p h 7r. . . ' - "-w"w
"iv;-K f ffrHir-r' M -"tut1 3vTw: 'w'n
'.A' "ill" W)l',,,i""
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I
,.
EVENING PUBLIC LEDGERr-PHILADELPHIA, MONDAY, MABOH 28, 1921
19
Sugar
Stocks
We hava prpared a special
letter featuring lome of the
Important iur ecurltU
containing alio data on tome
0,her leading tlockl.
Aih for L-7
P. K. Guthrie & Co.
Members Phlln. Stork Kachango
1418 S. Penn Square
SUITE 300
(PUt'CK 07(17 RACE Kit
Private Wires to Sew York
Island Oil
Thf current Iwiue of our Market T
vien contain a comprehensive nrtlc a
in the Improved position of thin
company. A number of other stocks
ire ln dlncusstd, Including:
Midwest Refining
Texas Company
Studebaker
Hupp Motors
Kent on RegHMl for US It
Hughes & Dier
f I'hlla. HloeU Kithunse
I Nnf Aork rrodoee Kirhange
MwnberSrlMntirgh Stork Kliang
IChlrago Hoard of Trade
1435 Walnut Street
Philadelphia
"KS To. rittebnrl,
WE HAVE ORDERS IN
llnrrlsburff Lt. & Power i!,, 1952
lift1 lm Power 59- 196
WllkcB.Darre Co. 5s, 1960
Denver Gfls & Elec. 5s, 1919
United Lt. & Ily. 5n, 1932
Kansas City Gnu 5s, 1922
American Can Deb. flu, 1928
BAUER, STARR & CO.
''vSL T'i'T. 'lnr. Philadelphia
".V".. " wiiicr. iin lironowa
OlrictPrtviuTtVliSnrohce
GOSSIP OF
THE STREET
Boy Who Vanished Returns
AVIIllnm ,1. Mr-Hugh, Jr.. thirteen
j-en.ru old, of 1017 lllttcnhoime street,
who tlha.ppn.rcd last Mondny, lias re
turned homo, On Wednesday he was
reported as inlying to the police of the
fifteenth and Locust atreeta station. There was quite a general feeling In
Ills mother, Mrs. R r,a heth McIJtigli, finnii -i i ... .i.. '( t,mi.
.vsterday declined to rilsctm the case! flnnncl"' circle after the close of busl
She merely said that her son "returned I nfM n Saturday that the upward
'ome dnys ngo." Police of the Fifth ' movement which has been under way
'!f.lct- l.ni!1.,m?,.t.f,!'' ".V.(,".M.00d. th'lfor the past ten davs has not .vet run
nXAKf-ljLf.
.Special Notion
22r A V.'yfJ'X0 or T,IK COMMITTKK
iT,.i5n "Ii'0 ,ork of City Council will
if Jii.'S. S?11" Mrch 0th. 1031. '
at 2 o clock P. M In noom 4UH. city Hall.
ttMUultll trail IlKil kltAh 111 alaHilB 4
iiinnuift inn iitau uvni iiii liii'tiiin ui t.
Vlllanova College, and had not let his""' "re,
but that there will be a
family know his whereabouts,
inr inn fnn.ii.,,........ . .. i r '
l.i.. ...... "w" "J rtn oroinance regu.
irilIi,nLh; rn,'I of permits to persons.
firm Or COrnorAttnna nwntni. ...,..... ...
tins upon tho public street of tho City for'
the ronatrliiHAn n uia ,. ...'.
.S52. l,.P",i. railroad sidings; occupying1
I I!i?,.,.,i.'' ,.n.1 nln,c ,he charges for such I
occupation of tlie street."
-ill.l.p.'f'?n,Jn,t"""1 ln nl) ""I nd "ho
desire, to In heard thereon will be len an
opportunity at tnls meeting "
WILLIAM II. FEI.TON
Clerk of Council.
Proposals
"INQUIRIES SOLICITED!
i on ill
I STOCKS, BONDS
I sad
FOREIGN EXCHANGE
! MILTON HEIMC0
I STOCKS-rORtlCMOOIANCt-CONOS
MIMtl
(HIlAOf LPHIA STOCK SXCHANOe.
CONAOUOiTDSTOCKrsCMANSl
1632 Chestnut Street
riione.i Hell, Hpnirr sntt.i-n.J
KfMtone. Rsre 76
14 Wronilirnr ft 4SB aih Are., N. T.
Mnmfnrd. Conn, Hurlnsflrld, Mat.
Race I SSS
Clercland
I'ROI'ONAI.M run IIIMKH txiri V nr mi.tn
IN08. KIXCTltlt) THAVKI.l'.Vd (JHANKH ' -'iM.
t'OUVLKRH AND 1MMIR (IPRRATINii I
CA,nXMKT F0B 8TBKL ,awuihi ' PORTLAND RAILWAY & LIGHT
DAR"tENT or "TV transit ! & POWER COMPANY
i?t?ViNr,.riisV.atiAi. 1st & RcfR. 5s, Due 1942
,... I'hlladclphla. March 3. 1021. IIOl'CHIT ANI HOLD
.intth,ofnsv.-mVniion;nrw.ii Samuel K. Phillips & Co.
Dillon and Company
32 Broadway,
New York
Announcement
The undersigned have this
day formed a co-partnership
under the firm name of Dillon
and Company for the pur
pose of transacting; a general
brokerage business in stocks,
bonds and unlisted securities.
Dated Mnrch H.lrd. nil
IIA.MKI. nil. I. ON.
KDWAKII N. l'OHT.
Mfmhrm I'hltndtlphln Mock Kiclmnte
(107 Chestnut Htrrrt.
