Mj
4 '
'
w
' , iW
."
rl
feVENING OBMO tEDGMAlifcLfei, THttlSbAl TOLY & 121
nOL3:
I -w T "pi
Vt'
T
How a Systematic Investment Plan Builds Wealth
. ..''..-. . . .. . . , . . .
lotal Principal Sum
25
30
35
40
The
Amt. Invested Net Amt. Invested . Total Interest
Monthly AtAtfiO Earned At Age. 60
$25 ' $10,500. $24,69439 $35,194.39
50 18,000 31.77203 49.772.03
75 ' 22500 29,146.85 51646.85
100 24,000 22,03246 46032.46
m figure; ajtume) that payments are mad regularly on the first oi each month and Invested at ifi
wiui interest oompounaea aemrannuauy at tne same rate,
Annual Income
AAge60
$2,11 166
2,986.32
3098.81
2.76L95
v
ASureRoadto
Financial Independence
STUDY the above table doesn't it amaze yq&o see how money safely invested
will double and treble over a period of years soon yielding an income in
excess o! the amount invested monthly during the period of accumulation.
These, figures show that most men could become well off as theygrow older
merely by ihvesting-reguary aemall percentage of their earnings in SAFE bonds.
84 Men Out of 100
Ate Financial Failures
The Halsey, Stuart dC Co.
Investment Plan
,
they are mainly dependent' on others for
support at age 65. eight men out of the remain
ing sixteen will be able to avoid dependency
' only by continuing to work, and eight will
halve accumulated some degree of wealth. Life
'insurance Statistics gathered over a long period
' prove this. Hence few people can feel so secure
financially that they need not build up a re
serve during their best earning years. A good
income at 35 means nothing in later years if
the individual has spent it as it come.
was originally devised to aid people of small
means to become steady investors. Its remark
able advantages and potential results hava
proven equally attractive to men of larger in
come and substantial investing capacity. The
idea of steadilybuildingup investment holdings
and investment income, month after month,
year after Year, appeals to tound buttons tense.
Today several thousand investors are buying
bonds from Halsey, Stuart & Co. in $100 to
$10,000 amounts, on monthly payments.
Call or write for the Interesting details of this SAFE
loealtltrbulldlng plan, described in our booklet PA-17
For Convenience-, Moil the Coupon
HALSEY. STUART O CO.
Lnnil Title Bldff., Philadelphia.
Buy Bonds by Mail-?-
It li perfectly tala to buy bond from Halsey,
Stuart 0 Co. by mill. Many customers deal
with us entirely by malL You do not have
to see the bond before buying. Our cir
cular giving price, yield and full details oi
the issue is -all you need. We will answer
all questions to your satisfaction DY MAIL.
ricaso send me details of tho Unlscy, Stunrt &
Co. Investment Plan, described In booklet PA-1,7.
SftCame
Sired
City.
IMIttl HMI Htlll
IMMIlllltM
HALSEY, STUART & CO.
INCORPORATED
Land Title Bldg., Philadelphia . Telephone Locust 4820
CHICAGO NEW YORK PHILADELPHIA ..BOSTON DBTROIT MILWAUKEE ST. LOUIS MINNEAPOLIS
National Bankof Commerce
1 inNewYork
llll Established 1639 1
li STATEMENT OF CONDITION
HI JUNE 30, 1921
llll Resources Liabilities
HI Loans and Discounts $291,204,674.06 Capital Paid up $25,000,000.00
II U. S. Certificates of In- .,,' Surplus 25,000,000.00 fi
II' debtedness 22,332.017.00 ir,,iii,.,vtt p,ci. ntoiem I
li Other Bonds and Securities 9.474,272.44 Undivided Profits JjfPl
llll U.S. Government Securities Deposits 386,379,208.60 I I
llll Borrowed 2,500,000.00 U. S. Government Securities B
llll Stock of Federal Reserve Borrowed 2,500,000.00 fl 1
llll Bank 1,500,000.00 Reserved for Interest and I 9
llll Banking House 4,000,000.00 Taxes Accrued 3,879,634.36
II Cash, Exchanges, and due Dividend Pavnhle Tnlv 1 I D
