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il, . W- .V . I. l,mJM A. -..--."-- -..-..J J.JJUJ.1.-, W w - J .
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curfv
p (jl Spruce 8200
I? I WE OFFEU
U. S. Trtasufy
3-year Notes
Puc June 16th, 1924
BECtniflKS DKTABTJUCNT
COMMERCIAL TRUST
COMPANY
Member Federal Iteaern Brtm
Cltr Halt Square Wot
hlWBJ
The Habit
of Thrift
opens the gateway to wealth.
A department established to
handle the buying of bonds
' In regular installments "will
mail you its data on request.
BATTLES & CO.
Established 1890
Independence Square (Euit)
Stocks That Will
Sell Lower i
There nre verv important I
developments pending in the
affairs of certain companies
that will, wo believe, vitally
affect the market prices of
their securities.
It is information that
should be-in your hands, and
we will be glad to send it to
you without obligation.
Edwin E. Kohn
& Co.
Blembrra Comnltdatril Stock
Exchanre of New York
SECURITIES
726-28 WIdcner Building
Philadelphia
Nair York. Eiitton. I'ottavilln.
Trenton, Wilmington, ritttliurch.
Dlrett Private Vilr; Connectlne
Ofllff.
Cincinnati, Ohio
School District
5 Vis
Hamilton, Ohio
Gs
Cuyahoga Co. Ohio
6s
Lucas Co. Ohio
6s
Prices and Dctaila
on Application
Bledget&Co.
Real Estate Trust Bldg., Phiia.
Boston Chicago New York
Walnut 1606 Race 4369
BOND TOPICS
Send for our illustrated book
let containing absorbing arti
cle, "New Popularity of Public
Utilities."
Current number of "Bond
Topics" also contains u list
of fundamentally sound se
curities (long and short teim
maturities).
Fairman & Company
Drexel Building Phila.
ntnlillliril 1002
A. H. Bickmore & Co.
Ill Broadway, New York
rrnrrrrmTfrri
GRAIN AND STOCKS
Facts and figures relat
ing to securities or grain
cheerfully supplied. We
specialize in
Odd Lois.
Boureau & Evans
atimb.re PWI. stock Kxclmnrt
1 Lhlc.ro Hoard of Trad
130 South ISth Street
b
Philadelphia
tocuif
S1SI
Knre m
0. STPATiON & CO.
;,,."K'TNV7 818.
BANKEHS
old
wav JULY 31 ,., mm,'
-. "UAPITAL STOCKkktuiinh
"-""UN ni.i,,), ,.,10I1,
7ii 1
iu:x
Oil
!H2n
A'i. I
n'n i
'""' 'III'. TnVlV1' "" " '
fSiS-dphIllips&
0.14
iij.-h
Co.
ehnnr
Dividends Over Five
Times Earned
Through good times and bad
the business of the electrical
power companies goes on. Even
in the present depression estab
lished dividends of well-known
companies are regularly paid!
Weoffcr Pennsylvania-Ohio
Power & Light Company 8
Cumulative Preferred Stock at a
price to yield 8.60 on .the
investment.
Circulars on application.
HARPER&TURNEH
Investment Banker.
ittmltri ef Philadelphia mock Kxehongi
Stock Exchange Building
dromon Philadelphia
Ileidlrm
rm
wwl
Investments
Baker, AyUng & Young
JOSEPH W. SWAIN, Jr.. Man.fcr
Land Thlo Bldg.
Boiton Philadelphia
IIANKEUS
Dealers in '
Investment Securities ,
Memberg Ifrw York nnd Philadelphia '
Slock Kzehanpei
I 321 Cheitnut St., Philadelphia
BOND SALESMEN
Investment house requires
several high-grade Bond Sales
men. Must be experienced and
have A-l references.
Call 632 Widener Bldg. be
tween 10 A. M. and 2 P. M.
V.' Krroninirnil fur Inttntmrnt
Shawinigan Water & Power Co.
FlMt Kef. an, 10A0.
Yield O'Tr
Josq)KW.Gro9s aCa
1421 Cheitnut Street
Corrrvicinil'ii'N Milrcl A ('uiiipniK
John Wanamaker 1st 5s 1923
Pub. Serv. Corp. (N. J.) 7b, 1922
Met. Edison Ss, 1022
HENRY D. BOENNING & CO.
