Pjtwwa4Aj)tiroBatMfcMfirilV,1i, mwriiiwjtJ!5SSiSB
YX!$.-
-- f'
Vj yyVrtit rt--, r , r M sssw.,y ,,,,, , ..
""f y .Y"
EVENING TUBLIO LEDGER PHILADELPHIA, WEDNESDAY, MAY '4, 192!
20
j'
i
'tl
,1-
r t
L i
irff
fc.
r
W
.' V
: . -
Mm
"" B
BEELv
Join 6VS
Northern Pacific
Great Northern
Due 1936
Exceptionally attractive
conversion privilege
which may be exer
cised at holder's option.
Price to yield about
678
Circular mi rc1Ur( lir pr 397
The National City Company
Philadelphia 1421 Chcetnut St.
Atlantic City Chatfonte Block
I22S noardwalk
LEADERSHIP WAS
SUED OFTEN
Both Steel and Rail Croups Em-1
ployed to Keop Market '
1
Enthusiasm Alivo
NEW YORK STOCK EXCHANGE TRANSACTIONS
nmntiniiim;nim:t:t;:tt;nn;:in::::;irt:t;:nt!
1
Are the
Copper Stocks
To Rise ?
Recent market action
strongly suggests accumu
lation for the long swing
upward.
Depression has carried so
far that any change in the
trade situation must be for
the better.
In expectation of an active
market for the copper
stocks we have prepared
interesting data on the
leading issues.
To obtain this data ask for
Bulletin P.L.-50 which we
will send free on request,
together with our booklet
Thrift-Savings-Invcstmcnt
CllflRLE5H.ClflRK5DNfi9
66 BROADWAY NEWYORK
TELEPHONES RECTOR 4.663-4
iaa:vMuaiiisr.u:
State and Federal i
Income Tax Laws
As a result of a careful
study of tax laws, it is .
not unusual for an in
vestor to net from 20' ,
to 50' r more income
from the securities he
owns than other in
vestors who own ex
actly the same bonds,
notes and stocks.
We arc prepared to
answer any questions
relating to taxation of
investments, and in
vite individual re
quests for information.
pu tirli. Mn I WluV tnilm'
.fork market iliowri! '- !; hail tint
tlnlhod reopnnrllne I'1 'In1 rnii.trnctn'
ilovolopmonl". it nm-rrtlinlp.. iltilnjf'l
n tirod appp.trnnro nml nppnirntl u-
, fi.ll of .took. In cm-tnl the ptngrnni
Tnf thr.ilnv did not dlfTor r..ditin1h from
tlip prPri'ditiR pmiw Tlirro n. llf
' u.iiiil 1 1 x r 1 trailing dtirins tlif fnro-
tn'i'tl. with m hIp tml rminin toil prir
n "PiiiPtiK Irrcsul.triM nml diilltip
I winch follow cl w.i" iiccr-cilpil 'n I ho In f
'hour hv a frr.li upw.ird spurt, rnrmnc
i tlin center part of tho ll.t to the Inch
fct price of tho dav
I full of stock". I'rctt) much the .ntnn
proRrnm wft followed, with lielv trnd-
, mc iltirinc th' torenooii nnd with wide
I nnd i nlmated price movement, fnn.nil
h the familiar irresnlnrlt.i . then dull-
nc before th" tnnldiij c..mii n
ivai 1 ed
The 'JO per fin wnip reduction an
noiinced hy the I "n i t .! States Stee'
t'orporntion after the rln.inj; jeterda
i supplied a fresh impetus lo the for
ward swing in the initial operations
i.'uite naturalb the teel sharei were
the center of intoriM. with Steel com
mon niakinc n pirttoi rcbonnd to s,"i,
or t point abine InH nicht's Hosing
r el
(Mher teel iniliftrluN "ere higher
bv tractions to a point and some of
the eniiipniPnto resiitererl mini of like
extent. The wace reduction by the big '
Ste.'l Corporation wai resn riled n m I
onvtrnctivp step and in keeping with I
thi- lower schedule of pruv. for steel
lirrtftlinl If tint l.rt n nr .,.,.,. 1 mil I
,-.. ..... . - .. ..-, IK'...,... "'ll.-i .Mil
that wln'e the position of the t'nited1
State Steel Corporation mav I"
-trenethpned that of the mill pendent '
companies will be weakened ;
1 cniie the bnoyancv of the .no .
and atkliated ".'lBie. the generil 1 t f"i
i tin o wn. without n defin.te tien.l. in
trith ther' wire cotupiciiom enimnrh
iod. .lt'iii; voine of the r cut a i ii
I iv m'cri is weie takin; rd'.intage .-f
the broul movement In the .steel m
ib.strliil to cash in pinln. '
iei s'liiiulu. invmi wn in j
I' ' -i nto the inded irmU'' In nun I
v ' Int.; of faiersilp i., t h. i nl
rvi ' IJenewed actmt' ip tils d
virion bavins ff.r its basis the nrsn-i
meiir that the steel .n;e redi.itici
I .1 ved an easier mad f"i i -itjiiinr ie.
hictmii by the transportation lin-. .
The lower prired snev were the mo.' j
piomnnnt. iiudndine I!, ami u. i hiv
lnealte aid ihio l'itt'i,irsh and1
M irsima. St Paul ft'eri''d nml
I oloriidu Southern. 'I lie better crude
' rail", sii h (ii Iteadirg. I niou 1'nciti.
Northern la iln- and lii-eji Northnn
priferi-ed. w hlte lo.-s. aetio. cainod I to
1 ' j points.
This ileiiiomtrii'ion mfi,ei new life
into tho tiadii'S and ihe whole bt i.mh.'
back well, but b'fote iniild.u mam .if
thi indu-trnK nctiin lowe., c-iden e
of topheavnies. ami nnicli uf the .arlier
iiiiirineniei. wiw forfeited Jl'iie .lull
l!". which di'M'lnped on toe declines
'. IS .. t ... . III -"lilt. 'III. Ill IS ,S kjlllll ,
Hemphill, Noyes CS Co.
Mtmbert Ntir York Stock Etchtnf
Franklin Bk. Bldg., Philadelphia
New Votlt Dotton Scrmnton
Buffalo Albany Syracuse Baltimore
tfflt rn
.. ..f....... ....-,.
