r,
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EVENING PUBLK1 LEDGER PHILADELPHIA, WEDNESDAY, JUNE
22
WW)
1921
,(,'.
I-.
'.', 11 J
P.ttW
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I
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If ''
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8
fife
ft
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t'J
:
a
Nv
Bmti!nniii:::iiiiir.;ii:ii;::i:ii::i::ni:i::ii:i:i:
Wiat1 SfocAs
Should Be First
To Discount
Improved
Conditions?
We have prepared data on
several medium- and" low
priced stocks of outstand
ing: speculative merit that
should be in line (or price
betterment with improve
ment in general conditions.
Complete information can
be had without cost by
merely writing for Circu
lar PL-57.
.1
m
,66 BROADWAY NEVYORKi
..!.! BOWUrtG GREEK 4020-23'
y.w;ii.;:::iii:ui;:::i::i;i:,';mn::rii;:i:ii::iiii:i;:ii;ii'J)
ANOTHER
VIGOROUS
St. Louis Southwestern
First Consolidated Mtge. 4s
These bonds have been
on the market for nine
teen years. They arc
due in 1932.
Quoted on the New
York Stock Exchange
at about 63. At this
price they yield well
over 9 lb wr. They have
sold at 84 Vs-
Territory served is
growing steadily in
wealth and population.
For 1920 gross rev
enues of the road were
over 2 V2 times gross
revenues for 1911.
Write for further particulars
Hemphill, Noyes C& Co.
Membtt Nw York Siook Bicianj
Franklin Bk. Bldg., Philadelphia
New York
Buffalo Albur
Boston
Syracuse
Scranton
Ualtiuora
Alabama Power Go.
1st Lien & Rcf. 6s
Duo 1951
84?i & Int.
Yielding Over 7.25 ft
Company serves the so-called
"Birmingham District'' of Ala
bama and owns one of the larg
est hydro-electric plants in the
South. Bonds are secured by
mortgage on entire property as
well as by deposit of First Mort
gage bonds. Net earnings over
2 3-5 times interest charges.
Circular on request
Harris. Forbes & Go
Pine St., Cor. William
NEW YORK
Philadelphia Office
Widened Bldg.
A little behind schedule,
but bound to arrive
The fact that I'enn.-yUania
Railroad stocks and bonds are
now sellmp considerably below
their normal figures should
have but one significance to in
vestors: It presents an un
UHual opportunity to secure
what is, and always has been,
one of the soundest, most de
sirable investments in the
transportation field.
Write for our special analy
sis letter K-21.
J. F. McGOVEBN & GO.
Mfmbers of I'liHn. Stock KirhnnK
1130 JSuullt I'rnn P'l.. I'lillu.
flpmrr (Will Kurr S18H
Orders exrrutril In nil Market
Nrtv nrl. , 33 llroilthtut
Caddo Oil & Hef. fis 1927
American Gas Co. fis, 2016
Georgia Ry. & l'r. 5s. 1951
Kentucky Public Service os, 1941
Land Title Bldg., Phila Pa.
Members I'htladelphiu H'ock KichGngt
RALLY IN STOCKS
Shorts Very Severely Punished
in a Broader and More Com
prehensive Advance
New York. .lunr '2'2. Tim rrrovi-rv
movement wns wrll Nustniu'il In tnilnV
lock tuniki't. tntirh to the tlisriiinlitiirf
of tlie "linrt-", who wore (-ovrrolv intiinliiM!
n'l tlittiugli thr lil The further re
liniinil carrlnl irlrt"t friiin 1 to ! point
in l lie ceiiei-iil I i -1 nhove lint n'rlit'"
florins leM'l. iiiul in vonie of the lilul'h
"prciilnllM' sjiri'ialtli'H, inch us Mexican
Petroleum, (tenenil A'-plmlt, ('rucihli
Steel nml tlie like, the rallie ran from
.! to 11! point. The revrr.ied (twins of
the market n hotly rimtpttftl, Inn I In
hem nppiireiilly hnil lost their grip nml
for the Hrt time in many week the
line of least rcd-taiice was encouilteieil
in tlie riiiic tide.
While the general Tminnhere wn
ilei ideilly more cheerful, the further
rii-p ini lnrgelj the result of to, hnicil
conilitiotiM rnther than bcriluM- of nny
esrntinl change In liuileihlng in
llliences. The hulk of the hujiiig oh
viouslj originated nml n cnnlliied to
the uniiiistnknhle over-extended .hurt
intereM. nml the lenjili of the rnll.v. of
mi;rr. will depend entireh upon the
extent cf the hear ncioinil and its dl
poiitii'ii to comm'. Km cut in one or
two of the re( oynizcd pool iixues. there
t'N little evldi'il'i' of the comevted
tmng iippnrt plen the miirlset je
tenhu In mam i.i-ex tin was no
longer m-ccsary. as the nionientiini of
i In- foiunril -wins had alt.iiiied siifli
i lent -trengtli to can.i it along Mitli
out nny outside inltueuee.
Continued enM'tiieiit of the inoiiev
market ith the iall renewal rate 115,11)1
fixed at ." per cent, and with reports
01 funds tii'i'l) oftered in the outside
nun kit under this rate furnishid n pou
erful impetus to the milieu, hut as
nlnaih -tated ill" chief propelling foice
n -upp'ied from the MMiu-demoialiivl
bear camp. The slmrls wire M'verely
punished in the hroader and moie com
preheiisive advance of the morning, ex
tending as ii did to virtualh stocks
of nil typew. and which disclosed the
bnill oversold condition of the in.ir
ket. Mexican Central Petroleum was
1 lie 1 en tnil feature, lisins almost T
points to 11.1. or l'J points oer its
icient low. In otlur faiinliar poo'
toiks as tifiierul Asphalt. Pan -America
11. Houston Oil. Crucible Sic el am!
Baldwin l.oconiotne there were ad
vances from ." to li points. Steel, equip,
incut, motor, rubber, leather and lood
chares gained 1! to -1 points. The
chemical mm fertilizing shares nlo
roe rnpidb. Virginia-Carolina t'liem
leal ntlvanclng ( points. .lunior as well
as investment rails were nt the same
lime actiM- at smns of 1 to '' points.
In irtuall all parts of the list tlie
urgent covering reu'iilecl a Mirprisingl.v
Mil tit supply of slocks, which, to
gether with the leaching of "stop buy
ing" orders, gave fiesh Impetus to the
inllies. The paucity in the offerings
was confirmed In the market! shrinkage
m the volume of business. Tlie major
portion of tlie morning advances was
accomplished on a turncuer nearly ."0
ner cent less I ban registered 111 the
,nme period jesterdny.
