"?-7
,''.
.)
r 't
i i
'?s
BVENINCF PTJBEKJ CMMPHTOABmiPHtS, MOOT AY, iTUIiY K, 1021
17
V
XrT
-",
Uncertified and Untwine!, $1,000,000, Je Jtmc 1, 1928
President of the Company, and other official information furnished
NEW ISSUE" ,
$4,000,000
CONSTANTS REFINING COMPANY
8 First Mortgage Sinking Fund Gold Bonds
Interest payable without deduction for Normal Federal Income Tax ap to 2 4 Mill Tax RfandaM la
Penttryhraaia and MaaMchaaetta.
pated June 1 1921. Denomination $1,000. Principal and semi-annual interest Jane 1 and December, 1
Payable in gojd at the office of the Trustee, The Spitzer-Rorick Trust and Sayings Bank,
Toledo, Ohio, and New York City.
$500,000 due June 1, 1922 $500,000 due June 1, 1924
500,000 due June 1, 1923 500,000 due June 1, 1925
$2,000,000 due June 1, 1926
Callable at 104 and accrued interest at any interest-paying period on and after one year from date on
60 days' notice, and at 1 lees premium at the end of each year thereafter.
Bonds may be registered as to principal.
Total Authorized lane, $6,000,000
From letter of E. Constantin, SrH
os, we summarize as follows:
BUSINESS: Established In Tulsa in 1912 by E. Constantin, Sr., with only a nominal capital, from
which there has been earned its present surplus of nearly $13,000,000. The Company does a large and
Erofitable business in refining crude oil and marketing its products in this and foreign countries. Its
usiness is well established and constantly increasing. The Company owns and operates two large
modern refineries in Oklahoma: No. 1 at Tulsa, having a daily capacity of 5,000 barrels, and No. 2 at
Devol, of 10,000 barrels, and at each refinery owns a large tank farm with steel tanks, enabling the Com"
pany to carry on hand large stocks of crude oil and manufactured products. It owns its own pipelines
and 1,087 modern all-steel tank cars having a capacity of 8,000 and 10,000 gallons each. It owns and con
trols through the Constantin Oil and Gas Company valuable oil properties in Oklahoma, Kansas, Arkan
sas, Texas and Louisiana which, with contracts for other production, insure the Company an adequate sup
ply of crude oil for refining at all times. It owns and controls through the Lindner Oil Company its own
gasoline and filling stations for handling its domestic trade, and owns one-third of the Export Oil Cor
poration through which it handles its large and very profitable foreign trade. The Constantin Company
is, therefore, in the strong position of controlling the production, manufacture, transportation and distri
bution of its products direct from oil wells to the ultimate consuming market, both domestic anH foreign.
MANAGEMENT: The Company has always had an exceptionally able and efficient management, as
is demonstrated by its large surplus, all earned, and its high standing in the trade. No change is con
templated in the ownership, management and policy of this Company. Its officers are men of integrity
and experience : President Constantin, the founder of the business, is also President of the Export Oil Cor
poration and of the Franco-American des Petroles Companie of Paris, in which the Company is a large
stockholder; Vice-President Malloy is a former President of the Western Petroleum Refiners' Association.
PURPOSE: The proceeds of these bonds are being used to pay indebtedness and to largely increase
its working capital.
SECURITY: The present bond issue constitutes the only bonded debt of the Company and is secured
by a FIRST MORTGAGE or DEED OF TRUST, under which is pledged all of its property, real, per
sonal and mixed, now owned or hereafter acquired. Its current assets, including tank cars and equity in
tank cars (net) amount to over $7,000,000, or nearly twice the amount of the $4,000,000 bonds to be pres
ently issued, while the total net assets available as security for these bonds are over four times the
amount of bonds issued.
SINKING FUND: The Trust Deed provides that the Company shall make a monthly deposit with
the Trustee of a sum in cash equal to one-twelfth of the next maturing installment of bonds and one
6lxth of the next maturing coupon on all bonds outstanding.
