 Third Ave 4s 1 42 Mo K ft T ,-nd Toledo St L & 7 42 W'n 4 a 1 80 Union Oil of Calif Bs B 87 Union Pac fd 10 70 Union Pao cv 2 88 10 83 2 83 Union Pac 4a 2 80 10 80 B .. . 80 1 .... 80 4 .... 80 1 80 Mo K ft T 4s 12 00 B 60 1 60 Chicago Mil ft Mo Pao cm 4s StP s-m 4Hb 1 7B4 1 7BU 1 7BH Chlcaeo Mil I- St P cv Bs 2 73 10 B7 1 67 10 67 2 67 2 B7 Mo Pac 6s '2J 1 80 C ft Nwn d '33 Mont Pow'r as 1 88H 1 83 1 82 Chlcaa-o ft Nth west'n 7s 2.... 101 1.... 101 Chlcaeo It I'n ft Pac fd 4 88 4 08 Chi U Sta 4 '4 1 77V4 Chlcaeo Union Sta ct Otta 8.... 108 Chile Cop'r 0s 2 72 11 72 3 72 City of Copen-hag-en BV4s 4 77U City Mars' 0s 2 84 2 84 City N T 4,4 Nov '87 1 02 City Paris 0s 1 04 1 04 10 04 0 04 2 04 N T C 4 II II R R ne 4a 13 67 Union I'ae Hs N Y C ft II R 4 .... 08 R R 0a 1 02 2 02 8 02 2 02 U K of O Rrlt ft I'd 1021 08 'l 08 OS na us ; 0Si 08K N T C ft 11 11 R R ct 7s 4.. 1 . 13.. 100 100 100 100 101 101 101 101 101 101 Ofttt u K "' a 1,rlt 18.. S,. B.. 0.. 1.. St va iu.- 5 05U 1 05 1 03M U K of O Brit & I'd 1020 B 88 7 88 7 .... 88 3.. .. 87'i 1.. 1.. 101 101 New fork D'k Co 4a 1 00 10 60 10 00 V IC of 0 llrlt A I'd 1037 3.. .. 8BH 1 ... 8BU 2 8SH 1 .... 8BH 1 .... 80 N Y N II ft II 4s of '65 1 85 Cl'd Cln Chi ft New T N II ft St L 4V4H 1 78 1 78 llart'd 0a 2... 80 i 3 85; V 3 Mexico S B 42 1 42 30... 1... 6... 5... n... A... 70'i 804 60H 81 70 4 70 V, 80 4 SO V, Cl'd Cln Chi ft St L Bs 0 85 U'd Rwys Iv't Col 4 8'n 4 '4s Comp'y 6a 1 00 4 IDK 2 7ft 1 7BW Cuban C H cv 1 OS IB 03 8 02tt 1 03 17. U 8 Realty & New York O Imp t Bs B 70 1 70 U H Rub'r 3 s 2 80 4 SOU 1 SOW 2 80 U S Rub 7H West'n 4s 2 02 N Y Ilys ct is S 2Utt N Y Tele 4' 7 77H 2 77S 3 7TS 1 D2tt Eon ft R II fd 2 DHIi 7 B4 1 B4 N Y Tele's Us 2 08U 1 00 3 on 1 88 New Y W J a Host 4a 0 SO 2 40H n. 23., 10 , r.. 1. 1.. 07 04 07 i 07 0714 07 07 tt Den ft H U 4s 1 nnv4 7 00 Pel ft Hud "V 23 86 D Can Btt '21 2 08 Norf'k S'n Bs U'd S Steel Bs D Canada 20 1 83 N'k & W'n 4i B T7K S K & V cw 0 1.... 102 8.... lOlVi 11... 11... a'.'.'. 3... 1... a... 02tt 03 02, 02 02H 02 03 02 02 3..., no 1 00 1) Canada '20 1 . .. 01h 1, . . 01 3... . 01 N'n Pacific Hs Eat Ten Va ft! B OHH Oeonla en 12 80V4 Crle Oenl Lien 4 47 8 47 Oregon 8 L 4s 1 7flH 0 77 s. 2. 1. 113 03 Oregon 8 L Bs 03 1 STtt , , .. .... Utah N'n ns 1 48 1 48 GOSSIP 6F THE STREET Yesterday's smmh-up was made the more disconcerting, from a market sen timental viewpoint, because, In a senso, it wag entirely unexpected. The run in of the shorts on Saturday and, with tho more favorable bank statements, the rank and file especially after the strong opening looked for n resumption of the forward swing, which in tho opinion of Bomo market critics is discounting the election of Senator Ilardinp. a little over a month hence. But some of the very best plans go wrong. There was certainly a genuine slipping of the cogs somewhere and the majority wcro not so sure after the closing whether tho reaction would not go further. There wcro almost, how ever, an equnl number who were posi tive In tho bellof thai thn honr crowd had overshot the market 'and tho market was in a badly oversold condition. The latter belief tiolnr hnnpd lnrselv on tho seeming inability of tho bear contingent to dislodge any considerable amount of long stock. Professional Wall street only natur ally is disposed to make all the capital possible out of the revision of com modity prices, especially the solar plcxls which, apparently, has been given the motor Industry. Much Interest nat urally centers in the conference, which is to be held this week at Detroit, to decide whether or not to follow, at thlM time, the cut prices made hy tho Ford and tho Franklin car companies. In the meantime word came from Chicago yesterday afternoon that one of tho largest dealers in