'ifftt'v -Wfrf'!-'-
,,-j,. flpv-Y.,.
tA
. . .. .U -Jt'i. ..... IJ -'PPmHBaiMr'
' 7
I
1G
EVENING PUBLIC LEDGER PHEJADELPfiLA:, TtlESDAY, DECEMBER 28, 1920
B
If'
I PRICE MOVEMENTS
iSsSk WERE CONFLICTING
if CAPITAL $ 500,000.0O
&1 5UKr'LU5 (EARNER tJ
II $2f 00(000.00 Jl
VtSlxth&SpringGardeZr
VfiKsPHIlADElPHUW?
I
I
I NEW YORK STOCK EXCHANGE TRANSACTIONS
Have You Made
Your Will ?
During your Htctimc you may
Jo what you wish with your prop
erty; afterwards it becomes a
trust fund for the support of
your family.
This can be assured by
A Will Carefully Planned
A Will Clearly Written
A Will Correctly Drawn
This (.ompanv performs all the j
functions required by Law in the J
care, liquidation and distribution j
of crtates, and a competent,
capable, courteous corps of
officials is always
AT YOUR SERVICE
ff
January
Investments
We have -veett'd cer
tain securities that we
believe are particularly
attractive for the in
estment of January
fund?. We shall be
glad to o Ter our rec
ommendations or con
sult with you regarding
any investments you
contemplate making.
Ll-t D-1 ' is e ; ks'
(gHANDLE?& Company
MIIMMI
Frnnlclin Bank Bldg.
Philadelphia
New H.n f n Jlus-toti
New Bottoms for a Number of
Industrials, but Rails
Held Well
New York. Dor "S. Thoro fli
rim h the i-mic poiitllctliiK nnd ptt.v
n ni.ininti in toil'i. 's stuck nuirKi't n
liiniknl jpstiTdiiy'l prrx't'odimcP. Onu'
nciuti tlii line nf cU'iivukc botwovn tin1
riiW iiml iti(lntriiiN wm di'tluiti-h
drawn. Tin- railroad hi'Iil their ground
ui'll but with tlio I'M-option of Unidiiu
in ! littli- liinduio. On the otlti-l
liiinii. soft stints (roniicil out neain in nil
purN of tin imliitti till lit. Tlio iclllriK
liion'ini'iil. linvu'M'i, was ui.irc of spnr
ndli' i hnnii tt-t nnd n t if tin1 itiiUtont
iiHturi' a it inpd in lii-t mwIv'v slump
Otn-i" Hum on rmfelit ili M'lvpini lit"
w.-ti iwlhmit inipurtiituo. 'I lie trpoitcl
ruUinc niir if t'n In re blm k of K
I'louli- fii U .! 'iM'Ui'il upmi us ili'iir
inii up iiii'itlit'r iin'iiiti iiik I'li'tui nt nnd
the tnkuiK enrr of nnothiT of tin- niniiiT
mm limn- tin. k 111 o far in iirtunl
'lieu- im pom prtn'il tliprn nn- nothiiiK
to iiff'M t tlio lnarkut I'itlier wn.-.
I 1 1 it" ptnTiil i limtirtoi iHtti tin
ii'i'kit "'iowpiI nil tin' piiimurk" of n
I I ..ill i nituMi of tin1 iiiljiistnipnt" of tin
..r i n.l "PttlpniPiitH, tax silniitf. ilr.iti-
niit u,i if "1 ll.it iv hi i mint" Mini
pri'pnr i'i .ii" tor tin l.uip .liiiumv d
Ihii'.i in.'iit" Aiiordms to tho -trc('t
ii port". - iurt 1iup iri bi'intf .".ti ndi'd.
Imt tin1' ii" nl"" "till i oti-idi'r.iMi
inn', p in virv iln "I'llitn; ltithn uppiI
i. t',. .t ! " ot III sltll itnm
T'ip i it kit ho til no i ry definite
tit ml at t oppnim:. but bopaim un-s.-tt
ml t' in tin' tint hinf limir. I'm
pibln St ,1 nnd Atlantic Itiilf, nt dp
clii i " if 1U n'11' -'j pi'int". rpsppi'
tivilv. vip nt lovvpsf (iiotiitions of tin
vimr tins iilvi vhtp Iipiivj, Mtxioiin
I'i troli ii i. Ii si'ic - I'liit". nnd l'.in
Ann rn nn I'i trolpiini 1 point. I'nuip-nu-nts)
m.d sn ( N f 1 1 b.n k. Intornntioiml
Ilnrvtstpr f ifpitini; - points. Ann
pondn t'oppir. on wlinh dividind notion
i" to lip tiikui t il.iv i'i piiod ir.u hnngiM.
but Ami I H an Sim 'tiiii. odp of vrstrr
dnv's wouki'-t f'lit.iro", lonlinui'd it
dc lint.
Tlip pnrlv brniu ixvndod to various
unit" of tin- list i i,t.n lull", vvlipre
ulilitiotis to vi "ti'i'kn s rallv nri' Ifil
Iv Kph iin;;. t"hp"iii" .i' and t Min, New
.i,l ' titrnl mill t'ii ll.irriiniiii and
Hill i-mii's. Kuiilvvin I.ni'ii'iiutivp, the
I'lti'li mis nnd M-v ml f tie fo .d and
tub:i io hnrps nlo vnre iMinpt fiom
ir -snri' Cnieiblp and Atluntn' Oulf
rul'iisl ft oni their initiiil din-ion. but
failed to hold. Aiiinnii'i Uool..i. In
'lustnai AN oliol. Fuiiim.- l'.ivir-. and
Ainirn.in Writing I'um int'im-l.
eotnpri-od tlio wiakir spei i utirs, and
uppers lot further itruunii
LOCAL TR4DLG
WAS COLORLESS
Si'llinf: for Establishing Tax
Lueses Showed Signs of
Slackening
American fias 7s 1'jJ.
Eastirn I't-nna. Kv. "in. 19)0
Empirp Kffinins . 1027
Erie LiKhting js. 1 17
(Jeorffia Kv. tv. Ek-c. .X I01U
fteori;ia Kv. & Powor "is, VJ34
Lehitth Power Securities fis, 1927
Midland allf.v K. Ii. 5s, 1913
Penn. Central I.t. &. Pow. js. 1930
HarniburK 1-t. i. Pow. .'). UiJ2
Portland U. I.t. 'is. P.u.'
BAUER, STARR S CO.
I. mil lull' I In I I
N. i. V r "HI.
ik I'lni u'i Iphi i
I I". II' IllK .
