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EVENING PUBLIC LEDGEIt-frHILADELPHlA, FRIDAY, FEBRUARY . 25, . 1021
SMS? t. '-U,
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Equip
.;
wxiAn y
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We Own and Offer
llie Following
ment Issues
(Vnrlrtia M.turltlf.)
Atltntic Ceeit Live Rt. SVt
LooUrille & Nerirille R. R. V,
Ckeisptak & OWo Ry. t'j
Grand Trunk Rt. of Canada Vi
Wsitern Martlano1 R7. 7
llllaoli Ceetral R. R. 7
New Tork Central R. R. 1
PitlRc Fro!! Eipren 7
SoutKtrn Pacific Co. 1
Prteei to Yield From 6J0'vc
to 7.00r'c
Company
rkfledelsWo 1431 Clmtuut 3t
Atlantic City OeJfonte Block
lS Beerdwelh
RANGE IN STOCKS
SLIGHTLY HIGHER
Industrial Specialties Givo Life
to Markot Stoels
Nervous
ft
Safe
Profitable
Knveslm'enls
TRcdrmmdcttL
J Combination c
.frailer a ft. out! IRctfnirad i Ca
Bread 6 Sums 5t
Philadelphia
wPmcSt
Sew York,
Baltimore Pittikorik Wtiluagtoa
Exceptional
Opportunities
For Investment in
Underlying Seeuritiea o!
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 yearn.
Conditions brought about
by the period of industrial
readjustment in progress
at the present time will
lesd to much higher prices
for investment securities.
We advise the purchase of
high-grade securities for
investment at this time.
Henry L. Doherty
& Company
604 Morris Building
Philadelphia, Pa.
Telephone i Ixwait 144
New 1'ork, Feb. 23, -A thread of ir
regularity ran through the stock mar
ket opening. Declines, on the whole,
predominated but there waB rcarccly a
group In which advances were not being
made at the same time es losses. At
the clone of the first hour, prices were
slightly higher thsn yesterday's close.
Again it was the Industrial specialties
that gave such life to trading ns It had.
Atlantic Qulf once more became hys
terical and, after dropping more than
It points, almost immediately re
covered and got back to 47. Kelly
Springfield was ulmost as erratic. This
t.tock, directly Influenced by the an
nouncement of the dissolution of the
underwriting syndicate, yielded 2
points, to 37, and then snapped back to
30 Yit or above 1U close of yesterday.
The other rubbers held fairly well,
though moat of them were fractionally
lower.
The only outside development over
night was that foreign exchange was
up c lightly and gave Indications of re
covering from Its recent weakness. To
day, all foreign exchange leads to Lon
don and the coming conference on the
German reparntlou problem the domi
nating influence in this market.
The publication of statistics by the
Department of Commerce showing that
the country's Imports and exports had
decreased In January served to empha-
die the unfortunate fact that we arc
allowing our foreign trade to drift at
' a time when we need it to strengthen
our internal conditions, possibly more
thsn ever before. Iu the cotton mar
) ket, where all months touched new
I lows thiB raornlDg, the wriotisncss of
this condition wss strikingly reflected,
i The steels were nervous, but the sell
' ini that was marked In them yesterday
afternoon was missing. United States
8teel was off fractionally, but the in
dependents, with the exception of Cru
cible, were steady.
The report thst a meeting of the sales
msnagcrs of the United States Steel
Corporation was to be held tomorrow
for the purpose of considering prices
might have been responsible for the
stock sagging. The report was later
denied.
RAILROAD SHARES
LEAD LOCAL TRADE
NEW YORK STOCK EXCHANGE TRANSACTIONS
nim
a
i
t
nitn
4 Ajajt rtubbsr
.. Alaska Gold Mints,.. tVX
7 Allied Cnem & Dye.. 44 1
4 Altls-Chalmsrs UK
Am Agrlo Chen, 44ft
a Am Agrlo Ctiera pf. .. 74 M
a Am Det Sugar 41
.. Am Can ..,.. )
7 Am Can pf gift
18 Am Car A Kay Jn
Am Car A FMy pf . . . . 11
.. An Cotton Oil t
Am Cotton Oil pf
.. Am Drug- 8yn H
4 Am Ice ............. ft
.. Am Tntentat Corp... 41
1 Am-L Franc Bnf... 854
a Am Linseed
Am Locomotive- ..... SSli
.. Am Malt B
.. Am Safety Ilajror. ... 7K
Am Bhlp A com 1
Am Smelt lUf 41 W
Am Bmelt Bee A UU
7 Am Sugar lUf tiH
7 Am Sugar lUf pf....lll
M Am Sumatra Tob MM
Am Tel A Tel itOH
It Am Tobacco ti
" Am Tobacco B II)
7 Am Woolen 48 yi
. Am Writing- Paper pf 3
Am Zlno Lea4 A Smtt
a Am Ztno A Lead pf. . an
Anaconda Copper ... U
Atch Top A Santa. Ft-
. . Atlanta, Blr A Atlantlo U
10 Atl Oulf A W I S fl. . 47y
8 Atl Gulf twigsirn
7 Atl Ttcflnln pf HlK
. Austin NlchoUe !
7 Baldwin Locomotive . 84tt
.. Baltimore A Ohio.... 3a4
aa 8.8 Barnsdala Claaa B...
