:fe -i .riT 4'i4-aapv' vk,.- Jeter ,- -; EVENING Pf TT.T,tfi f D'RPTTTTiABELP'm''AV FttTt) AY. NOVEMBER 13, 1920 H m'i; j ! . A. v" am A'r, 4 , f - ft'- - ""v . -. - mm -. e. .. - MS-- - -"...- '. . ..... .- - " " - ' - W f WMO IrS i'' NkV' lOYear Secured Notes te Yield 8.60 r A direct obligation of the Pennsylvania Ohie Power and Light Company, te'eured by general mortgage bends in the ratio of 150 of bends te 100 of Notes. Ap plicable earnings five times annual Nete interest require ments. Write for circular Bonbright & Company 437 Chestnut Street Philadelphia New Yerk Chicago Dotten Detroit Moter Stocks We Ihave prepared a 5pecial Letter en the Moter Industry, outlining condition new prevailng, nnd some ether fntcrett ing data, with special ref erence te WILLYS OVERLAND PIERCE-ARROW Write or' Telephone for a Free Copy SMITH, REDPATH & CO. Mrmberg. TltUa. Stock Eicbun 1624 Walnut St. tatiiJiDKLrniA IMtenei Spruce 8880 Bought Sold and Quoted American Tire Cerp. Seaman Oil Invaders OH and Refining of Texas Revere Meters U. S. Metal Cap & Sea! Metropolitan Stores, Cem. and Pfd. Harvey Crude. Oil R. . Seamans, Inc., Cem. and Pfd. Commonwealth Finance Cerp., Cem. and Pfd. Petty Jehn Pure Products H.'F. Wilcox Oil and Ca Quotations Furnished en "Unlisted" Stocks and Bends of All Markets JONES & BAKER Tcl.t Bell, Locust 4730 Misc. Sees. Dept. Tsl.i Keystone, Race 2290 Widcner Bldg., Philadelphia Tax Exempt in Penna. BELL TELEPHONE CO. of PENNA. 25-Year First and Refunding Mortgage 7s Particulars en Application A. B. Leach & Ce., Inc. Investment Securities 115 Seuth Fourth St. Drlt Tt.ltvhene. Lembard 2ST Way Down East Is only one of many successful photoplays produced by that genius of motion pictures:- D. W. Griffith , We offer the Class "A" shares p, the D. V, Qrimth, Int. at SIS per'share. rFrife for particulars Scott & Stump Investment Securities stock r:xni.,iE ntiuiiNa FIIIXAD-LPIIIA it Exchange Place New Serb CeatesTllle, Clinniherbar, Carlisle. viui.jivnnia V Luzerne Ce. Gas & Elec, Gs, 1948 Phila. Sub. Gas & Elec. 5s, 1960 Eastern Penna. Railway 5s, 193G .Wilkes-Barre" Ce. 5a, 19G0 I enn Central Lt. & Pew. 5s, 1950 West Penn Power 5s, 1946 American Pew. & ty. 6s, 2016 BAUER. STARR & CO. Land Ti(le Building, Philadelphia Vete Yerlc Office,, lis Broadway Phlla Sub. Gas & Elec 5s. 1960 Lehigh Power 6a, 1927 Counties Gas & Elec. 5s, 1962 BOENNING, GARRISON & CO. Dlr2?F.5 EXCIIANOH DUIUJINQ DlrsiS"J.t.r:"ehen. i. New Verk -.. mii, meet ciianfe BONO SALESMAN tA ... Swif Jn,dJOH.nr. a sa no; F cat. & Daet0'& Wa8h- l8t 1M3 PH W ft ens' 4s-1948 & Transit 5s, 1957 eon Ce. Deb. 6s, 1929 CHARLES FEARON & CO. jWfUiestnut Street IEE, HIGGINSON & CO. TOM s NEW YORK CHICAGO M M iU I uuii Lil l lull I IliLL FAVOR ED BY MAYOR Agrees te Push Plans for Park way Structure After Con ference With Delegation START. TO BE MADE SOON Plans for a convention hall along the Parkway en Vine street, between I'-lfihteenth and Nineteenth streets, will be furthered by Mayer Moere. He agreed te push plaiiH for the err-c-yen -of a hnll en tlili site ht a con ference yesterday with a delegation, headed by fill Kirk Price, vice presi dent of the. Falrmeunt Park CornraU CernraU CornraU ?'en!,Alba IJ. Jehnsen, president of ,.", Chanber of Commerce, and Kdward Itek. At the request of the donation, the Mayer said he would recall his recom mendation made te city7 Council a month nge te repeal n condemnation erulnnnre. ntut ...,. 1,1 i.n..A rti,.. cs- .I'llr-iter Smyth push the condemnation proceedings and the llllng of a bend by the city se that "at least a start may ue made upon tlie convention hall or memorial "victory hall." The delegation of L citizens unani mously favored the Vine street block as the best site for the hall. It ex tends from Vine te Weed street, and from Eighteenth te Nineteenth Btrcct, facing en Legan Square. It is Just east of n block taken ever as a'slu for the central free library. It Is believed the ground and build ing would ceit the cltv between $1, 000.000 and Sl.S.