1 r V i' rW mj BVMlNa PUBXJfc LEDEI-PHiLADlELPHlA, WEDNESDAY, WtttCAJRY ,16, 1921 It i!) $10,000,000 Deere & Company 7V2 Gold Notes To be dated February IS, 1921 To mature May 1, 1931 Authorised ud to be Issued, $10,000,000. Principal and interest payable in Chicago at the office of the Trustee or, at the option of the holder, la New York at the office of The Chase National Bank of the City of New York. Interest payable May 1 and November 1; coupon due May 1, 1921, will be for 2H months' interest Interest payable without deductun for normal Federal Income Tax up to 2. Coupon Notes in denominations of $1,000 and $600, reenterable as to principal only. Redeemable, at the option of the Company, in whole or in part on any Interest date on 60 days' notice, to and including May 1, 19M, at 105 and interest, and thereafter at 106 and interest less M of 1 for each full year or fraction thereof from May 1, 1922. SINKING FUND Sinking; Fund, commencing February 1, 1924, sufficient to retire $600,000 principal amount of Notes in each year 1924 to 192S inclusive, and $62G.OOO principal amount of Notes in each year 1927 to 19S0 inclusive, to be used to purchase Notes at not exceeding the current redemption price, and to the extent that Notes are not so purchasable, the balance remaining in the Sinking Fund Is to be applied to the redemption of Notes by lot at the t current redemption price. Central Trust Company of Illinois, Chicago, Trusteo A letter from Mr. Burton F. Peek, Vice President of the Company, copies of which will be furnished upon request, is summarized as follows: Deere & Company (business founded by John Deere in 1837) is one of the most important manufacturers of farm implements in the United States, ranking first in the production of steel plows. The Com pany's products arc distributed through its 6wn sales organization, comprising 30 branch houses, coyering practically the entire agricultural sections of the United States and Canada. The Company and its subsidiaries (the entire capital stocks of jvhlch it owns, except directors' qualifying shares) own 14 manufacturing plants located in the United States and Canada. Fixed assets, compris ing manufacturing plants, branch houses, equipment and other property, are carried in the consolidated balance sheet (on .the basis of an appraisal made in 1910 plus subsequent additions) at $23,812,947, against which a depreciation reserve of $4,413,338 has been set up. The Notes are to be direct obligations of Deere 4 Company, issued under a Trust Agreement which will provide, among other things, substantially that, so long as any of the Notes are outstanding, neither the Company nor any of its subsidiaries shall mortgage any of their real property or plants (excepting existing mortgages aggregating $85,000), being permitted, however, to acquire additional property subject to mortgage or to create purchase money mortgages upon property hereafter pur chased; that the Company and its subsidiaries shall at all times maintain unpledged current assets equal to at least 200 of their total liabilities, including Notes of this issue then outstanding, and that total borrowings of subsidiaries shall at no time exceed $2,600,000 in the aggregate. In recent years earnings have been as follows: Years ended October 31 Net Earnings after Interest, Federal Taxes, ' Depreciation, etc. 1916 ........ $4,117,993 1917 ........ 4,932,026 1918 4,834,987, 1919 6,267,177 1920 4,647,718 The maximum annual interest requirement for these Notes is $760,000. The proceeds of this issue will be applied to the reduction of current liabilities. With the exception of $86,000 of bonds outstanding against the prop erties of two of the Company's subsidiaries, the present Note issue constitutes the Company's entire funded indebtedness. The Consolidated Balance Sheet of the Company and its subsidiaries as of October 31, 1920, showed Total Liabilities of $22,620,696 as compared with Current Assets of $66,606,268 and Total Tangible Assets amounting to $80,418,205. 99 and interest, to yield about 7.65 Wku, ti tad If lined sn& subject t ipproral of coaniel. It 1 expected Out temporal Itotos or receipts will be ready In dtlitery about February 23, 1121. AH legal detail pertaining to tail itjuo win b paned npoa by Merer. Pam & Hurd, of Chicago. Central Trust Company of Illinois Guaranty Company of New York Wo at (turaatt tie rtaUmti'j tad figoita coatamtd htxaia, bat thtr u Ukoa nm a wcm waita wo time ( bo rebatlo. City of Philadelphia 4 Per Cent. Bonds lntereit January 1 and July 1 $25,000 due January 1, 1945 25,000 due January 1, 1946 50,000 due November 1, 1946 Fully Registered Bond Interchangeable for Coupon Hondo, $1000 each Free of Pennsylvania State Tax Free of All Income Taxes i Price: 90 and Interest To Net 4.65 Per Cent. Biddle & Henry 1 04 South Fifth Street Ihe Information and xtnttiftlco contnlnrd 1-ereln l.iuo heeii btuliu-d from source which no bellow to be reliable. Industrial Preferred Stocks 19191921 About two years ago preferred stocks reached great popu larity and consequently high prices. Today the market for preferred stocks is depressed and prices are very low. We suggest the preferred stock (listed on the New York Stock Excnange) of a strongly entrenched corporation, at a price which yields about 9.50. rite for Cut uhir 7307 Bonbright & Company 437 Chestnut Street, Philadelphia New York Boston Chicago Detroit Safe 'Profitable tocslmonls WE OWN, OFFER AND RECOMMEND Long Term, High Grade, Public Utility Bonds Penn Central Light & Power Co. lot & Cons. Mtge. 6 Bond due Feb. 1063 Price 8G & Intereat. To Yield over 7 Pennsylvania Power & Light Co. lot. & Rf. Mtge. 7 Bond due Feb. 1BS1 Price 92 & lntereit. To Yield about 7.68 Ohio Gas & Electric Co. 1st Mtge. Sinking Fund 6 Bond due May 1046 Price 88 & Interest. To Yield about. 