Triillr? in tin- I eill sfn. i. 'iii'ked Itl
liv.il'iii' fpi'ir." Mini pr 1 1 1 1 ivpineiit
iiltiizether vvn" piiorlP-fi In utt red
. iioi- tlii n .is i niitiniied si'Jmy tor
st.ilj'l! itf 1 i"s. v fur tax pu- us,.,
'mt "in 'i I.ipud ition n i'nr' ntly is
ii"nr!v ii .,i iii.l It i tilv reio lied im
purtur.t v . iii,- ,n I'niti"l i"!! Improve
ment in I'i ti'i-v v n i Hiinro.nl T n p.
was m i.i s, ,! g i-1-.Pii ' i ri., but the
imtlsui ti ts Vll'lehltlV 'v Mnllll
i.Ti'-.'i.'s ' ii i in u'lnrwise were
siuitll ami fie ip" nnd vi eipmllv
.united I nit d nis Iiiii"ieiuent inn
nt.lli'l t .- : , it u.tive of the loi al
LMi.ip ut't.'r si .I'linic to -d 1-.", rallied to
i I'' nil Ivnniu Ituilroid was i-
' I lliJl .1 i '11.11. I.ltt i- VMi" ll lin Ill t'il
'I.-i rails, m.ivvr.listiiii 1 ii,' the
-ir. I ,'t'i - f the Jtrmip in Lie New York
1'.
I ii'.- i
Toll ili, I ri'ii -nt V . -rw ol I
-IimiiIiim ii Irinklui V (l-iirii
Fnnilr Killnluf I -iphi i
roiinrli- i -it- .V I ' rn 1
si s hiii- n ni ii vi r i ii
Cri'M I r o l ( .1111 - in-
Aurnri. I Uln A ' 'i j . h
Imllini i hhiiiiiiii v i i---rn
lllilliniH,l .Mi i ik, " .
Ml ifTir Oil ,V Ki-rtn.ni: mil - i'ij
Aini-rii un KuUi, u. .nn mi ,
AmeriiJii is hli. in. I ,
Indinn 4 I n' ti i r u cljn i i
I iilnil -n- ,'. 1 li-i l,- i
Miinlsiri- A Nun' -u m IC It
s, Lhilll I, .. V lliilllr I .,
Omrsl i l( ol i v V ',, I-, ,i
( ltllrn "in, t K- f ,i ,1 ,1.
Arnt-rii-in K i nl M i ' i r in
ftllll I. ii- A I I it . ( .-..
Vlri:llil-i 11 uli - i,m.,. ,n
lnillun i s, rui i i.ri
Kmi'lri l, V I'n I nir
st ( lair I ii no ' I
l'hll i A I. irri ' - s K
Chesli r oni.t
u nf
lUJ'i
IDS I
in.':
itui1
11H I
i il
r 1 I
I'n.i
iti 1 1 1
ri.'
i I'M
!' .'Ut l
v. iuu
- mil
s. rl il s ,
V I'll
V. fl I
"i in.', i
o - ID 111
i . mi-. I
- lOtt
i A ilj tl ,
. l'tji
i istii
iv-
iuii
t
a
J."l i tm
P.. sit
-n' all .
nn. ,1:1
f .t' .lis 'i
'. in i i1 Ii- ;.ri i
V ti nit . .s t
' Mm tiat t.uii.i
l' rpouirii.i - ,
'iiH Uiipul '1 i in.
I., I.'.
,H ll to Slj'.
w re
I uriK"
wuj
.itllllf
''led t" 7'i
t s,H,JM(l 111).
..-! I',t
Plulad'-lphla
.
ii '
Samuel IC. ,'' i'ip. & Co.
Vl.mtwr-. I'lill
-p ( III
U l"rti.Lnv.
I I1ITT
Erv3t St. Lom s,
Subuiban Co.
Convertible 7, 1921
Chalturiooiri Railway &
Lifiht Co.
t Si Refundiu 5. 1333
llAMiEU)
221 Cheilnut 3t , PhiHdrlphf
Hmb m .V -e 1 -tk nn i iMMnim
.iires in ri -. oln r
i i-mli'ii I,- i jii. m f ,r fs,u
disi ij.-i -i. at ti.,- dlrl.to'i,
t tl,,- ii- mi-, bunk ii.' in-t.
i -lav. It -in. tin tistiiiiiiiiy
Un mis i.t t i limluiL' Diiri.rii
I'litimis, ulii i.. u .till 'i
,'! s'lolUlblv - V-,lk iOt.s lift,
tl. l.'"tn I I - i i i l.p, non h I,, t-
ti i 'bun t ! i! i i ' i us.. It is not
b. In vt d f't-i. i . - ni, a hi''i mail,
in biisitiis. -.ji i. ,,. pi, id t.d i-ume
' '"" u' i w' tin n- 1 1 as man;,'
ii barms . . n- --m- iiund out
with tl,. " . ' t ,,,r Tfp mole
ii nn i ' 's i.ihh n'ria Iv bei-n
duK . if. i .ti nt ! r pimps tie hmt
aid i- - . tti"! ti-iii,i.,riir!h , m-bnrrii--..
i .ris f. c-t ..ii tinlr fi-et
ni-'ii i.
Commodity Markets
"sew
I'i
! i
rpoi
COTTON MARKET
Ynrli, lice Js m-rrnnl'H
- I -ri -14- i'tril it I to
i- ' ' !' nl ' I'.ii-ni '.tin.
in' r'iiut "iti ii i a i"ini! a
f 1"- ti .'v." I i.T.ts ii tjie lnrnl
irl .it Lip opi-ii !!' today.
i.i t'.it- a- nn. ' i -e i arly.
V , strt -t int' reHts
' . i - ' n tl p dei line
h'tei-tl "snot
'ii d
in
u i.ai -I
. . 1 .Ih
.s l-l
w.i.
Ganercl Motors
i i -r I i .it r ,r. t.
(
'20 Pnyni"nt F'l in"
Scott &
Investment Seccities
Stjik CKcr-.rne Uuildinz
i n.viii . i.v r,i
tn Vxt-b iiili I'liirp s,HH Xnrit
Stump
ttpr
i ,
t r. hi iru; three ,
' I'i noirit under
. i- i i strip k
.11 .I'll lls
i' ' '-Ii'l of t' e
was about -- '
'i r
i i
i ..