Miiptim. h'lt others foond in it signs
of ih market com; stale and ap
)ire;ichinc an .nerhiiigl't 10111110011 '
l'mted Staie Stcl ,tvI nffiliate.l
shares roe to highest pri.es in 1 lir. 1
later dejlings regardless . " nvliciitio'i 1
of firmer nvnc
l!e.sidi Hie wage red,. 1 1 n bv the
Steel Corporation most of th doonp- j
ments and new- receued d iring tin 1
day coiild eailv hae been cnntriprl nt
a constructive character. The tone of
the foreign news m the rirst plaip held1
out hope of an eat'U set r lenient of the
lierniaii reparation niie.stion. nnd in
nnHiioial in les it was stiorall ex 1
pei led Uermanv will come tn time m
mAing the payment deruanded on 01
hefoie Ma 1J S-cretnri .Mellon",
plan for curtailing f' deinl cp. uses and '
uftins out the e,i e.s profits taxi s wer.. '
'on-'idered as a possible big bullitdi
factor.
FEW CHAXGES A"
THE LOC 41, STOCKS
Forward Steins in Scrcral i til
il harc i(lptrurlird i
(h rrnipht
1
Highest Orade
Municipal Bonds
to TlflJ from i J tn fl'.
Jscw JcrseN Municipals
n .tfiii :nrr
1 re of 1 1 I Mlrt-r.' T n
WiDlNtn Bldo Pmiliouphu
Vn. )-" vl ' I I
. 1 -
mmm
Harwood F.lectriL Os. 1042
Kansas City Pr & Lt 8s. 1940
Cleveland Llet Ilium 7s, D35
City Service l o., All Issur-s
Denver Gas &. Electnr 5 1931
Unit. Rwy. of Hav
C
1936
LAND TITLE QUILDINO.
PHILADELPHIA. PA.
Mrmbcri I'hlla. Stock Ktrhatm
Foreign Exchange
Explained
aj lnprittne tnnk'et tr'Blnln In
inipl- 1 irirf nn mpfr-.jnt uuU
j t I Mitnf an-1 bulni mn
v. 1 1 fl J '1 f (:" h!ijc.
f 1 o. klr K 1
Wm-H.McKenna&Co.'
25 Weil 43rd Street. NEW YORK
T'ie local mark" shewed a tendono ,
to mark time. i ieh was mad" the inure
ruticenble beian.e . f the .nlc tracking
1' the promising f--wnrd movement in
sfwral of the ut 1 ' shares jn the two
pre, eding se.sions Then ngnln. the pi.
citing trading in '' Mc market rathpr
than stim'ilnt'g - -e.t in the local
o'lttit crtei a i - r t dnerting in
tl lenee
De.p te tif fa ) deal iigs a fIri
.'rong tone was nm'n'iin-il h almost
it, entire In" Ut' Hild there some
tit-tak ng ipp !- ' I. it this wn. to
o,eefcd 'in c-itig the . xtrenie
'iTdinwo of t'n irrent spi. iiatlnn.
M 1st of th 1 1. .trnetn,. dmenp.
' is hhl .-I 1 r ( ioai,.' in New
'1 f rk 'llso i-fi'i 'i f r 1 ..in ! ' rnh'e .11
' ' ' ri ' 1.1 cot h.iMiig direii
t".i-i g o'i n' i'" the 'nal corpoia.
" "" n.'ard'd iniiTP-tinir 1".
if ' ' - 1 I n ptntno of tn
1 , ' ' ,,.,rt in) a nidi' al cl at g.
ilic :itnf condition..
notll t'nit.'d (ifl. !tupinpn ent :n 1
T ' nlna Hapid Trnu-it . , I
' i ' . 1 i'l n.der the (op nn 1 - 1 . .
.''.I or Nlondav !'einsi.i' .
Ita i" n 1 -1 lb ct ei 11 good under1' ng
i' 1 .J. 1 ."" T- -llgge.ti..l n
.' "i er. in or' 1 me t . ,
I ' 1 ofl r at prir-
"Mime 'tea of hi noiro.ne.. 1 1 ,.
larki't 111. 'I irt.iilcil 'Killing- in t.i
illieiint. 1 from ih.. fact that d irlng
1 i' ti-st 1 11 r- In 'it. unit tin 'iare. of
I'le. ti 1 Storiig' Mattel cliiingi I 1 ihhIn
In the lat (ii.' ih. total ,.,. -. n-.ti t
thirti -one ahnn "itli fl . t.rl 1 oft i,
P'int.n' 11H l.'high Nii'iga'ion bn.k"
into I ' ground ou. ,ni r,i;.
I'll ill'leif HI Hutni Issin - "ere bi t
ti r i.stnin'd '"''lowing lie re) . rt tl it
t.-n i- .i.g 11 t. r. -t- , ad ' 1 mp . Ii. p.
1 ing' 1 n nt- (' r taking ..ot a" 'in t , w
preferred t ' not .iihiinbi I tor ,
the nimmrni s nri holder
Small d"ii 11 gs 1 ri ngi-ii M 1 ,i
Nortn l'i ini.i lui ia Itn.lriiail I'm,, .
shama ' entrnl Light pri ferred i.
I igh .iMi' and Philadelphia Ti'ntn,i
and I'hiliidelphiii In.illali'd Win.
DANK CLEARINGS
Hun. .'nrnt tO't' rinnar.l w 'h -r-.p
- I r 'l.i' '-.si 1 '
in.'' li-'O H113
N 107. I'.ll .IH l!Hf,J'iij Mi -1, f,,,
in :a 111 .'.m i ana t.a thhip;
,1 1 .1- 111 1. , t. in . 1 ',; j fl,:
Pal".
.on
.on
inn
9on
won
moo
asno
nuno
IROI)
inn
.inn
no
nno
uon
noon
ton
1(100
10.1
.10,1
inn
inn
ton
slrtfl
:on
Ann
.'nn
inn
inn
3inn
.tnnn
1.11m
.ion
ison
-onii
a: on
.imn
2inn
r,vta
ton
1. ion
ton
ton
son
.on
41000
.too
son
inn
inn
flJSJO
1SIQ0
son
inn
no
.100
ton
mini
inn
non
l'!l)(l
ion
inn
non
inn
inn
Mn
ton
1:00
jon
.inn
it on
.nn
ism
3.11
jono
tisnn
mnn
1100
t.inn
.iinn
..ton
unn
100
sinn
1 tin
.on
.1200
.ion
inn
mnn
inn
1 aoo
.inn
.into
nnn
.inn
.inn
;nn
son
?nnn
.in nn
inn
:nnn :
sjnn
inn
an in
.unn
inn
-nn
..inn
.inn
.on
innn
inn
..inn
inn
inn
s'jnn
sr.nn
.in no
.noo
300,1
.1011
ton
.itno
r.jon
tun
rin-.no
1 no
.on
rtoo
mo
nun
ion
..mo
ion
ton
.1)0
nnon
tsoo
"."J0
inn
ion
-.'no
n 1 00
noo
.on
ion
IThI
1:11
.nnn
mo
.inn
Qinnn
.100
.110
100
nnn
ion
:iimi
.inn
on
.no
atnn
ion
3.1000
nn
in 1
inch
Adams Kxprcss ..... i
Advance Uunicty .... ISU
Mr rt'iluctlon .IHU
AJ.ix Ilubber 37 ?
