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- 18
EVENING PUBLIC LEDGER-HItADELPHJA, THURSDAY, APRIL 28, 1921
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MARKET WA VERY
I:
NEW JfORK STOCK EXCHANGE TRANSACTIONS
GENERAL
ASPHALT
We have discussed
in detail this active
stock issue, and have
also analysed the
Steel Situation in a
special letter just
issued.
Aik for a free copy.
J. F. McGOVERN & CO.
Memhere ef Wills. Mock Ki'hanee
1430 Soutli Venn q . rhlla.
fnrure 61 IS Hce 3S02
Sew ntk 32 nroadn-ar
Direct Prtvtc Mlrea In 4.11 Market
0 Y AN
MIXED
We Own and Offer a
Local Industrial
security the First Mort
gage 6'b Bonds of a
well-known and highly
regarded Philadelphia
company whose business
was founded over fifty
years ago.
The i s s Q e 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.
Asl( for Details
Frederick Peirce
& Co. 'M?
' IMin
nut
IWI I heMnut Mreet. Philadelphia
Suf n.(atwj a merely a matlff of
hnou-mp uhrte iu buy your bond
II luRhl,. II
I ' KRXMEN i
II W ' lcho f Ijll
ilj ImjihIs fit oc-;.i ylj
Ijll 'f n j;"v crnmeii
HI !',,M -I'ltndifi opj;fu- j
Ijll initio t'- the ci'ii llll
Jill r at i r in ctoi llll
II c mi.i'1 lc jr i a "i i" mi
J 1 i'! ' 'Hi i sclectimi Ijll
! I vt ii M " rprom HI!
U uMn III
J COMMEROAL TRUST BUMS,
PHILADELPHIA I
HIW 0 (I
i tMjiMoot-nrTsamM-KnAMTON I
' T
I
j
ftl 1
II
Spruce 8200
LUKENS STEEL
COMPANY
lsl.Mtgc.Ss
1940
i'.( iRiTif- ir;rr.T.MKNT
Commercial Trust
Company
niii.fr rtdtr.il KeaeMe 'stxta
City Hall Square Weit
Anotlior Spectacular Rise in
Studobakor Checked Early
Reactionary Movement
o
New York. April 2S Thf highly
pccialixrd character of the trading im
parted a roinpleumii spotty appearance
to the Mock market operations todnv
Studebaker came Into the limelight
nsftiti 1m reason of ntiothor ttpccinrnUr
ntlvani'f of nearly H pnlntK. Mhllo on
ilir rcflftionsry side of the litlftrr Mfx
frnn IVtrolrum n the nutntanilliiR tsr
lief of brar attack', with a drop of .1
points In the general lln wave of
trenttth and heaviness followed In
quirk KurreMion. hut n.i n hnle the
Keneral list exliihited more definite re
oistlnj; powers.
It wn a market from the tart to
finish entlrelj doininatrd by the profes
sionals and in whirh outside rnndillnns
rut a mighty small rlgiire This wa
uttered in nlmoO lomplete Indifferertee
paid to two highly ronMruetlyp devel
opments braruiR upon the international
and domestic monetary sitnntion One
of these was the cable advices of the
reduction of the Hank of Knglnnd min
imum discount rate from 7 to (I'd per
cent This, of course, it is true, hod
been partially foreshadowed by easier
money rnte in the open London market,
but in view of the still unsettled (ier
ninn reparations question the reduc tion
was unexpected just at this time The
other development indicating a good
tort toward nortnalc in the domestic
money situation uus the easier rates for
commercial p.iper Horii these events
were believed to foreshadow an early
reduction in the rediscount rate by the
rVderal Iteterve Hoard
'I he effects of the cut in Pennsyl
win; clixideniJ anil the disappointing
mm entmngs. as well as the unfavora
ble turn on tne liennan rpnmtinn
luestion ippnremly bnu not -orn off.
'I he rcdiK'lton tu the reuns.vlxnnia div
idend mis not in itself so disturbing us
ua the unsettling influiiH-c of the fuller.
niTpreciation of I lie conditions which
made this ste-p necessary on (lie pait
of the management It uus, therefore,
ioublv cils(uietiug because it uisfcU
ihe s:inic conditions would necessitate
imil.'r roiluctinii in dividend rates by
-iiiiif of ih" other larger sstvms
I'nilci1 rlies circunistanees the re
newed seilmg of the iuiik at the open
ing oionsioncd little surrise. but ;he
pru4hiiri' o. n iclaxnl whm it mbs found
tin" lowtr I vt 1 of iiruc- wns not fol
owed up by fresh selling ltnewed
I ool nctivues in the oils and motors
-CMcd to stenilv tup market, with gains
if I fi 2'? ponts in ltoal Dutch. shc!l
ranport, Ueneral Aspnalt. Stude
biikr. Picrci- A tow. ('handler Motor.
mcrlcup Woolen I'nitcd Fruit and
enrs Itoebuck
A conoerted dine against Mexican
IVtroleum. foroiti; that speculative
inutb.iU doivn .'t'ti nomls chocked the
low-ry and caustd some sharp rc-
i r.Mils' elsewhere. It was quickly oil
- t iiowevrr. by loe sensational rise in
:i.niebaker above 02 and this secondary
-I'oovcry was given additional impetus
i- tho quick tsimeback of the roll group,
w ih the coalers and Pacifies leading
iith gains of 1 to 1 points.
MODERATE SELLG
OF PENNSYWAMA
Dix idend Reduction Believed
to Presage Cuts by Other
Large Systems
T ne trading in the local market was
geirll quiet this morning, with
n 'ce unchanged from last night s clos
li. f tc Moderate celling pressure
tontiimed in IVunfiyhania Railroad.
ccisirj the price to dip to 33 -l The
' ITenngs. liuever. were readllv ab-
sdbed. indicating the dividend cut had
bren hugely discounted bv the recent
prolonged decline in that stock ThU
was confirmed bj the subsequent rally
to K44
The sentimental effect of the divi
dend reduction, however, was distinctl)
chilling in that it wns generally be-
evcit to presage similar reductions by
orn of rhe other large railway sjs-
tems Op the otner hand, if wus
poin'ed out in conservative circles that,
although more dividend cuts were pos-
1 -ible. i he worst side of the tranRporta
'ion situation wns now known Pj
1 reason of tlir. drastic retrenchments al
1 ready in'tituted and to be still further
applied the railroad managers arc
t'aail.v obtaining an upper hand in
I "verrorji.ug the high cost of operation.
