Tv--9i!rvvfn''"
yftimnWW
f'Tt'&$i!&ffi0'?tif.r
Efevi
Ey!
-f
18
EVENING- PUBLIC LEDGER PHILADELPHIA, WEDNESDAY, EEBRUAKY 16, 1921
Kmmc-
U
n (
Ml
i
& ti
ft1 in
rif
HUti
ir
a-
frl
m
.'
&g
It'
:&
' ;
n;
tt.
tw
MirtS '1
vd ..n , ' i.
in '. i
hia.. r.-
6rWWf
ft
WP.
iit
.,
3a
ZyVYQ2
Copper Export
Association, Inc.
8 Secured Gold Notes
Onr Yenr
Two Ycnr
Three Year
Four Year
Offered when, at nntlif I m !?,
priori in ileM nlmn'
8rr to 8.30".-
(according te maturlto
Circular on rrqunt fnr V r.-33
TheNationalGty
Company
Philadelphia 1421 Cheitnut St.
Atlantic City Chalfonte Block
1225 Boardwalk
STOCK LIST RAGGED;
PIES
IRREGULAR
I" NEW YORK STOCK EXCHANGE TRANSACTIONS I CAR GROUP WEAK
ciibo. in AiiTfiinr Tni niiiti
INUMUKAUINb
4- -
Good Will
'and Good Luck
What portion of the book
vnlues of your securities is
represented by these
items ?
Many boom-time promo
tions were excessively cap
italized but clients of
Moody's Sen-ice do not
buy securities of this
kind.
Moody's Investors Service
analyzes values, interprets
the trend of the market
and assists investors in
many ways.
Investors will be inter
ested in Booklet 18, sent
free upon request.
Moody's Investors Scrvico
JOHN MOODY, resident
1121 Ileal Estate Trust Illdg.
rlllljdelplll I. I'll.
New lork Huston Chlr.ico
Business in Reading Lacks Yes-
terday's Forvor Other
Rails Listless
New Ynrli, Teh. 1(1. In the absence
"f anything noteworthy In the Rcnernl
! mur'sct, which mis togged in oppear
unco iiinl irregular In inclement, spec
illative interest whk caught by the rush
f sterling to ii new high. The pound
touched ;i.02a. more tluin n cent nboic
its close of yesterday nnd within hull
ing distance of Jj-MM"-,, its peak for
llVJti.
' There n i fu'r nmniinf of biisine-
in Id inline but it Inched complctolj
tin- fi'ror of lestcrdny, TIip common
ranged from o to "(tM., ns pomiinrril
with i nt yesterday's close. The
lirt iirpfcrn il was down '( nnd the pii
oml prefprrpil "s. TIip other mils were
1 I sfloss, with flip PM'pption of Southern
1'ncifip rights, which, under some hcniy
l silling, to'iehed u now low at l"i,
I Persistent rumors t lint it mnv not lie
I bin; before fienernl Motors will do some
ii"w financing Iniil rn unsettling effect
on the motors, tieuernl Motors itself
wns off frnotlnnnlly. Stiidebnker.
I hough, continued to lip in 50ml demand
1 nil got nliove fi'l. (ienerul Motors' mi
nimi report will not be mnde public for
some time, hut it Is reported thnt the
1 nliinep sheet will sliow notes pniiihle
-f nl'cur S7."i.00ll.0l)0 nt the close of
lust rnr. while ciush on hand is placed
at S47.n00.000.
The steeln lacked the resiliency that
I'as featured the late tradltiR. t'nited
States Steel declined fractionally and
the independents nil ct below their
'neninc iirices. Haldwm was nartlcu-
larlj weak
Anier can I.inseed. nmonij the spc-
inlties, which was close to 57 nt otic
time jctcnl.n , touched a low of fil thin
1 moniMii; hefore it recovered to around
1 ms stoeK has oeen inlluenced bj the
reports that olistaeles are lielns encoun
tered m regaril to its projiosed absorp
tion by foreicn interests.
The siijjaii showed little life and the
oils moved In 11 narrow range.
LEHIGH SAIIGATI0'
LEADS LOCAL LIST
10(1
isnn
100
t7nn
too
MID
21(1
tOil
too
11,1,1
J-Jflll
IJOfl
2000
100
.10(1
.1.1011
1.110
;io
100
mo
Ti 1(1
401
."JO
400
1710
1710
.till)
100
I.1JII
.(no
too
00
ill! I
100
too
100
100
1.10,1
J0)
.:o
inn
h'JIO
000
1011
11
n I
. . Adams K.tprcss . . .
4 AJnx Hubher
. . Alaska Juneau O M.
.. Alllid ciiem & rye.
. . Allied Chem & Dyo pf B'i
Allls-Clialmors a:H
ItlKh
.10
3331
40H
Am Asrlc Cliom
fi Am Aprlc diem pf . .
a Am Hank Note
8 Am Ileet Suear
10 Am Iloch Magneto .
. . Am Can
t-i Am Car & iMy
Am Cotton Oil. . ..
, .72
, 7(1
40
. 40
, MM
, 30 Ji
22
INK
. S3H
, hO
. Ti
S
. 10'4
. 44
, .10 "4
, E.IJi
. 81 V
, tOOl4
,t31W
7 Am Mule & leather pf i$y3
.. Am internal corp. .
R Am T.inpcod '
8 Am ixcomotlvo . ..
.. Am ItadUtor
. . Am pnfety n.T2or. . ,
.. Am Ship & Com. ..
4 Am fitmlt & lief...
a Am Steel Foundries
7 Am Sutrar lief
10 Am Sumatra Tob..
5 Am Tel & Tel
I'J Am Tobacco
0 Am Tobacco nf new.. Blt4
11 Am Tobacco IJ USJfj
7 Am Woolen GK
.. Am Zinc Lead & Smlt 9U
. . Am '.ncS. lentl nf . . . -iOW
.. Anaconda Topper ...
.. Ascets realization ...
J Asro Iiry Goods
0 Ateh Top & Santa Vo
Atlantn Hlr & Atlantic
7 Atlantic foawt Line. .
10 All C.ulf & W ISS,.
7 Atl Itennlnff 7T, pf...
. . Austin Vlcholas
3 Auto S'aIcb Corp pf...
7 naldwln Ixcomotlve. .
. . Haltlmnre & Ohio. . . .
4 Baltimore & Ohio pf . .
2)0 y.f.o Jlanisdnlo riass B.
Uatopltas Mlnlnc
. . Bethlehem Motors . .
n Bethlehem Steel 11...
7 Bethlehem Steel ",.
8 Bethlehem Steel 8Tn nflO.VA
.. Booth risherlew 8J4
.. Urkl-n Bnpld Transit IHJi
. . Brkly n R T ctfs of dep DJfc
.. BrIlTi I'nlon rjas.... Sti
10 Bums Bros son
Uutto Copper & 7,lnc. . iU
Butte & Superior Cop 11?$
Gains 'J 7-8 Paints in Active
Trading Reading Common
Sells at 75 .
A Comparison of
Present Prices
wlth quotations of standard
-otocks and bonds a year
l ago, indicates that in spite
of liquidation caused by
t widespread deflation, the
J market for well-secured
, bonds and notes is stronp;.
t As deflation continues it is
'-.reasonable to expect even
.-a stronger bond market.
' We therefore invite in
z'f.vcstors to send for our
r" r-romrnendations of bonds
I that are being purchased
today by the more con
servative investors.
Write for Circular 77-55
Hemphill, Noyes CS, Co.