from Federal Reserve Bank 119.915,666.38 ,0?1 raamc July h rennnnnn E I
II Due from Banks and Bankers 5,956.932.27 ., "" ,,, B I
HI Interest Accrued 843,901.41 Unearned Discount 2,093,033.56 El
llll Customers' Liability under Letters of Credit and Ac- I B
II Letters of Credit and Ac- ccptanccs 30,789.105.4 I fl
ceptanccs 29,858,333.80 Other Liabilities 1,700,000.00 K 1
II $487,585,797.96 $487,585,797.96 I 1
llll PReSIDKHT
. JAMC9 S. ALEXANDER
llll viOH-fneatotNre 1
llll J. HOWAPID AROREY HERBERT P. HOWELL PARIS R. RUSSELL 1
llll JOSEPH A. ORODERICK LOUIS A. KEIDEL STEVENSON E. WARD I
llll OUY EMERSON 0AVI0 H. Q. PENNY ROQER H. WILLIAMS fi
ill JOHN E. ROVENSKY I
1 1 ' BKOOND VIOU-WBIOtNTa
II HARRY P. BARRAND , ...ulnlin . maxwei I EDWARD H. RAWLS
LOUIS P. CHRI8TENSON .dInt uivsR MAWELL EVERETT E. RISLEY
HI! JAMES I. CLARKE fHA" Mum HENRY C. STEVENS
llll CASHItlt AUDITOR
ROY H. PASSMORE ALBERT EMERTON
HI omeorona 1
JAMES S. ALEXANDER FORREST F. DRYDEN VALENTINE P. SNYDER 1 1
II JOHN W. DAVIS CHARLES E. DUN LAP HARRY B. THAYER Hr
llll WILLIAM A. DAY HERBERT P. HOWELL JAMES TIMPSON fl B
HCNRY W. do FOREST a THOMAS WILLIAMS 1
i
MEW YORK BOND SALES
1
Am A 'A Ch'tta:
1,.... BO
A '& ri'ir On
a iai
4,..,. 7014
TsAJ.fefl'lK lioonj
n.7.,. 'flo '
91 T.O
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rs... ... CBti
'Amn T A T'dlttoenmnrk 'Con
78
2 7B
.3..... 78
8 T8
A.TftT'er.K
mv,
Amn T ti Tills
2..... 82H
1 B3
2 82
1 M
1..... 82U
Amn T A T'lls
1...,. 7Vi
1 07
Am'n W V tin
8 70U
Ara'e Ttep'e 6s
1 07
1 OS
1 08U
Armour 4Mb
"2 7BU
8 78 Vi
A T t 8 Fo ttj
3 71
A T -S ft An
1 70V4
Atch Topflcv
8 Ve cv 4s
1 70
Xtl'ntlo Ilef'
cfOtt"
3.... tooi;
2.... 100 li
1.... 10OU
1.... 100
Halt -A Ohio cv
1 88
1 08
Salt 4 'Ohio 4
1 07
1 S7U
Tialt b Ohio 'An
B 82V,
tj o r 'i. n
WV4
1 04H
B&O-Swn 3
1 70
I) 'ft O Tol 4
1 84
Tltll Telephone
of V 7
1.... 103
a 103K
Tlet'm Stttl fa
1 81
B 81
rth 8 Cs '30
1 77
IlrUyn IX T 7
7 40
1 47
IlrUyn U E lat
1 04;
nunh BIl'C &
1 74
Cati&dlnn Nt'n
(I Us -wl
a no
1 II04
2 nou
8 80
1 1)0
i nr,
2 80
n 80
Cunmllan N 7
tt. A s
'2 0n
1 00
Denmark Con
"D Ba
4 nou
n 'oo
rwn a u ti 'f.t
"8 40
l 4a
Out Kill Co Ok
1 W
Dt Tun'141
1 70
Do Canada "2'J
8 01
2 ffl
2 01
2 01
8 01
3 01'
Do Canada '81
1 '87',
I) Do Nemourn
X'mJ'r 7a
2 P7H
2 07
n i7
Dui Lltlit Ok
1 0t
1 01
1 01 Si
Krlo 11 It cv D
42 U
Hrls It Co 4k
84 V
Ofns'l Kleo 8k
1 -88
4 8.1i
1 8Mi
2 80
Goociymr Tlra
ItuVr 8a
1
4
2
1
I
UNITED FRUIT COMPANY
Conducting a diversified and well co-ordinated
business, has thoroughly adjusted
itself to changed conditions. Its record
of achievement described in our circular
P. L. 429, which will be mailed free on
request.
WALTER J. SCHMIDT & CO.
Members Consolidated Stock Exchange of New York
ri.,-i, Philadelphia: 1323 Walnut Street
i m Homme. Hnr. 8781
New Yorki 30 Brood Street 319 Fifth Avenuo
uo jauuuaTJUU'jU-'WnnJijVVuijlj
2
Nfk Bo'n ft '8
4.... -0
flflffh -WVn li
Telaphtt 7
4,... 100
!... 100
t..r. 100
!.. 100
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1.... 108)
1,,,. I.
1.... 100
'ti Toin n 4n
2 TB4
1 78
2 7B
N PnclflO 'flu
0...... 08
2 08
2 8
Ora-'Wn 11 Co
NKVI Co 4
1 70
Tac Coaat C Bk
1 . . . . . 00
t'no O li B
1 77
1 T7U
Faekard Motor
Car Co 8k
1 08
2 0S
3 71
fa II 11 4a '4H
1 78
I'a 11 am 4a
3 70
1 70
1 70
2 70
"2 70
renna R R B
1 84
8 84
Venna. Moi
V BMealco Bt
8 48
8..... 4BAt
8...,. 48
1 48
1 4SU
V-B Itlitib-r Bi
1 77
1 77
1 77
V 3 Itub'r 7K
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O S fimlt n &
Mln't G
Il.v. 014
TJ'il B 8tol 8
1...,. 04
8 08
1..... 04
8 .... '((
Utah 1 b U 8a
1 77
3 77
1 ... 77
Vft-C Clifff! Tl
10 01
Wnbart, R lilt
1 4
1 88
Wt-Kt'n ild 4k
...1 82
Wn I'acldo 1
1 78
WM 0 4 a rr
, 1 co
V fc V Mfit 7
3.,kr. 100
3....