7 Descriptive Circular on Request IR&dmond&ftL .1 COitniS'ATlOS OF FRAZIER & CO. AND REDMOND & CO. Broad and Sansom Sts. 33 Pine Street Philadelphia New York Pittsburgh Baltimore Washington A CLOSED FIRST MORTGAGE Outntunillnir 10 Yearn Umlerljlnif si40.onn.ivin junior IlomU nun: iu:nmi: tiii: wau, id: Now 82 and Interest EDWARD V. KANE & CO. Morris Building New York Bonds (BALKS IN ItOOOl Amn Airrcul AOcne'l Klcc Be Pertna n n ." Chpm Sb R BOH 2 00V4 4 00 B 00 Amn Smelt IlnC'if S 1. . . AS I n ret . 08 i , OS'i . 0Hi 08V4 . t8W 77, 7 DBS i 77"4 10 ... 0SU, 774'C1 BwltaM rcti 77' 1.... lOK'i 77tt t .. 102W T An I 1 . 103H 81 Si 1.... 102 82 I 1 102 1. Oovt F 70 . . 4. . 128 .. 8 10.. . 7.... 1 1 ... 3 Am T & 4.... 1.. Am T & T 0 KM Trunk rct it. 4 . 05 i 1 . , 1 .. 0S4 1... l. . . . (iriiiu(i & a osw i.. 1 . . MM 4. . Armour 4 4 2.. . 0.. . 70' 1 . 1... . 7mv;, 4. Atch Topeka & llu.l & 0 884 1... . 884 1 S84 2 88 ra Jill 04" wl 6 .... 004 2 004 1 D04 6 094 ". .. 094 00 4 004 00 4 B. 10. 2. Prima 11 It 103 101 H'n l' J 1. ... 704 Atch Topelm H'n Fo 4 2 ... 78 4 .... 77 S... . 78 a... . 78 Atch T B I'd Itky Mt Dlv a.... 70 A Count 1. clt B .... 01 A fount I. M t 78 1. 1 7 . 10.. IS 10 . 10 7. 01VtlVorla l"n lt 101l' 1 00 Man lu'IVrn Marut B . 03 i 2 A2 . 034 2 824 . 03 ritt Cln Ohl 4 . 03 St L. a B 03M 1 3 Miui inlrubllo Bervlco 314 314 314 31 814 30 80 80 III Cent' I B4 C. . 004 0 . . 00 B... . 004 1 .... 004 Inih Met 4 4 12 204 A (' Line I4lni Met ct 44 0 184 Inthuro 11 T tl 5S4 884 A3 4 53 fc 83 1 . 004 II & O Tol 4a 8 .04 4 Hell T 7 lets 2 . . 103 2 102 Ileth Hteel 1st 1 .. 80 IIltn-K.ll Co 5 1... . 20 Ilrttm n T 7 1 484 Ilkn It T ct 7a 1... 3 Drkn, ruplil T ct 7 ita A . 404 Aft 10 40 104 10 . .. 404 17 404 Cnlf. l & I! Ai 8 834 Crmdln N n niy p't 8 101 2- .. 101 2 . 101 1 . 101 774 Atlantic HetV 114 wl 0. . 2 ... . 00 S. . Unit S. Ohio 4a 11. ' 1... 08 1.. Halt & Ohio 51 2. . I 1 084' I Ilrf.lt & Ohio 01 4.. W 3 ... 00 i 10 . i 4 . 01 I 3.. I 2.. . 00 21 B 'lliOI'liC 7 . . . . 84 ft W Va 4 I M Marine rt 1 804 Iowa Cent'l 8 1... . 70 Jap aove't lt A .... 82 12... . 824 (1 82 4 .. . 83 Jap dov't- 2nd 20.. .. 824 10... . 82 . 8.. .. 82 B.. .. S24 B 824 2 824 2 824 Jnp Oove't 4 034 034 03 03 4 034 08 4 034 C N J li 1 01 Henillnif IIV 4 2 834 1 834 3 834 2 834 Hock !ltl A A t.oul'a 44 10 07 1...,. 07. iltome V.'ater'n & 0 en 2 07 St Ij l'n Mt ft H'n niy 4 B 71 St I. l'n Mt ft B'n Illy n 1 874 8 S7 Bt I B K In A.... 48 B34 1 B3 1 534 St I. ft rt Borlea I.... 1 8 3 1. 1. 48 484 V'rati h. 014 ... 014 ... 014 ... 01 ... 014 ... 14 8t t B Kran Series II 2 73 Pt I. How'n "a 014 St 1 A Kun B I. 44 J 00 St 1 & Sioux City 7 B I.. Seab'd , 1 . 1... Seab'd 1 Seab'd 1.. 9. 01 044 !. M 80 30 I. 07 I. 0 4H 48 10. 0. 8. 7. 4B. . .. 034 Bo' ii I'acifV til B 034 1... . 70 B 03 1. ... 704 Kan C & B 3l 8... 70 B 84Bo'n PaclOe 4 IC Ilelclum fli 1 72 014B'n rue c 4 1 . tOlUI 8. CM Ijmn . 1 .... 01 1... 4 . 00 K Ilels'm 74 Sn Pac Term I Ctl Itn . Ilkei 1 00H 1... . 7U Co of Oa R K llelK'm rctS'n IU11W 4 1 co n or Centr'l I New J r.B 4 . . . . 1 ... 09 1 C 4- O cv 4 4 - 4. . . 7B4, 2 1 . . 