I .i"id .'!'." '2 o'clock noon, on April B. It
?." 'v l11, Rn1 "Peed Immediately thers
?J,,r'or. 'he Mllowln ork appurtenant to
i... r'"'" ,c.ievaiei llflliwny, nutnor ted UIIFnUPII ilAAUfU n SMA
feSTjiiN ROCKEY & CO.
wfllt romP nr Krnnl mwtA n.n .i4i ,
nusna'lptfn'iion'.t?,.0,': SffiVaWrtV- Certified Public Accountants
. Jt. "' m"" ' r' AP,H Drcxel BuUding, PhUadelphia
PurnUhlns twin nnrnirtvi ,n ""! ..mmi....
JfliT-'.0 "'" ,r" ,nn ao or more than 100
,"V!!..p,,.,.nl,r cr' contract 00(1.
1J. laiT received until Tuesdnr. April
.r.yr.nJ"hln and erecting TWO 10-TON
K';CTIIC TBAVKMKO CRANKS for
IslLvI.lHffi cr '"speeilon shop. Frankford,
Lontract A12.
isf,l10rri11 "" r'clvd unUI Toesdor, April
rmVr.nr,!h!5"r,CAn A,,n -"P Bt.KCTniCAI.
SSn innl?..?0' mt '"" ,h"n fi0 nor more
iiM-ni" o,""er earn Contract 007,
it ihl. lvod until TuesiUr, April
,h,nA.M wolneatlons ran be eeen at
if1.1.ei,.i,KVrV,i "'"floor and cSple,
of tame, with blank forms for proposals, will
Stlom ,0 ,nt,nUn bmt" upon appl"!
t,i:c.nil''07..w"lK!", ".aulred to comply with
inS 17 k,m."L" comprrmatlon Insurance.
SS iPf50, n1.u,, 'urnlahed the department
Rv ihif.- i.JM ct ""d'neured his llabll.
1..!lJn'rundor' rr secured exemption there-
SALESMEN
personal wanted to sell securities In local
company that In passed promotion stage;
experience denlrnble but not essential;
leads furnlnhed Applv
w. n. vvAtXAcrc.
103 I'nrkway Ildls.
Kor each bid that Is over J,V)0 a nrooosal
muVt '& flr.d"U.m ,h'.flr ""P.""" ""SoPSoHM.
Jai rnv 1i2ii iih Department. Room
eo. my Hall In accordance with th ordi.
4nT-oriekMr.r.''"'" ,n' rlathl to reject
mlereV.'f fAeWA ,?Sr..,i;i!!hllr.M ,or ,h'
WILLIAM 9. TWININO.
Director
Improving Conditions
Electric Light and Power
Companies are reporting bet
ter condition due to ccono
micH of operation. We believe
certain Bonds of well-cetab-llshcd
companies of thin eiasa
are a purchase and teill be
glad to confer with you re
garding them.
Reed A. Morgan & Co.
lrcji Bnrt TruW Bldff . Pnlla
M.mliera of the I'hlla Stock Rich
Annnal Meellnra
KB ANNWAI. MKKTINO OK THF
E.ec,r.o",Cokrn,p0,,ny"w11,0fhe n'ild X
o'clock m 1r th, T'elecTlon of 'a Iliard .f
Directors fo- the ensulnr year nd for ihl
P'.'rfy'n';,' VSH&ff ?-
KS OfOcei Mouth Tiled Mirii.,U
Philadelphia. M2rch22'l
The Annual liii. m ik. u.z.T.i: .'"- .
the Westmoreland Coal Company will hi'S.ii
ALr -"""i.10!!: "' J. ''"Ok noon, for tni
. v l,,irr. "frpciors to serve tlir
and for nil ,ujh other buIlnHs a!
ropsrly mm. Worn the meMlnr.
election
tears
may props
HOWARD n. WARS SV.
Srrre'a'V
IHrlrtenda
American Telephone & Telegraph Co.
A quarterly dleldend of Two Hollar, n.. I
share will N, paid on Friday. April is. ,0?l !
to stockholders of record hi ih, 1 C0,0 or
business nn I'rlday. March IS ID"!
On account of tht Annual M.'iit,-. .... ,
transfer books will bo closed from li,urrt'h."
March 10 to Tuesday. Mareh Sm 1021 'bJih
days Included. '"" oc'h
O. D. MTMVB!
rnn.ur.r.
l'lllllKLriIIA.A WKNTKRN llATTTPTV
COMI'ANV "
i'a.. Marrh 21
Norrlstown
PrtRFKIUlKD
oi. .uiirrn ! mm
f DlrtM? torsi ha. thi. !i: r1
iifSLirssssvsi'
(Ml
Boles Westwood
hemhets Phila.. jSlock, Exduna
INVESTMENT
SECURITIES
LaniTitle Mb Philadelphia.
PHONE' LOCUST 4721
Th Iloarrt o
rulrfd n dividend
rni ll'ttU on t
r'AMiviinv navahla AntJl ta n..H Pl
frrred stockholders of record at thi clnmi Zi
business March 81. 1021. c'0" of
Checks will he mailed.
BH.Rn.Br. RHRTl-Ksny Trei..,.,,
TUB lMitKC'TtlRM 111' KI)OARfTn:Alt'lr
Hons Co. hae declared the rrsAilar .lu.r ,
terly dividend of lajr, on fJ"r iysr.
IDif 1n2'' Myw"APrll I.
' JOHN WARD. Treasurer. !
How To Trade
In The Market
and other rules and 7
methods of interest to
traders are given in our
free booklet. "The In
vestors and Traders
Guide."