1....
1....
inO'i
lo
ioo
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100
100
TVWdn Co ev
1..... 78
Wllnon Ca Ut
3...
1...
1...
liberty 8U,n
Liberty lut 44,
IttL'h
8.fi8
87.:i()
lilbertv 2d 4W. . 87.00
Liberty' 31 4'4.. 01.0S
Liberty 4tb 4,n. 87.M
Vic Notes Sh.. 08.28
Vic Xotca 48.. 08..10
7Aow
80.50
87.22
80.02
01.00
87.10
08.28
0Sf28
8t
83
84
r.V
8(1. SO
87.28
80.1IS
01.08
87.t4
08,28'
08:28
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00
00
oo
00
03
00
00
00V
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1...
1...
1...
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1 0
1 08
1 OB
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10..
10..
4..
13..
I..
2..
1..
8'...
1...
1...
I...
I ..
1...
I...
1
101
101
101
101
101
101
101
101
Cen'l of On (It
1 8
Ctl 1'nclfle 1m
0 72
0 72
8 72'i
Ccn'l Pac 3'4
2 78
CVrro lo Paco;
Copper 8
2 ... 109
C'k U Olilo fd
1 81
C & Ohio 4s
1 .... 73
C'k O cv fts
1 81W
R 81
Chi & Alton ,1s
1.... 42
C V tc Q n
08
8.
10
1.
1.
1.
1.
1.
1.
1.
1
OS
08 h
(IS
H8
08
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08 'n
08
0-O4
08
08
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08
08
II8
0HH
0R
0H
WAMTTCTi
JSjIiNi.Vi. 'ailAAjiy
!SM itSii. .SIP'M,I f.nn'olldatfd
."."fl tbi ihi y Viir;. .1 proaucma mnn
: ner fi .i..Y"OT.r.
onSTi;..
lUFiiitu . i . ;" ." ."
H..1"V ITU, lOetl for unn. a..i.uAA
.......'. "' ""' -v. i,v
',..'? .'or lurilroom
5."- PrTMl,noSll,ri.py,,'ARLl,IUA of.
?IL!Wtan.'
r id
W Y'onl
iiy acwmplislw
i cuiindfnco.
S.i Iloom 201.
121
American Gns & Elec. common
Western Power common
American Power & Light 6s, 201(5
Buffalo & SuHquehunnn 4h, 1903
Pcnna. Co. Is, 1931
Lchifih Power Securities 6a, 1927
Metropolitan Edison lis, 1922
BAUER, STARR & CO.
LUtlil TJtla lliillillnr, t'iillaillhliU
Nwr XoMt time, t Rfrtar Btrtfl
Vlrcvt Vnvatt) TvlfifUoM bet, Otftcca
4..
t
It
1 .
.1. .
CM 4 Urle mt
4 .... 78
CJil Ct O W 4
(1 .. 30
ChlcaKn Mil &
HI r 4s 'SB
1 .... 74
C'hlcnsro Mil &
Stl cv 4s
B .... 03H
rtilrnito Mil Ic
HIP M 4n
1 B0
.1 B0
1 B0
8 00
h. ... no
ChU-BKO Mil h
St I cv 5s
1 .... 00
C ft N V 0'is
2. ... 00
2 00
1 .... 00
3. .. 00
1 ... 00
Chi t; Nwn 7s
1 ... 102
Chi KUP fd
1 00
t 00
2 ... 00
.1 .. 00
C V Htii I'jK
in . . . 80
8 . M
1 ( 7) 70
Chlcnco I'nlon
HU ct 0W"
2 . . 10-
10.1
-. J 2.. . 10-1
Tj-Juf ' CM t- I 4
fA ' ' .f'.
CONSERVATIVE
INVESTMENTS
E shall be glad
to advise y o u
when considering
t h c conservative
investment of your
funds.
h'mdfv ask for ClnuUir f.l's
CASSATT if CO.
EstabUihtd 1872
COMMERCIAL TRUST BLDG.
PHILADELPHIA
NIWYOR
DAlTIMOBt-PirrSOUBOH-acn ANTON
e
HA1.KS.MAN
A ccirjtnrntlitii lilliiiiifitrturliie n tvrlt
linoivit nntomolillr trucu nnrt. nhrillnir
itililltlimtll fnplUI for fkitunslnii, Is uf-
rrrinir tor uttir iiiniicii uniount of
l'rffrril Itltil Cnmmoit Ittncfc.' Ki,M.
Clici'il KiilrKinrii ivlll flnil tliU nil oiti.
(Inniil iiortunlty. Attrnlv. ruin.
IiiUkIiiii bnala only, ltrlillrs will be lirlil
In utrlvt roiiOdencr, aire telfpliona
nllmlirr inr niMioiniinrni.
AildrfKK A-133, I.tUgrr OIUcc.
. 71
2 .... 71
H .. 71
7 ... 71
I .. 7l'i
1 . . 71
(Mill I'op'r 7
1. . . 03
CMnoo Gnii't
iiu-ic ny r.
1. .. 1.1
1... 10
.1 (h 80) 48
City of l!rrx.'n
lis rets
2 no
Cltv Heme 8s
2 . . . 0!)