high-grade used enrs, whose stock' Is made up of only standard makes with 100 late models, announced their reduction of $250 to $1000 on any car in their concern, re gardless of cost. The rather violent slump in the cotton market did not help matters any, but such a result was generally deemed in evitable after the cold shoulder the Fed eral Reserve Board gave tho cotton growers a short time ago. Cotton hold lnes. like nil other illegally held com modities, must be liquidated. The land slide apparently has only started. Deflationary Tendencies Extended Timely comment on the Industrial re adjustment which undoubtedly is in progress I made In this month's busi ness review of the I'enn National Hank. In discussing general trade conditions the letter says, "There has been n notirenblc strengthening of confidence In tlic business outlook during the last thirty days. "This feeling is based not so much upon nny actual inrrease In trading activity as upon the splendid outlook for the crops, the important improvement in railway transportation, and Indica tions that commodity liquidation has proceeded to the point where some real relief from money stringency may be expected as soon as the seasonal re Security for Credit Managers The credit department of a modern mer cantile concern shoulders financial respon sibilities equivalent to those of a bank but without the security that protects the latter. The American's Policy of Credit Insurance furnishes just such security. It not only insures the credit man's house against ab normal, unforeseen losses, but it insures the credit man himself against risks and unpre ventablc mishaps, and constantly strengthens his standing as a credit executive. Now of all times is the time to safeguard, with the American's Credit Insurance, against the uncertainties of trade. Man ufacturers and wholesalers, write or phone today for complete details of our protective service. AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E. M. TREAT, president latUIS STANDARD UNLIMITED POUCIE1 J W. J. Morphy, Manager. F. J. McFadden, General Agent. MUTUAL LIFE OF N. Y. BLDG. Phone Filbert 5503 Philadelphia, Pa. Friendship of a Bank Many foresighted merchants and manufacturers recog nize that the friendship of an important bank is a priceless business asset. And especially a bank whose officers are "human" ; men who take pleasure in other men's success. We are in business to lies our success and yours. National B ank j Commerce in PKiladqlpKia 713 Chostnut Street Xsthan T.Io2waJJ.Jjrai(iont We Specialize in buying and selling the Stock of the Automatic Fuel Saving Co. traded in on the New York Curb Information on request J. H. BRAID & CO. 20 Broad St. New York City Telephone Rector S1SS quirements of tho crop moving are out ot tho way. As to actual occurrences In the mercantile markets during the last month readjustment to the changed conditions continues to make progress and is affecting successively the various producing and distributing industries. However, the transitional period has developed no alarming strain, and thcro is reason to believe that busi ness, at no great distant date, will gradually regain its bearings upon the more normal level toward which de velopments for some tlmo have been shaping. The confusion which prevails In many of tho commercial markets is the natural reflex of tho unusual stimu lation of tho last year, and when the normal trade processes have been Inter rupted It requires tlmo to effect a re distribution of goods and to nllow prices to work to a basis which will permit of a renewal of confidence. "While- the shoo, clothing, tcxtilo and allied industries were among the first to show deflationary tendencies, tho circle of contraction has steadily be- come more Inclusive. High prices