frUrtji' J4nTii
l Jv v Cj fdi .iA-r. ' if n-ii w. i a
W' "fSU
V ' "
s
y
k-i -'
's7.1
y w
V
EVENING PUBLIC LEDGER PHILADELPHIA, THUKSD'A ; APJR1L 21, .,1921
18
Service and Stability
The Cheerful
Atmosphere
of our bank will con
vince you that the ten
dering ofcfllcient irfr ice
is a real pleasure to our
force. '
AVe jiarticulaily solicit
comm u tcial accounts;
and in uddition to the
usual bankinp accommo
dation, we offer you the
varied and complete
service possible to secure
in a modern Trust Com
pany. Integrity
Trust Company
Fourth and Green Streets
Fv 1 A R K
EI LIFELESS
AND
CONFLICTING
NEW YORK STOCK EXCHANGE TRANSACTIONS
Capital
Svrplut eft Profit
$500,000
$1,760,000
Wc Own and Offer ti
Local Industrial
security the First Mort
gage 6ri Bonds of a
well-known and highly
regarded Philadelphia
company whose business
was founded over fifty
years ago.
The issue originally
sold at par. but the price
now is so far below that
on account of present
market conditions the
yield is almost 8".
Furthermore, it is tax ex
empt in Pennsylvania.
Aii( for DdaiU
Frederick Peirce
IUIM JK f INtKhT
FOR IX. VU. MKNT
1421 Chestnut Street, Philadelphia
Sat' tii esclnp- cj Merely u matter of
knowing u'ine to lv yoi- tynxda
A Choice of
118
Bonds and Notes
Our new circular of invest
ment suggestions gives tlio
rate, maturity and' yield of i
municipal, 20 railroads, 15 pub
li. utility and 12 industrial
bonds; also 22 short-tune
notes, 12 foreign bonds, exter
nal issue, and 15 foreign bonds,
internal issue.
Many of the securities listed
are legal investments for sav
ings banks in various states.
Yields vary from inr to over
Ifumpltii'Piitmy copy tent mi
retnest 'or Circular L 9
A. B. Leach & Co., Inc.
Investment Securities
115 South Fourth St.
W
To Net
8lA
Maturities 1922-28
Serial 7ci Gold Notes of a
pulp and paper company whose
output for 10 yeai- is sold on
an assured profit bas.s. No
bonds, notes followed by divi
dend pajing preferred and
common ntock.
Earnings foi 1921 .-hould show
note interpst 6'i tinier earned.
Send for circular D-4S
Baker, Ayling & Young
JOSnril w MVUN, Jr.. Man-ir
Lund "Ciiln Bldg.
Button Philadelphia
Easier Money Rates Fail to J
Arouse- Interest Curious j
Mixture of News j
Vw orl.. April -'1 t'olllrtliiK ilc
"'onniMii iiiad'- i "iitln line prire
mod iiu-nt hi todn iiiik market Fur
niMniK Dolawnre, r.inkiiuntij mid
Wrwtprn in ml out 34 ininti mi the
niiiiouiireiinnl tlmt Hip luiiTitiilc t'nni
iiiiti!' Cominiimi Iiml mitlionu-il u
M.VdlHUMMl tork ilmricnd On the
other lininl tln Mtvl group mill nihil
ult'il lmi"'4 wen- ndvcii'l uffpi'tPil hy
tlio jKHr iiinrti'rl "tatpniont lfiii'iljli,r
III'- tt'-pulilli- Iron and Strrl Co.. ami
tlio .uapcnsmn hi' illMilcmN In the H F
(iiinilrii-li ilin-iii'M n n wet blnnkct
mi 'mi nitilii'i- ntnl tiif imip
Altogether th- iln'n inark'-i pie-i-nieil
111 tit- in fin- na nf niui-lty.
The roiipi-iiI lini" uf prcueilure followed
ilosih lo trK- program nf tin prei eiling
"siun-t. mid npiii-l from tlm limit t-rt
imnibvr of apci lalinil movements', the
trailing mix nbohiti'l) rolmleoH mid
11-il'x.i A iniipunl rutp of ft t2 ppr cpnt
for i-nli hums uilli nil iiidinition" of u
l-pihii-lion to tt ppr cimt before tlir d.iv
t was out fuilpil to nroiise tin- iiinrket
from its letlmrgj although ihere nei-e
h 11 Miilleatiiuix of n inui-li freer tipl
"f ili'iiimiil loan fiimN
Tlio ninrp striking feature of tlio re--trli
t'-d operations vn pic-cnted in 'he
, '-vulpiit iiiiwillitignpsK of the bearish
j i ontingi'iit to iiml;- active rupltnl out.
i of fh" udvprup new und ipploiiiientH
Tlu- sti(tKi"'ted a luclu-nl iliaiiRe of tem
per anions tlip irotevinnaN ni hereto
fore tii" tem-tionnr pnrt ".I'lJied upon
ever i little hit ,If bud iiewH to liainmer
. tin- h-t iiml -tnvt it general m-IIIuk move-
I inent
Witn tilt- apparent restraint upon the
part of that portion of the trading ele
men' bent upon pulilne prices down
ward and with n similar re'iiutnin-e mi
the part of ntlieis to ustiine nti nsure
ie po-itiou on the i'onstrietii side,
the tnnrket uuie nearer reaelungu mm
plete -tntiit-ti'l than nt inn time during
the i iirn'iit year In other nurds, the
onte-tmg eli mint appeared to be per-
, feitlj .atistieil to taiiil Idlv on the
sidi lines and Vt matters take their own
cuiir-r
' A hnlf-heaited effort was made io
continue the otir.ietivi- movement in
the oil group, b.il a-ide from the low-
' prii ed in-u"., -in li as CosiIph. I'tiion
ii ml Wlii'ii Oil. ii n' a- I'hillipw IV-
tpneuin. the movement wns colispi. u-
"ii-lv lint Wt li ti iL.-eptiou of
l.ili'knwnmin. il.e i.in- show-d little1
-upport The steel and -iiuiptiieiits as '
well a the Miirur -nines, were di
tinetb heav (-tudebakei was nbont
the ,ml one of !h" motor division to i
reeive nm gum nmoiiut of attention
OtiM nre issues, Mn h us Amerii-nu Ie.
N'ntional llim-uit and Adams Express,
mede subhtantiul gains eontrnstiug ,
with which weie declines of 2 to nearly i
four po.nts in lewel! Tea und 1". S. !
Food Products.
STORAGE BATTERY !