Hl'OCK EXCHANGE nCIUIINO
DlrMt 1'rlTnto Trlphon to Nw York
Unnbn Plilla. Htork Kxobaoia
H.L.SJV32TH&CO.
INVESTMENT SECURITIES
1009 Laud Title Bldf. Spract 6721-2
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
1050 REAL KSTATE IIICHT lir.DCl.
lneatlgata and adjuat corporation and
partnrratilp account! and pttpara Income
Tax naturna.
ri.A'ClI.
i.on nnx
In accordanco with a raaolutlon caaivd
t7 Iht Council of tho City or rinladeipola
oil lliurncUy. July 7, 11)21. the following
bill, antllled "An ordinance to authorlxo the
creation ot an emiKcnc loan not tacrrdlna
one million two hundred nnd fifty thouaand
'1. "30,(100) dollnra for the purchase and
rrectlun ot pUiit. tulldlnga, arounda. ma
chinery, equipment and appurtenance! re.
oulred for the rletnlnr of atreete. and the
rolloctlon and dlaomal of nihra. rubmin
end aarhaxe for the entire city." la hereby
rulillcned for ouhlto Informntlon.
WILLIAM II. KKLTON.
Clerk of Council.
AN OKDINANCH
To authorue the crea.lon ot an rmeritenoT
loan not ecedln ue million two hundred
and fifty thouiand U.'.'fiO.OOO) dollara tor
the purchaie nnd erection of plant build
Inie, Kroiindf, machinery, equipment and
appurtenancra required for the clranlnt
ot atreeta. and the collection and dlapoaal
of ualu-a, rubblib and arbage for the en
tire city
taction 1. Th Council of the City of
Philadelphia ordnlne That an emeiaency
hvln arisen makliiir nereieary additional
aprroprintlnir power the City TreBiurer.
urdor the aupervlilon of the Cocmlttee on
Klnance. ba authoilztd to create an enter,
t'ney loan or loana. en the faith and rredlt
ot the City of Philadelphia. In a eum not
exceeding In the aggravate one million two
hundred and flftv thousand H.lCO.H'iO) dol
lar! for the nurchaae and erection of plant
building, icraunda. machinery, equipment
and appurtenancea required for the eleantm
of rtrreta, and the collection and dlipotal
of aihei, rutblth and imrtiee for the cntln
cltr.
nirlilenda
FKnr.ItAl. HUdAlt IIKFIMNO CO.
July ft. 11121,
The reiulnr quarter dividend of tine nnd
Threr-qiiurtrr I'er Cent. (!"') n th
r'mr.mon Shares and One and One-half l'er
Cent. !lW7- on the Preferred Sharei of
Ihla Cfimponv will Iw paid Ausimt let, IK2,
to Slocknnldera of i-rinl nt the cltue of
IniilnrM July let. ll'!l Tranefer Imnlt!
will not c oie. 1'lKltUE J. SMITH, Trea.
The Hoard nf Ulrcctore of the I'lillndelphlit
JiiHtilKtril Who Ciiniiiiiiir lm thin cLn; de
clared u illUiK'nri nf To IKillara ttt.MII
prr ahare on thn capital atock of the Com
inn, pfitnblo Auiiut 5, to itnrkholdrre nf
mi'onl ut the clone of buelneta on July 3U,
,U1 A A. WinKHAOK
TreaHiirer.
rropoeali
HICAI.KU lMllll'Oh.VLS fOU THE JUII'MIY-
mont of 1B0 men more or'leee In tho
shnpa of the New Cast o County Worklirue
will Iw retelvud in ad Workhouie on
Aujrut t. 11)31.
fiach prnpoaul luut be arrompanlul hy
fDcin-allona of the lilnd of woik nt which
the men will ho einpIo)ed.