EARNINGS: Net earnings for the five years 1916 to 1920, both inclusive, after payment of income
taxes and liberal deductions for depreciation, averaged $1,003,438.94; net earnings for 1920 were $1,975,094
after creating reserve for Federal income taxes, liberal deductions for depreciation and also charging off,
on December 31s.t, $1,287,551 to reduce inventory price of crude and fuel oil on hand to anticipated drop
in market price, and loss of $57,551.71 on sale of $450,000 Liberty Bonds. The net earnings for the year
1921, based on the earnings for the first four months, before setting aside reserve for Federal taxes, are
conservatively estimated at $3,195,196.84, or over nine times the interest on the bonds to be issued. The
foregoing does not include the very large profit in the recent sale to the Standard Oil Company of one
half of the Company's holdings in the Eldorado field.
All legal matters pertaining to this issue have been taken under the direction of Messrs. Tracy, Chap
man & Welles, Toledo, Ohio, and Messrs. Breckinridge, Bostick & Daniel, Tulsa, Okla.
Having sold over 7S of this issue, toe offer the unsold balance.
PRICE 100 AND INTEREST
Spitzer, Rorick & Co. Bioren & Co.
Established 1871
EQUITABLE BUILDING
NEW YORK CITY
Toledo, Ohio Chicago, III. Topeka, Ka.
410 CHESTNUT STREET
PHILADELPHIA, PA.
The statements contained in this advertisement am t. j .
consider entirely trustworthy a. , ficml and other information which we
wormy out ara not aunrantr.rA hu u.
are not guaranteed by us.
The
R. L. Boilings Company
Investment Bankers
Announce the Removal
of Their Offices Today to
Their Q,wn New Building
1421
WALNUT
STREET
PHILADELPHIA
GEO. D. PORTER,
Vice President
UNUSUAL FEATURES
in the financial affairs of
United Fruit Company
Earning Power
Cash Position
Latent Reserve
are discussed in our circular PL-429.
COPIES FREE
WALTER J. SCHMIDT & CO.
Members Consolidated Stock Exchange of Now York
Philadelphia: 1323 Walnut Street
rhones IleH, Walnut 40G0 Keystone, Bare 8781
Now York: 30 Broad Street 319 Fifth Avenue
Ji
Spruce 8200
BOUGHT SOLD QUOTED
UnitedStates
Government
Securities
All Issues
SKCimiTIES llRPAnTMKNT
COMMERCIAL TRUST
COMPANY
Member Federal Rcam Hrstem
City Hall Squaro Wot
u
v
T
Bonds for Investment
ClrcnUr Upon Rrnuest
The National City Company
Ctr-Pmdrnt Offe in Ovtr MOUlte
Philadelphia 1411 Cneetout HI.
AtlanM City Ui noarnwala
AMERICAN SHIPS ARE
AVAILABLE FOR YOUR
OCEAN VOYA'GE
New Combination Passenger
and Freight Ship
Fast, Luxurious Steamer,
Reliable Freight Ships
THE STANDARD OF
THE MARINE WORLD
UNITED STATES
SHIPPING BOARD
Sailings from every port
in America to the lead
ing ports of the world.
Investment Opportunities
In High Grade Long Term
Bond; Yielding a High R..
turn.
Lint upon requmtt.
Reed A. Morgan & Co.
Vul JBnd mil Itldo., PMJo,
Members of tne Phlla. Btoclc Eich.