MAKES U XEIf TOP
Vartwd Improvenwnl in Com-
pany'i, Business Gives Buying '
Movement Fresh Impetus '
F.lei inc Storage ISauei repeating
tin- performance uf the pi e piling hes
sious made a new top prim for the year
advancing to 11!!'; This further' re -I
bound wan to be etpeetcd after the optimistic-
remarks given at the annual
meeting yesterdin eoni-eruing the
marked improvement which the com- I
puny h business i showing
About the onlv notenorth) feature
was tiP continued firmness of'PenntjI
vinin Huilrond stock, whiih had good
' effect senthjenta!! . Although tlie deal
mgs in the other local Hhares remained
limited, the general lint ictaiiieil n
'trong tone Fv options weie found in
i( me ot the underlvitu i oiniiaiiies of the
I'hiladclph.a Rapid Tranit Co . which
lowed heaviness n u result of the re
ported efforts to for; the Millm lull
oil of tlii . omiilittre I'lilladelplnn
Rapid Transit on in, all deahiigs im
proied lrai tic n j 1 1
Philadelphia Klectrn- i-uts were bet-
1 t r sustained, but 1 nited (Jnx Improe
ment fell back to o.'! on moderate pres.
sure In the miscellatusius list there
mis no spi'i-ml feature ot interest I'rues
, wtrp uinsth inehungi'd Furthei mod
erate nfferingi of Cambn.i lion weie
nk'-n nt .'!."
4An
too
inn
.110
coo
30
1 IAD
iio
ion
i an
ion
ICO
too
I JO
.100
'.'00
too
IIM
1.500
too
700
-.00
110
nan
isoo
1400
MOD
too
son
sou
man
too
160ft
I .ion
100
2:00
400
700
I Oil
57im
300
.113
I Oil
too
too
ion
100
1100
ion
loon
HO II
con
700
1100
1700
inn
1 no
700
ton
ion
tun
.too
400
too
ton
too
1000
700
100
11700
700
100
400
100
no 00
100
000
J s0) 1
"!0ft
.ton
400
too
100
3700
0
Hill
too
too
J030
100
ion
ntoo
.01
300
2100
1011
10:1
too
3400
J10
300
J Oil
I Oil
4Cl(l
ton
100
too
4 on
70(1
300
100
too
Uiv
In 5
7
10
lllnh
Adams K.xpress 3JU
Advance Ilutnely pf 30
Alax Rubber . . 3JIJ
Alaska Uold Mines...' t
Allied Oiom & Dve . 42
Allls-ChalmerH . ... 37 H
Am D Shoe Kd- new . , 4Rh
Am Can . -J
V rn c.ir & FUy . . . I'Jt'fc
Am chlc.c . . TI
Atp Hide A leather . Ma
m Hide. A leather pf 4?4
Am Ice St
Am Ice pf .... tV3
Am Internal Corp .. kV't
Am-L.i France Eng -t
Am Llnneed . . 43
Am Looomotiv .... 85
Am Safety Rator 3j$
Am Ship & Com 7?
Am Smelt & Ref ... 40
Am Smelt & Ref pf . . 77 H
Am Steel Foundries.. SJ
Am Sugar Ref .... 8j;
Am Sumatra 73i-4
Am Tel A Tel )(00U
Am Woolen t ... 73
Am Woolen pf K
Anaconda Copper , .ift
Atch Top & Santa Ve. 80
Atl Gulf & W I S S . MH
Atl Gulf W 1 8 S pf 81J4
Atlantic l'et . 18ft
Auto Sales Corp 3ft
Auto Sales Corp pf . to ft
naldwln Locomotive 85H
Baltimore ft Ohio . . SSft
Baltimore & Ohio pf . 4H4
Bethlehem Steel . 33
Bethlehem Steel II 4J
Bethlehem Steel 7
Bethlehem Steel 8 vfluSK
Brklm Union Gas . . 60
Bruna Term . , 4ft
BurnB Bros 87Ji
Butte Copper & Ztno.. 4J
Butte & Superior Cop 1l'
Caddo Central O & It. IH)i
California Packing . . H
California Petroleum . tt
Cal Zinc & Lead . . 3
Canadian Pacific 10ft
Central Leather ... 84
"en Leather p 73
Chandler Motors .. . . 80 H
Chicago A Alton 6
Chi ft K III Kq T ctfu.
rhi & U in pf ctfe. S
Chicago & Oreat West 7 ft
Chicago Mil ft St P . . 7t!
Chid go Mil ft St P pf 38
Chicago- .N'orthweatem 01
Chi R I ft Pao
in
7 Chi R I & Pac 7- pf. 70ft
IIH
33
?
34
61 H
ft
43
40
83 ft
18
37
Ift
7 Hi
78JV
11 ft
18.
3IB
a.
Chile Coppel
Chino Copper
Coca-Cola
Col 4 Southern .. ..
6 Cotum Gas ft Elec
Col Qraphophone .
Col Graphophone pf
7 Consolidated Cigar
7 Consolidated Gnu
Consolidated Textllee
6u Cosden ft Co
Continental candy
4 Corn Products Ref. . .
a Crucible Stee! .
4 Cuban Amir Sugar...
Cuban Cane Sugar
10 Del Lack & WeBtern ,
Penver & Rio Grande,
Denver ft P.lo Gr pf .' t'
1 Dome .Mince . . . 1
10 K.istinan Kodak 683
Ulk Horn Coal . . 19
i:ndicott-Johnson . . eoj,
Krle 13i
s Famous Players L . 73ft
Famous Players U pf 88
Gaston Wmo & Wig.. IH
General Asphalt .. 64 ft
General Cigar . . 30
h General Clcctrlc . . . 130
1 General Motors s . 13
8 Gen Motors dtb 6 . 07
7 Gen Motors deb 7 " . 77
Ollltland Oil pf. .83
Goodrich B F. . .36
7 Great Northern pf 68 "j
Hendee ctfs . . 73 .
I Hupp Motor Car . 14
611 Indian Refining . 11 '-a
. . Inspiration Con Cop . 34
Interb Con Corp . 4 ft
Inter Con Corp pf 17
7 Int Harvester new S8'4
lnt Mer Marine . . 13ft
Int Mer Marine pf . . 30j
Inteniat Motortruck . 3
7 Int Motortruck 2d pf. tl
International Nickel 14ft
t.ow
31
30
33 ft
I
43 ft
S7't
48ft
38J.
HI ?i
71
8!a
47 ft
34
63 H
47
' 11
43
ot
H
IX
SIM
"ft
3ft
87
71H
106
11
6J
:7?,
"ft
33 U
lift
, 17H
' ' 3ft
10 ft
84ft
33H
48
&3
34
Oft
103 ft
60
4ft
87 4
13ft
36
411 -
4Jt
109ft
34
73ft
7
6
H
7ft
34 ft
37 ft
01
-'Sft
70 ft
OH
33
37 ft
34
Vtft
8ft
43
40
83
IS
33ft
Ift
71ft
70H
33 ft
189,
3151,
?t
I'.