75 1 C'k & Ohio Ah' 2 1 ni'iiKlnitdom '"li ion A 2 ..81 2 81 Chi II ft Q irm 1 .. 804 Chi 11 . Q 4a 1 07 25 ... 07 41 10.. 074 8.. 074 1. . 07 Chlcatco Sill Ht P 4s '25 1 .... 704 Chlcico Mil ft StP fd 44 2 .... 0074 ChlcAso Mil ft Btl cm 4 4 1 774 Chlcaro Mil a St P cv B 2 .... 09 Chlrnuo ft Nth W'n d '33 1... . 00 09 09 09 Den mark ct 8 I 3 08 1 084 2... . 084 1 084 IC of Italy 04 83 Klncdom Nor ,ay ct 8 SJ 100 1.. .. 004 1 bVi 1 H0 4 l.alo Shore M B 34 re 3 00 jikM Shore M B 4h '28 1 84 IV.: Shore M B 4 '31 2... 82 r.eh V Coal A 10 03 I, IM It ton 4 1 73 0841 1 . .. 89 084 S'n Itallw'" 5 08' 1. ... 88 P9 (Standard Mill. 08, Inir Co D1 1 . tB4 SUnd'd OH of Cnlt ret 2.. . 1014 3.. 101 Tenn C Iron ft II P. Co R 1... 88 Third Ave .0 1 ... 314 8.. 32 1... . 32 Tldewnter Oil Co 04 wl 10 084 0... 084 18.,... 08 8.... 084 Vnlon I'Ai. 1.. tlONDON STO'CK MARKET I Home Ralls Heavy Dollar Descrip tions Flabby Oils Easier London, Feb. 10 DullnenH continued on tho stock cxclinniro today Mid itecurl tlcs generally drooled. The murkotp, In tact, were neglected with rates for money remaining- firm Tho home riilluny group had a heavv tono, owlns to nn unfavorable) outlook n tho contracting trade and high work ing coats Dollar descriptions nlo were flabby, in sympathy with .Vow York ex change Argentine rails weakened again and Mexicans, too, lacked steadiness nnu wero inclined to go lower Gilt-edged Investment Issues lost ground, and French loans Bold off from tho top. oil shares were easier under realizing Shell Transport and Trading was ;; nnd Mexican ICagle G. The industrial department had a ragged ap pearance Hudson's Hay was fi. One of tho exceptions to tho bearish tendencies was the kafflr section, which was well maintained Bonds Financial Briefs The average price of twenty active In- ' austrlal storks advanced .43 per cunt' yesterday to 76.90, while twenty rail.' roads declined .03 per cent to 73. OB. ' irtnftoB?vcrnnJent wl" withdraw in,-, 100,000 from the member banks In tho Now lork district tomorrow. n?tM.a"01al Clonk 'U11 Sult Co re- ' portM a loss from operations of 11.349.- , Jl8 for the yenr ended December 31 last. ?,;;? .,oharKln off depreciation of Inven- . torles. compared with a surplus after ih2 '" l10 ot .9.3. or " 20 a1 Bharc on tho common. in J1) Ntlo"at Enameling nnd Stamp- 1 ng (.o. has ssued Us annual report for the year ended Icombcr 31. The In- ehLII RCCOU,n' ?howa surplus, nfter all H,f.KT an'1 floral tos of 13.362.151. fi?viU aJeint' .""."- deduction of preferred ih?ltw''1,tSA,1T07 a Bhare cmed on me 110,591,800 common stock, as corn- S?n'r WltJ? 8urp,us ot 3,807,073 or 120 2C a aharo In 1919. The Mackay Cos. has Issued Its nnnual report for the year ended February I , and shows surplus after expenses and ,ie-ra.' le." ot. .333.G88. equivalent after deduction of preferred dividends to o G4 a share earned on the 141,380,400 . common stock, as compared with surplus , "I 3,6,211. or 15.74 e. share, In the i preceding year The