MODEST RECOVERY
I IS' LOCAL MARKET
Electric Storage Battery the
Leading Feature, Disclosing
Scant Supply
While ilieie was no rounding up tit
the short.s tlie lov.il nuitki't turned .iliout
111 line with tlie big hoard and suh,inn
tial recowry in most all the leading
stocks wni scored. Kleetric Storuce
altttcrj w.is the outs-tuncling feature in
a rebound of oxer three iolnts to '.IS,
which wax accomplished on a relatiiely
sinnll turnover and which, in turn, iu
dleuted that 11 considerable part of the
stock thrown upon the market in the
tecent enforced liquidation had lodged
in strong hands.
About the only change hindering mi
the senstntion was the inlly f .1 points
in (ieneral Asphalt, whit li . howevei.
contained no local sipuilicaucc. With
the exception of Lehigh Valley, another
New York stock, other t hnnge weie
In the fractional class PeniisyUiial.i
acted disappointing!,! . getting within a
shadow of the low recoul price of ,'1'Jj,
although later rallied to .'t27i. This was
partlv explained in the announcement
of the passing of action 011 the Pan
Handle dividend until later in the sea
son. While tho affairs of I' (i. L and
Philadelphia Rapid Transit are being
watched with a great deal of interest
it was riot reflected in the action of
either one of these stocks. Hoth were
neglected Philadelphia Hapid TrntiNit
wait a shade lower at 1I1', while I"
(1 I was ) point nlgher at IWj.
Hoth the Philadelphia r.'ectric is
sues continued we I suppine,! ,1 1;
Hnll on small sales diopped " points
fitiin the prei ions sji,, 1.. ..' Auein m
Stores tetiiHini'd timl mid uiicliiiligetl
Sentiment In local ui.irket circles was
much improMMl as a result of die sharji
lebound 111 tue New V01 k mm ket
There was howtwi, considerable di
vision 11' oriiriion as to the perinanencv
"f the impi ovt'iiieiit. The iiiitsta tidini!
trpic of disciiBsioi however, was in
h- remarkable icsooiises to marginal
alls uuide udring ihe iccent ioleui de.
1 lines N'eter in the hNrors of the
strtet weie these demands met so
prciiiiplh and w illnntl.i .
NEW YORK STOCK EXCHANGE TRANSACTIONS
Pale
too
300
000
000
109
700
200
too
100
1 no
moo
too
0200
.101
.100
2110
J00
.'00
400
I t)i)
soo
MOD
I '100
400
1300
ton
no.)
moo
13.110
J100
3)00
000
1.11)0
too
soo
too
sou
too
too
r.no
'.'00
?00
-oo
13700
200
100
t',400
6000
too
ton
2.100
200
mm
400
400
2110
1700
101
1300
21110
1200
1000
1K00
200
400
I coo
s,00
10u
300
too
1700
10,1
700
400
.1000
200
200
1,00
3000
3,11)
100
ton
400
.ISIO
4400
IS ft 00
100
100
.100
300
100
200
4100
100
300
200
7300
noo
100
noo
100
1000
34 40U
Kill
ion
71101)
inn
100
100
200
too
1 noo
300
1110
3011
100
S00
too
100
4(10
Mil
1011
100
too
1700
100
200
2400
too
100
ABO
120011
2000
1100
J. 100
000
200
Ison
1000
Dlv.
in t
nun
. . Aonmix KxpreM a
4 Air Reduction 30
. . AJax Itubber 23
.. Alaska .lunenu O.M.. IS
4 Allied phem A Dye... 3si
7 Allied Chem & Dye pf. hS
4 Alll.s-Chnlmcrs :rl
. . Am Aur c OJiein 17
. . Am Beot Sunnr 20
0 Am Ifeet Sugar pf.... M
Am Hone!) Mngnoto... 34i,S
Am Can in
7 Am Pan pf 7S
12 Am Car & Fdy 110
. Am Chicle. IS
Am Cotton Oil I6i
Am Urns Syn IV
Am Hldo Leather. . It
. Am tilde AJ.enther pf 49
Am Intermit Corp.... 3.13t
1 Am-Ln Frnnce Ung... HJ4
Am Linseed 24'
c Ain Locomotive 7MJ
Am Snfety Itazor. . . . 5
. . Am Ship & Com 7i2
Am Smelt h rtef 30 H
7 Am Smelt & Hef pf . . 70
3 Am Steel Foundries . 2S'$
7 Am HuRnr Itof 71 '8
H Am Sumatra 474
0 Am Tot & Tel Iil2'i
12 Am Tobacco 1 1 7fB
12 Am Tobacco B 110
7 Am Woolen 00
. . Am WrltlnR Taper pf . 27i
. . Am Zinc Lend & Smelt 7i'2
8 Am X.lne & Lead pf . . . 24
. . Anaconda Copper .... 37
. As.rt Realization ... I M
0 Arjo Pry Ooods Int p B2'4
0 A mo Oil 9,X
0 Ateh Top & Snntn Fe. 70(j
A teh Ton ftSFnl
. . Atlanta lllr & Atlantic
. . Atl Gulf a- W 1 S S . .
. All llnlf & W 1 S S pt
. Atlantic Pet
7 Knlriwln locomotive..
Il.iltlmore & Ohio . . .
4 H.iltimore & Ohio pf. .
. Hatopl'.ia MlnlnR . .
5 Ketblehoni Steel U. . .
IX IMhlehem Steel S nf OS
. . Itrkhn Rapid Transit WV?