New York Bonds
BALES IN I10O01
Am An CniErl n n or DiKorth TVn B
Ttti ret 4 i. Tel Tl
a..... SO OenVI Elso Si 0.... 100H
1 Ofltt 8 8814 1.... 100H
4 esiibtn'! Elec On 1.... 100H
l o) a.... ioiu) i.... loou
a ( i.... 101 a.... iooh
ASA IV r SiOoodrear Tire 4.... 100H
1 7M A nubr 8a 1.... 100H
B 7 1 fiDH 1.... 100H
1 7U 2 flOU 2 100U
AmnTATcltf 1 ODVi No'n Fac 4V4a
n mm. I '1...... W-.-.hJ a f- BAt .RLE
S T7H Oove't Frenchi
Amn T A T ! n TUe rota
0...,. M'.l 1 05
B 821 8 0B
8 82V4Oov't V It 8a
Amn i i oik
B Mtf
B 07 H
1 07'
i 07 h;
A a o o ss
1 TBH
1 TO
A Co art L. 4a
&.. 76
Attantlo nel'r
ct OUa
1.... 100H
Halt omo cv
1 67U
Bait A O 8Ua
1 88
S 84
1 8SH
nail A Ohio 4a
1 87
4 67U
Halt Ohio n
8 70H
3 70W
n A O P t. Hi
W Vi Ii
a estf
B MH
l et
18 03(.
Uefm Steel fd
8 81H
Iluih Bid' Ba
1 7B
Canadian Nt'n
OUe Til
1 Oft'A
1 00T&
1 08K
1 OQtt
1 0(174
8 00
1.
2.
4.
1.
1.
1.
1.
(Jd Trunk rota
8.... 100K
I 1...
3...
,0 Nth
1...
8
3
0
1
1
7
1
1
00 H
00 H
OOTa
00
00
00 H
00
100H
100
nir 7
OflH
0BH
1 ( 80) 7BV4
Pao QlKli
i 78
1 78
B 77H
Via T A T Be
1 84
racVard Motor
Car Co 8a
1 08U
ra It m 4H
1 78
1 70
Tenna 114 Otta
A 07
B 07
B 07
1 08
1 08
08 4 Tenna n II Ta
08H 1.... "3
08H'. B.... 103
OHS' 1.... 108
OSS 1.... 108
08 1.... 103
08 1.... 101
08H(rhll County cv
o: 4 07
33 OSHIl-adlna- Ry 4
08 1 7?14
08rtep Chile rcte
08 1 80
08 7 00
08 S ,00
08 B 00
08lrtoolc IVd A A
08 t.out'n 4a
nan 08
nnuwi l. A B V In
OftU 1 84
4 ooy
St U A 3 Fran
Series A
8 00
7 00
St I. A B rran
Serlea u
1 78
1 73
1
B.
B.
1.
1.
4.
1.
1.
1.
10.
B.
6.
1.
S.
Hud
21.
lud
3.
20.
... 08
... 08
... 08
A Man M
.... 0S
A Man In
40
40
08 (ill Cent'l n'e
4...
1
00, 2 80'st ! Sown Ba
80 3 BBW
89 San Anton! a A
88 I AP nly 4a
8811 1 02
101Int M ct 4aSao Paulo ot
1 18 Draxu ct
M Marine 0( 1 03
2 78Seabd A I. aj
; Intboro III fd l 33
a BSUlSeab'd A I. On
fi
D',,l
.
8.
1 UOtl
1 08(
Canadian N 7al
8.... 101V
1.... 101
1..
1.... 101 U
Ctl Leather Ba
1 80
Ctl raelflo let
8..... 71
0 71
7 71
C A Ohio 4a,
1 73
Chi A Alton Ss
1 44
1 44 Jap Oove't let
Chi A Alt 3 3 83
1 88 Jap Oove't 2ndl
1 83 8 84
C n A Q 0s 2 (aO) 84
8 08'Jbp Ooven't 4a
1 08 4 00
B 08 "0 flOH
1 08 Kan C A 8 3e So'n Tac cv 4a
8 08 1 80) 1 78
2 0rtKanC&SBa 1 78
1 08 1 78) 3 78
1 08 KCT Illy 4e(stand,d Oil of
n unit 3 1U7i
S lill 08 Kelly Sprlnc'd
84 08 Tire Co 8e
t'hlcaa-o Mil A, 6 04
...
1.