Member JVetv York Stock Eichanfe
Franklin Bk. Bldg., Philadelphia
New York Cotton Scrantou
Buffalo A!bn Syrjruic Baltimore
gtTuj'JU J jJrytnrauT3"jluu'31Jr
t-ttt: J iOCVI'11 '-" " "" ' ".
C
C 1 J M T
1 1 .v
P X V
offer "u tin? ailwit'
tage of '.nvctmciK
counsel that ha be
hind it nearly a halt
century '5 experience
in investigating -t
curitie-
W'e s'-a"! 1 r u!a,! to
scnr yriu a enpv nf t'l
current "isue nf "( 1,.
satt 1 iftf ruua v 1 '1
describes the j , , !',.,!
ad antat'e : i nlw.iy
F 1 1 - T I st 1 !'
gatiV.ns. -. r
CASSATT V CO.
COMMERCIAL TRUST BLDt
PHILADELPHIA
tALTlMOet- PrtTlBuesM - Km ontoh
L
t.hiKli Navicatin nwus Hip rrntrr of i
--...... lion 11U inr i"i in 111 41 1 ti i, l'"iJl (
the demand for the shares ndvancinit
the quotation to t!vTC nt which price it
was "Ts points ulxnp lust night's close
The close on Mondaj was nt I1.V', . The
activity is ubscribtd to the favornblu
enrlv report that came out the other
lay. The Minehill urn S-'hinlMH Haven
Hailrond, whieli had become almost n
'tratiRer on the local list, as another
issue to make a cond sliouine in the
enrly mnrket. u sob- of ten shares beinc
made at 40U., n Bnin of ". from the
last sale mnde more than a month ago
HuntinKton and Itroad Top preferred
was heavj and on n small turnover lost
points .at 17. Ituffnlo and Susiiue
hannu was taken nt l.'t.
As for the lemiunder of the list, it
was a mixture of utn hanscd iiriees with
a number of iss,i,.s mining frii'-tionalh
hiRher. There wns no evidence of unak
"ss m inn section. Electric Stornitr
ucnin movod back close to in.", rinla
delphia Co. cumulative preferred was
in fair request t K.uln ,,,- Nll
with I'nited (ins Improvement on mt
limited sales iniiklni; a biinilnr advance
Lnciil traction isiies were icflected.
The lr,it MJe nf Keildillft COIIUIIOII t,,
! mnde her., since the tiling of the
secrejjatiou plan was at 7ri"'. al oss f
1 points, and putting the issue ,,n a
plane with the ipioinrinn v. York
Opinons r.ii,-i.pr,n:. t,e Iteniling's
"piriPRimon plan vnrj wnleli Wne
wire e"t lif.t estirday with ipirnis
f'nm local ),,, uses to tlie'r New York
cfirri'snondnnls and New orlt was
J'lsi as ilisirmis nf the ideas of bank-
rs here iarlj everv man ipieriiv)
I ml 11 different opinion of the plan. The
,iiiiirKc.c din rni take kindly to the pio
, posals, apparent! ns frm ,(, kt.irt
I'll" Heading sues were hiibieit to the
wildest t:raii.iris. the common, which
was the target for must nf the attacks,
I" ins nt one tun.- ." points below the
pen ns price The opinion was almost
niver-il th it the plan wns twntisli nn
if leiisr this p.irtn iilai- is.i f t1P
Itead njr's stock, a'tlioiigh at the close
f the pessiiin n,, on,. ,las scr tluin
a lii 11 trade started.
Vhat11- n,nj ,1Vf. HI1 ,h,. jri,.M
of the holder nf Rending Mocks the
bond issues tterc MrntlR. The Miles of
'he cnmpanrs gwr.il -Is ran close to
slOO.Ovo f,,r the day, the high being
"."'j ami the low vllii, The opinion is
epriss,K tint the plan js prejudicial to
tlie boilers of the general mortgage
bunds and rimt a 111 w clause, bearing
on the position nf these securities will
have to be prepared.
mn
no
1701
.'00 1)
f Oil
I Oil
40.)
Ollil
I Oil
Mil
101)
too
t (111
.1)1)
Mill
2.VII)
13,111
21i)
1 Hi)
31)il
0)i)
too
70i)
.10i)
10'J
.'111
100 1.60 Chln Popper
nil
.loo
'.Mil
,)U?i
an
20 K
S3 54
fl
N1H
drt
innii
in
14
Of '2
3',4
m
3534
ti
3Ji
At)
90
I (ID
7)11,1
100
Mil
Mi)
411D)
100
7DI1
0 Cullfornla Packing . . i.l
2 Cftl 7.lno & Lend.. . 1M4
. California Petroleum . 40
10 Canadian Pacific ... lis
.. Central leather . .. ,19M
7 Central Leather pf. . sn;4
flO Cerro de P.isco Cop . W'
10 Chandler .Motors . . 71
1 CIlCFiipiake i; Ohio... JO
. . Chicago A; Great West s'i
. . Chtcnco Mil ,t St V. t'H
. . Chlcnco Mil & St V pf -."4
5 Chicago Northwestern 07 H
.iiiiv copper i-"4
. . 2.1
Cluott Pea bod. . . .VJt-4
. . Coca-Cola .. . . iZ',i
3 Colorado Fuel . Iron 'is Vt
Columli Con R. P.Iec. 6(1'?
I Col fjraphophone . I0H
7 Consolidated "lgai . it
7 Comiolldated Can . J
3 Consolidated Textiles. JllLi
. . Continental Candy .. I'j
.1 eontlnental Injurance 1
4 Com Products lief.
7'.'?i
.10
I'OJi
rv
:zH
21-2
101
210
10
l(t8
. ess
100 2.80 Coaden & Co..
.1100 Cruclblo Steel
1100 7 Cuban Amer Sugar...
ion . Cuban Cano Sugar. .
200 I Davison Chemical . . .
200 n Delaware & Ifudton.
100 10 Del Lack & Western
4 ill Denver As Itlo Grande
lM'i I Dome, Mines
'Il in i:,itman Kod.ik
10(1 7 Lmerson-Brantlng pf
700 6 I3nillcott-Johnson . . .
W'l .. tlrlo
odd .. Hrlo 1st pf
100 .. Krlo 2d pf
oi) n I'ainoua Players L. .
I0U in TlHhep Bodv ..
2 HI . Plsk Itubber
10(1 Kreeport Tcxns
lull .. Gaston Wma & Wig
205)1) . General Asphalt
700 'lineral Asphalt pf .
3100 11 Grnrl C'gir
HM M Gener.il Klectrlc
40)i 1 General Motors
200 11 General Motors pf
ifti) 0 (Jen Motors deb ",.
100 ; Gen Motors deb " CV
100 . Gllllland OH pf.
lOOi) 0 Goodrich B V
100 Granby Cool M & M
.Dil 7 Gre.it N'orthern pf . . .
OilO 4 Gnat Vv...;i Oro ctfs.
1.00 . . Houston oil
.11.1 I Hupii Motor Car... .
."HA . Intirb Con Corp
20(1 Inierl) Con Corp pf .
100 .-, Int. r Agrlcul Corp pf fili'
MOO 7 liul Harvester new. . . 10(i,
Hill . Inlir Mer M irine . 1.1'
fiOO 0 Inter Mir Marme pf. Jli4
10 7 Int Motortruck 1st pf 73Ta
100 .. Inti rnatlonal Nickel.. lATi
20)0 .. International Paper . . OOH
IO10 .. Invincible Oil Corp.. 23,',
1 nv
30
11
t"
A?4
DII'4
.17
S05S
7i
40
A.I
30 14
is;
32
4A4
7'4
.11
SAl;
'.