'-ON
CSS
to
t)0ft
lift
7f4
ss
Ift
7 ft
30
IM!,
17ft
67
77
87
33 ft
Btlft
V3
14
"Ift
:i:s
ft
17
h8ft
13 ft
30
34ft
61 it
Ult
1 80 Net
cms- c-tiue
37 ft 1
30
33",
I
43 ft
37 ft r
-
8ft-l
43 ft
T
8ft
43 ft -I
11
43
S3
3ft .
3
ft
t
73 -100ft
f
71ft
! :im
78ft
34ft -31K-I8fti
3ft -t-I0ft4
83ft
33ft 4
48
33 f
34 ft -00
-
103ft
60 4ft -
874
K
. I3ft4-
1854 4
!
46 ft-
.1
108ft r
31
77ft
80ft-t
6
Si
ft 5ft
74 it -37ft
61 -
254-
70ft
lift-'
73 e
1J4
ii
1ft
!
ft
H
U
ift
X
1
niv
Palm In I
800
2800
3100
4300
300
3100
too 4
300 4
too .,
800 '..
1300
1600
700
100
100
300
1000O
800
6100 1 60
200
100
2100
300
700
700
1000
100
100
1700
300
300
l
fti
l
1
ft
1
3ft
ft
tt
s:
ft
14
ft
14
Ift
tk
Ift
ft
.40
77 ? ft ft
31 - ft
H-, ft
8 - ft
13 3
40 ft
S3 - ft
18 ft
37 - 3f4
I
71ft
70ft- 2ft
3ift
18ft- ft
219 -14
ft - ft
Ift .. 1,
21 ft
683 7
18
00 ft
12ft r '.
73
88 S. i,
I ) '- ft
2!i- ift
30
133ft- 1
13
7
77 - ft
S3 ft
20 - ft
8ft
33 - I
It
lift
33?t - ft
4ft ft
12
VJU ! ft
13ft- ft
30ft- ft
34ft- ft
61 ft Jt
14ft ft
3100 2 30
100 .
100 1
300 7
3100
300
100
'3000
1300
300
1100
2000
400
400
300
2300
2100
600
100
1300
200
1011
300
43011
300
300
300 4
200
3000 A
7100 3.30
400
300
100
300
300 ..
300
100 .73
20300 .
800 4
600
300
600
000
100
3(100
1700
4 9 Oil
t 070"
400
4500
100
7800
3100
4011
3011
400
100
230
300
3700
600
330
2100
3300
M21
300
200
ion
100
600
6011
200
200
100
300
100
1011
6300
800
lllfh Low
International Paper . l4 38
Invincible Oil Corp . 31 74ft
Island Oil '4ft --ft
,Mvel Tea . ..a... ft 8ft
.1ewel Tea pf ... ., 34ft 34ft
Kansas City Southern 36 23ft
Kansas City So pf. . ,. 4ft 41ft
Kelly-SprlngRcId Tire. 40 si
Keruaecott Copper ... 20 30
Keystone T ft R 13 I4?4
Lackawanna Steel ... 4nft 48
Loew'e Co 18ft , 18U
Loft Candy . .... lift lift
Loose-Wiles Biscuit . . 37ft 37ft
MackayCos 63 63
Manhattan Kiev guar. 44ft 44 ,
Mexican Petroleum ..143ft 143,
Miami Copper 21"ft 76 ft
Middle States Corp... lift 14ft
Mldvaln Steel . .lift 37 ft
Minn A St Louis... . 10ft 10ft
Mo Kansas ft. Texas. . 9 3
Mo Kansas & Tex pf. 4ft 4ft
Missouri Pacldo . . . llji 17 ft
Montgomery Ward . . IS 18
National Biscuit ..lit llift
Nat Cloak ft Suit pf . lift ' 71 ft
National Con ft Cable Ift IH
Nat Knam ft Stamp. . . 61ft 60ft
National' Lead ..).... 71ft 71ft
New York Central. .. . 68 07ft
New York Dock . ... f ft 38
New York N II ft II 4. 10ft lft
New York Ont & W .. 17ft 17ft
Northern Pacific 71ft 11
Okta Prod & Ref ... .Ift Sft
Ontario Silver Mining 4ft 4ft
Otis Clevator . .,...133 113
Pacific Oil s37ft 3 ft
Pan-Amor Petrol ...f 71ft 70ft
Pan-Amer B 68 63
Penn Seaboard Steel. . 1A; 10ft
Pennsylvania R R.. . , 33ft 34 ft
Peoples Gas Chicago. 4) 46ft
Pern Marquotte 16ft 1 r !i
Philadelphia Co 31ft 31t
Phillips Pet 38ft 38
Plerce-Arrow Motor.. 3s ft :3
Pierce Oil lift "'
Pierce Oil pf 72 72
Pitts Coal.. 60ft 3 ft
Pond Creek Coal ,... 14ft 14ft
Pressed Stcol Car,,,. 83 83
Pullman 103 103
Pure Oil 35ft 33ft
Rwy Steel Spring pf.. 88ft 881
Ray Con Copper 13 13
Reading 7ft 63.ft
Replo Stoel 35 35
Republlo Iron ft Steel. Stft 58ft
Royal Dutch N. Y. . . . . 01ft 01ft
St Louis San Fran.... 31 Mi0H
St Louis San Fran pf. 38 38
St Louis Southwest. . . 26M. 2H
Santa cecolla Sugar. . 2ft 3ft
Saxon Motor 5 4i
Seneca Cop Corp 15?s 15ft
Shell Transport 43ft 43ft
Sinclair Oil 2Jft 34ft
Southern Pacific . ... 74ft 73ft
Southern Rail .... 31ft 70ft
Southern Rail p . .-, 4Jft 53
Standard Oil of N J. . 153 130
Stand Oil of N J pf . . 107ft 17
Stewart Warner Sp. . . 37 ft 27ft
Studebaker SOJi 784
Superior OH Corp ..8 8ft
Texan Co 43ft
Texas Co rts 2ft 3
Texas ft Pacific 20K 20ft
Texas & Pao C A O . . . 28K 37 ft
Tobacco Products .... 48 40
Trans Cont Oil 13ft 13ft
Union Oil 33ft 31
Union Pacific U3ft 115ft
United Drug 06 80
United Fruit 107 100$,
United Rwy Invest '. 10ft 10ft
United Retail Stores. . 48J4 48?
