fflBW.JK,-'- .t Vrvt SFWSMTWJ' KJ tW rw ' - t J yrv's ' tv C ", r n.I'jft '",. :;t- '" ' rr' , " :' ''' i .wr - t '.w'tt1 - v ir rt F i t '. T rH.lIJM- h ' i, i f ! '. , ' . t r . lU f EVENING PUKLiO " LEDEliPHIADEl;PHlA, WEDNESDAY, JULY 13, 1921 ,.'! St) TA J r We Are Actively Engaged fn tho Purchaso and Salo of Pennsylvania Municipal Issues including tHc various Loans of the City of Philadelphia. Wc not only purchase new issues directly from Municipalities, but do. a large volume of business in issues yhich have been outstanding for some time. Whenever occasion warrants wc shall be glad to submit bids for bonds issued by well-known municipal corporations. Our list of current offerings of these issues will be mailed from time to time to those who wisli to be placed on our mailing list. During the past few years wc have dealt in the obligations of the following, including the Commonwealth of Pennsylvania: Philadelphia Pittsburgh Erie Johnstown Reading Harriaburg Allentown Bethlehem Lancaster York Chester Scranton Williamsport t Connellsville Lawrence County Lackawanna County Luzcrno County Lancaster County Adams County Beaver County Berks County Northampton County Westmoreland County Washington County York County Upper Darby Township Lover Merion Township Abington Township Altbona Hazlcton Ridley Park Shenandoah Juniata Shamokin McKecsport Wilkinsburg Media Moncsscn Mt. Carmcl Washington If wc can be of service in appraising estates; advising municipalities in regard to the issuance of their obligations either for municipal or school purposes; or submit ting lists of available Pennsylvania Municipal Issues free from all taxesboth State and Federal (except inheritance taxes), wc shall be glad of the opportunity to do so. 0 Biddle & Henry 104 South Fifth Street SIBIL j00S SrvVfnfMT r mv MnSI HUH I Wm&Em 1 JlHHIRPiS Ball 'lillflliiiwifeSfl jiifS mE& W&Bm I iMllliMi MBB.UBBBI1 JiKjTTvSff WsfBtaiSfliiB if ri i flL P I "ill Til '111'1 Ml Some People May Think that this is no timo to advertise your wares, but we do not believe in that doctrine. Because business is dull is no reason why we should sit down and wait for it to come to our door, and perhaps no time is better than now for making your banking preparations for the business that is sure to come, though some what delayed at present. Tho door will not open unless you push it, and we cannot become acquainted with you unless you coma to see us. Why don't you do it? Wo offer you good service and helpful advice and a welcome. We arc in a convenient location Opposite Broad Street Station Tlnird. Organized 1863 Foreign Exchange Explained An Interasttnc booklet explaining In simp's lanruago an Important subject. Inrtstors and business men will Sn4 It ot treat value. Sent free upon request (or booklet WnH.McKenna&Co. 221 S. 15th St., Philadelphia, Pa. Dell Telephone i Locust 1718 WIEGHER,R0CKY&C0. Certified Public Accountants Drexel Building, Philadelphia FINANCIAL. ituy ' STrA" f Refund of Pennsylvania State Tax Collecting tho Pennsylvania State Tax from corpora tions who have agreed to refund it to their Pennsylvania Bondholders is a troublesome process to many, and tho benefit of this agreement is ofton lost through failure to make claim within the time required by tho corporation. We shall bo glad to relieve you of as many of the necessary details as possible. If, when paying your personal property