tenth annual lxmtiuet of the trust j-oinpanles of tho United States will b held at the Waldorf-Astoria In New lork tomorrow evening. Preceding th banquet, conferences wlll be held throughout the- morning and afternoon at niuuii j. Arrnur House, president of the wuuruinn saMngs and Trust Co Cleveland, will preside. Investors should ask for our February Bond Circular. It lists many attractive issues of Government, Munici pal, Public Utility and Railroad bonds which we are recommending for investment. Harris, Forbes & Go. I'lno Street. Corner William NEW YORK PHILADELPHIA OFFICE: Widcncr BldB. i r New Issues Chic. & No. Weitern. . .6' Ohio Power 7 7", 1936 1951 1933 Notts 1951 1933 1936 Mil. Coke & Cat Copper Eip. Au'n... 8 Pa. Power & Light . . .T r Gulf Oil Corp. ..7 Un. Ryi. Havana Eq....7 We recommend these attrac tive Investment Securities and offer limited amounts subject to prior sale. Reed A. Morgan & Co. r ! i.f J, f" 1 S'rk Kxch. 'ft n:du , PMa Customers' Men Wanted of I.nrp nn !r Ftnrk lx-hnriK" It air. 1 1 s'if h'ph-r ii H ciit 1 ruble lu' i tlrn to tii n HH.-irv While 1 '- 'i .i"U 'lolr.B Mrlpllv I uMii' desire to oild t i nf ii orirnnlrailnn eer' n t Men Kxperlence pre i i . . rum nnciftl conniuera n i' cfttnlillHhed clientele tnena.inte with qualification Stockholders of the Allied Chemkal and Dyo Corporation havo been called to special meetings to be held on March , to vote on a proposed increase In au thorized stock of 60,000,nnn preferred and 1.000,000 shares of common. Such Increase would bring tho totnl capitali zation Up to 1113,043.675, consisting o' "".'ii niiuieH oi preierrea, lino value, and 3,143,455 shares of no vnluo common stock. dip t r.ix.r.n oitick par par Supt. Office BIdg. Ten jnir' exirlenee. Able to hnnrlle rnniilH hiucr. -fully. nurrhiiHe u)ill", ttc. Itc.t hiinkllii; rrferrncr. At liberty ifter M.ir. IS. v niH. u:iii.i;it tirnri: Stockholders Should Know Their Rights This up-to-date book let clearly explains many of them; also those of bondholders, etc. It also tells: The General Rules of Trading. The Rights of Stock and Bond Holders. The Deposit Require ments for Carrying Stocks. rfow to Give a Broker Instructions. Broker's Commission Charges. How to Indorse a Stock Certificate. How to Group Invest ments. Call, phone or write for No. TU-3G3 Latest available news fur nished on active securities JONES & BAKER Specialists in New York Curb Market Securities PHILADELPHIA OFFICE W1DENER BUILDING Telephones Bell, Locust 4730 Keystone, Race 2290 BALTIMORE OFFICE 433 EQUITABLE BUILDING Telephone St. Paul 8431 Office In 8 Principal Citha Direct Prlrate Wiree 3. Vuij. 83 i Nfnfmtpr ti. t . ' rn..i.. I nlOn i H " ' 'tiiin.-e 70; 5 .. 70". 3 70M , Union Tjc 4 1. . SO'i U i. Ol Kt urn & I'd 1021 DOM riiituuo 1 Nth I. I'd n un i a. . . ii Wn IU "7 1 . .. BOVji n- '? 1 . . 03 !T.ou & Noiih 4'U I. of "1 Hrlt i'hliiiB A Mh 1.. Rll & I'd 10L-J im wl Iu 4 Nash Ktl 1 !)." 10 00M niv ' r'-' (,:' Chlcoo K Il'd1 a... 100'dilOn . OS H l'ao fd 2 . lnou, 1 .. ' 1 .. 