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VBIitCNra PXJBBICi JifcH OOTOiBER 28,'M90
,
fc!
$500,000
New Castle County, Delaware
City of Wilmington, County Stat
&Vt Coupon Gold Bond '
Due serially, July 1, li)24 to 1028, inclusive, and
, 1936 to 1944, inclusive
t
Exempt from all Federal Income Taxes
FINANCIAL STATEMENT
AiMMcd Valurioa 1120 $16034,932
Bonded Dent (Intlsdlaf tltio inaii) 3,123,M4
Ratio of Dtfct to Aliened Vslnsu'on leu tlta 2
Fopelsllsi (U. S. CBi) 148,239
New Castle County contains more than 60
of the entire population of Delaware, and its
assessed valuation exceeds 75 of the total
for the state.
Maturities 1924-28 to yield 5l2
1936-44 " " 5
Circular on request
Eldredge and Company
SEVEN WALL STREET
NEW YORK
Under authority from the French Government
ule are receiving subscription for
i
Republic of France
6 National Loan of 1920
A direct obligation of the French Government
Dated December 16, 1920, and redeemable at par at
the option of the French Government after January 1,
1981.
Subscriptions payable in dollars at the rate of exchange
fixed each day by the French Finance Commission. '
. Various earlier issues of French Government bonds
will also be accepted in part payment upon officially
specified terms.
Price today $63.30 per 1000 Franc Bond
Further information upon requett
BROWN BROTHERS & CO.
Fourth & Chestnut Sat., Philadelphia
FIDELITY TRUST COMPANY
3.65 Interest on
SAVINGS FUND ACCOUNTS
Office!
32S CHESTNUT ST.
1431 CHESTNUT ST. 6324 WOODLAND AVE.
Capital, 98,200,000
Surplui, $16,000,000
Experienced
Traders Use
This Booklet
at a guide in many of
their market opera
tions. It is full of val
uable information. It
tells:
How to give a Broker
Instructions.
The General Rules of
Trading.
Brokers' Commission
Charges.
How to Indorse a Stock
Certificate.
How to Use Collateral
in Trading.
now to Group Their In
vestments. The Deposit Require
ments for Carrying
Stocks on Account.
The Rights of Stock and
Bond Holders, etc.
Call, phone or write at
once.
Ask for N,o. T. U.-981
JONES & BAKER
BfttUdiU m Nm Trnft
Ctri Mtrktt BittHtkt
WWentr Bldt., Philadelphia
Phones Bill, Leant 4780
Keyston, Roc 2290
OSes. In Principal CM
JMres trite Wkm
We offer subject to tale
a selected list of
Railroad Equipment Notes
yielding from
6.50 to 7.40
Reed A. Morgan Co.
Members ot the rtilU. Mock Exeh,
West jtfitrf Trust BUg Phita,
K
$500
GROUP
INVESTMENT
To set approximately BJS and
with additional roturna In prospect
If tha itacka raturn to tha high at
1S10 or 1920.
A raturn to tht prlcts el 1010
would mean profits of 100 and
If they touch 1020 high prices
profits of 80 would result.
This croup together with a nuss
ber of active Issues analysed In the
current Issue of our Market Review.
Write for D-tO
GUTHRIE & McGOVERN
Member rhlla. Htock Exchange
1430 .Smith Vtna 8a., rhlla.
flpruee U0 Kac. soft
Xtn Vork 82 Uroauwar
GOSSIP OF
THE STREW
Armour & Co. 7s, 1930
City of Christians 8s, 1945
Kingdom of Denmark 8s, 1945
Jones & Loughlin Steel 5s, 1939
Seaboard Air Line 6s, 1945
Packard Motor Pref. & Com.
Willys Corp. 8 Pref.
MortonLachenbruch&Co.
LAND TITLE TIUM1.. FHILA.
Jfrmbers Philadelphia. Chlcaoo. Detroit
and Pittsburgh Stock Ktchanati
Tel, Spruce til, lUce 6030
New Tork Chlosgo Detroit Pittsburgh
QCtcts tntrrconnrcled by private wires.
FINANCIAL
Dividends
THE MATtKKT HTREET NATIONAL IIANK
Fhllsdelphts, October 31th. mo.
Too iiuavru u wiitiwip ng ucciarea
I aiviQena 01 jub io; pt
Mm.'nnual dividend
or nro iai ui m
bayalile NTnbr M, lH0. to itocltholdr
ii re"u . .tiw mvii. w. vw,tis wiwoer
6th. 1020. .
Checks
be mslttd,
3D V, aPELJ.18ST. Cashier.
TUB OIKAKD NATIONAL DANK
1'niisaeipnis. i'a. uci zu,f iui'q
iia
The noard of Directors h thl
mo.
ly U-
Isred a quarterly dividend of Svo per ctnt
Cheeks will be mslled.
Sorrmber 1st,
at ine i
ilarad a quanjriy a
J). parable Norm
loldere t ""A'd al
ctober SOU.. 1020.
;nec "l v-,1'.,ji ..m-. . .
citAitUKtt H. Anuiun, caenier.
