-iv1.
jrpf'w
:vr- v
s- yii
'iTM"
.;
.&
i-
'M'
& ,-.
.
v-
IB
EVENING PUBLIC -EE3DGER--lteljADEtiPHIA, FRIDAY, AWUST 5, 1921
p
'Jt,
iVew Issue
ift '
$5,
1,000,000 - '
The Otis Steel Company
First Mortgage Twenty-Year 8 Sinking Fund Gold Bonds
Dated August 1, 1921
SERIES "A"
InterestPayable February 1 and August 1
Due August 1, 1941
Authorized $15,000,000
Series "A", to be presently issued $5,000,000
Redeemable in whole or in part at the option of the Company on 6 weeks notice on any Interest date up to and in
cluding August 1) 1924, at 110 and interest; on any interest date thereafter at 107)4 and interest up
to and including August 1, 1926; thereafter at 107) and interest less for
each 12 months or part thereof elapsed after August 1, 1926.
Pennsylvania personal property tax of 4 mills rofunded.
Coupon Bonds in denominations of $1000, $500 and $100. registerable as to principal.
Interest payable in New York at the office of Blair & Co., and in Cleveland, without deduction for any Federal Income taxes to
the extent of 2 per annum which the Company or Trustee may be required to withhold.
THE UNION TRUST COMPANY, CLEVELAND, TRUSTEE
For information regarding this issue we refer to a letter dated August 3rd, 1921 from Mr. G.
Bartol, President of the Company, copies of which may be had from the undersigned on
request, some of tho items of which he has briefly summarized as follows: .
BUSINESS established in 1873, consists principally in the manufacture and sale of steel plates,
sheets, castings, pig iron and coke by-products. "Otis" products bear a high reputation,
having been sold for'the past 48 years. Customers include railroad companies, boiler manu
facturers, ship builders, automobile manufacturers, oil companies, machinery concerns, etc.
PURPOSE: To pay off approximately $3,500,000 current indebtedness and to provide ad
ditional working capital.
FIRST MORTGAGE: Bonds are to be secured, in opinion of Company's counsel, by direct
first mortgage on the entire fixed properties now owned. The mortgage will also cover
similar property hereafter acquired.
i
VALUATION: The general property account (less depreciation) is valued at $16,099,583; the
securities owned in other companies are carried at $1,404,124; and net quick assets as of
June 30, 1921 (after giving effect to proposed bond issue) at $7,384,344; an aggregate of
of $24,888,051, equal to nearly 5 times the proposed $5,000,000 issue.
NET PROFITS, after depreciation, for the 4 years ended June 30, 1921, available for in
terest, before Federal taxes (apart from inventory adjustment since December 31 last)
averaged $4,149,715 per annum or over 10 times the annual interest on these Bonds.
After provision for Federal taxes, said net profits averaged for 4J4 years $2,167,988,
or nearly 5A times the annual interest charges on the new Bonds; this average includes
the unprofitable 6 months ended June 30, 1921. Since July 1st encouraging improvement
has occurred in volume of orders received.
Net profits available for interest for the year 1920, before Federal taxes, were $1,615,
008, and after provision for Federal taxes were $1,543,482 or approximately 4 times the
annual interest on the new Bonds.
FINANCIAL CONDITION: After giving effect to proposed bond issue current assets as of
June 30, 1921 were $8,366,189 and current liabilities $981,845 or a ratio of over 8 to 1.
These net quick assets alone equal nearly 150 of the proposed $5,000,000 issue.
SINKING FUND payable semi-annually commencing May 1, 1923, will provide for retirement
through redemption or purchase annually of $250,000 of Series "A" Bonds.
PLANTS have combined annual approximate capacity of 360,000 tons of pig iron and 450,000
tons finished steel products.
The legal proceedings in connection with the issue are being passed upon by Messrs. Cravath, Henderson, Leffingwell 6
deQersdorff, New York, and Messrs. Squire, Sanders & Dcmpsey, Cleveland, Ohio.