. . Hf tlllrhrm Jtn,nr IU
8 Bethlehem Steel B... 7
a Bethlehem Steel 8 pftM
Brkl-n lUptd Transit la
. Bfklyn K T otfs of dep 854
. Butto Copper A Zlno. . ay
. Butte A Superior Cop lSH
. Buttertck 11
California Packing .. 61
. California Petroleum. 4K
7 caairomia Petrol pf.. 71
140
10
AM
IN
let
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ISO
41
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400
aoa
IH
200
IM
104
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80
10
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1
loo
100
90
3
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11009
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100
Mt
sooo
300
Low
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114
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4
t
Bonds
Investors should ask
for our February Bond
Circular. It lists many
attractive issues of
Government, Munici
pal, Public Utility and
Railroad bonds which
we arc recommending
tor investment
Harris, Forbes & Go.
rt eirt. Cerorr WUUao
NEW YORK
PHILADELPHIA OFFICE,
Widener Dldg.
Lehigh Valley and IS'ortlwrn
Central Make Slight Gains.
Remainder of List Quiet
I The shares of the Pennjylvania Rail-
roud Co. were the center of trade on
I the local stock exchange at today's s
Blon, business being pretty well scat
( tcred over the list, but with nothing of
I a sensational character occurring. Price
I movement were narrow and the turn-
over of stocks rather limited. Lehigh
I Valley and Northern Central were the
I other' members of the railroad group to
appear, both being higher, but sales of
each were very limited.
I A rather spectacular rise of 1 H points
. marked a turnover of flfty shares of the
1 United Companies of New Jersey, the
i quotation being advanced to 169J4.
i The remainder of the list developed
i little of Interest. Utilities attracted
some attention, but sales were for the
most part of odd lots. American Oas
was up. as was also United Cns Im
provement The last named and
I Electric Storage Battery were In the
limelight last week, but have received
little attention during tb current
eek, prices holding about level.
A three-point rise in the United
Itailwuys 4b was the biggest thing hap
pening in the bond section of the ex
change, The block was not a large one.
, Pennsylvania Itallroaa new Ofts were
ip almost a half at WVi.
The "inaugural boom" in the stock
market, which has been in anticipation
for the last couple of months, has so
far failed to materialise, and with the
i professional bears making raids on
1 various specialties from day to day and
inventing malicious stories concerning
1 this country's relations with Japan or
England, or poor earning statements by
this that or the other corporation.
it begins to look as tbougt the public
is too badly frightened by the efforts of
thcie rumor-mongers to taae even tne
781
300
100
10
IM
100
lft
MOO
144
ro
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50
408
ISO
1209
100
ls
17
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ISO
10
73 0
100
1WC
100
100
100
1U0O
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809
1(0
0
10
20(0
3 00
:to
S Cat Zlno A Lead,
10 Canadian PaclOa ..
. Central Leather ...
7 Central Leather pf.
10 Chandler Motors ..
4 Chesapeake A Ohio.
. Chicago A Ot Weet.
. . Chicago A Ot West pf U
.. Chtcigr. Mil A fit P.. S7K
.. Chicago Mil A 8t P pr 41W
a Chicago Northwesttrn ?H
.. Chi It I A Pac n
Chi P. I A Pao t pf 88U
7 Chi P. I A Pao 7 pf 11
.. Chile Coppr 114
.. CMno Copper alH
.. Coca-Cola IBS
. . Col A Southern 3814
4 Co A Southern let pf . 31
Columb Oas A Bleo.. aH
1 Col Oraphophone .... Vi
7 Col Oraphophone pf . . J7J4
7 Consolidated Cigar .. 81
7 Consolidated Gaa ... 18K
8 Consolidated Textiles. Si
7 Continental Can .... St
.. Continental Candy ... IV
4 Corn Products Kef... 88W
7 Corn Produota Jlef oflH
300 S.80 Cosden A Co 2H
4300 8 Crucible Steel SIR
100 .. Cuban Cane Stirar. .. II H
4 Cuban Amer Sugar... sili
10 Del Lack A Weetem .318)4
. . Denver A Rio arand 1 H
.. Ctnver A Rio Or of.. IH
1 Dome Mines 13'4
800
188
too
no
too
ts
T8
soo
:9
18480
40fl
50
388
4 MO
4800
SftO
100
130
88
8M
1200
100
too
400
ltO
8400
188
100
300
US
tl0
70
3M
18
890
T010
80
ieo
t Eastman Kodak 7
.. Elk Horn Coal V&
8 Etodlcott. Johnson . . . ft4)J(
.. Krl 13H
8 Pfemoua Playrra L... 87 14
s Famous Flayers pf... 81
.. risk Rubbtr 14
.. lereeport Texas 1714
.. Oaaton Wmj A Wig.. ?H
.. General Asphalt 88H
8 General Electrlo 12
1 O'neral Motors 1114
8 Oen Motors deb .. H
Goodrich B V 30 Hi
7 Great Northern pf . . . . 74
4 Ot Northern Ore etfa.. 88
.. Gulf Mobile A Nor pf 4
Haskell A Barker Car 87 14
.. Houston Oil 88
1 Hupp Motor Car lVi
9 Indian Refining 18
.. Indian Refining pf... 88
(0 Indlahoma Ref '
. . Inspiration Con Cop. . 84 K
.. Interb Con Corp 4W
.. Inter Con Corp pf . . . 13 1
.. Intemat Agrlcul 18
Int Mer Mnrln pf . . . 81
7 Int Motortruck 1st pf 78
.. International Nickel . 18 K
. . International Paper . . 81)4
Inter Paper pf atpd. . HV
.. Invincible Oil Corp... rH
18
84
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117
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33
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4 - 15k
4754- 54
47 - H
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4M- 54
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75
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l-54
731k V
tK 5k
Dlv.