'i eiocK
oo of business.
r
rropoeals
moiosALH ttm tiiu installation or
an ElMtrlo Llshtlnr Hretem In. the New
Power Plant7 Iluirillng. Office of the Officer
In Chario , of Construction. Krankford Ar
aenal. lhlldelphl. Pa. Sealed propol
will be received here until 3 P. M. Nomnber
0, ll. tnen,openea. ior jnaiaiiation aa
aiaiea itcti, i w. hiiwhhmi".. v..
ajBUcatUe,
The rapid downward moTement In
commodity prices very naturally over
shadows all other developments In the
general situation. It Is not so much
because of the falline; prices, but tjje
undisguised fear that the radical
transition will result In a Bcmlcollapse
of tho business structure, with conse
quent multiplying embarrassments.
Just as, a few months ago, prices were
too high becauso supplies were under
estimated, So now ther la n noaalbtl-
lty that they will fall too low, and that
somo prices have already fallen too low,
through underestimation of demand.
Any further declines In wholesale
prices during the next few months are
n?t iikoly to be offset by recoveries in
other lines. This, however, applies to
wnoicsaie rauier thun to retail prices.
These have not POme Hnvn n mm.
sppnd with the wholesale reductions. Re
tailers who have tnken In wb f tha
higher prices are reluctant to sell them
for less than the expected profit and are
trying to uoiu on reductions save on
goods bought at reduced values. Such
a policy cann6t long continue which
tne wholesalers found out, many to
their sorrow, Borne months ago.
An illustration of the radical change
In market conditions was given yester
day in the. case of the schedules being
imcrcu oj one ot tne large eastern tex
tile mius, unis concern produces a
high -grade of cheviot cloth, which a
year ago it was offering to the trade at
8.40 a vard. Today the same Cloth is
being offered to the trade, mostly to
merchant tailors, at $2. CI a yard, and
even at this greatly reduced price the
company nss secured relatively small
bookings, mainly because moat of the
tailoring establishments are still en
deavoring to work off goods purchased
. ai mo war prices.
Hand'to-MouUt Purchasing
Apropos to the much. discussed re
vision of commodity Drlces. tho Me
chanics' and National Bank of New
xork, in its November review of busi
ness conditions sayst
"Onn of tha lrmllnr paiirph nf th
price decline has undoubtedly been the
inability of consumers to continue pay
lug the high prices, combined with their
icciing that prices were unreasonably
nigh even when they could afford to
pay. In view of this, it Seems at first
fiance remarkable that the drastic fall
n prices has not stimulated buying. In
manufacturing and merchandising lines
demand is more hesitant than before.
There is only hand-to-mouth pur
chasing. This is easier to cxnlaln from
a purely psychologic standpoint than
on objective economic grounds, In the
belief that prices have still further to
fall, a large number of consumers arc
holding off in all but their most im
mediate needs. Dealers take only as
much as they must to keep going, as
they do not want to have stocks on
their hands that may shrink in value.
"Tho failure of price reductions to
brlci an immediate increase In buying,
therefore, is not only natural, but In-
finable. A period of dullness and
hesitancy always follows a period of
xharply falling prices. Though Bharp
reductions have brought no Influx In
buying, wholesalers and manufacturers
arc now resisting further declines,'- on
tno ground mat they would be sense
less, and only frighten buyers the more
This position is quite defensible. It is
all the more so in view of the decline
which has already taken Dlace. If ure
cedent counts for anything, it may be
pointed out that while prices have
fallen more thun 20 per cent in the last
six months, it took them twelve years
to fall less than 50 per cent to pre-war
levels after the Napoleonic wars. Two
vpnrM tiftpr the f!lvll Wnr. nlsn- when
I prices hod fallen 12 per cent from 1805
'to 1800. u recovery followed the break.
und prices did not reach a SO per cent
decline from iouo levels until more than
ten years later.
Ambitious Schemes Fall
The apparent lamentable failure of
the rose-hue plans of the Qaston. Wll
Hams & Wigniore Co. to materialize is
vtrlkingly reminiscent of the big fiasco
encountered by the Assets llealization
Co., which cost a number of Philadel
phlans many sleepless nights and con
siderable shrinkage In the contents of
their pocketboolts.
Both companies started out with
bright promises of doing big things,
which on paper appeared to be wholly
reasonable and plausible. The field of
. the Assets Realization Co., like O as ton,
Williams & Wigmore. had every proa-
; pect of being prolific, of Immeasurable
nronis. xne last namea company was
Incorporated in 1910, to do a general
export business, and for a time the out
look could not have been more prom
ising. A large business with ltussla
Iwob done, but when that country col-
i lapsed heavy loBses had to be written
on;, xne adverse exchange situation
with other European countries also hit
the company bard, and many of the
ambitious schemes of the organizers had
to go by the board.
Recently the company sold its ore-
' tentious bulldlug at 30 Broadway, New
Vork city, to occupy more modest quar
tern at West Forty -first street. From
TOM) i the top price which the stock sold
, nt in 1010, the year of its organiza
tion, the stock Hold a few days ago at
; ad. Just another cane of blasted hopes.
1 Utilities In Better Favor
Recent strength and activity of the
i nubile utility issues, says the Wall
Street Journal, would seem to indicate
that traders are swltchinp Into this class
of securities on the belief that falling
commodity prices must have a favorable
effect on operations. Throughout the
Industrial prosperity prevailing In thin
country practically contimiouni for
four years, tho utilities have been ad
versely aueqted. uigii eiirning power
lor tuuuhtriai companies meant nigh
commodity prices and brought down
earning power of the utilities to a point
where many were selling at receivership
prices. Utilities have not participated
in the rcceut break, hut on the contrary,
have shown strength as a rule, advanc
ing in the face of fulliiig prices for the
Industrials. Earliest gainers from 'this
development ure likely to be among the
gas and electric companies, Labor, the
chief item with traction companies, is
still nt Its high peak. Public sentlmcut
generally wuh against the utilities prac
tically up to the close of 1010, but offi
cials of utilities profess to have seen a
decided change for the belter since that
time, Heverul of the large companies
have only recently received permission
to advance rates.
