vJjTI 'j'W'fTtTjpBsi rt
evfltvvT-
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j M3JM2S&!?-l-'''i'.Tf J";'" ' -j
Ayftv
'Guaranteed by the
Kkfcfain of Denmark
' A tvr'onty-fivc year, Pe
loan, payable in U. S.
., Gold dollars; issued as
the obligation of 29
Municipalities under the
i approval artd guaran-
i too at Denmark.
If. a nnd when Iseueel
To Yield About 8.29
' If hM to maturity
Vttvutor on- rvnuett tor l'.E.-871
IMirtkmaJGiy
Company
rMlmUfluhla 1121 Cheetjtut Nt.
Atlantic CHr ?halfont nioeU
VttS noart-irk
EVENING PUBLIC LEDGERr-PHILADELPHIA, WEDNESDAY, jd&KUAEY 9; W
,- .i . .... ...... .. . . - . . - i , i i.ii-v. ., ... i ti- M 'itA".rr
SPURT IN STOCKS
IS SHORT LIVED
Market Proves Disappointment
to Tradors Trend Unmis
takably Downward
1 NEW YORK STOCK EXCHANGE, TRANSACTKiNlS
i
.
i
What Is Moody's
Rating?
Every day now securities arc
being offered in the investment
markets many high grade,
soma medium grade, and somo
doubtful quality.
How is the Investor to know
what securities he should pur
chase, nnd which ones he
should reject? Simply by as
certaining the rating on each
security offered.
Ve furnish investment ratings
on all new issues as they ap
pear. Throughout the entire
year our annual Rating Books
are supplemented with bul
letins of new and revised
ratings. No investor need to
remain in ignorance of the
rating on any issue he holds or
contemplates purchasing.
Write us today; there's
danger in delay
Moody's Investors Service
JOHN MOODY, President
1124 Real Estate Trust Bldg.
rhllnilelphla. l'a.
New York lloMon Chicago
New York, Feb. 0. Those who ex
pected the market to continue today lt
spurt of lntc yesterday afternoon met
with a wvere disappointment. The list,
Instead of picking up where it left off
yesterday, relapsed Into Its condition of
torpidity, wjth such price changes as
occurred showing an unmistakable trend
downward. " This action strengthened
the. belief that the rise after nil might
have been due to the covering of shorts.
The rails exhibited unexpected weak
ness. The pnssnRC of the Wlnslow bill
In the House yesterday, which permits
partial government payments to the
railroads, might naturally hnve been ex
pected to have spurred these Issues Into
a degree of activity.
At the opening, Southern Pacific ad
vanced , which was In line with pre
dictions that it would move to higher
levels after selling ex-rights, but it
very quickly lost this advance when
the other rails began to sng. Thc fact
that call money opened again at 7 per
cent did not seem to Impart any con
fidence to the long side.
The steels, after -a hesitant opening,
in which United States Steel was up
an eighth, i-oon began to case off. Oon
! firmatlon was Inching that price-cutting
on any material scale has as yet invaded
I the industry. Thohc who maintain that
present prices hnve discounted any such
I nrtion. point to tho manner in which
1 c oils have held ground in the face
I of repeated lowerlngs In the prlec of
crude oil. , , .
I The petroleum Issues, oa a whole, be
Ihnved well in the early' trading. Gen
, oral Asphalt, in which thcro was quite
1 heavy trading, advanced a point. Mex-
t n.iK.ii.itn nftnr ttH rise of Tester-
dnv. was off only H. Hoynl Dutch
gnve way but point nnd Sinclair
was steady. . .
The coppers were dormant and the
KUgars les active.
UNCERTAIN TREND
IN LOCAL TRADE
American Stores Drops Part of
Early Gains Railroad
Group Weak
Dtv,
Baleg in f High
.. Air Reduction ....... 3
4 AJax Itubber' 87 V
MM ... Alaska. OoJd Mines... 1H
.. Alaska Juneau OM... IK
90i .. Allied Chem & E-ye.. SUM
0o ., Allied Chem A Dye pf 8H
' Allts-Chnlmera .'.,... 3J&
100 7 Allls-Chatmera pf . . 80J4
8 Am Auric Chem...,., US
3i s Am licet Sugar HH
200 4 Am D Shoe VAy new U
7 Am B Shoe & P pf new to
16J .. Am Can ,, SOJi
13 Am Car & Fdy l3yi
1100 ..AmDrugSyn M
800 .. Am Hide ft Lmther. . t(4
00 7 Am Hide & leather pf lift
8 Am Ice pf 9
200 .. Am Internat Corp... (yfc
108 s Am Linseed ........ 81 V5
300 a Am Locomotive 83J4
300 .. Am Safety Razor..,. J$
H08 4 Am Smelt & lift 4114
8 7 Am Smelt ft Rcf pr. . 8JJ4
200 s Am Steel Foundries.. 30
"08 7 Am Sugar Kef 83
H0 7 Am Sugar Ref pf...,183
00 10 Am Sumatra Tob 80 K
800 8 Am Tel ft Tel MX
1000 is Am Tobacco ..Vi
100 a Am TobaccO pf new , wl
400 IS Am Tobacco n lllyj
1M0 7 Ahl Woolen 87;
188 7 Am Woolen pf ...... 5H
200 . . Am Writing I'nper pf . 38
'8 i. Am Zinc Lead Smlt 8H
188 .. Am Zlna ft Lead pf... 3S V
"80 ., Anaconda Copper ... 31j
100 a Asso Dry Goods lstpf 88 J
-8 o Asso Oil ..10814
400 fl Atch Ton ft Suntji. Fe. 8
oaou jo Atl QUlf & W I SS...
j uno 7 naldwin Locomotive
1400 .. Baltimore ft Ohio...
100 3.80 Barnstlale Class B..
4
8('
84 Ji
28
1
4
87
DO
J.; 'tUlf jJLL ,-lJ '
HI I
11 1
4 1 1
', ' j I TT is our bcliei that J
it ' Hi many conservative III
k j ji bonds are now selling J
!rs ; oeiow tneir true vaiuc. i
! llli
In the current issue of II
"Cassatt Offerings" are jj
jjl listed high-grade securi- I) j
I! tics which we believe are IS
ll worth your consideration J
lla for the profitable invest- IS
"1P (111 it r urttir funrl lilj I
Jhfi fin ...w... w. jwv.. iuiiu. iiiq
ww' MB Kindly aak for Circular K-C j
S , HiJ I
f ' CASSATT V CO.