Interim receipts or temporary bonds will be deliverable in the first instance. AH offerings are subject to authorization of the issue
by the stockholders, to approval of proceedings by counsel and "when, as andjif issued and received."
Price 99 and Interest, Yielding 8.10
Blair Co.
INCORPORATED
STREET, PHILADELPHIA
CHICAGO SAN FRANCISCO
1518 WALNUT
NEW YORK
The statements presented above, while not guaranteed, are obtained from sources which ore believed to be rellabas.
$100,000
City, of Philadelphia
5& Per Cent Bonds
Due July 16, 1971
Interest January 1 and July 1
Coupon and Registered Bonds Interchangeable
Free of Pennsylvania State Tax
Free of All Income Taxes
Legal Investment for Trust Funds
Price: 107& and Interest
To Net About S.09 Per. Cent
Biddle & Henry .
1 04 South Fifth Street
The Information and atatlatlea contained herein have ben
obtained from sources which wo believe tn be reliable.
New York Bonds
BALES IN 110001
ABA IV os
1. . 70V4
1 ... TOW
Ainn T ft T clt
4 . . "
A T ft T ev 4s
2. .. TOW
A TATcv i'is
4 ... 8TW
Amn T A T (la
1. ... M'4
Amn T ft T 01
2 .. 100,
T..,. 100
1 ... 100",
2 . . . 100H
t . . 100S
Xrg'o llep'o os
1 . . .
A T & H IV J
a 72'
2 ... 724
B.. 72
A T ft 9 IV Is
1 . 70',
Alch T ft H K
Ilky Mt Dlv
fi .... 71
t Do Nemours
Pwd-r 7W
08W
87
08
0
OR
08
07
08
07i
N Tk Telen 0a
1 03V.
New T W C ft
Host 4V4
a ... any.
Norrti We'll U
Tela n 7a
I (a 0) 101
Tiu'i Light a
22 .... P1'4
1 .... 01 W
a .... nm
1 ... 01
Kris Oenl Men
ft .... 44
1 ... 43
nrla II n cv A
1 .... 30 'i
i;rlo It It cv D
1 ... 42'
I .... 42'
Gens'l Ulec Da
1 ... 87
One" I I'l'o fls
1.... 102
A Const I. 4a 1 101 '.
2. .. 70 V 1 ..102
A f'oast I. "sfioodvear Tiro
2 .103 A llub'r Ha
Atlantic Ilet'ai 40 .. 102
ct OWs 1 ..102
1.... 101V4 2S . I02
1. 101 V. ' 1 . . 102W
Atlas Twdr Col 2 102U
wl 7W ' 3 .. 102W
2 ... 90S 1 . 102
2.. Ofl'i.Oovo't French
Halt A Ohio cv It 7'4 rcta
1..
1..
1..
1..
1..
1..
1
102W
102W
102'i
102W
102U
I02W
102
N Pacific It 3
1.. .. 07
Org A Calf Its
5 WlH
Pan A Pitr-m
A Tr Co 7
1.. 80
Pao O ft K 5a
1
Fa, II gni 4 '4 a
B 81W
fl 81
Inna It 11 fn
1 87 4
2 H8
1 8
Penna Hd !'"
8 . ... 71 49
2 .... TlWl SO
Bait A O 3M.fi! 1
1 87 I SO
1 ... 80 ! IB
Halt A Ohio 3 a
1.. .. 72
1 . .. 72
Halt Ohio 111
B 01 '4
1.. .. 01
uft o awn a't
2. .. 834
IJ A O Tol 4s
1.... BO'i
Cell Telephone
of Pa 7a
0.... 10S
1.. 100 I
Bath B Ba '3ft
!.. 77'
3
1. . .
1
1
1 ....
1
I ....
I
1 ....
1
1 ....
I
3 . .
Oove't I"
1 ...
00
now
084
004
00
004
00
0T
00
00 4
00
00
004
00 4
08
00
00
00
It 8a
100J
100
1.
0..
17..
2..
B..
34..
1..
1..
2..
1..