PSriPi Fdy . 17ft 17ft
U S Food Products... 30ft 18
U S Ind Alcohol 67ft
L" S Realty ft Imp .. 48ft 48ft
t 9 Rubbei 68M ft
V S Steel 81ft 81
U S Steel pf 110 110
Utah Copper 31ft 31ft
Utah Sec 10ft 10
Vanndlupi Corp . . . 28ft 28M
Va-Carofina Chem ... 28K 39ft
Vlvaudou Inc .. .-6ft 6ft
Wabash . . 7ft 7ft
Wells Fargo Kxpress. 0ft 00
Western Maryland . . , 8ft
Western Pacific pf 63 65
Western Union Tel ..88 88
Westlnghouse F. ft M . 47ft 47ft
Wheeling ALE .... 8ft 8ft
White Oil Corp .... 17 16ft
WIIIs-Overland 8 7ft
I
1 30 Nl
Clous Chl.
fiH- ft
21 V 14
4ft V
Rft- 1ft
34ft- 7
35ft -I-
49ft H
40 - "t
30 -r Vt
48
18ft - ft
lift -- '
37 ft 4 I
63
44 m
lllft W
31
14 X- V
37 ft
10H
3
4ft"
1114
18 -ll
lift
1H
!' ilft-
1T4-
Neti) York Curb'
S0ft 3
H
ft
ten-
17K
71 -
3H
4ft
133.
8M-
71
63 4
10ft 33
47 -11ft-31
Jl -28
ft-!
33 ft J-
73
60ft 4
14 ft .
85
103
35 .
9Sft- 3ft
1K
117 ft
33
38J, -
lft-
20Ji-
78
2634 -
3ft -
5
I3K4-
43 ft
75 ft--74
IJOJt-107ft-
IJft-f
ft
ii
ft
ft
Jt
ft
' 1 ft
ft
H
ft
ft
ift
'2
ft
ft
3ft
Ji
H
't
ft
4
4ft
S0ft 3
0 -1-
13ft
2 -70ft
28 -49
13ft ft
31 ft 4- l"t
H5ft- ft
96 1 ft
107 f
18ft
67 ft -f
49ft -68ft
-81
-
110 f
--28ft-2834
Oft-
7ft
6ftf 1
ft
63 -S8
-47ft
.
ft-
8 I
ft
'
V,
ft
IH
ft
y
ft
!4
"t
A
M
H
'ft
ft
tt
Philadelphia Stocks
Commodity Markets
Investigated Securities
Neu and Old Seasoned Bonds
Tax Free and partially so
Short Term andLons Maturities
yielding from 5 to 8.50rc
State your requirements and ask
us lor a list of suggestions
Reed A. Morgan & Co.
fm r i I I' ' nini PiiIu
I- 11 - i
Kisn l.cn
Mi Alii Insiir 17 17
" Am Strs. 54'-.. !j4
r. Am Gas ,-,8 '
.'TRiild I.oco
pref . 101
I HI Cam Iron K5
H14 IClecStor ll.'l" j MIL.
j:J. I Co X A -JU 2'
.",;, Pa Cent
Light pf VI -4
1 Pa II It . .'io11,
-HI Philn Ins
Wire ..! ft
SI Phila Kle,- -.'Mi
'Vi do prer . "Jd
41 do war t
I" Plulu II T 17',
11 PhilaTrtn :.Ji..
."'."II 1 ii Till'- Jlii'o
.'.in i ; i i:i i r
' ii .. rr I l. rr,Tip--
m i j w Y ir ,so Kichnniri
rllll.VHKI.1'111 V 1UI.NI'
1 Km l.ibertv Jd l'ti.
1000 I.ibertv L'd Jfts
10CH) I.ibertv .'id l',s
l 1.'.
p in
17
.-4':
clllTtt
100
.r,
.-.i4
L'l-
17',
.ii:
::o i ,
JIHMI I.ibertv
1MHI r.'bertv
7J."(i I.ibertv
1th l,
1th l,s
1th -IftH
u-v.Nitms
Dealers in
Investment Securities
iftmttrt New Yurlt und PM'.aittlia
StvCK htchunni
321 Cheitnut St., Philadelphia
100 A:ner Has & Klectrn-
lois) Hell Telephone 7s
lOtsm Kleitrn- e- People s Is
",ih I'ennsjlvaina IIVs
juOO Peniisvlvanta tl' .s
llMl Phila r.leetru- ft ..
I low Phila Kleifri. Ut ."j
:(iioii I'tnted KailwavK ."'
100
.1:,
m-j
;-,.'. 's
ii1,
ji
2r,
IT', - I,
n-j j
no '..
r. m -i 4flt
S7 40
S7 .'10
no. no
r-' 44
S7 42
s7 IS
71
.'.II
ml
!Ci3.
1 1. 1
M
117
Bank of England Statement
GRAIN MARKET
Chicago. April 21 The wheat mar
ket was generally quiet, but support
was needed and failed at tunes. It was
moie than evident thnt oine of the lo
cals were trying to get out of long
v heat ncvminilnted recently mid thiit
pressure was too much KxporteM
failed to follow the advance, while
weather wins generally la vot able. A
few i roji complaints weie received, but
the.v were unimportant.
Reieiptsat primary liuiikeU. are hold
ing up. hut tliev are well above a i-ur
ago The domestic shipping demand is
-low vvi'h sUes of ."ilKlo bushels re
ported The ioru ui.-iikei wns under pressure
fiom the start With the elimination of
the short interest yesterday the market
locked proper support Ini-reased coun
try offerings und the lessened export de
mand were factors which induced piollt
tnkiu,;. The cash i orn basis was nn
i hanged Shipping sales were 00.000
bushels Exporters took 100.000 bush
el,. Uatb were weaker with coin. Coun
try houses sold while local bulls
bought. The cash premium was V4e
easier Shipping i-ulcs were 20.000
btiihels
COTTON MARKET
New Vorh. Api'l 21. Without being
a- tive, the cotton market opened atendy
this morning, unchanged to 3 points
lusher Cubles were somewhut better
than had been due and Wall street,
lotmnisslon ho.ises nnd room snorts
bought modeiatel.v in die "tart. The
selling vvoh principally for the South,
Japanese nnd hedging interests. Up to
10 15 o clock tlie undertone remained
bteadv with prices 2 to 4 points net
highei late months showing the most
firmness ,
Receipt of Mitton at the ports tor the
dnt are estimated ni 13,000 bnlea,
ngali.si 1 1 Kill bales a week ago, 21.5.17
bales a vcai ago and 12,735 bales two
years ago.
v
Julv
UCloliei
Iiecoinber
Jtnaar
- ul
II 0
li.Z 13 It)
13 93
10 7U
Olieli
11 lit.
l.flb
13 12
13 S4
18 72
11 30
i m
11 00
12 m
13 IIS
Pcnn Pub. Serv 5s, 6s, 7 J-is
Caddo Cen. Oil & Ref. 6s. "930
Luzerne Co. Gas & El 5s. 1948
Sun Compnny us & 7s
Winch. Rep. Arms 7l2s, 1941
Packard Motor Co. 8s, 1931
MCowii&Ca
' LAND TITLE BUILDING,
PHILADELPHIA, PA.