It tells:
The General Rules of
Trading The Rights
of Stock and Bond
Holders The Deposit
Requirements for Car
rying Stocks How to
Give a Broker Instruc
tions Broker's Com
mission Charge s
How to Indorse a
Stock Certificate
How to Group Invest
ments. Call, phone or write for
No. TU-391
Ask for latett available
new on any active eecurity
JONES & BAKER
Specialist In New York
Curb Market Securities
PHILADELPHIA OFFICE
WIDENER BUILDINQ
Tele, phones Bel, Locust 47 JO
Keystone, Race 220O
BALTIMORE OFFICE
433 EQUITABLE BUILDING
Telephone Sl Paul 8451
Offices In 8 Principal CIUm
Dbwt rrrrat Wfaea
GE0.A.HUHN&S0NS
.. . BTOpKB ANT tlONDS
i'embtrs of the I-'Mi'erMn. ,
Tnrk and Chlrasn Slock TTrrhnnses
p.. Yrk f.n r..ltnf,
Commission Orders Exscultd Id
All the Principal Markets
Liberty Bonds Bought and 3oId
llrllevue Court llldr.. 1418 Walnut Nt.
.V V., Ill Ilroadnsy Atlantic City,
Ambassador Hotel
further bullish demonstration during
this week which In mnpy Issues will
assume rather substantial proportions.
The motor storks were the chief factors
In the mnrknt lost nnnlt. hnth III point
of ndvnncc and value of transactions
recorded and It nan pointed out that
those conducting campaigns In the
motors were entirely successful In
creating n Mibstantlal following, as
there were many new high quotations
for the present calendar year estab
lished during the week.
As a matter of fort, the advances
In the motor Issues are warranted to
an appreciable extent because there
has taken place a marked degree of
-betterment In the motor Industry, par
ticularly during th(, past three weeks,
lt Is learned that some of the motor
companies' earnings statements for the
month of March will exceed previous
estimates by at least three times, this
being true with respect In (lenernl
Motors. Chandler and Studebaker.
These companies have been favored
with a tery much larger volume of
buslnesN than had been ' ted and
this In turn has resulted In .heir being
nhlo to reduce Inventories by a con-
slderablt larger amount than the most
sanguine expectations had Indicated
previously. .
lt Is felt, however, that the upward
movement In the motors has been
rather rapid and It would not sur
prise many careful students of ktock
market affairs If moderate reactions
wore to occur In tho motor list within
the next two or three weeks.
Bond Market Improving
After n period of the past three or
four u.nLu nf .liillnoss In the bond mar
ket, activity developed near the close
of last week and prices became a shade
better, with Indications oi improve
ment of a permanent character, devel
oping In the mnrket ns a whole, hosier
money mnrket conditions, no .doubt,
have been responsible In some measure
for the Improvement shown Iti the bond
market, although In the trade It was
stated that there has been a tendency
toward moderate improvement during
the past few days us a result of the
Issues which already were outstanding
having become fnlrly well digested.
It will be recalled that new offering!,
of securities have been confined to
within narrow limits during tho past
months, as this naturally 1ms afforded
time for the issues already outstanding
in the hands of the public to become
better nbsorbed and more widely dis
tributed ln the linnds of investors.
Turn In Copper Mnrltet
Another turn for the better was made
lu the copper mnrket during the past
week, due in Increased Inquiries from
consumers and somewhat larger orders
than have been placed on tne average
for several months. While the busi
ness is not yet to be considered sub
stantial, the Increase nevertheless Is
said to be gratifying to the lending au
thorities In the trade.
Quotations ore higher, the American
Metal Co.. which had been selling
freely at the beginning of the week
at 11! cents per pound for spot copper,
holding firmly for '2 cents at the
end of the week, and even nt that
figure It was offering smaller quantities
than unusual for iminedliile delivery
only.
Some of the other sellers who had
been meeting the low price of the
American Metal Co. had made con
greater advances before the end of the
week, one of them naming l-l4 cents as
the minimum nt which copper would be
sold "for the present nt least." Kven
Ihe small dealers and .jobbers advanced
their prices to from I2V4 rents to 1 2 Vi
cents per pound.
Natural!;, tills change strengthened
the attitude . of the lending selling
agencies, which continued to adhere to
their quotations of from VJ--); cents
to 1.1 cents per pound, nrcording to de
liveries and the quantity wanted. These
lendciH insisted that it would he rather
difficult to place nn large order al
the 1 U1 a cent price nt this time, and
for that reason they did not make nny
effort to compete with those who were
""""M"U,", """" THIS TltADEn.
NEWBURGER,
HENDERSON &L0EB
flfembora New York and
PhUadelphia Stock Exchanges
1410 Chestnut St.
GARRISON & CO,
Investment Securities
1030-32 Widener Building
U mb tr$ K Y. A TAIki. Sloth EicSancMt
Sprni S810 Rare S878
CREDIT MAN
" you have had experience In rr.dlt
work and wish to avail yourself or an
opportunity to accept a position with a
lood future, address In confidence, living
ie and particulars as to previous work.
C 40S, LKDOKU OFFICII
'
bonds lor Investment
TL Pfu!,"' UPn Ttsouest
Ine National Gty Company
t"T$SSm't Often In Ovr It Cults
l-hUadilehla li Ch.etnut SI.
AtUntlo City Itlt llsarderalk
Fidelity and Deposit Company
of Maryland
fcvrav kind or Huuwrv noM .
l HERMAN HOOPES, Inc.
.. . fleceral Asrat
i Mo NEAI XATATB TRUST DUXJ.
To the Preferred and Common Stockholders of
American Smelting & Refining Company
At the request of a larijo number of stockholders, the undersigned have con
sented to act ns a Stockholders' Committee of Investigation to inquire into the manage
ment and affairs of tho Company.