-iO.OOO. Mr. Moere said he was opposed te a hnll which would accommodate inen than 15.000 persons, en the ground that It would be used but seldom and be cause the maintenance cost between periods of use would be very high. The committee agreed with the Mayer that a smaller hall would be desirable, while the larger structure was likely te be come a "white elephant" en the city's hands. . The Vine street tract was condemned during the closing days of Mayer, Smith's administration, together with a large tract en the south side of the Parkway, west of Twenty-third street, nnd north of Callowhill, and another tract en Vine street, from llensall te the Schuylkill river, which wbh Intended n a site for a powerhouse te serve all of the great' municipal bulldlugH en the Parkway. Mayer Moere has agreed te the taking of ail this ground new, ex cept the river bank Nlte en Vine street. The Vine street tract en Legan Square, erleinally was proposed as a site for a Temple of Justice te house the courts. A convention hall site en the Parkway, west of Twenty-second street, was picked during Mayer Smith's administration, but this gave way te a later suggestion by Mayer Moere that a location be picked en the Parkwn near Sixteenth Btrcct. The original site proposed for the convention hall was In Snyder's weeds in Falrmeunt Park, and $200,000 was paid for the planning of a fine structure years ero. The In accessibility of the location resulted in abandonment of the plan and th im provement was postponed from year te year because of the disputes ever lo cation. 'CRANK'S' TRIAL NEXT-WEEK Police Drag Schuylkill for Evidence I of Coughlin Baby's Death ' The, trial of Auguste Pasquale,. the r"rank. for the murder of Tllakcly feuchlln, will begin next Wednesday. J. Aubrey Andersen appointed by the J eeiirt te defend him. nald yesterday he would he rcadv for trial that day. and the district attorney is eager te begin I the trial at that time. I A policeman In hip beets yesterday ' dredged the Schuylkill river in the vi cinity of the Ivy rock steel plant in an effort te dig up mere evidence for the trial. Although the state police have withdrawn from the investigation, lt is I understood that the defense will make i every effort te find something mere definite about tuc tnspesni or me ueuy. Pasquale was taken from the jail te accompany James Crcsseu, a civil en gineer of Norristown, while he made measurements of distances from the Coughlin home en Curren terrace te the Schuylkill river where he said be threw the body of the baby after tying it te a piece of iron. KlljROE 13 INDICTED- A New "Yerk Prosecutor and Twe Others Charged With Conspiracy i New Yerk, Nev. 12. Edwin V. Kll Kll ree, assistant district attorney of New Yerk county, Leuis F. Swarts, his for mer business partner, and a third man, whose name was net disclosed, were charged with compounding a felony and with conspiracy, in indictments filed here last night by the extraordinary Grand Jury which has been investi gating the district attorney's office. Pleas of net guilty were entered by 'Mr. Kilroe and Mr. Swarts and ten-duy I stay were granted them In Which te make any legal motions desired. The I third defendant was net in court. i The indictments grew out of alleged failure te prosecute a complaint said te have been made by Hclene Montrese Heurasha ngnlnit her nusuand, aapoicen A. ISeurassa, charging him with big amy. CLUE IN WATERS MURDER Police Obtain Description of Man Treated at Hospital New Yerk, Nev. 12. Police investi gating the murder of Leeds Vaughn Waters, wealthy New erlc and Londen clubmnn, beaten te death In a hotel here November 4, began a search for a mau who Ilellevue Hospital physicians re ported called at the hospital for medical treatment a few hours after the murder. Ills description, according te physicians, tallied closely with that of the man who accompanied Waters te the hotel. The man's injuries, physicians said consisted of bruises about the body Their appearance Indicated, the doctors declared, that the man was partialb or entirely undressed when he received them. He were no underclothing when treated at the hospital, and police, nt tached Importance te that owing te the discover' of a suit of underclethlnv bearing the Initials "W. II. A." lu tin hotel room after the murder. The man left the hospital the following after coon. BRITISH KEEP PAPAL ENVOY Premier Tells Commens Government Will Continue Vatican Relations Londen, Nev. 12. The government after full and careful consideration, has decided that it is desirable in the pub lie interests te continue the representa tion of Great Britain at the Vatican, according te an announcement by Pre mier Lloyd Geerge, in the Commens yea tcrday In answer te querljns, The premier added that this repre sentation, which had been In existence ,1,. flr.f venr nt the war. bad been nt- nAvA with