tax, you will send us a list of all bonds on which you havo paid said tax, tho amount of tax paid in each case and the numbers of the bonds, we will fill in and mail to you for signature the blanks required in order that you may obtain the refund. You may return tho blanks to us and we will forward them to tho respectivo corporations. We shall also bo glad to keep a record of the numbers of your bonds which in future years will enable us to prepare the blanks on advice from you of tho amount of refund claimod. Harrison, smith & Co. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA LOMBARD 6100 FSVWWiW MAX mu, fc'lv accordance with n resolution passed y &? Council of the City of Philadelphia SPlI TiStifi'lSlr.u,jr I' " thi following SiL'i f " "? An ordinance to authorize the one i muiinn 2. IB,rJ,!no? loan not eiceedlnc ?i 20 ii in? 5K8 hunda " ttty thousand lr.it?.iS0Jt "V" J?T. ,h Purchase nnd ehinJrv ' , ?'nt- bu'Wlnae. urounus. ma Sui?JFVJq.ni!,"nV,t ."nd "PPurttnancen re collion0r .'? e,l?nl of streets, and the and irh.And dl,poeat of ashes, rnbbleh SHrii'f'r"5-0 for 'be ent re c ty." la herebr published for rubllo Information. WILLIAM II. FELTON. Clerk of Council. AN ORDINANCE Toio?nl!!2.rlM -"!f.cre,-lon ..o.? n emerencT .v,i ii... .u""""."'J; """ion iwo nunared and fifty thousand (1.SS0.P00) dollara for no purcnaee and erection n nt.m hnii.i lne. arounde. machinery, equlpme'nt end SFP.U.rrV.ntnc.e r.i,u,r,d V hS cleanlSS Sf I;WL,,,.?i?i?i Lhe e"tlon and dlmoaal ?lre city rubblb and a'baw for Uie en- t.K,ei'Snn1, Ti". Council of the City of Phlladelph a ordalna. That an emerency havlnr or en' maklnB necee.ary additional appropriating power, the City Treaaure? FTnanc.h,b."Ui35f1"r110,n f "' CocT.""."' Vn i inane, ot authorised to creftte An mN ot iny city of rhtlade phla. In a eum not ,?,""" h yV. t one million two Ur1dr? ?nd nftvu thousand (1.200 000) dol ,rnAi.r ,h oufch"e and erection of plant, building, arounda. machinery, equipment and appurtenancea required for Uie cleanlne of ftroeta. andthe collection an! dlapSSf of aehee. rubbish and garbasa for the et'? GOSSIP OF THE STREET Councilman Hull's slnitjcering ga; 1)111. IWmlncr tin rlll.af norldll of Ino proposed municipal legislation look n to relief of tho U. O. I. Co., re calls n number of other instances which nenrly upset carefully prepared plans, and yhlch has becomo a prevalent dls ' ease in cornoratlve experience ana which Is generally dubbed as "clerical tupldlty,r or "anemic diplomacy." In discussing the Incident yesterday, the president of ono of the larger financial institutions stated no end ot trouble has been given both largo man ufacturlng concerns and corporations inrougii the lack of tact of some Drain less clerk. "It recalls," ho paid, "an experience of a president of one ot the largo up Stnto national banks who, with his wife, makes trip to this city twice a yoar to purchaso outfits for their kid dles for the summer nnd winter. Last spring, while making these semi-annual purchases, they wero unablo to obtain certain sizes nnd color of shoe", but vcrc informed by the merchant tho Hlioes would bo shipped direct from the factory. They were, and one of those same cracked -brain clerks shipped alone with the shoes the bill which should have been mailed to the merchant. The factory price was $0.50 a pair,' while tho store price ran from 818 and up ward. Talk about