The term of iwnploinent to hesln Decem
hor 1. 1021 and to run for one or more
ytTI Trna'jjra reaene the rlht to reject
any or all lilda
Kor further Information addreia
M. B. n.UWMKIt, Warden
NEW CA8TLI5 COONTT WOhKHOUflE
ureenoaiia. ieiaavn
MAN SAVED FROM
DEATH UNDER PIER
Philadelphia Bather, Swept Be
neath Structure at Shore,
Knockod Unconscious
OTHER RESCUES REPORTED
Atlantic Cltr. .Tuly 21. Whirled
under the Stccplcchttun Plr by croiw
nirrcnt", cnimctl by the plllnja of the
ftnicttirf, Hnrvcy .Tnoltson, of Phlln
(Iciplila, bftroly escaped drowning yca
tcnlaj: afternoon when hurled into the
upport.i nnd rendered iinconnclou.
Quick, darln work by Life Guard
Cooncy Raved hl life.
"While hundred lined the Boardwalk
and bench bcllcvine Jackson wn
doomed, Cooney noljied a can-buoy and
battled out to tho side of the pier.
Taking a chance on ferlouH Injury he
carefully edged In untlor the structure
until he reached Jackson's unconscious
form. He continued on through the
pier with hie burden and won his way
ashore on tho uptown side. Jackcon
was badly bruised but recovered un
der a beach surgeon's care.
Ernet Snerlit and Edwin Austin, two
other I'hlfndelpliians summering on
Uoaton avenue, Chelsea, were caught in
the channel currents oil Grammercy
plnce, on the upper beach, and were
making a losing battle of it when
Guards McCnnn and Ioeb came to thoir
anslstancc In a lifeboat.
Ueach Censors Swlnton and Wcscott
got In the live-saving game yesterday,
launching a boat and saving John Mills,
a rmlndclplila excursionist, oil Tennes
see avenue.
Mayor Edward L. Bader yesterday
officially closed the case of John II. Duey,
formerly a I'hiladelphla detective, who
had served as the Cbler executive's per
sonal Investigator, but who was dis
missed while the "leak" nensatlon was
at its height. Judge John J. AVlilto,
one of the Marlboroitgh-Blcnhclto
Hotel owners, had publicly charged that
somebody In, or close to. the City De
tective liurcnu, was "tipping" confi
dence men when to skip town to avoid
arrest.
In announcing the appointment of
Detective Daley and two Now York
sleuths to take chaw of the department,
formerly In clinrgo of Duey and n pair
ot assistants, Mayor Uader declares
Duey was asked to resign "because he
bad become so well known to crooks
that his usefulness was impaired."
U.S. AMBASSADOR HOMELESS
Myron T. Herrlok Is Unable to Find
Suitable Quarters In Paris
Paris, July 21. Myron T. Horick,
thp American Ambassador. Is likely to
find himself homeless after October 1
unless he has the good fortune In the
meantime to find a house such as he
needs. His son searched a long time
beforo the Ambassador arrived, but
found only ttie small Villa Garches, ten
miles from the embassy, which In Just
large enough to hold Mr. Herrlck's fam
ily, with no room for guests,
Meantltno Ambassador Herrlck, who
had to make ceremonial -alls at the
magnificent homes of ins colleagues In
the Diplomatic Corps, has been obliged
to receive them, when they returned the
courtesy, in his ofileo ut the chancel
lery. When be unexpectedly was met
by Premier Iirlntid at the station on Ills
urrlval Mr. Herrlck was much embar
rassed on being aked by M. Hriund
where ho could take him. The Am
bnssador could only be asked to be
driven to the npnrlnicnt of one of his
attaches of the cmbast-y.
Tile lodging crisis make it difficult,
if not impossible, to find just what is
miulred.
SHORE WINS FENCEFIGHT
Court Orders Spite Barrier on New
Street Removed
Atlantic City, July 21. The city has
been declared a victor In a "hd te-fenee"
war, in which Its opiioiient was .Sjr.
Helen Dick Bradley, daughter and sole
heir of the lute Dr. Walter Dick, mil
lionalre realty operator.
The municipality desired to widen
Maine avenue, which sklits the beach
parallel with the ocenu from the heiul
of Arctic avenue straight through to
the rnlet. Mrs. Bradley had Inherited
beachfront property that was include 1
In the proposed right of way. Sho
named a price and the city declared it
too high. The land was condemned nod
the street extended to the desired width.