. III COMMERCIAL TRUST BLDG.
r- Mi PHILADELPHIA 1
', J NIW VCDK llljl
J 4 llll AUlMORk-rrrSauIOM-SeAWTOH HI
700 .. Batonllae Mining
300 . Bethlehem Motors' ..
8800 a Bethlehem Steel B..
100 7 Bethlehem Steel 7,
300 8 Bethlehem Steel 8 pflOBK
310 .. Booth Fisheries 4H
370 .. Ilrklyn Rapid Transit 13H
100 jo Burns Bros 84
too . Buttorlck 10J4
1100 .. Caddo Central O & R. 13J4
1108 . . Callfomln Petroleum. 3BH
100 2 Cat Zinc & Load 4
400 io Canadian Pactflo . ...110
300 7 Centrnl leather pf... 88
300 ao Cerro de l'nsco Cop 3Vi
700 io Chandler Motors .... 71i
800 4 Chesapeake & Ohio... 60
30 ., Chicago ft Ot West.. 814
00 .. Chicago Mil ft 3t P.. 38ft
1180 .. Chicago Mil ft St T pr 44ft
180 s Chicago Northwestern 88 H
'88 . Chi R I ft Pao 37 Ji
100 a Chi It I ft Pnc 0 pf 3
300 7 Chi It I ft Pac 7T, Df 74
888 .. Chile Conner 134
33 K
431-4
33
81
UU
84
7814
3014
to
34
7t a
30
84W
33
30
C
lOOi.so Chlno Copper
108 s Cluett Peabody
308 .. Coca-Cola
708 5 Columb Gas & Kleo..
14(10 i Col Graphophono ....
100 7 Consolidated Cigar ..
280 7 Consolidated Can ....
180 8 Consolidated Textiles.
400 7 Continental Can ....
8400 . . Continental Candy . .
700 4 Corn Producta Ref. ..
800 3.40 Cosdon & Co
7700 8 Crucible Steel
480 .. Cuban Cane Sugar...
40o 7 Cuban Amer Sugar..
308 i Davison Chemical . . .
il
Bonds
The share of the American Stores
Co. and Electric Storage IUttery led
operations on the floor of the local stock
oxchange at the opening this morning.
.i. A.mn. mnrinr finrK IO Kir uih"
point of yesterday, r.3. shortly after the
Lv.oo nn.nH At this price the
;ock was at the high of the re jr and
...uhli, HV. nolnts of the highest quo-
i nv?. tmirhml. Offerings were
not ns large ok yesterday's session and
r .u nn nnrt wm in small IOIS,
but were just as eagerly snapped up
. . .u- a. -i,nin nt hours trade.
' atS Vbe demafd fell -off. and with
this came a drop in price to B2. a quar
tcr below lant nlghtfH closing figure. In
explanation of the recent rise In UiU
Hsue. it is said that last year a re
p,rt will show earnings of about M
a share, ond that an Increase in the
dividend rate is in prospect.
Electric Storage made a brisk start,
i- i,.r..n 101 V, and 102. at
ru.klt.i if . .,n -V. from jester-
: day. and held the gain rnost of 'the day.
i Pennsylvania Railroad. Philadelphia
Electric ond Unlteu was iraii.
were other issues which caroe In for
dome attention, wltn out iraciiomu i
I'hanges. Pennsylvania was weak, as
was also Lehigh Nuvigution, the latter.
nt one time, being off a half point.
I Transactions in bonds were limited, and
th whole list in this department of the
exchange was practically neglec ed.
Ketone Telephone first .Is and Lnlted
ItnlluuyN T.s both sarrltieeil a full point
.. .,.!.. ,.r 1l,nlltl unmount.
I ".!, " -- .11
ti. ..nfinlnntni turn in tne vmkk i
,-,rket luino y .wnnned from 8 ' Now ". Feb. O.-There was a re-
! the rule of 'nll money dropped rrom n
I .. - ... --. Ti,. mllv In stocks waB ncwal of active Helling In the cotton
market this morning in contrast to the
180 l.se Debeers Cona Mln Ltd 18U
340 d Delaware ft Hudson.. 181
1080 .. Denver Itto Grande. 314
700 . . Denver ft Rio Or pf . . H
4680 l Dome Mines 14H
300 . Elk Horn Coal 17?4
380 s Endlcott-Johnson .... 634
468 .. nrl 1H
348 .. Erie 1st pf 30JS
6200 8 Famous Players L. . . . 66
608 8 Famous Players pf . . . 81
160 10 Fisher Body 82
864 ,. Flak Rubber 14M
400 .. Oaston Wma ft Wig.. 3Ti
18800 .. General Asphalt C8H
406 8 General Electrlo 128
6284 1 General Mo torn 14 y
804 6 Goodrich B F 37 H
40 7 Groat Northern pf... 78
380 4 Gt North Ore cUa... 3K
104 .. Gulf State Steel U
104 .. Hablmhaw El Cable.. 115
200 4 Haskell ft Darker Car 88
396 Houston Oil 7314
100 1 Hupp Motor Cox 13H
100 60 Xndlahoma Ref 6)4
388 3 Indian Refining 134
300 .. Inspiration Ref 34 J4
300 .. Interb Con Corp 4i
184 .. Interb Con Corp pf. . . 144
Low
94
37
14
U4
tow
63 H
34'
80
8414
43
46
06
304
173)4
H
14
43H
86
44H
47
8
54
43
83 W
30
804
103
i6j;
884
"OM
S3
HOH
064
B8H
344
8H
38U
, 38
66
186
834
63
B8ji
34
33
1
3H
SOH
00
106K
84
13K
84
18J4
14?i
34 Ji
4H
"64
88
38
71
48 14
SW
384
68 H
374
68
73
13
234
434
22
8H
18T4
44
794
30!'
48
VA
704
29
03
33 H
i0T
244
18 V
101
34
H
134
174
634
184
30H
48
79
82
144
3H
6BJ4
1374
14
39 H
764
364
34
114
48
73
18H
64
14
344
4
144
1:80 Nt
L&Jt Cnrt.