a hot individual. Ho struck hero on one of the coldest days of later winter, but his temperature wns of July register. All caused by a stupid clt-rk whose gray matter did not con tain an ounce of diplomacy." Whero Ignorance Is Bliss Thcro Is no place in tho world where more curious thlngi nro done, or whero more curious things happen, than In tho board room of tho avcragetrokcr's office. It's a case of a paradoxTtlmost each succeeding day, whero the brightest minds are found to bo totally Incompetent to measure and welsh the temper of speculative Interest and where ignorance and Incxpcrienco arc often tne big winners. Standing In front of one of the rail road depots con be seen every day a cripple Belling newspapers, morning and night. Ily reason of pity excited by the helpless condition he has for some years been doing n thriving business. The story would end there nnd every body would be ready to slap him on the back for his energy and enterprise. Nobody, on the other hnnd, would pic ture tills same individual ns one of the most successful operators In the largest uptown commission house. Nevertheless. hi Is. nnd for more than n year, according to the testimony of a tnptnhpr nf tho Urm In. linn hiin nn the I right sldo of the market when some of the shrewdest traders have been groping in the dark and dropping count lew dollars by their inability to read the real trend. In fact, his account was the only one on the books of the firm to rcqulro additional margining. The profits He experienced speculators turn green with envy. lightened Too Soon "Seems to mo," said n broker yes terday, "after reading tho announce ment of President Harding's opposition to the proposed import tor on foreign crude petroleum nnd refined products, that tho market community, ns u'tmal, had gone off half cocked over the Mex ican oil question. Perhaps, after all, the., big benre over tho oil tax was merely nn incident to an otherwise un tenable condition. When I rend Con gressman Longworth, chnlrman of the sub-committee of the Ways nnd Means Uominltteo of tho lower House, ex pressed the belief tho proposed Import tax had slim chances of being Incor porated in tho new Tariff Bill, I con cluded that much of the professed ap prehension concerning tho Mexican oil situation was n clear-cut case of sand throwing in order to dim the vision nnd cover up a cleverly conceived coup, or to hide the disagreeable sldo of an unpleasant financial nutopsy. No doubt n whole lot of rcspon-ible American oil interests nnd a big bunch of irre sponsible oil fakers would like to we the import tnx incorporated in tho new Fordney Tariff Bill. In many sections where tho oil boom struck hard within the borders of the II. S. A., there hns been glaring overproduction. Now the best way to correct a growing nnd un profitable venture of course would be to stop the importation of oil from Mexico nnd elsewhere, or tnx It so high om to mako importation unprofitable. Liooks to me as i the rresiaent is NEW YORK BOND SALES Am Ar A Ch TMrot i 68 U 1 0BU 1 05U A S a Id 0a 1 704 1 70U Amn T & T ell 1 JSH 0 4 78 Amn T A T S 8 B3H 2 B2U Amn T A T fle (SALES IN 11000) 07 H P7H 07 H 07 H 07 t 07H 07t W)wlal Xotteea B.. 1.. 1.. 7.. 1.. 6.. 5.. Arit'e nep'e 5s B 69 1 08M Armour H 1 78K 1 77 2 18U A T St B Te aj 1 70tt A T'S ?e 4 2 7flh 2 70H A, A Danv lei 1 no Atlantlo nef ct 0A 1.... ioou 2.... 