One night a few weeks ago a gang of
carpenters aroused the cottagers of th!
neighborhood with thoir hnmmcrlng
The neit morning they were startled to
illseowr Mrs. Bradley had caused n
fence to be elected straight down Hn
middle of the highway for a distance of
i.'00 feet, incloi.lng the disputed tract,
Shu placed n guard on duty ntid ill'.'
fence lemulued.
The city went into the courts nnd
)ewterda the fence "went down" b
official order from Chancery.
"REFEREE" WINS A FIGHT
Policeman Licks Federal Agent,
but Loses Prisoner and Job
Atlantic City, July Ul. Thomas
Hubert, it Federal agent, and George
Harris, a city policeman, engaged in n
one-round bout, with Alfred Htamfmd.
an alleged drug peddler, prisoner of
Roberts, as the "referee."
Slumlord had been tultcn to a police
box liv Kobeits, who asked Hitrils to
ring for the patrol. The patrolmnu
refused and an argument followed, com
ing to a sudden climax when Harris
landed a blow on Roberts' Jaw. Hnbcrt-
retaliated and u furious buttle ensued.
Finally Hartls shot bis "Iron Mike"
to the chin and Itobcrts did a "Carpen
tier." 'Yon win," declared Stamford, tan
plug Harris on the shoulder. Then ho
lied and lie is still going.
Now HanH is looking for prize-ring
engagements, as Director Guthbert
count! d 111 hi out ns a policeman when
details of the encouiitvr wero given to
him by ltobrft",
U. S. TO GROW 'LEPROSY OIL
Chaulmoogra Trees Received to Bo
Planted to Supply Remedy
Washington, July t!l.- Introduction
into the t'ulted States of the chaul
moogra tree to insure a permanent
supply of the oil for the treatment of
leprosy Is plunned as a result of a
trip through Hlniu. Burma and Assam
bj Professor .1. F. Bock, formerly of
the t'nlvei-sitv nf Hawaii,
Professor Bock has Just returned to
Washington after on extensive explora
tion Into the jungles for the Depart
ment of Agriculture's branch of for
eign M'cd anil plant Introduction, llo
biought hack with him several speci
mens of the "tnraklogenos" tree.
Within eight years, it Is believed,
enough fruit will bo borne from those
plants to Initiate a domestic source of
supply of chaulmoogra oil.
MYERS SECRETARY
OF COMMONWEALTH
Cyrus E. Woods, Retiring; Offi
cial, Will Bocomo Ambas
sador to Spain
SPROUL COMMENDS ENVOY
HatTisbtinr, July 21. Cyrus H.
Woods, Secretary of the Common
wealth, newly nppolnted Ambassador
to Spain, yesterday formally severed
connection with the Pennsylvania Htnt
Government, personally placing his
resignation as secretary In the bands
of Governor Hpronl. After accepting
the resignation with n statement of
appreciation the Governor announced
appointment of Bernard J. Myers, of
Lancaster, Deputy Attorney General
for the last three years, as Secretary of
the Commonwealth, Mr. Myers will
qualify Immediately.
Mr. Woods took the oath of office as
Ambassador shortly before he Dtesentetl
his resignation to tliu Governor. It
had been oxnected he would resign
about August 1, but the Hccretary de
cided to take up certain duties and
yesterday called upon the Governor. On
returning to his office the Secretary
was met by the entire force, n number
of whom had been appointed by him,
and presented with a handsome travel
ing bag.
Governor Bproul, who was a col
league for years In the State Senate
of the new Ambassador, mid In accept
ing the resignation: "Mr. Woods haa
been a nic-t efficient public iltclul.
Ha has reorganized his department,
one of the most Important In the State
Government, and administered It In a
splendid way. I am loath to part with
him, but appreciate the compliment to
our official organization of his selec
tion to this high place."
2 "JULY EVES" AND AN ADAM
Lonfjport Agog Till Police Raid
Bathing Party
Atlantic City, July 21. Longport. a
quiet, exclusive summer colony on the
southern end of Absecoti Island, bad a
sensation Tuesday night In fact, three
of 'em. F. L. Magulrc, beach censor,
who also happens to be the borough po
lice magltrate, hns Issued grim warning
that they must be no more.