1 In t'le better informed circles tne opin
'n is almost unanimously voiced that
1 'he dividerid reductions are only tem
porary find with the accomplishment of
tne wage adjustments dividends will be
(stored
Apart from Tennsjlvania, the trad
ing was light The Philadelphia Kler
ir warrants fin the new prefernd
-iock uer again offered freely In
iost of the o"iei- loca, shares de.uins
i re t "-mall lots.
Htles
to
IB
l
t
atiit
t
IH
20
tot
3109
lt
let
tit
0
38
J10S
Jt
mt
m
t40
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tot
1S
Itft
1100
toot
lit
4tt
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70t
4409
10t
70t
Zltt
00
ton
.tot
tot
109
700
ntoo
JO
400
J.IOfl
noon
7000
30 1
100
5 (HI
0t
100
70S
tit
ltd
sin
not
voo
ISO
100
io
100
10S
111
SI0
ato
190
100ft
70t ,
IttO I
loan
1300
too
310
Htl
100
1110
300
3)t
1390
Silt
1100
100B
30t
ton
sos
100
itt
100
5t
40
tioo
its
tot
ssoo
lto
S90
1S00
xto
11100
lto
400
.too
otto
tin
sit
UOfl
too
100
100
too
100
sin
100
N0O
sit
IIS
3t0
100
sin
110
110
190
lit
300
3100
lit
.wo
14310
1301
3100
3100
tit
0400
ion
lto
tn
4
1
:i
i
s
ii
ii
1
fllnh
Adams Hxpress . 33
Air Reduction ... 31
AJax Ttuhber 34
Alaska Juneau OH.. IH
Allied Cbem Dye.. 44i
Atlls-Chalmers 37)4
Am Beet Sugar .... 33
Am lloscli Magneto . . IS
Am B Shoe Fdy new. . 4 (4
Am Can . . . 31 H
Am Csr A Kdy 11H
Am Cotton Oil . 31 K
Am Drug- Syn ... IH
Am Kxpress lit
Am Jcc ISIj
Am tnternat Corp. .. U
Am-lji Pninco Kng .. 1054
Am locomotlve . . . . SI H
Am Radiator . . . lift
Am Safety IUior oft
Am Ship Com H
Am Hmelt ft Ref . ... 41H
Am Smelt & lief pf .. 174
Am Steel Foundries.. 30
Am
Am
Alii
Am
Sugar Ref BSJ$
Sumatra Tbb . . 11
Sumatra Tob pf. S4
Tel A Tel 1UK
Am Tobacco ill H
Am Tobacco Df new tt
Am Tobacco II . .,111(4
Am Woolen . . , IS
Am Zln Lead A Smlt t
2
i
10
7
7
in
4
Am Zinc A Lead nf
Anaconda Copper . . .
Asuo Dry Goods . .
Asso Oil
Atch Top & Santa Fc
Atcn Top A S F pr
Atlantic Coast Line .
Atlantic Pet
Atl Gulf 4WI8S...
Auto Sales Corp
Auto Sales Corp pf . .
Raldwln Locomotive .
Rsltlniora A Ohio. ..
Rethlchem Steel B . . .
Bethlehem Steel 8 pf
Booth Fisheries .
Uutte rapper & Zinc .
Butte A Superior Cop.
Caddo Central OAR.
fa! Zinc A !ad a
California Petroleum . 4SH
Calumet A Arizona
Case J I
Canadian Pacific ....
Central Leather
Cent Leather pf . . . .
Orro le Pasco
Chandler Motors
Chesapeake A Ohio...
Chi A K III Kl T Ctfs.
Chi A K III rif ctfs...
Chicago A Gt West pt
Chicago Mil A St P...
Chicago Mil A St P pf
4
1
1
I
1 in
s
4
7
to
1
1
S
in
17
40Ji
33K
111 ft
8IH
71K
11 i
10ft
3Ji
4
IHi
SSI',
3ft
!5i
04i
4ft
'ft
I3H
"ft
lift
I ft
iltH
3ft
13
1AX
SSft
"ft
H
H
17
"ft
4tl',
s Chicago Northwestern 01ft
Chi R I A Pac 71ft
f hi R t A Pac 6 pf. II
Chile Copper 11J
Chlno CopperN 74 H
Coca-Cola . Mi
Col A So 1st pf. . .33
Colum Gaa A Kite. ... SI '
Col Grapnophone .... H
Consolidated Cigar . 41ft
Consolidated DIs Inc Slj
Continental Can . lift
Continental cndy .. I ft
Corn Products Rcf .. 74H
Cosden A Co 41
Crucible Steel H
Cuban Amer Sugar... 21ft
Cuban Cane Sugar... ISft
Cuban Cane Sugar pf II
Del Lack A Western 111
Denver A Rio Gr pf.. 1ft
Detroit United Rwy . Itft
Dome Mines Itft
Elk Horn Coal . . 10
nndlcott-Johnson ... t2
Erie .. . , 13ft
Erie 1st pf lift
Erie 2d pf 18H
Famous Players L.... S1K
Fisher Body Sift
Flsk Rubber lift
Freeport Texas . . lift
Gaston Wms A Wig.. 1ft
General Asphalt IS
General Asphalt . 110
General Cigar def pf . . S3
General Electric .. ..137
General Motors ... 13)i
Gen Motors deb 6. . . 6S
Goodrich B F 37 ft
Great Northern pf ... 71ft
Gt North Ore ctfs . 30
. . Greene Cananea Cop. 21
. Gulf Mobile A Nor . .
. Gulf State Steel 3
7 Harlman Cor . 71ft
4 Haskell A Barker Car 11
. . Hendee ctfs 73ft
Houston Oil 80 ft
1 Hupp Motor Car 1H
7 Illinois Central tlft
. Inspiration Con Cop . 31 H
Interb Con Corp ... 4 H
Inter Con Corp pf . . . . 13ft
Intcrnat Agrlcul . . IH
8 Inter Agrlcul Corp pf 41
7 Int Harvester new .. tlft
Int Mer Marine . ... lift
Int Mer Marino pf ... 13)i
Internat Motortruck . St ft
7 Int Motortruck 3d pt. C3ft
International Nickel.. It
International Paper.. 04ft
Invincible Oil Corp .. 21ft
Island Oil ii
Kansafi City Southern 77 Ji
4 Kansas City So pf . . 10ft
4 KillySprlngftuld Tire. 44 h
Kelsey Wheel 1S($
Kennecott Copper . . . 20ft
Irfiw (N
v 37 ft
31
IH
4 ft
31ft
.IS
Sift
48 ft
30 H
121H
lift
ft
170
IS
44
iH
ss
ft
A
ft
42ft
11H
31
Sift
"ft
S4ft
til ft
ilK
to
ift
7tK
1
4IH
37
ttlft
81
71H
lift
30 ft
3Sft
4
lift
SSft
31
18 ft
101 ft
4ft
13 W
17 ft
m
ft .