beneficial results, . The announcement was greeted with cheer- Commodity Markets COTTON MARKET New Yerk, Nev. 12. A renewal of the selling movement in cotton was noted this morning and, after yester day's reduction In the short account, there was little demand te absorb the pressure from Liverpool and spot house Interests, under which prices dropped 20 te 47 points en first sales. A very cold weather map exerted little Influence, probably because of re ports that the spot basis in the Seuth Atlantic states was easier again, Following the start, there was some scattered room covering, which gradu ally took up the supply and held the lint fairly steady at about 00 points under last night's clett. Receipts of cotton nt the ports for the day are estimated at 40,000 bales, against 2.",010 bales n week nge: riH.440 bales a year age and 25,227 bales two years age. Tent. , .. ClOI Dowmber lw.ie January js.7 Jfnrch 18.48 May IS, ,12 July ig.ea 10:80 n. m. 18.KD IB. an 1A.M 18.0D 1T.7S Own 18.7R IS. 30 IK. OS 17.ne 17.70 GRAIN MARKET Chicago, Nev. 12. Under general selling by commission houses the wheat market lest further ground today. Pressure was centered against March, which fell te new low levels for the season. Support was lacking, fiarly cables received by exporters sold that the Ilrltlsh commission would net be In the market again this week aud inti mated that they would net pay ever 100s per quarter, or 12s shilling 'ess than they paid en Wednesday. December opened at $1.70 te $l.78t, against $1.804 nt the end yesterday, and later sold nt $1.77Vi. March ranged from $1.72 te $1.71 nt the out set, ngalnst $1.744 at the close yes lerday. Cern was weaker under selllnir hv commission houses. The principal buy ing was by shorts. December opened at 75740 te 7fiUc, ngalnst 7(l'c nt the close yesterday. May sturted at 80',ic te 70e. cbm- pnreu wuii kic, yesterday's last price: Tnly was quoted at 81c te SQVuc at the outset, against 82'4c at the end yester day. Oats were easier, with selllnir general and support peer. Jjccember opened nt tnyjc te 4S"ir. against 48 c at the end vesterdav. May started at C4c te 53c, against 04Vic at the end yesterday. I'.ariy extimntcs were for fifteen cars of wheat, thirty-five cars of corn and fifty-five cars -of gats. Chile Provides for Fiscal Expenses Santiage, Chile, Nev. 12. A bill nil nil therlzlns; the lssunnce of 30.000.000 pesos for fiscal expenses was approved In the Chamber of Deputies hrm tnrlnv The notes will bear annual Interest of net mere than eight per cent nnd will be rcdeomnble In five years, 15 per cent of Chile's Impert duties being set nslde for that purpese, beginning Julv 1, 1921. Retirement of elrculatln? note's renreBcntlnir advances made te nlirnm producers by the government Is also urectcd nv tne dui. as inese nuvances arc repaid. In addition, the measure, "hleh has already passed the senate. provides the president of the Republic may. within a year, open a credit et 20,000,000 pesos with local banks, this sum being redeemable from Impert duties. It is expected the counsel of state will approve the hill tomorrow. FIGHT ELECTRIC RATES Several Reading Firms Engage In Drive Against Company Rendlne. Pa.. Nev. 12. The cxecu tive committee of the newly formed league te enforce lower electricity rntcs. a business men's association organized te eemhnt advances by nubile service corporations, yesterday madt public the fact that It has, raised $23,000 te fight higher rates newly imposed nj the Met ropolitan Edisen Ce. Charles W. Hoever, of tie Iteadlng Brewing Ce., is treasurer. The list of corporations engaged In the drive before the l'ubllc service uom uem uom missien include the Carpenter nnd Rcthlehem Steel. Heading Steel Casting. Rirdsbore Steel. Parish Manufacturing nnd Lebanon Valley Iren Ces. Luria Bres, and Dives, Pomeroy & Stewart, department sibrC owners. Governer Sproul Is one of the large owners of the T.ehnnen Vnllev Iren Ce. The Metropolitan Ce.. after a seriea of rate raises for all large power and light consumers, has lust announced a .10 per cent penalty en all direct current consumers. The cempuny prefers te have its customers use alternating cur rent, but the cost of installing new metqra is se high that direct current patrons resisted the change. "BABE" RUTH SEEKS $35,000 Counsel Files Petition in Bankruptcy Against Photo Corporation New Yerk, Nev. 12. An involuntary bankruptcy petition against the Yankee Photo Corporation