III
4.1)J
..tllli
l!3ti
S0
100
IISJ4
H7H
07 n
iiu
.!
39 i
1
Ifl'fi
'2
n
S3H
03 !
I00'i
10
14
no 34
,14
All
.A'-i
?i
3Ji
AS
90
IOAV4
A
I3J4
sJi
Al!j
so
A "4
I.1H
1.1
l(i
40
117
301J
so 3s
JO
53!4
sU
27 1 2
42
07 1?
fiH,
23
.V."j
t:U
2S
C0J4
lflls
;H
to! 4
1
C4
j a
.10
0A
3I?4
H
355
101
210
r
in
CAA
3Ai
(,1'i
10'j
I3H
1,1 1.
1 ao
Last
30
33 U -
tn
itH-
Vi
.17 ao4
70
40
4St-A3H-
.1014-
124?,
4Ai',4-
'3 '4 -
ham -
V2
v,
H
H'4
Hal's
100
300
210
200
10(1
too
300
A00
I Oil)
200
1011
.. tsland Oil
. Jewel Tea
. . Jowel Tea pf
. . Jones Bros Tea
. . Knn City Southern ..
4 Kanmio City So. pf..
4 Kclly-SprlnBlleld Tiro.
2 Kennecott Copper , . ,
. . Keystono T & P.
Lake Uric & West. . .
100 Ilubber Tire
s I
10 - H I
14 l '-4
30'4- " '
ti3!J- U ,
M'S 1H
100 ..
13114 4 1H
f'l'j
H8'e4 Vt 1
07H- H
0"4 '4 ,
i9 ..
3J9i
254 4- ',
2fi!4-t 1 I
s2'4- HI
-i ' 4 I
t.3'4 4 1
0AJ Ti ,
looli- IH !
10 ;
B0?4- 1'4
34 I A
,10
.'A'i "4
100 3. so Lehigh Valley
300 2 Loiwo Co
100 . . Loosi-Wlles Biscuit
000 12 l-orMlard Tobacco
lOo ? stanhnttnn Hlev
1100 .. Maxwell Motor
100 . Max Motor 1st pf
100 8 May J"ut Stores...
OA00 12 Mexican rctrototim
Itluli
'4
C
30
ii Vi
m
"54
40
10M
I4H
12H
3114
S3
tiw
4'4
"Ti
20
34
iH
40 Yt
40
l4
148
nvk
2114
A3
, 40
144
lOlo 1.00 Mlddlo StnteB Corp.
(runr C4J4
AH
70
1G3W
I3K
100 2 M id vale Steel & Ord,
100 . . Minn & St Louis... .
20ii .. Mo Kansas & Texas..
300 .. Missouri Pacific ....
100 .. Missouri Pacific pf...
100 .. Montgomery Ward ..
isoo . National Con & Cable
.loo n Nat Knam & Stamp.
100 0 National Lead
.100 . . Nat It n of Mex 2d pf
ion ., Xev Con Copper.
3i)il 0 N O Tex & Mcx
2011 0 New York Central...
100 2. JO Now York Dock..
31 X
1114
3H
IS
.19 !'
18
C4'i
Ji'i
an
ni
7A!i
:t:i
. 13'j
20 'i
. 138
HA' 4
&3HHI s.i'4
. I4?4 H
. 17 17
. -"
71
110
CUi
.132'j
"H
. 71
Oil ' 1
77
. 00
10
2.1
7fifj
30
73
13',;
.1
14 H
24
Cllf-a
10914
&9H
1.11
I4U
71
Oil "4
77
90
39 '4
21
70',
29H
24
1.1 "4
A
I1'4
A0 ' j
tit
1A
S3! 4
7.V-4
1.1,
AfiU
2214
33;
AS -00
IOA'4-
A14
.l
0 'r
Al44
,iH4-
A4 .
13 .-
u.i 4-
(!' -
40 -
lls :
"Ul8-
sH -
VI
MJi-
AHJ4-s.14-
!4 i
42
(17 !4 !
- .
23 -A2'2
.
22
Is 14 -0OJ.4
.
I0U-
10 f
20 ','4
1 -04
11 -30
-I
9(1 ''4 -
33
2AJ4- !
3J&4- !
101 1
210 4. 4
14- 1
10 - I
0AA - IS
3S4 4-
i;i, -
1.1 !4 4
20 H 4
13H
04 Ji
Wi 4
14 17
2'2-
OOJ, h
I09I4-V
oi!i4
132 4
I4?i 71 '
(l'4
77
U0 f4
70t? ,
30 1
72 '4 -1.1
',4
ii I
Hi
"4
'i
'4
'i'
"4
' I
SOD
400
Silo
339U
100
200
20
100
1011
lllli)
22,1')
70,1
0,)il
10
1011
ODD
400
tl)i)
l.'nli)
2i)D
11)1)
400
niiii
200
Jilt)
2001
700
New York N II & II 20 H
4 N Y Shipbuilding
7 Norfolk A Western.
7 Northern Pacific
5 Nova Bcotln a & C.
40 Okla Prod & Itef . .
2 Orpbeum Circuit . .
8 Otln nievntor . .
0 Pnclflo CiBb & Klectrlo 47 JJ
Paclno Oil wl
0 Pan-Amcr Petrol . . .
0 Pan-Amcr B
3 Pennsylvania H B
.. Penn Senboard Steel.
. . Peoples Gna Cblengo
Pcro Mnrquetto . . .
Pero Marquetto pf
U Philadelphia Co
. Plerce-Arrow Motor . .
. Pierce, OH
8 Plcrco Oil pf. . . .
A Pitts Coal
8 Pressed Steel Car. .
7 Pressed Steel Car pf.
8 Pullman
8 Punta Alcgro Sugar. .
4 Pure Oil
2i)0 S 20 Itoyul Dutch N V
200 i.3A rtnnd Jlln Am Shnres 33T4
Ihil 1 Ilay Con Copper. .. 134
15A.10 4 Heading 70 Ji
300 ; Heading 1st pf 47
4(l 2 Beading Id pf 48
100 . Itemlngton Typewriter 34 ',4
MOO 0 Republic Iron ,: Steel 07
614
21
2SH
A'i
A
10
SSI4
IS
41?4
24
1.
!4
''4
4?4
lit
1
U
t
l!4,
'4
1 o
tin)
I20'l
ADD
100
2llil
100
100
41(10
70J
441)1)
100(11)
30 J
t:00
70(1
AIIO
B200
I Oil
.1)11
10,1
200,1
100
01)0
HOOD
100 2
100
000
A00
1S00
700
OKI
a too 3
.103
100
A00
bono
100
200
1210
40)0
1100
. . St louls San Frnn . .
. St Louis Southwest .
Santa Cecelia Sugar. .
Saxon Motor
Seaboard Air Line pf
H tsoars-Itoebudt
Seneca Cop Con1
,71 Shell Transport .
Sinclair Oil
12 South Porto Itlco Sug 87
6 Southern Pacific . . "S'i
.. Southern Pacillu its.. IAJ4
Southern Ball 22J4
7 Stand Oil of N J pf. . 10SH
4 Stewart Warner Speed 33J4
2 Stroniborg Carburetor 39H
7 Studebaker AOJ4
. . Submarine Boat Corp sJS
2 Superior Oil Corp... ,
Ten Con & Chem. sfj
3 Texaa Co 43?i
.. Texas Co warrants. . 42 (
.. Texns & PacllK; 2.1!