lift
s
lltft
31ft
13
38
Sift
eft
H
H
17
Sift
31 H
tlft
"H
24
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fll'i
eft
.41ft
IX
3454
1ft
73
4tft
fK
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ISft
It
311
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lift
17
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13
Hit
Sift
11'
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IH
71
nn
82
13SK
13ft
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37
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30
31
8
31
71
",
23
tt.H
mA
ift
31 H
4ft
13ft
H
43H
tl
141,
4314
Sift
ft
lift
atH
20
4ft
2tH
lift
43!
lift
20ft
2,30 Net
,V tm ) Ch
,31ft- IM
3t
31 t-
IH
44 H
31ft -38
I
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ft ' IH p
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t
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-70
ft
31ft :
4
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4ft
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13ft
17 ft
Hi
4f.'ft
' .13'4-l
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111
31ft '
73
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31ft
40ft
07ft-
27 ft
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14
son
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tlft
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37 J, -71
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31
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14 ft
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44'
15 ft
20 ft
ft
ft
I
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IH
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Dlv.
Fates In I
1400
lot n
Itt t
lilt. 80
3H 11
2100 3
110 . 7
300 it
310
too
It
ttl
41101
not
10
i 1
ft
ft
H
ft
ft
ft
IH
ft
H
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ift
ift
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ift
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ii
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1
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201
sot
tit
ttn
mo
tot s
310
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I0O 7
100
100
tot
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400 7
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3100 i
110 S
! .10
mi t
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lit s
lit n
3100
itt
ntn n
310 0
lino :
700
ion
100 s
400
1310
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! 30 ..
no . S
100
no a
3100 A
I 1M 1
lit s
lto s
301 4
lit 7
411
I 14510 4
I 101 j
300 ;
1210
1100 6
14300 s.;o
100 1
300 .
300
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ton
110
1103
4H0I
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4100 .14
1110
no s
310
3n s
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1810
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110
1S00
3100 3
1058
13J
40
tit 1
ten
100
ion
300
700 ..
SIO 10
t 200 4
109 S
3toi
100
101 3
ion f.
700 s
1110 S
390 8
3M
I 100 3 10
ItSOO 0
300 1
2100 4
4100
100 s
390
a 100
400
300
100
100
lit
tot s
101 7
lit 4
200
300 4
390
. 1119
.100
I ltO 1
lit
Itt s
I 310 0
High
Keystone T A R 1H
Lnckaranna 3teel , , , 13
Lee Rubber Tire 37ft
Lehigh Valley 41ft
Liggett A Myers ... 131ft
Locwc Co It
Looss-Wlles B 1st pf . ISft
Lorlllard Tobacco . , . HIH
Manatl Sugar tlft
Maxwell Motor 1st pf. 8
Maxwell Motor otfs. . . IK
May Dept Stores.... r lift
Mexican Petroleum . .111ft
Miami Copper 31ft
Middle States Corp... lift
Mid vale. Steel A Ord. 2
Minn A St Louis Itft
Mo Kansas A Texas,, tft
Missouri Pacific ISft
Missouri Pacific pf.,. 38
Montana Power . .. lift
Montgomery Ward .. 31
National Acme 31ft
National Biscuit pf... 113ft
National Con A. cable IH
Nat Knam A Stamp... CO ft
Nev Con Copper 13ft
New York Central.... lift
New York Dock lift
Now York N It A H.. lift
New York Ont AW... tlft
Norfolk A Western... lift
Norfolk A Western pf. 01
Northern Pacific 74 ft
Nova Scotia SAC 31ft
Okln. Prod A Ref 3ft
Orpheum Circuit .... 2tft
Otis Elevator lss
Owens Bottling Mnoh. ISft
Pacific Gas A Klec. .. . It
Pacific Oil 37 K
Pacific Tel A Tel.... M
Pan-Amer Petrol .... 7tft
Pan-Amer B 61ft
Pennsylvania n R . 34H
Penn Seaboard Steel, lift
Peoples Gas Chicago. 47
Philadelphia Co 31 H
Phllllpa Pet 18i
Plcrce-Arrow Motor. . 11H
Plerce-Arrow pf 71
Pierce Oil tOft
Pierce Oil pf 71ft
Pittsburgh A W Va... 38
Pitts A West Va pf... 7
Pitts Coal 13ft
Pond Creek Coal Itft
Pressed Steel Car.... 80
Pullman 101
Purs Oil 31ft
Rwy Steel .Spring pf..ltt
Ray Con Copper. . .i .. 13H
Rending UK
Reading 1st pf 4ft
Reading 2d pf 41ft
Replo Steel 33ft
Republic Iron A Steel, tl
Royal Dutch N Y ISft
St Joseph lcad lift
St Louis San Fran .... 33
St Louis San Fran pf. 2tft
St Louis Southwest... 28
St Louis Southwest pf 37
Santa Cecelia Sugar.. 3H
Saxon Motor I
Sears-Roebuck M X
Seneca Cop Corp 10ft
Shnttuck Arizona .... ift
Shell Transport 4IH
Sinclair Oil 37
South Porto Rico Sug. 11
Southern Pacific 71ft
Southern Rail 31ft
Southern Rail pf ... ft
Standard Oil of N J..1MH
Stand Oil of N J pf . . 118
Stromberg Carb 41ft
Studebaker IH
Superior Oil Corp.... 8H
Tenn Cop A Chem. . .. 1IH
Texas Co 48ft
Texas co rts ....... 3ft
Texas A 'Pacific 21
Texas Pnc Land Trunt331
Texas A Pac C A O
Third Avenue
Tobacco Products . . .
Tol St L West ctfs pf
Trans Cont Oil
Union Oil
Union Paclflo ,
Union Pacific pf
United Drug
United Fruit ,
United Rwy Invest pf
United Retail Stores.
U S Food Products..,
IJ S Ind Alcohol...
U H Rubber
U S Rubber 1st pf
U 8 Smelt A Ref
U S Smelt A Ref pf . .
U 3 Steel
U S Steel pf
Utah Copper
Vanadium Corp
Va-Car Chem pf . .