Bald in t mh
14 .. Island Oil 4)4
V 900 . . Jewel Tea 854
1)4 . . Jones Bros Tea 94
13H .. Kansas City Southern to 54
180 t Kansas City So pf. .. 4(Vk
7ft 4 Kelly-Sprlngfleld Tiro. 814
30 s Kenneoott Copper ... 17 It
14 .. Keystone T A R 1854
19 a Laokawanns. Steel ... 84K
IH . . Lake Brie A West pf . 3
9M 8 Lee Rubber Tire 354
ZH 1.80 Lehtgti Vallty 83
S3H 8 Loewe Co 17K
10 . . Looee-Wtlea Biscuit . . 88
100 13 Lorlllard Tobacco ...183
740 10 Manatl Sugar 78
M is Mexican pstroleum ..1854
W 1.40 Middle Stat Corp... 1H
3H .. Minn A Bt Louis 115k
104 ...Mo Kansas A Texas.. 5f
18 .. Missouri Paclflo 16K
18 .. Missouri Faolflo pf. .. 854
30 . , Montgomery Ward . . 16
10 8.60 National Acme . Z0U
7M .. National Con A Cable 354
11 8 Nat Knam A Stamp. . 6154
J06 .. Nat RRof Mx!d pf 8J4
10 .. Nev con Copper 16J4
800 8 N O Tex A Max 73
48 8 New fork Central... 7154-
IM 8.8 New. Tork Dock 1154
0 .. New Tork N H A II. . 30
708 7 Norfolk A Western... I01U
314 7 Northern Paclflo ,... 84
800 40 okla Prod A Ret.... 8 54
100 .. Pacific Devel Corp... 18
304 8 Partita Oft A Eleo... 4754
14 1 Paclflo Mall II
MOO 1 .. Paclflo Oil wl 815k
3o Pan-Amer Petrol 745k
8 4 Pah-Amer B 84J4
346 g Pennsylvania R R. . . . 44
40 .. penn Seaboard SU1. 11
184 .. Peoples Oas Chicago. M
494 .. Pere Marquette 11 Ti
308 S Philadelphia Co 13
780 .. rhllllps Pet 1454
1084 .. Pierca-Arrow Motor.. 1854
86 .. pierce Oil 154
446 a puts coal 0J
830 .. Pittsburgh A W Va.. 1
1 7 Pressed Steel Car pf. 84 5k
646 Pullman 1M54
160 Punt Alsgre Sugar.. 4
106 4 Pure Oil 14
104 8 Railway Steel Spring. 86)4
140 i.ao Rand Mtn Am Sharon. 31)4
146 1 Hay Con Copper 13)4
304 4 Reading 75k
144 Reading Jt pf U
144 s Reading 3d pf 48
1444 . . Remington Typewriter 31
404 .. Replo Steel 845',
100 Republic Iron A Steel. 48K
244 1. to Royal Dutch N T.... 84M
M .. 6t Louie San I"ran... Ul)4
lZM ., st Louis Southwest.. 27)4
44 . . 81 LoUls Southwest pf 38
103 .. Saxon Motor 4
600 Sears-Roebuck 78k
24 .. Sinclair Oil 234
8838 Southern Paclflo 78 K
14100 .. Southern Paclflo rts.. I85i
60 .. Southern 1UI1 atrj
10 j Stand Oil of N J pf..I0sj.j
16 7 Steel Tube pf 78J4
16 7 Stem Bros pf f
4 Stewart Warner Sp... 31H
14 3 Strcmberg- Carb 87
3300 7 Studebaker 88 51
14 s Submarine Boat Corp 8!4
3J0 3 Superior Oil Corp.... 754
JH Superior Steel 41)4
IH .. Tenn Cop A Chcm... 814
H308 Texaa Co 41M
244 .. Texao Co warranto.. 4454
3748 .. Texas A Paclflo 54 4
1400 1 Tx A Pao c A O.. 26)4
164 .. Third Avenue 17)4
. 1.66 Times Square Supply. 145k
no Tobacco Products ... 88)4
3644 .. Transcontinental oil . 8M
IH a Trsiisuo A Wmo Steel 88
144 .. Union Oil SATo
w 16 Union Pacific" 1:414
84 4 United Alloy Steel.... 3
IH 8. so United Drug- lot pf. .. 47
M a United Prmt m
04 1 United ReUtl Stores.. 4S)4
304 ..USC IPASMy 14
14 ..US Food Products.. ;(
164 U S Ind Alcohol 44)4
7144 1 U S Rubber 44U
344 U S 6melt A nef nu
4318 g U S Steel 81
304 7 U 8 Steel pf M4M
wo e Utah Copper gH
IH .. UUh 8o 8J4
204 4.V.Crollna Chcm ... 33J4
IH s Va-Ciir Chem pf 8
.00 4 Vanadium Corp SlU
300 1 Vlvadou Inc Sit
144 .. Wabash H
34 .. Wabash pf A si
104 .. Western Maryland ... 10
104 . Western Paclflo 38
144 Webtern Pacific pf . . . C8J4
204 7 Western Union Tel... 87 V.
H .. Wheeling ALB t
10 4 White Motor 28 54
844 .. White Oil Corp 14J4
JH 1 Willys-Overland 7
100 .. Willys-Overland pf .. 83 ti
244 8 Wilson A Co... 7.... 43M
104 ( Woolworth P W 148
low
454
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34
945k
4ik
87
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84H
81
2454
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87 K
8K
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U
INDEPENDEN
T
OILS
LEAD CURB TRADE
Pronounced Strength in Somo
Issues Mining Stocks Quiet
and Without Change
Now Yorlt, Feb. 23. There wae a
steady tone to the trading on the Uroad
Street Curb with some Issue showing
pronounced strength and making sub
.tuntlal gains. Ouffey-Glllesple was
the most prominent feature In the ln
dependant oils, that stock making 4
further advance to 3d and showing 8
gain of about 7 points in all so far for
the week. The belief prevailed in
some quarters that the display ot
strength was connected with arrange
ments for new financing,
There was a fair amount of butinest.