I Texas & Pacific CIO 29 J4
60 Times So.unre Supply. Il'i
.. Third Avcnuo I8"4
. Transcontinental Oil . 0
A Transuo & Wms Steel 4014
Ilia OHi
4U
143V4
84 ?J
Ti
84
10
1 61 (4
1.1 j
31
"Ji
IS
.1014
IB
m
l4i
71 '4
AH
1174
ni
71 i
on
mi
.12
99 W
e3H
ivt
H
37!'4
13S
47 T4
30 'A
70K
71)
4014
I3V4
AS
17
3)
33 94
20 U
1 04
70 !4
S8'i
t'24
9AH
107
494
?
23 ti
1.1 '4
7AH
47
47
34 1 4
117
nt?;
21
2AH
1 SO
l.nat
4
0T4
20
244
40 -lH4-I4H
12H
II M
40
141 4
A4J4 A!4-
8?4
70 4-
I81J4-l.ljj-
31
HJ4f
3H
18 -
.104 4
18 -
3H4
AH4-
il'i .
7S4- 34
71?; 4- 14
!4
!i
t
l!4.
Yk
54
M
14
!4
32
lOoU
, fH
. 3715
. .194
. 2J!'4
,12s
31
70
4014
131-2
.18
17
3A14
33H
2CH
lfl?4
7''4
S'4
114
SO
1072
At
3414
0 Tobacco Products
.. Union Oil ...
10 I'nlon Pacific.
SAi
111
47
I071j
I0J4
All fnltnl Drug lht pf
12 I'nited b'ruit ... .
United Ilwy Invest
United Ilwy Invest pf 2.T.4
S United Betall Stores.. A74
. . U S t, I P A Kdy. . .
. . I" S I'xpress
. U S Food Products.
8 U S Ind Alcohol
8 U S Ilubber
200 3.1)0 U S Smelt & Bcf
100 3.A0 U S Smelt & lief pf.
144
AO'j ,
111 1
4
73 ? -1.1'j
'
AS'4
22 H -
U 1
1H
100(1,) BUS Steol. .
OOtl ; U S Steel pf.
700 1) Utah Copper
100 4 VuJiadlum Corp . . .
Kin K Vu-Car Chem pf
A0i) Vlxaudou lnc . .
211 . . Walmsli
UK) Wvl la Kargo Lxpres
IA00 ,. Western Man hind .
200 . . Western PnotOo
310 7 Western Union Tel
M0 4 WeMinithouse V. & M
1100 .. Whlta Oil Corp . .
200 4 Wick Spoil! Steel ( orp 17
IA III I Willys-Overland s
100 7 Wool worth l W pf.,112
100 0 Worthlngto.n Pump . . A0;
24 H
701;
70;;
34!,
43H
84H
111
A0
37H
30H
OTi
s
0A
10
20
hJ
40
ir
4 Ti
10
SSI
IS
41 H
2.1
CO
7s3i
I A
22
IOS94
.1.1
37 "4
8H
J4
, U
s',4
4.1H
424
22
27
11J4
1834
11
3 4
A A
21 Ti
i2;$
47
107
10?4
23
r,j;
12Ji
0!i
23 Ji
no
70 4
3414
43'4
84 !
Ill
AAH
30 b
no
0?4
H
CA
20
87
4AK
14 T4
10?,
lii
113
014
22 4 1
20I4 U
33 4- 1
100!'4 l'4
4!4 Yi
37144- 14
3M- Vi
37 "4 .
12S
47J4 4- ','
301-4-
77 W 4- ','4
71)
4014 .
1214 14
3H - J4
17
31. - 3
33 K 4- Y$
2!4 ..
104- (4
7014 ..
A915- 14
03 Yi- M
08 - 1
107 - t4
A0 - 1
33M- (4
235 4- 14
I3T4- H
70 4- 14
47 - I
4S - !4
34J'4- lyi
07 - 14
01 9- ',2
21
2AH H
S!4 i 's
T4
10
881:,- 'i
18 14
Hii- i
23 H- H
!0 -.7
78H- 'i
is4- ?;
22 -: i',
10S54 H
3314 - H
3714- U4
8J- "4
fci4- '4
OVi-i- "4
8I2- !'
43?4 V 14
42?; 4- 1
23 14- '4
2914 4- T4
114 3 94
1 8 '4 4 14
- n
39Ti- 1!4
SAlj-t- IJ
2IT4- !i
121 J- 1.
47 t 1
107 - ?4
H .
231,4- '4
A7T4 4- 1!4
I2M4- U
0)4 4- !4
23 '4 ..
"!4 4- 14
50 W- 14
34 4
43M4 '4
84 1-4 - i4
111 -1 1 ,
A0 r l4
30 '4 - !j
00 H- 94
o?4- H
8 ! !,
s 4 a4
- U
Reading Rights Soil at 15y4 to
14i2 Mining Issues
Strong"
Now York, Feb. 10. The moiement
In the Issues of the Onril) group on the
llroud street curb todny nttrncted in
crensed nttentlnn to these corporations,
there being little demand even nt shnrp
declines for ony of these issues. Cnrib
8ndlrnte, which after being cxclinnged
one hundred for one for the old (dock
nnd selling nt nround 52 nbout n )rnr
ngo, ranged from l)ns to 7', find Co
lumbia linernld, with 11 similar record,
except for n Fmnllcr multiplication nf
lis original shares, sold down to 2'y.
Outside of the movement In these
stocks, most Interest wns attached to
the large trndlng in Heading rights,
which sold nt 15 Vi to 11 V2. ro for.
there Is nothing tangible for n trading
basis for tbesc rights ns no official no
tice has been given of the privileges to
which they nro entitled.
Mnrncnibo Oil. which hml been strong
for the Inst two weeks, ranged from
11" Vi to 22'. lljnn wns pressed for sale
nnd declined to HW. There were miles
of Lehigh Coal and Navigation ut Ui to
(ID.
Durnnt Motors ngoln sold nt 18!i
Inter-Contlnentnl Ilubber was traded
in nt 12-1; to 12M. Sales of Hen Motor
lruck were mnde nt 80 to 75. Sales of
l! I...l f!l T ...It ?.. 1..
nilllllllUll Wll I1II1IUUII, I1CW, UIC IllUliU
lit till'J to TO.
There wns activity and strength in
many mining issues, Huston-Montana
and 1 lorence (Joidfield being strong fea
turcs.
INDUhTllIAI.S
20 -i
87 -Si
1
"4 .
17
7?4-
113 T
60J4-
94
If 1-
17 in
in !
in '3
I' .11
I
I'll iladelph in Stock
is
1:
fIW
1 n
i 1
1
3
E. H. Rollins & Sons
I oiiliili-il IH70
Investment Bonds
1121 Chestnut M.. Philadelphia
l'hun Sinie :, 1li(l
11 l-i.' I ,
fosfon
Hol.'tmo
, .' h m , i '
I ra 1 1.11
Conemaugh Power 8s, 1930
Price 100 & Int. la yield 8'!
Niagara Falls Power 61, 1950
Price 89" 2 & Int to yield 6 83ro
uijuirica .Wi, lnl
17
17
(1st,
ir.'j
in',
71
.'1-'
1.1 !
17
17
Us 1 .
('.7
W .