AIiik1.ii nold Mlnca. .. Jo
Alaska .litne.m O M. . l'i
All American Cables .I054
Allleil i-hetn Iiyo... H
Allied Cbeni A Dye pf. hO'i
(
3 .in
I nn
A
8
X
Alll.Cbaltnor'i
Allls. Chalmers pf .,
Am Asrlc Cbern
Am Hank Note
Am Heet Sugar
Am tlosch Magricto. .
Am can
Am Can pf
Am Car & Kdy ....
m Chicle
Anier Cot Oil pf . ..,
Am rim Syn
Am l.'xprcss
Am Hide Tnlher.
Am Hide & Leather pf A?'
Am Infernnr itm A5
Am-I.a Prance Hnr, ,
Am Unseed
Am Iocomotlve . . . .
m Locomotive pf.
1m Radiator . . .
Am Safety r.azor..
Am Ship ,t Com.. .
Am Smelt & rtef
Am Steel Foundries
Am Sugar Hef
Am Sumatra
m Tel ft Tel
1m Tobacco
Am Tobacco B
Am Woolen
1m IVoolen pr . . , .
Vnacotjila Copper . ..
s-et, neall7atlon .
Aso lirv C.000Q
Atch Top ft Santo Fo f.in
A tell Top ft s F pf .. J.1H
!l Oulf ft W 1 S S .HIJ
A'l rjulf & y,' 1 ss Pf 3fl
Itiantlc Pet 31H
no sales Corp
Into Sales Corn nf . 131'.
iiaiciwin Loeomotlie..
llVt'morp ft Ohio
V iltiu ore ft Ohio pf
K irnwlale Clas A.
Uar"sclalo Class FJ..
Paropllns MlnlnR ...
Bethlehem Steel ....
Bethlehem Steel B...
H.f 1 Meol Se-, pf.
Hoof' Flsherleo
Bron.'jn Itap Tran
BrklMi II T ctf.s of dep
3R?4
. 77?i
. 18 W
. AIM
. 3'
. en?
. 33H
. 81
.129 "2
. 2"'U
, A.1
. 0!i
.139
I IV'
. 10'i
. 47 34
. 01
. 101
. 70',
. on
. Il'i
4.19i
. 30 'i
. !)04
. 73
.108
.IS41J
.13.1
. "0-i
. 97 -A
. 41'j
. Vi
3'
01 J,
.19 H
A0?4
27
. 3J
u
. fil
. t.i;,
1044
I',
7
Buff P.-.CI1 ft Pitts r.A
Burns Rros 00
Hutie Topper ft Zinc. A's
Butte A Superior Cop IA
CariMo central O ft B. IS
California Packlnj: .. 0
California Petroleum . 7'i
Cahfor . 1 Petrol pf. . 77
'nl Zln ft Lead Al,
Cannill.in r.iolflc ....1I.1U
ca.e .T I si.
Central J r.it'ier 40
Central 1 either pf. . 77
Cerrode.p.ideo 29'j
Chnnrt''" Motnr.i .... Sjr
Chewipcato ft Ohio . C31
Chlcnro ft ut iwst . 8'e
Chlcigo ft r;i Wrst pf 1SH
Chicago M ft St P . 2S
Chicago Mi, ft St P pf 4.1
Chic ft N' riliwe t Cm
Chi IVeu r.itle Tool . 6nH
Chi n I ft Pae 29 h
t'hl P. I ft Pac f.o;, pr (IJi,
Chi P. I ft Pac 70J pt 74
Chile Copper I3U
Cbitio Cnppr SAVi
lev 1 in 1 "hi ft St j .19
Coc.l-Cnla .10
Colorado Fuel ft Iron 31 Vj
Co ft Southern . . . SH
1 'nliim 13.11 ft i;iee, . . no
Col 1 ir.iphophono .... ?S
Col liraphophone pf . . Cr4
Coiiolidnti d tils Ins.. Sij
Consolidate, (;n, ... s;'.
Consoliilat.il TettllfS. 20',
Co'itlnent-il I'm A7'4
Continental Cindy .. 1'
c m Produ ts Bef. . 7A'
"ii Pr 1 ids Bef pflOIH
.".9
M's
21?
20U
21
I 'nsilr. ft ('o
t'rui ihl. S'eel . . .
Cl licit.', -h . 1 pf
Culiriii 'ner Sugar,
fiilnui 1 '.me Sugar. .
1'a.l-on '"lienilc.il
rl l..i. k . IV. st.'rp .22,1
Pen.er ft It'o llr.mile 't
Pinver ft rtio C.r pf. I '4
I'etrolt 1 'inted Hwy.. f,S
T s-iitio M'nes 20
I'Uluth MS.? t pf. 0
Hlk Hoi n Coal 3.1'.
1VI Horn Coal pf . 40
I', nr mon. Brat ' ing ... 9
I- ndlcott-johnson .... 6R'j
Frle 14
Frle 1st pf 20'
Frio 2d pf 14 U
F inious P.ner U... O1,
FiTioim P!airs pf. . . 80
I ertcral Mln ft ,-mlt pf 2S',4
I '- Bul.her lha
I -. -port T. x.is 17?i
'.h.ston Win. ft Wig.. l5s
'.'ner.il Asp'i it TOS
' i-ii. r.il si ut pf . . HA'.
' eril Cig ir CO
1.1I 1 igii- tif .... 100
'Jeneral Flectrio ....1.17
'feral Motors li'a
'".n Motors deb 6.. OR'j
'. o.lrlch B F 12J
. '''ko H F pf o.T.
' .r r,iv Is IA
anby '"onol M ft M 23'i
- .1' Northern pf... 72'i
1 , "r,r ore ctfs. . .
'i . f s!tt steel. . .
' I .'f s'tate Sieid 1st pf
Hiftmnn Corn
.1.
1
Uli
I
ctfs
. n Oil
1 Motor Car. . .
1 ' ,H Cent
'iHhomn. Hef
ri'lon (."on Cop
rh Con Corp . .
rl) r on Corp pf
nflt Agrlcul
.11 '.
