'n
'IV I inn-
' it ' V"vi;cn swws'-",ijt'' Vr"
- V " t!fT'i'qwvv " 'f , v -,
" Mr
t '"7-
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'. w''lej'"5(Ti3'i4T?.-nvii'n 'v -'ly'tif !3ps.7V , rtee"
4
s
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10
EVENING PUBLIC LEDGERPHILADELPHIA, THURSDAY, FEBRUARY 17, 1921
JBft'jK: Kit '
mm
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U.S'l'Y.. : 5St
8Mb W.
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KEJAIP: M
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.?:;:'.
MSI '
w
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Sir;
' nr t c I
1 y
ill '"HFtf
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n n a
afflHr .i
fu-ir
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m,:u
Mm 1p . !
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ii'ij, .. ... i.
Bl)t 1 'I
nv t
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ir :
1'fMt ' 1
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tUKiH (: '
UX r t P
TV -il i 'A I
i Pf I
f41BiMi"6 1
5 ft SOS' !
mm
m mm? ,
tmlw '
$ 1 It s
llB(,,rS-,J8?f
P iff
LiHi '
WuSBmM -
New York & Putnam R. R.
Flrat Mortgage 4
Due October 1, 1993
Price to yield about 5.30
Allegheny & Western R. R
First Registered 4s
Due October 1, 1998
Price to yield about 5.50
New York, Pennsylvania
& Ohio R. R.
Prior Lien 4&.
Due May 1, 1935
Price to yield about 6.60
Correspondence Solicited
List of Selected Bonds mailed
on request
STROUD & CO.
Members PMlaifelptila Stork l'Tchnct
1429 Walnut St., Philadelphia
52 Broadway, New York
Correspondents
STROUD, KURTZ & CO., Inc. j
Washington, D. C.
STROUD, MANNING & CO.,Inc.
Boston, Mass.
STOCKSARESTEADY
UNDER
1
MONEY
Rather Unusual
Wc offer an investment
that possesses the following
features:
1. Total fixer! charges
earned eight times over.
2. Joint obligation of six
companies.
3. Coupon rate Sr'r.
4. Can be bought to yield
9.70".
5. Has a strong Sinking
Fund.
G. Convertible into 8" Pre
ferred stock.
7. Readily Marketable.
irouM You TAkr 'o Hear Moris
About ft
Frederick Peirce
& Co.
nnvtm
on
MI1.NT
1421 CheMntil Stffrt. rhllntlfllitiU
Gnfe inventing is merely n mnltrr of
kniicino where to buy vour bnnrta
Disappointment Ovor Short
Duration of Easier Call
Rate
Xcw York, Poh. 17. With call
nimipj- Imrk riKniti nt 7 per rout ninl
foreign PxclinnK' ilorllnltiE. Mn innr
kct's opening, except In u fpw liitnni'p,
wns rrnmrkiilily sfpnily. 'Ihop Nmipm
whlrli riivp way lmmpllntrly wprp
chlpfly tlmp linvlnc a llmltod mnrki't
nnil whpri' prooppptR nrp rloudpil In tin
pprtnlnty. Ilowovor, thprp wns no tils
pountinc tlu fnpt thnt (lls-fippolntnirnt
wiis spvorp thnt the piihIiir nmnoy rntct
hud bppn of sph short ilurntion.
ll N pll ttnilcrvtooi that trip mnrltPt
i'ii mint piiKlbl begin any kind of tin
liimnril movement oh Ions ns money
rnntinitPs tn hover arouml 7 per cent.
Anil there is no ilenyinc the fact thnt
where, early In JunuRry, it -wined nl-
ino.t certnin that money would steadily
work lower, that n.iw It Is only a few
wliotp dejires nre propasatlnK the
tlioiight, who contend money rnte- can
be pvpected nnyuny soon, to perma
nently Kd below li per cent.
The active tradiiiK that uus notice
able in the tnhnciiis yesterday was re
Mimeil on n scale today. Uetnll Store
and Amprienn Stimnt ra were both up
inre than n point, the former relleetiiiK
rhi' best kind of buying. Amerlcnn To
biipco. ii hit later, fell into line nnd
moved up u point from its opeiiinc
"f j'J.'l.
i 'l'hp steels w-pre irreRular. I'nlted
Stales Steel held steady and Republic
Iron mnde n pood rciwmse to the ex
tremely favorable statement published
I this morning, advancing nearly two
! pnlnte On the other hand ltaldwin and
' liethleliem were off fractionally.
Central Leather issues were under
the se(.ret kind of pressure nnd the
preferred broke w hp open with n de
cline nt one time of six points. The
I'liinmon suffered n loss of more than
lone pmnt. The other leathers were
, weak .n sympathy.
Oils wire not .is miHi In demand as
heretofore and the coppers were very
dull.
LOCAL TRADE COVERS
LARGER PART OF LIST
NEW YORK STOCK EXCHANGE TRANSACTIONS
ion
300
Z0D
2300
sno
too
800
in n
noo
too
too
too
MJ
1 .500
200
ion
2 n
200
.110
1200
r.oo
2000
10
100
00
100
100
300
200
.no
100
200
.I'lO
4200
ion
:oio
I0U
SOII
30i)
100
100
200
20H
ton
100
100
100
ion
7100
too
200
2011
3310
m
2)U
I)IV
III I
Huh
. . Adams nxprcaa 30
Advniico Ilumely .... 10
Advance Ilumely pf... 81J4
4 AJax Ilubbcr 3.1H
.. AlnMta Gold Mines... 1H
.. Alaska Juneau O M... IS
: Allied Chem & Dyo . 47 li
.. Allied nhem & Dyo pf toii
4 Allls-Clmlmera 37 J(
Am Agrlo Chom 854
3 Am Unnlt Note . .... 10
3 Am Hank Note pf . . . . 4S&
s Am Ttrct Sugar 80 '
10 Am Bosch Magneto., 114 H
.. Am Can 30?,
12 Am Car & Kdy 124
.. Am T'rug Syn 7
0 Am KxprpHR 128J-4
. Am Hide & leather pf 48
4 Am Ic 4Vi
0 Am ico pf en
Am Internnt Corp.... 4S!4
3 Am Llnscpd S2i
1 Am-La Franco ICng.. 8?S
n Am tieomotho si4
. . Am M.alt 20J
.. Am Iladlntor 7IJ4
.. Am safety Razor S
,. Am Ship & Com lO'J
4 Am Smelt & Ref 44ft
3 Am Steel Foundries.. 30U
7 Am Sugnr Ucf 0.1
7 Am Sugar lUf Bf. ...102
10 Am Sumatra Tob.... 83i
Am Tel & Tel 100J4
12 Am Tobacco 123H
a Am Tobacco pf new.. 81 H
12 Am Tobacco n 120 W
7 Am Woolen s
7 Am Woolen pf OS
. . Am Zinc Lead A Smlt S
6 Am Zinc & tad pf . . 2SJ.'
.. Anaconda Copper .. f;
. . AitFctx Ueallzatton ... 3
0 Asso Dry Oooila 1st pf 01
0 Ateh Top & Snnta Va .2J'
. . Atlanta Blr & Atlantic o
. . Atlantlo Fruit 8'
10 Atl Gulf &WISS., OOJi
B Atl Oulf & W I S S Pf 43
7 Atl Kenning pf 106J4
.1 Auto Salea Corp pf . . . 14
7 Baldwin txicomotlve. .
.. Baltimore & Ohio....