I '. .. 0S
Cltj- Ilorrt'1 Oi
1 KO
Cty Chils'n Hs
8 081.
t... . os';
City of IVliell
linufn BVj"
t 7(1
1.. .. 70
City Mnrn'H ti
3 80
t,.... 80
C N Vl 4'H0
1 8S
(.' N Vk 1'HI
1 80
I .. . 80S
City 1'RrlK tit
B.... 00.13
Colo Imliist Bn
8 72
Cons' d linn 7
3.... 101
1.... 100
Cunrth A 4 Hi
B .... 07
Cuban C fl cv
2, ... 00
2. . . 00
B ... 110
3 , . . . 00
l oo
1,- tntt
B 00
00
00
OS'l
00
00
on
00
00
00
00
07
07
08
07
08
08
08
08
08
08
07
07
GOSSIP OF
THE STREET
LESS COTTON CONSUMED
fewer tphdet AetlVe In lune Than
8ame rVltnth Last Year
WtMiliifctMi, 'July 14. 'Cotton con
Ktinictl (lurlfi's .T(me nmoTtiitctl to 401,
(ViO runnlfiS bales Of llnl nml 4S,tl83
Vnh'A of llitlerrt, lire CensuM llurenn an
nounced (tfriny. (Viniminiitlort in .Tunc
h yenr ngo wiim fi."i."i,ir5 holes of lint nntl
:ir..24:i f iintcr.
Collon on liiuul June HO In eonstim
lint CHtitblUliinciilK nmonnti'd to 1,204,
fl72 biile of lint nnd 2118,27(1 of lintor.
cofnpared with 1,551,274 of lint nnd
2(10,(558 of lintrrH n year agn, und held
In iiubllc Ntorngo nnd nt oomprwweH,
4,TlO(i.2.W bnli'8 of lint nnd 253.001 of
llnlctH, rninnnred with 2,001,010 o
lint nnd 077,2.'t(l of linlcrp n yenr neo.
llfiriovts were 0010, compared with
10,lRl5 In .Tunc hint yenr.
Oolton iIh11cs m'lUe tlurliiR June
nufnbcred :2,0(J5,.1li5. eomyinred with
!I4, 407,404 in June lnat year.
Th other, vaeahcr waa
of E. Htotcsbarr Vrti
filled t lb trecllotl
The n.vrra,ttle of tntr otlv InOui.
(rial atotlia dcllft'd .05 ir cent, yeaterday.
in n.os. ivh e the iwmy rauroaaa n
cllned ,00 per cent to
wntr
71.10
Tlie otla KleValer Co. rauorta for tha alk
nut-
lrra
the
June 30 net enrnlnta
412. llio. nednrtlna
menthn rnlert
for Federal taxes and J50.000
r ile
182.1.0(H)
arve, the net Incomo
tble for dividends,
jXO.OOOfor tension re
ot $1,387,100 la nvali-
Llverpool Cotton
ino1, Jnly 14,' Tli'Tc Vn Bond de
mand ror ffot
failv fin tllft
Inis rer. miaiiiina:
r.itfnid
ImsIs fif n
iwilnlH fee mlfl.llintt' Ml 7.?-ll
ln.ooft baler., . Tlio rerciplr ivere OOli
Financial Briefs
4...
3.-..
(!d Trunk rcta
1 ... 100
O Nth niy 7
1.
3.
3.
Hud
1
1
1
... 08
... 08
... 09
... 08
... 08
... 08
... 08
... 88
... 08
... 08
... 08
... 08
... 08
... 08
... 08
... 00
... 08
... 08
... 08
... 08
DS
A Man In
... 41
... 41
41
lit Cen'l 4s 'B
1 C0H
111 Cent-1 iiu-a
.1 88
Intboro R T fd
10 3
1 BB
1.. .. SB
Int M ct 4r
10.. .. 19
2 ... 13'.
M Marino fl
1 70
2 70
lnn Cent'l 4s
1 40
inu Gove't 1st
1 84
21 81
1.1 Hl
I... . 81
Jnp Qjvo't 2nd
3 84
1 84
1 84',
1 . .. 84',
IS 81',
2 81
Jnn lloien't 4
1 00
2 00
2. . (I!i
Clin C & 3 .1,
1... . 87
1 87
ICnn C & S .li
1 7.1
IC C T Illy Is
3 71
Kelly Hprlnu'd
Tiro Co 8s
.1 04
1 01
C UelRlum lis
SO 08
87 08
2 1)8
1 03
IC UelK'm 7e
3.... 100
1.
10..
1..
3..
1..
.1 .
1..
.1. .
.1..
IC llelu'm rets
2 .. . . 00
I . . . . 00
1 00
3 . . . 00
I'l 1)11
Kingdom Den.
niarK ct Hi
100
100
100
100
100
11)0
100
100
100
100
101)
4..
I..
I.
1 .