When the moon wnsnt Its height nlonfl
the bench and boardwalk of the little
resoit, thtee Philadelphia cottagers tid
ing their luck with rod nnd reel in casts
from the bench lienrd n giggle nnd n
splash. They looked toward the lower
end of the strand then gasped nnd
looked some more. Two of the sensa
tions hail appeared.
There, revealed In tbe bright moon
light, were two "September Morns. '
According to all accounts either would
have scored heavily as the model for
thn origlnnl "Morn." It wasn't long
before "the gallery" had increased and
crept quietly down In the shadows when
the view was better. The giggling nnd
splashing had continued for several
minutes. Then the third beosntlon ar
rived. It was a man and that ruined
the party. His attire consisted of n
bright smile nnd glenmlng teeth.
"Judge" Mngulre was sutumnned nud
the three were gathered In by a score
or more of volunteers. The Judge or
dered over) body back nnd turned hi
head dun east until the frightened trio
had donned their clothing. Then he
escorted them to his office, where he
read tho riot act. After a lecture he
banished tbem from the resort. Name
were refused todn, but the magistrate
nunoiinevd: "PIiihm and publicity will
follow the next party."
ODORS INVADE CHELSEA
Houses Closed Tight as Sea Piles Up
Mussels and Seaweed
Atlantic City, July 21. Kline Nep
tune bus played n spiteful trick on
residents of exclusive Clielieu and por
tions who must travel by motor or trol
lev below Albany nvenne. A biindrcd
temiH nnd double thst number of cil
while wliiiss. working in shifts for two
uujh, ban been unable lo keep up with
the pranks of the ea nnd jesterdny it
wun necessary to double the out lit.
There have been mvoio -.tortus at i-en
tin Morula) low tide left behind Ions
upon tons of seaweed, trash nnd nius-M-ls,
littering the bench for a half-mile
through Chels-ca. Bj mldiiUht windows
were lowered, even though it was a
trlfli! warm, when the sea breezes were
blocked.
Tuesday Ifcp tide encored and many
u cottager battened down doors and
windows in hope of keeping out the
odor. But It was of small use. It
was strong enough to seep Ibrougu.
Kirk I.ovehind, Boardwalk superinten
dent, got on the job with his force of
men. Hu hud carted awnv mote than
1(H)0 tons of sea waste and today the
clean-ui) continued, lie figures (he job
will requite at least another day. In
tho meantime, Chelsea Is holding its col
lective noses whenever I lie winds come
from the sea.
'POLITICS' IN SHORE S.P.C.A.
Mrs. Bader Elected President; Leeds
Sends Resignation
Aliunde City, Juh 21 - Junior mem
beis of tho Soelet) for the Prevention
of Cruelty to Animals, an orguui7ntion
t lift t for years has been the pet hobby of
prominent society women of the '-sort,
Klole u mnrch on the old udmlnHti'iitiou
and swept them out of office).
The dues of the society nre a dollar
a jear. There was u sudden avalanche
of pu.Miients this week, and young
stei's were included In the lint of
in w members who packed the meeting In
the Chalfontc. Nominations were made
In which prominent men and women,
who for years bad financed the orgunt
ration, wero completely Ignored
In the election Mrs Kdwurd L.
Bader, wife of Atlantic City's Major,
was made president, succeeding Samuel
P, Leeds, president of the Chamber of
Commerce and one of tho owners of the
Chalfonte-Hnddon-Hall, who for more
than ten yeui'H hail headed the society,
SCHOOL HEARS DR. MAR0NEY
Other State Educators Will Address
Collingswood Summer Classes
t'ollIugMvood. N. .1., July 20.--Dr.
Frederick W. Marnney, State Director
of Physlclal Education, spoke jestcrdny
before the summer school here on a sub
ject pertaining to bis department It
was announced that John Enrlght,
Commissioner of Education of the
Stnte, and Melvln A. Hire, president
of the State Bt'iird of Education, would
speak befoie the whool In the near
futuic
In the afternoon fifty or moie nf the
facitlt.v and student. went on n sight
seeing trip to important ecetlons of
Philadelphia
The State Parent -Tcncherf' Associa
tion will visit the school tomorrow
and confer In the nuditoriiim of li"
high school. The morning will be do
voted to visiting the different depart
ments of the school and In the after
noon several jpeakirs will be heard.