Vlvaudou Inc
Wabash .
Wabash pf A
Wells Forgo Express.
Western Maryland . . .
West Maryland 2d pf.
Wcatern Paclflo
Western Pacific pf
Western Union Tel . .
Westlnghouse Kill,.
Wheeling ALE
White Motor
White Oil Corp
Willys-Overland
Willys-Overland pf . .
Wilson A Co.
Wisconsin Central' ..
Woolworth F W .
Worthlngton Pump . .
2t
17
13 X
It
HH
23
lltft
ft
tlft
I lift
17
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2114
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.. 40ft
. . S3H
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.. "ft
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21ft
lift
tt
48
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,ft
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33
Itft
41
Low (N
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13
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148
1SH
8ft
1I1H
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8
IH
1
141H
IS
lift
31
10
3ft
lft
31
ft
X
31
113ft
IH
ttft
17
tlft
31ft
lift
m
i
t
nn
3tft
.1ft
27 H
131
18ft
10
37 K
Itft
70ft
14 ft
38H
11
47
31 H
38 ft
31 'j
77
10ft
"t
30i
71
oiH
lift
st
itt
"ft
100
13 H
10X
4IH
41H
31 H
C3
IX
lift
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lift
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37
3ft
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Rift
tax
ift
41
2'
A!
U
21ft
lift
tilH
tss
3tft
sift
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Iftft
43H
2ft
nx
230
28ft
17
13 ft
tt
lift.
31ft
1I1H
03 ft
tlft
108H
23
37 ft
20 ft
SSft
73ft
mix
31 X
40ft
H2X
II04
3ft
33 ft
: ii
OH
7H
20 H
64
X
17 ft
30ft
tlft
tt
47
t
41
'$
43
331,
110ft
41
2:30 Net
,Y tm ) Ch.
UK ft
ft
i3 -
27 ft - ft
4114
111', IX
It ft
tBft i
I4IH- H
tlft- 4H
H
IX - ft
tlft ft
148X- 1ft
23' - ft
lift- ft
21 I- H
It, X
3ft . .
18ft
31 - ft
Jftt ft
21
31 - ft
111ft 3
IX
Itft
13ft
10ft- 3
21ft
17ft- ft
17ft ft
tl ft
II 1
74 IH
31ft- ft
Sft ..
:ift4- i
131 - 2
ISft - H
it -
37 H -It
-71
-84
ft-34X-I
11 -47
31ft
38X I-
3IH IH
77 4- 3ft
Itft ..
72 - ft
28 ft
71 f 1
03ft-!- 1ft
lift
SI - ft
! -I H
31)4
no -r 3
I3H
11J4 IX
40ft- H
4IH- 1
31H- H
.3ft ft
fS tft
lift- ft
23
2ft- 1ft
28 J- ft
37 -!- ft
3ft- ft
0 S- ft
HOft-f Ift
Itft
ift- H
40 - ft
31X4 ft
11
7ift f ft
lift
lft ft
1I1H4 H
ttH
43 , 1
IX - ft
HH
HH- ft
42H 4 ft
3ft
31 - H
331 -V 10
3ft - ft
17 - Ift
03X - ft
It
lift
33 -
lltft
esH-
tlft r
nsx
21 i
13 i
2t-f
Cft'4
74 -
lot x-f ft
33X-
40 ft-
hSft '
"ft-
lH-
33ft 4-tl
H ..
7H ft
20ft -f !4
4 -t2 X
IX- ft
17 ft
21ft- ft
tlft - I4
tn
Oft
t
41
"ft-
SX
.12
43
.13 4
116'i
41
ft
Ift
Commodity Markets
COTTON MARKET
New York. April 28. The reduction
TO STUDY FARMERS' NEEDS
Governor Harding, of Reserve Board,
Makes Personal purvey
WacMnin tnt.11 Ofi AtitirnAP
, -!. tMHtllf,IMI 41 If I It " W ' IUUI
in tne r-ognsn pans rale aou impn Hnrding, of the Federal Heserve Hoard,
nient in the coal strike situation j (,,,,, )(lnj. th(U he ,V01)rJ hef(in
strengthened Liverpool cables thiH morn- noxx W(fk pCr50nni Rl,rVey nf the
ing. ami in i urn iiim-it ".' '" narm cnilit situation Hi the .Middle West I
Financial Briefs
.-J
Philadelphia Stocks
.W.iari.$0a
ti.S--KilSi
Dealers in
Investment Securities
Mtmbn, Atw lu unj Hla4lSi
221 Chestnut St Philadelphia
11
'K
'-A
1.1
1 1
ST3
jii.1
i
t.TJ
Mi
K r
Am Stri .10
Am Hhip
A Torn !'
Am '5as '.
Kl Stg no
Ih Ns 00
MinehlH 4-1
Pa rt It M
Phila Klec 21
do pref 'JO
(In war 'h
Philfl II 'I
f'n Trac
I . I
17i,
j
114
Mi
M
33
ju;
'"
17',
l IS
r m
50
2
1 triu,
00 "
14
21 J?
jr
K
17 V,
.in";
.in- n.T,
riiiLMiKi.rniA noviiM
)W I.ibertv 1th l,s S7 10
JHX) Hell Telephone 7 KCU'i
IOiri He Telephone 7s HKI'j
lfifiCi Cm 4s U47 rcg fif)i
fttfi I'enn.i ft It tern cif, t5v ,-,
'""s) Penna II It tern ctfs IPAs !!.'.
4KVi t'h la Klec 1st . .-,
.ViCK'i I nited Italluar-i Inv .Is . ijll
DIVIDENDS DECLARED
irfft k nrl Vtlft-n Tla lwj 3'i "' irly
' ' , r ( tif fr, i oinninp. pavahV Junn
t Kh fft' 4nl Ni jr'ton ('n ftuirtirly
f j pr rr ' pavabi Mr 1 t. n'ncV of
--fjr't Ap'll S"
rdrd MH'mif " 'ii rif-ji of J pf
r ' - fn inon art ' l- pr rn' on pr.
rrti1 I'Oih ptstibln M ' V m h'ock nf rf.
, Vrw4 i4""' f r o qunrter.s of t, nn
r.rrmon pahli Jun i ro rXnruhrt (-r nf
i"- irO Mav 1 nl quartrh nf i 7 on
ortfirr'1 pa4bl Jjn 1 to stftrkhnlriVri .if
Ll B ERT Y BONDS 7r?X" j;itikr$ .rwm
mrti Apn fit
..nth Nts-'tr ItfiiiK itrnmnnus! ct H c
ti pn'Ahi M - 'o itin-k nf 'rnr'J pr
1 nwTmr'1 a Tr ' o qutirier of ! pp
it ptih M 2 to utor'Kholdfirii of rr.