42'j.
11",
21
Si '4
IA',
93
n
'
13 U
9
Agricul Corp pf.. 16
Harvester i.ew. . l'
1 Mr Marlni 1.1 H
1 Mer Marine pf . . . SO i
! 'ernnt Motortruck.. 3B'j
It t. rnatlonnl Nkkl . 10Ji
I ,i..rnnt Nickel pf . . . NJ
In'ernatlowil IMpir .. (AH
Invincible Oil Coip... 20
Island Oil ',i
Inwel Tea 10
Kansas City Southern 27 'j
K.msns City So pf . . . AOJ4
Ki-lly-SprniBfleld Tlra. .11 U
T mv
39 ?4
171,
37 "2
.10':
l',4
lOAVj
4A',
S8H
3R'fc
77?4
18'i
At 14
30
r,i,
3H.
Si
12K'.
3.1 1 4
3
r.u
Il'i
.Wi
.11
ion
CH
on
10i
7'j
O'J
10H
1.1
30' j
's
7Hi
107?4
121".
131',
70S
97H
il'.l
2'i
31 'i
R2U
7A 'j
11 ?4
30
21 1.
's
13H
110
37 'j
.10
27
20
?4
no
01',
101 4
A'i
IIS
7
0.1
Rs'
A'
I A
17'.
r.n
ir.H
77
R
1I2H
29'
2?4
02 :.
l"
17'i
2Bi(,
10',
nt
n.TH
29
(13'i
7.1 H
13
2A
3.1
2S?i
ill
3A?i
.19 T,
'
10
H
S7",
20',
A7',
l'i
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3HV,
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221,
19',
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fl
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22
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9
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S9t
2." 4
17 i
1A?4
1'a
73'i
1IU,
on
97
137
li
us';
41
M's
IA
2.1
7njj
30 H
39
fc7',i
7r,'
23
m:4
1AH
91 U
0
361,
4'i
1.1
9
16 ",i
0.1 ' j
1.1
'AH
3'j
111,
71 li
fill?,
20 U
1
10
2034
All 1
It) '-a
Today's Net
I'Ioko Chse
39 y,- ?i
184 '5
3SJ$J- IH
3
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10AW4- f4 !
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77 ?4 . I
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3114- 'i I
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139 - I
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101 - V4
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122', r I
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214
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21 ii ' Ji
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39 "2 4- 2H
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112 '4 4- IH
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7
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171, 1,
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635, -r IH I
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9 - 2
7', 4. 4
11 ; 1
20 "4 s- r
H'4 ?4
sn 1
on '4
"!.' 4 14
1; 4 ', 1
17'4 4- H., .
IH 'n I
70'a 2H
IIA l 3
CO
1 mi 's
137
14 'i
OS'S- i
Il'i- ?4
SS'A4 3',i
1.1
2 4- !j
72'i-i- 1',
31'. 4- ?4
12-4 4- IH
S7'4 3
77 2 r l'i
23
p3' IH
l'i
2 '2
r,
.30(4 H
IH 1- 'i
13?4 f l'
!.' IH
91 4- ?4
1.1 - i2
ffl t 'j
'ID! 4 114
lll2
SA - A
I A 1
20H- 't
'.
in .,
7!i ' '2
Sale
100
200
3100
3700
COO
100
no
1100
A00
300
300
300
.101
300
100
200
.1100
son
ion
31000
.100
7000
.1:00
930
2on
101
IA00
una
101
mo
200
101
100
2000
100
200
1009
ion
33
10'J
100
AS00
310
300
A.O'J
lino
.100
a.o
noo
100
A00
200
ion
30A
.1200
900
200
J00
1S00
2200
R00
A20.1
too
too
too
mon
AI00
300
300
300
MOO
1300
100
1230
200
' 200
noo
700
700
10
200
0.1 no
.100
GOO
1100
KA00
1000
I 1300
ff 300
7100
IA10
10'JO
moo
2non
(100
701
2309
All
00
1.1 JO
10009
1000
100
11700
A3JU
703
S00
200
310
2na
I Ml)
l.lsOl
1 no
300
200
7no
A.100
7IIS0
2100
3S00
.100
100
SA00
2300
. .100
.on
2330
2C0
330
700
1200
1011
'.MO
7300
inn
630(1
ctnn
inn
3000
1010(1
2no
noo
AtnOO
100
2100
200
MOO
:i'io
300
ion
1200
21011
louo
IOq
10)0
Alio
1100
203
200
CIOO
700
200
100
0100
I00U
1(111
100
110U
ntv
111 (
3 All
1 60
r.
2 . 50
I
7
A
.10
A.'.'O
1
HUh
Kelly-SPB Tire 8" pt Ml
Kejscy Wheel 814
Kennecott Copper ... 21 H
Keystone T ft II I71i
lickawnnna Slecl ... S4J4
I.alio Frle ft West. .. 12
I.nko I'lrlo ft West pf 21
I.co Ituhber Tire 2S'4
LehlRh Valley AOH
Lima Locomotive .... 704
l.lniu Locomotive pf. 0A14
Loft Cnndy II H
Ivoewo Co IH-H
Loose-Wllei lllscult . 37
LoiiImIIIp ft Nashville 9S
Matihnttnn Kiev cuar. IA
Maxwell Motor .... f U
"l.iwell Motor 1st pf. s'3
May Dept Stores 90
Mexican Petroleum ..14H
Miami Copper 23
Middle States Corp... 14 4
Mldvalo Htecl 30
Minn ft St Louis.. . 12
Minn St P ft H St Mo 9J
JIo Kansaa ft Texas . 2'4
Ml9foiul Pacific 19H
MISKOur! Piiclflo pf. 39 '
Montgomery Ward . . 23
National Bbcult pf ,111
Nut Cloak ft Suit ... 33'4
Nntlon.ll I,oail . . . 76H
National Lend pf . .Ins
N'ev Con Copper 13(4
(1 Te ft Aiex f.A
N Y Air Hrakn 77
.New York Central:.. 7015
Neu York C of St L . 47
V Y Chi ft St L 1st pf 60
N Y I'hl ft St L 2d pf A(l
New York Dock 31 Ji
New York N II ft II. . 1??,
New York Chll ft W. . 17
Norfolk ft Western.. 90
Nofneni Pacific .... 7AM
Nomi Soot la S ft C... 3A'4
Okla Prod & lief.... 31.