was filed yesterday In the United States District Court by David W. Kahn. as attorney for Geerge H. ("Babe") Ruth, champion home run hitter, and the Biegraph Ce. Huth claims $35,000 for services rendered te the Yankee Photo Corporation pursuant te a contract made in July of this year. The Biegraph Ce. has a claim of $1002 for rental of its studio te the corporation. Offices of the alleged bankrupt are at 1470 Broadway. Total liabilities nnd assets of the corporation are net stated.. Farmer Convicted of Murder Lynden, Kan., Nev. 12. (By A. P.) Bufe King en trial here charged with the murder of Jehn Weedy, who dis appeared while in King's employ, nt Maple Hill, Kan.. In 1000. was con victed bv a jury late yesterday of mur der in the first degree. King was ar rested following the unearthing of three skeletons In the barnyard of property formerly owned by him. Lew Neptune Beester Te increase the pressure System we have a spe cial Beester Sys Fer tem designed te raise water where the present pressure is lnsuihcient. We fully guarantee any system designed by us. Write for details today. 44-50 N. 5th St 506 1 645 N. American St, Phila., Pa. Camden, N. J. Lansdowne, Pa. HEAD OF U. S. BANK AND BUILDERS TALK Committeo of Operative Asso ciation Asks Norrle te Faver Heusing Beem WOULD START NEXT YEAR Following a conference between Geerge W. Nerrls, governor of the Fed eral Reserve. Hank, and a committee from the Operative Builders Associa tion, plans were made for a dwelling house boom for next year. State Incntn regarding the conference will be issued today by Mr. Nerrls and Daniel J. Crawford, Jr., representing the builders. The committee questioned Mr. Norris, it is said, en statements he was re ported te have made recently, that lt would be unwise te launch a building boom new, because he net only be-, llevrd that n drop In the nrlce of all building matcrla's would affect ad versely the market for new homes, but people who came here during the war were going te leave the city. Neither Mr. Norris nor Mr. Crawford would comment en this last night. The builders also arc reported te have asked Mr. Nerrls te make knewu his position with regard te the pro posed abolition of the usury law Mn this state, which prohibits the charging of mere than 0 per cent Interest en leans. The builders are Interested in this preposition, as they held that an? Incrrnsc in the rate of interest would seriously affect mortgages and building leans nnd add te the already great burdens of home owners and home buy ers. Faver City Experiment The Idea that Philadelphia should launch a municipal housing experiment next year und fellow the example set by many European cities, ,1s being strongly advanced by several groups In cluding the Philadelphia health council and tuberculosis committee. Dr. C. Lincoln Furbush, director of the De partment of Health, and members of his ndvlsery committee en housing are close'y Interested In this problem from a different 'angle and the possibility Is being considered of interesting a num her of wealthv men. -who have been devoting themselves te philanthropic work. XIIse Evelvn M. Carnentcr. who Is in charge of Industrial work for the Philadelphia Health Council, believes that the city Bheuld make an appro priation and establish a housing ex periment if for no ether purpose than te set the pace in building for next yenr. The "Venice idea" should be adopted here, as lt has had singular success In Italy from the viewpoint of sanita tien, disease prevention aud social up lift, she said. Venice Idea Suggested "Philadelphia would de well te in vestigate the Venice idea, which has brought health and happiness te hun dreds of workmen In that historic city, and has aided in giving Venice a re markably low death rate from tuber culosis. The details of the Venice Idea were clven me by Miss Aneta Centl, who is at present engaged in Amerl-' conizatien work in tins city. "The city of Venice hqs built a model settlement for the accommodation of some 500 families. The houses In this settlement are owned and maintained bx the . city at very- low rentals. Families can live in these homes just se long as thev live up te the require ments. These requirements denl mostly with a very exacting cede of sanita tion. Occupants must keep thcii houses scrupulously clean, nnd Inspectors make frequent visits te see that the rules arc i observed. Families who de net live up te the regulations are ordered te