100 Halt A Ohio cv 2 08V4 2 0Si 8 08 Dalt L O S'4 1 SSW 1 fiflH Halt A Ohio Be 1 70S 3 70S 1 71 Halt A Ohio Hi 2 BStt 3 sen n a o r u u A W Va 4a 1 04H 1 BtS Hell Telephone of Pa 7a l.... ioa s 104 Oet'm Hteel M 2 81'i Dct'm Steel 5s 2 75 Hrkyn It T ' 1 40 1 40 1 40 Brkyn U K 1st 1 C. Bunti Dld'ir .1 1 7. C N'n Otis wl 00 20. 3. 3. 1. 0. 20. 40. 1. 2. Canadian N 7s 1.... 101H 8 (a 8) 10014 1.... 101S Ctl Pacific 1st 8 73H 5 72H 1 72t; 1 721 1 72S Cerro de Vasoo Copper 6" 7.... 108W C A Ohio 4Ss 2 73T4 C A O cv 4 He 2 70 C'k A O cv Be 1 81K 1 BIS Chi A Allon 3 .1 43 5 48M 1 44 Cht n A Q arm S 77V4 2 77H S 77V4 1 77 CIUQ OHs ""' Speclat Notice te BtoekhoM.r. Votlea Is hereby Blven that, b? Veao !u tlon of the Board of Dlrectora of the oS II. Uuchunan Company, a apiclal rnlf5! of the .toclchgld.r. of the ealdTomPan;w?ii be held on Friday, fleptembtr 0, ipi w.' Si:30 A. St.. at the principal orflei & ' thi company. 418 Sansnra street. Pnliadelnhi to take action on the approval or dlsawrS: val of and to vote for or against the pro. posed Increase of the capital atook of JiK corporation from Jll.l.oiio to tiso.ooo CJIAHLK3 L. KINSLUY. cAnnoLU it. willumS7- Solicitor. DlTldrnda TIIK lirNTINCIIMIN ANT) IIROADTOP MOUNTAIN KAIMtOAU AND COAL CO. 80 H. 10th st. . July 11, 1021 The Board of Dlreotore haa this day de- I USA " d.HdI2e "' "..! . " "ww " ;:w (-".. .i oi inia com pany, payable on and after Amruat 1. 1821 to stockholders of record at tho does of buslneso July IB. 1021. Checks vrU? b mailed. A. J. SMILBT, . Traurr. THE L.VND TITLE ANTI TnUST COJIPANY June SO. 1021. "'" Capital IS.OOO.OOO.oo ?urplu 9, 000,000. 0(1 Undivided Prolts 882 014 4H The Board of Dlrectora of The Land 1 Till, and Tr'Jt Company has this day declared Quarterly dividend of flvo dollnra Srf ahan payable Amcust 1. 1021. to stockholders T n f Fecord at 8 P. M. July 14. loaf a,r" of Linvi.4 p. QEiaitn. jn . July 12. 1021. Treasurer. OFFICr. OK Till! REAL rSTATK TITI V INHUBANCK AND TltCST COjh'Ais" 823 Chestnut st, '-' Philadelphia, July 12 10nl A quarterly, dividend ot $3 ir alinre haa been declared by the noard of Director pay able Aueiiet 1, 1021, to stockholders f of record thie date. Checks will be mailed. DANIEL HOUSEMAN, Treasurer. Office at tiik rNrron oa ivvnoiiarnNT en. N. W. Corner roaf ,nd Arch St..0 Phllsdelp.,ia, June H. lnul The .Dlreowrs nave tms day declared a liiiiV on -rt;"mmon Jtocu irh.""e frt VI. (mon ?'"' aft h ,h '" : bus nssa Juae . 1021. Checks will be mailed. I. W. JlOnniB. Treasurer. tiik """.ssEaiAffisif viuo,nm ii.,Mani nr una hiiu uiaviinir 1 1 a i Tho st National Bank ' cm, . of Boston t . Surplus nnd Proats 37,500,000 HEWBUHGER, HENDERSON & LOEB Members New York and Philadelphia Stock Exchanges 1410 Chestnut St. on the preferred stock of the company fSr the quarier ending- June 3.0, 1021, niyahu AURUslsi. 1021. to stockholders ofPreV, it "be close of business on Auaust 1. l2l ' v, ii, HAnvEy, " rittsburth. July 1. 