63 B 47
BS ( 3 47
Mi: 'Sinclair C Oil
, B4 Corvfa 7a
Ul4
01
01
01
01
01
T Be
81
1
1
1.
1.
B.
1
fcS'n
1
B'n Pacific id
1 74
Bell
Financial Briefs
. Tha Vrae price of twentr aotlre Indue.
aturdar. while twentr railroad war up
.01 per cent at 70.88.
Total gold holdlnn of the Federal Hee.rve
retem are now eloae to the 13.700.000. 400
mark, an Increaae of nearly 1000,000, OOd
over the hlh water mark of laat year, and
lUelf a record flrure.
tt Bl,tl"n by nerelver Welle, of the
S.Wtf iu,1.w,r". Co-. f St, I-oul. to the
f..L,e..B.r.v.lcA-Commlton 'r authority to
leau 1. 484.000 reoeltfr'a certtfleatee at an
i".'."?1 "te ot 10.188 per cent ha been re-
Tdle frelcht car on the road of the United
??" n.u"?b?rd. 860.1128 on Julr Tl. a de-
Xni3n?-."00 r.rom "' WRk prevlou. ao
iu'lll"?, A,..i.l.",,1'emn' b" " American
ruhln Th.X. Jv- MoConneil and Cherle A.
SjW & become co-mrtner with Wll
ih iiw.M?ilnn tnA I: .nueeell nutler under
tho Arm name of McOIInn A Co.
ia-'JiLMmPlr.,?ncil '". ehed to the ehow.
aSL "fS.!1" ,n bJ",k etatement on Satur
2ty.J?JrK5 "other lncrraee In reeervee,
SoiJS .&.?kC ,rt "nP'y wtrryln out the
,m?.?ri-r.1S?ln,r Government oblltratlnna and
got,'.Mlir'clr'latrn0,Unt f K,d"" '""
,M tlX,nT"!rt '. Tr)' memberehlp
old for 18200, off $30 from laat !.
w?.'Xtr,din. """or "t new flnanelnr by the
iknii5in.1,-,Von.T1:Rr,,Pn r-- which aecom.
fi )!; A "1J,nt Newcomb Carlton eay. "It
ln" Pnt Intention to do any nnane-
of AithJ"iirr?rc"nJT "e'llnir. ehareholdere
SIaIIi ?J? " Tramiport and Tradlne Co. nn
Flon.i n?-.Vuth1rt,ntlo,l of 10.000.000 addl.
li ih? dAnfy ,hr'" of 1 par each. brln
LJ5i t.i,oUI "Uthorlred capita , preference
and ordinary up to .33.000.000.
nroureAR'.Va'A' ?oprr .Co- purine June
Reserve Banks' Discount Rates
erai Iteserve Dunka are a follow.!
Trone. I.lb. Com'l nkr.
cur. uonm, I'aper. Atcrot.
Jjoeton n A
New York n u
Philadelphia fl n
5;nl 0 0
Illclimond a a
Atlanta n n
K?;.. 2 2
Minneapolis' '.'.',',', B R
anaa uity ....'n n
Rallae rt
Han Francleco.... 0 0
fl
0
o04
n
n
0
0
fl
8
e
n
fl
n
'
n
n
0
'niinrilint !. AA. ...
r.u iLT. J o-'rreepono wim Intereat
"i?. WiS5mB?f,VrSV'd5Sft." colJat-
t3
t'O
3
eB
f0
Auir.
Kept.
Sept.
Oct.,
Oat..
Ic
Aeked Tleld
100 8-82 -t.Tn
100 4,113
in 4.35
U. 8. Certificates and Treasury Notes
Int. Maturlne
Hale Date TIM
0 . Avk.. 1021 Km) 1.83
1021 .. 100 1-33
1031. . 1011
1021. . . inn 1-32
1021 ... mo'i
1021 . 10 )A
1022 . 100 3.32
1822. . 100U
1U22. KlOli
1023 mml
laXenrDI rfflm nnrm.f h'....i .... .
tArceptable for payment of Income tax due
on date of maturity.