. . RrUIn R T t'tfH of tlp 7
. . Rtllto f'oper fie llric. 1
. . Caddo Central O & 11. . 10
. . Pa'lforn a I'etrolemn . inJ8
7 Cn'lforiiia Petrol pf. . 71
2 ChI Zinc & Ind 4
70
2'i
2.1 H
20
IX
07!,fe
3.X 3i
4Vi
4 s 14
10 Canadian Pacific ....107
.. Central Leather 3li
10 Chandler Motors 67
4 Chesapeake ,t Ohio... 40U
.. Chi & K 111 l'q T ctf. m
.. Chicago & fit West... 7tj
.. Chicago & lit West pf Ifiij
.. Chicago Mil & St P... 21 t
.. Chicago Mil & St P pf 31
Chicago Northwestern 06 1 4
4 Chlcag-n Pneii Tool... 66
. Chi It I i Pac . . . . 2S
7 Clil R J A Pac 7 pf. 7o;4
.. Chl'e Copper I0'i
.. Chlno Copper 22
. . Coca-Cola 2Hi2
3 Colorado Fuel & Iron. 27
.. Col fi: Southern 30C
0 f olumh Ons fit Klec. . . 631,
.. Col Grnphophonn .... 514
7 ConsolltlatedCltT.tr ... 2454
.. Consolldntetl DIs Ins. . 6T,
.. Consolidated Textiles. 17
. Continental Candv ... 1J,
4 Com Products Ref C4ii
SO Cosden & Co 20J,
4 Crucible Steel &ni2
2 Cuban Am Sugar .... 16(a
.. Cuban Cane Sugar... oyt
7 Cuban Cane Sugar pf. 20
t Delaware 6 Hudson.. 92
.. Denver A Rio Grande. H
. Duluth So S & At 3
6 Kndlcott-Jolinson .... 87J
. . Frio 1 1 14
. . Lne Rt pf IS
. Krle 2d pf 2ii
8 Famous Plnvers L. . . . 60
s Femous Players L pf. hi
4 Federal Mln & Smlt pt 22 i
FlBk Rubber
. . Freeport Texas
. . C.aston Wms & WIk.
. . Genernl Asphalt . .
A General Asphalt pf
H General Blectrlc . .
1 Oereral Motors .
fl General Motors pf .
0 Gen Motors deb 6ri
7 Gen Motors deb 7'
. Goodrich D F. .
. . Granby Consol M & M IS'i
7 Grcut Northern pf.... Ii6i
2 Guantunamo Sugar . . h
. Guif Stato Steel '20
4 Haskell & Barker Car 52
12 V,
134
1ht
120 U
?4
03
70 l2
3014
Homestako Mlnlnij
. . Houston Oil
1 Hupp Motor Car
7 Illinois CVntral
fio indi.ihoma Refining .
.. Inspiration Con Cop.
Inter 1 'on Corp
. . Inter Con Corp pf . .
Int Agricul Corp pf.
7 Int Harvester new. . .
7 Int Harvestir nw pf. 1!J4
Int .ler Marine 10
1) Int Mer Marine pf. .. . 47 5B
InttriiiBt Motortruck. .1 10
1 Int Motortruck 1st pf. 004
.. International Nlcliel
.. International Papor.
.. Inxlnclblo OH Corp..
.. Island Oil ,
. . .lew el Tea pf
Kansas City Southern
4 Kansas City So pf . . .
4 TCully-SprtnR-neld Tiro
. . Kennecott Copper . . .
67i2
6G
mi
3W
32!
Ti
10
as
b'0'2
144
63
12
3 V,
lH
24l
499,
30
I.CIW
30
.10
IV4
3714
86V4
MH
37
20
6614
31 V
26 H
78
117',
16
IO'j
o
4n
36
22 H
7ni4
4J4
IV
36
70
241j
70U
45"?
102H
II.Vj
114 '4
onii
.2714
7'2
21
30l4
1
r.2H
1)4
704
70
2'4
20J2
20
16
06
31
0'4
47U
031;
III
4
ion
3s?,
71
4('s
10p;
33 h
67
475
I'll
iv
lAis
2.T4
34
(16
65
25i
70
tOsft
21 H
21
20 H
30 !2
63U
6
24 H
y
17
1
r,2
2S
6H
IS'l
!V
28 ?4
1)2
H
60
mi
1S4
!2Vi
66
80
22 H
12
13',i
H
48
862
120(4
2
6.1
011-2
702
3') li
lH1
C6
s
20
62
57 -7
5fi
H'4
hS
a J
32
10
:is
314
Mm4
10 'S
47 i,
21 ',
60 S4
49i2
104
3
iH
23?,
4 0i2
37 !i
V,4
Commodity Markets
Philadelphia Stocks
COTTON MARKET
New Vol K. .lune ,2,2.- A bcttci ff,
"hi: c.'ve'opecl in the cotton market tins
iiioriiiiig and Ibeie was a good demand,
espts uillj fui lale mouths, from tiud"
lnterestn. So'ithern wire houses and
Lnerpool. First prices were (1 to ''J
points higher.
ItiiMiiK wan induced liv a tinner tout'
in scurit'es and tlie oversold condition
of the tuple after its recent severe th
cluies Support was continued aflei
the stait and piifts held liriulj at a
little above opening levels.
Receipts 111 the ports for the da aie
estimated at 111, 000 bales, iigmnl
17.0!VJ hales a week ago. lillll bales a
car ago and 'J'J.MH bales two .scars
ago.
1-30 Mot
Clone Chir.
an H
30 .
23 -I 1
m ..
86! - t
32 IV
. r V
io I- l'J
55U-I0K
31 - H
20 1
781
117 Ca r Vi
15-5
ili V
4 Ti f H
11 t 1
40 4- 1
35s4- 1
H
21 1,4 J 1?i
78K I 3
35 - 1 14
70
2.H4 H
7IJi 1
7H- a
I02H
117714- 2Ji
no V 'f
r,i) 4- 's'V
27" : 14
7!':- V
24
37 1
1 V
C29t
95 'V l2
70!2.. l4
70 k 14
V
2i2
3
I
a-i
2Ti4
23 H 1
20 15 -07'4
i
35 r
4914 4
4SH4.
OS
10 .
i
4
4
71 f
iH-
105?4
34. "8 4
67 4
4914 4
t 7'4 4
lfi :
24)'4
31 -0514
'
55 -2S
4
70 K J
10144-
22 i
28
27
ao4f
634
5 24-
54
1714 -'
l
0414 4-2.'i4-
fl8'24
1514 W h
H
3-
67V4
lt'4-
18
1214-
60
81 r
33iJ
t2'4 4
13'i
1 3 ,' Vt
5IW4- i
8514 4
1204 r
94 -t
03
fil'2
7014 -
aeii '-
ISUj 1
115 i
8
21) I
62 i-
57
60 ;-
H
14
1
li
V
Ji
l?
l
H
V
Ik
IV
I I
I1 I
(4
1.4
V
2'i
.1
!e
V
li
2'2
'A
H
H
414
si
3 '4
V
It
'.
"-,
lit
V
4
U4
2?4
O'0
il!4 li
88 r '4
a IS
321,2 1
3',j ..
10
3S f 1 .
85'2 i- 21
nun .