4 Baltimore & Ohio pf . .
800 2.o Karnsdale Class B..
Wc arc interested in
Tennessee Power Co.
5s 1962
Portland Ry., Light & Power Co.
5s 1942
Huntingdon Dev. & Gas Co.
611936
.W.!arK$ge.
UAMUUU
Members Ji'cu- York and
Philadelphia itocfc Exchanges
321 Chestnut St., Philadelphia
United Gas Improvement and
Lehigh iSavigation the Favor
ites Reading Drops
The Empire District
Electric Co.
First Lien & General Mortgage
8'o Bonds
Due November 1st, 1949
HamlngR more than dn'iMe inter
est charges "'curo'l liy propertv
worth n ore tt in 5"" In ev tea of
Bonds
Jnter'f fr'e of r'0ral '.' In
come T.it and Tax refundable to
holders In Pcnn lviinla.
PRICE 100 and interest,
to yield 8.00o
PAUL & CO.
Memt"r I'hlln. iork i:elnnte
2I CHESTNUTSTREET
A Complete Digest
on the
Foreign Trade
Situation
u feitured m thr current iju of
The Kardos & Burke
Review
h ..
1tftfJ hv - n rs h -"1
OUT ''V X '
Kardos 8C Burke
STOCKS AND BONDS
1424 YTalnutSt., Philadelphia
Nw Yotk Pituburgh
Ouaeo nitumorc
Hittn Pnnu Vuu
Local Ptoeks were sfpady todnj In
trading thut was scattered widely
through, the list. Gains outnumbered
losses, although there was nothing par
ticularly startling in the way of price
changes.
I'nlted Gas Improvement, lifter its
splurge of late yesterdaj, failed to mak"
its appearance in the earl market, but
along in the M-cond hour email amounts
of the stock came out. nnd as the session
progressed, it became the center of ill -tcrest
The price ranged between .'hi
and .".V.,. nt which limitation it was un
i hanged in its trading position
Lehigh Navigation was unothcr fa
vorite, mid it. iiNu. was slow alxmt get
ting started Ttie first transaction was
as 70 and if later sold u point higher,
the figure being the high for the present
movement and n gain of l-i4 over last
night's close. Other stocks in the rail-
roan group were about steady. Lehigh
'nlle, on small transactions', was un
changed, and Pennsylvania mineil n
ismnll fraction Heading was the weak
I member, sacrificing almost n point on
sales aggregating less than lilHl shares.
Llectric Storage opened nt lO.'i and
l.ilmo.t immediately jumped to jot).
Trade in this issue was far from henvt.
l'liiliidelpliiH ltnpid Transit, the only
i member of the miction group out up to
'1 o clock, was m poor request and
dropper nn '-iclltll. '
There was quite an active market fori
the ncv Pennsylvania Itnilrnnil lis and I
the Itell Telephone 7s. The former, on
I en .ip-mng sale, was up i, (lt Plii... On I
iieuv) luuins; it niter ilroppe, i,, !i;i,,
I at which figure it was i below the Is
suing price. Hell Telephone "s were
also weak, the quotation ranging be
twe.n l' and Hili'V
Whethr th Keadlng's segregation
plan will pro-. e u ' melon" or a
, Imimui' f.i holders ..f die several i
ln-scs of its securities s jnnt now-
agu.ifing tliH titi.iricml oommunit und
tne crop of week-end market letter, is
iwaiteil with more than usual inteiest.
T'ie hanking and brokerage houses that j
- nd oil' these letters are working under
i f',11 head of stenm to present the plan '
in words of one sjllable nnd stripped of
s'i h erbutge n will make possible its
meaning by the man on the street. The
plan seems about us hii7 to the average
-tatisticmn us it is to the man who
holds the sci urity and it is expected
tlmt there will be some very w iile dif
fciitves ot opinion. In the meantime
the Mirious Heading Issues are getting
bill k ii near the levels obtaining before
Ho. drop lime nnd the bear drive Sm ins.
In have fi.iled.
The public is coming hack into the
i nrket The board rooms are no longer
leserteil nnd fumilinr faces llro M,(,n
. losely scanning the quotations or fol
owing the tape us it is reeled from the
Hiker. The new. dewlopments of the
.If A.....!.. .1 .1.. . . I . I . .
...-. ...,,,. i,. ,. u,s i,ns inspired a ' lanor
grnuier liegree or contnlerid , ..s n rc
trade ins picked up.
100
200
4804
100
too
100
1000
400
S800
400
1101
17800
1800
100
S3JU
2HI
100
31U
800
3)0
800
100
3(10
4 Oil
210
400
ion
I2sili)
200
8110
100
6200
210
too
3M0
100
700
too
800
too :
SnO
10l
:n
ion
10 10
100
too
too
800
100
400
100
MM
SOliI
310
400
133)4
100
ton
100
2C00
ion
200
10(1
.ion
10J
1010
210
100
100
200
310
ton
ton
101
100
coo
341,
SO'j
26
4
45
aW
Bethlehem Motors
8 Bethlehem Steel . . .
0 Bethlehem Steel B.
.. Brklyn Rapid Tranidt I34
. . Buttis Copper & Zinc. . 8)4
.. Caddo Central O & R l'j
6 California Packing ... HVt
2 Cat Zinc A Lead 0'
.. California Petroleum . 42-
7 rillfornlti Petrol pf . . 70
10 Canadian Paclflo . ... 11774
.. Central Leather 3D?4
7 Central Leather pf. . . SC
t Cerro do P.isco 2HJ4
10 Chandler Motora ... 744
4 ChcKipeako & Ohio .. 8l)j;
.. Chicago & Great West li
.. Chicago Mil & St P. . ."''.
.. Chlcngn Mil & St P pf 43',
D ChlcMgo Northw istern 68'4
.. Chi K I & Pac tiH
8 riil R I t Pac 6r. pf 02
3 "'hl st P Minn & O. . 60)4
.. Chile Copper ti'-s
. . Clilno Copper . . . 23
. . Coca-Cola 22?
0 Colum Gub & Blec .. 8014
t Col Graphuphone . .. ''
7 ( 'onsolldat'-d Cigar . . 82
7 Consolidated Gas .... JB&
3 Consolidated Textiles. JO5
. . Continental' Candy .. IU
4 Corn Products Ref . . . 72H
7 Com Products Ref pfl03
8 Crucible, Steel 06)4
7 Crucible Steel pf 8
.. Cuban Cane Sugar... 28'
7 Cuban Cane Sugar pf 67'
Cuban Amer Sugar. . S2',j
30 Iebeera Cona Mln Ltd 18
.. Penver & Rio Grande ITs
1 Domo Mines 13 H
20 Kastman Kodak 660
3 Klk ltom Coal pf. ... 40
5 Undlcott-Johnson . . . "
. Hrle 13'4
.. Hrle 1st pf i)4
.. Krie 2d pf 4
8 Famous Players L... 68)4
T Federal Mln . Smlt pf 26 J
.. Flik Rubber 14)i
.. I'Yeeport Texas . ... 16
.. Gaston Wms & Wig.. 2T4
.. General Asphalt .... 70 H
6 General C'gar 61)5
8 General Electric .. ..132
1 General Motors 14)4
fl Gen Motors deb C'r.. 66)
7 Gen Motors deb 71.. 78
.. Gllllland OH pf 1
0 Goodrich B F 30J,
7 Goodrich B F pf ..83
7 Great Northern pf.... 70?
. . Green rantme.i cop . . 23
Mai- t-bhaw 111 Cable.. 12H
. Hrcncstalc Mlninif . . 60
.. Houston OH 73H
1 Hupp Motor Car 13)j
.1 Hdraullc Steel !6'4
t Illinois 'nt 88 J
. . Inspiration Con cop. . 30
.. Interb Con Corp S''4
.. Interb Con Corp pf . . 14H
. Interna. Agrioulturo . 10T
7 tn tl Harvester new... 100
. Inter Mer Marino.... 18'
0 Inter Mer M.irlno pf. 88i
I
Commodity Markets
COTTON MARKET
New orli, Feb. 17. The cotton
market had a stend) opening today, with
pri'es ,", to .S points higher on Liver
pool and pot house demand, but Foon
turned easier under southern und Willi
.street selling. Liverpool also became
a s.ller latir and. by the end of the
first quarter of an hour, quotations
showed a net loss of half u dozen points.