GOSSIP OF
. THESTREET
"It is not onlv n linn! thin to do
business these daM." said an uptown
banker jeKterdny, "but It Is also almost
ns difficult a task to maintain a pleasant
disposition. People nre harder to handle
today than ut anv other time In my
business career They want so inncu
more ami some nf the in il,i (he must ex
asperating pica tine little things. You've-
just got to uoiu yourfcolf down and you
amllc and bow to people and look pleas
ant, wncreas, a few years ago, un
hesitatingly you would have Impolitely
Invited them to retire from your office.
"Now the reason I overlook so many
of these Iriitating incidents," lie con
tinued, "Is because I nm pretty much
In about the samo nervous condition
mjsclf. The whole world seems to be
mixed up. fuseil up nod continuously
on the edge of exploding. Some time
ago, I cultnty made a mental anal.vr.ltt
or myself and many of my business as
sociates. It was my conclusion that
for the pnst five years every ono nud
every business had been going at a
neck-breaking speed. It was n case on
all sides of getting out 100 per cent
copacity. Well, the high speed of the
uV..i "r ...it' ..."?..! ... ". I"' r" h
war times suddenly shut down, but in
getting a real good rest, the muddle of
v.;, . ....,,.., ,uc uvil r icaiiv.1....
things in the so-called adjustments linn
necessitated renewed, rather than les
soned never energy.
"In consequence," be concluded,
"most of us are nt the breaking point
and become Irritable upon tbe slightest
provocation. In the last six months,
Leaps ot insults have been lodged ugnlnnt
me by my friend'. Understanding tbe
real conditions nnd the -causes, I huve
forgiven them nil nnd I want others to
do the same for mv shortcoinlnes."
Professional Still Bearish
A canvass of the Street after
the
closing yesterday indicated that the
speculative element is still wholly com- , "j.,; '"",' ", '" " fV' "'J'-,, ,'." ' , .,
mltted to the short side and Is not ills- f r f"n ' .1 flnnr. the cr , T
liT1 l;,?a,kn, nnr, vontu,r ,n Z 'i0,g ! " Wu " , ,
li S,,.M.MPI Hm " r0?'1 ,Hvi,Von-' in townrds Western centers, ana iiinu
hr?? T in1" i"K lu CTCfnJ1,T!rall-v " will have a hardening tend
for te ",,l,,,y P'il Uti "T" f ?,.n i "" for th" tlme helng. However, in
f. .n " "" imn fl"d '? ' ru '" "0,m rftRM "le lendencv hns been easier.
w. irt..0f Un "laT.ket ,.Mi and there havo been more loons made nt
here Is a better outlook for the rail- , rM tnntl 7 ,,er Cfllt for ,.omru,rVini
load stocks than has been the case for pap(.r I
Tir!L f0ir8, . , . . -i .. The general attitude of Interior bank.
..c., .... ..., , , ,-!,.., r..H r tu uiscournge the lin d ng nf grain
cle elopuients that may occur nt the mck OI1 le fnrmrrs. nnU r017ntrj. hold
lallrond conference held In New Wk B orc M , o 1IqtlI(,at(. ,Mr i
jesterday for he purposo of dUculng i holdings ns ranldly as possible. This
the reported tentative agreement wild attitude on the part of the banks is
tohavebeen reached between the steer-I (I)Pcfe(1 ,0 rll)t , frpp I110VCnPI
ng comm tee of tbe Association of 0( ,Uirnt ,, o, , A ,hl.
Kailroad Lxecutlves ami the (.overn- crop SPnson progresses, the demand fori
inent rcpreientnttves It is also under- crop-moving funds will increase, but,
niu.u iui uie i-iimi ituuu ui ui.s iiiiiin-
cial arrangement the luterstate Com
mercc Commilou will be leady to an
nounce its plans for consolidation of
various Hues into the larger systems.
As a mutter of fact, it bus been many
.vears since there was so general join
ing of hands to boost the roiliond
gniue. There is no end of the railroad
propaganda.
t urioiisly, n great many holding rail
rood stock'd nre taking it nit in but
doing n powcifu! lot of thinking, ns
indicated in the constant shifting of in
vestments from blocks to seasoned first
mortgage bonds.