07Vi!Mimht N'd 1 '-' "5 fhlle I'op'r lis, 1. ... K4 I 0.... . OS 734 Mich Ct'l i U Iv of O firlt Chllu Cop'r 71 1 .... 774 & I'd 1020 I .. pr. Mlchlu'n State 2 884 Chine Uv .'. Tel Co (I V IC of Hrlt 4 .... 414, 3 14 I'd lO-l' Cty i.'h-l n h MM S 4 i 1" 2 """4 - . Prt ' 2 7fll 0 .. . SO 1 03 ; Mil l'ao 3 "US V a Mexico I -,l Cv- i. 1 .. 79 a.... 34a, I 73 N'ew Orleans ft 1.. 344 rii M.ir' il' S H'n 4li" ' 2. ... 8." TOIiH' H Alexin. " NEW YORK COFFEE MARKET New York, Feb. 10 The market fur roffep futttreH openeil irreeiilar tlii- mornini; with April i pnlntn lower while tup otner poHitions were une point lower to .8 points higher. Trndlnc vn fuirh nrtlve 'on tho ro'l. .Sentiment ,.., ngnln inflnenreil by reports that the ' M;nto of Hno I'ntilo wax now ntteinptlnu , to float n $2T,)00,000 loan tlirouuli London bankers. Prices were working lower around the noon hour on M'lllnR by a local floor trader. There seemed to be a fair de mand jiiNt under the market nnd on dips ' of Importance new long lined were put' out. Nothing definite has been made I known regarding the progress of the Snn I I'attlo loan, supposed to bo under nego tiation nt London. I'ruv elni On-i i .Mnrcn ii 4Mf(i ig vn 47 7.10237 7.44C-H1 T 7.'70 7 ?." 8.1001.' '((10 m,i.kintkm)i:nt or mi:c hank ai, ,.,.l''J,,,N XNI 'T1 'T10N. WITH ;;'''1TIM. MII1.1TY. Ilt rtl I'.M'.'i.A "'-l. "ITU KK1.1AHI.K mil. i.dikiI.h tirrici: STOCK SALESMEN We hiite mi nttrartlie iiriiixiMtiwi f;.r t eM.erlenee.l !! Itefereiiee reimlrril ' Iteplj llnv .rjh. I.filger omre TIN N( I w. I'MilemN (iniee iif 11 'f I nl. ill , t orner liru. ma. V W I nr,i..r It i .....,." ""'HI I phiiad,.ih;:-i,"v,",n' ,rev TO- I.rr .rnt. (H7Vje per khure) "n he iJref.'iri'! ?.'k .",,?',,' "-'"'''fir"1 '"'"hi ? Jliirei 131 '""j u:,tol'1,-r." ,ut r'f".r. ' s""-l ." record ut ih clo-e of busini'--. 1'. h cnechi win i. m .i I v MDfuirs reeor.l I "'" --H 1U21 i mi u R H .1 Tr'ii' rr I'rnpie, 1 1 1 7W N Yk 4 4 I.O'New.Or Tex S. 2 80S, Mixlco 4 City Pari in ' I . . . fiS'l' r. nit M. . . . (1.1 c Zurich rets'New Or Tex & 3 .... 00 i Mexico S 1 . . P0 3.. .. 04 I CTil t In f hi 4 1 114 h' I. Kin W 1 . 0 1 0"i 4 . . U CI il Cln Chi N i' Cent'l (1 Rt Lo 0 ' I 80'4 2 , so 1 80 T4 C'.-in .1 vJn 7 1 80 K 3. 5. 10. 1. 3. 5 2. 47'. 47', 7. S. 4M. Pennsylvania Power & Light Co. First & Ref. 7b, due 1951 Territory served Includes Allentown nnd Bethlehem end contains a popula tion ot about C50.0UO. Yield about 7.70 'Tax Free" in Penna. Welsh Brothers 028 CHesTNirrSmiarr Philadelphia Lombard 1S43 I'I'Kll rAULU l'ltOI'llsM.s VOU ( oi OHM. ,.r Ilrpot llmirtennimer. I . .". I'hll . i. v .. . . .... "...-. Ii. HI nui ft.u .., , Il.. '-.. 