Udn Cop M 0s Od Trunk rcta
1 80 1 .. 1024
1 85, 1 ... 1024
20.. . 85 14 1 ... 1024
Bkn Edl D 7a fi Nth Rwv
1
3
2
Ilkn Edl
1
00
on
ns'
C 7"
n
Bkn n T ci 7a
1 4
Buah Hid K Ss
1 . . -i
Canadian Nth
04 rets
B 08
2.. . 08.
Canadian N 7s
1 102
1 ... 102
4.. 102
2 . . 10.1
Cen'l of Cla i n
S M'.
S
B
1
1
3
2
1
1.
t
1
1
2 . .
I . .
I ..
Hock K V
1 .
100
100
100
100
100
100
100
100
100
100
100
100
100
loos;
44s
734
00
00 4
III) 4
nn
on
00 4
nn4
09 4
nn
o
no
Fenna ft ft 7s
1.... 103
1... 103
rere Marat fls
2.. .. 83
Readme Co 4s
1 70
11 70
Bap Chile rcta
1 OH",
1 084
1 084
1 08 4
2 (a 6) 08
1 (a 0) 08
8 084
1 084
nock ll'd A A
Lour a 44s
1 074
B 674
61 L a K I
2 08
1 08
2 fiU4
2 884
St I, A S V In
LONDON STOCK MARKET
Firmness of Money Restricted De
mand for Gilt-Edged Issues
Iindon, Aug. ft. Oil shores nhowotl
a disposition to 'aft on the stock ex
oliniigc! today. Shell Transport oiul
Trading wan .iVi nml Mexican Kitglc
f'4. Kirmiiosi in tin monetary situa
tion restricted tlie deiiiniid for gilt
edged luetics, mid tlicy were dull. French
lonno were easier, following Paris, hut
changes were imrrow .
Dollar ilescription were irregiiinr,
but lower In the muln, owing to unxet
tlement at New York nml In s.vinpntliy
with New York exchange, Mexican
rulln were .strong features on announce
ment of Increases in rates. There was
moderate profit -taking in Argentine
rails. The shores of home lino were
henvy and without support, although
they were not nctive.
The Industrial section wn steady
and practically unchanged. Hudson's
Hay was ()','. An Improvement in the
Htaple caused a tinner tone in the rub
ber list. Huyliig orders from .lohaunes
burg stiffened kudus.
In the main, the market were listless
unil the nttendnnce was not large.
Phlla. Federal Reserve Bank
of Philadelphia at th rloa of bualneas
August 3 follows
nEsofrtfEH
Augii't 3 Julv 27
Oold and gold cr-
tincatea . . 2,np 00" 12,052.120
Oold "tllemnt.
fund. Tederal Un
serve Hoard . BO BB4.fl.1t 40 103,783
WOOL IN LIGHT DEMAND
Manufacturers Buying Only for Ur-
cjent Needs Prices Are Unchanged
K1NNCIAI.
KliNTM'KY I'lIIIMC NKRVICK COMrANT
Hi.MtiMi FiM) Miner,
Hcalfd nrtuniFRl will lie recehrd at tha
iirTIco of Flilolltv Trust I'nmnnm Nm. 825
31 I'h. stnul street Philadelphia for th
'!!. .....,.t -.l i I.I.I., ,..,(I.,,UII.. nit , " " lo 'he Tiusti'o 01 n aumcletit amount
I lie wool traile is fair V otitimisiic ns .. ,h. ..,.., m,,,, -. .... ,.,., nM nnndi
to future business, but. for the prc- of fie Krntuikv Public HorMie Compsny.