Wall street men, now at Florida resort-,
were irediteil with furnishing
innn' of the selling orders.
The market at Liverpool was 8lightl
better than had been due at the hour
of the local -tart, but private cables
stated that there was fear of another
disturbance in tne com in -".
Hit,
Philadelphia Storks
I ffiH
rati
Free
Pcnna. Tax
Penna. R. R.Co.
6V2 Vo Secured Bonds
Due 193G
Information Upon Request
Balcer, Ayling & Young
JOSKI'JI W. HWA1.N, J... Jt.nsxtr
Land Title DIdg.
Boston Philadelphi
Id
10 V,
"7s
71
WHAT OUR TAX
SERVICE PROVIDES
Prprtlin nf lai rrlurnn hr staff
of former U. M. Income Tu llureau
iUuulnrrs,
Audit of prilou rrtarna to dUtoftr
errora of Interurelittlon. Adrlre rela
Sir to allnc rUlms for skatrmrul or
refund.
OERAUD TAX 8KIIVIC1: CO , INO.
Tural nnd Htste Tai t'onulla:il
Tlrphone Walnut 2836
j;ofVorth American llulldlni (
Hun
10 Alii lnsir Is
-II Am Sirs ,Vil,
l.'L Klic Stor 10ti
L'lKl J I .. J! T
pf.tfof ill)
! I 1 11 , A
lOtKi'iineent
Copper .
l.' Lake Sup
ri'i.'f Leh Nuv.
17Lch Vol .
L'U I'n II H.. I"',
in l'a Salt . 71
1 I'hilu Co
cum pf . .'13'..
17fi I'hilo Lie L"J
sit do firef. . I'M
13.-1 I'hilo I1T 17'
I'O I'lnln & W
pri-f ... 27
l.TOtHcadin.. 7U
72."i F G I. . :m
." do pref -I'lTf
11 War 1&.S A
Is
lo:.
Hi
2si,
IfH,
Ss
70
'I 'i
KM,
71
JO J
!)
17
t f.
IS .
o:;;-;
1M1 ,
nnd this, probably, was responsible tor
some of the Liverpool selling I'""'
Ileci'ipfs of cotton nt the ports for
the .lav 'are estimated nt Ili.OOO bal.'j.
against -MM'A bales a week ago. J4.i.0
Iml," 1. enr ago and WS81 balcB two
CtiKf
1
lt
US'
1
It U 1
lt.V- i,
l'i
veurs ago.
Mar. a .
Ma
July
ih lutr
IiremliT
Januar .
I"Tlnua
,n upcn
1.1 02
14 12
11 41
11 Sll
ir, 10
l.v 1.1
1,1 CiO
14 13
14 :.o
11. tin
1.1 17
1.1 20
1! 10
P m
1 3 il.'
II 13
14 4s
14 ss
si
7111
27
7"i
:.-,;i;
l!lT
fi'ld
10 I,
71
r::i 1 1.
-2;
2H
17
7fi 1
:i
Ill's,
Ms
Hi.,
4-' K
- 7(,
'N'l i-hantfo mail? b rimparlimn with Ust
Kble en .N'i. York situ, k MxchanK".
Haifa It ItOVIW
JlOfill HlKh Low
U Itell Tel 7s Hill HI'-'1),
2 Camb Steel
scrip lull) f.ii'i ll'JV,
S Llec k I'e,i
Tr Is ... .1! .-..IK.
1 1-5 Lib Hands
1 1.1
I. m
1112V
t!2i
Nt
"llfc
1
8 I
"I'.
2d l's... H7 00 87.0(1 K7.00 . HI '-sc, nt 711c
1st -lVs hi IS h7..1 S7 JH4- .
7 1-0 Sit -lVts . 181 21 fKI.22 !K).22 f-.Otl
V7.2S 87 H1S7 2H-f 1
GRAIN MARKET
Chicago. IVli. 17 There was sufii
cient dem.ind for wheat this morning
t Htrengthen the market, (.etiernlly,
dealings were slow, with commission
concerns on both sides of the account.
The trade felt so confident that Presi
dent Wilson would vi'to the Forilney
tariff bill, pn-sed by the Senate, that
enthusiasm among tliu bulls whs not
great There also was 11 disposition to
to take 11 le-s alarming view of the
green bug situation ill the Southwest,
on in count of colder weather
March opened nt .rl.il to Ll;s.
ami later sold at a net udv mice of ,
at ,1.72. May started lit .fl .li-'.. to
?! H2, and soon showed o net gain of
lY,at $1 Wi. , ' ,.
Corn was irregular and Blow There
wos some selling on expectations of
larger receipts.
Mm opened at 7Hc to ilc, against
7J 1 .," m the close jesterdav. July
was quoted fit 7.1c to WjC, at th-
outset, and later soiu " ""- "" "'
liOW
30
l'4
82 14
32 r,
IH
IH
41
80 1 4
3J H
88),
80
48Ji
80
83 H
.10 H
124'4
7
121S
48
44
89
47 W
31 n
8'i
70
2"M
7Hs
8
lfl2
4i!i
,1UI'4
3H
103
8'3
100J4
122
01 H
110
08
01
28 i
39;
3
61
IU',4
6
8 14
66
43
iooh
14
01
34
10)'
23 'i
4
88 M
8
ij;
Hi
ISV4
3)i
0A
1(1 ?i
73 'A
ttlVi
8 a
!t
78)5
73',
iU
iH
28
43)4
118
27
82
66)4
Ills
23
22 1-4
60)4
32
7!4
MH
1
12H
103
S)4
86
:&
67)4
32
18
l4
13H
600
40
t0''4
1.K2
30U
14
6.1
20 n
14Ti
16
34
68K
61 '4
131,
14 s
OCU
7S
II
39
S3
'UU
23
12
80
?3lj
1.1 14
Ifll
88 U
3B
!4
11H
iTe
100
is';
34 ;i
!4
'4
14
M
'4
1H
1
X
2H
!4
'4
14
"h
Vj
14
H
'
2'4
A
n
4
'4
14
'4
?4
!4
)4
Ji
U
1H
)
1H
1 .10 Net
Last V.hat,
36
18'4
6214
2)4 -
IH-1
1H-
47
0014
37J4
48M D4
80 J4
14 J4
30 - 1,4
124 '4 ..
7
128',4-r 3
48 - )4
47)4 1)4
60 4 1
48)4 4
6114-
8JJ4-
80 -
20M4
71 J4
8 lOtJ-
44(iA
S0'4-
01 H u
102 -83M4
loi'H y
I2.1H i
9IH4
i".'0'4 r
08
J f
l -
28!,-
311,-
3 A
61 4.