JlcniUftf 1'hlUdelpbls Stock JCicliang
liikUon. pril .1 1 hft weslv a'finvnt
( ihft lUiii rtt Urn nn! wlicws the fi.lluw In
h. i.sm ! tal rt-i'r -r,'r-aMl i-.'Vs ono
- .rculAtlo- 'stmii I 1SI11 0CI0 Uullli.n de.
riRHcl .S-.'i Mhel " jrl'lffi ili.i'rSisl ,', .
HOT OfiO. Othe- ilollii ilrrrrnrnl (J (1x5 ntlll,
UJI. I. Ii'liiisl X Tiras. I tt'O,' 000 noie I
n-r niriMRi.il ijlll isio rf.Arnir.Mn' toturl
i M ilii-re.fi1 (337. (mo Th j.r nmrl'mi if
up bin' i-f-rv li !tHOlllti 'I,1n ,,. H
II r,l per i or inn' V. v wsa Id 7s IU'
it icouii' 7 rr rent
Liverpool Cotton
I lirrjXKii. Aorl. 31 Only i fa i lusin,
' i it i.e in toot cotton todsv wuh prlff m
-i ,(v un the ti.tsls of sn aihsnce of 0
pilnt, fur mldin.nu at 7 3"rt rhs al.H
v.p fiOOO balet The rscelpu i noon
i. ales nne Amerlmn 1-Siturev r iuiet
In th" o'l ilalltiK Spot prl a sine
Airitri'-an. muldlliiiC fan. lo.UJii jood mld
. tiifc s 571 fully mMdlln 03d m'ddiliiu
T 'I7rt low mlddllnir n S2d ood ordinary,
fiT'l ana oroinary i o.'i
Paris Bourae Steady
I I'arli, Apri. i Prlien vfr ttetuy on ths
Iimuras today Tbre pr efnt ren e fi7f
10c Kxchanie oir fnndfm S3f V9o Klvt ptr
rrnt Inan 83f 05c Tha dol'at ra quoted at
13f 76c .
LIVE8TOCK QUOTATIONS
( hlruicu. Apill Jl C-A'ITI-n neceipti-
lj 000 Heef atorra and butcher aloe k alow
ienerallv ateadv etcora 7 608 BU. HiulK
bjt"r ahJ utock 13 50J7.BO, bulla atrong
o SO? hUhVr bulk IJ.Bud8.00 calves
lower bulk ; , to pucKera T atockera and
'""HCXlK-KVeelMs 10 000 hwd itolitU25r
io 50c lor than leitfiday a i aii.fm
llahta'nnd Unlit ti-itrhera off more lop
early JH 00 bilk of aalpa 7 M9f 60. plK"
Boo to iWc lower bulk dealrRtitt) 00 lu 120
POSHBrP-n8pcMPt84lh.OU0 head !!
mbs moatlj atpailv otliera 25c lower sheep
s"eadi- Wooled Unib top early III) 6 "i"
II7BW10B0, slmrt.- top 110 bulk ItJSJf
J ltd choice Ifio-pi. il shorn ee il 3',
Kasl lluffalii N . Pnl SI I'Am.K
fteceipta 250 liea 1 aieady. lilm rj
.eiiita 7BO held Kitty cents lower 13012
HOOH llecelpta 3200 head Twenty-five
i, 75c hliiher Una- v ISBOiifO mlied nnd
jorki-1 IH 25, llliht yorkera, $0 2Sll BO
plK i 10 50 rouaba Jft737 staica 11 BO
"hHBKI' AND UAMIIH llecalpta 1400
lead aieady Wool lambs i7'012jn,
clipped lambf IBifll 25 yearllnicH 1 7 07 1
wothr 17 25W7 BO ewea 2'8i)7B mixed
heep I8 73U7
I'lttiburah, April Jl IIOQH Hecelpta.
4BOO head Ixwer. Ile,iea IHWH 25,
heavy, ltuht yorkera and pla lOSl' 33
aifiCKP AND LAMBH Ilece nta 800 h
Hlrher Top aheep, 17 23 top lamba U
nAi.VKB TtectlPti 20ti head
TO,II1,00.
LONDON STOCK MARKET
Securities Quiet and Without Fea
ture Profit-Taking In Oils
Ixmdon. April 21 - Then' wns piol.it
taking In the oil croup on the stock ex
change lodnj . Shell Transport and
Trading was 5'.. nnd Mexican Eagle
03-10. Industrials were 'irregular
Hudson's Ha.v was IM,. The fiilt-edged
list was firm in spots, notwithstanding ,
the m.iititniriHiue of the Bunk of Kng-
land's rate of discount ut 7 per cent, i
l'resii iidvanees were noted in l'lt-nc-h
loans on continued hopes of favorable !
developments m rhe Oerman lepaintinns '
mutter Uussinii descriptions were ir
irgiilar owing to an Impending law
suit test over Bolshevik gold. There uns i
investinei.i billing of South Amcricun
lonn.s
Home mils displaved gieater stabil
ity because of a nlizht improvement in
the 1011I labor oiilloolc Dollar deserip
lions were dull Argentine and Men-ii-nn
rails were inclined to droop. The
shares of Sourfi American roads were
firm.
Generally, rhe trading was quiet nud
without feature.
Financial Briefs
BANK CLEARINGS
Mar . . .r-.i,'s today tomVarcd nun cor
teapoi iiu.t, tv jaat two oirs
ln.'l 1020 1(110
rh '. ti.,1 snii.B-.j8 i(io,040,ii9 teii 577,211
IJoato -'3 713.370 HO, 2411.343 Bl.OfllliOS
N. Vr Hd7 1101 833 niD,Bl)l.(t41 707.1)40, SS0
MONEY-LENDING RATES
N"l AtinK Mnnev on call, hoth c.llita
nf c. serJt opened tMav o OS pcr cent
fit 'iid.rit and renewing
rillKXDKI.I'HIA Call, 0 per oeni time
0 per cent rommrrclal paper ihrea to atx
months tl r rjmt
Noto -rhen nr merely nominal Quota'
none in- ..ai rnte. of Interest in tna etaia
of I'eniiBylvanla lielnir fixed ut l per cent.