TIIEJTRADER.
RICH WIDOW ALLEGES PLOT
Avers Chauffeur Indirectly Brought
About Death of Husband
Chicago, Oct. 28. One of tho most
reniarkable stories ever chronicled In
Chicago courts was disclosed la
a suit instituted by Mrs. Augusta J.
Glendennlng, widow of Robert Olen
denning, who left an estate of more
than $2,000,000 to have removed as a
trustee Thomas Davis, ber former
chauffeur.
The bill contains many startling al
legations, chief among them being that
Mr. Davis indirectly brought about the
death qf Mr. Glendennlng and that in
pursuance of a plot to obtain the Glen
dennlng millions kidnaped the widow
end held her Incommunicado in a mad
bouse . .,,
1 . I,
New York Bond
r- .
j Financial Brief
I0ALES IN IICOOI
from Openlns OatH SlOO P. m. Of. T. Time)
A Arts' a 4Me
0..... 83
Adams Ex de
1 H4
Amer Smett's
R'S Be
1 TT
1 f
3 1
1 77
...... TSU
Am T otl
1 11
Am Tet ft T Sej
1 soii
1 SOU
8 SOW
1..... 80
B SO
Am Tel T s
1 07
1 87
1 97
1 9U
8 SSH
Amert'n rTVSi
paper 7
1 TO
1 7SH
Ann Arbor e
1 05
Argentine Ite
pabllo 8s
8 71
Armour A Co
li Set 4tts
1 T
1 19
A ton TOixka A
B re is
10 77U
io nA
a 77
s...:. 77
Atoh Towka a
re cv 4S
3 en
3 SOU
Atch Topcka a
8 Fe ajs
3 73U
All C Line 4s;
7 7Bi
Atl C Line 7s
3.... ion
1.... 102M
Atlafttlo Fruit
Comp'y Ta
1 ASH
1 85
D it
Halt A Ohio cv
Den as II O 4s
S 87U
d a n a 4Us
1 71
S 70H
S 70H
Den tltaii
1 74
D Canada '20
8 90K
3 soy.
1 01
D Canada 'II
29 ton
Erie Ota Lien
1 48
Erie nit sv'A
2 4SU
3 48
Erie n n ev B
3 45
Erie II It ev D
3 OIK
3 83
1 B1U
S 81U
Erie Ily Co 4s
3 69H
Oen't, Elect as
l.... 1DU
8,... 100H
4.,.. 100
3.... 100
3.... 100
OovVt Frcnob
Rep rets
8.... 103
4... I 102
10.
1..
0..
10..
3..
8..
3...
.78
78
78
78
7tt
72W
72H
Ualt fi O fttte
i "
4 84
Bait A Ohio 4a
2 7SV.
8 7314
Bait 4 Ohio s
2
4...
1...
10...
S...
1...
3...
2...
in o r L E
a V Va 4 s
B.. .. 07 H
Bell Tel 7s wl
Oil
01
Oltt
01
01
OlVi
01
01
7..
8..
1..
22..
2.,
4..
2.'.
1..
)..
1..
10..
1..
4..
2.
101H
101
101
101
101
100
101
100K
100N
100K
101
100
100 K
101
Beth Bteel fd
2 7SK
Bethte'm Steel
Ss of '80
0 70
Bkyn KapM T
74 Ct Sta
5 80
Bunh Uld'g 5s
4 74
1 75
2 74
1 72
Calt O E 5s
1 88
Cen'l of da en
2...... 80
2 80
Cen'l ot a at.
5 00
2 00
Ctl Fscinc 3
18 70
C & Alton S
3 38 Vi
4 ssi;
Chicago B'n A
Qulncy 4s
4 00
C'k A O 4s
7 70
2 70V
1 70
C & O cv 4n
10 75
25 75
8 75
0 75
C'k A O cv 6s
2 88
4 88
4 85
Chi A E II 4s
1 30
2 80
Chi A E III Be
8 82K
Chi A Own 4s
3 87
2 57
1 07 Vi
Chtcasa Mil A
Bt P 8Mb
i em
Chtcwo Mil A
Bt Paul 4s
8 70
2 71 Vj
Oileaco Mil A
EtP cv 4s
2..
1..
2..
1..
1..
3..
74
74
73 i
734.
73
73
3 73
2 73
Chicago Mil A
atl' td 4s
8 04H
10 U4
Chlcat-o Mil A
BtT cp 5a
8 08K
Chlcuto Mil A
Bt P ov 5s
S 78
Chtcaro A Nth
W'n d '38
4..... 01
Cblcaco A Nth
Weet'n 7a
1.... 104
Chlcnso ItaU
ways Ba
1 00
Chlcaso It laid
A Pao fd
8 88
15 88
5 08
4 08
1 88
1 OS
Chile Cop'r As
6 72V
8 71
1 71 .