S7'4 T
0
8'
C6T1 1-
42 '-4 -10ft
! ti
ll 01 n
.14 '4
80',-
!4
4
MlH
391, -x-!
!4 4-13)4-D4H4-
6', r
42 -
7S)j-r
117)4-
8i-
81 Ts-28)4-74
-
80; 4-
sH
28 -13(4
-68
-27
62
00 v;
12!4-
23
22 'j -
60H-
tH
82 J4 i
20 H
Us .
J2H-
103 -
6Ji
88
23!, ,
47 k,
32)4 't
is -l'i
1SH -
000 -S-
40
CO 14 -13)4
20 'A -14
4
66 20?,
14 'i
10 -24
oy3-
61)4 4
13154 -
14',-
cai,
78
HI J-
s),-
83 -
70U
23 4
12K
30
73--1314
16)4
88 4
36 -3
"4
-
13 13
S3 f-
Halaa
10
200
2010
3100
200
100
10)0
100
ion
60i)
1309
100
0303
1100
Dlv
tn t
ltlKtl
34!4
16
68)4
21,
33)4
4U
,8
Intemat Slotorlruck
. International Nickel
. International Paper
. Invincible Oil Corp
. Iron Products .....
. Islnnd Oil
. Jewel Tea
. Jewel Tea pf 70)4
. Jones Pros Tea 24)4
. Kan City b'outhom.. . 20 'a
4 KellySprlngflold Tiro. 7)i
2 Kennecott Copper ... lH
. Keystone T ft R I6)i
0 Lackawanna Steel ... 6614
100 3.8(1 Lehigh Valley 82'A
400 12 IrUlard Tobacco ...ll
2 lMOT CO I IS
ion
100
100
700
14800
10(1
ft Mackay Cos
. . Marlln Rockwell . ,
8 May Pvpt Stores...
12 Mexican Petroleum
Miami Copper
1100 1.60 Mlddlo Statca Corp...
100 2 Mldvalo Steel ft Ord..
600 . . Minn & St Louis
20i) .. Mo Kaunas & Texan..
100 . . Mo Kansas ft Texas pf
20 .. Missouri Paclflo ....
300 . . Missouri Pacific pf . . .
100 3 Mintnna Power
100 . . Montgomery Ward . .
100 3.80 National Acmo
'4
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100
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3110,1
400
100
3800
10000
1400
600
1700
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300
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800
1300
200
40
200
16000
300
600
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4on
4800
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6000
100
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1000
200
200
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2000
200
300
400
3300
30A
2300
18700
100
100
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B13100
300
200
2400
100
3700
2300
600
Kill
20
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400
700
400
8600
1800
00
200
4700
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14300
100
2000
2400
3300
100
100
100
600
800
100
100
100
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100
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200
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100
100
100
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87
10 '
18
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I34
an,
12
2
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40
63
18
23;
3H
I4)4
National Con A Cabin
0 Nat Knam ft Stamp
7 National lAad nf . . 103
.. Nat n R Of Mex 2d pf 6'4
.. Nov Con Copper UK
N O Tex & Mex. ... 7)4
6 New Yorlt Central... 72)4
.. New York N II & II 20 W
7 Norfolk & Western... 160 )-i
6 North American . . 38
7 Northern Pacific . . rtTi
.. Paclllo Dcvol Corp .. 14)4
8 Paclflo Gas & Electric 7J4
.. Paclno Oil wl 33H
6 Pan-Amer Petrol .... 7H
0 Pan-Amer R 71;
3 Pennsylvania R R. .40)4
.. Pcnn Seaboard Steel. I2'A
.. Peoples Ohs Chicago. 38)4
0 Philadelphia Co ... 3i'
.. Plcrce-Arrow Motor .. 27 14
. , Pierce Oil 10;
6 Pitts Coal OOtj
.. Pittsburgh & W Va.. 2K
8 Pressed .Steel Car. . . . 3
8 Pullman 107)4
4 Pure Oil 34
.. R R Sec of 111 Cent. 4.1 14
1 Ray Con Copper.... 13;
4 Reading 70)5
2 Reading 1st pf 47'4
2 Reading 2d pf 47
.. Remington Tjpowrltcr 38)5
.. Replo Steel 32',
0 Republic Iron & Steel 8Jj
. . Republic Motortruck . 23)i
5 20 Royal Dutch N Y.... 6.1 )',
.. St Loul San Kraii... 21 To
.. St 1uIh San ltan pf 30'4
.. St Ix)UH Southwest . 26;
.. St IOUls Southwest pf 38',
.. Santa Cecelia Sugar. . S'
. . Saxon Motor 3
.. Seaboard Air Lire . . fl',4
8 &cars-!locbu.'J; ... 00
.. Sears-Roobuck pf . .lOIW
. . Seneca Cop Corp ... 18
72 Shell Transport 42',
.. Sinclair Oil 24 '
12 South J'orto Rico Sug 78M
0 Southern Paclllc 70
.. Southern Pacific rt.. I7J5
.. Southern Rail 22U
1 Stand Oil of N J p.'. . lt-i
7 Steel Tubrt pf 80
7 Studebaker 6o),
2 Superior Oil Corp... toft
.. Ten Cop ft Chem SH
3 Texas Co 44
.. Texas & Pacific 22)J
1 Texas ft Pacific C ft O 26)4
6 Tobacco Products ... 67
. . Transcontinental Oil . '4
0 Transuo & Wms Steel 40 J4
8 Union Rag & Paper. . 73
.. Union Oil 12
10 Union Paclllc 121 H
4 Union Pacific pf 66;
8 United Drug 9)$
8 United Fruit 108 U
.. Unlteil Rwy Invest. 12
.. United Rwy Invest pf 28
a unueu iteinu Miorc.. as:
.. U S C I P & Fdy...
8 U S C'II'4 Kdy pf
..US Food Products.
8 U S Ind Alcohol
8 U S Rubber
3 U S Steel
7 U S Steel pf
6 Utah Copper
Vanadium Coro
Va-Carollna Chem . . .
Vlvaudou Ino
Wabash
Wabash pf A
Weber & Hellbroner. .
Western Maryland . .
Wente-11 Pacific ....
Western Union Tel...
"Wcstlnghouse t; & M.
Wheeling & L L
White. Moior
IVlUte Oil Corp
?4
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vi;i
72
71H
83
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687i
37 K
38 H
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8
20;
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Wick Spcnc Steel Lorp 10
WlllysOverland
llson & Co
Wilson & Co pf .
AVoolworth P W
6 Worthlngton Pump
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' UwIkMi.
. 8)',
. 43!4
. 89
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FOREIGN EXCHANGE
Nor lorU, Pel) 17. Opeulng llgurel
for foreign exchanges showed violent do-1
cllnes ranging up to 60 points In Chi lb-1
tlanU and 30 points In Copenhagen. Ster
ling showed a Ions of 3 'i ccntu from yes
uiday'o final, rarls decllnfd 3)4 : lire.!
7, Swl.s.s, 4, guilders, 1J; pesetas, 8;i
Stockholm. ., llelglan, 11, und marks t.
Quotations were- 1
Ueinnnu Merlins .1.90 Vi, cables 3 91V;
Financial Briefs
The avcrago price of twenty active in.
dusirinl Mocks advanced ,L'4 per ient
to 77 11, jestcrday, whllo twenty rull
roads (falned .42 per cent at 7 1. OS.