for sugar brought the natural and effective cure an increased supply but larger imports took from other countries, as tho world's crop was short. Wholesale sugar prices have declined nearly ten cents a pound. Rubber has continued its steady weakening to the lowest levels ever recorded. Tho grain mar kets arc uusteady, and flour buyers cautious as to the future. Coal prices show softening tendencies as car move ment improves. Automobile companies havo experienced a falling off In orders, and tircmakers nrc curtailing. Even tho steel Industry reports somo case ment in forward buying, botn nerc nnu nbroau. Ocean freight rates are solten Inz. and failure of the shinning board to get bids September 1 for Us steel shins reflects the lower demand for ocean tonnage. "All nround the Industrial Circle tho tendency of buyers Is to go slow until the extent of the present readjustment Is clear. Demand Is now subnormal, and this cannot last any more than could the extravagance and overbuying of last year and this winter. People must be fed, clothed nnd housed, and there Is not yet a surplus of most com modities as measured by a normal de mand. Cancellations of orders In In dustries temporarily depressed have been heavy, but it is probable that once confidence In tho stability of prices is re-established many of these contracts will be placed ngain at tho lower levels." TUB TItADEK. EHRET SLAG ROOFING EHRET ROOFING & x, -HFG. CO. e, DREXEL BLDG. T D FORTY FlV&n , help other businesses. Therein L OF International Congress at Brus sels Obtains View of Situation. Resolutions Being Drafted U. S. OBSERVER IS PRESENT tiy (ho Associated Press IJrussels, Sept. 28. Reports relative to the financial position of'varlous na tions were received by the international financial conference in session here to day. It is the plan of the conference to secure a broad view of the1 whole situa tion before attempting to mako recom mendations, or dealing with problems which are presented bv nny country. It is expected reports will bo compiled so that tho question of currency nnd ex change may be taken up tomorrow. 'Drafting of resolutions, which will mark the first step toward reaching con clusions In the conference, has been placed In tho hands of a committee. These resolutions will set forth the view of the conference on questions relating to public finance, which will bo classi fied In four entcgnrles, outlined by It. H. Brand. British view of tho confer ence, follows: First Kqulllbrium of budgets, re duction of expenditures, limitation of governmental functions, reduction of armaments, elimination of subsidies and selection between direct nnd Indirect taxation on capital. Second Necessity of limiting loans to real productive purposes. Third Funding of external debts, with a fixed date of redemption. Fourth Advisability of internnl nnd International trade restrictions. The real work of the assembly was begun tills morning by the committee on fubllc financo on which Roland W. loyden represents tho United Stntes as unofficial observer. While the monotonous rending of fig nrcs wns going on In the mnln session of the conference the committee begun the appointment ot subcommittees to draft resolutions In the four categories, embodying questions for submission tn tho main committee. Later other com- inniiniiniraniiiiMiinninniminmOTiiuinniJiniimiakTMiiiKmaimsiinBiiiTinrs I BITUMINOUS COAL 1 1 OPERATING .MINES TOR HALE. H 3 Cnparltln 60 to 1000 tons dully. g Pool I. 2. fi. O. 7 Tonnage for j Immediate Shipment. y I'honei Woodland 0200 .7 S RfPP. 820 H. I0TII HT. g rnmnTruiiiiTTJimimmTiniirTJSrrrirrijrannuiiniriunii.TiETnuiinnnrtiini.ninjiii.nii rfewapl Edwin j.5aioETTLt;ca BttFOa30XES&MAnj S35lsojmiiLm SXKEBT . PHILA.. ELUMBINGfrHEATIMr in.w.iiiDr.lWI ,i'.V 524 Walnut St. j Jobbing a special! j - - FOR SALE 15 ACRES Ideal Manufacturing Site Switches connecting with P. R. R. and PAR Railway on proprety. Run- nlns wnter through portion of property. 