BU rh..
'n Mch.,
BVi June.
June
llxi 7-32 4.87
100.V 4 P3
100 7-22 3.10
100H fl.JS
100 B.13
mo a. ns
St Paul 4e
1 63
4 03
Chleaco Mil A
St P 4 '23
2 74
Chicago Mil It
HIP ov 4 I
1 84
Chlcatro Mil A
StPirn 4e
1 74
C A Nwn d '33
1 00
C A Nwn 0
1 00
1 00
Chi A Nwn 7a
1.... 102
Cbl n 1 A P fd
3 08
C U Bta 4
1 SO
Chile Copr fl1
1 71.
8 71
Chile Copr
3 03
Chlneee Oove't
Hu-K Ry Ba
4 40
City of Bergen
8s rot
3 00
1 06
City Berne 8a
1 08
3 08
1 08
1 08
City of CopenJ
linen B
70
K Belxtum na
1 03
1 03
K Bels'ra 7e
Calif a 7s
4 (a 7) 103S
1.... 103
1.... 103
2 103
Swltz'd Con Ra
1 (s fl) 103
1..
13..
1..
1..
3..
1..
2..
1.
100
100
101
100
100
100
100
100
K Belc'm rite
1.
1.
1.
1.
1.
1.
1.
Klnxdom
00
00
00
00
08
00
00
Den
mark ct 8a
1.
1.
1.
11.
1.
70
70
7fl
70
70
City Maria 0
1 80
C N Tk 4 'B0
7 70
City Pari 0s
1.... 00. IB
a.... 00. IB
4.... 100
City Zurich 81
Z 08
1 08
Colo A So'n 4-.
2 70
COIO A a 4s
1 74
8 74
Cnna'd Oaa 7a
1.... 101
4.... 101
Cuban C S cvj
1.
28.
3.
8.
1.
1.
4....
1....
8....
1....
R....
1....
a....
3....
l....
Klnsdem
100
100
101
100
100
100
100
100 t,
100
Nor-
00
00
01
01
01
111
way ot 8a
1.... 103
4.... 103
1.... 102
K Sweden Be
2 85
7 SB
r.ack Steel '23
... 70
... 70?!
Lack Steel '3U
1 73
1 72
3 72
Lehigh Val fl
B 08
A Myers Be
3 80
L A Myera 7i
1 . . . . 107
Lonr 1 1, en 4a
1 B 08
Mkt St Ry 1st
1 60
Mid S A Or Ba
1 70
Mln A St L U
1 40
Mo It A T 4a
4 fl0
1 60
Mor's (CK
8 74
1 74
Nfl R Mrx 7
1 .I'UML !
. w -
New T Ctl 0j,
103 ,
. 103
. 104
. 103
. 103
. 103',
An e a J
-"A."
, OU1
30
1..
a..
i!!
i..
2.
Third
3..
1..
1..
Third Ave 4
1 48
flldewater Oil
Co ct 0s
1 0B
rroi.do a Ohio
Cent'l lets
8 83
Union Pac cv
1 84
Cmon Pac 4s
2 80',
1 .... 80
1 80
3 80
.! Tank Car 7s
3 ... 100
I' K of G Brit
A I'd 1031
4 00.13
U K of O Brit
A I'd 1022
0 08
3 08
1 08
U K of a Brit
A I'd 1023
2 80
1.
4.
3.
1.
1.
1.
1.
V K of O Brit
A I'd 1037
1.
15.
7.
4.
1.
1.
1.
88 H
RS;
fiR",
RV,
8Si
RS
88
86
80
80
85
80
86
80
U S Brazil 8a
1.
2...
1...
I...
...
1.
00
00
00
on
00 II
8 01 Nw Tk Ctl
1.
1
2
Cuba n
fl2
02
81'
Co a
64
2..
1...
I...
1...
7..