The Republic Iron and Steel Co. has
Issued Us annual report for the vejr
j franc cables 7 36, checks 7 30 ; lire cables end'd December 31. bhowlnc net nrorits,
3.6S checks 167),. Swiss entiles 1B.63. 1 after depreciation . w, ,
1 checks 10 '10 tnillder cables 34 15, checks I " ,',",, V"" clmrRus "ntl federal
.11 10, pesetns c.bles 11.17, checks 14.15,1 iX''- "' J7,61s,5J2, equivalent, after de.
Stockholm rubles 1'2 .10. checks 22 40
Chrlsttanla cablis 17 40, checks 17.10,
Copenhagen cables 18. J'), checks ISlDj
Heliflan tables 7 t0, checks 7.68; mark:i
1.70
VKSTr.IlDAV 8 I'lN.VL QUOTATIONS
Ptrrllrur Kranca Llr UulMrrs
Dmnnl 8 HIS 7 4H 0 71 34 f.o
Cubl". 3D2s 7.80 ,1,73 3 1 So
TODAT'f UPKNINO QUOTATIONH
Stnrllnn Francs I.lrn Oullilen
remand .. . 3 D0V 7. S.I r,7V4 34 40
Cat.l?H . ai)l' 7 ni 8 ) 34 4.1
ductlon of preferred dividends, to lip r,j
J'inhil,nrn0nJ,i100 pnr vnluo) pfncd on tlio
jMO.000.000 outstanding common stock.
7 '", sornusii-t-f with net prollts of ,.
fti.' ' or '1,t3 a hare. on the $27,27.' .
00 common Mock outfltandInB In ltiiu.
. ,o., . .mci own and Albert IL
mhlff,rriH,'i10. '".""J?. cIcct"' l membership
In the Philadelphia Stock Hxchunge.
Transff r books of the Tonop.ih Mining
o of .Nevada will close Tebrunry 23-
hlTd March 1' tul' unnual "le,,tl''8- to bt
. Urilt.d States Steel common ntoci.
r,s,, .. t021 '"-0 ",'n "ol'iers iiumbnred approximately 99.000
rnli.1 177 2.V4.704 )R2,()97.tir.o to.1 17I.SSD on January :il, u is stated bv Jurlp
s: Vor ii.M til.',. 78 7.11.101 117.1 874.8H1.4;,H 'lary. Preferred stocl.lolderM.J i.R
Uo.to.i . 82TI3 491 ..0.... .174 47.4Hl.7o- same dnto numbered sVOO.KxcTudlnff
BANK CLEARINGS
riark rli-Hrlri,-s todRV compared with
i" i,w u.i. tn ji i.o iirB
MONEY-LENDING RATES
MIW YDIIK Money on call, both
cinsses of collat.ral, opened today a. 7
ner cent for lending and renowlng.
-Call, 6 per cnt
commercial paper.
... , T
I'". -ttll 4'iH
20la l'Tinn C.
0M8 ..
0 2-J1 I'hlln Rlec
4-ttt Os..,.
on3
65
-
1M
nn u.-pr'n sbout steady in the rnrly
trading. Local operators had the mar
ket t. themselves
May started tit -10V to 4(HHc and later
sold lit 4Vc. and u net gain of c.
Julv Htnrteil nt Klr to -IOVjc on.l I latjr
sold nt yestcrdny'tj Inst price oi -lO'siJ.
I'llll.AIIKLI'llIA
time, 6 tier cent :
three to six months. 6 ner cent.
i Note--Thesc are merely nominal quo.
lanoiis, as mo legal rat
the state of Pcnnsylvan
per ient. i'Iuh nremlum
tlm money for thirty to
loaned at 8 to S'A ner cent, while com
niercl.il paper, from three to six months,
Ih being offered nt 8 to S'i per tent )
sJni'eT'', r-t" ' S0.S00. United
Mi es Stetl has a totn of 160.300 stock,
holders The number of employes own
Ing stock uutrIKht Is 66,000
r.nri'J'V'1 V,rdu '-tension Mining re
ports lor year ended tr.cemi.n V. .,?.
tl. 1. . --" w...i.u i,i;i;cillUiT Jl, Jii.
,' '' ,,ft7 ,k:c Hnd all charBcs J8l!i.
.'" against dt licit of $235,160 li, 1 1 .
viy uoniinui quo- ' i, f -,..,. ,
t of Iw'.erest p. . 'hV snnBHoi'a,S1w''rn"1 aH Ilrcsldent
ila is tlxed at 6 Davles his i ". r"rl'ortlon II. (;.
nnd commlswlon. , , 1 ', ,,'"n e,ected v'co president
o ninety duys ii ' lU h' n"m 'na"aer.
HlRh Iv. (. in'
III. 1(1 01.11 01. Ill
Mll.Sfl MI.H0 Ml.MI
N7.4S S7.42 S7.4H
H7.IH) Ml.!) I Slim
110.20 110.11 llO.lt!
S7.'-'ll S7.1I K7 II
1)7. lis H7 I'll (17 '.'tl
07.20 07.20 07.20
Today's Range In Liberty Bond8
ii is
Libert) .".Vs . . .
Liberty 2d Is ..
Libert j 1st 4l,4N
Liberty 2d -I'Js
Liberty .'Id 4,s
Liberty 1th 4Vih
Vie Notes iy,s. .
Vic Notes .'lH. .
Bank of England Statement
Uiwlnn. Feb. 17 The weekly state
m.nt of the Hank of Knglnnd shows the
following changes Total reserve n
creased 1 202,000; circulation decrenwd
fl 180,000, bullion Increased f!29lij
other securities Increased 8.613,000;
other deposits Increased 7,710,000; pub.
lie deposits decreased 4,614,000; notes
reserve Increnhed 1,182,000; uovernment
securities decreased 6,690,000, The
proportion of the bank's reserve to lia
bility Is 14 62; last week It waB 14.02
per cent, Rato of discount, 7 pr ttnt.
NEW YORK COFFEE MARKET
New York, Feb. 17,-The market for
oflce futures opened fnim j;( , 7
points lower this morning response
to the poor Brazilian cables. The lower
markets m Itruzil are taken by some to
iiulicnte that the Hriizllinn lonn is fur
from being consummated.
I he feature of the ,.ry trading was
n -w tih of March to Mnj nt 18 points,
he transaction involving over 10 0(81
bugs. After the opening call selling
in cssure seemed to have run ts eoprse
for the time lining, nnd there were suf
ficient outside orders, together with
scattered trade demand, to advance
prices -1 to II points at the end of the
first hour.
March . . .
May
July .. .
rioinemtwr
I.ctnit)er
Vest rln nn
. (I. Oft WHO
7.IHCM2
. 7 A.lai.ljl
7.ll2n4
8,27'.'!l
Ortn
n nnyr.i
n 117 tfi as
7 Bllfl li)
7 711 7H
8 10W 12
BAR 8ILVER
tod" SW " hl?hT " naon
Nctv York Bonds
Amu Smfltr
ttat'e 6s
1 7
1 77H,
10 7784
1 7784.
Am Bus- ItC fil
1 43W
A TATcv I '4
10 .... 82
8. . . 82
Am T & T tin
1...
6 ..
1....
1...,
1....
Am T
1 ..
10 . .