In the Standard Oils, Prattle selling at
400 and Standard 01! of Indiana at
GOV, to rD. Maracaibo. utter selling 4t
21, was again in demand and mads
a brisk advance, nyan uonsoiioaiea
sntri at 7U. Thpre was a larce volume of
t...,A 1. nti.B., n. -.7(i4 wilt.
sales at 1 to 2. Carlb Hyndlcate
HnJ frm 7U n 744. Inter-retro-
1um was onlet with a small volume Ot
business at 18 H to 15. Ihirant Motor
we maintained at 20.
Tcrfectlon Tire showed a heavy tono
and yielded from 1 w ij. uooa
year Tire was steady, oelilng at 20.
Thnm n mni demand for Car Light.
which sold at 2 to 3ft. ttrltlsh Amerl.
can Tobacco was steady at lo.
Mining stocks were quiet and with'
out material changes In their trading
Hlth
Acme Cot I
Drl Am Tob coup
Car Uatit
Dnnuil Motors
ooodysar Tire pref .....
Ilaint xnuuns -a. ..
Italnts Knlltln "D"....
Indian Pacbltrj
Ptrtootlen Tire
Hadlo Com
nulla Com pref
U B 6Mp Corp
V 8 Gleam
Unltsd Pront 6harln ..,
Unlttd net Cuiay ,
BTAKDAHD OIL8
rrslrle O A O 49?..
Bland Oil of ln new 0H
Vtfuum OU 413
Ik
A
Hi
54
'54
K
154
14
Commodity Marietta
COTTON MARKET
New YorU, Feb. 23. Cotton opened
easier this morning at from 12 to 27
points decline, all months touching new
lows for the reason under heavy south
rn tvIm Mlllnir eiirthjtp MnrMilatlv 11-
Kill TT lUUlVl'IMUURtll LW M.-S v.vu .hh.... .. VV'.. w.-.. ,- .... - ..
slightest interest In the securities mar- tnuldation and Llvernool selllna-. weak
' . AnM ?J!P. .7. i !l & ik. Wi an. stock market, another break
exltts, which has made It easy for the'. . ... ....
nrofesslonal element to oroflt by any
drop that has occurred by the selling of
shorts, and the trend not only In stock.
but in commodities and toreign ex
changes as well, has been to lover levels.
Philadelphia Stocks
i HI '2
1-10
P m.
N'tt
chvn
SBll I
A CLOSED
FIRST MORTGAGE
Ojn nllni i Tfr Undtrl1m
ln ooo WO Jun.ar
It. i 't
rnirr lirronr rnr. war 10;
Now 82 and Interest
EDWARD V. KANE & CO.
Morrn BuiMing
5 Am Strs
70 Am Oas. 81
lOOtCol Graph fl
1 ElecBtor.101
. no,
0 Lake Sup 8V3
20 Leh Val. S3
ilOIMIdvale 31
100 Nor Cent 07
332 Pa II n 40V4
12 Phil Glee 22ti
40 do pref.
lBtSou Pac
111 I'O I... 38
oO United Cos
N J... 160 160 ieoia4
't chni rac sr cemtMrlion wltb last
. Tora aioea Kicnanst.
22 ti
fi, 04Y OJV4..
AT htA 8,4 l
101 101 . .
28ft 281-J..
53 03
30 30i J
40
23 M,
27
334
1
67
40
22M,- 4
27..
78V4-
86 Vi
nONTIS
xign row
rw iai
7fi
l 13
p m
101
78
N.t
chs.
Inveatora' Pocket Manual
A copy of our 1021 Edition wilt
be aent you without charge,
on requeat
Scott & Stump
Investment Sccuritiea
Slock Exchange Building
t'HII.ADLM'HLV. PA
40 Kxeouii flare, New 7wk
.n on
'! In
110)0
2 Hell Tel 7i.ltf
1 Leblgb Val
ann 4',. 78
W Lib Honda
2d 1 Vis 00.00 00.0000.1)0 .16
10 3-10 1th 44s 60.00 86.CO 86.(56 .33
J VIC i'"ta. . Hi 10 117.40 B7.40.04
'j Ponns Co
flVis .. MVi SOtt 0914
4 3-0 Ur.i Itwys
If 4s. .. 36 36 30 -?-3
Qtnu
BANK CLEARIN08
c.ftrtr.o tooi., r.iminre.1 with cor.
refpondlnr diy lui two jr
i'i
1031 120 ISIS
rnnt iTs.zsx nzo im nin.-fo 171
Iiofin ti.ni'w ifijtt oe 101. goq
,v v hht an nit sio,j.4il
7i.eta.4fia
e,fiis.04t
A44.1D0 ISt
Stockwell Wilson & Linvill
Certified Public Accountants
Lgoid Title Bldff., PhiljidoIphU
eUnoffrapliers In Nw York Bank
SntelUnt npporiunur in ir mnmiowj
ink tor C4Pbl. JixrUnfM toqrrphtri
SlUt o Alng eondlllona.doo4 aalar-jan4
ln4jQ44l Slat !, wmwjsiiii (-v
14
bank
1
a
JwKT.i?'iOT74
p tP. 41th at.. New Vi
Bugg Receiver for A. B. 4 A.
Atlanta, Oa., Keb. 31 Judge S !.