1014 4- (i
47J, r J',
2li- H
0- 114
13S4
6314 3-i
12 -i VA
3'i
1H4 Sj
24tt-t-
45 !- IK
39 f 2V4
18K K
200
99 200
100
200
100
100
200
500
100
200
101)
109
60f)
J 00
100
100
300
200
37600
100
3200
800
400
100
100
100
1600
1400
100
100
400
too
300
100
310
103
300
101)
200
1600
600
too
101
100
Q200
200
300
0300
8000
260
100
7 3000
303
100
1 6 DO
100
300
2100
1290
200
2000
100
200
100
000
300
700
3000
5S0O
200
300
101)
2700
100
100
7900 i
1800
1300
300
300
100
200
1 3500
100
100
300
15600
300
6600
ir.00
300
700
200
27600
70(1
100
100
14800
300
1601)
2700
300
1200
4000
noo
200
1200
2500
400
300
30(10
too
200
3500
500
1400
1500
1700
8200
COO
32000
1400
200
801)
600
1000
200
1000
400
400
700
100
10U0
000
1100
1400
1500
too
200
Dlv.
In I Itlrh
.. Keystone T R MW
6 Lackawanna Sleel . . . ao
2 Lee 'Rubber Tire 25 K
3.60 LehlBh Valley iVt
12 Lbs-gelt fie Myers 143
.. Lima Locomotive pf. . 81
2 Iiewe Co mi
1 Loft Candy C?'
12 I.orlllard Tobacco ....145
7 Louisville & Nashvllle107
0 Mackay Co 0 'A
10 Manatl Sugar 39V4
7 Manhattan Kiev KUar. 43
.. Market St Ry 3j
. . Market St Rv 2d pf . . 7
.. Marland Oil MTi
. . Marlln Rockwell 0
Maxwell Motor 1st pf. 6
12 Mexican Petroleum ..116
2 Miami Copper 30
1.00 Middle States Corn... II
. . Mldvale Steel 23
. Minn & St Louli lOi
7 Minn St V fit 8 St Me. 07
.. Mo Kansas ,t Texas. . . 2
.. Mo Kan A Tev pf Hfi
Missouri Pacific is:
Missouri Pacific of. ... 37
. . Montgomery Ward . . . 18'1
. Nat Cloak St Suit 30
0 Nnt Knam V Stamp.. 4C'4
.. Nat R R of Jlex 2d Pf 4li
. Nov Ton Copper 1014
B New York Central.... ffiH
. . New York C & St L. . . 43
n N Y Chi A St L 1st pf. 6l
1.60 New York Dock 3014
.. Now York N H & H.. 15U
7 Norfolk & Western... 90 Ji
7 Northern Pacific 0714
.40 Okla Prod & Rcf f
r Otis Elevator 13014
(1 Otis Hlevator pf 79-4
.. Otis Steel 10
2 Owens BottllnR 28
.. Pacific Devel Corp. .. . 11 14
6 PacIRe Gas & Elec. . . . 6114
.. Pacific Oil .11 K.
6 Pan-Amer Petrol .... 4914
6 ran-Amcr R 4414
Motor. ,
Pf
Parish & Bingham
2 Pennsylvania R R. . .
. Penn Seaboard Steel.
. Peoples Gas Chicago.
. Pore Marquette
3 Philadelphia Co . . . .
. Phillips Pet
. Plerce-Arrow
8 Plerce-Arrow
Plercw Oil...
6 Pitts Coal
. PittiburKh fit W Va...
Pressed Steel Car
Pressed Steel Car pf . .
Pub Serv Corp of N J .
Pullman
Punta Alegre Sugar. .
Pure Oil
ReadlnK
RcndlnK 2d pf
10
32 Ti
'14
4714
18
30 34
1"14
1
41
9K
66
30
00
83
07
95 Vi
29 K
20 S4
(16
40
Remlnpton Typewriter 19
. . Replo Steel 20
.. Republic Iron & Steel. 40
'. Republic Iron & Stl pf. 79Ji
. Republic Motors 14
20 Royal Dutch Amer. . . !4
.. St Ixnils San Fran... 21 'i
.. St I,outs Southwest. . . 22?4
. hi l.ouLs Southwest pf 31
. . Si.on Motor a?4
.. Seaboard Air Line... 0
. . Seaboard Air Line pf . 10
. Sears-Roebuck 0014
.. Seneca Cop Corp 1114
.. Shuttuck Arizona Corp C14
.74 Shell Transport 40H
. . Sinclair Oil 21 J4
.. Sloss-Sheff 34
C Southern Pacific 71 '4
.. Southern Rail 10J4
7 Standard Oil of N J pflOS'i
2 Stewart Warner Speed 23
. . Stromberp Carb 31
7 Studebakor 744
.. Superior Oil Corp. . . . 5
.. Temtor Corn & F "A". .0
. Tenn Cop & Chem. . .. 7i2
Texas Co 33)4
. . Texns Co 50 ptl
.. Texas fit Pacific. . .
1 Texas & Pac C A (
. . Third Avenue
6 Tobacco Products .
. . Trans Con Oil
6 Trnnsue Wm Steel.
8 Union Bag t Paper
.. Union Oil 1814
10 Union Pacific 114?4
4 Union Pacific pf 05
.. United Alloy Steel 21
8 United Fruit
.. United Rwy Invest..
. . Unit Rwy Invest pf .
3 United Retail Storeo.
.. USCIPi Fdy
..US Food Products..
.. U S Ind Alcohol
..US Realty & Imp. . .
8 U S Rubber 5Sft
8 U S Rubber 1st pf . . . . 9214
5 U S Steel 73!A
30
21
30
13H
53K
8
31 J,
OH
103J3
8"2
19
5SK
4
17?4
5314
40',
. . Utah Copper
, . Utah Sec
, . Vanadium Corp . . .
Va-Carollna Chem
8 Va-Car Chem pf. . .
Wabash
. . Wabash pf A
. . Western Maryland
. . West Maryland 2d pf. I1'4
. . Western Pacific 24J4
7 Western Union Tol . . 89
4 WectlnehQUNC B & M. 44 14
. . Wheeling & L K 8,
. . White Oil Corp. ...
. . Wlllys-Overland . .
. . WlllvB-Overland pf
8 Woolworth V W. ..
0 Worthlntfton Pump
60
01,,
28
2514
71
714
2014
914
H
714
32 K
109
4314
l.n w
Hi
3514
26 K
4HH
143 '
88
1114
014
145
107
4l4
3914
3J4
7
1ST
0
6
107JJ
20
I0H
32 M
10V4
07
3 '
'4
18
35 K
18'i
31
4014
m
1014
on 14
43
6914
30
164
91 4
08
l?i
13614
79 ?4
10
28
tl',4
51 r
33,4
40
414
10
32 K
Hi
47 W
1714
30 H
17
181ji
38 li
9 IS
5114
20
11514
83
07
95 li
28n
2014
(.34
40
19
20
4514
79?i
14
484
21 li
21(4
31(4
34
r,
10
GO
144
(!