34
37,
14
14 4
464 l?i
63 54
344
MH-f
494
86 -304-1334
OK
94
414 49
18J4
674
83
8i
43 -83H-30
01X
103
86V4
99H
120
62 -116-
67
JH-
36
8H
384
33M
804
1004
664
1
4
87 K
96 -106
4H
-
10Ji
39 -
?1K
60 -84
384
4
68
74
13H
33H
824
23 -61
104
84
794
384
K-
34
714
344
844 m
33
86
36
184
161 :
144
304
60
81
88 -14X
3J4
H
1
4
1
34
54
H
"4
"h
4
4
M
1H
H
14
4
1
W
14
14
1
11
H
V
H
4
ft
1
Ji
"14
a
lfc
H
14
1
14
'4
4
M
H
14
14
"
H
V
14
3
14
H
H
l'4
14
l?i
14
4
4
U4
T4
Dl.
rJnUi in f
348
166
34qo
2166
766
406
809
1260
706
too
1210
1060
396
Hlth
Int Mer Marine. .... 16
a Int Mer Marine pf . . . 834
7 Int MotdrrrueVlBt.pf.. 74T4
,. International Nicker . 14 Ji
, , International Paper . . 49
Invincible Oil Corp,.. 34v
I)..-.... !'l
1
14
14
C8H 1J
13S
144
89 H .
794-334-34
734
13H
846J
16
344
44
144-
4
14
1
14
4
Islimd Oil
. Jewel Tea 4.. ,9M
. Jones Iiros Tea...... 344
,. Kan City Southern.. 264
4 Kelly-Sprlttgneld Tiro 444.
t Kenneoott Copper . .. '194
. Keystone T ft R 14H
8 Lackawanna Steel ... 8414
11643.80 Lehigh Valley 41i
3 Loewe Co 37
368 t May Dept Stores .73
19461 is Mexican Petroleum .,1864
3606 1.00 Middle States- Corp.'.'. 13 Si
3166 a Mid vale Steel AOrd.. 314
166 .. Minn ft St Loul-Tw... 12
144 7 Mlnn-Bt P & 3 Rt It. . 71)4
168 7 Minn St P & 8 StM pf 63
1769 ,k Mo VCiinsas ft Texas.. 3
300 ,. Mo Knneaa A'Tex pf . . 45
100 ., Missouri Pacific 184
406 . Missouri Pactflo pf... 40)4
406 ., Montgomery Ward .. 17 '
760 .. National Con ft Cable 44
60 . . Nat R R of Mex 3d pf 6 Ji
100 .. Nev Con Copper; 114
840 6 K O Tex & Mex:.... 7
1266 0 New York Central... 734
3460 . . New York N II ft H. . 314
666 7 Norfolk ft WcK.terrl... 89)4
190 8 North American 88
16206 7 Northern Paolflo 844
660 6 Nova Scotia fl ft C, . . 34
1200 40. Okla Prod fe Ref 34
168 2 Orpheum Circuit 37
160 8 Otis Elevator .'124
40 .. Otis Steel .,,..,..... 144
106 . . Pacific Devet Corp. . . 14
688 .. pacifio Oil w t., 14
6000 6 Pan-Amer Petrol .,.. 74i
499 0 Pan-Amer B 884
8611 s Pennsylvania R R... 444
600 .. Penn seaboard Steel. flT4
466 3 Philadelphia Co 334
1600 .. Pferoe-Arrow Motor . 1H
400 .. Pierce OH 104
100 7 Pittsburgh Steel pf.. 80
606 .. Pittsburgh & W Va.. 364
too 4 Pub Serv Corp of N J 62
200 8 Pullman .....1684
400 8 Punta Alegre Sugar.. 474
1090 4 Pure Oil,, .' 34S4
too 1.34 Rand Mln Am Shareo 324
600 1 Hay Con Copper 13J4
7090 4 Reading t"4"4
1610 2 Headlntr 1st pf. k 434
400 S Heading 2d pf 844
1000 .. Repio steel : 324
7400 6 Republlo Iron ft Stoel. C64
3006 0,30 Royal Dutch New YU 694
700 .. St Louis SarT Fran... ;i?
SOD .. st Louis Southwest.. 2Mi
340 .. Saxon Motor .1 4
loo . Seaboard Air Line... 6i
800 8 Sears-Roebuck 88
409 .. Seneca' Cop Corp. v.. 17K
100 .; Shell Transport 404-
8100 ,. Sinclair Oil 214
200 6 Slosa-Sheff 61
3100 0 Southern Pacimi 864
istoo .. Southern Paolflo rU.. 194
700 .. Southern Rail 334
200 7 Stand OIJ of N J pf. .109
404 3 Strombers Carb 38','
13090 7 Studebaker 684
209 .. Submarine Boat Corp 9
1100 3 Superior OH Corp.... 10H
180) 8 Texas Co 3'4
4300 .. Texas ft Pacific 24H
8500 1 Texas ft Pac C ft O... 33H
40 . Texas Pac Land Truit207
100 .. Third Avenue 18H
400 8 Tobaceor Producta . .. 34 H
904 .. Transcontinental OH . 94
400 3 Transuo ft Wma Steel. 474
100 .. Union Oil 3214
1400 10 Union Paclfla 120 Ji
1660 12 United Fruit 108 H
1304 8 United He tali Stores.. 464
208 8 U S Ind Alcohol 8S(
400 ..US Food Products.. 23 H
144 ..US Realty ft Imp... 48
1800 ID S Rubber 76
8890 S U B Steel 3K
300 7 U B Steel pf. ...... ..110i
3064 0 Utah Copper ......... 664
3460 4 Vanadium Corp 87
460 4 Va-Carollna Chem ... 374.
106 1 Vlvudon Inc 7
800 Wabash 8H
3(0 .. Wabash pf A 31'
604 .. Western Maryland ... 144
1800 ... West Maryland 2d pf IBJi
109 .. Whoellng ft L E 9J4
306 .. White Oil Corp 14 Si
360 1 Willys-Overland 7J4
764 .. Willys-Overland Pf .. 844
166 .. Wisconsin Central ... 844
806 6 Worthlngton Pump .. 60
x-dlrl6end.
t Kx-rtuhtf,
IOW
144
43
74J4
1414
47 H
33H
Jl4
24
19tt
164
164
4
84
82H
16 Si
73 Si
168
134
36 M
. 12
714
63
2W
4)4
194
464
10 Si
4)4
4J4
1154
74
72
31
98 '4
45
114
34
m
2?
134
14
14
34 K
744
874
464
134
33
34J4
164
80
34
62
198
47
34
334
13K
834
63
44
31
64 H
494
21 H
244
4Ji
64
SB
404
244
61
764
1HJ4
234
106
374
674
04
BJi
43M
23 H
31 Si
367
18Si
434
9
IH
334
1304
197 ft
444
684
234
48
C84
834
1164
"N
36
37
7
H
2054
li4
18)4
8J4
114
74
344
344
49i
, 1
1:30 Net
Wst Ch.
18 J4
63
74J4 H
2U H
i
3614
484 M
194 Jj
144- H
84Si
83H ,?