va cate. The settlement has been the means of raising the living standards of workmen in Venice." ATTACKS A. F. L CAMPAIGN Manufacturer Says Public Generally Favers Open Shep New Yerk. Nev. 12. "If the Ameri can Federation of Laber Is raising $20,000,000 te fight the adoption of the open shop throughout the country, then lt stands sclf-cenvlcted of Sponsoring nnd perpetuating the very system that the Leck weed investigating committee Is revealing every day It is sitting. Hew long will the American public stand for that?" J. P. Bird, general manager of the National Association of Manufacturers, ' made that charge here In discussing the assertions made by leaders of the American Federation et Laber that em ployers are engaged in n conspiracy te put the country en an open shop bnsis and reduce wages, and the published, opinion of Ernest Behm, corresponding secretary of the Central Federated Union of New Yerk, that the executive council of the American Federation of . Laber would ask the 4,000,000 union members for n defense fund of $20, 000.000. "If the American pblle did net want the open shop and fair dealings in all the industries of the country, their popular approval of the attitude of the i federation weui'l make lt absolutely unnecessary for the federation te spend he said. II ;-iib( Oyster Dredger Drowned Mlllvtlle, N. J., Nev. 12. While dredging for oysters In the Maurice river cove, Luther Newton, of Pert Nor Ner rls, fell overboard and was drowned, Ills body has net been recovered. Are Yeu Troubled With Water Pressure Neptune Beester Systems are de signed te fill your needs. By furnishing high water pressure at a low cost, and in giving cfhcient and economical service. Our service includes designing te meet your require ments. Office buildings, apart ments and even private houses often require a City Beester System Buildings Arch St. "S I ' CLOTHING TRADE SLOW Buyers Helding Off In Anticipation of Lewer Prices Later Cleak ahd milt manufacturer nre doing little, according te the weekly re view of trade for the Philadelphia dis trict by R. O, Dun & Ce. nuyers are holding oft In anticipation of a decided drop In prices later, Trade In IreMei continues qulet. Purchases are made for Immediate Uses with the buyer making the 'oflert te get the goods at his own price. Manufacturers et shirt waists say trade continues quljt. There Is soma de mand for the better class of merchan dise, the buyer, hewnver, Is net dis posed te place any advanced orders, buying for Immediate needs only. Men's and beya' clothing manufactur ers find llttle change In business. Buyers are net dlrpesad te pay prevailing prices, consequently saics are small, The review, continuing, gees en te say: "The doctrinal trade reports nn Im provement In gencrnl business nnd a large demand for alt classes of Reeds. Prices thew n downward tendency though fairly steady at present. House hold specialties are selling freely and holiday novelties are coming. Inte the market In large rumbcrs with a geed demand already noted. "The stove trade Is active en stnple goods. Foundries are operating at about rapacity, ftupplemrnlnl heating appara tus Is nlse moving freely. Trices are firm and collections show an Improvement. "The leather market continues dull and only a small volume of business Is reported. Oazed kid manufacturers and dealers are conducting buslnes en con servative lines and production Is at a minimum, Shee dealers report a small demand nnl collections slew '"Millinery dealers are doing a moder ate business. Weather conditions are laid te have affected sales te some ex tent. "The local lumber market continues quiet, thcre bslnp no. demand of mo me mo ment. Prices remain about the same, chewlng a downward trend. The car supply Is Improving. "The local bituminous coal matket Is quiet, tl.ore being little dm and owing tt lack of Industrial nctlvlty. Prices have trjicn a considerable drop within the last week. The car supply is im proving. "The local niithrsclte market Is net very active, although there hes beer, a fnlr demand. Prices remain nbeut the same. "Whntesnle grccers repert business fnlr. Purchases are en hand-te-mouth order. The tendency Is towards lower prices . . . . "Coffee le quiet and unchanged. Cost nnd freight offers nre Irregular. Tea Is dull nnd with llttle trading, especially In Indlas and Ceylon Curtailment In output Is contemplated. "Sugar shows no chrnge. Demand Is moderate, with further