Th'8 Committee is not affiliated either with those active in tho management of
the Company or with those who have recently been nctive in attacking that manage
ment. It is entirely impartial. Its members have formed no opinion as to many of
the statements concerning the management which have recently been made by Mr.
karl Eilers, formerly a director and Vice President of tho Company.
Without roference to the adverse criticisms of the management which have been
made, the following statements appear to warrant an investigation:
(1) Practically tho entire Board of Directors has been composed of persons
drawing salaries from the Company, owing their employment to the favor of the
President of the Company, not to the general body of the stockholders.
(2) In this sense the Company has not had the benefit and protection of an
independent representation of its stockholders on the Hoard of Directors.
(3) Those in control of the Company have been largely interested in conflicting
or compoting companies.
(4) The large nnd apparently heretofore profitable selling agency has recently
been transferred, without consideration, from your Company to Guggenheim Brothers.
(5) The opportunity has existed, and still exists, to operate your Company to
its disadvantage.
(6) The present showing of your Company is unsatisfactory.
In view of these facts, and of the chnrges of mismanagement which hove been
made, it is clear that the stockholders should acquaint themselves with the affairs of
the Company. There should be made, by a committee acting in their behalf, as com
plete an investigation as may be had.
We ask the support and co-operation of both the preferred and common stock
holders by becoming parties to a stockholders' agreement providing for a contribution
not to exceed One dollar por share with an initial payment of Fifty cents per share
and constituting the committee the attorneys-in-fact for the stockholders for the pur
poee of conducting tho necessary investigation and repiesenting tho stockholders to
such extent ns may provo to be necessary for the protection of their interests. The
exe?ution of this agreement will not affect the stockholder's right to sell his stock, ns no
call for a deposit of stock is contemplated nt this time nor will it require the with
drawal of any proxy given for uso at the Apiil meeting of stockholders. Copier of the
ttochholdert' agreement may be tecured on application to the committee' t depotitary,
Title Guarantee ft Trutt Company, 176 Broadway, New York City, N. Y., or from the
Secretary of the Committee.
Datod, New York, March '24th. 1921.
Yours very truly,
HKNIIY KVANS,
CLAHENCE H. KKLSKY,
HKNUY K. POMUOY,
WILLIS I). WOOD,
HENRY WH1TON,
Commi'fiff.
RUMSKY & MORGAN,
Counsel.
IIHNK.ST STURM,
Secretary, 80 Maiden Lane, New York City.
TITLK (JUARANTRK & TRUST COMPANY.
Depositary, 17fi Broadway, New York City,
Now York Bonds
tBAIXB IN MOCOl
Am Ag-rru'l 1 'flSU I 1
Chrm d As Denmark Coti i 4 711
1 I00' ct II Ss 10 in
Amn Smlt'lt I 'Oregon R R
Ref's Ss I ('' Nvl Co t
1 77t, 2 . OS's 1 ?'
1 77 4 Den A it tl fd Oregon C bs
rt .. 77U 2 l&. 1 .!
I.. T7W I.. 4ft " I'so 0 t K Bs
1 77 H Del-lldl Cn n t 77 '.
if 77U I. 1" "
Amn T A T clt Do Can f '21 Pa R m 4V4s
4 . 78'. 0 tin'. I 7SW
10 7R Do Canada '2S, 1'ennit It It ft"
Amn T T lis I 02i I "IS
R . S2 I 02, 17 SR4
t. S2 2 112 H I'enna It It fls
t' ! Do t'enada '20 S M'i
Amn T A T fl a 9IV4 I'ena It R rt's"
2 ON ft .. fiM. II. f7.
1 97H D Canada '31 10 . . D7'4
2 II7. I SSS 10 P7S
Atch Topeka A ft 8l 7 07 4
H'a I'e al Dun t.lahl 0s 4 07",
1 ... BO I H0i, i 07 i
Atch Topeka A I on S H7'4
H'a Ft 4s I 00 i,i ft t7'
10 77 t . 110 1,1 ft 74
2 77 '4 Kast n T Va I'enna It It 7s
i 77 'l (leorsla cn .1 102
2 77 4 Sl'.IPhll County ev
2 77'. Krle It R ov A' 1 9
Atlanta Knot- 2 . SO IIMtt Cln Chi A
vllle A C 4s Krle R R cv O HI It a fts
1 7 hj a an a Hi
Atl'c fruit 7s llrle It lt e rv 2 HI'i
1 bs id an1. I 81 S
Atlantic Ref's-Oene'l Klec (la Publlo Service
rt SVis I . S7'4 Cn N J ft"
2 , nns flene'l Hire Bs I .04
i nnn i loot, ndm ny t
2 . nn i ioo, t so'.