17 "H
733
1644 1V4
H
W,
GOODYEAR SUFFERS1
SLUMP ON THE CURB1
. .... v
1 u zxmmaanm , ,1 i mLi
fetock Sells Off' 5ya Points on
Turnover of Few Hun
dred Shares"
13S4
314 J
13 r.
7IK 14
93 .
34 ..
64 V
1V5 V4
4647
17-
4
31H
3H
48
B44
a5.
37
136
It St
344 W
78H K
684
464 4
J3KJ '
33 a
34 94 -'r A
104 .-80-8
384 4
63 14
1684 IV
474 4
34H
81H-
n -
84 -
334
CSJ4
664
314
H
88
Va
464 244
41
794"
184
234
169
384 IK
484
8
19 -434
344
31J4
367 ,-184-44H
t4
434-
234
130K-
1884 14
464 J4
68Ht
234-
48
U8S4
83
1144.
36.
364
37 -
1
84
2854-
104
184
9J4
14)4 . .
74- 4
344 1H
344 34
40 H
New York, Feb. 0. The most in
terestlng feature of the trading on the
Brood street curb today was the violent
decline in Ooodyear Tire, which on the
rale of a few hundred shares dropped
Oftpotat to 14. The movement wag
based wholly on the provisions made 'in
Uio plan for financing the floating-'debt
announced yesterday, the ptan Inclad
Ibg theMssue of 000,000 shares' of new
Common stock, Other Industrial were
generally steady. Inter-Ilubber. con
tlnucd active- and anld nt 1fl iAtn 1.1V.
.. .- - "r: --; :.."."" .7 ?. .
t u-u1Cr mnc was soown in united
ntotcs Steamship which nn traded in
k 7B iu i7d var J'igiit was aisp
nctive, selling at 2 to 3. There, was
continued domond for British .American
(Aooacco in wmcb a larjre volume ot
business was transacted at 13 and
13. Indian Packing, which bis been
in demand .for some days, also held
firm, selling 'at 3 .and 4. North' Amtr
lcan I'ulp, wns unchanged at 5'A.
A 'little; life was shown In Unltod
Retail Candy, which moved up from
8 to 8?4. flweets was "unchanged
at 2H.
: Ryan Consolidated "as in supply and
Hold nt 10 and 10. Htandard Oil ol
Indiana ranged from 08 to 07V& and
Anglo-American sold ot 18ft to 18
International Petroleum was steady,
selling at 15 to 15.
Leading mining stocks, while less' ac
tive, showed a Btronjr tone, especially
Eureka Croesus ond Doston-Mootana.
INDCflTTtlALS
Financial Fabfe-rNo. !
.Onco upon a .time a salaried man- saved a little hioncy and
- made up his mind to Invest these savings in a few shares of tho
bottOT-gmdc listed New Yotk Stock Exchange sttwritles. '.Ha
waited many months for low prices, and low prices-camo .but
ajrain he waited for lower prices and price went up;
Mornlt Lott opportunity U the preacribed penalty-for tfiotc
xcho httitate, ' ' ', '
How to buy stocks on our Partial, Payment Plan a 'small
sum down, a small sum monthly is explained in our booklet.
'Saying and Investing," cheerfully sent on request
Alan A. Alexander & Co.
STOCKS am BONDS
COLONIAL TriUSfBLDO., PHILADELPHIA
IWIIt Ijeort 6840.l-t.8-4 nraath Offlrv
KrrirtelMl 1871 . ttrMcHon. K. j.
i
H
4
4
4
1
V
14
54
14
14
4
4
1
J'4
H
1
4
4
14
54
"54
-
3
4
H
4
14
4
U
54
14
4
4
14
H
14
4
14
4
H
!4
H
?i
H
Xcmt Coal .,.,.,....
Hrlt Am Tob coup,...
Car Lljht
Empire Tabt ,..i,,..
Ooodytsr Tire ......
Ooodyear Tire pref . .
Hiunee nnimnr "A".
Kalnea Knitting- "U"
HftltK Knitting- pref
Indian Pucklnr
Inter Rubber
Durant Motors
Amer Writ Taper ...
Nortu Amer Taper .
Perfection Tire
Jtadlo uom .... 2
nadls 'Com pref 2Vi
noyal llaklng Towder pref &i
Stnivl a A Klectria..;,. 12
Stand On & Gleouls pret 3GS
Qw-eeti Co !iU
Triangle Film H
u s HWp Corp 1
V R attun U
UAIird Trent aoarinr .... 1H
United Ilet Candy KK
Inter Trade Mark . OS
STANDABD OIM
Ando-Amer Oil 18H
ata
It 4
ffl WL US
The
Market Outlook
Tht Uift istuo of our In
vestor's PUvUw commnti n
tt liquidated condition of th
curity marltst, and g Iros som
datair! Information on
American Tel. fit Tel.
American Smelting
Mexican Petroleum
Crucible Steel
U. S. Rubber
Studebaker
Market Isadora ar summar
ised, giving- price changes on
U. S. Steel, Reading IU R., Sin
elalr Oil, Atlantic, Gulf and
W. I., Central Leather, etc.
Ath for a Ir copy
BdtjREAU & EVANS '
itemttr PhlladetphUi Btocie Bxottanga
130 South 16th St.
PhlladelphU
Loxrutt Sttt noc UOS
Wert Phila. Office, 7 S. B2d Street
Wm. R. While, Manager
Phone: flelmon SS
8tand Oil of Ind new
Stand Oil ot N T ...
340
19U
08
342
Hi
ax ....
lied Oil
noorra Oil
Ilceton wyomlna-
IfDKTE?n)ENT OtTJt
10.
IT
1
3H
18
Carlb Ssnd
Clllcn Service "W ctta.i
Klk liaaln Tet
engineers Tetrol . .r. ...
Federal Oil ............
(Irnnada .
Int Tetrot 18
Amer Fuel 4 Iron 1'
Marlnnd of Det , S31
Mexican Tan 4
Mountain Troducte 8
North Amer Oil 2
noble . . .
Omar OH
Tennok Oil A
Jied nock uu 1
on
IS
iot
Commodity Markets
Investors "Oiould ask
for our February Bond
Circular. It lists many
attractive i t s u c 3 of
Government, Munici
pal, Public Utility and
Railroad bonds which
vc arc recommending
for investment.
Harris. Forbes & Go.
rine Street. Corner William
NEW YORK
PHILADELPHIA OFFICE i
Widener Bide
COTTON MARKET
to 7 per rent. 'J. lie rally in iiur.it n
abrupt ami emphatic with (.trenRth
beini; Imparted to almost every group
In the lift, ami gave, o hint tn tin- Ix-ars
to cover a part of their commitments.