.. i April ao
M 4jnrhu " ' ( t mi Annua. ,f
. i- c nt vii pt'irM pavabU June 1 eo
, m nf ri v J Mn ttl
tii f nil K. trii Fin Mir "nrporaiion
- of 1 nr run' nn enmrrnn an'J
j... ecu ..n refrrffl both payablft Iun
I t . lOfK of f4riri Ift
' nnfl "il I M .Nurgtt Ha. road n
I n ritfh o' rtft i ti a rr Mpclal ruarantf4
hntrinon' Mxk and gh -se1 n and on
ha t ccma r rrcu.ar auirantfefl 7 pvr ctnt
(Sorthern Pacih'-Circdt Northern
' Joint 6' JS. 1036
Pa -Ohio Pr 6. I t V,2 1940
David Lupton Sons Pfd.
Prazihan Gov An k 5s
Argentine: Gov 4i &. 5s
Buenos Aires 5j K 6s
M-CownCo.
LAND TITLE BUILDING,
PHILADELPHIA, PA.
M,mhr I'lillndrliiSIa mark Riphami
the cotton market here, which advanced
first prices 7 to 10 points
Liverpool was h notable buyer of
tne new crops whii h were frold by
southern hedging interests and traders
who freipiently operate for Japanese
bouses -Private cables also said the
South was a seller at Liverpool on all
upturn
At the end of 'he first fifteen min
utes the list was htead and about six
(mints otcr last night's close.
GRAIN MARKET
Chkgo. April IN The wheat mar
ket was featureless, with lack of sup
port the depressing factor There was
some demand for May and that delivery
was relatively firmer The Argentine
surplus of fM.OOO.OOO bushels, esti
mated, was bearish The weathec was
less favorable ,
The local cash situation was strong,
and there was some demand from ex
porters. Milling demand was good for
hard winter Shipping ales were .ItlOO
bushels Southwest news wu.s generally
bearish
May liquidation in Mot '-orn caused
and Southwest
The Imurd. the governor said, had
thought Ir advisable that he make a
tour of the farming area, so as to
lenrn at nrst hand the problems ol
the countr bankers and trade organi
sations. Mr Munling will leave for Chicago
Monday to isit the Chicago Federal
Heserve district which comprises parts
tof Illinois Indiana and Iowa. Heturn-
ing to Washington for the middle or
May meeting of the Federal Reserve
governors lie will leave later for Kan
sas City. Topeka. Nashville. Oklahoma
City and other localities,
The real crux nf. the farmers' prob
lem, in llie riew of Mr. Harding, is
the foreign situation. The farmers, he
skid, tn isi have a niorket for their
commodities, as they cannot go on in
definitely mi credit without selling their
crops
The Hieraxe price of iwenli rti Indus
trial micIh declined 0.71 ir ,-ent jjt-r-a
to 7S ll hlle the rweniy raljrosijs de
clined 0 01 per cnt to 70.64
A iiOmltt'd to tho New Tor tioi k rx
chnr ih West Pni) Por i'o tor (he
jr end'd I)ember 81 reioris n-t Income
fler chjrun and ftrirral tnxra of $1 2I0.1U7.
LIVESTOCK QUOTATIONS
lorj!1'?10:. Adr". 2' CATTI.B- Uertlpts
snoi) h'ad nt Blttrt snd butcher ihe
I earllnK, 40 top heavy .io.ru Js.76. hulk
iTil "'rr.r? w.ioirn.BD. duik te- com and
neirers IS.iOH,, cih ihm hui.s airsdi
bulk eair J8if:75 hulls lanjn 13 su
0 20. aioikers and feedr sieadj tn itronu,
bulk aincMer and feeder attpr In.sjff J bii,
lisi 'll , t-cipiii, t.yrri neao Active.
."u.' iimiinr intn ni-riia , aieraite;
hoa-a e" 0d. Top, IS flfi. rui re n.lOW
50 Iwiter aradea P sa stead) . nihert weak
HHi:i:i'Jtecelpts IS.OOo heart I Mostly
NEW YORK COFFEE MARKET
New ork, April 2fl. With the bulk
of Mn liquiilotlnii out at the waj . It
was natural that the coffee futures
market this morning should open quiet.
Traier were marking time There was
iinths and this wn'Wu'e pressure from last-minute
. ,K I,.. ,,,,,i,iliv nml this iiiiiuerii'e irrssure ironi nisi -uiinuif
nressure on tne iste nioniiis anil inn , . . .. . ..
gPe prices a material etba-k Huying , J ' 'nH but trad n ihe .-uU was
HO SO lo rlt hutehem or-uT ,n ttn
fholee .horn wethers. 17.23 tr nht horn
vethers 17 23 U-t ahurn ee. Ill 73,
Knat St l.oola III, Apnl 2S CATTI E u
necelni, woo head Fmv eie,r. h-re. euVart?
In 2Sr hlghsr IS paid. ,lfh, vriTrllnM
and heifera uteadv to alriinu Co and liuflu
r.,ai',y . " cv" '" B-5' hulk ,ut
it. 30; atnek'-ra ateady
HOtlS Ilecelpts, SSOO head A, tn.
atron moatlv iSj hUher Top lit 40. hulk
of .ale. S.2SeS.,0 for all U.. srade
hulchern tin heavloa here, packer an
"I-"" 'o hlaher rlra 23c hither- ouallt)
HIIKr.l" necelpti, 1100 head Noirms'li
!,,rdy M"" r recelpta direct and thmuah
Heat ss pound ahorn lambs hrnuah' l'i sn
odd tium-hea of ewea 13.30 0 3 73 aeiiiiln
pnntere II2B0M.3C. -nuine
lMllaliurxh Aprl 2S IIOC1S Hfeftlnta
S0OO head Market hlher Ilea.,,, is?i
TRADE RESTRICTED
IN OUTSIDE MARKET
Bonds at Standstill Indus
trials Quiet Oils Make
Little Rosponco
Nw York, April 2fl. The msrkel on
the riroad street curb showed a gen
erally steady tone, todty, lint dealings
were restricted as in other security
groups because of tho fact that financial
Interests generally devoted nearly all
their attention to matters connected
with the movement for the new
llnrllngton 0 bonds.