Halt A Ohio cr 1 100", 1 o
1 0ii, Oote't F It 8s 1 SO
1 (MM 2 flR'4 R Chile S wt
n mis i ns, 12 . nn
it sau ft nsu 1 no
8 Oil 2 ns'l ReP Cuba 4 V,"
ii a Ohio a',s i as 2 nm,
1 81'4 0. n0 Rep-c C ft" '04
2 St?4 1 0M', 1 7R
Halt Ohio fts ft UR'4 8t 1. I'n Ml A
4, nn, ft . 08'. S'n Rly 4s
Halt A Ohio re O Hwlu'd rets 4 70
1 SH'i I . 104 I !
2 HSV4 2 101 10 70,
DtOPI.II ft . 104 Bt t. 9 V l
A W Va 4s ft 104 I H
4 HStj M Trunk rets 1 'MS
5 11.114 I . 103t 7 . Oflh
in OS', 7 102', Rt I. A 8 K In
Unit Ohio S "'id A Man fd 2 . 47 '4
Weefn 3V4s 2 04 ; Bt t. A S Fran
I TO', Itud A Man In Series A
1 . 77 1, 8 Sft. 2 not
1 70 '4 ft Sft '4 "OS
n a o h wn n it(i ft no'4
8'i reu ft Sft'4 n0
I 7ft', aft '4 ft" nn'
Hell T 7s rctsl 1 3ft4 17 "4
ft I0S 2 . a t 0H
1 01 2 88 . 7 noi
2 103 n a 2 not,
Heth Rteel fd I aft. I n0i
2 at 1 3ft . 2 r.ovi
Hkn-Kdl Co 8s I. . 3S!4 St L. H Kran
2 70 I s 38 t, Series H
Canadian Nl'n HI Cen'l 4s '83 4 78
Rlys rets 1 71'. 91 I. Bow'n 1
1 ift i, Indl'a Steel fts I 03
2 101 1, a H8tJ Bt 1' I A HIOUX
2 I0IH Intboro It T fd City 7e
Ct'l I'ncinc 1st ft B3 3 0
1 72'4 ft flt 10 04
1 7a, I at Sao Paulo of
I 72'4 - A4 Draxll 8s wl
Centr'l n n of Intl AVrlcutl I 2 07',,
New J fts Corp'n 6 10 07 4
8 nV. 2 7S', Beab'd A It al
C'k A Ohio fts I M Msirlne 0i 3 33
1 82'. 1 704 Beab'd A I. 0s
Ch'k A O 44s Jap Oove't 4a S 4(1-
2 7flti B 04 ft 404
C A O cv 44" 3 n S'n Hell Tel Ba
1 74'.' 2 041. 1 . H14
C'k II O cv .M Kan C Kt 8 A So'n Pacific fd
2 82'k ft'mep 4s 10 70'4
1 82'. IS, ft 7m,
C A 1 Hon 34 Kn C A S 3s 9'n I'ac cv 4s
2 . 3ft' 1 ftft 7 784
I 33'. K Belgium ns ft 78 U
8 38 2 ni'i S'n Rallw'a 4s
Chi 11 A Q 4s 1 01 I 87 4
lift liR'.l 1 Hi's 9'n Ilallw's fts
1 ns.! 1 ni4 1 R34
311 OH', li Helg'm 74s Stand d Oil of
73 lis I Ii7 Calf rets
2 IIS. 8 nnt !2
3 ns, 2 mi 4 1 101 'i
C A K I ct 4s I nil'4 I01'
b . ns. 1 n. 2 1014
10 31 8 nn. 1 102
Chl A Kastern 4 nil 4 ft 102
III guar ct ,1s K Helg tn rrtsTox A I'sclflc
10 Ml'4 II l7S l.a Ilv Bs
Chl A O W 4s 81 117 S I
1 82 I HT m Third Ave nj
1 82 I I f!7. 1 31
Chicago Mil Al 3 H74 Tidewater Oil
Ht l d 4s I 1174 Co ct 04
2 37V "7. ft . nn
Chicago Mil A 1 07", 1 IMI'.
St P 4s "25 I II7. Union I'ac 4s
I. 73l I T 1 804
Chl Mil A St 1 2 n?S 8 8O4
P cv 4 4a I 2 07 S Union Pac lis
1 1184' ft l7 2 HO
2 n.V. Kingdom Den-, 4 nn
'j 08 mark ct 8a illnlnn Tank
Chicago Mil A 13 117 I Car Co 7s
Sli' fd 4',s I niSl I too.
1 SO', 3 08 4 f K of O Urlt
Chicago A Nth 8 US', A 1 d 1V2I
W n 04s wl ft 884 !' 00
1 nn. ft 084 ft oo.
53 nns 1 . . ns1. 1 nos
1 nn'4 a 0841 .1 nn4
38 nnv 1 nh'il 3 nns
Chicago A Nth Kingdom Nur-J 3 nn4
Wesl'n 7s way ct 8s 1 1 K of tl llrlt
1 102 2 nns A I d 1022
Chicago R li'dl ft no1.1 10 II4
A I'ac fd 2 . nn4 2ft 04 ;
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Chicago n ll'dll.ake Shore M I sn
GRUENBERG FAVORS
Y AU
BUREAU
Research Bureau Director Says
It Would End Waste by
Departments
GREAT NEGLIGENCE SHOWN
To effect necessary ennomles. Fred
erick P. flruenberfr, director of the Bu
reau of Municipal ilwareh. advocates
the creation of n municipal bureau of
automobiles. B the establishment of
sncli n bureau, lie contends, a direct
check rnuld bo kept nn all motor ve
hicles owned b.v tlie city.
Mr. OruenberK'H iiiKRCstlnn nns made
after revelations made hj tlie city con
troller, slinwlns the neeliRent methods
of some clt) departments in carinit for
their cars.
A statement furnished by that official
to the special uotinrllmnnlc committer
on nutomobiles revenled an ntnar.lnR
lack of uniform system In the use nnd
upkeep of automobiles by the various
city deportments and bureaus.
ThrotiKh that lack of system, it was
shown, one bureau charged the city
Sl!."il..12 for supplies and 'nnlntcnnnce
for a year on n car that originally cost
?117fi. Another burenii rharRed only
iflltlD.rifl for the j early upkeep of a
somewhat cheaper car. Bureau chiefs
nscribed that wide difference in costs to
the fact that the higher upkeep figures
included expenses for labor and over
head, while the cheaper maintenance
figures were caused by thoe costs be'in
charged to other items In the budget.