100
100
100
100
10O1I,
102
100
Kingdom Nor
way ct 8s
1 ... 103
2 ... 102
C Sweden 0i
1 83
1 88
I ... Rrt'i
. A MerH .Is
1 88
'.on . Nash 7k
1 103
Mex I'elr'm 8s
1 03
i 03
MM 8 & Or flu
4 7ft
1 70
Mo K & T 4s
10 (10
1 0
1 00
.1 ... 0(1
1. '... 00
M'l I'ncMc 4s
2 n't t
N V Centl R
I ni
I 0,1
N V Cent'l Is
-
IB 7.1',
2 . 7(1
S'eiv YU Ctl 0
II 00
2 . ., 80
1 110
J8 . . . . 00
New Yk Ctl 7k
1 ..101
1 100
1.... 101
1 . . 101
,Vw N It A
tlnrt'd tts
1 00
1 . , 00
N Vk Tele 0s
i .... oa
Nla T l'wr B
i . 1 1 80
1..
7..
3..
o..
10..
H..
1..
1..
1..
11..
1..
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renna H 71 7H
1.... 102
1 108
Feoptea Oaa Tj
t C Co 8a
1 72
Pere Marnt Bs
1 80
Phil County c'v
0 07
neadln 111' 4
1 74 .
1 74
1 74
tlet Chilo rets
1 08
1 00
.1 00
2 00
Itep'c C fca 04
1 70
Hochestcr &
Pitta 7a
li 80
nock ira a &
I.oul'n 4s
1 06
8t I. 1'n Mt &
8'n niy 4s
1 00
fit I. I Mt ft A
II A O dv 4s
3 00
St 1,18V (ij
4 87
St J. & 3 V In
1 B3
21 B3
St I. & S I''rnn
Series A
2 01
1 01
1.. .. 00
2 00
Bt I. i. H Tran
Series D
1 72
1 73
1 72
Ft I. 4 H Tran
Series C
1.. .. 87
St P'l Minn A
Monfa Mont
1... . 70
St I. Sow n en
1. ... 02
St I. Sow'n Ss
1 07
fnn Antonla &
VP niy 4s
2 e.2
8Ao Paulo of
Itratll ct 8s
2. . . . 0.1'i
V.'. '.'. 0.1
i . . r.
fe.ib'd A 1. a)
8 2.1
3 (sale) -i(
1 ... 2.1
1.. .. 23
Kuib'd A I. OS
1 48
Sinclair C Oil
Col-p'n 7
1 01
1 Ill
3.. .. 01
:i ui
1 !U
S'll Hell T ,1s
1.. .. 81
P'n PaclOo fd
2 78
1 75
1 .... 7.1
.1 7.1
H'n Pacific 4s
1 70
1 70
Ho'n Pne cv 4s
1 . .. 78
1 78
B 78
1 78
B'tl Pnc Term
I .... 71
.1 ... 70
fnulh'n niy 4s
i . nn
i . Bfl
South' n niy .is
3 .... 82
3. .. 82
Stnnd'd Oil ot
Calif a 7s
1 . . 102
Fulls' it Con 8
1 ... 10.1
2 ... 10.1
1 .. 10.1.
1.. . lOB'A
Term' I II n A
,if 81 I. 4s
I 07
Third Ae 8s
I .. 77
Td..iUiT nil
Co ct 0s
2 . 0 1
Vnloti Pac fd
1 .... 7BVj
I'nmn PAc 4s
I (snlo S0
1... . h0
8 . . 80k,
V Tniik Cur 7s
2 . 100
1 . 1"0
...
IC of O llrlt
A I d 1021
ti I nil
U "ll of CI llrlt
A I'd 10
li) .
.1 .
33
.1.
21
u .
10
47..
1..
4. .
OS
07
08
118
118 3
IIS.3
!)H.3
08
08
08
C IC of 0 Jlrlt
A I'd 1020
4 .... 88
.1 . .. 88
2 . . . KS
1 . 80
B . . SO
C IC of (1 111 It
A I'd 1097
3
17
.1
10.
I.
8
0.
1.
1.
1.
I
83
Ml
Mltt
8(1
811
80
80
80
80
80
8d
tf d'llruill Ks
1..
1 .
1 .
1..
'ft:
B..
07
07
07
07
07
fl
07
Quite a number of rhilnrlclplilnns
are Interested In the. nronoBwl recti))!
tallxstlon plan of the Nortli Amerknn
Co. It Is understood the nlfin foils for
'exchange of 207,0S3 present khnrcs of
rnpithl (par vnluc $100) for n new
fi per cent preferred nnd common otoctt
fc-lth ft par value of $50, on the lml8 of
two shares for one. The company has
been paying $5 annually on the ?20,
703,300 capital stock since 1010.
If the lropoed plan Is cn"'l1
through, there will bo authorized ?(),
000,000 i per cent preferred clock nnd
'$30,000,000 common stock. According
to reports it i the expectation of the
board to pay ?.1 nnnually on the com
lnon stock and, In addition., make on
annual stock distribution of 2 per cent
fn tin. nwfeere,l mtnfilr " tb nrOPOKed
exchange, half of the new stock will
bo Issued for the present stock. It la
figured on thin basi the present holders
would receive on the two shares re
ceived in exchange $0 ensh nnnuully
nnd in ndtlitlon 2 per cent in preferred
stock. , , .,
lv arc aware of the fact that tho
.company possesses the only omnibus
chnrrer In cXlMcncc. It is the most
flexible document over granted in tho
hitnry of the country. The company,
in brief, can practically engage In every
possible sort of business from making
bricks up to running it rhllroad or any
thing in the banking line.