KH
71
.'I'J
"1.
1.:
101"
17
lfmh
Am Sirs . .t o'-l
".'. Huff & S
t pf. , m in
'.I KleeStnr lOJ'l. Ill)
( II .)s I! T
pref .
11D b pf 1 tf
of deb
V, I Co N
(:.'.- I.eli N'av
1" Mlnelr'l
..77 I',. It It
In I'll Salt
2nd I'hih, Co
'iiu pf' .
7 I 'In 'a !
70 do pref
:ti P'n'ii A
West pf
1 Jut Head nit .
'J. I'n Trae.
lis U U I .
Hi do pref
110 War I&S
1" York Itwj
pref ... .10
- - hunir.. mini- t
1 ei. V. i V rk StK Rxchnng-
,' in IIOMI.s 1
1 . . H'jth Low p
1 Lloc A 1'eo
Tr Is
I'lBf. I l)lil
I 1'IM
17
Jsl .
(1st;.
iin...
I'n,
71
i2'.
J7T.
1 ;,
LOCAL. MINING STOCKS
"V"..H HTlH'KS
W.J
1 Hal- J j' il",
Jim Ku'l
MurN'mim r . ,
,ta, .N.im .if.i 1 n 11 , ni
MU..
MUpnh Lv
Mont a ,
NorMi .str
Ilearu KulJ . .
rir.ii'.ili Kit
U'ecl KnJ
Weat 'I liupah
DlVIIiK STUi'Kh
A. lie! riv..le
Alto L,ltn
lle . . ...
H,rl -r llV
lien II .'
ItroiiKii l'ioa
Jill lle Kxt
mi
,.u
n!inii . .
Kdf I'.lKte
llnrl
HaalH iek T' ill"
IflKlt I'llW!
Hunt Ulvidv
Hnn Plilil
llowtl.i
.slper ICinK
Ton.ip.ih I'litdf
Tonnp.ifi llHaiiroLi'
Vlrti-r Idvlild
Venle tn lib'
iuni
LIVESTOCK QUOTATIONS
f IiIciiko. Ii b 1(1 llOtlS KatimntPl r-.
',r"""',,-"('1"; head, left oler, li 7s,i homl
Verv lime Joint;, few aaloa wBk to lie
loer than jatrn!n s avernce: Jlu 13 1,1.1
Qu.illn moatl nood.
eilJTU:T.E'i"rn15'1 ''"'eP'". 1"0 tiainl
RIILI.I l.stlmated receipts 17,0in) he nl
(.1
.o.l
02
:i
Ho
12
(.'
ni
1 1.1
in
nl
id
HO
nl
113
nl
M
JS
'
III
III
111
111
III
III'.
IK
-'3
I Commodity Markets
COTTON MARKET
Ne 11rk, Ieb. Itl - The cotton mar
ket was irregular nt the start today
at 12 points iidwince to 17 points di-1 wt,i,h ...h T, ,, .
dine. Spot Ionises ,.ere the ' nrlnrlmil an 7,,,,'.,.?h' ,..ln ' .'oa-ir''jr'!PJ
sellers ut tl npiiilng, while Wull street, iytJ ,T! rUr ilslit orlem aiid plei" tll"i
i.m,i,llnn ..r.,1 . ...... f.. I. I'll 4U
..', ,,,.,..'.. ti,,,. ,,n,- ,ii 111,1 vi u lull I Sill. 1. 1 VI) f IMHS n 1 ,
btliers. Liverpool sold, despite a favor- head StemV To'.''hie'p. l5.Bo7top I'amlli"
able lullng of English cables. There ,n(vn. ..,. ,
was also considerable belling for protits jis w'w-a """ " head, sioady Tot.
t).i recent purciiasers, hut this cotton I
was soon iihsfirhe, mid tlm st 10 1, 1 "'.". '" '.'.
---- -- ..--., ...... . .. - . ..-.. I (,,, . fs, u .,
iI.riRKUj SsToi U-
Hill .
:i.ri "
l!l7.
Ml,
7.'.Ts
no 1.. -
.Ha
lf's .10
l,i'-s
:tni,i
,'ii-ii
l!Ts
S
.111
"impsr tnr wtli ..in
M'ar'
I1IU" lul
lluolh
' O I'
. oinii FT, Mji
,r.i( karjaik
DlnmoiidrHld H'
Jly
KliirHrci
rioUlfleld 'on
OoMMe'd Meruai
lOo.dlloM Vr
llreat Hen.l
lumlsi Ei .
KcMnnua
I Im fiar
. iro
tted Hi:
sine' Pli a
1 sp,.,irh'an
I
M Ii
il' ,
l
1 ' . - "
7 7-10 I. ib Itmid
2d l',s..
! 1 .. 'Id l,s
7 .'MO ith l',a
Ji) Vic 4:'ls. .
." I'eiinu Co
('.' s . .
I !l 1(1 I'll. In i:ie.
1st .- S-.-I
Amcro
r t Unite!
Ilrten
lnihr l do
1 s'aa in Hills
,...... ... sjeiadu W mUer
Ml SI) Mi.hS Ml mi -.(Id Tempi MtnltlB
!o in no in 00 ii- 021
S7 Id S7IKI K7 lil-e
H7 .'12 !7 21 H7 21
s.",i:
i
(ii
Whim 'api
W.ll-rl
nl
liul. ' '.i
id
.in
o'J
07
2. on
07
3
KI.I.AM'Ol'.
1 -'Ii
in
Id
A IT.
O!
.JI
11.'.
07
il
07
nil',
O'J
OS
'12
III
11
o
iili.j
U.I
Irj
II
(if!
Os
till'?
3 no
1 All
II.'
'r loua 10 30
f'lua.i Open a ni
13 HO 13 0A 14 10
14 111 ll'.Vl 14 A"
I I 7. 14 SO 1 ('.'
IA In lfi.lU IA 2(1
If, H2 IS 2H
1, VJ 15 J J
il'i
03
2 '
I'"
MONEY-LENDING RATES
M.l 1 CtltlC Monev oii'ctll, ,'
1 ot collateral ojicni d todnj at
nt for bnillng Hnd rinewln'if
is.
Atlantic RcfininK 6 's. 1931
Gulf Oil 7. 1933
Tidewater Oil 6'':s. 1931
Empire Refining 6s, 192 7
Copper b'xport 8a, Serial
LHG. 1.8s, 192 3
General Asphalt 83, 1930
Herahey Chocolute 7' 2s. 1930
Danish Municipal Loan 8s, 1946
ifyncr. Agric. Chem. 7' za, 1941
" ...woile commercial paper v o iprie to
Uxul oiw land Title Uldtt. "' Hi Isiv n ontlis, la Inlng offired at 8 to 8
Reserve Banks' Discount Rates
litfl-Ul rullac" imi r ilea Ht the twelve 1'ed.