14 Mile rrom riillndrlplila Adjolnlnc Totrn 12,000 Inhubltints ISAAC DOUOIITKN, JR. 41 So ISth St.. Phlla. NOTICE TO ARCHITECTS. CONTRACTORS AND OWNERS MORENE LIKWID SEMENT Opens New Possibilities for RESURFACING STONE, BRICK, CEMENT, &c. Applied with a brush A Material Superior to Stucco. Waterproof Indestructible Any Color Any Texture MfB'd Poll h Morone Products Co V Y Phlladelph! i HepresentatKo TUT Al'"v CO ill u,, nida Rrll I.oenst 0q Keyainne Rare 20S1 Let us euhmlt nn eetlmut for beautlfsln 5our bulldlna; Easy 0 Erect SHEETR0CK WALL BOARD A uniform Hlirrt nf pure gypsum rock, tnkea nny ilecnrntlve treatment. It ran he pHpernl, piilnled nr paneled. Here la what .1011 minted wnll unci rrlllnKH tluit Htiiv put, reeurillesa of rllimitlp rnnilllloiiii si;i:THOCH . Ilr.-pronf. An In aiilntor nf heat, iuiiI.ch Hip bnllillnc cool In summer, twinn In Inter. For new riinstrurtlnn iiltrriitlnim nnd repnlra cost la uctnnlh less than Hint of frail, iinsntlsfm tort wall hniiriK 14 Million Ft. in Stock Prompt Delivery. PEARCE FIREPROOF CO. N E. Cor. Broad and Arch Stt. FINANCIA SA EUROPE HEARD Helping the Railroads Conserve the Motive Power Every week the railroad ear service commission at Wash ington reports how many freight cars the several railroads were unable to move by reason of lack of locomotives. If shippers and manufacturers would load cars to their fullest capacity and unload promptly, much freight would bd moved which today is being delayed to the detriment of industry. THE BALDWIN LOCOMOTIVE WORKS PHILADELPHIA mlttces will be named to consider cur rency nnd International treaties, and experts will ho called in. Tho resolutions to be presented are expected to constitute the nearest ap proach to practical results from the work of the conference. Hecker & Go. Bonkers and Brokers Members of Philadelphia and New York Stock Exchanges N. K. COD. 0T1I AND CI1KSTNUT STfl. OCEAN TRIPS TO BOSTON, Tuei., 5 P. M. Sat., 2 P. M, SAVANNAH JACKSONVILLE Tue., S P. M. MCALS AND LIiriTED NUMBER OP HEIITHS INCLUDED. Merchants & Miner Tran. Co. PIER 18, S. DELAWARE AVE. Telephone 10OO PARCEL POST Shoes Need Mending? 1TI.I. NEOMN HOLEH ifl rrr- ANI) ItUIlllER IIEEI.H. ?i.o Krpuirinr aone wmie you wnlt, Tarrr! post orders mini qulrkljr. tiUICK-SEUVKJIi SHOE REPAIRING izn h. 1 ith St.. rhita. ftt3 now AiiouT tr SOJin .MONEY on DIAMONDS AND JEWELRY RATES LOW AH We WALTERS' PAWNSHOP. 001 VINE 8T. IIONDEO TO "TV - SS, f: accac 1 fl ?S3V ijea-s umoov-U) Aewvr vse KYEH EXAMINED FREE Droken lenses duplicated. Prescriptions filled SCHLESS, 1030 Market Street Ml X(.f. INSTRUCTION BARITONE SOLOIST Thoroughly experienced, deslrea position Catholic Choir A 70S. LEDGER OFFICE In HYPERION SCHOOL OF MUBIO NOW OPEN Vocal. Violin. Piano. Organ. Franklin E.Cre. son Dlr 1714 PhMlnilt St .S7 E.Penn fU..Otn. AFTFMN RESORTS ATLANTU CITY N. J. TRAYMORE atlanticcity rWRLDS GREATEST HOTELSU0CESS HOTEL CONTINENTAL Always open. Alwaya ready. Terms nod trate. Plione or write. M. Walsh Duncan. Westminster Kentucky ave. nr. Uaca. , v esunuisicr EIcv t0 prlVi b,thJ. run, wateri tCO wkly, 14 up dlr. U. Huhre. Hotel BoSCobd Kentucky ae. Uathln. nolu oustuu''1 Hotel refurnished. F. 1 ollent tahl. I'hone 117 A B. MARtON 1 " vr T.ANTir riTV. v. .1. 