10 1
20
33 V,
704
18H
10514
23 K
31
7314
414
10
714
30 li
30
2014
19
is'i
61H
7J
30
OK
1814
1I3
04(4
20 H
101 J,
8!
1
61 i
13(2
16 14
5214
44
56 a,
914
7714
474
9i,
2!4
24)i
5',
'14
30
9K.
151,
24
sfl
44
H
14
7
6014
109
43,
H
214
2
7
3
!4
5
1 :S0 Net
Close Clme,
10(2 1
30 t- 1
2K
48H
143 4
88 -
1114
nji l-
145 1-
107
m-
3014 J
43 f
7 1
mji I- '
0 -B3W
6 I'i
11314 V
20 4 i
to4 ..
22T4 !f
10 ',4 4
07 2 -
4H
18Ji I
30 -40!
41',
10'4 -'-
flfll4 4
43 r
59U -30(4
16H
9IT4
07
r -
13614
r
28
lllj I
51 li
33
48
M14
10 -3214-
714
4' 14
18 t
3H4 -
!4
55
r
4
1;
Ti
n
14
li
114
4
V
Vi
IS
514
214
14
U4
a
14
" V
li
H
l
314
14
14
'4
i
J4
Vi
154
Hi
1
'4
J4
36
08
83
07
0514
29 H
26 '
05
40
19
20 'r
46
31 4
334 0
to f
60 -14(4
14
40?
20J4
3
71
18K
105
33?4
31
7314
4T4-
10 -
714 h
3214
30 '
31HIM4
1!4 J6
13J4-9J1J4
53H 3
8
31 4 3
no -
1814
1H4
fll(4
21 4-
10174-
814-
)
53 (,4
13J4
1714
5214
45?4 K
3 14
7214 h
4914 4-
914
28 -i
2514 4
71 1
4
?S
214
114
4
tr,
1
V4
I
'4
14
4
V
4
li
Vt
9a
K
Vt
I
K
li
IK
3
Vt
V
3 5
1)4
V2
H4
so
1
(4
IK
1
!4
H4
K
Vt
Vi
Vt
14
Vi
0
NEW YORK COFFEE MARKET
New York, .lune -"J. Weakness In
Rio exchango on London and a disap
pointing showing of the Brazilian mar
kets generalh . coupled with piessure
of July lliiiidalion, brought ubout a
die line of 7 to 11 points nt the opening
of the local coffee market this morning
tin iIih decline a prominent Wall stieet
importer took several largu lots of .Inly
apd September.
The decline in Itio exchange. V',
fciutUs the low point touched in .Match.
v.)H. '1'he low record wns in .la.,
20 Vt 4 K
9(4 -r 14
to n
3114 14
80 4- 1(4
4114 r i
8?i - Vi
914 1- 14
?li 14
3114- 1
loo 4- y
43J, f- 34
DEMAND FOR CURB
SSUES
MPROVES
Business Restricted by Few
Offers Coal Stocks Favor
ites Oils Up
New Yorlt, .lune 22. The same con
ditions prevailed in the trndlng'oti tlie
llrontl Street Curb' todov that were
shown In market operations 1111 the
Stock KxHinnge, stocks being In scant
supply, with a pronounced broadening
nf demand, but offers were so sinnll that
business wuh restricted to an unusually
small volume. Price changes in nearly
all Instances were to higher figures, nl
(hough some Mocks were offered down
by the speculative element after ad
vances occurred.
The eonl stocks were in good deninnd,
Wen Alden ranging from -10'4 to 'I I
nml Fnrrell Conl moving up from 12 to
lit. There was a good inintlry alfo for
Southern (,'oal nml Iron, but the stock
was in smnll supply nntl no transactions
were made in the first half of the day.
Cleveland Auto wns one of Hie strong
features, advancing from 2ll to 28.
Amalgamated Leather moved 1111 from
U to Ifi. Chicago and Kaitern Illinois
mndo n froetlonnl gain to UtVi- There
wns n good volume of business in Unl
vcrwil Hum, which made n moderate
gain during the forenoon. Acmol'nck-ingt-old
ntUnmllTH. ,. ,
Oil KtoclcM moved in line with the
petroleum group 1111 the Exchange.
Standard Oil of Indiana, which in noon
to he listed on the Stock Kxehange,
ranged from (I26 to ftflr. Cltien Serv
ice common was traded in nt 118 to
120. the Hnnkers' Shares .sold nt 12!
to 131,6 nml Hie preferred stock nt 4,r
to doty. Maracnibo ranged from 24
to 24. t'nrlt) Syndicate won in better
deninnd and sold at .""s to ts. Guf
fey (illlpspie was Influenced by reports
Hint receivership proceedings will be
discontinued 11 mi rove from S',4 to !).
IM)ff)TKIAI.S
High
Acrnn racklni ,'-'
Amcr l.fMhor 1
A11I0 Kuel 38
Clcieland Auto 2S
Com Flnonec 1
Umpire Kootl HI
FnrrBll Conl 13
(Her Alcjfn Conl -11.
Chicago It I'att III in'i
Perrenlon Tire '
tl H Dlatrltiutln '.'.T
t' H Ship Corp '
U M Httam . . . . .
STANDAKII OILS
Anjrlo-Amer Oil .
aninrt Oil of Ind
1.1
Ill's
t
14
M
20
42
1.V4
12
40'i
k
2.m
A
A
IVi
112 V
11:00
A. M.
14'4
as
28
43
111
10
4II4
ia4
A
15t
I12'
INDKPKNDIINT OILS
Allied Oil 1 4 4
noone OH ,,4 S , '
nonton Wyoming; -V r7.2 2
I'Arltt .stmt . , ,5 . ''"- ,J'
Cities Bervlcc i"M) 120 110 ISO
Cllle, M.rMce "ll" clfn . 13 I2' IJ'f
Cities Hervlitt pref .... I3H 1.1 4.1
Denny Oil A 4
Kile iJaslii 1'et 0 n
Knclneers Teirol ' i '4
Kotleral Oil 1 ' 1
Ouffoy Glllesplo 0, R' 0
Hudi-on Oil . ,A ,.