' -rul luwri lui'aa .ir a followa:
1 Ufa Iinnda Pillar Aiifi'
-l. U 7
Pill! WiI'M'IIIA fall jor oni
. n tl far cefit . conimerclul paper,
tlirie to six months 1! sr tnt
(Von- Tin se uro meiely nominal
,iUitatlons oh the legal rate of interest
in the state of Pennsylvania Is tlxed at
h pep ient Plus premium ami mmiula
Kion time monoi for thlrtv to nlniti
ravs Is loaned lit 8 lj 8' per nut
il
til
11
u
, iti -1
-,... .r ,
I I'h'lndelpli.i
I. I.I.-I..I.I
Ii 1 birionil
1 It'hnii.
1 'hliMtfo
.st Uh
Mll.l.aapo'la
)lina I llv
Dall.ia
Han r.itiela'
A' per tent '" lpr "iur, I A1, j.r
reni crtlflii and A per eent en p.ipnr
Heiui,'l 1j i per n'tit and A i. r tt'nt ' "r
Utl'iiii" MM, ui t rai' urn aponda 'sith l-eriat
rule tsirne l, , , rtlll ut.'i, pli-dv, ,1 ua colUt
urn! i illi nilnllllu i of A pi'r ent in the c.lae
il 7 il
A ( '
,"., H
il il l,
A'v 7 il
il 7 f
.1 ' T
il i. 'i.
Vj ii r.i.
it ii n
htmdj Im' r mi the basis of 1-1,50 for
Ma-.
I'rnate messuj;, N again reported n
better business nt Manchester. Contin
ued stiength in foreign exchange- was
one of the bullish inlluencis.
lleceipts of cotton ni the ports for tho
day ure estlinnted at 10.000, against
HOI! I bales a week ago, ltl..'17t! bales ft
year no und l.H.! bales two ycurs ago,
Mn
-Mi.)
Jul.
(icl il , r
lie. . ml'
Jut. ,.n
GRAIN MARKET
tliic.iKo, l'eb II!. Selling of wheat
was fnirl ni tile this morning und the
market was weaker. Iteiirish sentiment
was modilleii mer night. It was the
theory in some quarters that the recent
upturn wns due more to u strong tecli
iic ni position than to nn real nlarm
over the spread of green bugs. Some
coiermg i nused a partial recover) from
the bottom but the feeling was nervous.
Mnnli opened at SI. 7". to SI. 72, und
later sold ut 1 7."Aj, against $1.7riV
at the i nd M'sterdaj. May started at
SltS''. to Sl.iPJ.'i, uguinst .l.tl.-i.,.
i jeateiday's Inst price.
I orfenngs of corn were more liberal
, and the market was easier. Colder
'weather In the far Wist wns expected
: to improie mads in the country and
' facilitate the movement from farms.
I May opened nt 72'e to "lc
IniriiinHt 7l";,c nt the close yesterday.
Juh started at 7-1 Vjc to TiDic, ugainst
74r'sc at the end yesterday.
Oats followed the other grains. Mn
i-turteil at Ul7sc to 'Hl'ic, against
17 's' .Msteidaj's last price. July was
fpioted at Iftc to l(H,c at the fiiitM't,
against 17r,sc nt the end yesterdni
lli-ad
)"eh. 10 l-ATTIJ. -
i,.i 5fi .. r; :..".""" '."''ii '
iii ii. , . '" ninnyr. o in no.
JILKJS His ept jjot, head Steariv. .N.
ml,,.. "In 5,', .r.r:.J!r.i .'.'" '"".
Ill ')1fi n . " "- l-i iu IHTlil J'OTKCrH
l71.-,r,1?,i,,,'l0iv,"r '-e1-25. ri.
,i.i, - ....- i.tiiiie?, 4UU I, IU
lllhers un. h., nk-'J
JU .".
Arm ("nal
Allied I'arklin;
Hrlt Am Toh ioup
Car I.luht
('otumbla Kmetald . . ,
Purant Motors
Tarrell Coal
Haines Knlttlni; "A '
Haines Knlttlnir "11''
HaJnea Knlltlne pref
Inter nubl.er
lhlith Val C ft N
I'eerlees Mntora . . .
Iladlo Com
Itadlo Cum pref . . ,
lteadliv rrshla
IteadlnK Coal
tiweeta co . '.'ii
f S Ship Corp . . I
U ,S Mcam ... . . . ri
M.:D.tKI OILS
Anrlo-Amcr Oil 18
Ohio Oil . . . .2SA
Stand Oil of Ind new 70
.Stand (HI of N V . . ,.1A1
High
04
lii',
. . 3
... 3
ir-
: H
mi
. 12;
.
IH
:.: M
lAivr
,55
,i
2
IS,
14
I4'i
till
124
07
U
0.1
2',
. i
1 10
ii
131
1S
14
,41-
B0
I2S
nn
Ml
iS
2'i
I
IM,
281
Mi '4
3J(
is'.
JS.'i
l'l,
3.M
iNncrr.MinxT oils
IS
V;,.A?.ute. j:b..-"..-fATT!..-
hi..,.., n- . Vi . "'" rc ifl ana jne
ris'er Top Is 7,".. h k ITIBTTK !....",
i.u : iii..K.iu v..o. z: r ..y.""r.,u"
..7. : . . '. "4y . "si i-uwa. tois a.7n
and
Allen Oil
Allied Oil
Iloone Oil
lloaton Wjomlnit .
Cnrlli Hind . .
cities frenlco "JI" clfe
Ciiahlnft Pet
Denny Oil
Klk llnaln Pet
C.lenrock Oil .
llnualnn Oil Plef . ...
Int Petrol
Marnealbo Oil .
Mcrrltt Oil
Mexico Oil ......
Mountain Products . .
Noble
Producers ft Henwra . . .
lied Unci! Oil
Jtan Cona
Halt Creek now
Hltnma Pet
M,!lv Oil . .
fn TeIHs Oil
'lrlorla Oil new .
V Oil
.minim;
Alaeki llr Columbia
Alaska llold
Alaaka Mlnea . ....
Atlanta
ltotdnn A. Montana .
Caledonia Mlnlnv
Calumet & Jeromo . . .
(andelarla Mlnlns
Cona Virginia
irie. Siller
'reason Hold
Crearei 1 MacNamara
1:1 Saiindnr .
I'nim.i Silver . .
I'ureka liolb
Gold Cona ....
Gold Iieiel
Ooldlk'M I'lorcnce
llold Kevvanaa
Gold MlMT l'lcls
Clold Zone
Great ilenil
lleoia Mlnlnn .
ron Illoasoni
Juiulsi Kxlenalon
Knox IMildo
Mai Niunara
Marsh Mlnlne .
Mother laidn
Mother Ix.de new
Muira Men
Nlplaslnk
Ophlr sillier
prince eon
Itav Herrulea
Hex Cona . . . .
Stand Hllier Lead .
Tonopali Caah Hoy .
Toi-ipah.JIni Puller
Tnllopill .inninB . .
Tonopali MUpah
ronopah Montana .
I s Com
t'nlti'd Kna'ern .
iion ns
Allied l'.irkar fia
Ainer Aon Chem iVj a
Am-r Tel da 1U2I
Annciiida topper
Anaconda Cop 7i 1020 . .
Armour 7h ,
lle.n r Hoard 'as
lleth Steel 7. 103S
Chile Ceil a w I
C rrn ,l Pasco ha
I'unul.i, mK.
)"'eiu,er Kxiiorta Si
Diamond Matih i Si a
Oaleni Slitnul Oil 7s
llorernl Aaphalt Sa
Goodrich Tire 7 .
Grai.-l Trunk rtVj
Heinz Co 7a
Gulf Oil s
Interts.ro llTIi . .
Kennetolt "a . . .
MorrlH Co 74-a
Pal Amer Pet 7a .