4 li
' i r.
iin
1 1 to
IS 'iu
1 1 it",
: i in
1 1 In
i. i'i
P n
11 .hi
H T.l
li :i
i j iii
iiiii
700
101
too
1 1C0
.10
00
!?00
S'.'JO
200
moo
ino
l.'.OO
1000
400
.500
100
400
US 400
4000
300
mo
r.oo
3000
.1000
b-itO
2.100
200
l.'.IO
2(00
ino
200
too
2.500
170(1
200
f-100
I0U
1000
100
4 700
2u0
200
3'Hl I
400
0100
200
400
100
4 iiiin
100
oiioo
400
400
100
2 JO
1401
200
1(10
400
100
K 200
10,1
400
.-,00
100
HOO
100
700
1-70D
100
1,1110
.100
,-,io
2000
2400
100
100
100
s-JO
4100
CiflO
100
tltt.O
200
r.oo
2.500
sOO
3S00
2010
40it
1210
100
2"01
2100
ino
100
Mmi
ls'10
icon
10,1
2301
S00
7000
350
100
30110
500
too
100
20110
100
200
100
700
S00
2101
too
20il
1100
no
200
1000
200
no
100
lioo
'M0
101
1000
At00
1710
100
too
2101
100
moo
2100
200
100
141
200
200
100
:ioo
1200
1100
10(1
-WO
1200
401
11)11
in i
inn
Till
1 lit)
1101
.1 .'00
1 too
sll
100
2101
1 00
Wil
111
VUI
ri'io
too
Dlv.
lilt
4.',
7
7V
Hi
30 M
CO
niH
2Hfs
00'S
CSM
70'i
SI
u,v j
. 02
. 3214
. 4S
.103
. 2H
. 2V4
M
Hleh
.. Arinms Rxprcss 22 M
Artvnneo llumely . 114
Advancv nuniely pf . S
4 AJax Hubbr 2ff
.- AlaBka Gold Mines. . ri
. . Abiaka Juneau O M . 1
Allied Cliem Dyo. . . 4S?i
4 Allla-ChnltnerB 2'1'.
7 Allls-ClinltnirH pf ... OS'S
8 Am Agrlo Chcm fiS
H Am Meet Suunr 37''t
10 Am Hoseh Mnxnoto... 4s'i
Am Can 2,T4
7 Am Can pf 77
12 Am car ,vt I-'dy 117
-. Am t'otton Oil ici
Am Cotton on pf . . . . co'S
80 Am Prus s-n fl T
7 Am Hide A Leather pf asW
Am Internat Corp.... S'1
1 Am-I.a Franco Knir.. 0
a Am I.lneed
8 Am Locomotive ....
- - Am Safety Itazor. . .
Am ship A Com
4 Am Smelt A Jtef
7 Am Smelt & lief pf.
0 Am .Smelt Sec A
3 Am Steel Foundries.
7 Am Supar lief
7 Am Suir.ir IUf pf. ,
10 Am Sumatra Tob. .
7 Am Sumatra Tub uf.
8 Am Tel & Tel
12 Am Tobacco innli
12 Am Tobacco H 100JJ
7 Am Woolen fi7;4
7 Am Woolen pf 005.4
. . Am Writlnc i'aptr pf29
.- Am Zinc Lead & Smlt r.lj
Anaconda Copper .... 314
4 Ajso Dry t.oods 20
7 A8o Dry Uoods 2d pf 3S(4
0 Atoh Top .s, Santa l-'o R0JJ
ft Ateh Top A S K pf. . . 70M
10 At I (lulf A W I S -S... 07
ft All Uulf iv- W I H S pf 80
-. Austin Nichola.i .... Ntj
3 Auto Sales Corp pf... 10
7 ll.ildwin Locomotlvo . h2'4
. i,.uuin ivoco jir . .
Baltimore A Ohio .
4 Haltlmme A Ohio pf
5 li.irrett ctfn of deb.
. - Hetblihem Motors .
.1 Hethlehem Ste, 1 . .
ft llethlehem Steel I!. .
8 Hithlehem Steel Sc; pflOO
Uooth 1-iiihir.ca . 3IJ
- Hrkl.vn Ilipid Transit OH
. . Hruns Term 4TJ
10 Ilurns H-os . . . , '
. Utitto Copper .v. Zlno. 4
- lluttt ,4 Suptrlor Cop Sa
. Ciuicio Central o A II 12
0 Callfornli racking . SW4
. C.niiornu l'.-troleum. 2is
7 1'illfoniU l'ttrol pf . . 07
4 Calumet ,4 Arizona . 42
10 1 '.in. 1 ill an Paeillc . .114H
.. Clfe J I . ... .''
-. C. i.tral Leather . 32 in
7 1 ntr.il Leather pf . si
I'lrn, de I'mtor Cop. 2."
10 Chandler Motors r,i8
4 l.i,ipe,ike ,vi Ohio is
.. chi & n ii! i:n t ctfd - ;
.. C'u A: 10 Ill pf ctf-j .. 4'i
. . CIiumpo A lit W.st . 7'u
.. ChlciBo ,t at West pf 1704
. Ch.io's' M.I &St 1' . . 2.,l
. . ChlcriKi, Mil A: St 1 pf 39
.. Ch1 s!, .. jjlnn o... 59'J
ft Chic.ii,., Northwestern C38
7 Chi & .Ni.r'hwistern pflOO
8 Chi I'n. urn a tic Tool . 01
.. Chi It I A: lie . . Jl'i,
7 Chi ll 1 Pao 7'"0 pf 09
.. Chi!,- Copper 9'
1.30 Chluo Copjvr 17 4
8 Cluett I, a body 43
.. C'oci-Cola lyi;
3 Colorado Fuel & Iron 2fi-s
J 1 ol uripuophoni- . . .
ft Columb r; is . i;(: . .
4 Comp Tab Ilecords...
7 Consolidated Clj:ar pf
7 ( 'infi'itl iti-d Has
3 Consolidated T, xtiles!
7 'ontinent.il Can
1 ontlnntn Cantlv . ..
4 Vrn Products Itef ..
2. On CoKden A Co
s Cru"lble Steel
7 Cutmn Amer Sup-ir .
Cut, m fane Suc.ir . .
7 Cjba-i enno Suirur Df 7"
2 30 Debeeru in?,
10 De, licl( ,t Western 195
.. L-nver ft Ilio Orandu t
. D-nwr & Hlo fir pf..
I Dim, Mln, m
. . LT; 11-un Coal .
3 I'.Ik Horn Coal pf . . .
I'n.ers-on-Uruntlns . . .
ft l-.tnlleott-Johnson ....
J?-
r.rie lm pf
. I.'r.e Iil pf
H Fa-nous r'uvrrs L.
Fed, ral Mm A: Smelt
7 Fedeial M'n A Smlt pf
. Flak Ilubber
. Freepfirt T"i is ....