1921. t,r in," (1.1-r .vi.1. Inform,, hen urtll 11 nlahlni; 14 .'Oi' fi tlnn i)'i arri'li Hllon I'VKTM.Usiiii.v l.irtn. rhln I -t .,,..,.. nl '. Till K. roll an 1 llurr i;. tIiiiiii,i.i ni.mi uf I'citt A I'lunii.on. a lis,,,,, ,...,,a,h..f l..,rv ,: l'oHon.,..n,,.r ; I ' i ni i tn,,.. iu, IIAKItY 1. TIKl.NWl.V -urMiIni 1'ir'ri TA'VVi'- " MAItHIS. HMlllY K TII'l.MstiN I.I"1K I. PuTTs hi in -i . nr lleort-n 1' I .r,t. i i.eome ih. fr.ui l.. ill faHi'ii N'tle m lit r t r m . v ant'lnu in'!' Ini; ral ewti'ty ..i 1'ntN A '1 liniuniin .Iu ' 1 M H.iin I: tr i 1 m rnt 1'iitlN A f, r I . I'llll.l.I. i Ih-i- th.. l,u-i- ' ai 1 limine nn, '";, 'j1" I'artn. rihlp "I I t. aft, r I,.. , rt m-..n lnii.i, IhiiiiiMin. ,,t 2521 ITa HM1I1I F. TIIOJI.su.s What's Coming this Spring? How about business? Will prices drop further II or strengthen? II What will happen to II v wages? J Babson's Reports Y o - V I vat-lm I IJ r aaana s. I k I . . . . FEkiaiuiuuiiicici i:iicr jusiuu the press outlines coming con. ditions for you. With this infor mation you can see what's ahead and plan your year accordingly. It contains forecasts of vital interest to every business man. REPORT ON REQUEST This Letter and Booklet "Increasing Xit Profits," will be sent to interested execu'ives without charge. Tearcit the Memo new and hand ft to your secretary when you dictato the morning 3 mail. Mtrtly Ash for Oallttin 340N The Uibson Statistical Organization Wellesley Hills, 82, Boston, Mass. Tht Larnst Ornmiation of Its Chancier rid in t4 Work 1 1 a . Denmark A ct R I 1 1 1. PUS' 1 S0 OSUINow TNIU 0SH H 4 'BO 0HH 1. ... 4.T 08 ; N Y niy ct 4 Con ' l . .20 ,N Y ltwy .1 I US 1.,. . BH, nH'.j.N Y Tele'n ii Y V C ftl iMninarK II ct 8 Ur-u S, linu, New (iH4 Pent 4ii Con ' 10 . . 41 iNofk H'n It f,X'i1 8 Htee! 01 ' 3 . r.3 7 0.1 II il fJ Nfk . W d 4 3 . . . 0.1 Ut'd IIM fin Trail eqct 4i ' !J... . n.1'4 1 Si. B 33'-, I 4 331-j 8 3S , V B Ilubb'r " I 2 70 I 3 7H' ! 1 70 1 78 H rtubb'r 71 , .. .. 07S 1 . . 07 V I s nub " I 4 nn'. 8 . , niS' 2. .. 00 'i I l.... on'. The First National Bank of Boston Transacts Commercial Banking Business of Every Nature !L.. CUpOHHsrs ij; Memo as? i 7fli t w cv n 102 103 45 1 2 lJi-t-l-.il c '33Nrii 1 80 H ret-i:di ft ioi 4 1 . SO1 IN A V I'oco' IV. Can lil ' 111 I'nnl " 4 2 . 0J t 7H He Coi u In '0 Nnrlh Wetern lUH1 ll.-'l I'll 7 Pnm R-t "I 1. 00 v. 8 ... 77 1 . .. l'0'i Dim Ufht ii i 1. . 'iil4 1 80 i nil' F'lo u ni GRAIN PROVISIONS COTTON Our Oailv Letter Sent on Itcqutsl Hughes & Dier ( pi Umhn inijo iioord of Trad. . i-mance Klrhnnr. i'hlln. Htock Rxrhnncf ritUbnrih Hlo'rk Exefianr. 1435 Walnut Street proc (IS . PhlUdelphU IBM J, 51. rtAILICIt C. S. PATTON lnlllle ih. ,.. H. KHlp 0V4' Htrtul Viliintlc Hellnlii ComiLinj 0V.' OJI jilinilow n Trnttlon Cnirui . .' 1943 K tle l.t.. Pr. 4 Truetlon ft' IW! H?Mr i:IHiH ('ri. Herl.il ' 10S1-1H23 ' rSiil hprlnllelil lly. Co. V I0S3 ('..inMtlriit lt. Msbtlnir Co. IV4' 1031 J" .h V lr Trunnlt Co Ilef. ' 1000 '.'.-" II'll...ln.inn Jt II. .11 l.L Tt l'u 111' I tf iiiiiMijivii . "1-7, ;;;t: ivi Sailer & Stevenson SI AND CniiSTNCT ST. BONDS Tax Free, Yielding 4VS to 8 I'lilU. r. i iiinijUanln Cnipin Mi'i Samuel K. Phillips & Co. Member. Plilludrlphln Htock Kucbenio HOT CHKSTNVT MTHKKT Frederick Peirce BONDS Jp f INVKNT FOR OC VO. MKNT Ktl Chtitant Htreet, riilUdelphl. Utah P fi I. B 1.... SQ Va C Chm lis S. . 