Good Market to Leave Mono
Only n few brokers nr making effort
to encourage speculative commitments
in the current market. The majorit
are Only discouraging ll operations
until the mnrket has found n common
level.
A board -room manager of one of the
larger uptown houses stnted yesterday
that he had advised most of their client
to lenve stocks seriously alone until some
definite tendency Is nhown. 'Hie ma
jority anticipates it dull nnd draggy
summer, leaving a slender opportunity
for profitable turns on either side. Sen
timent, however. Is more optimistic on
the future, for it is generally believed
the worst Ih known ill respect to most
industrial affairs.
On the other hand, it is felt there is
a ehnnco of important favorable devel
opments In connection With the rail
roads, which, if realized, would have
coimldernble influence in the market.
Steel Ruyers Still Scarce
In view of the recent ndditinunl re
duction of schedules by the leadilig steel
mills, more than ordinary interest was
attached to the Weekly review of the
steel situation bv the Iron Age.
Discussing thtH angle of the industry,
the nccepteil organ of the trade stales
that "les.s, rather than more, buying
has followed the formal posting of the
new steel price list Inst week nnd steel
works' operations have not Improved
lluycrs do not question that prices urc
generally below wwt, but they nnrd little
steel and await the effect of labor and
freight adjustments.
"Market prices of some tiroducts, In
cluding hot and cold rolled strip steel,
are not well defined. Irregularity ap
pears niso In seamless tubes. While
2.00c is regarded as the Steel Corpora
tion's price on hot rolled strip. Miles by
other mnkcrs are reported tit 2.50c and
lower.
"New structural proiects total 11.000
tons, nearly half of which is for a liuijd
lug in the (Irani! Central area in New
York. CohtVhets awarded involve about
7000 tons xlxnblc jobs, while rapacity
of country's fabricating simps exceeds
40.000 tons per .week.
"Marked increase In interett on the
part of pig iron bujers in se"rnl Im
portant centers, with sales of fair ton
nages, has cnused a more cheerful sen
timent, but business Isi being taken nt
further price concessions. Sunt hern
iron has declined fifty cents, and at Chi
cago charcoal has been marked down
S1.50. while other grades have declined
.?l in that market, and lower prices nre
also noted nt Pittsburgh, where an offer
lo buy 1500 tons basic nt $1S. or SI 50
below prevailing quotation, is consid
ered to reptesent views of buyers.
Gcorrrln, Coming Hack Fast
A very cheerful resume, relative to
agricultural conditions In the State of
Ocorgia, and predicting n rapid restora
tion of confidence and liutin activi
ties, is given bv the industrial depart
ment of the (Jeorgla ltntlwa and Tower
Co., the securities of which enterprise
nre widely held in this elt . The Mate-
inent asserts that business conditions in
the State are Improving. More than
thirty Slate Hanks that were e'o-ed last
fall have reopened for buslne-s.
"Confidence of the buying public has
been restored." the report continues.
"Hetnll merchants have unlnndid war
stocks some of them at tremendous
loss nnd nre placinc fall orders on the
new basis with considerable optimism.
Merchants believe Hint the fall season
will lultiato several years of unusual
activity.
"It was predicted that the South,
largely agricultural, would be the first
to recover from the depression. This Is
proilug true, particularly of Georgia.
"It Is too early to predict the out
come of this year's cotton ciop. Present
indications nre that, it is about 01 per
out of normal. Cotton acreage is re
duced approximately 2S per cent, llnr
ring any advelse developments, such ns
boll weevil and early frosts, Georgia
should yield this venr around 1,121,400
lialei of cotton. There Is still much of
last j ear's crop in warehouses nnd on
farms." TIIR TltADKU.
CLASS WAR URGED
Communist Trades Congress Would
Wrest Labor Control From Capital j
Ivondou, duly 14. -Illy A. P. I ,
uesoiuiinns declaring it a necesit mat
class war be intensified in all counlrlcs
were adopted by the Congress of Com
nulnlst Trades 1'nlotis at Moscow on
Monday, savs a dispatch from that city
to the Pally Herald, nignn of labor.
The voto of the congress on the resolu
tions was 2S2 rt 112 and (his action
was taken according to the dispatch
with a view to "ending capitalist con
trol of lnhor, and enuaeiiueutlv the po
litical power of capitalism, bv estab
lishing closest llnltJ between the vari
ous sections nnd forms of the revolu
tionary labor movement."
The congress olsn decided to tolte
steps to unite all trnde unions into one
fighting organization, with the Con
gresS of Cnminiuitst Trades Unions its
tho international center.
Walter T. Oresseup, mannaer of tbc de
partment of bank examination jf the Phila
delphia redernt lleserve Dank. ha be'n
elected sn nnslstant Kodernl lleeerve n$(nt
of the institution.
Anajlo-Amerlcnn Oil Tor Ihe year ended
December 31. shows nl Income, nfier nepr
elation, Inteiest and taxes, of lt,'Jl.-,lS8, ns
cnmpired with net rt-o3t Of ll.201.OU7 In the
previous year.