ni iti.iiinnil cnMlliiiiMs lltflit mid IIIOIIU- dated tVbrunry 1 11)111 lo Inveal tha sum
ent, tamanu (OntlllUIS Igni ""." '"""''. of tntno (III nnd the said Truatea herebr
facturers are buying only for tlieir most BVPB not'-e of its intention to m apply ths
urgent needs. Prices continue un-I said fund. I'mm-m nmst sen r.t and
i" i i.i i. i i ., ...... l.wv , iresnted lo tho said Irustin liefiire 13
tiiiiiiKt'u. uiuiui Rii in.-ii- in ,i "".' i o'clork un Tiiesilnr hept iiiber 0. 1041. Na
I'H
ttntnntKl (ililrkctlf. orrnr ci -ptmx liiL'U hpi trnt nnd flperu'
I (IP I IKII
IfH HUCh
nnlfl At
Trunin' on Thurtdn., HfP
tn ndrntirru ivhiMi
says the weekly review of trnde for the intjrejj, w... I rxcepted Th,
local district by II Dun & o. . t,ond ns mm ti Hi-errumi will I
Cotton yarn snows utile or no
change, prices remaining firm. Among
Hud A Man fd
1 084
1 .... ns
1 08
Cen of Or 1st 1 . . OS
11 . M, 1 07 4
Cen'l of Ga 0s Hud A Man Ir.
7 . . . sn '
Ctl Leather Bs
1 80S
Ctl Pacific 1st
I..
1
!!..
1. .
3 .
1
1
73 I
73
73,
73 ,
73',
73 ,
73 ,
434
43 'i
434
434
43
43
ta
B8
BHVi
BB
BS
BS
B8
B8
B7
frft
C A O cv 4s
2
fi
1.
1
78
77
77'.
Ill Cen'l 4s 'S3
3 .. 70
111 Cenfl B4
S . .. 01
Ilia Steel 4 4"
1 .. . 81
1 R2
Inlbro R T fd
12
I
7s
"8
7 4
2
B
3
1
S
4
1.. ..
2 (a 7)
1
St I. A fi llun
Series a
1 .... 02
B 02
1 0J
3 02
S 02
1 024
Pt I. A S Fran
Series B
B.... 71
St L, A S Krnn
Series u
8 . . 00
St I. Sow'n en
7
3 04
M I. Sow'n
1 08 4
1 08
1 08
Bt P'l Kan Cy
S I. 4s
1 00
S 004
B 00
Total gold held
by bank SB2 0.12 804
Oold with Federal
IteserNe ftcent . 144 044 2 1
Gold redemption
fund ... B 4H7 0()
Total gold re-
serxes ..202It;n 1201. 019. 128
Legal tender notes
aiiver. eta . r 201 una 4.607.70T
tBI.lSS.B03.
142,322,103
8.171.000
mnniifnettirers. trnde continues dull
and buying is predicated upon demand,
which is only for current need. The
general trade looks forward, hupefullj,
for Improved conditions In the early
fall.
The review, continuing, goes on to
say :
"Wholesalers and johbcls of woolens
state there bus im-pii a lonsiueraDli1
the nfTlc of Hip
tetnlier R 10.21.
rmni.m thi -t rmri'WY
PhllndelphiA
vm p oi:r
UKUSt t 1021
Trustee,
President.
KTNKK'llir,
Total resei-N'es t207 38.1 M! t200,21fl,H33
13111a discounted
secured by United
states uoern
mnt nbllgatlom
All other . . .
Dills bought In open
market .
s7 r.nt 340
34.010 sno
tS,708.370
83.380.140
OKI. Oil
1. 10B,488
Tola! bills on
hand . tl22.01 278 1120.200, 014
United States bonds
and notea . l.A.IO flOQ 1,540,000
United States cer
tificates of In
debtedneaa One year rertltt
rotes (Plttman
Act) 20 780,000 26,780,000
All other I si noil 4,()i'0
Total earning as-
sola J1S1 200 17S 148 833. 014
Pank premises .
Fl per cent re
demption fund
against Federal
rtesene Hank
not
L'ncnll-cted Items .
All other resources
1520 334
70 onn
AH Sin 000
Ids (02
1029.33 f
700 onn
4I.poo.iiob
2S0.S37
NOTICR N hereby given Hint the partner,
ah IP heretofore existing ti tween Jlenrr
Folkman ond Morris OoldenlierK. trading as
"L'nlon Ureas SKIrt I'omp.uiv" was dla
oied bv niuiu.il "onseiit on July 14th. mm.