Illll Now In Council
Councilman Hlmon Walter, chairman
of the committee, recently Introduced
nn ordinance providing fot the creation
of a bureau of automobiles, which
would virtually centralize all city
owned motorcars except those in the
fire nnd police bureaus and bureau and
department heads, placing them In a
city garage, where officials could call
for them hh fhey were needed. The
measure is now in Council's property
committiv.
"It Is perfectly ' obvious," Mr, Oril
enberg "aid, "that there ii a great deal
of 'joy riding' and uneconomical use of
city-owned cars. The Information made
public by the controller's office, how
ever, does not startle me In 11117 the
Bureau of Municipal Research ordered
one of its engineers to make an investi
gation Into the matter. The engineer
found the officials of Mayor Smith's
administration auything but friendly to
his Inquiries. He did learn some in
teresting facts, though, before the war
cut short his work
Buying Method Criticized '
"From the farts he presented me and
those given out by the controller I am
heartily in favor of centralizing city
nffii'lnldom'N motorcar service in some
way that will make for greater efficiency
and for a better system in reckoning
expense itetim for automobile main
tenance The engineer, for Instanre,
brought to light facts to show how offi
cials in some departments were buying
cars from concerns which shortly before
hod ceased manufacture. To get spare
parts for those cars the city was com
pelled to send to distant cities. 'In
volving long waits and unnecessary ex
pense. Cars that were still made nt
that time and whose parts were easily
nvallahle could have been purchased
just as cheaply and given juxt as good
service
"As to the 'Joy riding.' I was walking
along Sixty-third street this morning,
when I noticed a large motorcar, with
the unmistakable seal of the Deport
ment of Public Works on it, go by.
Now, that car might hnve been on
official business, I'll admit. But, then,
today is Kaster. ami It is just as possible
that (.nine official decided to take a ride
in 11 city car on the first fine Sunday of
the season."
CHINESE OBSERVE EASTER
1000 Men March in Unique Reli
gious Procession In San Francisco
San Francisco. March '28. China
town turned yesterday from smouldering
long wars, In which four of ihe largest
societies are Involved, to do honor to
Him who rose nineteen conturlc ago.
More than 1000 Chinese gathered in
n procession under the auspices of the
Christian Mission nod wound through
the picturesque streets of Chl1111tov.11 to
the grounds of the Chlne.e Y M C A.,
where an outdoor service was held
The procession was composed mainly
of children of the mission schools benr
Ing lilies the Chinese emblem of lib
erty -flags and banners.
Ill From Morphine Polionlnjj o
Harry Hlaller. thirty years old, It in,
11 critical iiindition in the Hahnemann
Hospital from morphine pollening.
Stnller occupies 11 100m on llldge att
une nenr Tenth street and occupants of
I the house last night, hearing groans'
from his room, found him critically 111,
Police of the Tenth nnd Button woryt,
streets station took him to the hos
pitnl Police say that Braller Is not a
habitual user of the drug, bur took it
last night to alleviate a headache. They
nre investigating the source of the drug.
A I'ac 4s H'n 34a 1 Ml 4
2 70 4. AS I' K of o llrlt
Chl Ht I. A N Lake rthore M A I d 1037
fi M ilv 4h 1 S'n 4s '28 , .1 S4
I 70', 3 N4 2 88 ,
Chicago Union L. VI y cn 4 4a I 88 4
Sta n 14s t 1 7111, .1 s34
3 80,il A Myers Ss 1 I S3&,
Chicago Unlonl I 84 'Ut t It di San
Hta'n Ss vet I. A Ms ore 7s V "jet Is
in 10O', I 107t.l 1 S2
I 100. 1074 I 324
Chile C'op'r UsI.MId a A Or ft. 2 32 ,
I 704 a 70S 10 82.
3 70 4 1 784' fl 32 4
I 704 Mn K A T 4s I 0 .124
I 70, 3 38 Ul d It ila H.m
28 71 IMo Pacific 4s 1 r unci 4"
21 71 1 2 B341 2 824
Chile Cop'r 7 Mum a I'wr BsU S Mntco 8.
I Iifti-,; I 84 I 4.14
I 03S ' 1 84 2 4ft
I 03 4 I 8.1 4 10 4ft
Chinese 0t fts I 84 4 IS'.
3 II 'New Or Tex !' S ltealt A
Clt) llord x its' Mexico 4s lnipv t 3
1 74 4 1 I 1W1, i Hrt
Ctj Chris a 8s N V Cnt I S4siU H Itubb r Bs
1
1
Oft 4
Oft!,
.' lift.
2 II ft 4
Ciiy Cop'g 8 4
2 72,
Clt Cop'g Ss
I 117 V 1 78'4
I 07 J I' 8 Hub 7 4
N V Cent I t 1 100
I TT ' I 100
N Y Cent 1 Us B ion
I 88", U d H 9tr A.
3 ssi, 1 nft
ft I0l. N Y rth. rt I. I
Cu l.ons tt, 1 h, , I
I 74",M P Pr Is 1
City Mars s lis' I 8 I
1
HA 4
Oft',
nt.
lift '.
44, New V Snsq A L'lah f A It 8s
I 74 4 w'esi n fd '3 784
I N Yk 4s '87l 1 ftsi, I 7H,
to S24N Y Tele i,n, 1 774
C N Yk 44'08l '.' 70v C Chem 1st
I U2 1 so 1 3 m -j
Clti Purls a, N Y Tele lUIVu C CI 74s
4 11114 I 111) I 024
ft liOs 3 110 4 1124
3 nil, iNew Y C I I 24
I 11(11 j I llnst 14s 1 02
1 IK1 4 8 33 4, I 1124
18 nn , us is no n it ns 1 ,
C Zurich rets
47 4 Va Irn Coal A
00 Nfk A W'n 4a Coko 1st
('I'd Cln Chl t! 4 711', I 1 sn
St I. Km t I I TUSiVn Itullw. .1.