Int Tetroi . 13s, lSJt 1XV
Marnealbo Oil -'4. 2IH 24W
Merrltt Oil T' Vi lU
Mexico Oil 1 1, 1 ,
Coble 20 IN 20
Noeo I'et 7'. 7 7'4
Omar Oil I '4 1i 1'4
ProdueerH & Itfflnera .... 3 3.
Halt Creek Prod M n". 0
.slmiiw Pet 7 (J'4 7
Kkelli Oil 3J, 3V1 3'i
Texon i tl
tin Texan Oil '4 A V
United Iloyalty 2 2 2
1-!1S, when exchange was .r 11
Vest clone
lulv fl HI
t ptemlpr ,0 "0
December "12
Marth . . .72
Hid.
1 'ptin
ft 3Jfr.:,
.1 llllUl
I) 32W13
u iiriwiii'
Hictn
120 Am Sirs ,V,' ' ..
2()0tAIli-
('hiiliuers :tn'',
r.2Ifn!! .1 1", ;rj
!' Cum Iriu :!-l
UHltCrucible r.71..
::.".'i Klec Stor (K
21 Ml lieu .pu ."il
4 I. eh N'nv. ll.'J'..
!i l'h Val . Id
4!) Pa It It.
HI l'hlln Co
I Mill pf
1!iii 1'lnla Klec
4.",." do pref
-'i F'hiln II T l(l,
2 I'hilaTinc
2iMitSouth Hy
pief
lOOTono Ilei.
HKI I'n Trnc
id nn .
li do pref
:ti',
21
J.-, a.
1
14
ill
!,ov
""
fill"',
:;1
;.: j
117'..
r.t
ti:ii..
in
.T"..
IS
M
Vet
ellife
I
:t2
:i
"J .
H7'j
.'1
in i'4
.1 ti 1
111 tnler .
D 1 Hinder
.1 - nil cry
.Ma 1, 11 ...
ITeMOii 1 00
l'll)M llflHll I- M
, In si, 111 l, jl
. I I 7 J II s.i 1 j 11,1
. 1 j 2 1 12 1.1 1. r.'t
. I J as 12 4 J 12 7 J
12 7.'i 12 n:, ....
21 '4
2.V'..
.-.Il
41
:ui
.'W'i
4!I7S
.".1
21',
-'i -
HP
It ..
1 .'.! r
.",11 T-
4!)7v
Till
'.s, I
h
Cities Service
Henry L. Doherty & Co.
nal, t, O I -HI;
otitic 1 rt nieei i.tj 4 1 - t
S'et ttiange nirtJe li "Mnpnri,,n w
1.1 h ,n N"e Vorl. St'uk llxcnanKe
i'iiiiai)i:i.i'iiiA im.M)s,
7"0 Vtetorv 4-,s
Kkll) Hell Telephone 7n
JKIOO l'hlln Klec int ,'ih lots
UXH) rhlltt Klec 1st .Is
t-Pi
ih last
!)S. II
in:ii
M
III' miter V4 '1
ai 3Si1
BAR SILVER
r in Irfninn t id ty
It' IxFirederick Peirce
McfPS I, O f INVKBT
il- IH ls"si. lsn --s- ., .
, 1 'iMLMktdbtVfs rkiU4tekU
Panhandle Postpones Dividend
Tlie ranh.tnclle flat roid
poned. until later in the 1
nf the eml. annual, divider
at thla tlmH. The compai
2 per cent 1 wmi-annuau
OMit t,t I'anuitniiir itvcki
Co has post-
if. cnnsiircraiion
tiaiiy aeciaren
ineen r7inn;
inut 1 . 1r
ownea uy
I GRAIN MARKET
I Chiwigo, .lune 22 Wheal started jp
' , tn I'-je higher for duly ami c to 1 14c
hetter for Scnteinber. with bhorts cov
ering and Hcuttuied tuiiiiniiRinn hoube
bujlng, while offenn?s weie light and
BCiittered. Hepoit of himj rains in
parts of KancoH were an incentive foi
the buying. n tln-v aie expected to in
lerfttre with hnret work. Itcccipts
ilispei ted .M'htenlin iwu lift v-five car ,
InM j cur, fifteen cars
The ensh market ivhh hu4 with
preinlums eiiclei on hurd winter and
the Hpnng grades Ijtjcal handlerK (
terdnv sold C).KK) bnsbelh new No. 2
hard 'to expoite-s Weather condition's
Hhowcil nn important change. Tho
Northwest had irtualh 110 inliitt, while
U'mperntiircH cuiitintied nround 11 sea
soual level io slulnlv iibme. (Viuntry
olTeilng n arrive modernle.
(iernifliiv it icpnrled in ihe market
for .' 0()(t.iH0 bu-helM if it can arrange
ninetv (Iiijk' cretlit. An a consequence,
mam troders lint believe that uti.v bci-terni'-nt
111 the tinnncitil Hituotion wliicii
I will aid towam c-tiimiisiiiiieiii. ni hm.-imi
liretlitt will also feud to inereiiHe the
ilciiMiid foe gr.iiim
. Corn Ntnrled c to 'jc higher for
1 Julv and '' t V- higher for Sep
i t ember Tinde was fair, with leading
rommlMinn imiiKes imyinui" '-"
way, while offerlngH w;ere llinltcil.
6it opened Vie (o Mr hlsher, with
Rahtern (vhipping infrcsta best buyiyi.
fPTerlnea were BCUiicrciii k 1
LIVESTOCK QUOTATIONS 1
ritutnirgli. I in- 2.' HUGH It- r" 1
2000 had Higher lle.ie IHHMit'i3
henvy and llihl iirktfm Jfl.40HliiO 1 Igs
J U 3d till DO
MIIIKl' ANU I.AMHS Itec-elple "0 tit ml
Hie.nh Tup vhp )3 23. lop limbs JI.'.IH
c Af.Vn.S iieLilptH 12B hnici McjcIv
Top til.
Kllst IllllT.llo, V ., June 22- CVTTI.E
ltei.'lite sill) laud. Stead'. Calves, m
mtelpis, l.Mi head Hleady I51H2
HOliK Ilecflpts. 2400 heart. Htroiltr to
H)c hltihor HeavN HWU.nU. mlxi-d. III r,0
f0 1111, sorkerM, light yorkem and plan,
H C.04I (1. 7ft, rouaha, T2ftiff7u0. etais,
14 .'.lift ft M
hllKEl' AM) 1.A.M113 HeetiPte. 200 head.
Biead and uiictmnuecl.