Plue premium and commlsalun lime' money.
tut thirty 'o ninety dayi, la loaned at 8 to
8H per rem wiille commercial paper from
thnt) 10 n.nety daa la loaned ut S to S4
per cc-nt
DIVIDENDS DECLARED
I it llnl. 'luartetlv of H p.ir 1 em on
prefeued paablv Stay 2 to atock of record
April Hi
Itedlr.s Co ijuarUrlv of 1 per cent on
Aral preferred, parable June ft to atoeu of
record May 24
American Hallway Uxpreas Co dnidende
of 12 a ahare for laat four months nf 1020
ami tl SO it aham for first quarter of thin
year
Cllrard A enue Tl"! and Tmat c:o eml
annual ut ) per cent, payable JUs 2 to
atock of rerord April 20
Central National Hank, quarterly 0 pi r
cent payable April 30. to atock nuldera of
rte-onl April 23
N'ntional Lead Co quarterly 14 i-i eat
on preferred pas able Jurn 1B lu sioin uf
record la 20
1
Little Change In Raw Sugar
New tork April 21 The raw augar iiiar
le h- lima rtniniiB. The demand is e
nely l-Kht and offerlnsa nre r.iti.-r fie
11 -h. liaHia .f fl 04c. dull psld Th. r., w re
1 s i.k ,in Wedneaduv tu t'nlted status re
Pi in b - a lot of 1300 tuna uf ubiui weie
U a 'I Cuban auiiar flnanre e.niinluee
fot a Ktiupean deatnation at 4 35c f 0
b Cuba Importations Included lb. OOO
Ukh t'uoai and 111 OoO i.us llawailana to
the National HuKKr nc-ftnluu In, lo IHiO liaaa
P. run 1 tie- American Huicar Hennuia Co
lo DfiO t.aita Perns to thu Tederal Hutiar Ue
flnlnv 1 11 'U.000 Iiski Han DnmloKos to Hie
W.irner Hua-tit Hetlnlric Co 'and 0000 bBa
Haillana and 7000 bava llraxlls onnalaned to
ai in uiirn r The local r(lned market 1
unchanged lith on to condition and prlcoe,
Real Estate Trust Increases Dividend
The Heal Kalata Truat Co. haa declared a
semiannual dividend of 8 par cent on In
preferred aUick payable May 2 to stock ot
record April 21 Thle la an Incraas ot 1 per
cent oier the temlannual rate previously
paid
rhe average prlca of twenty active in
2!,,,tMl "oc1" declined O.02 per cent, to
7C, os while tbe twenty railroads declined
0 OH per cent, to 60.27
.
The Hank of Knuland minimum raie of
uiacount remains unchanged at 7 per cent
11 J!i.t,.'"su1 "POft of tlie Illinois Cemral
llRllroad Co for last year shows net or
?.Hi" J,nco.,?S .?.".' chares and federal
i?.n," .of .JI0.-871'122 which was equlv
.L.ii,.f0.t!1?.41 on ,he capital stock, as
aealnst in. 13 a Bhare the preicdln sear.
,-M.hnr.1 " . Cans'f. President of Ihe Coca
01a Co declared yeaterdav- that there
?ioA.5y. 'nevcunoratlon In .ta, as was
..,', h ,,a'.,.b corporation had t.c.t an-
1 . jlouW d0 ,he resumption ot it dlvl
tlende was out of the question
i.io-'ii 'SiS-W c?mrC' emmlsaion ys.
teida m-anted authoritj to the Delawari
S4soooonon".,la """'" R"rS'l tsiusui
4D.OUO,poo par amount of common stock
nk'cyoprcoiirnd.'.-fu""-iS;
. 1.h5 Jam' of. William Weber hat been
W chLnr,,un '" 'RK.i?w!
siT.'!rv."lt?men of ,hB R'BJWie Iron and
enUSfy'.?entf o" tS8,.chirVhfiK":
th, 123.000 000 profer?.d ,to?5 ThT. n"
tiaeted w-lth a aurp u of IM77 817 eaSS"
after preferred dlvldenda, to 14 40 i ah.re
r?"'"? on the. common itik in th corr
epondlnir quarter of tbe pricedln,, jear
.k&Sf 5'alfe,!SS
s of
surplui of
'"Wi"? compared with :,"."
compared with
lb7S 008 in lh.BipEmUr.7J3o qu'2?.,r.
The Miami Copper Co has nmni 1,. -
pletlon and taxes nf II 414 iss c,!.'!n ,J-
detlclt of g" I'tioa' ,n. prl'o'u.' ",?.?" w,t"
Kor the quarter ended March 31 n,.i,i,
l"J and steel reports surplus after Pt
and chance, of 1104,011, iuil to jo i.i
earned cm tho 23.0.O0O preferred .?2i"
This compares with surplu, "f II -tVSTt'
equivalent after preferred I dividends . FiVln
j share on the llo.OOO.OOO common a L-t 1?
the correspondlnir quarter of 1020 i'?i
orders on hand March SI lftii v-nfllled
121 408 ton-n..""m?a3rJd with tW-W to
on December 31 i02 6,s tons
Aaihorllj for thn Delaivara 401,,.,..
and Western Ilallroad lo Issue a ainJiTViJ.
dend of .143,000,000 wa aranted hv ,s dl,vl"
Jrtl. vcommerce CommlKfon The r.n
aousht to asua the full amount 00 roaU
dub. about loonnoonn' .. "."i?' ?' . tB.ur
, . n Bm anidend
NEW YORK COFFEE MARKET
New Vork April 21 The local coffee
futures market opened at declines of
to .'1 iioints, with trading on tlie call
confined to a few lots in the May nnd
September positions.
'Hie official cnhlcs from Biazil showed
fairly steady conditions there. It tH be
coming evident that continued buyine bv
the government nan steadied the prlmarv
markets as well ns checked a govern
ment selling pressure here.
Business in coffee futures wor again
lifeless exeept for a continuation of
switching operations, mostlv Mnv to
the later months, ut 84 points for Hen
.ember and 1.12 points for December
Tlni continued heavy receipts nt Hontos
indicates that crop estimates will have
to be considerably revised.
Teet close Open
V, 7378 B.70e72
July 6,10017 A is Air
fieptember " 6 B8b7 S J5SJJ
December .. 704903 7 02j?05
Hliih low
lis! ,$
flii 0
ref ,. SO 80
.... . 1
:-:rg o4
1 1 . JlS Mu
INDUSTRIALS
Aarm Coal .
rrlt Amer Toll reu
Columbia Kmerad
Kinplre l'ood
Irrter nubber .
Chicago A East 111 pref
i-orreoiion lire
Itadlo Cum ,
nadlo Com uref
Southern C A I ,
sweets uo
V Ship .. .
IT H Sleam ..
t'nlted rroflt flho-rlns;
STANbARD'
Anitlo-Amer Oil .
Ohio Oil , . . . .
Htsnd Oil of lnd
Hlnnd Oil of N T . . .