:" bley. In the United flutes court today
HlsmMl an order appointing President h
l Bugg as reoelvtr for the Atlantn, Bir
mingham and Atlantic Railroad. The
order 'n t-urd on petition of th Ulr- 1
mlnghsm Trust and Savings Co., of Blr.
mlrgham Ala which alleged that it
hedl a note for 10,004, due March 7.
which the road was unable ta pav
in London silver and reports ef a de
moralized Manchester market.
Private Liverpool cables reported a
lade of confldeace in the British finan
cial situation and predicted that cotton
would sell at 6 pence
Local and Wall street shorts and the
trade were active buyers at the decline,
and there was some buying- for long
accounts on the reaction theory, but
offerings continued free and prices
bhowed little rallying power during ths
earlv trading.
Tmi. Tody'a
eio epn
12.27 JS.15
12 77 JJ.SO
IS 21 1S.03
S3 18.70
H.0J IS 85
Starch
7 . .
July ...
October .
Vtc-nvtr
12:80
n m
r.'.io
13.71
18.20
iSo
is.o:
MUST PUBLISH BANKERS'
SALARIES IN AGGREGATE
Comptroller Rule Individual Pay
Must Be Listed and Kept Secret
In future published bank reports an
item of "aggregate salaries' paid to
exroutlves and employes must b In
cluded. This wan the gist of an order
Issued by the comptroller qf th treasury,
at WaaMnrton. yesterday, and which
brought comment here.
Tho Item of "Individual natarles" does
not enter Into the published report, but
must be Included In the report filed with
the comptroller.
Initial interpretation of tho order
caused some apprehension among bank
ing executives here, under tho possibility
It might mean tho scattering for gen
eral Information, as well as for tho
stockholders, of Informative data aa to
the relative financial worth of various
person.
In New York ban Item were quoted aa
holding that "publication of such Infor
mation would be the oourct of Invidious
comparison among banks and might
cause unjust reflection "
Tho clauses outlined by an official o'
the Federal Reserve Bank under whlcl
reports will bo prepared for publication
in future follow:
There must b Included tno aggre
Financial Briefs
Members of tho banking- syndicate
that underwrote 88,000 shores of per
cent prcferrod stock of the Kellv-Sprinu-field
Tim Co. say that this nyndlcato
not bo extended. The syndicate offered
the new stock to holders last year on
tno basis of seventy eharea of ni. ...
ferred for every 100 shares of old pre
xerred held, and seventeen and a half
eharea of new preferred for even.- 100
snares of common held. The offering
price was 110, compared with the under,
writing prlco of 44 H.
American Sumatra Tobacco reports for
six months ended January 81 net in
come before tncomo and profit taxes and
depreciation, but after Interest and
other charges, 11,835.216, equal, after
preferred dividends, to f 10.15 a. share
on 114,448,686 common agaliut tl 467..
978 or 19.60 on the common the same
pried In tho preceding year.
1:20
Vnw p. rn.
ik n t
18 IS 18
20 so 20
SB 29 8.
t k
i 1 1
is i iS
t Bit Vi
408
00
818
403
81
rNDKPENriENT OILS
18.
Allied OU
uoone
Iioetnn
carlo
tMnnv
isnainetrr i-eiroi ..
federal Oil
Ourtty Qllleeple ...
Hudeon Oil
Int Petrel
Ittrmi Oil
Maracaibo Oil ....
North Amer Oil . . .
Nobis
Oma.r Oil
Producer ft lur.rrsrs
Ilran Com
Hlmma Pet
Uk.llv OU
Spencer OU
T Co rlshts . .
011 ift S S
Wyomlnr 1 ,1 m
3
i
1W
so..
"I
Vn Ta Oil
vuiorla
Oil new
T Oil
stmrKa
Atlanta . 1.
II U- Ledre
Uooth 8
lloiton A Montana OS
Caledonia Mlnlnc 0
Candtlarla Mlnlnr 1
Com Virginia A
Cortts Bllver 71
Crtamn Hold Ir
Creiirant MacNamara .... 18
luri ads i
151 Salvador i
Hmma Silver 0
lSureha Croeaus 80
Bureli. Hollj- Ml
Gold Cone 8
Oold tm-el 3
Ooldfltld Ktoreneo B6
U(t)d Kewanaa a
Gold Zone 1
Oreat Herd 8.
iieeia Mltiinr iv
Iron nioeiom V
Jumbo Sxtenalon 0
Knox Divide 18
MacNamara. IS
Marah Mlnlnr ... 8
Mother Lude 83
Mother Lode new fV
Nlplaalns , 8
North Star
Ophlr Silver . . .'. 1
Prince Con
Itta Cons '
Hoch-iler Mines S
flan Toy fl
Hllv.r Klr Divide i
sihnd silver Lead ,'
Sucre Mln 3
Tonnpah tielmont 1
Tonopili Oaah Doy
Tonopah Divide ij
Tnnopah Kltenllon IV
Tonoph-JIni Uutler 10
Tonopih Midway 12
Tonopuh Mlnln !
Tonan&h Mlcoah 0
Tonopah Montana t
Tonopan Jtereut i.Mia .... ."
United Raetem i!t
4
7
7
7tf
n
Itt
c
l
IH
10
a
J!
d Con
victory
Weit En
while Capa
Wllbert ,.
bonus
Allied Packer So . . . . .
Amor Afl Client 7',4...
Amer Tob 7a, 1S2-J
Anaconda it, loss
Armour 7a S7.