MONEY-LENDING RATES
M'AV VOKK Itone; on 1 i'I olh , Ukhh
of c.o ltr.ii tiyend mduj at ft p- cent for
ItruInK Jlnl reiieuliir
rilII.AllKI.riUA Call, n per tpni time
0 per cent, commercial pater thrt-u to alt
months. 0 iier cent
.Vols The oro meielv nominal quota
tions, the legal rat" of Intertsi In the State
of Pennsylvania btlnir fined ul H per cent.
Mils premtum and commission. Ume money
for thirty to ninety days Is loaned at 7 to
H pr tent while tommsrclal pnp.M from
thirty to ninety days. Is loaned at 7 to 7't
per cent
DIVIDENDS DECLARED
I'at.fle 'las and KleHrlt Co oturterlv
II 25 on common Juyitble Julv 1ft 10 Ntock of
record June 30.
Central llallrojd of New Jersey, quarlcrls
2 per cnt. payable Auitust 1 to holders of
record on July 20 and usual eeml-annual ex
tra 2 per ceni out of dividends received from
lhUjli-Wllkes-Ilarro Coel Co payable on
lune 3D to stockholders of tecord on June
"7
lunaunk National Hank semiannual 7
nt 1 tent and extra 2 per cent, payable
Trenaue 4 Williams Hleel KorKlnee r!n,.
1 usrterlv of 11 payahlo Jul 15 to stock of
record July ft ..
Ainerlran Piano Co.. .. quarterly W, ot
rent nn common and 1 per cent on pre
ferred, both payable July 1 to atocK of, x
ord June 25, ... .
Tt.n,vivii,ii p.. amt.innul 8 ner cent.
.,..,,.,.. .,..--".. --- ------ ",.- 52
payaoie june av, io siot t. iwm r
N. Y. STATE FJGHTS TO TAX
$17,000,000 GATES ESTATE
Executors of Late Widow Say Most
of Property Is In Texas
New York, .lune 22 Alguiuenl as
whether the cMnle of the late Mrh.
Delora It. (late, widow of John W.
(Jntcp, shall pay the State nf New York
inheritance taxes on SI .1)00,000 or on
$1(5,000,0011 to SI 7,000.(11)0 will be
benttl I''rida. Surrogate Foley .venter
da.v fixed tlie date.
Mrn. Oaten died In New York, No
vember 2rj, 1018. Kxectitois of the will
ItiuiHt her home wan In Pott Arthur.
Tex., and that most of the eHtate.
amounting to almost S17.000.000 is
Hiihiert to taxation Uivie.
Only $1,000,000. representing her
property in New York. Hliould be taxed
here, they contend. The Comptroller
demands payment on the larger sum.
Duying Mrw. (Jute resided in New York.
BEGINS PRUDENTIAL PROBE
New York Insurance Superintendent
Inquires Into Investments
New York, .lune 22 i Hv A. P.)
Investigation of the I'rudentiai I.ifetti.
Riirnnce Co. b.v State Insurance Rimer-
.. , . r .. c, ttii,,.. .'
inienneni iew o. iiiuips wan begun
yedteida.v ns an aid to the inquir.v
which tlie I.ockwood Committee and it'n
loiinsel, Samuel i'nterinjer, ure con
ducting into the housing situation.
Mr I'litermyer, in a letter1 to Super
intendent Phillips, declared the (lim
nnuy invested only a small fraction of
ItM vast funds in New York State ienl
estate mortgages, alllioiigh more tliau
22 per cent of Its jinlicj holders reside
in New York.
Supetintendciit Phillips will inrjitii
into the investments, the iiiiilunlmitioii
of the company nnd the relation of its
president, Korrest V. Dryden, to the
bunks and other Institutions In which
the company carries deposits.
Held as Liquor Dealer
Charged with violation of tlie Federal
law, Adam Aluslnk was anested this
morning nt h'is home, ills S.vramiire
street, Camden He is incused "of hav
ing contraband llipinr nml gin in his
iiosscwdon and illegiillj manufacturing
It, He was arreHied tin complaint of
1'ntroimnn Sepanore, who alleges that
ho ban noticed a number of caller nt'
AIV house lenw iore staggering
M,7ftvtuu(j r XV
MINING
nil Letltte '-
Floston A J10ntlvna m
Candelarla Mlninir 2J
Creston Onld HI
Crescent SlacNanrara, .... s
Dundee Ariz
Kureka Croesus J"
T.?,,rta Ifnlll- ......... !
tloldfleld Florence ....... 23
Gold Kewanas 2
Oold Silver I'lck in
rjold one .... 1-
ltecla Mlnlr.- J
Iron llloesom 1;'
Jumbo Extension
ICnox Divide JJ
MacNamara I'I
Marsh Jllnlnc B
Mother Lode new 4
sjntlOTiitl Tin . ......... ,v
Nlplssiiin; "I's
Noun Star i
Hex Cons
Rochester Mines
an Tnu
Silver Hills of Net . ...
So Am I" It U
Stand Silver Lead
Succesn MlnltiK
TiirMtiDh Jlelmont
Toiiopnh ptvltln
Tonopnh Lxtenslon
Tonopali-JIm Iluller
Tonoiiali Mldwjy
ronopan Aiininn
ToriotMh MUpah . . .
Tonopah Hescu Kula . . .
t'nlted L'it!terii
Vkiorv
West Knu' Cun
White Cups
Wlllierl
IION'DS
Allied Packer s . ..
Amn Tel tls. W
A mn Tel tl HU4 . . .,.
Anaconda Ta, lU'.'U . . . .
Armour 7s
Ileth Hteel 7m 11135
Beth Hteel 7. llUII
Can .Vat Hv vo. 7h
Cons Usa Ss
ConH Textile 7s
Copper KNport Hs, llt'J.t..
Cupper Kxport ss, 1UJ-I .
Copper Kxport 6s, 1U25 ..
Gulena 7s .
tJrand Trunk il'i s
liulf Oil 7s
Humble 7e
Interboio rt 7s
Llbby, McNeill 7
Hoars rtoebuc-k. 7a. M'-li
u .i ..... if. .n r.
.-uijiiirni lien
rt o N V 7s, 10J7
H t) N V ! a
I exaN t. u in
Vacuum 7s .
W'esiern Llec 7s
:'
il
t
17
i'i
t'.
1 A,
!
l's
N
II
1
II
IS
4ftU
H7't
US'-,
:
114 s
iu4
ii.-i'
1110
100'i
lllUCSi
ll0i
IU
ti nj
tlS'i
Wi
11 .',1s
!ISV
77',
li.
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IIHVi
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nsi
lIS's
tun
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U
44
S
h
.