1'nMimnwii for lleilthfnl Ret A' Reerentlon. OCIIAX C1TV N 3. BISCAYNE Running water In every room , booklet, n Hlundln, ASRI'RV TARK N. J. AS1IURY I'ARK. N. .1., AI.I, YKAR KIXIRT WIlITi: CITY INFORMATION IIUItEAU ' LAKKWOOn. N. J. LAUREL HOUSE I,nr.WOOD. N. .1. OIKN OCT. 1 Oldest nnd moxt exclusive I.nKeood Hotel Hnest Resort dolt Course In the World Just think of It! Only 62 milts from l'hllnilelphla nnd yet truly n resort. Easily reached by motor Modern luxurious and ihcouEhly abreast nf the times A.J. MnrpliT. Mer. P V. MnmhT. Ast. Mar. SWARTIIMORK. TA. The Harvard Amer ,,lan ,u1 ine iiurvtuu,,,,, ph Rw(,rthn, or etv. more 232 rr7i A sK "I I Mount l'ocnno. Pft. ( DfllTllVn MOUNTAIN HOUSE ' irUUVllV Tt Pneono. Pa. Cap 200 I r. I. HOOKER. Jit . Mer. ! KUM'IWmillMIM 1 TOURS M fej 1: COOK'S EJ2I TRAVEL SERVICE 1 MtJ I j COVERS THE WORLD jj fl$r 8 TH0S. COOK & SON, J I 225 So. Broad Street. I utt I j (Below Walnut Street) l VV 7 1 I wvcz 1 1 JDl IClv IS i ' JvtiuA I Cheapest g FORWOOD-METALORPLASTERH 11 4THI Storea B p ! or I Thomson Wood Finishinq Co. U T wTTTr-w "TMimrnr -n nnnf I,'i k "" " "l ', IlNSTALLATJON and REPAJFv,ORK h COVtniNQ THE ENTIRE FIELD OP B ) H KUCHANICAl. EQUIPMENT "IB DUILDIN8S ll 1" 1 Plenty of ! I Seating Boilers i N on hand nml plrntr of cooil men W ;i Q in Inxtall them at nine, are lierc U " B t j our romniiind ft H l.i or Mht Town or (nuntn jjj p GOVERNMENT DONOS nla 101 ,101 .101 Ak" 101 m 102 102 Panama, eoui Panama reef Panama coupon 2s, 10.1s. Panama registered 2s. Ill I'll no tn a nmir.M n a 1 tktl 1 nss. .101 - nun -iurnii ns, Jim 1 , tt J.2n"m!1 coupon Ss. 1001 ... TT Philippine it, 1084 is Phlllpplno 4s. 1085 TO Philippine 4s. 1030 T K 9 on coPon 2s, i030.,..101i U 8 Govt registered 2s 1030 101U JAMES M. IRWIN & CO. LL-UtVieERS,V(AD,.L Wall Boards Tar Roofing Paper Wfi DfillUPr The WAyotTwant It IIC UGIIVGI The TIME yeu went It Offlaa A Yard-Wl Beach Strtlelow Latin!. -fr ALBERT DOAK Md8on Contractor 2138 Arch St. Specialist in the Brick Setting of Boilers Tile Your Bathroom STANCO The one-pleee wall tile posts but one-thlM tho price of regular tile one eolld piece on each wall: no seams or Joints to come loose. Write or call for esllmnte Thone Ilel. 42BS. Standard Wall Covering Co. C5I7 TINE ST.. PHILADELPHIA. gown STEEL HOOPS n3B B BANDS BARS J ANGLES WIRE rrompi uenreries irom eio:. W. W. BAKER & CO. 940 N. Front St. rt.11 Mnrlft 3101 K.Bfnn Pnolr Hftt I 5-1 iisi ...... 1. . -- ...v, ...., , ...... SMOOTH iiraiiim'iRriiwiiHniiKiri I r REFRIGERATING PLANTS Automatically controlled. Saves money, food and labor Eminently satisfactory. Hlzes for all purposes Expert engineer Init eerlces In connection with or remodelliiR present plHnts PAUL E. FLOTRON CO.. Itefrlgrrnllng Engineer,, uml Contractors 023 l.iifiorttr lllilic . PI1II11. IF IT'S ELECTFraL IT'S MODERN 21 years' experience. At jrour nervier. I.nrco Dlxplny of Fixtures ami Appliance. SEVILLE ELECTRIC CO. 226S.52ndS.t.I4ONT Adjoining l.nrust T'lieutre jS Repair Now tlave Reduced our Pricei on Lumber and Millwork. JAMES SHAW 52d &. Woodland Ave. Woodland 872 West 407 1 "What will it cost to build?" was the question when your grandfather built his house. "What will it cost to maintain?" is the question today. Modern business goes to the root of the matter. Common brick is cheap est, not merely at the start, but because it costs nothing to maintain after ward. Brick will not rot, or rust, or burn, or crack, or warp, or shrink. Noth ing hurts it. It requires no protection, no painting, no repairs. The brick part of your house costs you just nothing per year. And today you see old brick houses, after long , use, selling for twice as much as when they were new. JOHN Tt. RAni.i:r rsicen etovvn Lane and I; St FRANKPORD URlCIi WORKS jorrrequio Aenua KKYSTONK llHICh: CO Godfrey near Second St Pllie NORTH rill LA. llllICK WORKS Rlslns Sun nnd Luzerne F. sniTTER'S SONS Nleetoun Lane nnd Q St. Ill M C. II SINER Church and Tacony JOS T. HYHNE EST. 20th and Clearfield BV1I.P WITH DRICK FORLA Ell ' IT LASTS mZJmmw I k . giBffllllM w j 't: 'a . ii l ''i&2s$av .-f44isjrt rtK: