nmrf-v W imrttmmynF!m - r :.T'jfl''" WP wffp WP- " -VMgk i ' m MVESTXNG PUBEICJ !LT36GfEItlHIi;ABEIiPHIA, FRIDAY, FEBRUARY li, 1021 x nw As This Entire Issue Has llcen Sold, This Advertisement Appears as a Matter of Record Only $40,000,000 Copper Export Association, Inc. One, Two, Three and Four Year 8 Secured Gold Notes Secured by 400,000,000 pounds of refined copper and the sums required for payment of principal and interest will be Guaranteed by Copper Producing Companies as set forth below To be dated February 15, 1921 Interest payable Feb. 15 and Aug. 15 Maturing $6,000,000 Feb. IS, 1922; $10,000,000 Feb. IS, 1923; $12,000,000 Feb. IS, 1924; $12,000,000 Feb. IS, 1925 (Coupon Notes in denomination of $1,000 reRisterable as to principal only. Redeemable as a whole or in part on any interest date prior to maturity on thirty days' published notice at par plus a premium of 1 for each year or portion of year between the date of redemption and respective maturity dates. GUARANTY TRUST COMPANY OF NEW YORK. Trustee SECURITY -This issue will be secured by 400,000,000 pounds of refined copper (at' 10 cents per pound) which have been purchased by the Copper Export Association, Inc., for rc-sale in foreign markets, from the following copper companies: New York Bonds ISAi.r.a iv tioon A O'it it cv a n i Amn Aircul ti Chem Si 2 004 Amn Bmeltg He fit ss rirle H II cv D 1. . . 4M, 1 ii dene"! i:io 3i 1 ... S8 Oene'l Klee 81 Anaconda Copper Mining Company Phelps Dodge Corporation Calumet & Hccla Mining Company United Verde Copper Company Chile Exploration Company American Smelting & Refining Co. Inspiration Consolidated Copper Co. Greene-Cananca Copper Company Bradcn Copper Mines Company Utah Copper Company Ray Consolidated Copper Company Chino Copper Company Nevada Consolidated Copper Company New Cornelia Copper Company North Butte Mining Company Utah Consolidated Mining Company Kcnnccott Copper Corporation Payment to the trustee, for the benefit of noteholders, of sums required for payment of principal and interest of these Notes will be guaranteed by these Companies, in their several proportions, under a contract between such Companies and the Copper Export Association, Inc., and the Trustee. ,Wc offer the above Notes for subscription when, as and if issued and received by us, subject to allotment and approval of counsel, at Approx. Yield Maturing Price Appro. Yield and Interest 8 Three Year 99V4 and Interest 8.30 and Interest 8.15 Four Year 99 and Interest 8.30 Maturing One Year Two Year Pries 100 9934 Guaranty Company of New York Kidder, Pcabody & Co. Dillon, Read & Co. The Union Trust Company of Pittsburgh Continental and Commercial Trust and Savings Bank, Chicago First Trust & Savings Bank, Chicago Illinois Trust & Savings Bank, Chicago The above Information li based upon ofl'uial statements and statistics upon which we have relied in the purchaie of thee notei. We do not guarantee tut believe it to be correct. The National City Company Lee, Higginson & Co. Halsey, Stuart & Co., inc. Mellon National Bank, Pittsburgh 2 1 1 Am T & 1 4 1 Am T & B 3 Am T t 3 1 1 . .. Oov t V 11 rets ! .. 1)3 78 77'. 77s. T elt fO 70 li 80 T 6e 81 4 T IJ 0.1 H nsi its. .vi Arc' Ittp'o .1 1 711 Alch Tepeka s'a re a) 71 Attn Topeka A S'a Fa 4s 1 . .. 7S 2 .... 78 0 .... 78 - .. 77 A Const I, clt 8 80 A : Line 4'iS 3... . 77 Atlant'c riefe 8'Js wl a ... no a. . nan 17 00 Bait A Ohio cv 1 C8'4 11 & Ohio 3ia . . . . 82 8. .. 82'1 Unit & Ohio 4a 1 .. HS'i 18. ... (18 a . .. nss 68N Hall at Ohio J. 1 f!'i 3 .... CS'j Unit & Ohio m 10 . . . Oflii 10.. 4 . 1)04 II ti O Tol 4i . . . 85 T 7 rcU .. 103i J 100 100'S 2.. 8 . 1 1.. 1 1)8 118 i mK 08 H 08 . O Hwltx'd rcta n .. ioi, 01 Trunk rets 1 . mp, 3 ... 101i 1. . 10114 IluJ A Man ft! N T Chi St Iaauls d 4i 3 73 Now York O I West'n 4 2... . 034 New Y 8uaq & Wesfn fd 1 00 N Y Telo 414 21 .... 77', Nw Y W O ft Eoat 4 Ha 1 414 Nfk A W'n 4a I. . . 77 North Western Hill Tl 7a HUH 0 1. 1. 1. 0. 2 2 Hud 10. . 4.. 3D . II) . 0 10 8 4.. 0 . N . , 4. 8 3.. 1 7 n 4. 10. 4 4. nu 8 1 8 .. out ... B4. ... OS ... 04", ... 01 ... H.1 . 04 Man In 31'i 31 . . 30. .. 31 SO . SI 30 4 30 Ti 30 30 H 30 'j 30 '4 301 30'. SO' 30 li SO 20 U 20 i 20 U 30 30 U 30 1 i 30 aot 30 'i 30'i .1(1 1, ao'j S0H sou 2 3. 2 . II 6 i 00 'a 98 i 1)0 li B0H 0(H4 00 li 3s 103 lleth S 8a 30 2 . .. 78'4 1 . 78 llkn-lidl Co 8a 1 78', nrkyn II T 7a 1 .. 45. 103i. Ill Cen 1 la '33 Ilrkn ct 7 10. Duah 2 10P.I cair o & n ,-,: 1 .. 83V; Canadian .N n1 Kla rcta 0 .. 101 2 ... nil 1.. . 101 1 1UO'i 1.. . 101 Ctl Pacific 1st 1 72. 8 Intb 38 I 12 12 10 3 l'l Met 4'4 10 H 10'i . 10'1 . 10't . 10"j ou Ilapld Tilni Met cl 4'i ta 20 10". .. 4l',IIntboro n T fd 1JMB is! 1 .. . 82'; 1 . . 02", 3 83 1 ... 83 I 83 3 . . 33 4 33 I M Marine n . .. 80'4 . . . 80Vi Jnp Uove't lat 0 . .. 81 ' 3 .... 8l'i 2 .. . 81'i 8. . 82. Jap Gov't 2nd 4 ... 82 78'. 8 . 81 'i 0 2 ... 8U. & O c 3i 13 . . 82'i 82'. Jap (loie't 4t 82 70 .. . 02 ; 82 3 . . . 02, 11 i. Q 4l 2 . D2'4 07 H Kan C I't a & 117 i Memp 4a Ct'I V H I. 4 1 . 71 C O cv 4'i 4. 1. Ck 1. I 1. Cht I. 1 '1C C T 03 i fc ri 3l 34 K S 89 . 71'i 7l'i 74 '4 niv 4a New Issue United States Treasury Certificates of Indebtedness Dated February, 15. 1921. Due July. 15. 1921 Denominations, $500, $1000 Yielding 54 Subscriptions Received at Par and Interest Subject to Allotment Frankli I5lh. St. below Market Capital, $1,000,000.00 -lAnrgi issr - VI 111.. -fRnu? - "Itli IT iSUS &! s rust Co. ji j 855" W- Ph'la. 52nd. I Market Sti 331 ifis taftV-n mw. Surpiui, $700,000.00 ANNOUNCEMENT We have this day removed our offices from 136 South Fourth Street to larger and more commodious offices at 137 So. Broad St., Philadelphia (Second floor) Jclephonc i,mi.e 3813.4.3 U'I ANDERSON, BROWN & CO. Stocks and Bonds Philadelphia New York Pittsburch . Chicago Cleveland Detroit - 1 I. 51. KAIMCU f. H. I' Wanted Choc. OWa & r.,iU 5 Bonds, 1952 )HARRS0N & CO. "0UTH FOURTH ST., PHILA. r-ii'"''a Mock Uxchaiio rchangeit Ario.N Sailer & Stevenson 3I AM rilKSTNUT STM BONDS Tax Tree, YieldiiiR 4'2 to 8 Lee, Higginson & Co. I.'klahllthrtl 1813 nuSTON NEW YOItlv CHlfACO 130a Finance Uldg., Philadelphia 1 mi J 5J,WIVvr 1 GULF OIL 12 Yr. 7s Freo of Normal Tax to 2 Pcnna. State Tax Refunded The rntnimnv linn n uinpirt 111" of $21 JI v.'.tl IM7 ii rlrprc. iu ' m rpHr.' nf ti' Tr.7 1"' i i ihii nt lin'i.iiu us.-, lis n.li'il 0bt I. onl SI I Hill inn Price 98 To Net 7V4 BATTLES & CO. Established 1890 Imlcrwmlrno Hqinm (Kn.ti UNWM&HKMM&mi GRAIN PROVISIONSCOTTON Our Vailv Letter Sent on Request Hughes & Dier ( (Minc Hoard of Trnd ( rill.lMiritli Slnrk Kirlmnrt 1435 Walnut Street Philadelphia tht $nui7 A ITIIrACIlM II V Hpruct 843 Unci 1KB J GEO. A. HUHN & SONS STOCKS ANO nONDS Mrmlieri. uf the riilUilnlplilu. v. VorU nnil riilfBBn sinclj i;Minie Nrw York rvtlnn JCxrlinnir Commlulon Order Cxecutad U All the Principal Marked UM.LIAll. CO LUX ULUU, lllh Wnlniit Ml. m:v ouk oi'Fion 111 llrouiltror. New York & LOEB Members New York and Philadelphia Stock Exchangti 1410 Chestnut St. y FOREIGN BONDS All Issues Sftul tor detailed circular I No. ass FARSON. SON & CO. Memlra New Yurli btotk KtchJns 115 llliOADWAT NV.W YOrtlC A "LUCKY BREAK" riiLlnr nihanttixi of un niUHirtunlty Hint irnt h lirnntithlr Ih ho often rhnruvterlril ill a "lurkv hrenk" Ihnl wlijom ii nil forrlirht rerrlvr lut iiiiimrrul Mltlr rrrillt nr rcrotnlllnn. Till. Idea I miniirMlonulilv .r ronentm r.nd eipreimrH typlrnllr li" IMi.ltlon of the Inilhldinil uhu nrer "net there." I'rnflU In the to(k nuirUrt uri "lit In the lone run the reiulU nf "lurk" nr linuliuinnl mir"iirk, Careful ulliilr nnil IntelllKenl upplli'ntlon of theory nrf thr 'undiimentuU of siifceta In iir iiirlty Javritlng. Our HPECIAI. I.HTTKK "1.11" illeuieK thin nuliJrit In an Intrr entlni; innnuer A.U ui 1u .end Mm one frrr. n.. .. 1)1 n . . 7VKnn -' 4 - 10 Chi A O W 4 Kan : U 1 61 ! 1 . . Chi M i- I'ue't 1 Sound 4a 1 1 . . . ns 8'i 1 CIiIcbko Mil &.K UelElum Ca St P il 4i ' 3 ... 1)1 111 .. . (11 K lielE'm 7Wa - ... wi ' a . . t7'; Chlcnk-o Mil & 1 . . filPi StP cv 4is I is 117 I '1 .... I.0H I P7 7 ... n, 3 117 hlcnio Jill & K llfiii m i" StP fd 44a I in 1 ... ni'i' 1 I . ill 4 .' 4. 3. 'I. N'n i'nclft 1 .... B4 3 S3 N'n Pacific 4b 1 77K Oregon H 1. 4 1 70; Pa It gin t'i' 0 H . . . HO 1 . 80 1'enna R II f 1 69 Pa Illl 0i" wl 1 00 U 10 BO't 8 09H 2 now P.nna ll 11 7i a.... loan Readlnf Tly 41 1 VX Hock laid A A I.oul'a. 4'i 1 07 Home Weter'n S. Ok en I.. .. B7; St 1. In Ml U H'n Rly Bi 3 87 &t I. JL H V In 2 . 18 I 4H 1 48 3. 48 St I. It a l'in Serlea A 1 OHi 4 Ill ' (I . .op; 4 01 i Ht I. L Fran SerleN O 1 .... 87 Ht I. Sow'n oi 1 05H 1! . 04. .'.. .. 04 1 1 Ht P Sioux City 7 0. IM'i bcab'd A I. aj HP. Srnb'd A 1. U 8 .... 41) 1 41)'; I. 48 Ho'n Pacific fd 1..... 77. 1'... . 77'4 So'n Pacific 4h 1 72 8'n Poc cv 4 1 73 1 70', 1.. .. 78 Ho'n Pacific .1. I... . DP. 1... Ill S'n Kallw h 4 3 . . r.9', .1 . .V) 1 . Mi i S'n Itallw'a .M 1.. .. 80', Stand'd Oil of Calf rcta I . .. 101 10 .. 101 J . 101 1 inpi 2 10Pi Tenn Cop'r 0a 1 . 8!)'. Tex Pac I hi 4 80 Tidewater oil Co 0',s wl 11811 1)8". 01 STOOCS-FOBEIGV EXCHAN'GE-BONDS MtHBiai P1IILADELF1UA STOCK EXCHANGE CONSOLIDATED STOCK EXCl!A)iGI'N.Y. 1G22 Chestnut Street I'honril nell. Spruce .1917-1300 Keyatonr, Ilurn 780 71 llroadwuy A 189 8lli Are., N. Y Stamford. Conn. 1 ... ill'i r lucaa-o Mil ft i St P cv On , I .... H8S I i' A N'wn n ln IS . . 0 , Clilriik-o i. Mh fl'ii Wl III I . I 10 00'i1 n no'ji i tOSiTSi I a nos i . HO'iitnlon ! t k V la 47 411 I'ac it Sl'J 7 . (if) i. a ... 00 'i V K of O Hrlt f. .. mil. & 1'ij loai 1 . 118'. 3. . . .' 1)1)1, .i . no i i oihi 4 ... no ; o po, i .. , I .. . DU.iKliiKilom Den. L' lv. of O lirlt II . imul mark ct 8a I'd ll)i!) 1 . IID'il 1.. . I)8ia 2 . . 88; i .. nn' H . !is. i..., . 8H', a ... nnu m . osij i.... so a. ... dim; iMiiguuni ....ii ic k or n nnt 6 90'. I "ay rt . i I'd 1037 ft no'i1 a . mo I i.. . sT4 Chl 4 Nwn 7a I 100 a 80 a . . 10.1 r.aka .shore M 1 ... 80 Chl Itallw'a TiV S 4a '28 4.. .. 60', 1 . 02 , a . . 8. V S Meli I . tlJ'j 1. t .Mer Ba 10 47; Chicauo It ll'ul a . 83, I't'd R'da San Pac fd I.ouIh A Naih I Finn eqct 4k 1 . . . US .Mono 4a 1 1 . . SON i Chicago It I Id 1 . . . 70 U 3 Ilealty It t. i'ac is Sinn Kill .'i i Impvt 09 Milwaukee Coke & Gas Co. Firat Mortgnge Collateral, Sinkinc Fund 7' GoId Bonds Duo February 1st, 1933 -.-cured h ii p ilKe with TniHtec of Klrst Mnilc.iKi' H' rial HondH. Avorutre eiiniliiK'' for thn past hIx inrs inoro than .ri Hiuph lntprP6t on nil outHtnmlinB Ilond. .Slnklui; Fund provides for rotlre nipnt of entirr laup by maturity date Kreu of I'crlft.il lnrnmi Tax of 2'"o, and Tax TC. f inrtablo to holders In PemnnytMtnn PRICE 08 and Interest, to yield 7.75 Mi'iuhrra Plilla Hunk nrliaiiKe IA2I CHEST?JUT STREET Equipment Bonds To Net (i.30r to 8', Townsend Whclcn & Co. Memliera w ork uml Plilla. Moik Iiiilu. 50,- C'liPhtnut Street I Safe Bondsy6r Investment HALSEY, STUART Ct, CO. Inc. Stenographers in Now York Hank Uxcellcnt opportunity in Umo downtown hank foi rapaWe experienced atenuiirapherM unilni. a. ram Pi'i manrtit noaltlnn. cellenl worktnn conditions, Uood aalaty and lunches, mam uzo Fnucaiion, eipsrltnco lary nnpiciru, h rug r K.'V. ft.. ItOOM 7(11 1 .W, lla fit.. Mow l'ork Oltr Morris Brothers Co. Katalilltlird 8!).t Bonds for Investment Municipal and Corporation 1421 Chestnut Street and eali ft' Tide Water Oil 61s. 1931 Atlantic Ref. 6:.s,"l93l Gulf Oil 7s, 1933" Chic. & N. Western 61..s. 1936 1-lershey Choc. 7s, 1930 MsCowitCo l-ut 5IM lnJ Titlt Bfdg ne 414 A no Yml. 7'f, I'tiiiuu Han. Vamit In IJ i T 10 S1V I . 4P4 1... 81', Chl i W I In Manhai KM 4s V H Hub 7'. a 1 B0 ' 1 . BO 1 01IJ Clillo Cop r r.lllrh Cl 1 3'ia B,. iftij 1 . 73 H' 2 71 1 99 S City Herns 8s IMId S X. ti Sa UM H :". r.s 1 05'i 1 70 3 05; Cty Chrla a Sa Mil I, S W V 1 U 4 C 1st 1 1)J Mich dv fla 1 ... 81 City N y 3'jbI 10 U9'.,Va Itallw'a Ba May 'S4 ,Mo K 1 Te l H ... 83'. 1 . 74 i 1 .19 Va niy & V lis C N Yk l '.vi Mo Puiiflc In :s c.1 3 . V3 , l s.i Wabaeh It '. Ci' Pans i.a Mo Pac S '.'.ll h8. 00'. 3 9rt Vtnuakli II 2nd Cl d Cln Chl A Mont a Pvr- .' . . 77 i4 St Lo 0s 1 i' 7il. ,Wn Pacific lat 3 .. S3V M & l.a x 81, a 1 Colo A. S t'.il 3 TO7; 2 1. 73 iN'ew or Te'&Nv I Uilri Corn d 1 . HUM 1 Denmui It Con iJC Y Manu 0s wl 1 .' 10 B . B B 2.1 Dm a OS 08 98 (IK 9S 'N' D Can B'i '21 . 1. . flli'l Do Canada '29 N S N Y 3 t ti r.i a 43-4 n v l.fj'llS I Mexico Bs 01 I 1 . I'l.H 3'js 3 07 . 1 i'ent I 4a 1 79 2 . . Cntl t'Ja i . 7S'jl C 7a ret. 1 Hip. 1 . 101 1, Wilton I'M 4 Stl 1 4i j Wilson 79", I a 8. UPv -ib('ltv l.ilH'l Liberty Mln-rly Liberty Liberty Lillet u Virt'.N :p Ul Is LM !.. . Ihl i,t. 'tl -l',K. .'id (', 4th I'.s. N'ole " Viei'j .oli' 1 ' lliuh '.II III Ml II I MIIIO S7.KI Sti 4s Mt.HO Ml 70 07.-M 07 'J'-' l.m 01.no Ml.01 .SO.'JO W1.0J .Ml.-lO M'l Si' Mi t)4 07 It 07 is S3 . 82 MfB 7n . US'. 9S. . ns', . H8 DS't OS US li OS 08 1; l)8i, Co cv 85 Co 1st . 90 11 1.1 a in. 01 ..",11 Ml.!)! sii.;:o 87.10 .Mi.4.2 wi.no M.I.7J i'7.18 07. IS 1 GOSSIP OF THE STREET Nearly all the opinions expressed in regard to the stock market situation arc based 011 (lie vufious movement tbot linil oeenrred in (lie leadliiK stoek during tip. last few days and these opinions ate juit us (.out'iised as the market movements have been. Then wcro initny of the professional traders who linvo been committed to the short side for some tltiif who have changed their position and expressed the belief that the market situation hits changed to such an extent 11s to make advances of niHtiy issues probable, hut those who express these views have apparently simply become tired of ttyins: to innke profit on the short side of the market and have decided to turn their position just as a gambler sometimes c hoses black instead of red. In other circles there nre nintii who regard the advances in the market as simply due to hort covering or pool manipulation and they Insist that under present condition, with many corpora tions HbowinK decreased earnings and other corporations facing receivership, thnt little confidence enn be placed in the market outlook, In banking circles, little Is said about the outlook for stock speculation, as those interests are now devoting prac tically all their attention to arranging for linancial requirements of railway yateins and matters having a dire t Influence on the trade situation of the country. Hut whern judgment Is passed on the market outlook, the belief pre vails In those quarters that the situa tion had changed at the beginning of the new year and. while bullish de velopments nre slow and there Is con stant alternation from advances to de fllneH with the market tone varying between strength and weakness nt fre quent Intervals, that stocks and other securities are steadily becoming scarcer In supply and borrowing requirements of the htreet also being teadllj re duced, making nu extremely strong technical position and promising a vigorous upward movement after the process of leadjustmeut to new condl tlons In completed. Financing tho Copper Surplus It is thought in some of these quar ters that the arrangements to finance tin- copper surplus of the country Is one of the most Important steps in this direction and that such action taken, with the increased activity In the tex tile industry and the maintenance of the prhes of finished steel products by the leading steel masters, will have a cumulative effect that will soon imprest itself on values and be an influence in causing increased buying at advancing prices. Some of them hold that full considera tion has not been given to the benefits to he derived by the railroads from the railroad bill, which passed the House on Tuesday night, and is exacted to be favorably voted on In the Sennte. With the settling of government obli gations to the railroads, it is insisted that many of those companies will be put In a strong financial position and that the simple prospect of the govern ment payments will go a long way to improve the credit of the railway com panies generally. It is asserted t vime of those who have had much to do with railroad financing thnt rceent Isuc of securi ties hnve not been understood, as many of those securities simply replace already existing obligations. Detrea.se In Steel 'Connate The decrease of r74.0rS Ioih in un filled orders of the t'nited States Steel C'orixirntion for .lnnuiiry. indicates in coming buiness nvernged. approxi mately. 27.000 tons a day through the month. Shipments were nt the rate of nboul ."iO.OOn Ions for each of twenty five working dnjs. In the earlier part of the month, in coming orders averaged onlv n little over J0.O0O tons a dti. but the last week of January suw a decided betterment in buying with several rail orders placed and this served to bring up the aver age. Orders in the last week of January must have averaged between 40,000 nnd 1.".000 tons a day. There is no reason to expei t the rate of incoming oiders at the end of Janu ary will continue through the present mouth, particularly in view of the change in the steel situation brought about bv the action of large indepen dents in announcing an open market. All previous experience indicates that the Immediate result of the open market will be further slackening of business tciupor.inlj. Itaitrnad Labor Hoard DrX'Islou The decl-ion of the ltailrond Labor Hoard refusing immediate abrogation of existing national agreements nnd rules ami working conditions lenxes the case before tin board as it was prior to January .'11 On that date, and after tailroads had presented elaborate evi dence intended to show the oppressive, wasteful and unjust chnracter of agreement-, Viie President Atterbuiy, of the I'enn-vlvaiiia. 1 huirman of the labor committee of the Association of Hnll ua Kjecutivt's. made a motion for immediate abiogution of the agreements. He asserted it would tuke the board months to cau)ine the agreements, Hue by l.ue. and to take evidence upon then" 'appln 111 ion lo local conditions all oer the foutiti Long before that he piedicleii i'ii' board would lie "flooded b.i app aN ti "in individual railroads Horn all put is o Ithe I'liintrv for reduc tions in luiiic wages, and added, "it will be impos'ib'e for the board to rein ami dispose l ':nc separntu 1 asc their meiiis in 1 ime to avoid and possibilitiv eg m HOME PLAN L WILL BE DISCUSSED. WOOLENS IN FAIR DEMAND 1 Prices Have Stiffened and Sales Show Considerable Increase better demand for woolens and I Piece Roods Is repoUd (Vi the weekly re view of trade for the Philadelphia dls. 1 trlct by it. o Dun A- Co. Wholesalers 1 nnd Jobbeir state biislppha shows a Brent Central Units of Citv to Confer' Improvement oier the. Inst two months I of 19 JO. 'rl.'fs on Project at Dinner Tonight ! I ARRANGE VALENTINE DANCE! Ilepiesentativcs of posts of the Amer ican Legion in the central Legion dis trict will discuss acquiring a Legion home nt 11 meet ing tonight nl (I oclock nt Kugler's, restaurant. South, rifteenth street. ' (In sc ei nl peen- ' stons the problem hns been considered. bill at tion Iihs been postponed. There 11 1 e between one- fourth nnd one fifth of nil the Phila delphia Legion membeis In the. central district The announcement of the meeting was made by It, It. Uo::an. of Thomas Itobcrfs Heath (Marine) Post, the district ihairmnii. wiiu said a re port will be received from n special committee on the home situation. I....... r. . r... .. u. ... .-... linn? .. 'jrrrnw-'on -upi mfl I4NI niffni 1 - , ; . It. its new home a771 I'rankfnnl aenue ' "v.'r n period of years This roal haa decided to earn for ih. for-, tuners nre ra.lt ry Iner aervlce men In Ita vlclnlt who are af focttd by Industrial condition. Prince- FVjrbes Post Wet Philadelphia will hold a valentine rtjnre in MradU Hall, nfly-flrat aired and Uallimorv ae. nue Teoman (P) Post, No. BO ''l meet Tue day evening at the patleh home. 1,ocust and Sydenham atreta, when the new plan us to th obtaining; of du from delin quents will be the subject of consideration. Nunan-aiook Post 338 American Legion plana to Increase- its membership lot) per rent In thirty das bv rounding- up all world war eteratis In llavejford tonnshlp. Tun big reunion, of wteratu ate planned to be held In the post'a meeting room In in. Administration Ilulldlng at Oakmont, Delaware count The first reunion is scheduled for V'rlday ecnmg. I'elruary 18. A'l buddies" are Halted to spend a pleasant evening talking oei old limes and to meet Comrada Al phonro Hproul. .Ir . district deputj comman der of this section. Th final ralu will he h d Friday evening March 18 Comrade David II Blmtwon, ae. iilor lr state commander, will deliver an address on a aubject of vital Interest to all px-servlcn men The follow Ing commute" on memberahlp las been appointed to direct the campaign' Adrl.n V l-inicr. rha'rman. 22 Ht. Dennis street. South Ardmore, Pa.. John Greer, tl-orge McCuen and John McOarvey. John MuCarvev will have chargH of tu poster work and the dlrert'on of post membera who will attempt to get In touch with all cs-servlCB men In the township, The entertainment committee of whle.h T 1 Magse is chairman. Is o'oslv co operating with (he membership committee liae stiffened nnd sales for Januaty hae tonsldcrnbl.v, in creased. There appears to be a steady demand for the meKhandlse. The prcs cnl Indications are ieiy optimistic, look lug forvintd lo a good steady trade Manufacturers of shirt waists sar trade lias shown a marked Increase In (lie lust Ihlrt.v das nnd the belief Is thnt buying will bring an added im protinetit. Manufacturers of men'm nnd bon' clo'blt'B repot t an Increase In sales over Uc mbr, 1920 . prices are steadier and lonkiiif foiwird lo an Increased business fur the futtite The 1 "view, continuing goes on to S.'IV . 'The hard". ate line shows a fair amount of sctlvlty, with a good demand for all gi Riles of muter. al and while, In some lines, purchases are In small quan tities In other iiancii-sj of the business the demand f eeds the supply, and a deildd Imteaie In the volume of luisl ne.s being don Is nntlclpnted durlnsf the enrlv spring season Prices remain llrm and foliectlons good. 'The eiear.ial ttnde reports a slight tendotu toward an Increase In busi ness atid regards conditions pointing (ow.itd a- iocrenfe In volume during the rurret.t niotitb The Idea of prlc reduction of tnntrrlal has been ellmltu ated during the last thirty days and the trade now seemx to epct that price) t eduction will be gradual and extend lobDers nna re. busy, prices are rea sonably firm. Collections aro ralr. "Th stove trade reports modcrato business, owing lo mild weather condi tions, and staple goods are moving slowli with fair activity In supple mental heating appnratus Foundries ate. operating at about 80 per cent ca pacity and Jobbers and retailers am falrlv. busy Prices are firm and col lections show nn Improvement "The leather market shows some Im provement; prices have changed but little and there appears more firmness and less disposition to sacrifice Glazed Icld and upper leather manufacturers have made substantial sales during ths last week and the stocks of higher grades are steadily decreasing. Unless production Is Increased soon there will be a scarcltj Labor conditions are stood and a wage' reduction of 26 per cent hns been accepted. The row ma terial market nas navuncea Biiim.v from th lowest point and any sharp de. mnnd will Increase prices. Collections are falrlv good Manufacturers of shoes are gradually increasing their produc tion. Indebtedness Is comparatively small nnd they are ready to buy re quirements. Iletall dealers are buying cautlouslv and to meet Immediate needs ond nre doing a fair business "Mllllnerv hoUFes have had a goon volume of "b -alnoss and nre preparing for an Increased business during thi spring season ns stocks of merchandise; are generally snial!. n,iiMer are doing a very moderate) o,n,iini nt work at present. Efforts an) X VJ r.v.. - - .. , . being made to adjust, prices 10 win nvsi NEW YORK COFFEE MARKET ' iDlli. leh 11 Hie 111.11 ket for coffee ftlluius opened '.' to I piints low er this morning, trading in ilie near months being entirely utg'ecieil. The volume of hiislne.s on Hie mil w,8 the oftetings were lontiiicd W , II sti net and trail small, and lo one or llOUSfH. March May July Wept ember . Di'iomber I wo 1'iev I'lo.e Open (I III 11 7.' 7 13 7 .11 ; sit ajiira? 'I I1SH7J 7.10 7 47ll!0 7 S5 LONDON STOCK MARKET ........ e nil rnnccriicii ih.r. bus been a reduction enmn materials and a wnge practically upon numerous leceivi'i-uni of a national panic' Overruling 01 (ieueial Altetbur's motion tor an nainediate dnismn means, and tlie boaid has so declared, that it will pioicul with the Inal of the ense ou its un 1 i's Heading Segregation Plan Although ike Heinlinrf segregation plun has l" ' compli'led and wus worked out 011 11 basis that is satisfactory to all major jntciisU cotif'Tctii es have been "oiug on with I ne ofllee of the llttoinov general of tic I'uited States, wliicli have d"lnud tiling of the clouitnent. The plun mav be annoiiri'.'il at am time, but in soine iinlea which have follow cd the plan . los.-lv il is not be lieved that it "ill li tiled toilHV As 1 tion iu.v . in- iiiaj incut! Home Ralls Continued to Droop Gilt-Edged Section Narrow lnrion, Feb. 11. Oil shares were Ir rKular on the stock exchange todui Shell Transport was S 3-10 nnd Mexican Kagle S", Industrials lacked steadi ness. Hudson's Bay was 0. Notwithstanding the fact that the at titude of the unlonB with regnrd lo a strike was less menacing, home rails continued to drop, drank Trunks also were llabbv and dollar descriptions, too, were wenkcr In smpathy with New York exchange. South American rails were dull and practically unchanged. Alterations In gilt-edge investments were narrow and mixed French loans worn firm following the improvement In and while In cost of lower acale of arranged for In cer- 1 fain ' mechanical trades, there has not I yet been reached a definite understand Mng as to cost, and proposed work: 1 amounting to many trillions of dollars ! 1S .lntetIlmanufacturers, dealers In . ,.. ' ' winters' suonlles report a moderate -.mount of business being dors the franc y greater siucr In the fa" nt the Rant talned CJen with the u noted Mexicans ntsplaeu a walkout ftlrs were y. trading week-end of workers well main was quiet, absenteeism In fhls line, purcu"':.-' ". - :-": "ills an represent lmn;edlt "' s believed, however, there will bo a de- in me uiuuic l nun- DIVIC )S DECLARED I'nite.i cigar terlv of 14 r . March 1.1 to Atlantic Itef aha re on ennun of record Ihi rhliaoeinnia es i'o of Amr ca quar. nt on preferrevl pa.vaDle of record 1'ebruarv 28. Co qunrfirlv of 15 s invabU March 13 to stock r,,S 7, thW line during the .carlv spring. Prices remain llrm and col. 'Vall Bppe. manufacturers. Jobber and dealers rerort little change In this Une of business. There appears to be ,x rnlr amount of work among pnperhnug ers ronXerlnB the midwinter season Mnmifacturers teport doing a good Mil. umfor business which. It Is boi.eved H.mf ringed that for the fame pcr.od wilt .v, ... nninnlin t'r I eM Ik. erai cain ,,..---.--. - - , and coucciion- h"v for cv main firm ima'itovvn and Nornalown ltnllroid Co , ouarterlv II BO p-r simrepa)- able March 4 aa reglsierfd 'hruarv hi p -I-.3 Ti ark ind Mjtor "orii . ann'jjl of $2 on ' ennon. tiavnble in four ciusrt.rh 'rn'ul niMits nl SO -ente -ar li i,s folio t. March 31 stoi I. of "eford Manh 1 Inn 30 st, k of rend lane 1 Sntenibfr 3u .',(! of record Septemlwr 1 'in! Dicitnb, 31 to eluik uf record Dimlie' Superior Oil Passes Dividend Superior Oil Co. dlrec'ors met yestei -da afternoon and passed the dividend dec'atable at this time Possibility of such action was forecasted by recent decline of the sto U In the market. Tn last dlvldind of 8(1 cents a shate iva paid December JO It Is undersiood that production and