Braver Hoard 8 U
Dtth Rtrel Ta. ltSB ... ftSU
Com aan 8a 00
Orand Trunk He . .. . VStt
Quit Oil 7a OS
Interboro It T 7a SOU
I, It K St L dlv Cs 101
Mortij. 7tte 08U
Ohio Power Te 3
Srare-noebuck 7a, 1022 . 03
Slnclnlr 7Ha 1U
Southwest Dell 7a ,. .... O0V4
Stand Oil N T 7a, 1020.. 101U
Stand Oil N Y Ta, 10SO. 10JU
flwltt Co 7 00S
Union Tank Line 7 100H
VS'entrm Kleo 7 PS
City of Derrrn 8a .... 04
Swedlih 0a TOU
Bwlts AHa H'J
Copprr Import Sa. 1022..1SOV
Copprr Kxport es. 1023 , 0V
tin Rn
01i 07
GRAIN MARKET
Chirago, Kcb. 2S. I'ndcr n contin
uation of the selllnj that featured the
trade yesterday, wheat suffered fresh
loises this morning. Support appeared
to be lacking. Wesknef in securities
and cotton caused a feeling of nerrous
nes over the general flnnnclal and eco
nomic situation.
Mnrch opened at fl.fln to 51.6SV?,
asalnit ?1.67 at the clo-ie yesterday.
May started at ?l.fS to $1.53.
against fl.rifl't, yesterday's last price.
Com also was weaker under scattered
selling by commission houses, support
wss poor. There was erldcnco of in
treasing receipts at primary points.
May opened at OOVit- to BSJIic,
ntalnit 60Hc nt the close yesterday.
July opened ot 71e to 70c, against
71 He st tho close yestorday.
6ats lost ground, f'ommlsslon houses
sold and yesterday's sellers of prlvi.
leges had to sell to protect themselves
on the break.
May opened nt 44VjC to 44c,
tigulnst 444ic at the close yesterilny.
Julv started a Wc to 46V, eompsrMl
with irse. yesterday's last price.
GOVERNMENT BONDS
Bid
Panama coup 8' 1001 7SW
Panama res 19l 7H I
Phi lolr 4a. 1SI4 ..... ,,.. 0
U 0 Oov eu as.1480 jou loo
SfiKaVIW.:,;'''? iffl
U H 0ircup4., U2,) ,. 101U l44
0U
O
DIVIDEND8 OBCLARGD
Bartalo and Burouhanna, quarUrly of
i.i .. M .n Mfflmon. cwyahU March
31 to itock of record March in.
Hor'h American Co. nuartrrlv of IW ptt
rrnt payable Aprl 1 to ilock of rrcoM
"uminaion Tyt-wrltir, nu."
on flra- profrrrrd and 8 J on
frrrl Polh payahlr April 1
record Marcjj 10
An 'fcnee jijni'- mw-'m, ... i-rt K.
uartcrly of 11.73
on Mcond pre.
April 1 to elnck of
LIVESTOCK QUOTATIONS
Clilmro, Keb. 26 CATTLD rierelptti
6000 he&d Dref steers, slow, about eicaily
pots aaalrr Early tap, 410.23; inmc hM
hlth-r; bulk beef steers. IR.3nG0.76: butrhrr
toclt bulls, calves, ttockera and frtdar
teaayj bulchar cow, and helrera mostly
stnanv: raiirnse rnw anil sairass ....
gate amount of salary, or compensation 'jj.oot; bulk bologna and if bulla, tsrf
paia oy uus nanw 10 me cnirnin ot o, vri cum ir
reiv in fiurj ti.oii- stoclirrs
tne Doara or oirectors tu anyj , to mo ""J'.K" '"?IJl?r !,7; '"
prealdsnt. the lco presidents, the cash- o.I,ffifc.nK,5.s. .r0",, T"n., r'nt5, '"
I.r .nrt h iLtiitstiuit i-ahlera for th 1 :9S Di1,r! havl slow; otlirrs active, Tcp,
ler axid the assisumt canier ror tno $jo.66 for ISO to mo pound hose.- bulk, :t)o
mnnth rt January. 1B21 ! ful also thA M,i.4. An, t ,a k-,n -a. V.:,.. ' :.,
,".w., uu.ii, .w. V .w.ow. UlltK iljll
piss about stond
6(100 huad. Irht fat
Sounds up iO.lofflO
BHBEP nscrlota.
lambs, 26c lilahrri fat shrep yeArllnts alii
heav lambs 60c hlshrr. limbs top. 111.
choice, BD.pmund lambs, I10.T5, bulk fat
lamba. JlO.SOftll lOR.pounrt woolnd "ar.
Ilnaa JS.50 104-pound shorn ytarllnjrs.
47 73 122-pound cwui. J8.o: no choice
handv weight ewrr hrre
unnual aaJarv or oomDcnsatlon. based on
the January. 19 Jl, rate: o) aloo ths
number of officers.
'There must be Included tho aggre
gate amount of salary paid all other
employes of this bank for the month of
January, 1921: (b) also the annual ea.
srles paid all other employes bailed o:
the. January, 1021. ratu; (c) also the
number of employes. .,.. . .
"It means that In published statements
only ths ngirregatn amounts are namod
There ts no Individualising or Itemising
The amounts paid to executives and em
ninvra inrli virtually considered, are
rmmril In the more CeUllcd report which rtara 16 OS.
Is filed directly with the comptroller," i , bhbkp and IAMD8 lieceipts. eoon
said the Kedoral Dank off Iclal head. ft..&V"?! .,."?. .'!''
T7.e nomntroi ar. in nis annmu riiKiri. ..-- -"ri---- -t. vn.-" """"!