. Onston Wins ,t WItf .
1 lien Am Tank Car.. .
. . Uin tl Kphnlt . . .
Inn Chem p of d . .
(1 General rli;nr . .
c,em ral I lectrlc .
. . Oneral Llectrla rts
1 tJen-r il Motors . . .
0 'Jenenil Motors pf . .
0 ien M itors deb 0;
0 (int d - ch I! F ...
7 tli udrich H F pf. .
7 'ir- i' Northern nf . .
tf'o
5(1
jr,
72"3
7.5 U
Is
S.5
4
II ,5H
li
71 x
274
is'
18
lUg
15&
37
7
49
13',
11-8
13,
452
0
21Ji
10 'A
13
2Kb
SO
3S!
120
i2'
11734
3
m,
07 u
-'.9 h
32 1 i
71H
74
4 ( Jr-.it North Oro ctfa 2.5 1,
2 G'mntiin.imo Sutr Co.. 114
. f.ulf Mobile A Nor. . 0'i
. . Oulf Mobile & Nor pf 23 i
. . Oulf State Steel 2.5JS
4 lUski 11 & Uarker Car. .53
Hendeo ctfs
. . Horrestako Mining .
. Houston OH
1 Hupp .Motor Car . . ..
I II- drauliP Steel . , .
7 III iion ' ntral . .
t lnJp. ration Con Cp.
Int. rb Con Corp
Interb Con Corp pf,.
Internal Acrb'iil . . .
1 Int AkxIiuI Vrp pf.
7 Intl Harvuster new..
Inter Mi r Marino . .
0 Int Mer Marine pf .
. Inti mat Motortruck
. . International Nickel
Intel national Paper .
0 Iniid Paper 1 f Htlxl.
In v ,rn- bb- ;.. Corp. .
Ir -a Products
is and nil
. . J.nel Ti'i
. I. a, I Tea pf
3 .'oiks Pros Tea
. Kun City .-southern.
14 A
49H
01
I0'4
20
S.4
21 ' ,
4
oj4
II
1.5
91 I'
ll i
4"3
.11 '4
MV
4V
0914
21'
2S
48
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n
11
is;
Low
22 M
14 If,
4SJi
24 h
V,
i
43K
BJV4
r.n'i
ft!-j
3Vi
47ii
22 H
7n n
115H
lay,
no's
r
37 U
3HS
Nf'e
43
'77
7
20 V
C4'5
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281
S?4
9S.4
70
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10
1001,
.5.5' 5
90 '4
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102 fi
2s
fit '4
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nn
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35
7215
74 Ji
1 Vz
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'
4ft 77Ji
7J4-
8H
no y
is -
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2HJ-J -OOJj-i
08?4
70 14
81 IV
04 M- '
1001,4 "4
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0 -00
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31!4
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10
12 H
02 -32
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3
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el. In jtUh
800 4 Kolly-spritiRtteld 'nro 31 ?4
? 8 Kcly-3PIT T pf.. 7Ji
30110 2 Kenneoott Copper , .. 1S
H00 1 . 20 Kcystono T & H 7 jf,
400 1 Lackawanna Stool ... 4RJJ
100 .. Lnko i:rlo & West . . . . 14
100 .. Lake Krlo A Went pf 28
lOO 2 Lee nubher Tiro 10H
"" c o" i.enign vaucy JtSK
12 WRKOtt & Myers ....128H
7 l.lgKutt A Myers pf . . . 8S
2 Ioewp Co ut4
. . Loft Corp oii
. . Loose-Wiles Biscuit . 2S
12 Lorlllard Tob 123
7 Lorlllnrd Tob pf 07
7 loulsvllle & Nnahvlllo 08 J4
4 Mackay pf A7
10 Manatl Sugar 04
7 Manhattan Clov uar. 44
2 Marlln-Parry 1354
.. Maxwell Motor 2J4
. . Max Mot lot pt ct stu 3J4
12 Mexican Petroleum. .. uih
2 Miami Copper 1ft Ji
12
3!4
10'4
CO
44
10 Ji
30ji
l'4
3J4
40
100
100
1200
COO
1100
SOO
100
100
100
100
100
son
100
100
11000
200
4300 l.eo Middle States Corp..
3700 4 Mldvalo Steel A Ord..
200 . Minn Ht I. m.--.
100 7 Minn St P & at S M..
230 . . Mo Kansas & Texas pf
1700 .. Missouri acitic
200 .. Missouri Pacific pf . . .
1400 . . Montgomery Ward . .
7ti s.ou national Acme
12 4.
f
'4 4-
"4
H
'4
H
IT',
300
100
400
100
100
200
100
100
2000
.500
1000
3000
41510
400
1100
too
5000
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Nnt An Ch ctfs
Nat An & Chcm pf ctfs 85 J4
7 National Ulscult .... 90
. Nat Cloak & Suit ... 20)4
7 Nat Cloak A Suit pf . . 0
, . Nat Con A Cable. ... 3
0 Nat Loiamel A Stamp. 40
7 National Lead pf.... 101)4
. Nev Con Copper h
n N O Tex A Mex Cft
10 New York Air Brake. 75 H
0 New York Central . .
. . New York N H A II. .
1 New York Ont AW..
7 Norfolk A Western...
B North American '
7 Northern roclflo
0 Nova Scotia S A C
BO rvunally Co
1100 3.80 Ohio Body A Blowor
70
ioyt
17
UO'A
SO
70&
30
10
074
aji
13
44
11 V
47
38J4
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07 Ji
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33 Ji
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1.500 40 Okla 'Prod A lief. .
300 . . Otis Steel
300 3 Owens Bot Mach ...
1100 .. Pacific Devel Corp..
400 c Pacific (Jas A L'lec ,
SOO . Pacific OH wi
CSOO 0 Fan-Amor I'etrol . .
110O 0 Pan-Amer B
000 1 Parlt.li & Bingham .
10,111 .. Peoples lias Chicago.
200 . . Pcnn Seaboard Stuol
6.500 3 Pennsylvania It It . .