02 IS. Va Irn Co.tl & I'oUe lt 1 82' Vn nallw'n 3k 1 . . . . H2 r. . . 83 WntiHvh n let 2 88, 4... . R, IMI'iiWea'n Kl'o .'.' 414 2.. liHS. 1 0Ri 1 . 4!4.s"n Pacific 3;n Pacific lt 4 1141 1. . . 3l4 1 . . Rl. Ilrle It H iiv AOrenon S I. liiW A K MfK 7 Id'""5 ivenBtb50n Statistical Ors-aniMtlon, I follow: P!eae jrnd a copy oi special tiul I a fit fc iu.ts a I. Ill .1 kl A II I letin No JlOV and ; -rVnjr I Z I A'f rt't5"-Bratia'. SA--CTtlrflBMraJf j Make it your New England Bank Capital, Surplus and Profits, $37,500,000 a.. . I.'rln H 1 3SH1 1 .. . Co I i Mill!' i It Km I'l a 1, Ctl en ii Bl 70 811 1M.H 80 711', .iur ... 1st -if lht 1'is. LM -Ii8. :id i ,i . 4th P'4 Vie Xntfi .Ts.. Vio Notes t1).. Uliorty I.ilH-rty I.llicrty Liberty Liberty I.lbrrtv Huh m.iu ST. .'HI S7.."i( Ml.Stl IMI.14 S7.10 117. '.'4 1)7 'Jll m.oi h7.:t(l S7.24 MI.7U IMl.04 Ml.ll 1 !I7 'JL' H7 '-"J 08 0HIV 118 0S 18 , OSt, 08 H I U-1.1 I n ni in. in S7.H0 I H".."0 MI.S4 I lrO.10 S7.0I1 , D7. 'J I IIT.'-'I, Lindsay Light Passes Dividend ChlciiKo, Keh IK The I.lmls.iy LlKht Co h.is piixst'd the reKUlar quarterly illvldenil of !! kt oent on tho common stock, ilue at tula time The regular uuarterb 1 i Ier cent prefcrreil dlvl denil was ileclnreil, payahle Mnrch 31 to Htock of lecorrt IMiruary 28 Argentine Exchange Rates Improve Iluenoa Aire, Ve, 1(1. Exchange rates on the liounil nterltn hae been Kradualty Improvlntr for Heveral weekH. and today the Rngllsh pound was iiuoted at 47. which Is virtually at per with the peso, Released February 14 Government Regulations 45 Income and Profits Taxes Revised Throughout Subscribers for the Federal Income lux bcrvm and War Tnx Service published by this company have already received the complete official text ot these important regulations. The Corporation Trust Co. 1428 Land Title Building, Philadelphia "The Recovery of Businss and the Return of Normal Conditions" A inos.t important discussion affecting your future invest ments, in our Feb ruary Bulletin. 1 our copy will be mailed to you upon request for Booklet L-22. Ilollister. White & Co. I' iri. nt. North Ainericun Utiildiiip; .in. iiri.i.i'iii I'roililemr New YarL t'urtliiutl llnton -prlniltli lil 1'llli.llrlil ui m mmj" iiiiiiiiniiini $100 Denomination Bond Secured Gold Notes (Short and lonr. term mataritiei) if r.itl.!i,ii r "Otfitized lublc I'tilttv '"uniPHiiles t'neommon i:iniliift-H (overtnK a period of i.irh rri(iiieatnn,itile equities ni'l iiciilt tliuiouKlny nafj ir'iiirdmj ciip't.il InvrsUil J".0'i ,nd Jlndo Votrta of theso lbaueii ulbo aallablc. Price to yield 81 'z0 I i' mini ,1 W o i rttjut.il I Fairman & Company t Drexel Buililinu. Philn. 1 -t.ililKlml 100-J ft Fk I r s A. rt. liicKmore & to. c I ' nL?r?.dwJ!v' New Yorlr'-, " is i ii i nt ir ii "i' TTtV ii si tiTTf 5 V Lv . K5 4Ji,, ,.J, i
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