Seura IIih-Iiu. k 7 1023
Sin. Iiilr 7'3
Soliav s
S il of N Y 7 1U2A
S o of N V 7s, lH2n
H (i of N V 7a. 0-:
4 (lot N Y 7. 1fl30
5 u of M Y 7. HJ31
Saifl & Co 7
Texas Co ia
Culled in of Havana
Va i 'am f"rrm "''in
.Swedish Os
la
l
H' 1 1
211
-.
iti't
j.-iS
hri
4'4
1
S'
1 A1
Pi
IS
I'm
,sl,
L'U
iSs!
S'
i
St.
rS
1'
1.1
I".
1
s,
2H
in'i
113
l-'4
IS
S'.
1
K'.
1 1
I 1
US lit
11 11
IT''" 17A
1.
70 07
Vi 1
IS 17
i' A
n a "
iJ. lit
10 10
4s
'
II
IS
1(1
A3
r,'s'4
0
11
ll
0
4:.
10
II
17
in
A1
A 4
A 7
h'
'.
ft
17
Is.
II
11
II
.ll
"l
1
lls
II
,7A
44
7'i
I'a
17
.
3
Is.
Hi
.if'
in
14
17
HI
A.I
AT
S'li
ft
0
17
'.-!, h"her 0tfI-- '' "ml feed
Liverpool Cotton
IHH.S
uie un.!
in, r.'.K.
Hums in 4113
p.ica.r sows alpadl
lo,r oualltv e,l
,H'!.",!-'i-.T'.;r',!''"" . 00l Head
..-. ...... siimiir -i) .( h irhar
nt !f Rfift k..j if.i..
1.1. iu.k. fieailvH. 10 f ft 4(i
l'(H. HIPUQJ' JO il,i
iTiirly nr.
aa r j .
S.-l.l.uVmV rn,ed,,u,rn,e.oW:rJ:d.'f00'J """
Raw Sugar Market Active
e ,.ri(, Keb 16 Considerable nc
nv.t diiidopeil in the raw sugur mnr
lo 1 late estrrda .Hales are estimated
at from jijO.OOO to ,100,000 bajrs of CubiiH
und Porto Itlcos with local refiners the
,,J.c ill lew Of the total s.U. upwmd of
.0.. iion b.iKH were C'uI-iih for prompt
-hipmeiit at 4 14 fnts, cost and freight
ei,u,it to C77 c.nts. duty p.id ; 001000
li.igH to 70.000 Porto Rlcni ... k -7 '.....
1 tf i . , -.. u., iriiin,
i . uim iipiiroximilteiy 25,000 buns
Art .11 AC
H7'i H7 H7'4
UAH WAS DAW
Sil'.j Sll1. Sll',
P.l'j ' ll.Vi I'.Hi
H7 lll'i'a Oil'.
1111 H0 Hli"
on ni. ha
00 CS'a 90
nn i3 in'. mm,
tni. 9nl nn".
ns', iis, im,
ioi4 ioi". nn1,
111 K!4 H3.
ini Hit im
no', no no
tir, iia ('".'.
H7 07 P7
II7, I17'4 7'i
117 S Wi (US
(1111-; Jlil'-i Ind.
nsv 08 ns
03. Il3f (13 V.
(IA'4 03V. UA's
U2 III', HI'.
liio inn inn
101 WO", 101
ini inn, ion',
inp, intv? ioh-j
loi' lOHi 101H
ms ldJ lie,
tins cihj ft a 4
lis'I UK's l'S'4
(ir.i-j ot 'u in "4
SO SO HO
I
K.ll,
. ; , "r" '"r iMuiiipi snipment at
4 1.; 11 ms Apart from the ndvance of j.-,
points In tho price of refined b tho
Aiiiiri'iill Suear Hefllnlnir in 1 r.n
Ii ss . per cent for CJLsh. tlio lr,l .
I in d m.irlift is unchanged. The b'edenii
and rbuclclo are still withdrawn Ar
in lis of raws Included 20,000 bugs of
' uli.is 10 .in Importer. 16,000 bags to' tlm
Uni-iier Co and 2000 lings San Dumln
K to tlie Amtrlcan Co
, Prices Heavy on PariB Bourse
Hiirla, l'eb 10- Prices wero lu-ai i on
i ,,,' imuiM' louay i iirce our cent renti.u
jetv J'oiA Tif. C:ititrfofi,
Cuiki
'
-n )
t
' l.i Is ,11 i I 'I'
n 'ii. a a
itininj
delpu ,
Dallas and
lull
Pel a
i. eland
I I Iterponl, I'Vb 10 t'jajt cotton was I t,8fr C5c ; exchangs on lndon 52fr 4Cc
euHier IMS morning Willi prices lirm nn r, per eent loan 83fr 95c. The dollar
tlm basis of an advance of 31 points was quoted at 13fr 30c
for middling at S n3d. The sales were .
5000 bales The reolpts were 800 ba'es niwinruni! ncei .arn
none American Kutures wero steady in DIVIDENDS DECLARED
the eiirlv dealings Spot prices were i ivderal Mlnlnir i.nd HmelllnK Co. ouar
Aiitfci'iciin miuuimg lair, u ini , kuuii teriv i per can, no proierreu pnarua Mart
mull ins 9 87i fu 1 m Ml n. la. m "w "' '"" rsmvnry va
. - ... - .. . . ...,. ' n,i,bi r nni. n n nr ,p 11.
1 7(1
7di
V
11 iddliniT X S2il low mllldllnir Uuasri "n ii ,lv ens l'i per, rest
II Klllling a Will, IU llliuuilll., mmmnii and nllirlar v I U. nr ,..,. ....
rod oeolnan' 87(1 and crui- ;ff,rrid hn.h , at as 31 lo ' stOsk of
' jCWru -ilS J r
1"
Copper Stocks
Pointed Definitely
Higher?
Recent market action and
announcement of plans
for Tinandng a large scale
copper export movement
would seem to indicate
that that is the case.
Certainly the market posi
tion of the coppers ban
become little worse vrith
many dividends passed
and -production, for the
most part, cut to less than
half of capacity.
Market possibilities of a
number of the leading
copper stocks in the event
of a renewed demand for
the metal arc described in
our Bulletin PL-41.
Copy sent upon request.
No obligation in writing.
DWRLEsRClflRKSONfiB
66 BROADWAY NEWY0RK
TElXPHONESiRECXOR AGG3-4
Exceptional
Opportunities
For Investment in
Underlying Securities of
Corporations of High and
Proved earning power.
Bonds of established cor
porations may now be
purchased at prices afford
ing most attractive returns
over a period of years.
Conditions brought about
by the period of industrial
readjustment in progress
at the present time will
lead to much higher prices
for investment securities.
We advise the purchase of
high-grade securities for
investment at this time.
Henry I,. Doherty
& Company
001 Morris Building
Philadelphia, Pa.
Telephone! Locust 1419
Progress in the Development of the
American Merchant
Marine
lias been a subject of general dis
cussion recently.
We hnve had nn opportunity to
secure first-hand knowledge con- '
cerning the important part the
Atlantic-Gulf & Pacific
Steamship Corporation
plays in the development of our
Merchant Murine, its business
nnd outlook, through n search
ing investigation nnd thorough
study made by us.
Th,a study Is mailable f.ir
dlxrlliutlon. Write, for a copy
A. B. Crouch & Company
INVKSTMIINT IIANKITIIS
1036 'Widener Building
I'll MwlDKI. I'll l.
Telephone: Locust 38i
II
FOREIGN EXCHANGE
Neve York, l'eb 10 Tho foreign e
cbaiiKo market opened nt general nd
vanes r.inKliiK from H cent In sterling
to 11 isiints In guilders The paramount
Influence was the strength of sterling,
which leached new hlch records nt
3ii2 for cables and 3 2 for demnnd.