This brought trading In rhe bond de
partment of the curb to a virtual
atandstlll, but those Issues were main
tained at around prerlonsly prevailing
prices, and declines which occurred
were of only slight extent.
The industrial Issues were nulct,
Sweets Co, ranging from .16 to 3V4.
ond liritlsh Chemical sold 12 to Yi.
Inter-Contlnenttl hubber was one of
the most active of the Industrial group,
being inlliteneed by the strength shown
by motor stocks on the exchange, and
advanced from OH to 10. Acme 1'sck
ing was steady, selling at 2 to 'J1?.
Southern Coal and Iron was quiet, a
small amount of business being trans
acted, during the forenoon at 0. United
Slates Hhip Corporation was tin -thonged.
Petroleum stocks were fairly active,
but failed to respond to the sdvsnres
made In many Issues on the stock ex
change. Interest was attached to the
trading in Ilyan Oil, which again
rhowed a strong tone, ranging from S
to 8. Simms Petrojeum was firm
with sales at OVs to VH- Standard Oil
of Indiana new stock was actively
traded in at 74 to 7SV4.
NIll'NTnlAI.H
How Safe
are Foreign Bohds?
Those interested in this
subject are invited to sivd
for our Circular 7317
Bonbright & Company
437 Cheilnut Street, Philadelphia
Armt Coal
Acme Packing
llrllleh-Amtr Chem
Empire Fund .
intet Hubber
l'etfectlon Tire .
Hcuihern Coal A Iron
Hwcgtf Co
Tr.'ansle Film
U H Olatrlbutitif .
U H Ship fon
f t Meem
Untied Profit Sharlna-
Hlih
.: k
.. 10
.. 1
1.1
l
rt
3
Aralu-Atner Oil
Standard Oil of Ind
0
3Jj
21 23
1 IV
STANDARD OIL.H
1' IS,
74 73 S
INDKl-KMUOfT IMA
Allied Oil
Atkatiaas Natural tla,
llurne Oil
IK, Ion Wyumlna
("rrlb Syndicate
'"Hies Service n ctfs
I'teoln Hyndlrate
Denr.v Oil
K.lk Ilasln Petrol
Knslneers' Patrol
Federal oil
Fay Petrel
Oltntoek Oil
Uranada
OLfTey tilllraple
Itvaeon Oil
tntl Petrol
Marland Del oil
Maiacalbu Oil
Mirrltt Oil
Mrilco OH
Mountain Products .
Noble . .
Omar Oil
Temii'k Oil
I n-iucer t, lleflners
Jtvan Cona ...
Palt Creek (nevrl
Slmma Petrol
81(H)- (III
Tcxoil ,
I'll Tejas Oil
United Iloyaltv
Victoria Oil tnewl
11 13
a m.
IS
iW
SA
10
1
A
22 i
.5
IS'
12 11 12
is is tr,
l'i IS I i
ioa : ioo
t :; s
.11 31 31
4', H, 4',
tiu A o
11, ll. Hi
IH I. IH
1 1 I
S Si s
13H 1341 I2S
lnlj iftt; Ian
2S 23 25
S04 aov, 3ns
12 V m, 1-j
IH IH i4
IIS 114 HH
41 SR 411
2H 24 IS
H ft4 ft'
44 W4 44
S ff '
14 is, i.i i,
P', 04 oh
u S 3S
Ntvr York
1812
Boston
Chicago
Ustroit
1921
THE
Pemnsylvania Company
for Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT, COMPANY
Capital' and Surplus - ?7,000,000
Member Federal Reaerve System
' 517 Chestnut Street
Philadelphia
DltnAI HIBBBT OFFICK.
Cheilnnt n Juniper .Streets
UNITED RAILROADS CF SAM FRANCISCO
Four Per Cent. Sinking Fond Gold Bonds
To the Holdara ol CsrilAcatjs of Dipsalt Inua4 uadar tk Bondholdera Aira.
Hat.d January . IBIT, bilw.eii S.ldar. l th abav. deacrlb.d boad. and J.?'
Hanry Hamm.nrf, Dnld O. Otta, B. Hawaii QHawold, Jr., A. H? S p.,.MJ
Edward B. 3mllh, Cmmltti "'
,., .r- it t.-tiet4- v-rtTftrli'ii ,l.u, i i ..... ..
lJl A,u ,im,r.i, I .-w... t.imt, iii ULLUIUHIlce Willi tttft Drovittlnliu .1.
notice dated October 2. 1019, of approval and adoption of certain chnne il '
Amended Plan ot reorganisation dated Aprlt 26, 1917. the steps contemoUtM f
laid amended plan hne been consummated to tlio point wliern ths new Secuein.?
ire ready for dcihery, and Tho Equitable Trust Company of New York v'l
Wall Street-. New York, upon surrender of Din aboo-mentloned ccriincite. J,
deposit, will be prepared to deller the securities to which such ho ldir. .!'
entitled unon the reorrnnlsatlon. fc" "Du mi
Dated New York, April 26, 1921.
K. C, HAKT.TKR. Ksa..
CRiVIlMJg K. BBKKMAN, Esq..
Counsel
1IOKKK1-L. W. GAINES, Secretary,
59 Wall Street,
New York.
JOHN HENRY HAMMOND. Chairo..
B. HOWELL GRISWOLD, Jr.
A. H. S. POST.
C'ammlttaa.
:
mMi
rtlSs.
mW
MiMNfl
Alnaka rtr Columbia r, J. r;
Hint A Mont . 44 S3 S4
Caled Mln ... Il i n
Candelarla M 40 3,1 40
Cona VlralnU T T 7
Cortes Silver . . 7S 70 ;a
Creaenn O Id 1. IS IS
Creac.mt MeNnniara ..10 tl to
Pundee A-lr 1 1
Emma Silver . . a 2 2
Fureka Croesm CS 02 SS
Kujjkii Holly . . . 1,V i,v ir',
(Slid Cone .7 7 7
Oi.ld novel . IH 14 14
Ooldllo'd Florence . 34 as SS
tl.ild Kewana 2 2 2
Odd Zona 111 is i
Uruat If.ind ... s 2
Hcrln. Aflnlnr . . nil a. I, nil
I nm irioaeorr .. 13 13 Is
lu-nho EMenaloi . . S n
Knnx Dhide IS ts is
Mc.Natree.i 14 1, 14
Marah Mlnlns ... n 11 a
Mothd,- t.od 30 30 f,n
f.lther Li1 new 4 4, 44.