1021. Beir'"rr. OIFICK OPTHK PKNNA SALT JIKO. Co. At a nisetlnu of the Board of Dlreoiors hell this day a quarterly dividend of tne .h,i niie-hrtlf oer ei-nt was dec ar.l ,,..V.r July IS. 10. tp atopkholdera of record June SO. 1021. CbeoUa wUl be mailed. "" . . . . h AiIM.lTJ,.I INMBM, coiiir to get pretty mucn cvcrytmnir he wantH from Congress. He does not favor the taxing of oil, so that ends the story." Future of Silver One of the finonclnl news bureaus yes tertlay published both an Interesting nnd enlightening review of the silver market situation furnished by Samuel Montague & Co., the well-known Lon don bullion dealers, who nre In n good position to mako nn extensivo survey of the silver outlook, nnd is worthy of reproduction. The article follows: "Trado demand for silver Is almost non-oxlstent luxury trades are begin ning to feel the stress of the times nnd the pockets of many spenders are not so well filled or the owners are not In clined to part readily with the contents. In other words, caution is the mot d'ordrc. , "Hehlnd, however, the apparent steadiness (helped by lessoned produc tion nnd United States purchases under the Pittman Act) looms tho possibility of unseen and powerful factors arising out of the European demonetization of the metal. Tho chnnged attitude to ward currency acts In two ways; It prevents fresh purchases on behalf of mints and it places from time to time supplies on tho market of more or less importance. "Tho Frankfurter Zeltung refered In Its Issue of Juno fl. 1021. to n stock of 1,000.000 kilos (a2.iri0.000 ounces) which the Reicbsbonk proposes to pledge with the object of obtaining funds for the discharge of German obli gations due on August SI for repara tions to the Allies. The collection of the silver frum the various branches of the Helchsbank may tnko some time. Various banks are said to have been approached in Kngland, America, Hol land. Sweden and Switzerland on the question of advancing the money. The difficulty of enslly disposing of such a large accretion of silver seems to bo the reason why the Idea of borrowing Is entertained, rnther than that ot attempting nn immediate sale. Ob viating, also, the reduction of tho qual ity of British silver coin from .1)25 to .M)0 Is resulting In u surplus stock of silver, Whether one or other or both of these substantial accumulations be realized and it is difficult to see why they should bu held unsold for an Indefi nite period the fact of some sfrty or even eighty million ounces of demone tized silver being held in abeyance Is a serious factor In estimating the sterling value of silver. Notwithstanding an undoubted shrinkage of supplies brought nbout by the higher cost of mining and by tho operation the Pittman Act. bull operators will find it difficult to avoid the sensation of skating upon ery thin ice." THH TKADKK. Raw Sugar Market Steady New lork. July 13. The raw surar m Vet waa quiet but steady at about 4H cents, c. I. f,, b.ale Porto Ilicos. There were no salea yesterday other than1 those roporttd. Cable, advices received from Havana showed that some mills i there still are xrlndlnn this irar'a crop. The total of suvar arouivl has ben lortMr thnn last year, although aomo. what amalbr than recent, estlmniaa. The total production tpdatn Is 8. 803. BOO tons, as "t ions last year. Tne B0 B0H BOH 80S 50 50 50 G0M B0 50 ; 00 07 00 00 00 07 97 07 U 07 8 1 I 1 3 1 S 1 i 8 1 1 Cuba Bd Co 6s 2 04 8 03 Del A Hud fd 1 78 Del A Hud 4H 1 07 Denmark Con ct A Si 1 00 1 00U Denmark Con ct II 8s 7 00 1 (a 0) 00 R (a 0) 00 2 HOH 1 00S 3 00 Den A It O fd 8 41 5 41 Det Edt 5s '83 1 88H Det Cdl Co 0s 2 88 D Match i 1.... 103 2.... 103 1.... 103U Do Canada '28 4 01 8 OUt Do Canada '20 4 01U 3 01S Do Canada '31 1 87 D De Nemours Pwd'r 7a 2 07tt 1 07tt 1 07W Dui Ltiht Os 1 om 5 01U Erie II It cv D, 1 42W Crle lly Co 4 3 B4W 4 54 1 84 One'! nleo 3 2 80 Oeno'l Kleo fie 3.... 