Francs, at 7 49 for cables and 7 18 for
checks, wero 3 points aboo any prcilous
record on this movement and showed n
iraln of 1" potnlB to 10.70 for cables and
10 fi" for checks
Other quotations were
Guilder cables 34.00, checlis 34 CO . pe
tetas cables 14 24, checks 14.22; Stock
holm cables J2 65, checks 22 A5 ; Chrls
tlanla cables 17 91.. checks 17 85 ; Cojien
luiKt'ii i nblea 18 70. chocks 18. CO, Bel
gian cables 7 S2 checks 7 81 , marks
1 75
VnSTKHDAT S 1-1NAI. (Jl.'OTATION.S
Sterling Tranca l.lro Gjllders
n n-.mil ( f'l'l 7 3K II Ml III An
( aides 3 02 7 HI 3 71 31 il
'(lIi.Y.S OPENING yl'ilTATlONS
hlarlltii Trains Lire Oulldera
Den. and 3 OS 7 IK 31 Ml
Cable 3 tl2'. 7 10 . 31 OH
Brazil Loan Goes to London
rw York, Feh. 16 I'rlvate catile
advices from Ionrinn Indluie that
linnklnif lntersts either huvo closed
or nre about lo closo with tlm
iirnzillnn state of .Sao P.iola for
t0.000.0iiu loan jjetuiiH oi ino operation
nre lacking, but mention the n.iinn of
Schroeder Ai Co , lntcrnntlonul banliers
us hnvltiK the trnnuactlon In band at the
London end More tluin usual interest
d'taclits to tlm loan In lew of tho fact
that tho u-uilli'd South Ainerliun bank
liiK itroup In New York carried on ne
gotiations for some time Inst fall, ei'd
the d"al was about read) lo bo closed
when an eleventh-hour bitch choekad Its
consummation Thnt loan was for ap
proximately 130,000,000 and huh to run
for fifteen lo twenty-tlve years, bearing
a coupon rate of 8 per cent.
PAR SILVER
liar sihcr drooped ',d In London fo
iliy to 34d This Is n new low record
fr r the var and the low st piles touched
slnco plS.
Spruce 8200
BOUGHT SOLD
QUOTED
Louisville & Nashville
Equipment G ' a 1 022-36
Chi. & Northwestern R. R.
Secured G'js 1936
bUCLUITILS ULPAIITMI.N T
Commercial Trust
Company
Member federal Itctcrve Si.tem
City Hall Square West
Difficulties
of the Past
may havo been avoided if
you bad taken tho rlsM
road nt the beginning. Some
roads nro long nnd straight
mid lend to the laics of
Success, while "othcra are
narrow nnd rough and we
can go but slowly and prr
baps never reach our nought
destination, Havo you chosen
tho proper road? Have von
Joined with tho bank most
suited to your purposes
Convenience, liberality and
Intorost In your business are
all potent mattern for you tn
consider, and- wo nro giving
nil these to our customers
Conic anil sec ti
Third
National Bank
In the Center of Things
Oppobitc Uroad Street Station
AScrvtcei
TB4T nu
A fTHP4CTlM(
L tTOCI
I XsOKBf
'IF,' 'AND'
and 'BUT.'
In cliool no were (nuslit In iljss
Ihese words n lUurrs of siht.Ii
iinjiiiiitlniis, If ne rtnieinher r
eelLr,
In Kolnir llimueli life their srlin
I islle drdiillloiis nre lost upon lis
nnd we le.irn to rerocidre them its
lljiirrs uf eipresslon, no loncer In
i "rnmni itleiil sense.
"IP." "A MI" and "lll'T" nlmt
mlent lime beem u priti'llcnl e
lirtssron uf relief or reiret opor-
ttmllj cnlned nr lost,
A SIT.CIAI. AHTICI.i:. illneusslns
lids sulijert us It nlferts tlie In-
.eresls of the Inieslur nnd Iruiler,
Ii is been prrmirrd Ii' oar lldnni-
II, mill Dept. for frrj distribution.
Ask for Article "LR"
MiltonHeim&Cq
STpaS-FOREIGf" EXaiANGE-BO.VOS
' HtMBCffS
PHILArJEUHIA STOCK EXCHANGE
COHSOLinATED STOCK BCCh7mWr:
1G22 Cheitnut Street
I'lionrsi Hell, rlpruee A017-I30O
Keystone. Horn 7AU
71 llranilwny & 48!" Ath Ale,, M. V
fprlmtileld, Mnns.
Stiimford, Conn,
Wc have orders and solicit
inquiries in
Louisville & Nashville
Equip. G'js
(iulf Oil Corp. 7s
VJ33
Atlantic Refining G'is
io;u
(ienenil Asphalt 8s
1930
I'nited Gas Improve-
ment 8s 1923
Moore, Leonard
& Lynch
( 1 S11MAX NRWIIAL1 '.
ffoiuf i'rparfrnc-it
1 '129 Walnut Sticct
flnnrd Hooni
Ritz-Carlton Hotel
.lfembers
New York Philadelphia A lvt
burgh Stock Uxcliangts
Wobstr Coal & Coke .'is. 1912
Louisville Gas & Elcc. 8s, 1923
Coni'wcalth l'r., lty. & Lt, 7s, 1921
Amer. Water Wks. & Elec. 5s, SU3J
West Penn Power 7h. 191G
llrazilian True, Lt. & l'r. Cs, 1922
Chalmers Motora fis, 1922
Monon. Coal 5s, 193G
Morton Lachenbruch&Co.
12 IIKtMIl ST.. N.V ,,,.
i.i,ii nv. i,.nhni ,i Wulnut A4H7- I"
I'm ite Wires lo 5f' "
st I.oiiIh IMt'stiursh Ditroii
Urand HnPlds
I'tiim"
lee ano
GHO.A.HUHN&S0NS
BT(icnn ANnnnvpi
Iemlri of Hie rhlliirtelpliln. New
VoS "nil Chleniro Stoek F.irhanm
Neir York tvtlnn WtpIissw
Commlsilon Order. E""
All th. Principal M.rb.U
14 IS Walnut SI.
New vonit MFi-irn
111 llroudwar. ew rli
I . J Ii'
IUIMII VVIBW"7
PAYMENTS
Onj cri monlh liuy any Slul
Ut orslbocJdM-ntBK,
GuTinuij a MVQavuiit
HENDERSON & LOEB
Members Neto York and
Philadelphia Stock Exchange
1410 Chestnut ac.
Lucerne Co. Gns & Elcc. .Is, 19 is
Consnl. Trae. of N. J. 5s, 1933
S. S. White Dental 8h, 1930
B0EHHIHG, GARRISONS CO.
HTOril Rl'll.N(li: IILII.DINO
DU-ect I'mutr, lilepliune o .Sew otk
Meinour. 1'Ullu. Stoik i:cUuuJ
Stockwell, Wilson & Llnvill
Certified Public Accountants !
Lar-U Iitle Eldfj., Philadelphia
STOCK SALESMAN
Mtlh nr wllliinit folluiilfiR """'
einerliiMid and hue V I ''n J
,.,11 on ileiin im hie bi 11 few u""1"
and form proiiiln, ill ronnrtllon H "
11UI1. 1'liune L'uniili-n 31 1 ' Mm'
llirni.
Safe bonds for Investment
HALSEY, STUART
3c CO. Inc.
l-(
hi.
i !v"
1..