National Tin AAA
NlpHalna- . nt,' 4; 4),'
North Star . .33 3
dphlr Hllver . .. IS IS IS
Pl.it Palladium 3S r.S (IS
Ilex "ni S 74 k
flochjjter Mlnea . n tt
San Tiv .... 4 4 4
Slher Klnr Divide -J 2 a
Mlver Illlln Nev 40 30 40
2"A.m P. 9 S A'
a JllvT t.ed '. A A
Surreea Mill .1 .1 3
Tonopah llelmont 1A 1A 1A
Tr.iuipah Dlld ... IS I A 1A
Tonnp.ih nxtenelon . . 14 14 14
lonopnh-JIm Hutler . . ' 7 7
Vonopah Midway .. 13 13 Ms
Tom.pah .Mln 1 1A IA
Tonopah Mltpin K R R
Tonopah Mintana k x
Tini-pah Retcur Kula .. 1 ir, is
Victory ... 4 4
Weat Knd Cm 1 r. I a I A
White Cspa n 6 a
Wllbert 4 4 I
Yukon Gold l1, 1 1
nnsiw
Allied Parker Ha 4 in 4fl to
Amer Aarl Chem 74 a tlilS !HI4 flflV
Atner Tel fla. 1922 H7S U7S 07S
Anaconda 0 . . SHS HflS sns
Anaronda 7l 1020 IM', fi.lS 03 S
Ana-lo-Amer 74 innv, mo1! 100U
Armour 7a till', nsil pns
Ileth Hire! 7a. 1033 94S HIS 04I
Can Nat Ity ,u of 1033 ion too ion
Chi Haat Ilia Ba. . no no an
Copper Kiport 8 1924 (144 044 044
Cona Textile 7a Ort 09 OS
niamond Match 74 112', 1024 1024
(I rand Trunk 4 a 04 04 94
Oulf Oil 7 .... 03S HSU 93S
Helm Co 7a lis fin ' pa
Humble Oil 7a OSS 0AS Ort1!
Kennecott 7a .... 02 02 02
N Y v 11 sa :,h ,-,n 3a
Ohio Poner 7a 93 lis S3
Rolvav F , , . . 1O0 100 too
Souihneat Hell 7 94 nnu Ofti
Hi.uth N Y 7a, 102S 101 s ints 101 C
Fouth N V 7a. 1931 .1014 t04 1044
Swift Sa on4 tios 904
Swift 7 . .... 11114 iisi. nsH
Teaa Co 7a tl S i OSS 04(4
Vacuum Oil 7a inns inn too
Weaiern Klec 7a 01i, nS 09S
Swlaa 34 a 834 S4' 8.1
'jfPuitSs?rp
I jsffljrtKSM!
Confirm
Your Opinions
ns to the worth of an in
vestment before making the
purchase.
Our datu is at your service
in detcrmininjr the trur
worth of the investment
under consideration.
BATTLES & CO.
Independence Moure (Fnil
Coppi
ij .
I'll
I
ae pri.e. ir 1, ,n n I "' very small volume and confined to a p' '
pntver ai poor. Ihe rash . orn basis September and Mareh ! . 'i" 'V'.l i:AM,'is, .""?" " '.d
wa-i unehnned Shippins sale-. V I at " to 4 nolnts derllne T'ai'vi.-S pnW. ,T,2,B, 1""l'l,7,,, Ml
.0.000 bushels. v,lth eiportfTS after Bft;?arp;,fflnn: 1UI ,. wot t""'""" 3" h"J' """
HourIiI ami .Sold at
Stock KxclmiiRe Price?
EDWARD L0WBER STOKES
to .N 1BTII .T
Mil I T 311
Conservative Investments
MacMcekin & Williamson
1111(1111 IMI sNklll HIS
Me niter, l'lillu. hlvcU Kicliaime
I
yellow corn llereipts were fair
flats followed ntlier grains, the mar
ket being without feature Cnfh oats
were unchanged Shipping sales were
SO (SKl btiahelH
Reserve Banks' Discount Rates
Oft'eial redlarount ri'e a' tie twelve Fed
era' Iteaerve bank-t ftn- a followa
Treea Lib Corn I Okra
. Ifa tlnnda Paper Accept
Hoaio
New Y'rK
Phllartelph
rielnd
Wchinond
Mlan'a
Chlcajo
Rt liu'a
Mlnnaplia
Knmtl Cut
Tlallaa
San Franc, t-o
tiacoun rate correaponda with inlareei
s S
ii e 7 n
tn .,. 34
rt n s ii
a n a ii
s 4 7 ii
a 7 it
a B4 s t-
34 7
ta as 3u
h s 7 s
n nan
'1'here are indications tliut the spot
murket im due for iinprniement in de
mand ii nd jobbers look for a fairly
m-tive mnvemeiit between now ond .fitly.
iJellveriP of all kimN for the month
ol April will exceed 1,000,000 bags, be
lieved to be the lament on record.
After the call prices worked n fcw
pointN hifther on demund from a Wall
uttnet rominiHsinn house, but when this
was withdrawn, values worked slijjhtly
lower aguui in nn empty market. De
comber was switched tn March at 33
points Jobbers reported a continued
improved deinund for spot coffee, but
it u fur from normal
English Bank Rate Lowered
London. April '-'.S.-tHy A. IM
Announcement wns made by the Hank
of England this morning that the bank
Kan HiirTaln. N. . apn1 28 rATTt P
irierdpla ir.nh'Jd Lower Cali.e rereln'ta
40 hend Steadi 28r higher ISPin.lfi tr
; IIOOS llireipta 1300 held 10 m r
hitler H',iv S 0i)4fi mlied lOfiuVo
v.rUera fU.lOtfO.SB Msht v.irl,er and pli,
8 737 9. rouah. 10 30ff 11.73. etr.1a , I4MS
' flIIKRP ANP l,AMII ICeetpt,' ' ,."
hed . I.amba. 23c lower. Iflffll OihVr.
urithaneed.
United States Treasury Certificates
Int
Rat
si mi. in.
tBS time IB
s .tune IS.
34 July IB.
a Sua:. Irl
tB4 Sept.
r, 8nt
.Maturing
Date
Inn .
StOCK
ra h-irne tv certiflcie, n'edaed ae eotiat l r.tte had been reduced to RUj per rent.
Jf.'A'c'ir.TdBpVr'c.rii'J IK r.::;lKf.r tha l- twelve months I, has re.
tt Philadelphia. icained at i per cent.
tr,4 net.