3 72
City of Copn-
basen 0s
4 75
1 75
3 75
City Lyons Oe
1 S3K
City Paris 6e
2 954
li 03
5 95K
7 05
1 03
Cleva'd Short
Line 4s
2 89
Col A B'n 4s
1.... 7BS
Consd Oas 7s
101
101
101
101
101
100 1
100
101
0....
1....
1....
1....
3....
Cuban C B ov
8 90
1 90
Den A It (1 M
4 58
a..... 64
10m .,. 84
4.
18.
1.
1.
1.
10.
1.
3.
5.
18.
2.
101
101
103
101
101
101
101
102
101S
101
101
O Birlts'd rets
8..,. lOS'i
7.... 103
Hud A Man fd
1 01
3 02
5 01
1 81
1 01
Hud A MAn In
11 23
10 23
6 28
III Central M
1 76
B 70 U
III Cen'l 4s '33
4 71
Intb'h M 4s
o 10
3 10
2 10
3 1H1
1..... 18
10 18
Interbora Met
Ct 44a
a 18
tntboro It T fd
1..... 89
Orecon It It A
Navl Co 40
2 02
Oreeon B L 4s
1 82
Ors-.Wash'n It
Co Mar Co is
1.... 73
Pao T A T Re
5 But
Pa. nn n 4
1..... 00
ra nnrm 4
8 83
5 88
a 63
p nn 4 '21
1 98
Penna, n n 6a
10 01
s or
S 91
Penna n n 7a
0.... 104
11.... 105
6.... 105
1.... 104
2.... 104
Pera Marat 4s
1 00
Pero Marat ts
1 65
Phil Couny ev
22 93
ntu an cm
A Bt L a Os
2 85
Publto Bervlce
Cn N J Be
2 89
Readlnc ny 4s
1..... 88
1..... 86
Republlo Cuba
8s Of '04
5 79
Rio O A W 4s
3 07 H
3 87
3 87
Rio Orand A
W'n clt 4s
1 54
nook laid Ark
A La 4
1 63
1 08
5 68
4 03
2 08
San Antonla &
A I ny 4s
8 62
Bt Louis A 0
Fran a)
35.
11.
2.
1.
2.
4.
3.
20.
2.
8.
1.
62
B2
02
52
52
02
51S
01S
02
52
B2
1
8
2
1
1
0
10
10
1
1
2
Bt Louis
Fran In
4
6
8
1
2
10
7
0
10
1 M Marine An
8 80
8 80
2 SOU
0 80
1 30
Iowa Cent'l 4s
1 46
Jap Oova't li
1 74
1 74H
10 74 i
Jap Oove't 2nd
20 74
4 74
JSP Qove't
1 57
2 67
5 07
Kan O A H .Is
1 74
1 74
1 74
1 74 V,
1 74
1 74
Kan City Ter'l
nwy 4a
1 74
1 74
3 75
13 74
3 73
K Bet- 8s '25
1 02
K Bea'm 7s
10.... 100
5.... 100
2.... 100
Lack Bteel '23
2 93
Lack Bteel '60
4 79
Lla't A Myers
T Co ,7a
2.... 103H
8.... 105
Lone Isl n fd
0 72
Lorlllard C 7a
2.... 100
3.... 100
Lou A Nash 4a
1 32
1 62
Lou ft Nash 7s
2.... 104
M Kid 4s ota
20 63
MldVe Bteel A
Ordln 6s
1 73
6 75
6 70
Mo K A T 4a
4 62
6 62
6 02
1 112 i
Mo K A T 4
1 45
Mo K A T Ba
3 62
Mo Pao rm 4a
4....
10....
25
10....,
9....
5....
0....
1....
2....
2....
1....
4....
8....
Bt L A B Fran
Strife A
87
B7".
B7
07
B7
57
B7
67 .
57
0
1
20
2
10
14
1
2
16,
Mr I'ao Bs '23
10 01
Mont PoWr As
1 81
0 S4U
New O'e Tex
Ne 4 a
1 78
3 76
3 70
3 78
New O Tex A
Mex 4s
1 63
2 85
N T C A II n
Jl II 4s
0 80
1 SOU
N Y C A II n
n n 6s
l
67
07
07
07
07
07
07
67
67
07
67
A S
34
34
84
54
64
54
64
34
54
54
04 H
54
54
64
54
04
54
54
64
54
04
04
644
0...
0...
1...
8...
1...
1...
2..
IB..
5..
1..
0,.
1.
02
03
02
92
92
92
92
N I O s II It
it n et 7s
o.... ioa
",... 103
10.... 102
l.... ioa
N T Chi A Bt
bouis 4a
8 70
I T9
2 79
N r Chi A St
iouis a 4s
1 A3
N T Connect'
Ji fa
5 79
8 73U
N Tk Llaht II
a I'wr 4s
0 6SU
N V Tele 4s
2..... SO
2 sou
N T Tele's fts
2 90U
New X Vf Oti
uoeton 4H
47K
0 48
a.. . .. 4B
1 48
Nf-k B'n It 8s
3 60
Ore A Cal Its
1..... 83
..,.. 88
6l)
01
01
01
61
01
61
01
Bt LAS Fran
Series B
0 70
0 73
Bt L A S Fran
Series C
1 39
Bt Louis Si Bo
Weet'n crt
1 66
1 !