101 Ooodyear Tire Itub'r 8a 3 09S 2 00 IB (a 7) 00 W 1 00 11 00S 4 09S S 00S 1 O0H Oove't Trench n 7'. 4 a rcta Mln ai St L 4a 4 80 Mo K A T 4a 11..... S0V4 10 0OH KKtl 4Ha 12 88 Mo raoiflc ad 7 07 Mo Paclfio 4 s 1 58 Mont' a rwr 6s 8..... B4 1 SB New Tk Ctl 0s 1 00 2 00 IS 00 a 80 1 80 8 00 New Tk Ctl 7a 5.... 101 1 ....101 1.... 10IU 1.... 101 1.... 101 2.... 101 1..,. 100 Jjinerty zu lyis.. ht.iio N Tk Cenfl Liberty 3d 4is.. 00.08 Shore 3a Liberty -Jtli -i's.. 87.12 vie isotes H'yis... IIH.HO Vic Notes 4?Js... 08.30 Oove't P It 8 8... 1... 2... 1... 20... 17... 2... 5... 18... 8... 1... 00 00 09 00 00 no 09 0014 00 00 00 00 03 00 OSS 08 08 00 00 Iromoarrrt with 8 Chlcasro Mil A St P 4s '28 2 71 8 74 B 7t Cblcas-o Mil A StP cv 4a i em Chicago Mil A StP fd4V4s 1 00 1 80 Chicago Mil A StP cm 4s 0 78V4 0 78 Chleat-o Mil A St P cv Bs 1 05 1 85 C A Nw'n 8'is, 8 044 C A N W B 1 00'i 1 im 4 00 Chi II I A P fd 8 011 2 00 8. ... 00 Chlcaco Union Stn ct 4i 2.... 108 1 103 Chi A W I 4 3 S0V Chile Cop'r 0s 1.. .. 71 Chinese Oove't Itu-lC By Be 8 48 C I A St L Bs 2 784 City Heme 8s 14 0S 1 08 7 08 1 0S Cty Chrls'n 8s 1... . 084 City of copen. hmen 5a 1 70 B 70 City Lyons fls 2 70 C N Vk 4W'C10 1 83, C N Tk 4'03 0 80 City Paris Ms 1 00 8 . . . . 00 8 .... 00 City Zurich 8s 1 08 1 .... 084 1 08 1 00 Cl'd Cln Chi t at L arm 4s 1 07 1 87 2 07 Cl'd Cln Chi A Rt Louis 0s 1 88 2 88 Colo Indnat 8s 1 72 Colo A So'n 4s 1 ... 81 8 ..81 Cnns'd Qaa 7s 1.... 101 8.,.. 101 2.. . 101 Corn Products It Co Bs '84 2..., 00 Cuban C H cv 1 01 N T Chi A Ht Louis 4a 1 78 New N 11 H ft Itart'd 0s 1 60 N T Tele 4a 1 80 N Tk Tele Ca 1 02 1 02 1 01 Nf k A W cv 0a 4.... 101 1.... 10214 North We'n IJ Telephne 7a 2.... 100 1 00 2.. 1.. 1.. 1.. 1.. 2.. It.. 2.. 5. 100 100 100 100 100 100 100 00 100 05 06 03 05 95 OS 05 03 OS 03 08 08 3.. 1.. 0.. 4.. 8.. 1.. 1.. Od Trunk rets 2.... 100 4.... 100 2.... 101 iO't Falla V 6 1 88 O Nth Rly 7f 00 09 09 00 00 00 00 . N Paclfio n 3s 3 84 N Pacific n 4s 2 75 1 75 1 (a 10) 75 N Paclfio II lis 4 08 Ore & Calf Sa 2 69 Oreron 8 L 4s 1 81 4 81 0 81 Paekftrd Motur Car Co 8s 2 054 Pa R am 4s 4 75 1 70 1 704 Penna It It Bs 1 844 1 84 2 844 Penna ltd 0s 8 07 3 07 2 07 1 (a 7) 07 1 (s 7) 07 O K of O Orlt ft I'd 1020 S 88 1 88 80..... 88 2 88 ! 8SH 8 88 1 884 UKofO Itrlt A I'd 1037 8..... 83 2 BB 2 83 2 88 2 (s 7 88 8 85 4 83 U 8 Brull 8s 1... 1... 4... 1... 07 07 07 07 97 07 07 07 07 07 OS 1. . . . 2 2 1 1 1 1 U B Mexico Bf 1 44 U 8 nubb'r 0s 1 78 1 78 2 78 U H Hub 74s 5 00 1 094 U'd 8 Bteel 5s 0 04 10 04 1 04 Utah P A L Bs 1 76 2 70 iVo-C Ch 7a 1 B0 2 80 1.' .. 604 Wabash n 1st 1 844 Wabash It 2nd 14 7JH Wea'n Eleo 8s 1 06 West Shore 4 1 71 a 71 We'n Union 8s 1 8B W A E Mf 7s 4.... 1004 8.... 100 1.... 1004 1.... 100 V'-U A E'n let 1. Illth Liberty .IVa 80.4(1 Liberty 2d 4s.... 811.1)0 Liberty 1st 4,s.. 87.30 Liberty 2d 4Vis.. 87.00 7xiv 80.40 80.80 87.00 8(1.00 00.02 87.00 08,24 08.24 47 11 A. I 80.40 80.80 87.18 87.00 00.02 87.10 08.30 03.30 os 08 00 08 08 08 08 08 08 00 08 08i 08 . 0B 08 08 08 081, 08 . 08 08 Hud A Man t' 8 flOK 5 em l 00 1 flflV Hud A Man Ii 81 8 1 6 6 1 20 1 1 6 1 2 1 0 2 1 1 1 2 8 1. aw. 4t' 41'-. 4U, 41V, 4m 41', 3.. 1.. 11.. 1.. 