R'i Oct.
tH Dec.
8S Mar
IB
13
15
13
1.1
1021
1021
1931
1921
1121
1021
1921
1021
lfijf
1021
102
nid
ino
inn
10UA
ion
1004
ion
ioo a
ioo
inoA
1004
lOllA
A'led Yield
lWA 4 so
inoA 4 so
100U 3 IN
IOO 3-12 A. 20
JJOA B.Jll
100A A. 33
llIA A, 0
JOOS fl,a-
1004 S.B7
Kxotnnt from norm
onh
Tcceptane to- payment of income
iiuu nn .,a,b ui inaiuru) a.
t
federal Income tax
of income tax
FOREIGN EXCHANGE
New A'ortt. April 28. -The foreign
exchange market displayed n ittrndv
lone In the Initial dealings, prices o'f
tho principal exchanges being practi
cally undmnged from yesterday's! vw.
Ing figures.
The quotations were:
Sterling cables 3,05, demand .i.fui,
Cnn nAl.lAU 7 r.n I.KAI. - mr ..
...,n ,.,unn i .in,, i iirvnr I .,1,1 . lire CO.
hloa 4 R4 rliub. J C'llt , ,o.. I ... ....
lr'3 ,,'hrU.i!..U'",0: Kul,,I"r bles
in.OO, checks .I4.fl.i ; peseta rnlili-h 13.110
checks 13.04, Hlncklinlm iiibles '.'2,ll."i
checks 22.00; f'hrlstlanla cables IB.Clj
checks lfi.fiO: fopinlingen cables IH.O.T
rherks IR.frO, Helgian culilrn 7.5!)
chei-ks 7..rS; murks 1 54
In the carl) forenoon the market de
vcloped n stronger tone. Sterling cables
were 3.05, demand 3.114; franc
;ni" 7,f'1,,1 ''h,r';K.K 7-si "f blcs
l.hflVa. checks l.MI; marks 1.53.
YRHTKKDAY S FINAL QCOTATIO.Nfi
SlerPng Franca
, 8.044 7. AS
S.94H 7.BS
TOOAT'S OPKNINfl QUOTATIONS
Klael h !..-- m. .. ...
! Demand T6Vs I " tHL"u,i.',:!
Cablea JI.95 7 JW 4 tU jJJ
BANK CLEARINQ8
11, nit elaarlnva Injliu aa... .
reapondlna day laet two eara
121 IU20 101
Tleaton 89,107,397 All no7 finn .14 a 011
ht. T. 847.218,842 771 70S ATS MIS 83rt
Phil. SI 204 9S7 7. fisn (130 nn a5n
Ilaltlmore I0 72SS27 14lf,7f,9i n",8in'
Chlcaao 79,133,888 18.497 023 102 233
C, B. & Q. Jt. 4s,
1921
Ve are prepared to allow
par unc Interest on these
bonds In exchange for the
new Issue Jclnt 84s, due
1936.
Trice of the New Isaue
MV4
WlOINIS ilOO.. PMtUOIlSMIA Ijjj
Ahuiliii riiMt!t IMS I
,V,L. t'i ilrtt Lit,mtll L .
nn e tvmaitw. t r
Sl
:mmm-
eT.V
WfWf
Equipments
Short-Term Notes
Long-Term Utility Bonds
Baker, Ayling & Young !
JUHKt'll . SWAIN. Jr., Maoaitr '
Land Title Dldg.
n n 1
tioaion rniiaatiphla
J
Demand
Cablaa
I.lre (Julldere
4.8A 84.8.1
4.8S 84. u.',
Liberty Bonds
Bought and Sold
Edward B. Smith & Co
K7ni 1anr.11 1802
reiuhera New Vi"k and Philadelphia
Hlock Kxchantea
1411 ('HKKTNl'T HTUCET
PHII.ADKU'IIIA
I'll?
I !
0 I
.177, 1
7711,
272
Tia ' Vi
ier
and
The Copper Shares
Under this title in this week's i3
sue of our Market Review wc pre
Bent an intercstinjr article on cur
rent conditions and future outlook
for the copper industry. Special
reference is made to a number of
issues, including:
Chile
Kennecott
Miami
Anaconda
Seneca
United Verde
Extension
Krnl 011 a-e-etrr-sf fur I.-tiil
HUGHES & DIER
hlla. Mock Rirlmnte
Mlteblirxh Stock Kirliinte
niruao 110 aril er Trade
atv A'Maalr fu.. ar a . .
m m i rwiiiirr r.irnanic
ijo walnut Street
Philadelphia ,
Rprnre S4S - rtare III I
-New York, ritlahurab, Cletelial I
Member
t Phil
) Pitt
) Cht
t e
f UR Current List
comprises fif
teen carefully
selected Public
Utility and Indus
trial issues of
Bonds, Notes,
Preferred Stocks
yielding
6'2 to over 10
Ask for list Ii-15
HoUistcr, White & Co.
Incorporated
North American Building
l'llll.ADI'.I.rlllA
lloilan f lark
asxajJia-U-tv
Twin State Gas &
Electric Company
10-Year &7r Secured Notes
(Due Mnrrh let, 1931)
rollateral pledged entirely com
posed of bonds itffordlnir sulmlnn-
tin I fiecurlly.
llnrnliiKS 3 3-10 tlinen Interest
requirements with unlnierrupieu
preferred dividend record for p.wt
ttvrhe years.
Fairman & Company
Drexal Duildlng. Phils.
Kalitbllaheil UVt
A. H. Bickmore & Co.
Ill Broadway, New York
iTrWrtisigi si "T
Naw Ensland Renreienlaltve,
Do you aailre a permanent repreaentatlve
In New Knelt nd? Younr man, So yea re
old. college iraiuate, R lean' eelllnx
xperttneo meehanlcat aeoda, deal re a to
locate n New Knalandi Intervlewa
.oMclled, A 8U. UCIHIKIl ofritiE
Studebakcr-GnL Mojorj
Pure Oil Texas Co.
Their financial status and P"1''1,,,
outloolt disclosed In special le,r
(Uneral market condltlona coere is
our Invsalntent f4nrTe.T N".
Alio ash for our SS-l'aymeal
llooLlet l'-D
Scott & Stump
nvralmenf Eremitic
NrRCIAUHTH IN Ollll I.OTS
Slsck Etckasie IMf. 40 EiW. f1
rklUdstsVla N.iv Tut
Joctat lil- Broad ""
A
Ujftf'i f...4r