INDETKNDKNT Oil,
Allied on ,..,: 11
notion Wyomlnx 07
cariD yna
Denny Oil
Klk Basin Pet
Dnalneers Petrol , .
Federal Oil
Oler.-rock Oil ..,,
Ouffey Cllllesple ..
Hudson Oil
lnt retro)
Maracalbo Oil
Merrltt OH
Mexico Oil ...
Noble
Omar Oil
I'roducer1 Refiners
Hlmms l'et
Nkelly Oil
Texon . . .
tin Toxas OH
United llovaltv
Victoria Oil new . , . .
Western States . . '
X Oil .
.MINIS (1
Alaska Ilr Columbia .
Atlanta I
Ariz silver . , . 35
Ilia- Ledge . ...',.
Ilooth 3
Iloaton Montana . . 02
Caledonia Mlnlnc . , . 11
Candelarla Mining . . 211
Corel Vlrzlnla 11U
Cortex Silver 73
treason uoia itV
Crescent MscNanmra ....
Dundee Arli I
Kmma silver a
Rureka. Croesus . ... 0s
Kurekn Ilollv 1 X
Oold Cons 7
Uold Devel 2
Ooldfleld Florence . . . S11
Oold Kewanaa ... 2
Oold Sliver l'lck 5
Uold Zone IV
necia Ulnlnr . . . . . . 3Ts
Iron nioasom . ... 15
Jumbo Extension 0
y l"k IH it
'oils
. 17 17 IT
200 200 COO
70 744 MS
.JJB 870 378
8
10 , 10
4 ..
41 411 IS.
, .1 1 1 ,
,eH 0 i;
. IS IH lti
. 12 U 12
! lflA IB, IBjT
, aiu ao; so.
. 13C 12 12,
, 1I I'i lfc
, to. . 3S 30
. 2'i 2's 2's
: J ii
: 4 i.''v.
i Ji
Knox Divide
MacNamara . , ,
Marsh Minlni
.Matner uoat .
Mother Lode now
National Tin
Nlplsslcv . -. . . ,
forth Star
Ophlr llver
Prince Con .
Ilex Cons
Rochester Mines ..
San -Toi- . , . . .
SHier Hills of Nev . . .
Hllrtir Kfhir Divide
Stand silver Lead
Ht Croix
Success Milling- ,
Tonopah nelmont
Tonobah Cash llnv . . . .
Tonopah Extension . . . .
-lonopan.jim iiutler t
Tonopah Midway
aonopan -Mininx
Tonopah Ml7.nah
Tonopah Montnna
Tonopah itescue Eula . .
11 H con'
Untied Eastern .
Victory
West End Con
White Caps
Wllbert .
Yukon Oold
rniNnsi
Allied Packera 6.
Amer Aurl Chem 7's s
Amer Tel As 1022
Anaconda 7s
Armour 7s
Ileth Steel 7s 1005.
Chicago Eastern III Bs
Copper Export Ss 1.'2
Copper Export Sa 1024
Copper Export Hs 1025
Cons tins Ss
Cons Textile 7
Diamond Match 74 s
Goodrich Tire 7s
tlran-d Trunk tlVt s
neinz v.o la . . .
Humble Oil 7s
Interbora 7s . . . ,
Laclede uas 7s
Morris & Co 7',is
New Haven 4s
Ohio Cities 7s 1022
omo I'ovver 7a
II
14
fl
43
3
a
4 -
30
3
I'i
4
Sss
8
15
II
S
a
" 1
33
CO
11
2il
70
14
0
1
2
53
7A
'2
28
5
10
1."
fl
13
14
fl
,12
'is
3
74
o
' 4
37
!,.
is
1
3H
ar.
3'"
02
a
So
73"'
1A'
11
1
:.s
,
2
30
3
in
3 II
IB
0
14
14
fl
-T3
11
4
3I
3
IS
4
3'i
14 15
II II
S 8
S
15 13
3 3
hl
Jat:
Packard Motor Ss .
Sears Itoebuck 7s 102
Hears lloebuck 7s 1022
Sears Hnebuck 7s 1023
Sharon Mteel Hoop Ss
Hulvay Ss
Southwest Bell 7s .
Stand Oil N Y 7s 1025
Stand Oil N Y 7n 102
Stnnd Oil N W 7s 1920
Un Hy Havana 7S
Vacuum Oil 7s
Western Electric 7s
Russian 0'i s
45
07 U
7S
53fe
88ii
100
noS
100
03 .
102S4
. not
.- 05
. 8B
. 00
. 72
. SOV,
. USV,
. BUS
07
05
1011
00 S
OftS
0l'.
MOS
100 V4
901,
till'.
101 Vi
.101S
OS
100
. OOTi
18
44
07
07S
03jJ
0S
3
004
100
09S
B0 S
100
05
1024
PO
1'4't
ns
t)0',
72i
08ft
004
97
03
100
00 H
OflS
IIIIV,
II OS
100
fl,4
10l(t
1014
101S
118
100 J,
90S
IH
44S
07
07
03
11 n
v
004
100
00 s
80S
100
05
102U
00
04i
08
?ss
0
08
07
OB
100
00S
OSS
100
101H
lOlf.
OS
lnoii
DOS
is
FOREIGN EXCHANGE
New York. April 21. With the ev
1 eption of Swiss francs, the principal
Europeun exchanges showed a decidedly
easier tone in the initial dealings than
obtained yesterday, both French ex
change and lire opening several points
lower. Sterling also showed a frac
tional decline.
The quotations were
Sterling cables H.03, demand 3.92i4 ;
franc- cables 7.80, checks 7.2) lire
cables 4.80. checks 4.70l4 , Swiss
cables 17.32, checks 17.20. guilder
tables 34.73, checks .'14.08; peseta
cables 13.87, checks 13.85; Stockholm
cables 23.85, checks 23.80; ChrHtlanla
cables 1(1, checks ilC.U.1 ; Copenhagen
cables 18.15, checks 18.10; Ilelgian
cables 7.44, cheeks 7.43; marks, 1.51.
After the first hour's trading flic mar
ket showed an irregular tone, with ster
ling slightly highei-, out most of the list
lower. Quotations were- Sterline.
cuoivs iLiMMt, tifinnnu ii.iwvs; ; irnnc,
cables 7.2l)i-j, checbi 7.28',2 ; lire,
cables 4 77i cheeks 4 77; peseta,
cubles 13.8.1. checks 13.83; marks,
1 .40 'j
The premium on New York nTnhnnim
In -Montreal today wub 12ft per cent,
rhe rate of discount on Canadian funds
in evv lork was 11 U, per cent
Centrol Kuropean exchanges were;
Greek, tl.50; Uumanian. 1.57: Uul
garia, 1.20: Austria. .28i ; Poland,
13; Czecho-Slovakln, 1.37.