British Export Cndlls
The British Board of Trade has nn-
nouueed the opeiatiou of u revised
scheme of export credits under which
toe mulsh (iovernment instead ut malt
ing advances to exporters guarantees
bills in respect to approved exports. The
sch'me bus been enlarged to Include
countries within the British Empire ns
well as the countries ot Eastern Europe
covered In the original plan.
Details of the new scheme which have
just been received b the Hunker' Trust
Co., of New York, from lis English
Information Seivice, are In brief ns fol
lows :
The Government will entertnin pro
posals to guarantee duifts draw n against
shipments of goods to the countries
named In the original plan, namely.
TtoSefisSsiiiixSr
Fdr old Roofs,
Ordinary paint is only a protection to what
you already have in the way of a roof.
Fibre Coating is more it is a rebuilder of
roofs. It saturates, fills up, builds up, add3 on.
It contains genuine asbestos fibre that can never
decay or evaporate.
To apply it is very much like putting on a
layer of new roofing. A gallon and a half covers
a hundred square feet. It rebuilds metal, com
position roofs or gravel roofs.
Let us tell you what it will cost to increase
the life of your roof.
HtfiKlqunrtoca for tho building and inettltahfng prorfwefo of
ASPHALT ASBESTOS MAGNESIA
"A Roof for Every Building"
CAREY
W
a
Finland, Latvia, Estbonla, Lithuania,
Poland, Crecho-Slovakla, Serb-Croat-Slovene
Btate, Buraanla, Georgia, Ar
menia, Bulgaria, Austria and Hungary,
also all parts of the British Empire
excepting, for the present, India, Ceylon
and Far East possessions, The guar
antee win be given to an extent notex
cccdlng HS per cent of the total amount
ot tne bill drawn against tne shipment.
The Export Credits Department will
decide the proportion in each case, tak
ing Into consideration market values,
net profit and security.
New Plan More KtMtlc
This differs from the previous appli
cation of the, scheme In tlirtt the amount
Is no longer based on the actual cost
of tbe goods, and the Government only
guarantees up to a maximum of ts
per cent of the bill, whereas previous ad
vances were up to tho full 100 per cent
cost of tho goods. If tho Importer puts
up security to cover the whole amount
guaranteed, tho Government, In case of
default, will huve no recourse ngalust
the exporter. But the Government Is
prepured to operate the scheme In rases
where he Importer puts up less than
full svoiirlly or even In cases where the
Importer put up no security nt nil.
In such cases, If there is a lost the
Government will retain recourse
ngnlnM the exporter for half the loss
niter the deduction of the amount, If
any, paid by the Importer and of the
nti,,.,.,., ...11...1 I... .1... ...tt.. rl I.I
i.t.fc irniibru ujr l"V (jrvtu uj i.iivuim
some security have been given).
The new icheine offers conditions on
which the Government Is prepared to
make arrangements with private banks,
banking hoiioex and credit associations
for p.irticlpntion In lossm Incurred bj
tlirtl! I). l.n.H.ttAnii k-.(ai1 tl,n,l. ,.,
exporters. For an agreed premium the
itoverninent will take risKs up to 70 per
cent of such losses. It is contended that
the amended scheme provides greater
elasticity In respect to financing ex-
porta nnd In ncceptnnce of necurity than I
iie old plan
l, ...,.un ... .t. !,.... .f.,.i. ,..
n, t. Southwest the wheat niiticarx to
he seeking market channels with onlv
n moderate call for assistance. More
funds probably will be required when
the Northwest crops begin to be deliv- '
ered.
The Iron Age In discussing the ieei ,
situation this week says: "Cutting of
steel prices announced early in July
hab been more general In the Inst week
particularly In plutes, structural sbnp
ie-eniorcement nnrs and sheets, lav
orable feature has been that more busi
ness bus come up. In the eugerness of
P'oducer to get u share of it, prices
suffered.
"Hnitroml und construction demnnii
nre responsible for most of the week's
' nctivltj In plates and shnpes and tli
I'ccouipunj nut concessions of ,H to S."
per ton in the prices of the tw"o prod
ucts. Buying was not such ns to in
diente nny change In the general situa
tion, much of it having been in sigh'
recently reflecting fnvornble prices.