The plrit-(l rally wan not confined
alone to the MooV: market, but exteniled
to grain and cotton, wheat rising neven
cents a hnhl. Thn Imp.'tna yas also
felt in the foreign exchange market,
where .terling was boosted .inc to
o iii: uWfh uiih onlv '4c below the
hleh of 'the year The cusin;
Allied Divide
covering movement lata enterday nnd
initial prices were 10 to 2-1 points
lower. Ilecauhe of poor trade nnd
financial conditions, Liverpool cables
showed creoter declines than had been
due at tho hour of the local opening, Jaiio Divide
nnu tuiR. witn hoi tacrn ami snot nouao i iwiener
selling, -weakened the undertone.
A little Wall street covering fur-
nlihr,l nhont thp nnlr ilmnnd eftrlr nnd
of rutes priens were about "2 points net lower.
LOCAL MINING STOCK8
TONOTAH STOCim
ntd
Caah Hoy OH
Jim Ilutler 10
MacNamara 00 H
MacNamara Creacer.t 10
Midway 11
Mlzpah Kit 10
Montana 0.1
North atar Ot
Keaeue Gula 'JO
Toraipah Kit IS
tVeit Knd 01
Welt Tonop&h 10
PIVIDK STOCKS
Yst, To'lay'H
cloe open
Maixh 1S.7Z lft.Nl
Mtr 111.' 1.1. I3
July H 41 14. ai
October 14.75 M.SH
Ueeember It PS U. 70
Hid
11.00
noon
18.50
18.97
14.8.1
14. M
GRAIN MARKET
.01
.0.1
OS
.04
r
E. H. Rollins & Sons
Tnumled lKie
Investment Donds
1121 Chestnut St., Philadelphia
Then Wpriice fttOO
notion yaw York Wilket-tlnrrm
BolMmore Chicnpu San Francisco
I. u- "- - --- - , - . . ,
i.. hnwi t mnnev dpiiiu nrni iufc-
ith- market from various sections of
(th.' county and an ab-ence f with
' driivnli by the government.
ai-v,.v... r not tln recover will he
'sustained remains o bo seen, but thej
ndvance has crentea, for uir .u.
more honeful outlook. The market had
become a purely profesalonal nltair, aimgo, Feb. ft. Support in wheat
-., .1 In dtlll times. aS HOOD UN , . .,. J',I,. ,n,-n , ,S. mnr.
in stock showed an advance, u Hood ot , ket wng w,nter Yesterday's best buy
. telling orders made their appearance, crg wcre tmong th, leading nellers In
' the early trading. It was believed tnai
j-PHterday's sharp advance was due
principally to octlve covering In an
I nvoranM market nnd tho elimination
." "'of thn hhort interest thus weakened the
e 1 ,-nbntcnl nndltion.
-hge. , ' . ,... . .l. .iAn.clf
Anoircui nirruKi.i u. vuc ,v....nv-
pnsh nrtlele was not without effect, nnd
there was hesitation In i-ome quartern
alwut pressing the selling side too fnr,
as it was thought that there were fur
there export contracts to be closed.
March opened nt ?1 fiOft to $1.00.
against $1.02 at the end yesterday, nnd
moved up to $1.01 '4. MnJ "J"1?'1 att
$1.52 to $1.51 Vi. against $1.53 at
tlie closo yeatenmy
disorganizing price.
Philadelphia Stocks
135 Am Strs
HKI.
OT
1 15
p m
0
m i-hge.
:
104 Elec Btor'102 101 j 101
o uh Nov. w., my, oji- 5
271) Pa II U.. -l"Vj V, W"3
11 I'hlla to
rt.m nf.. 'Y,i '.n 'l.i
180 Phila Ek-r 22,
10 do pref. 28
10tHou Pac. 711
r. I'n Triu . :i"s IW-v,
H5 UGI. 34 34
07 do prel iu',h
lOOtrS Steel S3 'A H3V
;n
22H
2S
7IT
2
28 ..
7!)8 . .
30',
MVyr
40..
83'i
l
B'&
II
tet
in
m
State of Idaho 5s
Due 1941 (Optional 1931)
97 & Interaat
to yield 5.20
Inquiries Solicited
Net ehana-e m'l t- comparuon im
.1 on New Y-rU Htl Uiciiinao.
Kingdom of Belgium 8 1941
Gulf Oil 7s, 1933
Tide Water Oil 61js, 1931
U. G.J. 8s. 1923
Pcnna. Water & Pr. 5s, 1940
LusemeCo. G. 6t Elec. 5u, 1948
AtCown&C&
Utttilim Land Title Bids. " "
Nivj York Ttl. Connection. C'anol llll
Ha'. Id
tinno
i iy iei
5s
1 Lehigh Vol
Coal 5s .
1 7 1 5 Llblkmds
2l 4V4S..
5 3d 4..
4th 4ih..
1 Vic 44H. .
Phila Elec
1st 5s reg.
2 do 1st 5i..
1 t'nlted Ilwy
Invest 5s.
IIONIN
Ilitrh !.
03 05
I).',
nr.
1 15
p m
05
(15
Set
t hue.
Jl7 1 :
M 4(1 Ml. 10 RO
IKI.IOIKI.K) W1.10.12
80 00 80.110 HO. 00 .00
07.20 07.20 117.20. 04
Corn was easier under selling by east-
iraue wan
ern commission cum-erun
""Ma' opened at 07 He to G7c, against
Htnrted lower, at 00c, and receded
Onts were quiet and easier. Com-
opened l.tiUr i ! , .ta.t 44c
4- o, at the end yesterday. W ,?'?
ifil 12 lower, lit Wic and later U at 44c.
Helcner Ext .1
nn Hur
irrouKh Divide
Divide nt
Divide Bnyi
Divide Con
Dividend
Kait Divide
Karmlll
Huebrouck Divide
Hlah Divide
nevert Divide
Renn Divide
ltoaetto
Hllver Klnr
Tonopah Divide
Tonnpah llanbrnuck ...
Vl.tnrv nivlrif
verae uiviae "
Zone 21
OOLDFIKLD BTOCKH
Atlanta 01
lllue Hull 01
Ilooth
COD
Comh Fraction . . .
Crackerjark
Dlnmondneld lllue null
Daley .
Florence .... .
noUMf lit Con
CloldAeld Merte.- ....
Oold Development
Oreat nend . . . .
Jumbo Kxt . . . .
Kewanae
Lone ritar
Oro
nert Mile
Hllver Tick
Hpearliend
MJSCBI.LANEOU8
Amnaro !??
Arltona United
Kden
Mother I)de
Nevada Hill
Nevada Wonder . . .
Teropa MltilnK
White Caps
Wlltwrt
14
2S
02
.02
.03
.28
.01
.6
.03
.02
.01
.02
04
.OS
OOtt
.01
.08
.01
.87
.07
,6i
.01
.00
.02
.Ot
3.00
.07
,04
.10
.10
5.25
.01
.23
.on
,os
02-
Ak
.no
.10
.ooA
.18
.12
.00
.00
.22
.02
.04.
.OS
.06
.01.
.in
,n
01
n.i
.04
.04
80
.03
.01
.05
.01
.04
.01
:oi
.o
.04
.28
3
.02
.04
.02
.11
.02
.01
.40
.09
;8
.02
.10
03
Iooh
4.00
:?
1.40
.14
.20
5.60
.02
.2S
.10
.(ri
.03
Financial Briefs
The average prico of twenty actlvo
Industrial stockslncreas.ed .74 per cent
to 75.54 yesterday, while twenty rail
roads gained .34 pr oent to 74.01.
Total money In circulation Kebroar)
1 was 15,141,205,012, ngulnit 15,154.171..
213 February 1, 1920, and against IS,.
340,435.712 January 1, 1921. Ter capita
circulation February 1 was $67.10 ;
January 1. 1021, $59.12, nnd February 1,
1920, 164.94.
Ilvan Cms
Salt Creek Prod ,
Hlinms I'et
Skelly OH
Victoria OH new
Wood bum
Y Oil
MtNINO
Alaaka Dr Columbia . ...1
UU Lediie
U00U1
Iloatow & Montana. .......
Caledonia Mining
Calumet A Jerome ..,.-..
Candelarla Mlnlnc
Cona Vlrelnla
Cortez Sliver ,
Creseon Oold . , '
Crescent Miic.S'emara , . .?
Dundee Arl: .,,...
Emma Milter
Kureka C'rrwiut
liureka Holly
Oold Cone
Oolddeld Florence
uoid Kewunue ...
Oold 8ller Tick
uoid zone - It
Great llend 2
llecla Mlnlnr 4S
Iron Iiloaiora '..... li
JumtK) Kilemion 10
Knox Divide . .,. 14
MacNamara 17
Macma Copper 25
Marsh Mlnlnr 1 .'. 0
Mother Lode 88
.Nipissinr sv
o
n
A ,7 Mortgage Bond
Convertible To Yield 8.25
We offer an obliga
tion secured on ten
modern manufactur
ing plants of a com
pany which is the
largest of its kind in
the United States.
Earnings for the past
year six times Inter
est charges, and in
creasing month by
month. Convertible
after April 1, 1922,
throughout the life
of the bond.
Write for Circular ESQ
Hemphill, Noyes C& Co.
Vemfcere Nw York Stock Zichtnfr
Franklin Bk. Bldg., Philadelphia
New York Ooeton Scranton
Buffalo Albany Syracuse Batthnerv
Colombia Gat & Elec Co.
FiMt Mtwtf. 5 BoBdt
Price to Yield 8
Th Company servoa throurfi
Kubsldiaries, gad, electric
power and- electric light to
Cincinnati, also owns a ma
jority of the' stock of a com
pany supplying fflit at whole
sale to publle utility eompa
nfes operating in Plttsburnh,
Cleveland, Louisville and other
cities, M wsll'sdlroct: service
to many municipalities.
This issue is followed by
junior bonds and stock having
a combined market valuo of
over 131,000,000, rcpreBtmtmp.
an equity in the ratio of
almost three to on-.
Groes earning tot' tlte'lnst
year were over $1,000,000
and net earnings equal to ten
times Interest requirements on
these bonds.
TFrife for CirvuXar lr-SS
A. B. Leach & Co.. Inc.
Investment .Securities
llSSotith FowtJ, St.
Bell Telephone, Lombard 23?
Investments
Bonds
Wtettw Brothers
DM CMagrrNUTaVniaarr'
PhlradelphU
Lombard 1S48
Steel & Tube Co.
7 Bonds, 1951
isa"asa
HARRISON A CO.
BANKBBS
W SOUTH FOURTH IT, PHIL.
Afeinser- .Veto york and
Philadelphia Stock Kxchanyt
North Star
Ophlr Silver
I'rlnre Cona
Hex Cons
Rochester Mines . .
San Tov
Hllver Kins Divide
So Am V A O . . .
Htand 8ller Iad
a. ..... .ii
LneltAw.-xnna Hteel reporta for ycar.Tonopah'lielmant' '.
ended December 31, surplus, after allTonopah Cash Hor
ennrres ana taxes, 4,ij,jni, airnmHt onopan uivioe
!
'j
txr,83 In 1919.
Tenders of Phllit'lelphla Co. three-year
6 per cent secured gold notes, limued to
the Union Trust Co. s trustee, will be
received by the truatecn up to noon Feb.
ruary 17 to an umount not exceeding
1400,000.
Tonopah hUtetislar ..
ronopan.jim iiutiar . .
Tonopah Midway . . . .
Tonopah Mlnlnc
Tonopah Mlipah
Tonopah Montana . . .
Tonopah Hescue Kuta
United lUslern
Victory ,
West End Con
White Caps
Wllbert
riat Palladium
- 'Th irovernnieiil will withdraw 122 .
000,000 from the brink In the New Vorlt
umiiiuv luiiiuiiuw, BAND1)
Stroud & Co, luinotlnc that Footer' -Mi1? ?'S,k.u .!: ij 2
Marsh han Joined the bond department AnaoondV 7s. 1020 ,"
vk iiici, . ,i.auv,u u"'vw : t;eaer lioara n
v can Na
Tho annual report of tha Continental
Can Co.. Inc.. for the year ended De
cember JI. shows surplua after depre
elation and federal taxes of 11. BIS, 820.
equivalent, after deduction of preferred
dividends, to S,l a anare earnea on the
line common atock
--
lts.soo.o6o outltandlnc
aa compared wlth'jstirplua of 12,621,963,
or 117,68 a share m the preceding year.
Reserve Dsnks' Discount Rates
nrriefal rediscount ratas at the twelve VcA.
eral lteserve funks are as follows:
.iii. . tint i iiars.
Ilonds. Taper, Accept,
u ,
UT4
tiau
nil;
101H
ion
09,
-r
04W
lOtH 1
ins i
BUN
ut3i
s.
If
03V4
?9
neton
New York .
Ph ade phla
Cleveland ..
nichmona . .
Atlanta ....
Cnlcai-o . .
HI. I-ouls ..
Minneapolis
Kansas City
Dsllaa ....
San Tranclseo
Tnw.
. n
. s
.t
J
.K
:U
.t
t
nw i
& a
II o
nv, 7
T
f,i a
B 7
0
m s
8 8
srMi
fitVj
on
S.1V,
81
H45-
00 on -t
I GEO. A. HUHN & SONS I
fts'
BTOCKH AND UONDS
nbrff o'.l IMiIlBilflpiilri. iVrw
DO viuriiwn nnirif r.srnnnitfj
kfakasa VAru iiinn cirnints
CommUalon Ordtrt ExtcuUd I
Ail lam rnnsipai oiriti
MUXKVUt. CUtllT llUtu,
,n,ttlVovrc
II Hruauwar. nw un
11
Atlas Powder Pays Cash Dividend
Nrw Toek, Feb. 0 Atlas Powder haa
?.',m SVMiAttr. u. M .for
March 10 to stock of record February 3B
Three months ago u stock dividend waa
declared In addition to the reamlnr cawh
dividend of 3 per cent.
15000 Damages for Boy Hit by Auto
Wlliliim .1. Cuiiiilnglinrii. fourteen,
years o'tl, who was permnnently erlp- .
.pled In an mitonioblle neeldent, was
awnnletl a Tenllct for $.'000 In Common
I Pleas Court No. Ti vr-strrilar in a suit
. lirouk'tit iiKslnut Ilcnjamlii Humll to re
cover for hU Injuries, Tho boy was
struck by the defendant's automobile on
Februnry 11, 1010, nu8tiilnfr injuries
to Ills bodj and legs. " 0
FOREIQN EXCHANGE
v Vnru Feb 0 Under the lead
of Htcrllnt:, the foreign exohanBe ot
the opening, where therb were, chnnares,
ahowed decllnea Demand aterllnr, at
3.87W. and cablen at J.8IJ4, was down
lc from yenterdaya final, and a loss
of lVo from tho hlith record eStab
llehed on Monday Franca showed a
loss of 4 points nt 7.17 tor capjes and
. ,n fr,r rhnr.kx Iiro wore only n
half point lower, ut 3.66 for oMiles and
3.61H for checks. These ftBTirea showed
a lone of ltt from the beat yesterday.
Other quotations were:
a.,.1.. .nhi.. lr. ID: oneckH. 16.17,
O.u'llder cablB, 34,28; check, 34.16.
Penetoa cablea, 14.07; checks, 14.05.
;,.i.i,i ,hi... ! If. ; check. 22.06.
ChrlstUnla cablea, 17.56; ohecka. 17.46,
CopenlmKen cablea. l.40i checks. 18.30.
Ilelitlnn cabins, 7.48; ohecks, 7.47 W.
Marks, 1 66.
TESTI'.IIDAT'H rTMAI. qiTOTATlONH
flterlln PYancs IJre QulMer.
?jK;r nr fi? :on im
TODAY'S OI'ENINCI OUQTATJON8
Hl.rllnsr Franns I.lre (lullder;
.K7'i 7.KH.
3 bVi 7 17
Demuli'l
Cables
Mre O
S.iHtt
8.00
84. t
31.2)
Liverpool Cotton
T.i..rnoi. Fb. a. There was only a
limited demand for spot cotton today
with prlcs Bteady on tho b as la of nn
advance of 10 polnta for mWdHnB nl
b i. iAa u,r 3noo halea. Tlie
receipts were 26,000 bales. Including 19,-
200 nalea American. r" JJf"
steady In tlw early ''anff"-e.iPiM"
were: Amcrlcnn. middling fair. 11.78d
wood jnldrtllnit, 11.40; iuy " i'33i S'
8.98d; mlddllnK. 8.Udi low rnWWnt.
6 98d; cood ordinary, B.48d, nnd or
dlnary, 4 M,
MONEY-LENDING RATE8
NEW YOIIK Money on call, both
classes of collateral, opened today at
7 per cent for lcndtnn and renewlnr.
PiilL.vnm.riilA Coll, 8 per cent;
time, G per cent; commercial paper,
v.. tn ... nmnlha. 0 Der Cent.
""if "" :' ... ...1..1
(Note 'rneae wi iimw i
quotations, u.t the legal rate pf Interest
In the state of Pcnnoylvanla Is nxed at
0 per cent, Plua premiums ond comrnls
alon. time money for thirty to ninety
days, Ik loaned at 8 to IS per cent,
while commercial paper, from three to
six montha, la being offered at 8 to 8 H
per cent)
BANK CLEARINGS
Rank sUarJnis today, compared, with
responaina nay iaai iwo '
(1
Stt
11
0
fl
per
Can Nat n-v 7
Cerro d l'aeco 8s..,,,
Cons Uaa Hs
Chicago Northwest flU.,.
Galena 7e
Oulf Oil 7h
Ooudrich Tire 7s '.
Gtand Trunk OH.
Helm Co 7.
Interb IUp Tr 7
K4inecott 7e
..VtV X.,M .0 I .... , V. U4 !
Ohio Pities 7s, 11121.... (ID 00 99
8eiiriUobuo 7-.. 1021.. HH 08H 8W
tnirsiioeucK is, loss., vn us u
Mnciair 7"8
holvav He
nnllthw... T.ll
B O of N y 7s. U2rt..,.101 101 101
B O of N Y 7s. 1021.. 101 10JS 101
(t O of N y. 1J30 ...10244 102V4 102
B O of N Y 7s. 108i.,,.i03S 108 IDS
vn-caro cnem 7'ie,,,. 0S ni 08
inr., vu -iti eu eu D.t
I Hnln lUn DO aif. So
A REAL
BOOK OF
GRAPHIC
CHARTS
Covering the price
Wrtory of all active
Stock Exhnge i
aoes 'ha been pre-'
pared by ut for the
use of investors and
traders.
While the edition taste
copit will be gladly tent
upon receipt or tve .tn
afamps to defray cos of
mailing. Write for Q-t0.
GUTHRIE & McGOVERN
Memberi Phila. HIM Eirbant
1430 m
GRAIN ,
PROVISIONSOTTpN
Our Dally tetter Btnt on Hequttt
Hughes & Dier
I niratonjSrtI of Trad.
d-if !".Krnnnia
1 WflWliartK!l!..-
1435 Walnut Street
sea 1S
nenbera
Bpmte S4S
Philadelphis
fJorote 6416
Sew Yerit
mith renn Co., rilla,
Rati iaa-i
Si Itreadwsx
Canadian Pacific
Railway Equipment
Trust 6s
Various Maturities Yieldin
Prom 6.25 to 640
Townsend Whelen & Co.