81W
81W
81 V,
( 8AI.CS IN nnooj
citr rarls as
2 OSVi
7 03H
3 08
3 U5H
C Zurich rets
2 00
Cl'd Cln CM &
StL cm 4V4"
1 . . . . (10
Cl'd Cln Chi A
Ut Lo 09
1 eny,
CIM Cln cm
8t Li Carlo
1)1
RHi 2 ...
81 S Clveland
T fl Mar 4Hs
0IW
04 H
04 H
04 'A
N Y Cntl 3)4s
8 67K
N Y Cont'l Us
80 i
so ;
80S
80 i
80 4
N Y C 7s rets
1.... 101
Now Yk Dk 4 s
1 (10
N Y TIe'n 0
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osy 1. . . sa , (19.4
051, Col" t Ho n 4 Nwr Y W O
1 00 lloat 4Ua
Colo imU' 40.
2 1H,Wfk x. w'n Is
1 . . 7.H4
2 73H
rons'd Has 7
00
Armour 4)4s
,1 804
1 79
Alch Topeka t
S'a Fe aj
1 7t
1 704
1 704
1 70'i
Atcti ToDeUa &
H'a Fo 4 ICubnn
10 78 I 8
1 77V 2
1 78 3
78 I 2
n 77 ; Cuba ltullroadj
Atch Totifka . Co Ss
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8..
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no
09 li
118.
8 cv
814
844
814
84 4
1 704
Nfk A W d 4s
I 8 45'i
iNfk L IV cv fls
2.... 1014
10.. m. 1034
North Western
I Hell Tel 7s
1 10 004
3 004
H F cv 4s ' 1.
1.. .. 074 11
A Coast I. 4s I 1
1.
1.
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4
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Hud 7s
78 Del
.... 784' 1
78 Denmark Con 1
Line 4 4o' ct II Bs
1..
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3..
1..
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Oil
06H
08,
00 4
00S
ons
904
103 s, N. i.,cino 3ll
Atl Coast I. 7s1
2.... 1024
1.... 1024,
Atluntlu Itet'icl
ct 04s
18
1
6
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1.
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B4 4
N'n I'acltle 4s
704
A It U 4fl
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ims
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004 1....
Dalt i Ohio cv'Do Can
4 . . 0941 8. .. H04
3 0 ', I 5... . 004
D .. . 00 , 20 110 4
1 .... I)9!'D Cnnada '2(1
1 70 I 1 02
10. 004 1 1 V1 1;
II ft Ohio 34 Do Canada '211,
1 82 1 014
1 824 4 014
I .. .. 82i 2 014
1 824 Do Canada '31
7. . 82 41 2... . 00
Unit & Ohio 4s I . . . . 01)4
1 . 68 2 00
Unit A Ohio GslDnm Itep'c Rs
3 00 1 78 ,
2 00 'Krlo Gent I.len
08
. U8
. 08
. 1)84
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. 08
n i m
''"""lOrss-on 8
'" n
1
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034 m
1....
a . . . .
3....
1....
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1
Pao U 4.
. 704
. 704
. 704
. 704
Cal 8
, 88 4
L 4a
704
704
I. lis
08
1: 8s
D & ( 1 I. C
A W Va is
30 on
1 ..00
10 (10
rtAit Ohio s
West'n
n
llell T
1...
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7s rets
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ft T fin
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1... . 38
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1 81
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1 80
4 80
Pa fl 44 '21
1 09
return II 11 5s
C 884
1 884
1 88"s.
vs. nn 04" wi
3 004
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1.... 004
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2 00 4
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renna 11 11 7a
2 ... 101
1.... 103
8.... 10.1
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89 4
I'ero Marqt 8s
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Pitt Cln OM ft
fit L, a Bs
10.. .. 83
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1 82
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2.. . 43 1 08 ,
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Hush IlldR 8s I 1 .. 1024
1 70 Od Trunk ruts
l-snaaian r.n, l"iK)'t. 1, h Fran
Illys rets 8 ... 101 4 1 g,rits II
1.... 1014, 3.... 1014, n -3
I .. 1014 8 ... lOlJiJst lV&.w'n en
Centl ot Or Ha Hud ft Man Mi , n.u
1 834. 1 l!44 st I. So.r'n 1st
1 07
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iu 0111 Q rcn, nr.. a
l2W an 014
in (114
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2 . .. 004 ' k 1
Ctl l'aclnc lstHuil ft Mnn In
1.. .. 724 10 31
8 724
Ch'k ft O 449
1 .... 70
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C ft O cv 44s
1 ..
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Ohio ,1s JO . . . 204
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3..
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C ft Alton 84s
3 37 4
C 11 ft y II .14
1 . . 72
ft
(124
024
1. aj
31
t, fd
on 4
30
I. 0
48
18
48
Chi II
1.
1. .
Q 4s
07 4
H7 4
07 4
07 4
07 4
Seab'd
o
R .".4 4 n
10.. .. B4Ni 8
1 "'' So'n Italic fd
1 .... 844i in ?n4
1 34 4 ..... .. 70.,,
1 8-14 ;rt -li
10 r. I 2 . -e4
1 8ViSo'n I'aclne ts
(1 . . . . 8 4 1 o
B .S'n'i'uc cv4s
1 34 4 1. ... T74
1 314 9t. -Hv,
1 B4,lSo'n I'scir.c- .li
'8 54 ' 1 01
I Xt Marlnr Osl j . . 9j
4 804iKn i'ai- Tirm'l
Ul'4 jap novo I IHi t -av
Chi ft O W 4s 1 824 s'n'iuuVs 4s
1 . .. 514 3 824 1 fl)
Chlrao Mil ftl '.'. . . 824 3" r,HT,
8t 1" 4a ' 2.... 824 q-n lVa'll'w'. s.
ChlcnKo nurl'n
ft Q re 4H
(IB
ChtisKD Mil
Ht I' d 4s
1
1
014 Jap Gov't 2nd
824
. .. 824
824
824
.. . 824
don't 4
. . 03
8
10.
1
C ft
Kin
Mflnp 4s
1
8 . .
Kan
1.
1 .
0.
1
1..
1
1.
034
. 1)3 4
. 034
. 0341
834.
. (I34i
Ft H ft
i.nij 2
WI4 2
2 ill 4 ;Jap
1 (U4 2
Chlcano Mil ft 2
M 1' Is '2.1
1 iil'i
2 . 704
Chicago Mil A
MP c 14s
1 . . . . .1!)
8 i4
8 .. . (.U4
I 111'
1 . (I'J
Chlravo Mil ft
HIP til 44
10 (,04
ChlcnKo Mil ft
Sll' Kin 14s
1... . 77 4
2 ... 77 4
Chicago Mil ft Kan
Ht I" W AMI a
1 .. . 084 2
2 8V 2
c ft Nwn :i4il llelir'in 74s
1.. , IHI4, I . . 0.14
1., Oil 4 1 It IlclK'm rclf
034
HO I
S .V
.114
34 4
8 1 4
84 4
04 4
84 4
84 4
H Si.
71
7t
1
I... . 8.14
1 . . 8.', 4
StaniVd Oil of
Calf rets
2.. . 10t4
C Ml 4
2.. . 1014
Tidewater Oil
Co 04a wl
1 . H84
8. . 08 4
10 nsi,
13 . . 0S4
3 .. 0S4
I'nlon P.ic ev
2... . 8IHI
2. .. S.I",
L'nlon l'ac fts
3 1 no
U It of CI nrlt
A I'd 1021
8 00 4
30 . . 00 4
.1... , OI14
8. . 00 4
U It of (I llrlt
ft I'd 102
Chlcano ft Nth'
Wn II4 Ml J
3
ChlcnKu
W.it'n
9 . .