reductions In slghti Retailers nre selling en the basis of cloven cents a pound." POLITICAL LEAGUE FORMED Promoters 8ay Object Is te Give Un biased Information The Political Education League was formed 'aBt night at the permanent headquarters of the society, et i:ii ."sertn Tbirt -fourth street. Addresses wecr made bv Harry S. Jeffreys, L. C. Pierre and James C. Casey, who wah appointed permanent chairman of the organization. The speakers cmnhasl7ed that the ob eb Ject of the league is te give unbiased' information en local and national ques tions, political and economic. Berlin Electrical 8trlke Ends Berlin, Nev. 12. The electrical workers, who have been en strike, re turned yesterday. The burgomaster ha'd previously Issued an ultimatum te the strikers threatening dismissal unless they returned. A ballet thereupon was taken nnd a majority voted for resumption. Canadian Balances k31IUUlil M5 Many American banks and institutions have bal-P-,-k-f Jf K-- anccs lying in Canadian banks, which they de rWAIiaUiy net vmhte transfer te the United States owing te 1 4 1 lc e-i3l'nS rate of exchange. inveSieU Fer the prefitaDie employment of these funds, we " recemmend Dominion of Canada Internal 5 Victory Bends, which can be bought at the following prices: Fer payment in Canadian Funds Maturity Price Yield 1st December 1922 98 6.55 1st November 1923 98 6.24 1st November 1924 97 6.32 Canada and the United States are lands of oppor tunity, achievement and prosperity. Each is te theether a prized customer a friendly and highly desirable business associate. Investors in the United States who buy bends of the Government of the Dominion of Canada, have as security the pledge and faith of a people with a world wide reputation for making geed their obligations. Following are prices: Full particulars of all issues will gladly be furnished upon request. Weed, Gundy & Company Terente Montreal Winnipeg Seuthwark National Bank 610 SOUTH SECOND STREET PHILADELPHIA At Clese of Business November 9, 1920 RESOURCES Loens and Investments. .. .$7,216,101.85 United States Liberty and Victory Lean Bends .... 943,750.00 U. S. Bends te Secure Cir culation 250,000.00 Banking Heuse 53,900.00 Due from Banks 760,950.71 Cash and Reserve Funds. . . 1,418,624.27 GOSSIP OF THE STREET One of the large bend houses, in re viewing the Investment situation, asserts that the list of bends selling et prices te yield 10 per cent and ever is Bteadlly growing smaller, us the recent change In the trend of long-term bend prices has carried quotations en many issues te prices where they new longer yield 10 per cent en their purchase price. Previous te 1014 It was rare te find a bend selling en a yield basis et 0 per cent or ever. In the pre-war period, when bends sold en the basis of 0 per cent or ever, such bends were looked UDOn with eves nt susnleten bv invest ors, as the high -income yield, in nearly every InBtnncn. Indicated some condition with the Issuing corporation made the bend unsafe and such a security as the investor would hesitate te purchase. Investment Standards Changed Investment Standards have 'changed since 1014. The tremendous increase In the cost of all commodities and the drastic decline in the purchasing power of all moneys, including these of the United States, have resulted in advanc ing the Income yield en fixed income bearing securities te a point where yields of 0 and 10 per cent were net uncommon and where there is no cause for suspicion of the solvency of the issuing corporation. When the dollar purchased a bushel of wheat or four pounds of meat, It wnj perfectly normal for geed bends te sell en a 5 per cent basis, but when the time came that the dollar would net purchase a half-bushel of wheat, or two pounds of meat, It was no mere abnor mal for these same bends te sell en an 8 or 0 per cent Income basis The dol lar Is the yardstick by which we meas ure the cost of commodities, and the dollar is no less a yardstick by which can be measured the Income yield of se curities. After six years of stress and strain of war and partial rcadjutments following war, this country, as well as the world, Is gradually getting bnck toward mere normal conditions. Gradually, but surely, commodity prices are declining, and, slowly but certainly, the purchas ing power of the dollar Is growing. The best-Informed bankers believe that a period of cheap money Is coming, al though It may be some time before any thing like normal