.'.r.. .'" ..,-.l- .. K.ll -ll.l. . t" io.w"
101V
iok
IUt Batfalo. Keh. 26
colnti, C76 had. Bteailv
inoo need.
- CATTLB Re-
bttady. 13618 '
HOOB Itecelpta, 8400 head, IleKW, nor)
78c hla-her, others, 23o hlshrr; heavy! 110 tr
10.751 mlsed. 10.T0dll.26: inrktrs llsht
yorkers.ajjd pin, J11.25, rnushs. I7.30tf:
v:
iXMt inrnualltleR of bank officials
palaiies and expressed the opinion bank
stockholders should be Informed as to
salaries paid to executives
NEW YORK COFFEE MARKET
New YorU, Feb. 23. Huntos con
tinues to show further weakness, a
wethers. ST 23 7 Ab ,vi CT
7 mlted sbtep, 1708 26
Kaal Ht. Iais, Teb. 26. CATTLE Re.
celpts, 1000 head. Steers stroiujj only two
deoks of natlvrs here; ten lovls of OUIa
homes brousht IT 761 not enough caiinera ans
stocKars to make a marketi veal rAlvea top'
lis,- bulk, 112013 60. v-
lfOGrt lUcelpls, 11,600 head. Active and
ino iu J9c niansr inan yriieraay's averaar.
this morning showing futures un-, ,ow, and prt(1. 2ao hishrri swrythir! lw and
chanced to a decline of lf0 rels, Tills sold iullty sood
brought out .asllli orders In the local j ufrAfainW J:
lambs unaolil, tO.30 paid for Sn-iyiund first
... n -i ri-rd nsable Anrll 1
Imprrlal Oil Ltd . luarterly of srvrnty
ni . .nts payable In Canadian fund, on
March 1 to stock of record Ifrbruery 24.
TtiH illrld-ind cover, coupon No 7
Standard Oaa and Electric, quarterly of
8 per cent on prereireo. payaoie. M-artn 10
IO einci l"t ri,". R . '
I Lahlrb vMey ueai oi ... ',ra
1 payable April 1 ts stocu er rtcoro Ma
of 3 to 7 points.
There were more March notices out
this morning and pressure of March
contracts, which sold off to 0.08, weak
ened the list somewhat, but trading
was futet. operators being disposed to
wait for the culmination of Harch li
quidation before taking an aggressive
stand on either side.
Prev, close 11a m-
11.10
S.d2
March
May .....,.....
I July .
12, nVptember , . . . .
17, ,DCirbr .,
A.02
7.80
7.4T
of the season clip lamba, one abort double
ueuu ui ivj iKiunil vwvs oruuini U.,0 UUII,
of lambs are heavyi quality Kind
Indian Refining Passes Dividend
New York. Fob 25.-The Indian IXe-
fining Co. directors have nnssed th r'K-
ular quarterly dividend of per rent (50
cents a share) on common ntorli dm, nt
this tlms. In the last two quarters of
1030 tho company paid quarterly dlvl
dends of 6 per cent. The regular quar
terly dividend of IX per cent on pre-
icrrcu wwi ucciureu,j)iiyuoio inrcn 10
A Convenient,
Commerdal Bank
Serving You 15V2 Hours a Day
Tho ndvonUferco gained by havinjr your account with
any bank arc In pnopdrtlon to tho co-oporallbn and
convenience which It offers.
Consider the location and policy of this bank, which has
been ft vital factor in the development of many aggrca
alve buglneflses. It is a silent partner in your under
takings, with a wealth of cumulative knowledge,
gained through years ot banking experience, ready
with eound advice on purine problernB of overy nature.
Checking accounts con be rtartd vith $200, and the
ttime careful attention is assured that We accord our
largest accounts.
Wo are Commercial, Convenlont, Progressive onc-htlf
block from Broad Street BtaUtfn.
Frankliiwiist Co.
l5ti.rwMjrkt ''TOJjfe Hiila.52rdtHirfc9J5U
.- .Mi11'lH llT8B. fc.
Capital, 91,000,000.00
Surplut, $700,000.00
FOREIGN EXCHANGE
New York, Feb. 36. The foreign ex
change, market opened with almost gen
eral advances over yesterday's finals.
Hpi.nlsh and Norwegian exohanges were
exceptions, each showing a loon of u.
point Oullders ware unchanged, Ster
llnu rore H, to S.85M, for demand and
M0'4 for cablsft Francs ehowed a
filn of 3 tMlnts, at 7.13 for cables and
12 fot checks. Lire were a half point
lo-vrr. at 3.S3 for cables and 1.4ft for
chr'H a wins gained 6 to 18,60 for
c-flilcs and 16,67 for checks.
Other ouotAtlons wero:
Uutlder cables 14.10, checks 84.08; pe
nt Uh oiblon 13.17, checks' 13.86; Stock
holrr cables 32.85, checks 11.36; Chris
tUnla cables 17.88, checks 17.36; Copen
hagen cables 18,20, chocks 18.10 ; Belgian
cables 7.43 checks 7.43: marks l.0.
TESTHnDAT'S KINAt, QUOTAT10N3
Sterling FYftncB I.tre Oullders
Demand . ,88lJ 7.0 8.04 68. K
Rablei 8.10 7.10 8.44 14.0o
TODAT'B OPENINO QUOTATIONS
Sterling francs Lire Oulldrra
Demand .. 3.S3 7.12 8.SS. 84.03
Cables . u.ho-h 7. lo a.nai
84 10
ft. 87 OOO
,',;... i 1 ocU f record Irch 8. ,
MONEY-LENDING RATES
NKTV YOIIK -Money on call, both
classes of collateral, opined today nt 7
ner cent for lending and renswlnr.