1.. Ill Cenfl B 8 S8i Intboro n T f 1 35 85 BS' 1 63 I M Marln 0 1 70 Jap Govo't 2n 1 83 Jap Cloven' t 4 4 89 ' Kan C Kt S . Memp 4a 4 C3 2 03s Kan C A S 3 1 571 Kan C A 8 3 20 75 1 75 ' IC C T Rl 1 71 1 71' Kelly SprliiR Tire Co 8s 2 04' 3 01' 4 01?, 3 .... Pv K nelvlum r 1 03 K IJelB'm 7 '4 07 07 07 07 117 7 u. 07 1... 3.... 0.... Penna R R 7" 2.... 103 1.... 103 1.... 102 Phil County ct 1 07 0 07 neadlna Ry 4s 1 (sale) 78 1 73 2 73 1 74 8 73 3 74 3 74 Itep Chile rets 23 (a 7) 03 12.... 13.... 1 . 3.... 06 00 00 00 00'. 00 00 00 00 08 00 00 00 00 9 . 1 . t I. 5 . 1.. 1. IB. 4.. 0.. 1.. 5.. 1.. 1.. 6.. 3.. 1.. 1.. 1. 1. 1 ... 11 sou no 00 60 ino 100' 1001 inn' loot- 100 ioo, 10llk 10ft inni. 1001 1001. K Uels'm rtt 1 W 3 00'r 1 .... 09, 1..., 100 2...., not. l una. Klnrdam Den mark ct 8s l.... ions a.... loos l.... mov 1.... 100, 4 lOD l. Klnsdom Nor way ct 8s 1.... 102H 1.... 1021, K Hweden 0 8 83 1 83 Lack Steel 'a. 04 LEA Wn 1st 1 70 'J Lake Shore l S'n 4s '28 5 84 Lake Shore M S'n 4a '31 31 81 2 81 0 81 2 81 6 81 Let) Val 4s 1 83 L Val en 4s 3 7SU Lorlllard O 7s 6 107 Mex Petr'm fls 01 Mid a A Or 5s I....'. 70 1 76 nio Qrande A Wn clt 4s 3 .... 30 tocheeter A Pltte'h en 1 00 t L I'n Mt A S'n Rwy Bs 3 .... SS 't I. A fl V al 3.. .. 80 . . 00 ... 8(1 . .. nc4 tSFIn . .. 34 . .. 84 . . . 54 . .. 64 . .. 64 t L A H Fran Series A. 2 00 1 00 8 .... 00 2 00 1 .... 00 t L A S Tran lories C 1 .... 87 I I" I A Sioux '"lly 7 1 ... 02 io Paulo of 'traill ct 8s 9 . .. 05 7 . 05 1 (i 7) 1)3 nb'd A I. aj 2 . . 25 4 . . 20 3 20 3 . ... 20 1 ... 23 'iibM x I.fls 1 48 Onclalr C Oil Corp'n 7s 1 01 1 01 I. lit r .... 01 3 .. (11 1. ... 01 1 ... 01 1 . .Ill -'n I'nclflc fd 1 . .. 75 3 73 3 .... 73 5 75 'ii n Pao ev 4s 1. .. 78 1 . .. 78 3 I.. 78 S n Pno Term 2 71 6... . 71 Siand'd Oil of Cnllf'a, 7s 1.... 102 1.... 102 2.... 102V. Swlti'd Con R 4 105 5... 105S rhlrd Ave nJ ... 30 30 Tidewater Oil Co ct 0s 13 .... 01 1 044 Union Tao cv 1 .... 84 Union Pac fd 3 ... 78 Union Pac 4e 4.. . 80 'I Union Pac Us 1 ... 08 U Tank Car 7s I.... 100 U K of Q Drlt A I'd 1022 07 22 ,,, (17), 1 07 1 87 1 07 ft Alii Price history of every stock traded on the New York Curb Market and In Boston, San Francisco, Salt Lake and other exchunges Is given in the July itiut of 'TRICE RANGE" This new booklet, tent on re queit, gives high nnd low prices for last month and the years 1019 and 1020 j par, capital, dividend- rate of more than 800 securities. Call, phono or xvrite for TU-4C3, no charge. In our Board Room, you can get latest quotations, market news, and rep resentatives will gladly answer your questions about stock transactions. PHILADELPHIA OFFICE WJDENER BUILDING Telephones! Bell, Locust 4730 Keystone. Race 6881 BALTIMORE OFFICE 433 EQUITABLE BUILDIHO Telephone I St. Paul 8451 Direct Private Wires New York Chlcaco Boston Philadelphia Pittsburgh Detroit Baltimore Cleveland Jones & Baker Member New York Curb Market PRE-WAR PRICES? Whether industrial deflation has run its course or whether the general scale of prices is to return to a pre-war status is the subject of an extended discussion in the current edi tion of our weekly review. This review comments upon the real meaning of the pres ent crop situation and con tains suggestions as to in vestment selections. A few extra copies are avail able for interested investors. Send 2c postage for Circular No. 103. MOODY'S INVESTORS SERVICE J0II.V MOODT. President 1124 Real Eilata Tr. Bid;., Phila., Pa. New York Boston Chicago Greater Confidence At no timo since 1914 could appraisals of property