I mi'. I ft 77 I 82 4
CI d Cln Chl Al.N'R A W d Is 2 82',
SI l.a 0s I 7l'tWn Pacific li
1 88', iNfk A W rv l.s 1 824
Colo A Sn 4s 7 I01, 'West Shore !
4 81 'Nor 1 Wealeinl 1 70 .j
Colo A H 4 4ll Hell Tel 7" W A U Mfg 7s
IN EVERY YEAR
FROM 1906 TO 1920
THE ESTABLISHED MARKET VALUE FOR
American Telegraph & Telephone
Co. Stock
HAS EXCEEDED THE PRICE FIXED IN THE
CONVERSION PRIVILEGE OF
American Telegraph & Telephone
Co. 6 Convertible Bonds
Due August I. 1925
Listed on the New York Stock Exchange
PRICE ABOUT 97i2 & INTEREST
YIELDING b.bb-'r
CONVERTIBLE INTO THE CAPITAL STOCK OF THE
COMPANY AT $106 PER SHARE
The Inst nnnual report of the American Telegraph cV
Telephone Co. points out that through an established
license contract, its standardized transcontinental wire
system provides a national service at ratea at least 25
leas than would otherwise be possible.
The Capital Stock of this Company has nn uninterrupted
record of regular dividend payments of Br per annum
for the last 15 years, and for itself and its predecessor,
the American Bell Telephone Co., a record of pay
menta averaging almost this rate for the past 36 years.
The amount actually paid into the Company's Treasury
for Capital Stock issued exceeds $108 per share, while
the surplus earnings reinvested in the business by this
Company and its subsidiaries and carried as surolus
ind reserves is estimated to exceed $200 for each share
of the outstanding Capital Stock of $100 par value. '
The total funded debt of the American Telegraph k
Telephone Co. aa of December 31. 1920, was $317.
429.000. nnd the par value of Capitol Stock issued
$442,825,400. The earnings reported for the calendar
year 1920 amounted to $103,946,988 Cross, and
$70,686,904 Net, applicable to the payment of $18.
665,688 Interest Charges.
The present market value for the Capital Stock is ap
proximately $100 per share. In March. 1917, just prior
to our entry into the war. this stock sold nt $127,
nnd the year previous sold at $134Vi.
Tho purchaser of the Notes should get the benefit of
nny upward swing in the price of the stock. If no surh
move occurs, he can hold his Notes to maturity as a
high-grade investment.
We will be glad to go into the matter in detail
TRedinondftstn.
A COSIMS'ATIOX OF
FRAZIER & CO. AND REDMOND & CO.
Broad and San so m Sta.
Philadelphia
Now York Baltimore
Pittiburgh Washington
I'lioro pi. a is
PHOTO riYr
photo ruu
yCTMcreHWBaaai
Daily Photoplay Guide
n ' 1 1 v.
. lUiaati3Ha3sKci43ijiig
DIRECTION STANLEY
COMPANY OF AMERICA
ffi The NIXON-NIRDLINGERrTTtr
VlJ THEATRES jj
ALLEGHENY, .M!. V'&EY, 8 1 AVENUE 25,h sWmX'i.y'9
(JHAKLfcS KAY H. B. WARNER
"PKACKKPI. VU.l.KV "HIIKJ. HK H'KRK TWKNT1 (INK'
PPI IWnMT G'.'IJ A DOVE MARKET
DlNUnL W -A 1 i 4.1 A ll p M
Hi na.l A Htuder
CHARLES CHAPLIN
THH KID'
DOROTHY GISH
"TIIK, I.IKIS1 N rilK IIVHKP.I'
MARTHA MANSFIELD
"HIS HHOTHKH'H Kr.KPKR"
CARMAN 0E,UANT'WV AVK
CENTURY At and th m
s-in iuil MITINKK 2. IS
Hill xj I'K.TKRS
"ISOBEL"
-"-N 4MAI ftn Maplewood .ve
1AJL.W1N1-L-. 2 30 7 nd 0 P M.
rrrii. iik mi i '"
"FORBIDDEN FRUIT"
DARBY THEATRE
CHARLES CHAPLIN
"Till: Kill"
EMPRESS 5,UN hli,AMr'..Ji;?AKu.v
CHARLES CHAPLIN
"run Kin"
CANIII V Till. rilK 1311 Market Si
rAlVllLl s M '.Midnight
WILLIAM S. HART
lll.l'i: lll..'.l'. KAWIIKN"
CEDAR
IIOTH A CHOAH AVCM'L
II K Mt IlltW
"IDOLS OF CLAY"
ii ininn front h
jwtfiutvt Junit.i Iup
Hroad Hi at Kris
7 t- a i M
r.RFAT NORTHERN
CONSTANCE TALMADGE
nil'. PUii'Kcr wiiman"
latOtrDIAI ""TH i WM.NPT HIS
IMI LKIAL ir.t. .'.in knks 7 a i
NAZIMOVA
llll.l.HINr"
sriti:t:i' iiik.ntuk
1 1 lft 1' M
i 74 a?', 2 nn1.
Cons d tlas 7 1 Ii7, 3 nn
2 nil". I I 07'. i nn
Cuban Amer'nl 1 H7 4 ' I nu
Sugiir 8 l 3 H7 4 ,i mil,
1 101 I ii? ,' 2 . mn,,
i mi , n ii7'. 2 'in'.