T.. J. Scliumnker his bteneeled n dl
rretor of the United 8cnrltlea Ufo Inauraneo
and Truft C'a., brtnclnr; the board up to Its
full membership or nnecn. air Hciiumnxcr. 1
who Is president of tho Crana IC6 l roim Bnd
Ilaklntt Co. tills une of the vacancies ere
ntrd upon the roslcnntlnn reier.il months tit!, I
of Caleb J Milne. Jr.. president of the
board, and Hurry I.. IlurraKe, of I'ot n.
e w:
lav.
nn ndunce f
The sales were
ItnAlifAteA' J.-.08 title AWlAtfean. I'lllilrei
wta iulet In the enrly donllnxs. RnOt prices
ware! American mbMlln folr, lO.std: (rood
fnlddllnn, .isii inur..mioa inf. n.iiu; m.a.
rfilr.fr. J. blAi low TnlildUnfr. 7. Rid! iroiRl Ord n-
ry, A I'lid, and ordinary, S,44d
cotton loIaj-, with prjrcs
fulnrcK
t. . . i . , i i.i, j i p,.y iu.
ftteel and Copper Plata
WTJ
UB'
I i n i In. i'l .'I.',
::
PRINtlNG.SLSSyS.!
i'l and Copper 1'laM )8MKrMmVJWtWfta
M3& WflrfiWSBi IBTTRittrt ttf
flkMa
..V. ill M d li il
rtl.l) (llMtHS JtRMTivm f
IVrl'e er phnn for anmplo and Prleaa, I
C. SCHMITT,- Mfr. '&
.. i.
tmwjnmiirjt!J,! JiL jmiWH, ' ' I '-
Sale on Plumbinjr Fixtures !
Vbho 'Sanitary PdrtUln
Wmhtrnya nnd Combination
Sinks, While They Utt, Cheaip
TUet
Outfits
Complete.
Pipe ic
Fitlini
Cheafi.
GITOMER MILLER & CO.
816-818-820 Wahlhfttbn Av.
Branch: 112 N. 3d St.
t'rompt Al(enl(.n (Ihrh llall Orders.
Open Kuturdsj Atlernoon Also
j $30 fcomplete ' J
For Theatre
and Cafe
Information on a
stock before
you act
rather lhan after will help yon
Hefore you buy or sell, let
us post you on the stock that
interests you.
Wc can supply you with re
ports covering New York
Curb Market stocks, based
on available news, informa
tion from the companies ond
our special correspondents.
Koto booklet "Traders Hand
book" jiMf publinhfd will
make clear innny points re
garding; stock transaction
and market terms.
Ask for TU-4G4
PHILADELPHIA OFFICE
WIDGNRB BUILDING
Telephones; Cell, Locust 4780
Kostone, Race CStl
BALTIMOltE OFFICE
88 EQUITABLE MJILDINO
Telephone; St Paul 8(51
Direct Private Wires
Hew York Chicago Boston Philadelphia
Pitteburch Detroit Dr.HImore Cleveland
Jones &. Baker
Afm6tr NXO York Curb Market
V t
?j.
W6nfrS6tMr
XLt&fheti
'AVM .... v .. 'IM? .
jwh' .: vji I,rBsr .
l'llNCU .Met.ll (Ylllntr Is tlartli
uUriy npproprlat.5 ror the.-ittes
Hlid cafe.s. Its elaislc ilealims
rich ornnmentiitlon nnd a-li""
finish malic It the ideal hnrlCRroiui'i
for unusual IIcIHIiik eneets
Beore !n(dlii7 er rrModeMr fiome,
office, rtorr, factoiy, cntr or thcairr
be sure fo net thr I'KSf'O Mrtal
Crfle7 Crtnlon ori olir rlmdte
PENN metal company
Prnn Metal llldg., Phila., Pa.
it.il.eni "f fl'V
co Mntiil llnor
H I d I n K
fl AI.ll.ere ,lf PI'S' H
a tBJI'iiw. f'
n rnicUliT!kK In
?! vkfflEDffiSaKy We'.led Tnnlts ij fl JfAU&sA R
ji XJ?H'i.,l"S toi'i'l l.oelers .'. tj fisrjl uffinffl'Wi:
PARCEL rOST
l r- T i ir - - - m. .
M.M)R OP
Fine Harness Leather
The St, ft SI Belt Is one piece
(not milll) It outwears Any
Ftltchcd belt. Always keeps Its
ahape nellned looklnR and
durable.
Slade by the most renowned
SAIMM.lCriB In the Country.
I'nrrel Post I'repnlil
MARTIN & MARTIN
1713 Chestnut St.
I'llII.A.. PA.
i
L
CORNS & CALLUSES
Remored In
FIVi: DAYS
AHiiOTT'S PLASTER
o .troub'.a ts
,0n)v a data
Mi,t. nn Ineanventence.
-.w. -, .':--"...,, i..ih.
wear snots wmio .ni..
err thin merilcuted plaattr.l'n,
needed, verr unn mruituiru p;aaier,i-riN
10c & e. All ntsic jjtore, or by if all.