1. . .
8
II
C.il Itallw'x as!
1 . . 034
ChlfMico II ll'd
ft l'ac fd
111',
no 4
09 4
ft Nth
7s
101
Ml
1014
H3
1
8
1
4
1.. .
4
1. .
Klnsdnm
08 4
II Ti '
4
4..
1 .
1 .
0
8 .
044
04 4
04 4
01
014
014
04 4
014
mark ct 8a
08 4 U It of (J nnt
U841 i. fd 1020
084' 1 . . 884
084 11 . . s4
"8V 1 . 884
OSS U It ot CI llrlt
08 4 t, pd 10.17
Di'i'-I 1.. .sn
1
3
1 .07 4
1.. . (174'
rlilcHt-o n H'd1
ft l'ac 4s
1 ... 714
1
t
10
3
.17 4 .Klnc-dom
084
08 4
08 4
084
Nor
1 20 SO
10 sd
, 1 bfl
l' H Xliilc.. is
10 . . S.
1... 48
iiTii way el 8s ivt'd It'da t,n
1 004 I Fran eqri 41
'.. . HM) I 10 , . as
a. .. UH4 10 .144 1
' 100 10 3.1 !
I 100 U S Ilfaltv ft
HEAVY LIQUIDATION
OF STOCKS ON CURB
Sovore Losses in Sovoral Issuos
in Industrial and Com
mercial Groups
New York, Teh. 17. A feature of
the trading on the Ilrood Street Curb
market today wus lirnvy, liquidation 111
a number of Industrial nnd commercial
Issuph causing severe losses In these
stocks. Hcporta about Hudson Navi
gation, which have been In circulation
for oinc time, and other developments
in regard to the affairs of the United
States Ship Corporation brought In
heavy selling of thnt stock, which de
clined from 1 to the new low of .
There was heavy elllng also of car
light, which dropped from 2 to i.
tloodyenr Tire issues were influenced
by statements In regard to details of
the financing plan, the common stoek
ranging from lfc to l.'l and the prpferrpil
from 115 to 83. Heading rights were
fairly active, first advancing to 1074
and tlicn declining to 14.
There was large trading In Sweets
nt 2V4 to 2. I'nlted Ilettll Candy,
however, was neglected, a small amount
selling ot HYi.
Ditnant Motors was a strong feature.
advancing to iii'j, n new iiign record
There was continued buying of I.chlgh
t'oul and Navigation, which ranged
from 00 to
Petroleums were unusually nulet. the
feature being Marncalbo which, after
selling lit 2.'1:H, reacted to 2U. Ilyun
Oil was truded in nt H to 8Mi. Carlb
Syndicate sol dat 7 to H-d.
Mining stocks continued active and
strong.
l.VUUDIAIiVUI
Car Muht
IJurnnt Motors
Ooodyear Tins
uootijpnr Tire ppor . .
Inter Hublir
IntT Tradu Mark ...
I.'hlgh Val C ft N ..
Perfection Tire
Hftdln Com
Itsdlo Com pref
Ilput!le Tiro Hub ...
8fet Co
I' S Shin Corp
If 8 .Hleam
t'nllsd Itt Candy . . .
Iteadliut rlshta w I.. .
Hllh
24
.. 104
.. 18
.. 8.1
.. 124
.. 034
.. 72
.. IH
.. 1
.. I'i
.. 84
.. 184
Low
2
194
13
S3
12
(184
(19
24
J
STANDAIin OII-H
Aiiclo-Amer Oil 184 184
Ohio oil "sn 2N.1
8innil Oil of Ind new . . (V4 (l
Stund Oil of N Y 382 351
1:30
P. tn.
194
18
33
12
014
72
2A
2.
184
184
280
BOH
382
INDKI'llNlUlNT 0114
lllerl Oil
Poorw Oil
Potion Wjouilnir
Carlb 8ynd
tines ncrvice "JI" ctfs..
Cltlfs Service pref old ..
Denny Oil
Klk ilasln lt
llmtlni-prp Petrol
Federal Oil
(Ilonrocli Oil
uunev Ulllesplo
Hudson Oil
Int l'elrol
Mnraealbo Oil
Marlaud Dtt
Mexico Oil
.viotintuln Products
North Amer Oil
Omar Oil
i-rouucer & Itellners . . . .
rted Itoik Oil
Hyan Cona
Salt Creek now
Slmrus I'st
hkelly Oil
t.'n Texas OH , . . .
Victoria OH now
i JU
14
70
8
1
.21
104
234
Si4
it
1
84
2
.4
74
1A
13
,4
74
20
70
';
1
14
13
14
1
g
20
70
'
8
1
i
4
8
fill
11
17
44
70
IH
10
i;
n
.,
88
44
'14
4
10
II
18
111
M
.14
84
.1(1
4
tu
II
IS
111
84
fc4 8 8A
.11INING
Alaska Ilr Columbia
Atlanta
ills l;diro
llooth
llosmn ft Montana
.'itk'donla Mining
'alumet ft Jeroms
C'andclarla Mlnlnir
Cons Vlritlnla
Cortez Sliver
Crosson Gold
t'rescert MacNamara
111 Salvador
I'mma Silver
I.'ureka Holly
Hold Cons
Cold Devel
Goldhetd Florence
ilold KewauaB
Hold Silver Pick
Gold Zone
Great Jlend
llecla Mlnlnir
Honduras Synd
Iron Hlospom
Jutnbo Hxtenston
Knnx llvldi
MacNamara
Marsh Mining
Mother I,de
VInther 1ele new
NtplsiInK
(iphlr Sliver
Prince Con
Ilex Coni
Ilnchesier Mies
San To
Sliver (tlnii IMvldo
So Am P ft G
Suri eiK Mlnlnir
Tonop,ih Ilelmont
Tonopuh Cash Hoy
Tonnpah Divide
Tunopah Kxtcnslou
Tonopah-JIm Puller
Tunopah Midway
Tonnpah Mlnlnv
Tonnpah Mizpah
Tonnpah Montana
rilMlpdh IltM'U Hula ...
L' ,S Cunt . . . .
I'nlted llasfrn .
White Cnpi
Wlllrt . . .
IM1ND8
A.llcd Pai-kLrH Cs
Amer .VKrl Chm 7 4....
Amr Tel (,s. 1022
An.icnnila Cop 7s, 1929..
Armour ('o 7s
lle'h Stoel 7k. 11)31 ....
Orrn t" I'asm Ss. . .
f'optsr ICxisirl 8s, 1928
nun vlns 8a .
Cons Textile 7s
I) iiinond Mutch 7Vjs
iiondrlih Tire 7s
(Ir.md Irunk G'tt . . .
lleliu Co 7a
Gulf (ll 7
Iniirb Hap Tr 7
S'allniiHl Iiiilwr 8s
8ea.r lloliuck 7a, 1921
,s nrlulr 74 s ...
Hnlvuy Sm
S (1 nf N V 7
S O ot N V 7i
S O of N 1 7
Swift Co 7s .