303 Chestnut Street
EXPERIENCED SALESMEN
Who can soli foreign bonds or
stocks acaptioaal pr position.
Henri. A Berahartl Wolf
ft Co., Inc.
1320 Walnut St.
uos oovi oou
loot noC ieK
U.7. ift osft oH
a per cent on paper secured by Ik-
cent rerllncates. and 0 per cent or? paper
mired by 44 per oent and ft per cent cer
tificates.
tpiscount rate corresponds with Interest
rate borne by certificates pledred as collat.
eral. with minimum of 8 per cent in the
case of Atlanta. ICaneas City and Dallas,
and 5H per cent In the ease of Cleveland,
nirhmomt, Chicago, flan Francisco nnd
rtillodeipnia
DIVIDENDS DECLARED
Crescent Pipe Line, quarterly of 78 cents,
parable March 18 to stock ot record Fep.
ruary 21.
1. Vt. Woolworth Co, quarterly $1.78 on
preferred, payable April 1 to stock of record
March 10.
Prices Advanoo on Paris Bourse
Vnrls, Keb. S, Prices advanced on the
Itouree todav. Thrco nor cent rentes.
67 frnnca 80 centlmea; exchana-a on
francs 26 centlmea; 8 per
rne
9C4
LIVESTOCK QUOTATIONS
tlhlmfo, Tsb. fl. 1IOOS r.stlrnsled
Jms-o,
s. 48.1
eelpts. 28.000 head. left over. 11.482 head.
Practically, nothing doing-; asking steady to
strong with yesterday's aterage;
apou
hiddtiu
ut like yesterday's eloss. to.nn ).M for
ISO to ISO pound averages,
CATTI.K Eetlmaied receipts, 7000 head.
flHEEP Rstlniuted recetvta 12,000 head.
llttsbiirgh, Feb. 0 1IOOB neeelpte.
1800 head. Ixiwer. lleavlee. ltOO.38;
heavv yorkers, light yorkera and pigs, 17,40
W7.80, .
BHKEP AND I-AMIIR lWcelpta, 800 head.
Bteady. Top sheep. 13.80s top lambs. 10.
CALVES lecelpts, 21 head. Bteady,
Top. 814,80.
K-el BolTala, Feb. . CATTLE lUcelpts.
light. Bt'?y- .Ca,v"- receipts. 78 head.
nteanri euv ..
Indon. 84
cent loan, 88 franca 98 centimes,
dollar was quoted at .S francs
centimes.
HUUB inCTiun, iiiuii naaa, r.igni.
strong: good weights, weak. Heavy, IS.SOce
0.2M mlied. I10 10.50; yorkers. I10.78O
111 light yorkers and pigs, ill: roughs. 17.23
mil 1D20
180.460,435 178,078,380
1010
Holiday
r
Porphyry Copper Production
vw York. Feb. i. rrellinltinry con'
tier production Attires of Utah, Chlno,
Hay and Nevada Consolidated Copper
Companies In January were In poundai
Utah, 7.600,000! CWno, f 990,781 . jy
2,081,000, and Nevada, 3,000,000.
. All-aU-VE ,
Dar silver way H'd hlrtjy In Lon
don today at 874.
4
.A.
.
)VAe
-i-. -a.-,. I'ifn
ur.nui -'.
BHEKP AND.JJl.MllH ltecelpts, 8200
hsad: Imba, IBc, Higher I.ambs, ISO
10.28; others unchanged,
Kast fit. IaoIs. 111.. Feb. 0, CATTI.F--Tlecelpl.
950 head, Nlor. Few early
sales steady! slower! undertone now devel
oping on, steers and rows; 18.28 paid for
rhort load fleers! veal calves easier. Top,
(12! hulk, Itl,6)ri2.
mxin nrrripin, ... ni.o need. Fairly sc
uy'i rinse
ago. Top.
top on mu
mMi.umi,
or atmut steady with the over
M;J ,"1 Jlchl J'!,.P7fI B-78
n 'J(Xt butchers! hulk llahl. ..
. tO.2SWO.7B! bulk. h.Ivl.. ij ti
OS.2S lully coodi heavies moving alow
Hiiwr.riieceipxs laiio nead. Slow. No
ar!y IrAdtngH undertone weak and lower!
quality goodi run mostly westerns! about
1AO0 head throuali and 7AA dlr in ...K
which together .with between. 200. and Sood
p.viusr uic pnrep IC
tonai;ions.
hold overs from -yesi
marketl this
y are sheen fnr ih.
U over supply under present
The Steel & Tube
Co. of America
General Mortgags 7s
Series C.
Duo January I, 1531
One of tho three lnrncst
manufacturers of steel pipe
and tubular goods in tho
United States, this company
oarned in 1020 7 times nil
interest charges, including U1I3
Issue. For flvo years, these
earnings huve averaged C
times these same charges. A
Sinking Fund 1b provided to
retire this series of General
Mortgage Donds by maturity.
Pries: 95V and Interest
To Net 7.40 Per Cent.
Biddle & Henry
104 SOUTH FIFTH ST.
In This Critical Period
of Industrial Raorgani-ation
Economic Production Is Essential
Industrial Engineer, at present em
ployed in production work with large cor
poration, desires opportunity with smaller
company. l;perlenoed In modem pro
duction methods, organisation and set
entlne management! ahle tn ntan and
execute practical, rommonsenes methods
mr inc lasen ono economic prod.
.V sin.
duetlan.
LEDOEn OFFICE
Bonds of EsUbliihed Merit
Retunung 6 to 9 Per Cent
EDWARD V. KANE & CO.
Morris Building
The
First National Bank
of Boston . . ..
Capital, Surplus and Profits
$37,500,000
Phila. Electric 6s,
1922
D.iet rrivftf TcUph
Jlt'iniXTla
...Us..
IOENNINd,QARn80NftOO.
stock KxcnAKor nijar-o
e TelephsVai te I
V
Nstt" Yettc
ininsr
3. SI. HAII.FJl T. fl. rATTON
Sailer & Stevenson
811 AND CHESTNUT 8TB.
BONDS
Tax Free, Yielding 4i, to B'o
Safe Jiondsjvr Investment
HALSEY. STUART
L CO. Inc.
mfmmmmmmmmjmmammtjtit
Stockwell. Wilson & 'Lfnvill
Certine-i Public Accountant
.tHan'ts Title Bldg., Phfldelph!
".'"' V1wJrt''i ."Ct'KVeftOt-Aj- ir'-i