Ontario Siller Mining A',
Orplicum Circuit .... 27 "2
Otla ICIevator US
Otis Steel 13J,
Owens Hottllnir 29
Pacltlc Dcicl Corp... IA
Pacific (las ft Ulcc... A0"f
Pacific. Oil ASH
Pan-Amer Petrol ... JO1.
Fan-Amor II fill
Parish ft Bingham... loi2
Pcnns.lanla It It.... 33!,
Pcnn Seaboard Steel. 12
Peoples Oas Chlcaco. . 47'i
Pern Marnuetto 19H
Pore Marquette pf . . 39,
Pere Muni prior pf . . A3
Plill.ul. Iphla Co 33'-,
Philips Pet An1,
Plene-Arrow Motor.. II 'n
Plerce-Arrow pf .... 7Ali
Plerco Oil in.,
Pierce Oil pf . . . 70K
nttj Coal 01H
Plttshurch ft W Va.. 20'.
Pltlshiircli Steel pf.. 8.1
Pond creek Conl .... IflH
Pub Serv Corp of N J 01
Pullman I03U
Punta AleBie Sugar.. 41,'n
Pure Oil 3SJ,
rtav C n Copper 11 H
It P. Securities Co 111 Ai'i
Ita1lw.1v Steel Spring R0
rte.iding 7A,i
P.r.idliiR 1st pf 10M
Uiadng d pf 13
flpplo Steel C3
Itepubllo Iron ft Steol. 6614
Republlo Motortruck . 21 ''1
Hoyal Dutch .V Y CSJi
St Joseph Ijcad 1214
St Louis S..I1 Fran... 2.V4
St Louis Southwest.. 2RJ4
M Ixiuls Southwest pf 37 U
Santa Cecelia Sutrar. . 3
Saxon Motor OH
Seaboard Air Lino. . . C,
Seaboard Air Line pf. II
Sears-Roebuck s.V ,
Seneca Cod Corp . 17
Shalturk Aruson 1 1 orp n
Shell Transport 17H
Sinclair Oil 27 H
Sloss-Sheft 4
South Porto Ulco Su? 67
Southern Pacific .... 76H
Southein Rill 23'i
Southern Rail pf .... 0H
Standard oil of N J 1A3
Stand Oil of N J pf..ins
Stern Rros- pf no
Stewart Warner sp.. S2',i
StromberB Carli .... Il'i
Sludeb.iker si1,
htudebaker pf 903,
.Submarine! Boat Corp s
Superior Oil Corp.... 8
Tenn Cop ft Chem... 10
Texas Co It
Texas Co its ".'U
Texas ft Pacific 23;,
Texas ft Pac C ft O . 2SK,
Third Aienuo . I7'i
Tldf water Oil 17IH
Tobacco Products ... 81',
Trnna .Con Oil 13'4
Trnnsuo Wm Steel... 133
Union Oil 22'4
L'nlon Pacific 117H
Union I'ac.imi pf 6.1-i4
United Alloy Steel... 31',
United Drup 06
United Fruit . ... IIP.
United Itwy Invest. . Ill
United Rwy Inieit pt 22'..
United Retail storei A A ,
U S C I P ft Fill . 1 5 U
U S Food Products.. 21'i
U S Ind Alcohol 73's
I? S lnd Alcohol pf no
U S Realty ft Imp . . A22
U S Rubber 78-,
U S Rublier 1st pf...l01i
U S Smelt ft Ilcf 31
U S Steel 8AH
U S Steel pf ion
Utah Copper AA
. . Utah Sec 10
. . Vanadium Corp 3.J2
. . Va-Citolln.i Chem .. 20''.
8 Va-Cur Chun pf . .. 87' j"
6 Va Iron 1 oal ft fukw 87
. . Vliaudou Ino 7',
. . Wubash S
. . Wabash pf 2134
. . Wells Fargo Kxpr'"- ijl
. . Western M.uyiand .. It 14
. . West Mankind 3 a pf is
. . Western I'.iclllc . C0'rf
4 WestlnKhou-n. K ft M i.ji
i Westing I". ft M 1st pf An .
I.nw
86
6814
son
1014
H3
12
20 'i
2S
1934
70J4
0i'2
I Hi
lNli
303i
OS
I A
A'.
?'
bo
lir.Ji
v.3
11 H
29 'i
It
09 1 i
-!ii
1891
3814
22
III
.12 '2
76H
ins
I Hi
liA
77
69'j
17
60
Alt
.1 1 ?i
mii
17
flS?i
73 s
r3
:'i
R14
2714
117
13
2S
I A
.in 14
38
nn'i
61
IA'..
31 ?i
H'i
17
1814
39!i
A3
33' 4
37
10'i
3 ii
HiH
70'.
61
28 1 j
8.l'
I.V,
c:i
162
41',
.IA'2
1N
Al'4
l'i
71H
lO'i
II
31',
(I A
21
674
I2?4
22
27 ,
37
23i"
'
6
10 '2
83
lfl'i
6
10',
20 3.,
13'4
67
7AJ4
211,
AA1,
163
108
I003i
33
II
Rs!
97
Wheeling ft I, 1
Whe. ling ,. I, 1: pf
Whlto (ill Corp
Whitii Motor
Wlllys-(i. r'.md ....
VHIi.-0irluniI pf .
Wilson (V c.i
Wix'i.nsln Ct,ntr.il
I WorthiiiKton Pump .
:
III),
1C 14
11
iO'j
4l!i
13
3 A
Ai
s
0?4
103,
2!
21 '1
27'2
16 H
17IH
A3
in,
l.T'8
117
(..Hi
31 H
DA'.
110',
tn
'
r'l
17',
n
A I
76 H
mi?i
saw
81' 4
1C9
.11 .
9',
:.7i,,
20
7',
87
1
7H
21
6.1
10
17
'.?
Is
.in
ii'4
K,
I.V3
I'l
10
II
1.1
3A
ia;. .
I
Today's Net
Clo.a Clise.
80 r 1
A84 f
31 M
inji l
f3 4
13 4
31 I
2814 A0H f
79H4'
9.1 14
363i
II. IA -
w
8"e
90 1
11814 -i
23
114
2914 4
13 4
0034 1
2ii 4
19H r
ro'a
33 I
111 -
3314-
76H-
108 1
1214 '
r,A t-
77 -
7014 4
47 4
60
.10 -
31 Ji
nn r
17 4-
on 1
7AH 4
31 -
3'4
a;, 4
27 '4
147
13H
29 4
IA
AO'i
38 '4 -
701i (
Hi
I
'4
3,
Hi
!i
's
Hi
?4
'
IK
1 2
I
'.