Ti xun 7s 004 004
Va-Carn "hem 74 m ti.1 014
Westirn Klfdrlc 7s . . (is v. nm;
('lill.' s, 074 074
rritnkfnrt Is . . IS IS
16 184
2.1 23
21 21
14 IH
ft
41. ,4
84 84
04 ov,
74 74
74 74
tV
l" iH
0 (I"
0.1 (10
11 11
17 17
JS 44
07 70
IA IH
10 HI
S 4
3 3
l'i 11
.lit
64
10
11
lO'O
10J0.
1
3
14
14
17"
1.1
il
n
20
V?
.,74
. 074
. IM14
11.14
. 117
. 0.14
.10.1
. 084
. 00 4
. 08
.1(111.
. 904
it. 14
. 974
. 074
. 6s4
. Oil
l'S4
02
1IHI4
. iiii
.1
ii
,,
W
It'i
10
II
20
84
14
14
,7
t.1
.'''
lo
It
20
84
Wc Itcrommcnd
General Asphalt
Convertible 8 Sinking Fund
Bonds, Due Dec. 1930
Convertible After Jan, 1923
Into Common Stock at Iar '
Sinking Fund Ketlrcs $50,000
Hcmi-Annunlly
Pricie 101 and Interest
Moore; Leonard
& Lynch
CUSHMAN NnWHAI.T., Mgr.
llond Department
1429 Walnut Street
Hoard .Room
Ititz-Cnrlton Hotel
Afembers '
Now Tork Philadelphia & rii.,.
burgh Stock Uxcluingc.,
Servlc and Stability
Ample
Facilities
to meet our depositors
need's in a banking way,
are among the many
advantages we have to
offer our clients.
We particularly solicit
commercial accounts.
Integrity
Trust Company
Fourth and Green Street
Capital $300,000
Surplus A Profit. . . .$1,770,000
Spruce 8200
A Nation-Wide
Market
for
Liberty Bonds
Victory Notes
and
Treasury Certificates
SECURITIES DEPARTMtNT
Commercial Trust
Company
Merabtr Fadmt fUwrre SnUm
City Hall Square Wet
r.n
97
11114
11.14
9114
M4
1044
11 8 4
004
117
1014
1)04
r,4
07
H 4
.174
mi
ns4
oi4
1004
mi
ojo. . 11114 1014
U.11 . M'."i 1024
0114 OiH,
r.ii
117
m.4
11:14
117
us 4
MI4
11 si,
0H4
117
M14
1104
0.14
074
on 4
684
on
Is-S
014
11104
Ml
M14
1024
064
094
ni4
08 4
1174
IS
Helping
Investors
to bclcct Guititble sccuritc9 Is
the primary duty a reliable
investment banVor. Obviously
such a service enn be rendered
to the best ndvantngo by
bankers who own and offer a
diversified list of
Government, municipal,
Railroad, Public Utility
and Industrial
bonds and notes and a selected
list of preferred stocks
Write for our Investment
Suggestions No. L-10
A. B. Leach & Co., Inc.
Investment Securities
115 South Fourth St.
Bell Telephone, Lombard i'57
Brazilian Trac, Lt. & Vr. 6s, 1922
Central 'r. & Lt. 7s, 1921
Grand Trunk Pacific Rwy. 3s, 1962
Webster Coal & Coke !is, 1912
Coiih. Textile 7h. 192.'!
UuiHvtlie GaH & Klec. 8s, 1923
St. Louis Transit 5s. 1924
Motion. Coul Ss, 1936
Morton Lachenbruch&Co.
42 nitOAU hT.. N. V.
I'hlln. Trlsohon.. Walnut WB'-nire MM
Prlvulr Wires to New Ynrli l WCJI'.
HI. Iula I'ltlsl.urifh. Detroit. CleveUna.
ilniinl naplds.
Cambria Steel Reduces Dividend
('nnibru Htoid dlrectora toduv do
clnrpd a ipmrtorly dhldcnd of I per cent
(fifty cents n sharp), pnyatdn Murch 13
to Mock of i.iMird Iptbnuiry 28 It.
cently the company baa been paying IV.
por cent regular and one-hnl' of 1 per
cent extra, or tl a iihnro quarterly. The
reduction Is In line with the dividend of
the Mldvnle Steel and (rdiuinoe I'n ,
hlch owns the fnmbrlu Steel Co.
1
ChlcAKO I'nlonil.iki- Shore Sll Impvt 3a
4.
824 n
v n
1.
Hta 44s S Is '31
.1.. . R04, 8
Chic" .HO t lilnll1 1 S2j
Hta tt 04s Iirlllftnl (' Tr
S Ml 2 .. M14
Chi & IV 1 4n lxiu L Nanh 4
1 . . ''.(I 2 8S
Chile t'op'r m'.Msnhat l.'il 4'
8 7341 1 . . S44U H
Clill" Cop'r 7MM S ft O 8i (
1 ... 0I41 1 7114, 3'
Chines Ovt Bn Mln Ht P & Hi l
1
. . HI'.
S44
ItUbb'r Sn
. ... 711
. ... 70
... 70
. . 7H
. 711
Hull 7 4h
. . MO
. Mil
on
- - (
i llii "iir 1
I 1I ' 1
2 414, H( M 4s I i . ., j,a
IT... .114' 1 KO'ilU il H MlcI ,ih
2. . I14,.M0 I'aclflr 4 1. (.;,
( liy llrni Sn B4 1. . . ni
HI 2 ... M4 li. . I..,
2.. .on i.i . 1141.1,1 , r,
1 .... 04V, .1 .. . RI4 Utah I' b I. ,-,s
Ctv Chrls'ii ss 1,1 (114 1 .. 704
2 044O1 4 I) Ht I. i.Viv Irn I'tml
Cltr Cou'r H4 I f'srlo 4s Colio 1kI
1... . 7R41 4 ... 714l 3 SI
Cliy I.jonu (is .Umit'it l'w iVn lialiw's sn
TS 1. . . HI.,1 , . . M,
1 . 7rt 'New ur Ten w 1 I, Mfk- 7n
I .... 78 Mi xli o ,1i 1 mi 1
City Miirs'B fia . , r,ii l nS4
8. .78 M (114 .1 lis
C N Vk U 'H7 2 . 1114 2. .. 084
83Vi 1., (114 3 .. . n&4
CHYk4VB 1... M4, 1 ' wl,
i El'j 1 054 1 HS4
TO Y1ELX 7.40
A 12-yr. Bond
Pennn. State Tax Refunded
Free of Normal Tax to 2
This einnpunv hm h pruariy W
Wluu of J'.'I.I.S.VO 1117 a il previa. l
lion rnirrve nf III'.' 7i',7 '.is'.' i
surplus of finiMll l.n.1.1 ll.. loiti
fumtiil ileht Ih only tll,Hl.,0V0.
BATTLES & CO.
Katablished 1S9
Independence Hnunre (llnal)
RWWmT?T?0IIK
Conservative
Investments
Vleldlnc
6 to8
MaoMcekin & Williamson
IIKO,l AMI HANHOM UTS.
Northeast Ornrr
Members I'hlla. Htock lUrhawe
Copper Export Ass'n
8 Notes
HARRISON & CO.
IIANHKRH ,. .
1D6S0UTH FOURTH ST., PHILA.
f.- 'irf. nnd
... VcP'.uc.r?'iy",' f-rnhanati
'AllO'lII"tl &'" '" ,
Kallman & Rosen
PUBLIC ACCOUNTANTS
.nd AUU1T0R5
i -,. T SDeeioliitt.,
IllbUliiw
Sin Heal EiUH 1 rtt matj
iJ&
Ii
'jh
. ) 4i$ WivAlt'