2 1'H 1 1174 I Oil',
8 HM 3 n7', I mi 4
Cuban C S r 7 1174 , nui,
Ii 831,1 I . 117 , H DO',
333 MARKET,,""!;
( I't'll. lK Mll.l.r.'X
"FORBlDUtN fKUll"
DDIMPCCQ ,""' MMtlvl.'l srilKrlT
JKllNN.-n.3j sail a m I.. 11 ir. i' m
DOUGLAS MacLEAN
"TIIK IHIOUIK'H RI'.TlltN"
DI Al Ti (lnit.MANTOWN AVEM'K
KlALtlV-' AT TI'l.PKHOCKK.N 3T
.MONTH IIM'F.
"THE JUCKLINS"
ir.1'1 ft"TH ANU llnril
THOMAS MEIGHAN
"(O.NR.1) IN lr KMT UP Ills 101 TH"
i.MtAltl) A K
....r . ' I'm 1 iniiniuni 1
fll.NM t TrlXRI.K
"MAROONED HEARTS"
I PAHPR liil IXNCASTKR AK
U.i.r-VIL.l MtllNP.l' li.Nll Y
BILLIE BURKE
MIKI'.OJ t'ATItl.N III r,l.y,HKTI"
1 nn it i-r vN" ' "i'i'ht THKi.rs
LVJv-UJl M,., is,) nR, Kll!h 11,10 lull
ST 111 CT In
"The Passionate Pilgrim"
NIXON ;' KSV UvaKrrr sts
BRYANT WASHBURN rJ
A.N MV1i:tK IIKX II "
RIVOl I 'V-',, AM S.NSOM SI"
IM VUL.I MAI iM'i: Ii Wl 1
CHARLES CHAPLIN
nii: Kin"
STRAND ,,ni,MVmVA!:..
I I II III Mil I !".
"FORBIDDEN FRUIT"
Fay's Knickerbocker r, oSi1
I ALlfJt JUYCt
"yM l0",, N MA.STKR"
FAIRMOUNT "l" 'll,'r,
Douglas MacLean & Dorit May
"nu. RtiiitiiK's iirrri'nv
56TH ST T'-TI'.K I'elow Spruce
JJ III Jl, NlaTIN'tlV 1M,T
CHARLES CHAPLIN
Tin: hiii"
FRANKFORD 17,s ZS&sifS
CHARLES CHAPLIN '
riu; hid"
Ge r ma n t o v n &5 Vi a'iv'ep' BTiiV
' U,, PAIXPI ' ' "frUIVrl,LT
"ISOBEL"
IMPERIAL SB N.Si
WILLIAM FARNUM,T
"IP I MKIIK. KIMI"
l"xl.MSVu!.hi". .
I ILV .i. .CO.".!""- "".T
"THE PENALTY"
JEFFERSON
ATTRACTIONS AT THE
NEIGHBORHOOD THEATRES
LI BERTY """Vi'ntio'aV
WILLIAM S. HART
i'iik ri:TiN(i iii.ock"
MANHEIM "KtMANTOWN AVbT
1V1AIM-1L.IIV1( at MANiiKia 8T
"PASSION"
pemnark Con ,N'n n 1'arine 3. wlrWa Snncr
el A Ss 0 334 Stiel I 7s
1 ns1. No n 1'Hrin.p i 2 mi..
I t')i, I 7ft ' llsun C. o
1 II84 3 . 8(1
Tha 3eragn pr ce of menu Hriiie indus
trial stocks Irillnrd 0 2H pel nt on Satui
day to 7T.lt, ti,l lent railroads gaino-l
0,18 pr ent to 71 08
UI 1DV NlAHhBT ST HPl.uW 7 ri
KUIJ T 111 A M ti. II 15 I
PRIM, 11.110
"COLORADO"
M
APOI I d .''-I' i rilnMI'Mi'.N s"l
rrJLLKJ mi'im:i: in 11 v
"MIDSUMMER MADNESS"
A'nTOR PIlAMvItIN 4 'illUI'.O AIR
aao 1 v-r Ari'i inkk i vn.i
I ON I II NP.1
"THE PENALTY"
CAVOV 13n SIMtKUT hl'RUBT
OrtVUI h s M TO MIDSKIH I'
THOMAS MEIGHAN
'"lHK I'lttlNTIKIt OP HIP. STIRS"
AT WEST CHESTER ""
RIAl TO moM.is iikkiiiin
'""u'u 'PttoMiKit op tiii: sriRs
IDLE HOUR vt ami 1 it.vwi.Ki
IUUL "-"- IN"'O0n TOR StAMMI,'
AURORA -,,:,2 'IKBMANIUHN V
r-vjr,vyr- mxtinpi: i.tii y
P.I.XINP. HXMMKRK1PIN
"THE DAUGHTER PAYS'
BENN ",m
VI I 1 lu. I 1.1 Ik ,
Koicoe (Fatty) Arbuckle
"TIIK I. IIP. OP TUP. I'lllTl"
BLUEBIRD ".""," ri'iiir,?",",
WALLACE REID
"Tim C'll.XRM S( 11(101.
MODEL 4JS. s"l"' T OrchsstrZ
IV1VU1-I- c. nun. 1011. from 1 to It
HOPE HAMPTON
"Mil. IIUT" 'HIIIITIMI PATK" No, )
OVERBROOK -jjgromJ
WALLACE REID
niiM hxhm srnooi."
I PARK 'lir)flh: X B A DAUPHIN ST.
! MARY PICKFORD
" MIP. I OXK I.I11IIT"
5,KU TOMMIXK"ATURD
"iup. 110x11 hi'.miin' iiih pir.Hv np
WmT PENN7'"' 't.r ,v7
CHARLES RAY
"I'KACKI'l I. X.ll.l.KY"
i
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