1100 .. Pern Marnuetti, in
200 r, Pero Man prior pf.. S3
000 3 Philadelphia Co . . . . 32J4
1000 .. Phillips Pa 20
1.500 .. PIcrce-Arrow Motor . 17)4
000 8 Plerco-Arrow pf .... 03 Ji
1000 .. Pierce. Oil 10
200 G Pitts Coal 57
100 0 Pitts Coal Pf r-4
1200 . Pittsburgh A W Va.. 28 Ji
200 1 Pond Creek Coal 12)4
200 A Pressed Steel Car . . 7
10,1 7 Pressed Steel Car pf . . Oft
2000 8 Pullman . . . . 103
1800 8 Punta Aletrre Sugar.. 44
2200 4 Puro Oil . ... !.2
000 1.88 Band Mln Am Shares.
fi,500
17500
100
1200
300
in
1 Hay Con Copper .... 11H
4 Heading rsJj
2 Reading 1st pf Siy
2 Heading 2d pf . . 60
, . Kemington lypowntr 2514
2000 . . Heplo Steel 34
3000 a Hepubllo Iron A Steel SH
100 7 Hepubllo Iron A Stl pf 84
100 .. Hepubllo Motortruclt.. 17U
(lliA
1 Ht Joseph Lead ll?i
. St Louis San Fran . . 20
. St Louis Southwest .. 21 Ji
ht Louis Southwest pf 35
6000 B.20 Hoyal Dutch Amer
100
1H0O
400
100
Ji
3
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14
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200
300
j on
2.500
too
2110
2100
0.500
3700
2SC05
2100
200
nno
700
700
300
2500
900
1200
010
1000
11000
310
2100
100
100
700
R70n
5100
200
3S10
1000
200
200
SOO
SOO
100
3230
300
1800
4 SOO
100
100
5lll0
200
1S-00
18000
1200
2100
10(1
7200
1011
210
210
200
200
100
400
100
alio
100
100
111
s'i(
1201
7 SOU
100
510
111
trio
1 Santa Cecelia Sugar
. . savage Arms
. . Saxon Motor
. . Seaboard Air Lino pf .
H Sears-Hoehuck
7 -Sears-Hoebuck pf ....
4L
10 1 4
2J4
11 Ji
03 '4
09
Shntt'ick Arlzon-i carp 4Ji
74 Shell Transport 40Ji
. Sinclair Oil 21 Jj
0 Southern Pacific .... oil'i
.. Southern Pacific rts . 2,1)4
Southern Hall 2114
0 Sloss-Sheff 44 Ji
7 Stand OH of N J pf..l044
ft Stand'ird Oil N J new 152
4 Stewart Warner Sp. . 2(1
! Shombcrg Carb 27
7 Studebaker 41J4
. . Submar Boat Corp . . h
i Superior OI Corp ... 19H
N Superior Steel 43
. Tenn Cop & Ch. m ... (I'i
5 Ti is Co ... 42H
. Txas & Pacific ..'K.'i
1 T. xas A Puc C A O. . 2CH
. Third Avenue .... 12't
Tidewater Oil rts ... 13?i
2Va Ttmes Square Supply 0'i
0 Tobacco Products ... 18J4
. Tninscontlriental Oil . OH
r, Transup A Wins Steel 37 J4
Cnlon OH 20)4
JO l'r.Ion Pacirto 115J4
4 t'nion Pacific pf .... 01
1 L'nlttd Alloy -Steel ... 2H)i
12 I'nlted Fruit . . ..100'4
.- I'nltcil Hwy Invest . OJi
. L'nl Hwy Invest pf . 1si'4
3 Cnlted Hetall Stores . 4'lJi
. U S C I P A Fdy.... 11
0 U S Food Products. . lfl'4
8 V S Ind Alcohol . . niJi
7 V S Ind Alcohol pf.. nl
- I' S Hialty A Imp .. 3014
H U S Hubber 8014
8 I' S Ilubber 1st pf . . . 00
0 D S Smelt A Hef ni
5 U S Steel kh
7 I S Steel pf 105
fl I.'tali Copper 47
I'tah flic . SJi
0 Vanadium Corp 31
1 Vlvadon Ino nj;
Wabash 7 j,
. Wabash pfd A ... 19
W. I!H Fargo nxpres3 50J'4
7 Western I'nlon Tel .. S2',
Western Marvlund . . 10
Western Pacific . 24 i
il WiHtirn Pacific pf 00'
4 WtHtlnghousu I. A M 40JJ
1 ,. uoiiiiKlluuse A HraKts i
9)4
15
3-l"4
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29 Ji
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40
SO
. . Wheeling A L 12
Whullng A L 7 pf...
1 White Motor . . .
. . White Oil Corp
1 Willyh-Overland
7 Willys-Overland pf ..
.1 Wilson A Co
0 Worthlngton Pump . .
0 Worth Pump pf U ,
Low
31
75
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ROADS PAY BIG COAL BILL
IVnmi ( omp.im I lli.'il
I,iliii.'!i n'li . '..in ral I,, J00.1
Jiin-i .t'n I -ark A. ( Icirfi'd K19.VJ
I'hil.i If. ll.i ,. Wash. N( (,, ion
.New o.l unii-ti . l'-s, JS33
BOENKiKG. 14IRRIS0F-6C0.
sIK K I l If M,r III 11 DISO
Ii, r. t I'm 11. Ill, , .t . in i-iv lurk
Vliiuliirs I'lill t -k 1 .1 iiiinEi,
GRAIN MARKET
(hiuiKu, I" - With an ensfnrn
1. i- 1 ' 1 ii-ii1 1 i ,' -n,nul the
"-' . r - ,r . winker tins
ii t 'I r 1 b- 1 a 11 I small There
.1 11 "1 01 if imiMiesN over
1 IU s j, I. irotii- num. tit .
NiMpi-nnlon ' coal
'I ore 11 n m w
1
ii' - 1,
- tl ,!) of til
' f I'-nri 1 mini
1' d'liiaiid. with exporters
rr
v U finiifin ml tur li watmrnt
WATER POWER
Stocks & Dondi
Low Operating Cot
JosepKW.Gross aCo.
1421 Chestnut Street
( t tt IlillllfH
Aldred & Co.
w ii
tii- liar 1
w its a 'a k
,1 'id reii'
Munh .tn nl nt SI r.."', to .51 mjij
nifiiiiisi i -1'.- iir rue , i,i j,
Hli'l '1 or.ieil 111 .! t ', VlHJ opened
t si ;,s f,, l ",' agniuvt Jl ,Vi at
tlie 1 i,sp je-,tt-rdai, and later Mild at
SI '.T'i
I 1 ..rn v as ii's.i titsii-r, out ileulifigs
't'ue liiiht Theie -van huvliic hj 10m-
ti i"i'in iioues,on thi ritesHlnrt,
Ileeemher iturtt'd c lower ut 0!l.r.