H
IH
14
1
u
t
H
H
14
2'4
U
H
le
34
H
3
3'i
'4
l'i
"1
14
34
1
Vi
'4
l'i
14
H
'4
Hi
f 1
4-
63
IA',4 r
3A!4 '
II 'a
47 ',4 "
10H t
301, 4
Al t
33 1 j
30 1
40?; -
7A14
I0H 4
70'j -61
I
20 '4-'
83 1
16 "
6.1 163?, !
1 2 -111,
3l'4
8'1 '
".A'C r
4n.v
13 '
32 '5 i
ffili 1
21 H I
r.8H :
12 Ji
33 '4
' 7 '
.1 ;
6',
Hi i
II I
(3 !
17 4
6 - I
4
4.Vj 07 -76
I
22 1
J.I 3,
1A2 -
I0S
110 I
33
44'2 '
80
07 ,
8
inj, 4-
214
21 34 t
2s 17 S3 ,
171H
Al 4
12
1334 -21
H -
117144
6334 -3IJi4
BA'-j-
1U1H-
10
22 '-j 4
Mli 1714-
7B
73U I
99 r 3!i
42 i Ha
77 H '',
101 Ji ..
.-314- 1-4
8AH4- lii
New York Curb
i
i'i
H
I
1
I
2H
H
H
.1
109 4
.'IK. -
or, -
""1 r
'.D
8Hi
87 4
7H4
8
21
6.1
1014
17.4 v
211 f
18
36 -Ji4
1034 4
10 13 -
I0',4 4
11
43 I
3 A 4
-I J.
Commodity Markets
1
10, Ml bale, a jur ago nml ,'s,li.'J'5
bales two jenra iiru.
COTTON MARKET
p 4ork. Muv .- The cotton in.tr
kei npei.ii steadier at nn niivnnrc of
I to in 1 111- nn Wnl! street anil local
Ion ii,- ltd. 'Oi by further repoils nf
',1 si .is. 1 at u cool weather in the South.
Offi'i .tuts nn rather liberal, Iiowcht,
I I 11 :h '1111 Li!t'ipooi. New Orlean,
and s, 1,1 i.e.. and later the list lost
a goo.i j -t ",' ii. upturn. fliowiiiK only
st, .all "'i uains nt the 1 ml of the lirut
tlftl'l II I Il'ltPs.
A" ' 1 ..:.s to a loe-al .pot broker. tb
np'.rt. if .in impro!'d export demand
in tl i. v , ,, ale illlte lU'tltli'il Me
.fl". thin a 1 onlii'rahle Milium' of bui
ii.. I. 'hi, done, iil-ii that tliere bus
1 in 1 c ml inipilri from domestic mill"
'I iii -1 l'lmrts of n beter Nput demand
.mil i'i Lit II1-I1 weekly report of the
Wean 1 r Hiirenii fnibd to start nut
fi'. -'
I Ju.
iVinhr
, I)e. emt'er
January
I Aturi n
Ij'uj
II 117
'1:1 70.
1 1 l'i
II lis
11 na
IN Y
Today'
open
1 2. (I A
IA. 3D
1.1 h.1
1 1 :u
11 III
tlrnei
1 3i
p ni
1 .' S.I
111 III
ia 70
1 I ml
.1
Kansas City Gas 5s. 1922
Georgia Hwy. eV I'r. ."s, 195 i
American (ias 7s, 1928
HENRY D. B0ENNIHG & CO.
STOCK K.VUIW.l lltlllllM,
UlrM-t 1'riiate Ttlrphonp In Netr I oik
MrnilMr I'hlla. Stork Kirbanc,
1
DIVIDENDS DECLARED
a'l I H I 'i , i,r' if J ;- rT
I'll a . ,4 p'i' I l h i . 1, . in.
, ' r. rl M I"
i b ' i t nol ri II i h . . , , r.r
I '7 pr ent p . m , m hi ,, ,.
r. r I M i' VI
' ' I" V - ..I
to 1J
Ul
' i i I'
"I p.. I
II fl W I
till
-I'll
pill
of 4 pi pi Myhl, 'y to '.tuck of
record .May 3
an and tne reunion exienueu
i'i' f"i .luU i ontiil'ts. ilurliiK tin1
it i i noon, or nb "It 1'.' points net
II i. iis no ii-i,pi,il n'llin
110,1 (ii eiikite-s, .1 ml nil lie. of
nit- follow i d oil com I'iIIh'
oi 's er. HI.17 Imi' . nil to
( I' urain i tor tin i n -'
1 1."." 1'iS bub -. mill
I " 1 h-ib - lot no hi
.1 In -I sl'U i
of cnltiin at tin poits
e Li mined i.t JU UOO
in, i
", I
iitin
dm
.tl
i - . i li in r
11 I'l
r ji tn, in, a
I bale.8, against lb,'J85 bales a week ago;
GRAIN MARKET
Ilic.iRo. M.i I Tho ,ent imtrket
ns wrnk. The s.( rt uns i,Ki,0',., ,
the overbought lonilitiun or the market
made it susceptible to selling ,lni price,
responded readil.i to pressure from
locals who bad bought oirlior. Ijisirrn
boil.es hold on I In billKos. The iii.,i
premiums hit" linn for hard nnd sprniK,
i but red M'nter a shade easier. Mill
ing demand was slim-. The Soiitliweht
rejinrleil larger country offerings urn
increused ciinsiKiiinenl notices. Ihpnit
deinnnd '.ui. quii'i
i orn luiiouoii uiieai. I iimiiiis.iou
housix !,oli. forcing liipiiil.'ition o pit
trndiri, Alio linii'jlit earliir. "a-h pie
mliinis were um bnngeil, cxi epi f,,r
White. Wllicil Nils PMhill. Tlieilisli ie-
maud wns slow with sales uf 'J', mm
biislnN for doiiii-tn. and none for . .
pun lepoilid
(Int. followed oilier gruins Some
tiniisfirrlnj of lipdgei bv nish Interp t
was noted. Cash oats premium were
iiiieluinged
. Ml imsiie!
WhiMt
M.i
Jul
"rn
llllv
S I
ll
- 1 1
I' Ik
t
J il
I ir .
JuK
Ml '
It I -
.til IMI'
Shipping sab. weic onl.v
" h :i ,ti
I i." i ii
I I'.'v I 1.1
1..W (Mope
I :is i.:i
1 ll'l'i l.0!l'
I.T,
l.-.l,
.is
I.I'
'I'l ",
dl'.
Il.i,
.III ',
;i7,i
ni',
ii.ii
.17
:i'i .
ii. n
in 'i .
li ii;
in if,
" i ii Hi :,o in -,ii
17 ll i i nn in ir,
'1.7'.