bo made on so sound a basis as they can be made now. Investors, therefore, are ablo to buy bonds with confidenco as to thoir safety because of more stabilized values and in terest rates are still very high. For a definite suggestion, write for Circular L-34, which describes a Well protec ted bond of n large corpora tion that is a recognized loader in its field. A coin)limentary folder will be sent to any investor ' on request A. B. Leach & Co., Inc. Investment Securities 115 South Fourth St. Tax Refundable in Penna. Dayton Power & Light First Lien & General Mtge. 7's March, 1923 To yield Company nerves u hlghly clevelopert and diversified In dustrial territory coverlnu Dayton and seventy other towns. UurnlnK for pant tventy yeurs hiivo shown u steady growth. Sonii for deocriplivg c(rculir Blodget&Co. Real Estate Truit B!dg.r Phila. Boston Chicago New York Walnut 1000 Race 4369 HTHE surplus and undivided - profits of this bank four million, iout hundred thousand dollars represent earned money solely. Central National Bank of Philadelphia t Chestnut Street at Fifti Capital $ 1,000,000 Surplus and Undivided Profits Earned $4,400,000 -J" I, 1 uujjnj "Strength and Service" TRAVELING with DIGNITY The Tradesmens Letter of Credit, placing two thousand leading foreign banks at your disposal, with money, advice and guidance, is an Introduction alike to foreign banks and ho tels, and to people with whom you may become acquainted. It establishes your standing in communities where you are unknown. TRADESMENS NATIONAL BANK 431 Chestnut Street, Philadelphia Ft'rsfc of Pennsylvania' b national banks to i3sue letters of credit on its own foreign correspondents 'immtrrrm We offer subject to prior sale: STATE OF SAO PAULO, BRAZIL Sinking Fund 5 Gold Loan of 1905-1944 Wo consider this ono of tho most attractive South American issues, due to tho following unusual features: J. A direct obligation of the State of Sao Paulo. 2. First lien on 1009 miles of railroad with all equip- ntcnt, stations, etc. 3. Payable principal and interest at option of the holder in French francs, Swiss francs and Pounds ster ling at fixed rates of exchange. 4. Redeemable through cumulative Sinking Fund by annual drawings at par. Price and further information upon request Our ForHpn Department ia equipped to handle all foreign bonds chocks or fordtm curreicy, " ' GEO.WKENDRICK 3rd CO. 1431" WALNirr ST. 3?3SL&ans Vambers New York and Philadelphia. Stock Excbantsa w PHILADELPHIA. Telephone 1 Bell .Spruce 6410 ncBiuuu uses AIM sawmnnijiuillllllUJIIIIIMffin The Present Opportunity In Bonds is the title of our new booklet de scribing some of the more attractive in vestment issues. We suggest sending for a copy of this booklet, as it may help you in solving your investment problems. Bonbright & Company 437 Chestnut Street, Philadelphia New York Boston Chicago Detroit dforD, 33acott & am 1421 CHESTNUT ST., PHILADELPHIA 115 Broadway D8 Sutter St. New York San Francisco Engineering Analyses of Operating Policies Public Utility and Industrial Properties. REPORTS FOR FINANCING defining present day tendencies with suggested remedies. Emrineerimr Desitrns and Prncrnmo to improve and maintain operating etlkiency. fe . n r '... t ' ) i 4 3- 1' t ; u.rt!nl -4 '-I Wfi j KA'rlffn d&iV rfi . 'ii Si i ct,,;if rfut', ynuaoeuuna-uiia t wu, T eooM .wnnca- nova f
Significant historical Pennsylvania newspapers