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r,
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1 A
1 A
l'-a
8
11
IA
II
is
3
411',
07 .
lift's
HI!
I) 4",
112
1)!,4
1(10
1004.
10nW
llll
nil".
II31
U3't
nni
r,i.
70
ns
mi's
mm
UK's
n s
1IHI
1H4H
"i
41
2
HI
8
.
an
i A
23
10
11
4
lft
r
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3
4111,
uvi
flft's
IIJ
Ill's
IIJ '-a
MS!
till I
1I0'
inn's
noj,
tut,
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liS-v,
iisvh
77'
IIS
1171a
nilVt
lcil'i
lis'-i
1IS'
Km
US.
FOREIGN EXCHANGE
New York, .lune '2'2. Foreign ex
change opened easier this morning le
clincH were noted In the principal Kino
penn exchanges'. Sterling was ', (cut
off, fi alien t'' iiointH down, hie ' off
and marks Vj point lower.
The rate of premium today on New
Votk funds in .Montreal was 1.1 per
cent. The wile of discount in New York
today on Cnnadian funds wns l'J per
cent.
Central ICiiroptun exchange weie:
Greek. t -Ti ; lliiinaiiian, l.,ri!l; Itulgai
inn, 1.1,"; Austrian, .Ul'i; I'oland,
0li!,i ; Czecho-Slovukia, 1.,'IS; .lugo
Slavitt. .71 Vi.
(imitations vvro :
Slcrliug cahles .'l.7lr's, tleninnd
.I.T.'iTit ; fume cahlea H.O'Ji, cliecks s.01 .
Belgian cahles 7.1)7, checks 7. '.Ml ; Swiss
cahles 111,87, cheeks 10.84 ; Ihe cables
I. OS, checks -1.07 's ; peseta cables
13.35, checks 1H".UH; guilder lables
H.'I.'JO, cheeks HIU.V, Stockholm cables
ISMiri, checks '2'JtM; Christlnnia cables
-;Si, checks 14. 'JO; Copenhngeii cables
17.05, checks 17.00; murka l.-lli:4 .
YKSTIJIIDAY H KIN'AI. Qt'OTATIONH
Sterllns I'Yanca I. lie tiuililei
Demand a.JlU .0 Sim :n i ;
Cables 3 7r,' s Oi ft 02 311 2J
TODAY'S OI'KNINQ Ql'OTATIONH
Hterllng 1'rancs Lire liullileo
Demand . . . 3 7.'l, rf.01 I OT's S'l.lS
Cables .1 71S .1 02 1 'is .13 .'il
$50,000
City of Philadelphia
4 Per Cent Bonds
Due July 1, 1940
Interest January 1 and July 1
Fully Registered
Free of Pennsylvania State Tax
Free of All Income Taxes
Legal Investment for Trust Funds
Price: To Net 4.95 Per Cent
t
Biddle & Henry
104 South Fifth Street
The Information and statistics contained herein have Men
obtained from sources which we liellove to bo rellablt.
Unusually Attractive
Railroad Bond
Investments
Central-Pacific 1st & Refunding 4's
1949
, Kansas City, Ft. Scott & Memphis
Consolidated 6's
1928
Wisconsin Central First General 4's
1949
Oregon Short Line Consolidated 5's
1946
Prices to Yield about 5.80 to 7.207o
Bonbright & Company
437 Chestnut Street, Philadelphia
New York
Boston
Chicago
Detroit
The
First National Bank
of Boston
Transacts Commercial
Banking Business
of Every Nature
Make it your New England Bank
Capital, Surplus and Profits, $37,500,000
Dillon. Read & Co. Interim Receipts
FOR
The Ohio Power Company
First and Refunding Mortgage Series "A" 7 Sinking
Fund Gold Bonds
may be exchanged on and after Monday, June 27, 1921 for
definitive bonds upon surrender of receipts at the office of
Central Union Trust Company of New York
80 Broadway, New York
Dillon, Read & Co.
WE ANNOUNCE WITH PLEASURE
THAT
MR. WILL K. STEWART
hns associnted himself with us.
SCOTT & STUMP
Investment Securities Specialists in Odd Lot
Stock Exchange Bldg., Philada.
BANK CLEARINGS
H.tnk li'itrliiiSH lwl.i comiMictl nn i or
resiioiulliiK Jay lust t n-is .
II'J1 Hun UilB I
l'hlln . $ JTO.liHI Jtll.lltil IRS Jll, litis, ilu i
iiositu ,. r.i iwn.ir.i ti.S'.'s Mm ,-,7 ,m nn,
Brokers Ask Triple Holiday
nrk, Junt 'J? Tlio Otiifrnlnv I'oin
niltl" nf ins Juw Vork Hiotk Kxrhaniii)
,,111 , thla Bfl.rnnmi fin ,h, .,tl,l
ilos on Hslurtlay. July L'. Kivins nnothfr I
tripiH nuiiuny t if titti"ii nnt rftttvpij
tivtr mm slmiRiurvs, priiiiii ih,. fUu
repmsen'Hltnn of aillv iiiPinl.e'a on lbs
tlnur, ii nil hits n'so lifcn npm r. ,, (or
six nut of a total of furit fiht wir8
htmsrs
Mathleaon Alkali Dftfsr niuU.j
... . -"ixatiu
, New York-, Junh 22. -Thj Matlilston Alkali
works, inc. liJ tftdrittl th, dividend f i
1 rerfesnt on koHrrtd stock du it this I
Itlms. I I ,
A Study of
Bond Values
Whether a long term
3ia or A bond sell
ing at 50 or 60 of
its par value, or one of
the new issues yielding
8 or better, should be
purchased, is a problem
the average investor is
meeting today.
A solution is offered
for those who send for
our Letter h 33.
A. B. Leach & Co., Inc.
Invtstmcnt Srcuritita
116 South Fourth St.
Foreign Exchange
Explained
An Inter.stln booklet .$$
In sliaplo lnuas aa 'r,,n ,
subjset. investors an WfJ
men will flnl It of r" ''i'i.Ut
Went fr upon twhi tot Wf.
Wm'H.McKennaHj'
221 S. 151k St. PM!.MpV,VT
Hell Teleplionn wt"
. WMtrrn indlanu B. B. tj G
nln K, H. Consal. IIJ jjji
ins cV FJaetrir ( ?,')
CnntCHsnr . . ., ' I, iMJ
Clil, UK. 4L
IVunsjIvsnla
tlriirral Otis
Vffi"BHLfc..i .ffli"
SAMUEL K. PHILLIPS CO.
AUTOMOBIL
INSURANCEj
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