All persons i..1ebled to the said partnership
will P the same to llenrv Foiknmii and
1 itwinht linn., tine bv the parlnershlD will
foiling off in business for the lust few ' be pid l Hie SHid Henry FolKitmn wtio
months no orders being sold. Tailors , w.JMomi.iue ,0 conduc. .no business at ,h.
Srmodera'tV'"ny.f"r ,l,,m",,lnl" m""'S '" vwllliWluuKS:
".Mnnufactuiers of men's nnd bovs rFsurit'.i: is iii:ki:iii hhi;n that
nlntlilncr luivo liml 11 miri'i'ssfnl season . ! J tbo narin-rslilu hrlofni. exl-tln
many of the larger plants being at
present closed, milking preparations for
the fall.
"The hnrdunro line shows a fair
amount of activity for midsummer, but
It is believed thnt the volume of business
Is much less than for the same period
during HlliO. There is some reducion
In prices nnd collections are about
norma I.
"The electrical trnde reports n fall -Inr
ilT In thn ilcmnml for household
specialties, though there is still a fair r'"nt' ,'iUoie,i on Ju'y 1
volume of imslness in unit uirccrion.
Manufacturers complain of dullness and
jobbers nnd rctailei-H are rather quiet
Prices. 011 the whole, remain tlrm and
collections show improvement.
"The stove trade is quiet on staple
goods and foundries ate operating with
greatly reduced capacity. Jobbers and
retailers are fnirly busy on supple
mental heating apparatus. Prices nre
reported tlrm and collections fair.
"The leather market continues quiet
anrl tiripi.u atuuilv Stntns 11 ri In mod
ernte amounts. ;,,, kid dealers and -;K;V' 0(,Tu",ilnM
mnnufnctureis sn sales are in larger nrPinc Co. iii br hid nt tii oftlc- of
amounts and prices remain steady. The tim . miwrn, .'Hth md Parrlsh ts. Phil,
.leman.l for colors nnd higher grades .i;"! ,.,.'; 'if. "J-ii
continues Shoe ilcnlers are doing a rir,.or,ni mcrivir m m f -uiwidiirv eom
modernte trade, but purchases for fu- pi .,t-..T , -.,t-t- m
ture deliver are not sufficient to indi- 1 u m' tr ' N k "r.tiry.
cote what the demand mny be Inter. .(uct' " -ioji
and there nre onh modern tu stocks on ,s, vTM r( 'TT umc ami mku-
hnnd. ,k;r (IIIMs III II.DIMi . AMI LOAN
"Wallpaper mnnufncture.'s. jobbers .-.JIJ'.VTi'm m a r-olu-
hud dealers report business quiet : pur- 1 tln ,f ,tl. iionrd of li, ertor. .,f the
chnses nre in moderate iiuantities anil Mnmifurtiirers nnd Menlinnts" Untitling nni!
ng M-
tveen Jnrnli Murks ami iiiiiiui iimiie.
under 'le Onn earn.' er tn.. lllegneny
Intfter to., nt 3IB7 00 Wclkri t has been
illeole. 1, mutiinl rcmnent All claims and
ritrrnnds ngnlnt th s-im ne " be pr
pelted for pum-nt in Jiirub Mar'. ft W
rnr 3d and Christian sis
.IXttiH MAIllit
WH.I.IAM III.ANC.
AllCtlt .1 1'I21
msMll.l THIN III" PAICTM'.USIIIP
I Null' " Is hereby given that th partner
' ship heretofurp 1 xlsung between llilnln R,
1 Kohn ami Clod V. Koontr. trinbng a
1 u.,iii7 A t'nmtiun. at 720-72S U'ldener
liu Idlnu P'ul ul 'I hla mutual con-
le, nn ju'y i ii'.i i.y ine pur
fhH-e I, K'lm K ivoiin or in- interest
of rimd Kotint and th- n-tmrntnl of
il1M nn d i-l'nd ' Koon fr,m the said
pa'tnerh p
rn end !-Min II K"hn will conllnue to
rfindu't th. bus 1 s In rrtnerhlp with
qmrc- Hamld Kohn under the firm nam
of ndwln K. Kohn A Co., and will pay nil
the indebtedness "1 the sul'l m parlnershlp,
and to them 'ill at rounts due the said co
partnership shall te paid
1 KPWIN K. KHHV.
1 I.nrt V KiK'NTZ
UE'inriB IIAH"I,L KnllN.
f-peelll Meetings
Total resource 0l 0.-.2 4S7 1101. 203. Sir,
UAHU.ITIF.8
Capital paid In
Surplus
Kered for Gov
ernment franchise
tax ...