"Aggressive competition between the
Steel Corporation nnd Independent
steels bus been seen in the Chicago
market. Pittsburgh basing bus gone b
the honril In that district and on a
small plate order from a railroad l.Sd
cents, Chicago, was done. Presumably
lower prices were made on BO0O tons of
steel for car repolrs, 2000 tons placed
lij one fabricating company nnd 11100
tons by nnother." THE TRADEH
EXCLUSIVE DISTRIBUTORS OF
PRODUCTS
ROBERTS AVENUE AND STOKLEY STREET
PHILADELPHIA 3I-2V
Make Time Pay
rPHE Day and Night Banking
three business centers is
one-half hours a day.
AN ACCOUNT opened at
same financial service at
WE CORDIALLY invite you to visit our nearest office and
consult with us on any banking or business problems
requiring expert advice.
FranklitM rust Co.
F.JI li.
Delaware Ave. Office
Del. At. & Market St.
t)ien frnm 8. HO A. M.
nut II 8 P. M.
Capital $1,000,000.00
JiiS
Main Office, 15th St. below Market
Onen from S.SO . M. I'ntll MMnlfht.
The lnntitutior ttmt ai I'hiladelphla Day and Night Service
SEQUENCE
and
CONSEQUENCE
Economists base their forecasts upon the accepted
cycle of business conditions. The arrow indicates
our approach to Falling Money Rates (1the forerunner
of Rising Bond Prices.
Rising Money Rates - 10
Rising Land Values 9
Rising Com. Prices 8
Rising Stock Prices 7
Rising Bond Prices 6
Doesn't a study of this business cycle show that it it
the part of -wisdom to buy long term bonds now?
Our organization is at your disposal in selecting the
security best suited to your individual requirements.
Special Circular L-211 upon request j
Coffin & Burr
Incorporated
Drexel Bldg.
Philadelphia
75,000,000 Guilders
Government of the Dutch East Indies
7 Forty-Year Sinking Fund Bonds
To bt lrvud tlnn wtrk in Ann'i-rdnm. Holland Intcrnot payable Starch
and Sevtetntiiir. Hrdcrmtitjlt, at par liy annuM ttiawtnca.
Sinking Fund cannot be increased1 until 1926
On account of the pievaiiinjr rate of exchange on Holland
these Bonds can be subscribed for ut a depreciation of 20r.
Dutch banknote i irct.Intion being covered to the extent of
B57 by gold the recovery of Dutch exchange appears
assured. When the exchange hus lecovered to normal, the
profit to the buyer should be about 2oCo and the yield on the
investment about 8-74 cr. The security being fust-clnsa we
highly recommend these Bonds for investment.
Price 100
We invite aubicriptiom to thia iatua for trammiaiion to
Holland on or before JULY 21, 1021. Payment to be
made on or before Aujjust 9, 1921, againat our receipt.
Particulars on application
BOISSEVAIN & CO.
52 Broadvay
1812
Pennsylvania Company
For Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus - $7,000,000
Member Federal Reserve System
im) vi) stukkt oniCK
Cliiatnut nil Jiinlixr Slrtfli.
Many authorities on market conditions
agree this is buying time
These opinions have hcen collected
by us and appear in this week's 2-1- page
'Inve6t9r and Trader" under the title:
Is now the time to buy stocks?
Call, phone or write
for copy.
Ask for TU-W
V
Service such as we render In
at your disposal' fifteen and
any one office insures you of the
the other, two centers.
West Phila. Offict
52nd & Market Stt.
Keen frun s.Xtl A, M,
until inlilnlclit
SurpliiH $700,090.00
1
Falling'Bond Prices
2- Falling Stock Prices
3 Falling Com. Prices
4 Falling Land Values
Falling Money Rates
5
Telephone
Lombard 546S
New York
191
THE
517 Chestnut Street
Philadelphia
PHILADELPHIA OFFICE
WIDENEK HUILDINO
Tlphonei! Hall, Lociut 4711
Kcytont. IUct Gill
BALTIMORE OFFICE
411 EQUITABLE UUll.DINQ
Telephone! St. Paul 8161
Dlrrct Private Wires
HrwYork Chtcato Boiton PlilUtUlphla
Fittabursh Detroit Baltimore Cleveland
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ittmbvi Xiu York Ovrb Markit
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