Time money butlnears was virtually nil
today Tho nominal rate quoted wna 7
per cont
The easier tone of call money and
other conditions In tho market for prime
bank acceptances were believed to fore
shadow a return In rates on prime ninety-day
New York member bills for 6
per cent baals.
There was little that was new In
prime mercnntlln paper and the minimum
wan quoted at 71i with occasional trans
actions Vi or cent above and below that
rate.
Pfitr.AUUl.rniA. Call, a per cent;
time, 6 per cent , commercial paper,
three to six months, 6 per cent.
fNote Theso are merely nominal quo.
tatlons, tho legal rate of Interest In the
state of Pennsylvania being Axed, at 4
fer ccnL Plus premium and comrmsaton,
ime money for thirty to ninety days
Is loaned at i to B par osnt while
commercial Daoer. from thro to uiv
months, is being offered at I to I H per
c-t. T
i
Railway Equipment
Trust Obligations
Wc havo juBt pub
lished a booklet do
6-cribing; the peculiar
advantaged and fca-
turcB o f Railway
Equipment Trust Ob
ligations. We shall be glads to
Bend you a copy.
Kindly ask for Book
let K-8.
CASS&JX.V CO.
CDMHWOAITrrUBTlLDa
VHKAmXJWK
tsgwvrjsai
AUOaOM-1
Paris-Orleans
Railroad Company
6 Bonds
Under agreements confirmed
by law payment of principal
and Interest of these bnds
is eecured to the Company
by the guaranty of the
French Government
The dollar value of the in
come and principal will
increase with any improve
ment in the rate of exchange
on Paria.
Price per 1000-franc bond
and descriptive circular on
request.
Hemphill, Noyes C& Co.
ieuiSam JtW W Steve raft.nj
Ftankltn Bk. Bldg.,PWlyierprua
VewVaMc Basts aagvrsw
Ansasty tgnaom Biataiassra
OUR CIRCULAR
JUST ISSUED
Containing twenty-tliree care
fully eelcctod issues, including
Ualted States War Loaas
PeanirlTBiiia Muaiclptl Boadi
Uaderlfiar, loBgLme RaHrua
Beads
SHort-tim eblifarioni
Publk Utility Boad
With descriptions of etta
security.
The list covers a wide vanjt
of well-socurod investnienti.
yielding from 4. free of
all Federal Income Ta-ttt, to
We, free of Normal Federal
Income Taxation.
Write or Cott for Circular B
REWBURGER,
HEHDERSOR & LOEB
ANKERS
Mtmben New YorL tt&
Philadelphia Slock Exchavcit
1410 Chwtnut St
The Return to
"Normalcy"
is being unmistakably ac
celerated in the woolen,
automobile and other es
sential industries. Sound
prosperity is in sight.
Our Current Bulletin dis
cusses the important factors
affecting business condi
tions and offer a list of
carefully selected Bonds,
Notes and Preferred 8tockr,
yielding
6 to 9.33
Atl: for our Foldtr L-300
HolHster, White & Co.
Incorporated
North American Building
rniLADiarHU
peates rTtrrlilaoe Krm Vark
npriasncia russneia I'ertla
land
AAtJaaJla,MMasa..a....aa;
$100 Denomination
Bond Secured Gold Note
(Saorl U lasg tiraa atatarstiss)
of nationally recognlred Publlo
Utlllt)' Companies. Uncommon
earnings covering a period of
years. Unquestionable equities
and security thoroughly safe,
guarding capital Invested.
1600 and 11000 Notes of these
Issues also available.
Price to yield 8o
Clrevlere 0 w on reijuMI
FaintioUi & Company
Drat Building, Phlla.
KlUbllalied 1801
A. H. Bickmore & Co.
HI Broadway, New YorV
iWfrWttWtVfrtVfVTWrt
t, h. sailes c. a, rATxt
Sailer & Stevenson
id au cuiuiTrtOT errs.
BONDS
Tax Free, tfcldlag 4544 to 8J4
Better Busineas
The anticipated im
provement in business
13 already evident in
many industries. More
settled valucsandmorc
dependable earnings
are being established.
Write for Letter 730,
which describes bondt
and notes that still yield
large return and arc ob
ligations of corporations
benefiting by the trend
towards normal pries
levels of commodities
and service,
Bonbright & Company
437 Chestnut Street
Philadelphia
New York Calcafs
Beatsa Dttr.lt
Westers N.Y. 4 Peruu. tX
Garat Mortgage. 4 143
Prica t yield 7.3C
HarrispnrfLigtit&Pwr.Co
1st Refunding 0 lBt
Pric to yisld ,7?&
Moore, Leonard
& Lynch
CUailMAN NBWlUJiU "IT.
Besi Dcportmesl
W20 Walnut Gtreet
Board Boom
Ritzarlton lloUl
Jfsmbar
Ksw Torli Philadelphia W
bursh atol Exchanges
RsUblUtied 1W
1422 SO. PENN SQ.
r&rvo kwcw
Offe to Investor
Their weekly list of can
servotively b.,
ties. It will be mailed fr
of charge, on request
Specialists in bonds J
foreign ffov4"1")?""
gUrling denominations.
Dlrrc. WlrsdColsC.u
ta XII Jrtwrtl VotW"
fato.Vto
jnqvtrlt fntw
jsmvanL
iee, Hnowa c!;
.11
Estasp""..tr cultaT
1 1100 Finance Dldg., FW'yjJ
i
- -' - .mMMa1g4lW
l'r
cwj J-ork Cltr
'J
L
7C .
.A