Spend $326,923,642 During First
Nine Months of Year
1 W .i.lilnjtton, Ij, t a--The rallro.idH'
1 '".i. bill t ir tli. firs' nine month r
th ear .v.i" '. " '1.1' 24 mori- tliaii
'lur -i,r th. - 1 rr-sj 01 inn,. f,..rloJ 1 uit
I ' '. H.1I1I a uiuti nm 1 Ihiiu-iI todttv 1
th :itr8tite iMTiiTw-ir-, f oininlHsion .
r-n .t.on .ink r n the niiiintMbioii roi a.
ri 1 a, to thi irnoun'H apent by 'he
I roi..l for coal tli a ,iar and lout iii
iiiloiit-d riti nla I- the Senate
I ilnu th, tlrsi iilin iiKiiiths of I'us
ye.tr thi io.i'Ih i-lnd ; '2C.92 1 43 for
ta HiraliiHt jj.n:ii.uis. me ton.-
UK stu'Hmint t'Hlay sliowisi jl
Financial liriefs
cou of 01 wan trreater m thu r.ew
Knt-r'."nd distilrt tlian in any other filar.t
In lh country, the commission taM, tho
os 1 Inir J7 72 ii,t net ton, a.i BKiiltiut
tenlav. ' 111": a tor limt )ar
The 1 ntral vveHtorn district hud the
Iwii -o coa 1 n riillroiuls Jiaylnj; only
ii -in per tot, in l'Jiy thuj paid a ji
a ton
Tl , total ooal eomfumptlon by tho
rahriulu iltlnni; thi nliu- months of
1920 Ann Sl.752.121 tona, while. durltiK
the s.imi period in 1019, they UHed 71,
619,019 tons
"J 1
c.
!i
Mav opeiieil at i.i'r to
an iliint 1 i'i'' at the i use lesteldav
1 1 1 1 s. starful nt i-i e to i.f'Jv iom
piim! with T37e, jebteiilay'-i hut
pru i.
Iiieeinlier tnrted ,',( lower, at
l"i ninl rui'ileil to I'iUJc. May
tn 111. 1 11' V'i ' iTse .txjir.it 'l'lt
it t'ii iluse jestorduj nml taggeci to
Today's RanQO In Liberty Bonds
11 n
HiKh I,' , m.
Liberty 3'iH fH) 20 IHI.OO HO ltf
Liberty Ut 4H..R.riW1 n'lfiil W -ri()
Liberty 2d -Ih,. HI W) S4 111 8I10
Mb.rtj 3d -I'-ih.. STfil S7'J8 87 HU
Liberty 'lth 1"k SI HO HI 70 H4 HO
Vic Votes 3'is 01 Ui IIHI1! 01 11:
Vic Notes 43. 03.00 'tlDO
Viitinntl bank outstanding 1)'
Cfmher 24 wen- r:t. 1 I 1189 , . deral
Rihtvi notes 4 2 1, d t 7 0 U For the
w..k i-niltd I)-r.-r, i-r 1 national hank
m.'ts dei'tu.ih.d -:;, Federal JU.
BTH notes Incrui-ini j:, 217, 600.
Tho aviniKc pr ,- 0' twenty active
InduHtrlal stoclh -i. .-lln I 0 'JO pi r ctnt
yiHterday to Ob ' 1, whll- tvventv rail
roads advanced 0 3 per cent to 72 06
California Petroleum for the nine
monthH ended Sept imber ID. reporta ur.
plus, after charife iiepreeiatloii and fed
eral taj-os- of 41 74f,.J'j 1. wiulvaJerit.
aft, r allowing fo- preferred dlvldtnis,
to J7 67 a uhar . trned on the J14.S77,
06r. common ntr-n compared with
surplus of Jl,4nsi .21. or 6 06 a share,
In tho preceditiir ear.
Reopen Freight Rate Hearings
Wutlitntrtiin, lr D --Hearln,js on
the re-dlvlHion of frelnht rates between
camera t ut ur.d went of the Iludnon
rlvar reop..ner today before the Inter
Htato CoTiimercn C'ommlaslon. New i;n
land win r-rH wre recillert to five
further dirut testimony and to be chjrb
bxiuninid In attorneys for the trunlt
lines. Gioikb M Wood, Kenerul frrlxhi
aitellt of thu Now York, New Haven and
Hartford tmu-d tho courso of the de
velopment of tho present system of
frolfiht dlvixlonB and gave tho commls
Hlon fliruris to show that a Knat In
equality existed botween New England
iniercnanj-'ed rates anu tuoso pruvuiiuig
I LIVESTOCK QUOTATIONS
I IIICUEIi, IJoo
rlit 42 OOO h
1' i-
II' 11,
lift
s -
,1
"i rif I irh' ,r I
liiMi r 'Iimi .tei 1k
fur 1.0 tu lso ii'i ,1 1, ir rin,,
t'ATTI.i: Illll Mtnl r . Inti
SlinKI'-IJjilmaiH ri. npii
H i:tlin ited n
' lr, '5:7 hnii!
'ml h. lOJfldo
i" so paid
1' Ono haj
M 000.
l'lltbiir(h,. l,c
300 hfl.il Hllir
10 70 hav yurkijiH Hi
.,ift-ri tn low ij liIKH
.-siir.r.i- A.-,l 1
-St, ilv Thi,
AI.VUM Ittg.
Jl'J
-HOiJS-lUnip,,,
ll-iVl Ilf, -(,
''.?5 ,".." uh'i
cltit-i 60huj. H;y .run
1M 1 ATTLJC
1 "w farly
Kuit ht. Iil, III,, U'i
heinllils ISOiJ liend h,
Item Mul,. ,U,ut mi-i li i,i, M .!,.,;'
l"V," '"' h""7" "lead to u nt., l owSr'
J12 built. Ill SOft 12. '" op'
HO(,M Heiilptn. 10 000 head
1)1 00 1 in other division.
3 ..... -
i-j ,,- ,-,-r, tufn ,--ihi riitiv h elo, i nnl
to 1110 below th uveraii tup. o ...''nES?
IHrhu ami pun ui. to in -,ii bull "r iW?.1
kml medium wjlnhti llnti lo Jo i, L"1'?
he vie. 0Ii'lWJiir.. i,S lili, ,,. ,u,l.k. ?'
yeaterday e!u qualtt iriuntlj iv,'i
HHIll'
tlve and
trurm. utiB diLk r.t nn . . "Jl ttr-
tlvu fel lamb brotujlit $11 io hana. ?.,."?:
nriKIH
MPROVED
Ti
ONE
SHOWN ON CURB
Movement Believed to Indicato
That Conditions Are on
tho Mend
Given ut 11
1'jurt lluffalo. , y Ij, , jH -oatti v
Heoli.tu aoo htl Bt ,,h , CiiS.
relpta. 175 head Fifty cem, huh'YiVlS
HOOS RKCtlpti 200 htuA lUYy "s i
500 lowor Ilrany 11 1 JBWll 7? ' .t00 V
111 TSW12. yorkera. lit. llMit vork.r? -"
SHi:KP AND LAMBS Itrcelnta man
head Hteaily to It hi,.h.. ."r"1."' '"IP
IS 60, frlln, 011 f,0 wnthVr. li ii
New York, Deo. 28. Thcro was nn
irreRtilnr tono ti the trntllnjj on the
liroml street rurb market toilny. Most
iniportnncc vvni nttni'heil to stucka which
shovvptl un Increased demand nnd mode
moderate ualns. It wat bclicvel the
movements In these Issues indlcntcd se
curity trndlnR: conditions are on the
mend ntul that activity and strength arc
In prospect.