earnings have been 1111-uutlsfaotoo Raw Sugar Quiet but Steady New York. Feb 11 The raw sugni msrket was unlet but stc.tdv. with sales reported vesterdav of 10,000 bags Cubas for Kebiuary Hhlpment at 4 cents, f. o b. to nn operatot I.oe.,1 teflneiB put chased 12 0011 lags 1 irto Il'cos at fi 02 cl I. f ; 2iiCni lugs San Donnngoes n ", cents, c I f and fiofli) bags 1 "ib.is fo prompt siiipmetit a' 4 ictus ImiKirta tlons IncHliPd about 32 OOl) bags of Junior Bankers Meet Tonight The February meeting of tn Phila delphia Chapter. American Institu'n of Hanking, will be held this evening at Its rooms eJOS Chestnut stieet at t ., n. After a short entertainment an .ia-.u 01M hn made bv Fletchei W Stltes on the "Foundation Republic ' All bank men city are invited to attend This this If There Is a Market We Can Find It We hold sales of stocks and bonds every Wednes day, charging $1.50 en trance fee for ench item. Our weekly cntalojrucs und postal card service rench every mar ket. We take pleasure in furnishing quotations. Barnes & Lofland Stock Ilrokera and AufMoneera 147 S. 4th Si. ubns to flu Na'lon.i' n lined tii.nket s i.iu'l'.ii kciI T.le cal GOVERNMENT 1'inarn.i coupon 3 1 D eS I Panama iea!t-e, .! I'ji.l Philippine 4e 1.1 Phl'ltmlne Is IS3.1 i s ii, vi ,',jupon ". 1930 1 S 'ii it re- '"eii . in in U S fjiiv reclttered 3s Hitll 1 S l!oT roupon 4 '92A BONOS n ' HAVING PAID fne hundred dollars cash on account of subscription to .stock of Metropolitan Trust Co. (or sani.inR), will .sell nnd assign rights to aboc sum nnd stih--cription for four hundred dollars. Box A-3.1). Ledger Offirc. 1'3', JOT. II Stockwell, Wilson & Linvill Certified Public Accountants Land Title Bldjr., Philadelphia , 'ii"i ill Cl1, The Opening of Your Bank tonionow ,ill not he announced Liverpool Cotton Liverpool, Feb. 11- Thcie was not much demand for spot cotton today with prices steadier on an advance of 4 points for middling al S lid. The ales were 4000 bales The receipts were 11, 100 bales, Including 11 ono bales Amer ican Futures were quiet In the early dealings. Snot prices were American, middling fair, 11 76d good middling-. 9,46d: fully mlcLSUns, ,!)6d; middling, K.lld: low middling. 6.9Rd: ronil nnll. narjs, iifid. uui airdlaary. 4.1Sd, 'i that the plun until nM eik lni!eX'tiilenls Uii'tatc Meel lri e The Iron 'I't une Iteview sajs; .P,i crsbip in ll" di-Miion nl the lowest prices in steel I as passed from the Steel Corporation lo the independent producers for the his) tunc since the war Such complete teveral of the situation ptevniling lor mniiv nionlhs has been toned hj the sweeping reilm tions of approMimif .i . to $S n tun in many products abinptli put im,, C. feet du'iing the last week bv several leading independent i oinpiinies This if appearance of aggressive mm petition bus not lesultcd urn xpecicdli it represents the sequel i,, the unbal ancecl conditions m "leintiuiis dating fiom the sharp cnulraction i,f the mar ket lost fH i.nder which the Stel Cn porntiou has been working Mrtnallv nt full capacity while the independent mnk crs bnrelv have been able to maintain n 2.1 per cent to 00 p-r cent U'livitv 0t all the independent producers in ,au, followed the initiative m puce rciluc tions taken several days ago by the Midvalc Steel ond Ordnance Co, and certain other interests, but they are dolnt eo rapidly 'WE TBADBnT On Monday, February ma Bank and Tni.it Co Sis., will open its 1 1th. The Pennsylva- at ith and Woll nc central Building at 9th and Walnut Streets This Buildinp will he open from !) A. .M. to 0 P. M. for the convenience of our depositors. It will be ioiir Bank. We will pay t, on Saving accounts 2', on Chucking accounts. We are equipped to handle anything in the Ranking line to its fullest exlent. Pennsylvania Bank and Trust I r-X, 1 Vfi Company m company Mth an( Wajnut stfi 1 m A Handsome Souvenir 7th and Wolf Sts. 9 m on Our Opening Day m A IS,. .'. . kS $ 3ks?"J$ ' 1- ' - V - & 'rh
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