St Louis A H
Weet'n 1st
1 00i
Bt Louis A S
Weet'n Bs
5 05
2 05
St Paul A K C
Short L 4s
10 08
2 08
2 08
St P'l Minn A
Manlt'a 4s
0 30
1 110
1 90
4... . 89
Beab'd A 1. nl
1 30
1 30
8'n Bell Tf I 3s
2 81
1 81
B'n raclflo fd
1 70
4 70
6 76
8 70
1 73
B'n Pac cv 4e
1 7A
1 78
6 78
3 78
B'n Pao ov Bs
10.... 100
13.... 100
10.... 100
2.... 100
10.... 100
8'n Ilallw's 4s
1 02
2 02
1 02
B'n Ilallw's Aa
3 00
Stat laid 4s
5 80
Third Ave a
1 31
8 81
Tenn Coal I'n
a 11 11 Co oa
1 90
Ten Cop Co Os
5 ... 93
Trl-Clty niy A
Let Co Os
2 01
Union Baa A
Paper Os
8 60
Union Pac ov
10 83
I'mon Pae 4 s
IB 80
V K ot O Urt
A I'd 1921
23 98
1 08
IB 98
a 0n
1 9Re
10 08
U K of a Brt
A I'd 1922
00 OB
2 95
U K of O Brt
A I'd 1920
1 80
4 89
0 80
5 89
40 88
80 88
U K ot O llri
A I'd 1037
8 87
0 87
l..v. 87
U B Mexico 6S
10 41
Ut'd n'ds San
F eqot 4s
10 29
1 20
U a nealty A
impvt Bs
0 82
0 82
U a Itub'r Os
1. ... 77
2 77
6 77
U 8 Rub 7s
1 08
0 98
3 98
41 98
' 1..,.. 98
1....'. 98
1 98
8..v SB
Dank of England minimum discount
rata remains uncluCnged at 7 per cent.
The average price of twenty nctlvo In
dustrial stocks declined 0.89 per cent
yesterday to 94.92, while twenty rail
roads declined 0.63 per cent to 12.83.
The extraordinary statement of Cen
tral Leather, showing- a loss of nearly
$t, 000,000 from operations during the
third quarter, makes clear how strongly
the tide of deflation has been running
to as recent a date as October 1. The
statement of Savage Anns makes tho
same point In a smaller way,
Tho statement of the New York Stock
Exchange for the six months ended
June 30, of Kelly-Sprlngneld Tire shows
net Income after charges, but before
federal taxes, 12,023,104, equal, after
preferred dividends, to 17.43 share on
$3,(83,032 common stock.
Tho New Tork cotton exchong-e mem
bershlp of J. Qlerson has been sold to
Ji K,?w.fttnmey for H8.G00, a decline
of I1G00 In the past month.
Tho New York Subtreasury gained
$179,000 from the banks yesterday, re
ducing the cosh net loss since Friday to
$176,000.
The auditor's report In tho fourth and
flnal account of Frank H. Caven, re
ceiver of tho American Trust Co , will
bo filed In prothonotary'a office of Dau
phin county court on November 4,
Checks covering final dividends to do-
Rosltors will bo mailed In first week ot
rovember and will amount to 8.207' per
cent, making total payments between
71 and 72 per cent.
Domestic bar silver was d lower
in ionaon loaay at oza
DIVIDENDS DECLARED
LehlKh Coal ard Navigation Co..
uar-
to
terlr of 2 per cent, payable November 3
stock of record October 80
uiamonu .nmen jo., quarterly or 2 per
veil., imrmuc urccmuvr ID IO BIOCK OI TCC-
ird November 30
Norfolk and Western nallwar Co . mtii.
terly of 11.73 on common, payable December
id io iiikk til rrcuru fiovemDer 37,
Southern Pltra Line Co., quarterly of 94.
payable December 1 to atock of record No
vember 10.
Llmrett A Myers Tobacco Co., quarterly of
S per cent on common and common "II,"
payable December 1 to stock of record No
tembe 13
Continental Paper and nac Mills, quarterly
of 1 per cent on common and preferred,
rayable November 18 to stcck of record No
vember 8,
B. F. Goodrich Co.. quarterly of 11.60 on
common for laat quarter of 1920 and Hrat
quarter of 1921, piynble, respectively. No
vembnr 13. 1020. and February 13. l2I. to
stockholder of record November 5 and Feb
ruary 5, and quarterly of 11.75 on preferred,
payable January 1 to stockholders of record
Dece-nbir 21.
Tale A Townn Manufacturing; Co., 2 per
rent, payable November 20 to stock ot record
November 10.
Receiver for Baltimore Seed House
Baltimore, Oct 28. J. Bolrfano ft Co..
wholesale and retnll seed growers and
distributors, have absented to proceed
ings In the United States Court adjudg
ing the firm bankrupt and plnclng It In
the hands of receivers. The atorncy for
the firm said the crisis wns due to
shrinkage In value of Its largo stock and
losses In connection with contracts In
Cuba. The assets In lands, machinery
nnd stock In trade alono aro glvon In
tho petition as $1,000,000.
LONDON 8T0CK MARKET
In
Trading Was Dull and Changes
Price Were Narrow
London, Oct. 28 Securities on the
stock exchange today were not affected
Raw Sugar Market Firmer
New York, Oct. 28, Greater activity
accompanied by a firmer tone developed
in tho raw sugar, market today and
spmowhat higher prices wero established.