1(1 07
'I IV,
I'' I- III.IIJ
li 77
I'l". Id III ll) li
LIVESTOCK QUOTATIONS
( lili'.uni. Mm i , ai'ti.k lleii-i.t
KKiii heiol II. f so.,, nmnB lo 1.1c
lon'ier rtr,j i.,,, ,, - ,,,, ,lllt ,,chfr
!',?,,: -"'f ""c-c, 17 7 '(( s ."li ,,n,t.- IKk,
L i' '"' "'" H'"1 '"'"l-i" oleioly
njlk Ni ;i,i n, t. ,rr AAAuflT, bull
fl'l.K71 ,-'"r"1'"" "' ''". mostly IU
I,"L i '"''"j' "ll c Id enrl oil,,",
"-' , ?,'", ' v' '""' I" S-.KH 7ii i.nia
'"slVl-lo "k,l'. ' ', ' " -liwt.lf 17 .'.litis
lain, ... 7. ".'.'." T-' "'" heml AU'"'I
'"l' JIO 7.. ih. rn lu I,,, i t ,,
rf,,,e iTi'V,, "i'r'"'" "I""!'' l-WPI. ni
Id ,,'l',""l!',rii,i'" ''"'. M"v ' MOfSx llree.n
'"" '-' ' l'i' I. . s VlfiS 7f. I,f , v
.,.'' " "'" "i'i- i.- n .vnt
. ' M M I . Ml i ipi ;iijn hen.l
;, I ii ii ., ; ip Um.. All
Top 111 "" ,tCC,''r", ,00 ""' ""her
INDUSIIIIAI
roup.
Arm. rol
Aem Parkin ...
Am r..Mthrr . . . .
llrlt-Am.r Tobacco
Car T.lht
(' ' II Ills
(' . 13 pif
Durnnt ?fitrr ,. .
Ilnuilr. Koert ....
tnlir ltuhtir
I.nli. Turrertis .
I'erfeetlnn Tiro .
linrlln Cm . ..
Hailio ("em prof .
South l t
Siw.ls f-o
;; n sum r.3rp .
t' H .Strain .
I'llted I'rofli Rhnrl
i nn -n iii candy
ST.Nn,RI) OII
At olo-Aei nil inii
Oil of led T1'i
ns: . .
11:15
Illi-h Low p.m.
, 14 IS Ijl
214 2U 3
, 13 12H 12U
. 12 12'4 12J4
2H 2H 2.
, l.f-4 i.Tt 1.T4
, SOU mil .1ft V,
, 2fti 2fti 20-1
. 3H 3J,
. 10J4 10'4 101
: 'J ' i
, 2'4 2 2
. 2H SU 2
ii ii n
. 3'4 3S 3S
4 .V ,
S S
. i, 1'. in!
. 7. 7'i 7'4
im)i.i'i;nhent
All'e.l fill
Arl-anrs. Xilurnl Oas...
Ilootie (HI
Hasten Voiiln
Cnrlti fin
Ci-.Tin svp . ,
IVnnv nd
i;ik nnin !'
r.r.lners Petrel
P"i1.rnl (111
nniitfi.i.4 ri.i
(llnrnel Oil .'. 1 ,'.'.'..! !
rininmli
linffev Olll.spl.
Int Ilro!
Krvslonr r.inBur
t.rlnn.1 Tl.. rill
liirnrnllin Oil ..!'.!!'.'
Mexico Oil
Vit..
.Ncco Oil
Vrt.,., nil nirtf
Kmiir nil . .'.!!!!!!'" I
PrniliiTr fr rteflners ... .
riinn i '.i'i.
Salf i r.rk new
fnn
"Imtn" Tt ' "
fU.llv nil
Teton
fnlteil llniRttv
Viiiorla Oil n.w
V Oil .
Ifi'-i
-:.'4
1nU
OH,!
in
in
SU
p
1.',
r.
in'i
ii
c'4
li
!!'
IrV
21
3IJ
1'4 11
s.1
s
Il'i
11
IV.
minim;
n,nii.
Ho.louV M nt . . '. . '.
Cnlrt.l Mln
Cnntiplnrln M i .' I i . !
re-ten HtHer
i i ...on Onld
'.iiit .MeNamra
t"ini''e Ariz
ilmrui "mer
S'.urel ft ('rn.nuj
furelij Holly
1..IH I 'Mt.
I'l.lll tllt '.',' '.'.'",'.'.'.'.
ilnlrlf.e'il ICliir.nr.
'loli Kewnnn '.'.'.'.
(inlil silver Pick
ilo'd 'sn.
Iri'ftt Hind
ltec' i Olvldu
Ir. ti ll.ii.r ni
.tui lo l7it.nilon
K"-r t,.ke
IC-n HI' Id"
'lev iirnta
Mnr.h Mlnlmr
.Meth'r t.cle
Mnlhe- t.it. p.w
N'ntiom! Tin
V t'lu'nc?
Vnrt'. Slftr
Oi'hlr Sller
t(T I 9HK
K.ii hr.ter Mlnen
Pn To'
siiv.r Klnpr I'llil.
m 1 O
ller T.nd
iiii r.. Tln
ri'iiopn'i llelment
Tonopli nhltlc
Trnopih Kxt.p.inn
Cinoef h-tin. Piittr .
Tonnnnli MMnlitf
T' nop ih Vln
T.mnp ih Munch
Tetinynh Montane
Tnnrtl nh II slie T'llln . .
fnltfl n.mtirn ... .
Vl'lerv
Wi ( l"nd (.'or
'.Vhlt . I "nn.
WIINrt
u'on Ool.l ...
IIONPf
A'on cr Chen 7'4s.
i in T.' Ps '22
mr T.-l 21
AnironMn !. .
Atnennile "s 11i .
And" Amn 7Vi . .
rri.oir 7s . .
i'hl n."t ills "s
fens Gi s. . .
i ohm T.'Stlle 7s
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Philadelphia Stocks
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is North I "a 70'. 70'' 70'(.4- V.
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i'iiir.iii:uiii, nnsns
100(1 I.ibert.v 1th P-Jh S7.50
Klllll Viclnrv I'..m 0.SO2
SiOOO Hell Tplpjihoiip 7s lots lO.'Pr
Kill r.lectrlo A- Pun .In l,..u ni '
..... 7 . . i"n .ill
jihiii Hudson iv- .iianiiaitan ni..