A few transactions were made In
Goodyear Tire which rose from 21V
to '2i. Jnter-Contitientnl Htibber rnnged
irom !i to r'?i. Some larfic blocks of
United States Steamship choused hands
nt 1. selllnu of the stock being regarded
ns natural In view of the weakness In
the shipping stocks, generally, on the
exchange. , ,
United Iletatl Ondy sold nt 7 to 7.
INDUSTItlAMI
P. m.
24
8
0
ltt
i?
V
1
ActT.s Coil .
Uoodycar Tire
Imi'iUI Tobacco .,..
Inter Htibber
l'erfectlon Tire
Had In Com
H'ullo Com pref
Hoy le I'ranco
Htand (Ins A Klrctrlc
MAeets Co
Trlanule Film
1) S Steam
United Hetall Candy..
Wayne Coal
HlKh
.. 1
..21
.. R
Low
li
3
Ti
21
s
i
3
li
t
hx
.STANDARD OIKS
M)HNT OILS
17 1
m
Anglo-Amor Oil
lNDI'l'E
Allied Oil
lloone Oil
Iloaton Wvomlnir . ...
Carlb rtnd
Cltlen Hervlce "H" ctf
Ocanv Oil
i:ik lliialn Pet
Federal Oil
aionrock Oil
Or.inada
(lutTny Ollleapte
Hudion Oil ...
Inl l'ttrol ....
Merrltt OH ....
MfXleo Oil
.Mount l'rod
North Amer Oil
Noble
Omar Oil
rrodurer & Hennorn .....
Hod Hock Oil
Itynn CorM ...'.
Klmma l'et
.skelb oil
Un Texas Oil
Victoria OH new
Vulcan OH
Woodburn
U S Oil
MIKING
Ala'ka Iir Columbia.
Atlanta
llooth
Iloaton A. Montana .......
Caledonia .Mlnlne
Calumet Sc Jerome ...
Cnndelarla Minltu
cona Vlralnlu
Cortez Sliver
CreHnon Gold
Creiient MacNanrura ....
Kl Salvador
Eureka I'rwmin
Kureka Holly ...........
Oolil Cona
Ikild IJevel
(loldtleld Florence ........
Gold Kewanaa ..........
Oold Sllvar 1'ick
Great llend
I.inma .Silver ............
Hecla Mlntnr ...........
Jumbo Intension ........
Knox Divide
MacNnmaru ....
.vur-ih Mltrlntr
.Mother Iode ............ I
Mother Lode naw .
Nlplaalnx
North Star
ophlr Silver ...
l'rlnoe Con
Hay Verde Cop ...
Hox Cons
HocheMer Mines ..
San Toy . ,
Hllver Klne Dtvldo
no Am i' & ii
Stand Silver Lead
Hucceflit Mlnlni-
Tonopah Jlelmont
Tonoiuh Caah Hoy .......
Tonopah Dlvlda ..........
Totropah Eitcnalon ......
Tonopah-JIm llutler .....
Tonopah Midway ........
Tonopah Mlnlnif
Tonopah Mtipah
Tonopah Montana .......
Tonopah Reacua Eula ....
,'niirii iaaivrn .
y.!ct.?ry
Jhlt Cans
Wllbert ....
RONDS
Allied Pnck"r tin
Ami-r T"l On 1022
Anaeonaa iw
An&ionda 7a.
Armour 7b
ll-th site) 7
riltin O-VH ha
Uaii-na 7s
Ootnlrlcli Tlr.- 7h
Intern Rnp Tr 7a
Seaboard tla
Sinclair 7b a
solvay
Stand Oil Calif 7 ...
N'and OH N Y 7. 11)2.1..
Stand Oil N V 7h 1081....
iii-ji, . -nn ,i
Vu-Car chum 7Vi
rimiMili a ,.,
HamburK Is. ..
N"i rv i in
Swiss f.s,
10 10H 10H
'7
25i
!8
K'20
lfl35'
OSS
80i
H7H
US'
fll
t'T
l0
:il
fl,iar
87
WHi
100
KiOH
100'i
t,-r
13
no
77'4
nn
hll-.
bIK
4'J
03
07'i
I)3'4
7li
llftVi
tn
ttax
onv
oaH
100
ioo;
99 ;
on
no
13
uru
77'
C0i
03V.
co-v;
WJ
01
1I7'
03 W
7ils!
novj
-tl
S7
on1;
100
w
10OW
on1;
no
un
00
77H
Philadelphia Stocks
250 Am Stra. H
.r'0tAd'mH Ev 22
hKAin Ship
& Coin. 22
17.T Am Our.. 29
2lHltlt,th Mot 211
ltlhild Loe
1'i-ef ... 03
'HCiii (ira'h 0
Hit Lin- Stor 87
HfMiti:rii. . .. 'J.-V.
UKltti,.,, Mot 13
HHItIiit,.PMet 1
.".J."itKi.inertit t
bid Lake Sup 7V--'!"
I-eh Nav. OliJ
2-1 I "li Val . r2j
l.-'tMi'miCoi, in
'12-!tMt,vn!e . HUL
l' N-ir Cent 041
-IL'-itNev 'nna H
12"-' i'n n u . :is
I'M P.i Salt . Or,
H "J I'lnlii lus
Wire... 51 .
-'"') riiila Co
eiini nf
lKi I'lnlu Kh't
Low
1'IB
P ra.
41
jo
Net
chge.
22
28
2V1
w
T1
8tIV.
12'i,
13W.
1
ir."',
7t
04 V4
1$
on
3S1,
22
2H 1
214..
m ..,
8l 1
3 -". 'J
J:ir'st A
MVi..
r.a t, u.
in -- ,
ni'j ni ij
171 ,n i.ref
."'77 I'lnla UT
1J" I'l.ilaTiiic
'"' I - baci'o
I'i ml nf.