101
101
101
10Q'
101
Denmark toniN Tk Light II
ct A Si A Pwr 4s
8 00; 1 67
uenmarK Con .New T N II A
ct H 8s Hardf'd 8a
a 00 1 80
'.u i. v. mi i no
1 42 B 00
1 43New Tork O A
ueiuiwn Wtntn 4a
...... 41 l 1 .... HRVt
.. t,ui.ui mn iorK Btate
ST. Rlyws 4e
D De Nemours, 3 .... 551.
I'wd'r 7s I.Nev V v U A
3 07 '4 float .u.
Dut Light He I b 3574
3 S3 14
N'k So'n U 8
t. . 01U
Krle Oenl Lien
1 42
3 41
1 41
Nfk A W'n 4s
IB 70
07
07
07
07
07
07
07
03
08
U S Mexico 3i
8 43
L'd B R A I 3
1.. .. 86
U 8 nub'r 7s
7R
Rub 7s
. .. 00
u a emit n a
Mln g 6s
2. . 02
I'M S Steel 5s
1.. . 04
1 ... 04
1 04
1 04
V.C Chem let
8 01
2 01
4. . 00
Va Rallw's 3a
1.. .. 81UI
W A K Slfg 7
V S
Holders of
Belgian 8's
and every investment house in
the country will want the table
of yields at various prices and
redemption dates in this week's
Barron's
Tlic New National
Financial Weekly
Ordinary bond tables show
yields on a par of 100 while
these bonds are all redeemable
at 107 Va.
This copyrlthted table
not elsewhere ilTallnble
Also a timely discussion of
especial interest to owners and
distributors of electric power
securities of the modern atti
tude of public service commis
sions. At principal news-stands, 20c
SPECIAL OFFER You can
have the next six issues mailed
to you by sending One Dollar
to BARRON'S, U Broad St.,
New York.
Philadelphia Office
43G Sanscmi St-
DON'T SEND FOR THIS BOOK
of Graphic Charts
UNLESS
you've made up your mmd
you wish to take advantage
of the present never-to-come-again
opportunities in the
STOCK MARKET.
While the edition lasts rnpleti uW bn
gladly sent upon rereipt of tOa in stamp.
to dafray cost of mailing. Il'rtfe for L-t0.
J. F. McGOVERH & GO.
Members of Phlla. Stock Kirhnnre
1480 South I'tnn So., riilln.
hprore 8116 n.ee 3488
Order rxeriitrd In nil Markets
New Yorki 32 llrnjdwuy
1.. ,
3
1....
3
I...,
Wilson
8....
1...,
1...,
100'
100
100i I
100s
100
100
100
Co 1st
. R4
. 81
. 84
Llbfrty fl s
Liberty 2d 4
I.llirrty
I.iborty
Liberty
Liberty
Vie
Vic Not
1st 4V4r.
21 4Vi..
3d -Wr. .
4tli 4VtH.
tr
IR.
High
WLBfi
R0.S8
R7.34
R7.0S
01.14
87.18
0S..12
0S...2
Iw
8I..54
R0.88
87.34
87.00
01.08
87.14
OS.W
O'S.20
1
P. M
so. nn
R0.8S
87.34
87.00
01.10
87. IS
08 32 1
0S.2S !
Raw Sugar Market Quiet
k.r;& px 1.8bo-u-tThuecrs.v:rornmf1r,
yrA0l,"r.'5,.V.. "rton '.,
Imiwrtatlons, July IB and 16 inolntiv. in
elude 10,000 bag! Porto nlco's "S the Ved
ersl Sugar Refining Co. and 7000) ba Hen
Uomlnjos to the Warner Sugar RarlnlnS
Co The local refined market U unchanged!
Ilet prloea ranging from 8.20 to 5.TB less 4
per cant for caah, '
Liverpool Cotton
I.Wrrnool, July 1. Hoot cotton wae ac-
,v.A,5';.w'i?lv-f'f?J.n.thVba.