money rates arc in sight. Cheap money and lower com medity prices mean higher fixed income-bearing security prices. Leng- term bends, of course, are the first te feel the effects of changing financial conditions In the price quotations, but gradually these changing conditions will be reflected in prices of all scucritics purchased mere for income than for speculative purposes. Short-Te1"-! Nete Is Passing The day of the Issue of the short-term j corporation note is passing and that , of the issue and sale at satisfactory prices et long-term bends Is again , dawning. The man who buys Income bearing securities at the prices of today will have no reason te regret his fore sight ever the next few years. Com modity prices arc declining, the pur chasing power of the dollar is increas ing, and coupled with these factors is tli at of advancing Income-bearing se curlty quotations. A period Such a this is the time te buy income securl ties : the time te sell them is when com A nerled Auch , , modify prices arc advancing nnd the Fer payment in American Funds Maturity Price YltM 1st December 1922 08g 11.70 1st November 1923 88 9.90 1st November 1924 88 9.15 (Yield en American prices based Incorporated 14 Wall Street, New Yerk Telephene: Recter 7848 CONDENSED STATEMENT OP THE LIABILITIES Capital $250,000.00 Surplus and Profits 439,9 1 6.42 Circulation 245,650.00 Dividends Unpaid 1,504.00 Deposits '. 9,706,256.41 Borrowed Meney Nene $10,643,326.83 WIUIAM W. FOULKROD, JR., President purchasing power of the dollar is! de creasing. Freight Trnln Mile Cost The average Cost of running a freight train one mile, as Indicated by a com parison of the principal items of cxponse selected by the Interstate Commerce Commmlssien for statistical purposes, was 2.1.2 per cent greater In July this yenr than In July. 1010. The total of the selected ncreunts was $1.80 per mile this year and $1.54 last year, an In crease of thirty-five cents. In Jan uary the cost was $1.85 and In Feb ruary, the last month of government operation of the railroads, It was $1.01, hnwlnv flint th Increase occurred be fore the return of the railroads and that there has been a small decrease "laee. ., .. ., In March, the first month after the return of the reads te private manage ment, the cost was $1.70: In April It was $1.87 J In May, $1.78; in June, $1.87, nnd In July, $1.89. Our Czecho-Slovakia Trade The Ciecho-Slevak ministry of com merce hes Just made public figures showing the trade of the Republic with the United States for July, 1020, and for the first seven months of the rear. The experts te the United States ter the month of July amounted te $2,202, fifir nnd the Imports from the United States for the month were valued at $201,007. The experts for the first (even months of the year aggregated S ani.mR nnd the imports S0.12.475. The largest Items in the July experts were ns roiiews: unDienz goeus, .-swi.-020; sugars $442.200 ; toys. $10,000; nnd Imitation and synthetic pcnrls, S123.778. Among the Imports lard, valued at 0.1.401. nnd cotton, valued at $50,078. renstitutcd the principal items. Tiie 'rraaer. Hew Are Your Bends Rated ? Meedy's R'ATING BOOKS Will Gire the Answer. Ask your Bank or Banker, or write Meedy's Investors Service 1124 Real Estate Trust Dldg,, Phlla., Pa. New Yerk Bosten Chic-no TRADERS INBUHED MAIIKKT TRANSACTIONS Htuhly prentntils prejret rmulrrs $3000 up te flnnc pirtnnrehlp; operations In New Yerk Stock Rxchanee Securities only; market action consistently forecast; transactions Insured and carrl-d without cash margins Interview me without obligation. IIOX A 117. LEDOKll OFFICE. GEO. A. HUHN & SONS RTOrKU vn TtnvriR Members of the Philadelphia, New Yerk and Chlcsre Pterk Exchanges New Yerk Cotten Rxrhanare Commission Orders Executed In All the Principal Markets UEIXKVCB COURT BLOO. 141S Walnut Nt. NEW YORK OFFICE 111 llreadwar. New Yerk Stenographers in New Yerk Bank xeallent oDDertunltr la lam dnimtn bank for capable, experienced stenesraphers "19 r.MP""V". : etueni wern: rur conditions. Ooed salary anil lnnchea. State an. education. exnartenM and salsry expected. Write E. V. C. BOOM 701 IP Wt 4th St.. New Yerk City en par of exchange) Saskatoon New Yerk Londen, Eng. $10,643,326.83 A Definite Program 'MP Buying Securities Many investors fall te make their money work te the best advantage Bimply because they give tee little thought and time te the sub ject of hew they can benefit through the use of