Sales Included 10.C00 bags Cubas for
Immediate shipment at 714 cents, o. I. f. :
av.uuu wukb rono incog ior prompt
eTtl.. .ttv Iha ivrnlBrrit annntitiMmnt
that n hitch had occurred In tho ncgo- St'" n," Vnt mriiV . ! 1?"" DJr8
K'coaf mterSmcMot?ce 3Z HSlSS KTiH V
SftWSlSf mem'not? 5?Si
vviiioi a a ! iiiu iiinn -riiisj mr anina
tiltv
ment for early next month at 714 cent.
c. I. f. J 40 tons I'erus ccntrlfuirnJa nt
until after noon. Trading was dull and
change In prices were narrow.
The giieago section was naouy anu port at 7U cents, c. I f 'and so T tuna
home rails and Industrials lacked steodl- Antigua Jluscavndoes ln'rVtort at 6.2.5
ness, wiui a a jposition on tne part ot cents, duty paid. All 'tho foregoing
t.nuu.o w " v .v. u. ...v v..w- nuM,i Weill IU loci
men la witn regard to laDor matter,
local refiners, except the
Dollar dcncrlntlons wore well main
tained and the shares of South American
rails wero good In spots. Continental
loans displayed moro stability In sym
pathy with tho movement of tho ex-
ni
600 tons Terus. which wnn taken hv jn
operator. ArrIvals of raw sugar yes-
changes of those countries.
mniiowinir a react on. tnn ona raiuci i tenner v. at liORtnn. is ntw
from the bottom. Shell Transport wao mm 2 per .cent for cash, for shipment
tertloy Included 22,900 bags of Cubns
nnd 405 bags I'erus to tho Warner Co.j
2414 bago Cubas and 3821 bags Argen
tines to the National Co. Tho local te
rmed market Is unchanged. Tho llovere
jiciincry, n,t uoston, is quoting 12 cents,
Today's Range In Liberty Bonds
Liberty .Tis ...
Liberty 1st 4s...
Liberty 2d -it. ,
Mltth
03.00
80.00
88.80
Liberty 1st -iMs. . 89.80
Liberty 'M -iykn
Liberty 3d 4Vin.
88.3S
oo.no
Liberty 4th 4V4s. 88.0S
Vic Notes 3y.s.. 00.14
Vic Notes 4s.. 00.14
(N. T. tlrna)
1U9
P. m.
03.00
80.30
88.00
80.00
88.10
00.40
88.40
00.00
00.04
02.80
80.30
88.00
80.02
88.10
00.32
88.30
00.00
00.00
BAR SILVER
Domestic bar sliver was unchanged
In New Vork todav at 99V4o; foreign
78 Tie, down V4c Io. London, the price
was 62d, off YA.
You Can Buy Stocks
With Intelligence
If you rend Dunham's In
vestment Digest, published
overy fortnight. It ana
lyzes stocks, gives you the
latest news in regard to
thorn, furnishes n resume
of expert opinion that en
ables you to determine tho
trend of stock prices, and
it is free.
Send for your copy,
Aik for 90-K.
DUNHAM & la
43 Exchange Place New York
Wilmington Gas 5s, 1960
Cons. Cities Tr.,St.& Pr. 5s, 1962
Erie & Jersey 6s, 1 955
Genesee River 6s, 1957
Conemaugh Pr. 8s, 1 930
Bell Telephone 7s, 1945
MgCown&Cct
Locust am Land Title BldB.n "
yiu Vorfc Tol. Connection. Canal J84f
Hecker & Co.
Bankers and Broker
Members f Philadelphia nnd New Tork
N. E. COR. OTU ANU CHESTNUT ST8I
Citizens Lt, lit. & Pr., Johnstown,
5s 1934
Empire Gns & Fuel 6s, 192G
Philadelphia Electric Gs, 1922
United Gas Imp. 6s, 1921
BCENNING, GARRISON CO.
STOCK EXCHANGE HUILDINO
Direct I'rlratr Telephone to New 1
.Member rhllu. Htork Exchange
Vork
Inventon Manufacturer!
Have Lost Fortunes
In Msnufactorln Their Products bj
Ant quated. Slow, Hand Processes
Consult us on your manufacturing prob-
. !"!. .Eliminate hand operation.
MAUIINC & TOOL 1K.SIGNIN( nh.
rs
Lorn. 070
... P".',?.r,.,1nd KneJneers
410 Walnut St.. rhlla, llrll. t
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
JKirAlK
id adjust
counts. A
iflso mcAT.
Investlfate an.
rerooratlon afinnnla
Inromn Tax Returns
TntJST 11LDO.
tliLrfnarahlf. .,
Iso prepare D. s.
7ft and Mexican Eajlo 12 3-K. An Im
provement wnn noiou in Kuiura. jiud
Sers wore weaker In sympathy with tho
raw nrtlclo.
Yokohama Silk Exchange Closed
Toklo, Oct 28. (By A. P.) Tho Yo
kohama Bilk Kxchaniro was closed yes
terday when prices dropped below tho
minimum fixed by tho buylns; syndicate.
The officials of tho exchange ore in
consultation with the trovernmont re
garding the situation. The general de
firesslon In tho silk Industry Is contlnu-njr.
Q
The Activity in
Foreign
Internal and External
Bonds
has prompted us to
prepare a circular con
taining much valuable
information, the latest
offerings, and compara
tive table.