AimnTT rtR-MEniF.") rn
ItOI h and niesril Are., I'hlliitlhh I,
2 I
- l
INVESTMENT SECURITIES
1009 Land Tltto Oldf. Spruce 6721-2
FRUIT &
JELLY
PRESSES
$6.50
I'rrssrs nre mode ctf
.elfeled nrei. nood
and rrmlerrd prod!
ii-.ilnt fruit held
Vwiht 14 lb.
llcUht l.Vs In.
Diameter Musket
8V, In.
IMtritlrJ lllioIenle f. Petnll
Miiiiiif.iitiiriil nnd (limranlpnl bv
Home Beverage Supply Co.
in s. 11th St., Phila., Pa.
itl'.irrpl tt nr l'.ttirfi
This Old
Piano House
Founded
18G0
During July
v.-lll
CELEBRATE
its
61s!
ANNIVERSARY
II WWM' FD0FIHG
Cff I JWMW "m pajwapamwaj mmy T-V!' TVtT-.r, VS I 1 I II '
iJlffrr rr ur I i x-i fe"a-a"ui7
mjsM&
Js
OfTerlm: linnilreda of new nnd sllahllT
iim-iI I'lnncfi. l'tn.Trr-1'lniios anil llnbr
(Iriind t'l.moa ISTAMIAKI). JIAKKH) nt
n TllF.jll:Ml0L'S IIKIIL'CTIO.N IN
PHIt'K.
100 Upright Pianos, $65 Up
50 PlayerPJanoi, $195 up
10 Baby Grand Pianos, $325 up'.
Thre plr.iHis (sllttitly used) are In aood,
fondltbin Willi n two-jertr exrh.lhje iiflr.,
Heir nt full innie nmrnnleed. Visit oef.
wnreH.nma or send for rataintiie und
leiirn nt our VEIIY KAHY TrilMS.
NEW PIANOS, $220 to $595
Now Player Pianos, J375 to 6950;
Baby Grand I'Innos, 5323 to J1393;
itcprotiucmR i-iayerH,ou 10 ?iudu
Sedil for t'ntiiloaiie K:iBy Terms
Open Mon., Wed. and frl. Evga.
HOWARD VINCENT
830-838-8-10.S42-844-84C
NOUTH SIXTH ST., PlIlLA.
US8
THE Fire Underwriters rate Carey Las
tile very highly on account of the fact
that it is surfaced with slate and is spark
proof. The slate surface greatly improves the ap
pearance of factory and business buildings
giving them a red or green roof which tones up
the appearance of the property.
The slate
painting.
is fadeless and never requires
Underneath this attractive surface is a tough
body composed of asphalt saturated woolfelt.
Our experience shows it to be the best thing
at the price, and the best of its kind at any
price.
Headquarters for tho buihlini nnd nsuafinrf products of
ASPHALT ASBESTOS MAGNESIA
"A Roof for Every Building'
imrrrnT?i'VtJIH"r''"vtgrOTrrTiTrrrTr u"
.rtagjBjjjj""
EXCLUSIVE DISTRIBUTORS OF
a&fefr CAREY PRODUCTS
WlmP ROBERTS AVENUE AND STOKLEY STREET
V
PHILADELPHIA
25-21
75c
$2.95
a on
'1500
$17.75
s15.00
$10.50
$19.75
?10
lsX
A'o Seconds
A'o Storage House Rugs
All Rugs guaranteed first
Quality and perfect.
27x31 Manhattan Tapestry $1
Brussels
27x51 Alex. Smith & $1 Cf
Sons' Tapestry Brussels lavij
127X51 Bush & Diamond $0 Hft
Axminster iDl
27x51 Wool
Fiber
27x51 John Bromley's
Axminstcr
l).t Seamless Manhattan
Brussels
(i.S) Bush & Diamond
Axminsler
Gxl) Alex. Smith's
Seamless Axminster
0.9 Alex. Smith's
Seamless Velvet . . . ,
7.69 Wool
Fiber
7.69 Alex. Smith's
Seamless Tapestry
7.li9 Alex. Smith's
Axminutcr
8.3x10.11 Alex. Smith's
Seamless Tapestry Brussels
8.3x10.6 Bush & Din- $! AA
mond Axminster ... aCDallU
9x12 Wool $7 or
Fiber ( ,CtO
9x12 Manhattan ?! - r-A
Seamless Brussels ... 1 laOU
9x12 Alex. Smith's $1 C
SeamlesH Brussels ... . 10
9.12 Alex. Smith's $0 n&
Axminster bUl3
912 Roxbitry $ni
Axminster OO
9x12 Winton So "7
Velvet 61
No manufacturer of Wiltoni,
Axmincters, Velvet! or BrUsisli
Rues retells them, not one,
your Money Back far the Atklnf
If Nat Satisfied
JOHN
LOUX
2552 Germnnlown Ave.
and
2549-51-53 Gcrmantown Av.
nnd
126 N. 10th St.
The Dili) John l-oui Himself
,u ronnrttlun Willi nnr other hmsa
Open Monday, Friday and
Saturday Eventngi
I'lionri Diamond S387
JTrea Auto BaMmr
v j.
Mail Order Hullelfed
flatWaeMsn
J
"til
J,
f
,'J
St
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1 !
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