the money they put aside. A wise selection of in vestment securities in the majority of cases necessitates a carefully prepared plan for sav ing and investing. j It would be a pleasure for us te work out a v definite plan for any ( investor te fellow. Hemphill, Noyes f25 Ca Members Nw Yerk Stock Exchmnf Franklin Bk. Bldg., Philadelphia JJew Yerk Bosten' Scranton Buffalo Albany Syracuse BtlttiMM An Assured income of 1 We can offer long term first lien bend tax free In Pennsylvania te net 7 Interest earned ever three timet. Baker, Ayling & YeuBf JOS-TII W. BWADf. Jr.. M-daaw Land Title Building Bosten Philadelphia Moere, Leenard & Lynch Cushman Newhnll, Manager D'end Department Beard Roem H'.'U Walnut Street Rltz-Carlten Hetel PHILADELPHIA FINANCIAL prrTKinmeii. younestown ant A8IITAI1UI.A RAILROAD COMPANY Sealed propeeuls will be received at the offlce of The Farmern' Lean and Trust Cam. panr, Ne. 18-28 William street. New Yerk. N. Y.. up te 12 o'clock neon, en No-neber IS, 1010, for the eate te the trustee of the PITTSnimOH. YOfNOHTOWN AND AHH TAHi:i.A RAILROAD COMPANY. fV-.ll- i dated Mertsace 0 IJends te the extsnt of I1S.S80, for the Sinking- Fund under the terms of Article Third nf the Mortgage - i that Company te the Farmers' eun Bnd Trust Company, dated November 1. 18JT. I which provides that the trustee may rUr- 1 chaee bends for the Sinking- Fund at at pricR nui iu rrw f r am. interest. THE FARMERS' LOAN AND TRUST COM PANY Trustee. "" Dy EDWIN 8. MARSTON. President. New Tork. November 1. 1920. " . r-CAri0hU. CONSOLIDATED COLUflliES COMPANY, INCORPORATED nttyYcar Five Per Cent. OeU Beafe'V Dae Jaly 1. list Netice Is hereby given, pursuaat U tfca terms of the Mortgage dated July 1st. INT. that ths undersigned, as Trustee, will re ceive sealed proposals up te SsOO P. it., an tbs Sib day of December. lOte. for the aai te If of bends as above described, rafflelaat te use tbs sum et 148.516.77, The rater signed reserve the right te reject any or all w THR NEW TOnK TR TT8T COHPAHT. Trustee, Ry n. a, CVRTtS. Secretary. v, -ou ectM.-- si inae Special Mrrtlnga OFFICE OF - riKNRY DIXSTON St HONS. INC. Tareny. Phlla.. November 12. 1920. NOTICE IS HCRKDY OIVEN that by a resolution of the Heard of Directors a pe rlal meeting- of the stockholders of Ilenrr DUoten A Rens, Incorporated, will be held en , Monday. January 17. 1021, at 11 e'eleek n m.. at the office of the company. Taoeny. Philadelphia. Ta., te take action en appreral or dlnappreval and te ete for or aa-alnst the Increase of tve Capital Stock of the company from IS.8.10.00O te 1B.000.000. lly order of the Dnard of Directors. E. R ROnKRTH Secretary. Annual Meetings WEST END TRUST COMPANY Philadelphia, November 8th. 120 ITtE ANNUAL MEETING OF THE STOCK. holders, of the West End Trust CempaSj will be held at the office of the Company, Hread fit. nnd Smith Penn Square. Monday! Nerember 18th. 1020. at 12 o'clock noeit " t i'hmii r.-. r. tM(iii.nr. neeretary. ! ANNUAL MEKTINO Ot STOCni!OMEa of the Excelsior Oil Company, will be held ' nt 008 Chestnut street. Roem 007, en Tees. day. November llli. 1020, at 10 o'clecl. ' " E. D ACKr.ET. Secretary. Dividend THE ATI-VNTIC REFININO COMPANY 1111 1'tsyunk ave Philadelphia, Pa. November 11. 1020. At a meeting of the Reard of Director i held November 10, 1020, a dlvld-nd of $5.00 per share was declared en the Common Stock of the company, payable Drcmnber 15, IMe te stockholders at the close of buelneas November 22. 1020. Checks will be mailed. W D ANDERHON. SecretaryT ' Hew Te Trade In The Market and ether rules and methods of interest te traders are given in our free booklet, "The Investment and Traders Guide." It tells: The General Rules of Trading. Hew te Give a Breker Instructions. Breker's Commission Charges. Hew te Indorse a Stock Certificate. Hew te Use Collateral In Trading. Hew te Greup Invest ments. The Deposit Require ments for Carrying Stocks en Account The Rights of Stock and Bend Helders, etc Call, 'phone or write at once Ask for Ne. T. U.-992 JONES & BAKER Specialists In New Yerk Curb Market Securities' WidencrBIdff.,PhiIadeJphia Phenes, Bell, Locust 4730 Keystone, Race 2290 Ofllces in 8 Principal Cities Direct Private Wirps m i v. m m n n ite 4 JM n M W m ". s' Li a 4 N eflcli sun i n. r as 31 ,I-'- m-m-- ..--- :'--rc-. inrw 1 ffetU .ivn? X.;,,e,l,:Li y ;Vlv. mmn 2Zs (.1 . ---'--""-- " t am ,,,. t , .-. -J-li-i-i--i-M-M-K-
Significant historical Pennsylvania newspapers