Please send for copy.
A. B. Leach & Co., Inc.
ntxjstmenf. Sectiritiee
115 South Fourth St.
Philadelphia
Now York Chlcnso Tluftalo
Clc eland noston Minneapolis
Unltlmore
A
first halt of November,
NEW VORK COPFEE MANKEY,
New Yorlt, Oct 28. llie cnbleV trK 11
n.it -i i .i li, "' - ttf1
juuiii siiuwiui; (icworauixcu coninemew .;
in the coffee markets there led to eow'j
tlnucd llquldAtlon at the openlaf 6 '
the local coffcu futures market" tsVis
morning, first price's being 7 to IB shttn 'i,
net lower. Tho Sautes futures mt
broke badly and Rio exchange on Le
don fluctuated wildly. '
Prices In the locol market mored tif
ularly after the call, December seUiBf
oft to 7.17 and back to 7.22, March up
to 7.01. off to 7.87 and back to 7.00.
Sentiment continued nervous ami
local trader appear to havo little faMb,
in the stability of Urazll. .
December
March ..,
Mar
ia."
Test.
close
7.40041
ft.070fl
S S7HAS
8. 07 O 09
xoaay
open
7.3292S
7.08 i
k 2SQ3S
8.60&05
fN. T. time)
11IB0
HTKAMHIIir KOTlMtfl
STKAMHIIIP yOTKTICe)
cu
M M I N
S
LINES
U. S. Shipping Board Steel Steamer
Regular Freight Service
PHILADELPHIA TO ROTTERDAM AND ANTWERP
SS "Bonnie Brook" Loading
A Steamer Nov. 20
e ROTTERDAM TO PHILADELPHIA
SS "Lake Hurminia" Nov. 5
PHILADELPHIA TO HAMBURG AND BREMEN
SS ".Gateway City" Loading
PHILADELPHIA TO CONSTANTINOPLE AND
BLACK SEA PORTS
A Steamer as sufficient cargo oilers
'or epace and rmtee apply
a A- D. CUMMINS & CO., Inc.
139 South 4th St., PhHa., Pa, H. P. Dilkes. Manaw
Lombard 4tl7-mt..St1ir :: Main
D
START NOW
TO BUILD FOR THE FUTURE
Throueh the Investment ot jour aavtrurs
In hlKh nrsde. dividend paylns securltlee.
under our -O l'nsmrnt Plan. Send for
Ilooklet. and our Market Survey and
Market Opinion.
Make your savlns-a earn the richt Income
Scott & Stump
Investment SecnrUiea
STOCK EXCHANGE nUIUHNQ
Philadelphia, tm.
40 Exehanre Plaee New Tsr
rnafeerllle and Chsmhrr.hnnr. Pa.
Tisit the landmarks of European
History. Ennland. France and Southern Eurove
abound with inte.rtKlina features of an older civiliznttnn
Route your trip "Via Cunard" for an appropriate start and conclusion.
lokuls Philadelphia lo London OctM , ,. ,
Satorua New York" Plymouth, Cberaourf, HimWf Oct. 30 Dec. 9 Jas.ll
l Aquitsnis New York" Cherbourg and Southampton. Nov. 2 Nov. 23 Dtc 14
Norman Monarch .... Philadelphia " Liverpool Nor. S ,
K. A. Victoria New York " Liverpool Dee. 4 Jas.ll
Colombia New York" Naples, Patrai, Dnbrovnik and Trieite Nar.lt
Pannonia New York" Cherbourg and Southampton. .Nor. 11 Dec 9 Jim. 13
tmperator New York" Liverpool Nov. 13
Vaiari Ncf York" Nsplsi, Palrai, Dnbrovnik and Tritit Nor. 17
Illi New York " Londonderrjr and Clairow. . .Nov. 18 Dte. 11 Jaa. IS
Chipana Philadelphia " Liverpool Not. 17 '
Carmsnia New York " Liverpool Nov. 20 Dee. 25 Jaa. 22
Cironia New York" Plymouth and Cherbourg-. .Nov. 25 Jan. 4 Ffc.
vaieoma rtuisdelptua London Nov. 27
Navarinn Philadelphia " Liverpool Dee. 4
Mfiuretanit New York " Cherbourg & Sonlhampton.Mar. 10 Apr. 7
l-assencer anil Frelcht Services. For later sailings apply al
Pssscns-er Office., 1300 Walnut St, Phlla.
Freight Office). Bourse Bids;., Phlla.
George K. Watson & Co.
Certified Public Accountants
Federal Tax Consultants
Real Estate Trust BIdg..
Philadelphia
I Wo&ytik2,7fa4we? ,
EDWINJ.5CHOETTLEC0.
BUBQXESXhltoGltlBBS
33Namirll jireet
Jl-'HllvA..