:..!' -:i: - .. w iajiuii mr miuaung at
8.88d. The salea were 2B.O0O hl. VT-Ji
war no receipts. . Spot price wera's Amer
..." l.P.OSdi goort middling.
I middling. S.SSd;
ordinary. 4.8d.
Irtain mlrldtlnae
v.ifsita, iui
inl
II ful r mlddllnir. H.HSdj
mfddlln;. 7.48d uvui
ordinary. 8.B84.
Investments
Baker, Ayling & Young
JOSEPH W. ..VAIN, Jr.. Jlunuger 1
Land Title Bide. '
Boston
Philadelphia
Gillette Safety Razor Stock
York Hnven V. & V. Con. 5, 1957
Terre Haute, Ind. & Bus. 5s, 1945
HENRY D. B0ENMNG & CO.
., HTOCIt KXrilANfj. IIU1I.DING
Direct I'rivste Telephone to e York
Mrmhers Phlla. Mock Kxrlmnge
C. S. PATTON & CO.
8P & CIIKSTNl'T STS.
BANKERS
JSurinrii in
4
SAILKR A STKrENSON
liqnu. ami ninca D
memnar I'hlla.
ought and ssld
Kxrringe
. none
Stork
How Does ATrustee
Differ From
An Executor?
An Executor is one who is appointed in a
will to carry out its provisions.
A Trustee is one who holds the legal tide to
real or personal property, for the benefit of
another.
It is the duty of the ExectJtor to settle the
estate.
It is the duty of the Trustee to hold the
property on the trusts provided in the will.
The same corporation or person is often ap
pointed both Executor and Trustee. This
is more convenient and less expensive.
The officers of the Company will be glad at any
time to answerother questions on trust and estate
matters.
Fidelity
Trust Company
325 Chestnut St. &
143 1 nesmuc or.
Capital 5,200,000
yiOUWV
I'M -It'll v
lWiM
-V sW V-m9ittmtk.W I
lW
6324 Woodland Ave,
West PhUadelphia
Surplus 16,000,000
Funds held in Trust more than 250,000,000
We take pleasure in announcing that
. Mr. William L. Stroud
Philadelphia, Pa.
and
Mr. Frank R. Logue
Bridgeton, N. J.
are now connected with us in our
Bond Department
Broad and Sansom Sis.
Philadelphia
New York
Pittsburgh
Wilmington
Baltimore;
Washing-ton
rJf
Un
!aaffe
1A MSnUreZi iniiZTZZZZrr. SAi J ' ' ' tk
" """" l I'l
CHARLES E INGERSOLL
STANLEY E WILSON .
A. D.SWIFT .
DAVID R. CARSON .
ALBERT H. ASHBY .
. Prerficnf.
Vice-President
Cashier
Auiitant to f ne President
Asjutunt Cashier
WILLIAM POST
. Chairman Execunve Commirtc
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital $1,000,000 Surplui and Undivided Profits Earned $,400,000
Jr1
B0LE5 6-WESTW00D
I-lsmberS Phila.iock. Exchange
INVESTMENT
SECURITIES
LandTitle J51d, Philadelphia
PHONE' LOCUST 4721
Manufacturing
Business Wanted
Wish to secure outright or con
trolling Intereat small manufac
turing business, preferably me
rhunlral or technical product, sub
JT!.,. P"slon by application of
aililltlonul capital and exeentle
iihllltr. Ohe rlear outline of
present buslnees and desrrlptWe
matter on proiturt.
3?? l,i:ill)KU OI'irirK
.liiiiiiiiuiii iWi i g'irgii?gtff ilri
UflSAUtt MLujAFogfclJ.'f fa P.. ' .'t1l'-J$''li tlK-1' V vVijJ
KZV: ga-r 1: .-g
. . . 7
ir vt - . .
MIEGNERHOCKEYleif
IJ I Certified Public AccotmtMtt
"" "P"
;rl. (ti'.'t.i-tA-r.Vr,,-., .,