."HI T.inn Ilel
.10
2 Hi
27 ;
11
no
81",.
.'!0
I-'i'ji
50
Sl
lUt
1H
no ..
2JV4
T 1 '.'.
no ..
81 U 7'
,HI '..m. Ilel. 1A 11 1V4 T
7-.il 'I. mi. Min 1, 1A ijC ft
rr,:, True. 2(1B 2SK "Jl-i-
Ml j.(i I... 27 20i 27 t i
20 I'm Con - -r a
iu v 1 ...lor. ir, inr, 1
HMitl , steel 77T, 77V, 774, !
Stuns.. 48-iJ -JHy, W,..
-aie ,.n s; ;;-yivTBik kKSSS? w,m '"l
J1000 jh.i, ,., ' 'J?
4-.) Am ! fi
a.r,l.t,irnviVfl0 00
7" 102-VS 102 102 1 1
7h 0
1 'it j k 101,1 87V-
I'eo
53
Net
elmo
31
Va
It
1 like
Tr
2 K" T.-l Ut
5h
4 LOiIkIi Val
Coal -I. . .
Yi I-ih Itiindu
3V,h
201, o,, ,,i8iii
1 ii-a:iii 4xh.
W) lth 4',4h..
1 Vic -1.V.M
12 2-5 Phil Klcc
lit 01. .
7 South Hwy
gen ! .
CO
0314
0O V.
W
53
5!)
113 1 i
001$..
S7V1 1
03 ..
01) I
03 14 ti
00.00 00.00 00 00. 0(1
8 1 30 R 120 8-1 20-1 op,
87.34 87 10 87 10 .20
81.80 HI 70 84 70 .10
04.00 04.0104 01..
81
08Vi
70,
0814
81 1
08i . .
What Makes An
Investment Safe?
AKE your investment securities whatever thev
mny be and check the following points:
Ie the investment backed by ample assets and
ample earning power?
Are these assets and earnings so tied up that
they must be applied to paying you in full?
Has the investment a definite due date, and is
provision made in advance to pay it in full when
due?
Is it free from market fluctuations and depre
ciation? la it protected against labor troubles and ad
verse economic conditions?
An answer to these questions will go far toward de
termining whether your investments will prove
wholly satisfactory and safe.
Our booklet, "Common Sense in Investing Money,"
will tell you how to apply the tests for a safe invest
ment. Write for it today. Ask for
Booklet 501-Q
S.WSTBAUS&CO.
KSTADUSHED 1883 INCORPORATED
Stock Exchange Buildiru, Philadelphia
Telephone, Spruce 6628
NEW yoitK
CHICAGO
DKTHOIT
HOBTON
nurrAix)
CLKVBI.AND
WASHINGTON PlTTSBUIlQIt
BAN PRANCIHCO
INDIANAPOLIS MILWAUKKE
MINNEAPOLIS
Thirty-eight years without loss to any investor
AT THE CLOSE OF THE YEAR
THERE IS CUSTOMARILY MADE AN
APPRAISAL OF INDIVIDUAL AND INSTITU
TIONAL INVESTMENT HOLDINGS A TASK
THAT IS BECOMING MORE THAN ORDI
NARILY DIFFICULT AT THIS TIME.
WE THEREFORE CONSIDER IT A DUTY TO
OFFER OUR SERVICES IN SUCH INSTANCES
WHERE EXPERT ADVICE IS NECESSARY OR
DESIRABLE.
FrazderoGx
Broad and Sansom Sts., Philadelphia
C5 Broadway,
Now York, N. Y.
927 10th St, N. V.
Washington, D. C.
19 South Street
Baltimore, Md.
XT
We Offer, subject
to Prior Sale:
Prloo
Approi
Yield
5.42
Grand Trunk Pacific Ry. Co
1st Mtg. Sterling 3s, 19G2 Bl
Grand Trunk Pac. Ry. Co. Alberta
Linos
1st Mtg. Sterling 4s, 1039.... 66 7.4C
Grand Trunk Pac. Ry. Co.
Saskatchewan Lines
1st Mtfj. Sterling 4s, 1939.... C6 7.46
Grand Trunk Pac. Ry. Co., Prairie
& Mountain Div.
1st Mtg. Sterling 4s, 1955... G5 7.04
Both principal and interest on tho nbovo issues
'paynble in Now York at a fixed rate of
exchange of $4.8GG5 per pound.
Circular and further information upon request.
GEO.wKEFlDRrCK3Kr5,CO
(431 WALNUT ST.
yp&n&ens
Member New Yer and I'hlln
delplila Htock lUehasxM
PHOAQOPHIA.
Ttlephoncai lull Scrum tJ0
Kmifinc Bone HSft
Efficient Locomotives Help
Keep Freight Prices Down
About 70 per cent of tho revenuo of American railroads
comes from freight service.
Few manufacturers and shippers give thought to the
fact that the railroads are constantly endenvoring to
keep freight costs down by increasing ton mileage with
out increusing train mileage. This requires efficient,
high-powered locomotives.
Our ability to furnish railroads with such locomotives
for every kind of service means much to the manufac
turer, tho shipper and tho genoral public.
THE BALDWIN LOCOMOTIVE WORKS
PHILADELPHIA
Kallman& Rosen
PUBLIC ACCOUNTANTS
ami AUDITORS
Income Tax Specialist
510 Rt.l EiUte Truit Bldg. ",
Morris Brothers Co.
Kutuhllnhtil 1NS3
Bond for Investment
Municipal and Corporation
1421 Chestnut Street
Wpwlnl Mwtln
(Kgr'NATlONAI. HKCUIUTY IIANIC
i . ''h.ll'!IPhlii, D.iinbr 8, 1121.
W II McKEH. Chler.
Dayton Pr. & Lt. 5s, 194!
Erie Lighting 5s, 1967
Amer. Gas & Elec. 5s & 6s
Amer. Ice R. E. 6s, 1942
HersheyChoc. 728. 1930
Lukens Steel 8s, 1940
AtsCowft&Ca
Mtmbera Philadelphia Stock EJJfylj
mkuh oiv Land i i atag I
tfVW 4Uf(V. A C VWrtftO'"'" ---
Stockwell.Willson & Lii
Certified Public Accountant
Land Title Bldg., Phila'P1"
Amer Uwys. 5h, 1031
l.ch. Volley Transit lt is, 1W (
Sun Co. deb. 6s, 1929
Ind. Tract & Term. 5h, 1933 f
CHARLES FEARON & CH
333 Chestnut blttn
'
M:v,
f ,
4.tX-il
XT. Mr Jl T i