1
A 1110 it KM OVA I, ,s.li: OF
non.Kit.s
HADIATORS
HTE,M AND
HOT-WATEIl HKATKim
We must make lmmedlatn disposition of
our enormous stock ot notlrrs. nudlutors
Steam and Hot-Wuter Heaters. Ktc. of every
description on account of movlns; from our I
present auarters nory article In stock
(moat of which we recently purchaeed from
the Government Snlvsaa Ilonrtl) has hv n
1im""li". """", "' wn.KO HIM IK nOU
selling below manufacturer's cost. Just
visit to our yards and you will convince
flOIUMiV A FRKKHMAN
210 Ciinul St.. N nrk Cltr
TH lYnnklln 3001 "
The CHARLES T. MEGEE CO,
Agents for U. S. Shipping Board
100 A-l Steamers
Philadelphia to Scandinavian Port
Christiania, Gothenburg, Copenhagen
SS "FORT ARMSTRONG" Loading Oct. 20
SS "ORONOKE" LoadinJ Nov. lt
(Other Scandinavian and Baltic Ports if sufficient -cargo
offers)
Philadelphia to Greek, Adriatic &
Black Sea Ports
Piraeus, Patras, Salonica, Venice and Trieste
ASTEAMER Loading Nov. 10
(For Black Sea Ports if sufficient cargo offers)
Loading Berth: Pier 78, South Wharvas
For Rales and Space Apply to
The CHARLES T. MEGEE CO.
Drexel Building, Philadelphia
Lombard 5100-1S.S Main J0M
!
8TKAM8IIII' NOTirK"
EARN-LINE
Incorporated 18(1
U. S. Shipping Board Steel Steamers
General Cargo
Regular Service
Philadelphia-Manchester
SS "Dei Moinei Bridge".. . Not. 3
Philadelphia Havana
SS "Lake Galcra" Loading
SS "Lake Fernando" Nov. 5
For rates and particulars apply to
Earn-Line Steamship Co.
139 South Fourth St.
PHILADELPHIA, PA.
Robert M. Coyle & Co. "
Wains t
INSURANCE
Sens' for 80 Clause Kxplaaatten.
J, O., Ilobokrn ratrrson fll. Hy.. 4-
Xffi2ST'i!S.nt!!!r?"L' vi'Vi i.W-
rh ladelpbla Utel.rn BV.deT. ,$'i lwo
LeliUh Vlj It. H. Co. Oen.L,.Vs.ii?,s I0M
104B
r-2s
IHSS
1W0
United lias i Kl
HAIIUKI. K. 1
uomuers JTUladelnli'
ovi masni
8trk Kiehaose
OAUtEii.
WE HAVE A SERVICE TO
INDIA about November 25,
either from Baltimore or Phlla.
delphiat also a steamer to Ha
vana from Philadelphia or Balti
more. For rates and particulars
apply to Chaa. Baughan, agent,
118 Drexel Building. Prompt
discharge at Havana guaranteed.
Phone Lombard 6224
r
FRENCH LINE
Compagnie Generate Transatlantique
Innard nnd Ontivnrd Fast Frelrnt fltrnmrra
Regular Service (CARGO ONLY)
PHILADELPHIA to FRENCH-ATLANTIC PORTS
LE HAVRE AND HAMBURG
SS "ONTARIO" substituting SS "NORTHERN" 100 A-l
Loading Oct. 30
LE HAVRE AND BORDEAUX
(and such other French-Atlantic Ports as cargoes offer)
A Steamer NoV 2g
A Steamer 0ec iq
io uoaa rier Ob south
AGENTS NEW YORK OCEANIC COMPANY. INC
io- ituirs ana Hnaee Apolr
GEYELIN & C0MPA' v (inc.) Philacfelphia RepresentatiTw
'oum rourtn street
lomhnril 4?m
Msln Stsj
NAWSCO LINES
Freight Service
Between PHILADELPHIA and LOS ANGELES HARBOR
SAN FRANCISCO, SEATTLE, TACOMA, PORTLAND
West Bound Steamer East Bound
Loading . .Osaqumstck. . .
Nov. It ....Brush Dec. 1
Nov. 20 Articus Dec 15
West Bound Steamer East Bound
R00' n4n----sP.r,nReld.... Jan. 3
Dec 20 LehlKh Jan. 20
Dec. 30 ...West Tor... v.u ,
.. . A .M. J
Portland. HeiUtlo and Tnnnmn
t Doeu not co North of San Francisco
I'ur Hairs, etc., Apply Io s
NORTH ATLANTIC & WESTERN &S. CO.
Affcntu V S Shipping Hoard
13G S. Fourth St., Phlla. Phone Lombard 5504-5 j Main 830
Holland-America
LINE
New York to Rotterdam
Via Plymouth and BouIogne-iur-Mer
RsttertUu Nov. 6jDec 11
noordtm ......,...,. .Nor. 17
Ntw AauUrJtm Nr. 23Dtc. 28
fTvMiun ........,...,,.,.,., ,Dsc I
JTeeemset 0. 1911, Wftlaot St.. nils,
ft Ideal Winter Cruises
SrW S SB I Woof Tr.I IT1J J T..1 I
LI
LARGEST
STEAMERS
TO THE TROPICS
West Indies, Windward Isl
ranamn Canal, South America
ID in zo Ilsra Karli
January. Fehrunry. March. 1921
White Star Lino, S.S. MEQAHTIO
14,878 Tons Nsglstsr 20,470 Tons Olsplsoemsnt
American Line, S.S. NEW YORK and S.S, ST. PAUL
10,200 Tons Register 16,000 Tone Olsplsosmsnt
El Crubci Iron New York, Two from Ntw Cristas
INTERNATIONAL MERCANTILE MARINE COMPANY, ' Ul Welngt Bt..
mrntim.
.Ti
iT.M
9
n
n
ii
rtl
H
t
ti
A
'VI
.
4
y
ft
V.
& jrv.A....