YKSTEIlDAT'fl FINAL QUOTATIONS
ntjrllnir l-'rnncs Lire Guilders
3 02t 7 33 4.80 34. 2
3 U34 7 37 4 88 34.72
OI'HNINO QUOTATIONS
Slorllnii Francs Lire Guilders
ins ?'& 4Z01i S409
3 03 7,80 4 SO 84 78
Demand
Cl'bles
TODAV S
Demand
Cables
BAR 8ILVER
... .. "- . "eilst a "117,1(111 UU-4 K.ra. (3 8"
fnHert 34V.O ,'0nl0"' ,hl ,rlce w 4d
We have preixtred' and I
will supply upon request
a circular upon
Chicago, Burlington
and Quincy
Joint 4's Financing
A Study of the Investment
Value of the Proposed
Bond Issue
Grahah, Rukons k Ca
435 jftertnut StTMt
Philadelphia
S-s-.
A ctmUrfmlty
Jt$crlptiff
thU mffmrint
fill s tint
mpmn rserassf.
Atk (r circn
ri PA. T.
- L
Wc jure offering
A 28-Yeai- Bond
Price,, Par and Interest
Yielding 8
Available in Amounts of
' $100, $500, j 1,000
iMuint; company supplies electricity
for Iiphtins and power toan area of an.
proximately, 1 000 wuare miles havimr
a population of about 100,000. ji,
territory is rich in agricultural and
mineral retpurce and offers a lar,,.
and ' diversified demand for power
The bonds are mortgage secured
and are protected against early call
by a high call price. They are fol
lowed by $4,003,900 par value of
capital stocks. ThesijDpraiaed value of
the Company s physical property it
50 in excess of Ihe total mortgage
indebtedness. ' B Be
Gross and net earning? have in.
creased 212 and 90 respectively
in the last six years. For the 1 2
zrots
30,.
lnlere.1
requirements on told mortgage invest
ment, spss,bo.
The strength and importance
of the power industry were never
more severely tried nor more con
clusively proved than during the
war and postwar periods. Now,
with their rates very 'generally
increased, operating costs tend
ing toward lower levels, no
troublesome inventories to write
off, and with new applications
for electricity being found al
most daily,, the situation of
power companies is a strong-oni
and their bonds, particularly at
present rates, most attractive.
momni ending jan. Ji, lyzi, j
earnings were reported as $2.f
1 M safe aft ! A 4- .
tat; ner., jooo.iuj; annual
HALSEY, STUART & CO., inc.
LAND TITLE BLDG., PHILADELPHIt
rfLfFHONti LOCUST 4110
CHICAGO , .
ST. LOUIS
NEW.YORK OOSTON
MINNEAPOLIS
DETROIT
Milwaukee
OFFERINGS' WANTED
Standard Tank Car Company
Equipment Certificates ..
i
All Issues
EDWARD V. KANE & CO.
Morris Building
Established 18 Years
1812
1921
THE
PENNSYLVANIA COMPANY
for Insurance on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus
.7,000,000
IIROAD STHEETsOKTlCE.
Cbcatnut and Junlptr Streets
Member Federal Reserve System
s
517 Chestnut Street
Philadelphia
Reconstruct Your Investment
If you are, holding any Hated securities that are not paying
dividends, or if you have purchased stocRs at higher prices, we .
will gladly detail a plan of reconstruction applied to your
'individual tcase which should prove profitable to you. 'Nieie n
no obligation to you whatever. Phone, call or write
Alan A. Alexander & Co.
STOCKS and BONDS
COLONIAL TRUST BLDG., PHILADELPHIA
htf.i Hewn 1070 Hell: J.oroit S340-1-2-3.1) brunch Office, Ilrldieton. V i.
For an Improved Service
We have opened on offlco at
422 Widener Building
for the transaction of a neutral Investment buslntss. W are phased " immune
that '
MR. G. ALBERT WOLF
H associated nlih us us munager of the Philadelphia office, nils i e p '''
to render a courteous service to our clients and friends.
DAVID R. MITCHELL
Member V. V. Curb Market Ass'n.
m Widener Hide, rhlludelplila
Liberty Bonds
Bought and Sold
Edward B.Smith & Co
sijisusniD 1802
Usmbsrs New Tork and I'bllidelphia
Block Excbancss
1411 CIIKStNUT STREET
rillLADEUWlA
0 Hroud nt. ew lork
l'hone fiiruce aJSHJ
Prnv. nf Mnnltnlm fin. 192.r
Central Power & Lt. fis, 19lt
Lehigh Pr. Sec. 6s, 1927
Amer. Lt. & Trac. Com.
Morton Lachenbrnch&Co.
it IIROAD BT.. X. V. inM
Phila. Telephone Walnut 010J-Bc 5J
Tlrlvaf Wlr.. a Haw YnrLC. lftlCS?
BU Louis, Pttisburah. Detroit Cim""1-
arandj Itaplds. i
r
Dividends
HANK 1)7
H
THK CKNTRAI, NATIONAL
I'IIII1-.I.I'HIA
,,. ,,, Philadelphia April 21 1021
rhe pirerlors have this day declared a
quarterly dlildend of u per sent free of tax
payable April HO. 101. to stockholders "f
record April 25 J021 ciircUs will t. mined
AD 3WIPT
Cashier
v
rjf
x
C. S. PAlyrON & CO.
3D IIKflTNCT HT8.
BANKERS
Rucreaaora tn
HAII.1CU A HTKVKNBON
Bonds and Hteka boutht and sold
on commission
Meinhera I'hllu. Hlnek Ktflmnre
Metropolitan Edison 5s, 1922
Teiincsnec Power 5, 1962 "
HENRY D. B0ENNING & CO.
, STOCK l'.XCIIAMIK HUII.UINII
Dlrret 1'rUale Teleplien lo Now Vert
Umbers l'lilln. Block Eicbsnjs
imer. Sumatra Tobacco 7'i, '
'hlla. SubVn Gas & EIcc. 5s, 1W
A
Phil
4 1 "-.. T.. 1O0Q
JllllCrilUll UH IB, !' ....
Lehigh Power Securities In, I'
Buffalo & Susquehanna 4s. 19"
BAUER, STARR & GO.
Ijind Title Ilulldln. 1'hlliiilelpM
Ner. Vork Offlff. 115 "'""n'netl
Direct Private Telephone bet tjffi".
Municipal Bond Man
Mm hait had acliml r
c bv
... n.i laiuiiq ii iirii i mi" '" .
I'cniiMjnanln nl s r?L
fi.nAniis.ltrM mnllllt'Utla) rl"
an, i.nnnr.K 01 ni i
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ddim
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