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l"enns van a ni.,.s
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20011 I'onusNhanin (l'js lots
".'iiiiii i-ii nn i, loc 1st -in lots
."(HI I'liiln i:icc 1st r.
llHMl I'bila Lire 1st .',.
1000 Hpanisb-Am tl..
Tin.' JI aim iiinumr.il with JI?r..10xP
unit Thus far (his s..k $117 'J Mi
(Kin:
112 1.
oi;
irt
IH
Ml
S.-
1IS
FOREIGN EXCHANGE
Now ork .May !. KorPlRii PM-luinKP
illsplaicil n sninewliat easier tone In
the initial ilcnliiigH tndn.N, franc inhles
Iipiiir ipi'ilcd at 7.0".. nml (lemnnil 7.02,
or nppnivlmntely two points Inuorii
llinii Tiiisiluj's clnj'Ci Lire were also
lower
Tho (pintatliins iveip:
Slcrllni; cables .1. !'$. ileniand
.'1 07!'s ; franc cablet 7.0.'!, cheek. 7 ()
lire cnblc', l.".'!1);. checks -1 fiJII', j
S. i dibles 17.7."i; cliccks 1 7.7(
peseta cables 11.00, checks l,'l 08
B iilbler cables .".." JIO, checkH .'l,V2."i!
Stoi klin'.ni inliles 2.'l..ri0, checks 2.l!-l,"i;
Cliristlanln fnliles l.",-1(l, checks Ifi'.a.y
fopenbiiCPn cahlps lR.,'t,"i. checks IS.,'10;
Ilelqinn i ables 7 O.'t, checks 7.02; marks
1 .."2
The premium on Now York funds In
Montreal 1otn uns II 7-10 per cent.
The inte of ilisiouut In New York oil
I'auadiiiu funds was I0", per rent.
In the afternoon the lone of the mar
ket was irii'giilar. Sterling cables were
.t!l77,. demiiiiil :1.07k: franc cables
i n.f'.i, ciicchs i.iiji.; nre cab es
Kiiilder cables
lIllMxpIll
oauuiuuujMUUBBiaBaua
l!El3fflllJIjaSLK51
B
I
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3
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i
Your Estate
Who will care for it?
Few men accumulate wealth for
themselves alone, but rather for
those who come after them. It is
never too soon, therefore, to consid
er ways and means of assuring to
your heirs the utmost benefit from
the estate you spend a life time in
creating.
The appointment of a thor
oughly capable executor is of
prime importance. A trust com
pany possesses certain well known
advantages over the individual
executor, including perpetual exis
tence and greater financial re
sponsibility. But even after the executor has
fulfilled his duties and been dis
charged, will your heirs have suf
ficient judgment and experience
to use their inheritance to the best
advantage?
If you have any doubts on this score
it js suggested that you investigate the
many possible forms of trusts by which
estates may be safeguarded.
Member Federal Capital and Surplus
Reierre Syitern $10,000,000
EFFINGHAM B. MORRIS, Prttident
ORARD TRUST
coMEunr
IK
?2a
Bar
Charttfd 1839
Philadelphia
irU,
3P
illinium milium innliiiiir
K373ffiCSW
How Safe
are Foreign Bonds?
Those interested in this
subject are invited to send
for our Circular 7318,
Bonbright & Company
437 Chestnut Street, Philadelphia
New York
Boston
Chicago
Detroit
UlllllllllllllllllllMIIIIIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
To Yield 8.45 I
8 Participating: Bonds I
Due April 1, 1931
Tho obligation of nn established company and pro-
tected by assets valued at more than 12 time3 tho
amount of issue outstanding. The bonds participate in
dividends on tho stock and carry valuable subscription E
rights.
Full details on. request
West & Co. !
1411 rlir.tnut fitrrH.
FhlUtlrlplilii Mcinlicm
New York .Stock ll.cluinne
rhllnilrlplilu Slock Ktclmnce
A: llroBiliroy
New York
FTi 1 1 1 1 1 1 1 1 1 1 H 1 1 1 1 1 1 1 1 1 1 Illllllllllllllllllliiillllliillllllliiiliiiiiiiiiiiiiiiiiiiiiins
REFINANCING
A reliable New York brokerage house it prepared to handle
the underwriting of an inue of itock of not less than $100,000 of
established manufacturing or industrial corporations which require
additional working capital or desire to replace bank loans by stock
Issue.
Our organixation has just completed tho distribution of $1,500,000
of stock for a nationally known organization and is now prepared
to handle an issue for a Company which has a satisfactory earn
ing record.
All negotiations strictly confidential,
BOX 625, 906 FITZGERALD BLDG,, N. Y. C
GRAIN
PROVISIONS
Our Dally Ltttir Bent on .'eguett
Hughes & Dier
iChlrnim Hoard nf Trails
N. Y. Produce Kirhiois
I'lillndrlphln Stock Ktclinnrs
rilUlnirih Slock Ktchnnsi
1435 Walnut Street
(Spruce S4S Bsm ISM
Philadelphia
I S7-V .-links l.s
ll.i Jill, iln-rks lli.'.'S; murks. i.,-,ji.
vi:sTi.riuv x n.VAi. qi'otatkjnm
HlfrlllllE I'ninr. LIi-m i 1..M.I.....
PcniHlnl II f7' 7 111 4 1-. ni
din M iid'J T (ill I kh l1s ..-,
"I'l'VVH fiPHMMI urilTATIONs "
x i r II . rirm, I r (JU , r-
.'',. 7 us i , j3 3 ,
OLOHINU fJfOTAriONS
.... a.07? 7,S 4.80 JsiJo
1 1' n n.
ui.le
I f mini
Cables .
Liberty Bonds
Bought and Sold
Edward B.Smith & Co
IkWIUIIUU 1881'
Members ?.w York nnd PhlluittlDbl
Slock Uzclisniss
1411 Cimsr.NUT HrilEUT
PHILADCLI'IUA.
"HUMAN NATURE
THE STOCK MARKET"
It the Tills ol' our Special Letter
of Ibis week.
Write for a tee cojijy. you
ioIIJ find U intereatinu,
MILTON HElMt0
STOCKS-rotUKN DUAHQrlOUD3
' 'MSHaSWS' '
102S Chestnut Ntreet
i'houeni llrll. Hpruco 04.:,S-4
.. Krjslon. Knee 180
14 nroiiilwnv s 40 ntli Ac. N.Y.
Ktamfonl, Conn. Hurlntflflil. fin".
Frederick Peirce
BONDS O ft I.NVKKT
rOB OC VOe MKNT
IIS1 CfceetBiit Btret, FtUUdslpUa
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7
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