Deposits
Government
Member bank, re
perve account
All other . .
8 022 000
17 Silt 127
3 007 0(10
313 2H7
102 H9S 2H7
I 324 234
JS, 022,000
17.BS4.127
2.032.000
3.8SB..131
07 MA.IBO
1 010,282
B ... Sfi' I .. . 00
1 .... BBS. jfan I'nulo "f
1 ... BB Urszil ct 8s
1 .... BS 2.. .. ns
1 BB 2 . Iis
C'k A O cv fis'l M Marine lis 1 .. 0S
4 83 2 . 7n I ih
Chi A Alt 34s 1 ... 7t' 1 84
t . 3B'i I . 70 Sebd A I aj
C B A Q II lsilnt'1 Paper 5s I 1 . . 20
.1 (s 7) SI ! 1 ... 80 ISeabd A I. fd
Chi II A Q cmilowa Cent'l 4e 2 . 1
1 ... 711 1 I . . 40 1 Air I. 4s st.i
C n A O 04s 1 . 40 I 2 . . BB
2 . 100 Jap (JoM-'t Is'isvab'd A I, Os
3 . . 100 1 2 . . 83 ' 11 ,-.n
1 100 2 . . SSi, ' 1 , . .in',
Thl A K III 5s Jap Ooe t 2nd 1 .VI
1 S!) j 1 8V .',11
Chi A O W 4s! 1 . SB s ni-lelr C nil
7 .. . B3 Jap Omen t In 1 nrpn 74s
1 . S3 I 1 . 70 V I
Chicago Mil Al 1 70 .'
St Paul 4s Kan u ft s 1
TO THE HOLDERS OF THE
First and Second Preferred Stocks.
OF THE
READING COMPANY:
The common stockholders of the Reading Co. havlnp appealed
from the decree of the United States District Court, which approved
of the plan of dissolution pivinp equal rights to the preferred nnd
common stockholders, it becomes necessary for the undersigned
Committee to take appropriate court action to protect he interests
of the Preferred Stockholders.
A circular concerning this action is being mailed today to the
Pj-eferred Stockholders represented by this Committee. Copies of
such circular mny bo obtained on application at the office of MR.
ADRIAN ISELIN, Chairman, 86 Wall Street, New York, N. Y.
ADRIAN ISELIN,
Of A Iselln A Co
ROBERT B. DODSON,
Trustee J. A Oarlnnd Kstate.
EDWIN G. MERRILL,
President New York I.lfe Insurance A
Trust Co
WILLIAM A. LAW,
President. First National Bspli
Philadelphia. Pa.
CADWALADER, WICKERSHAM & TAFT,
Counsel.
Hated, New York, AuniM 4, 1021.
We Daiire to Announce That
MR. WALTER H. AZPELL
Is Now Attociated With Ut in
Our Sales Organization.
Schibener & Co.
f.otnbard lOtt
Opposite Independence Square
512.514 Walnut Stroot Investment Honda
PENNSYLVANIA
RAILROAD 62s 1936
EDWARD L0WBER STOKES
I UaL. .. '" w,w
LMOTrrta,8'cafi
ST oils
C. S. PATTON & CO. 1
3I A CIIKSTNI'T ST8.
HANKERS I
RAIIjKR STEVKNSON .,
fflOTPPgrP H"f.. --- ;
Available August loth or September 1st
Assistant to the President
Successful yovuiR man, collcse educated with brond, constructive
business training, Is available
At present 1b ndvertlslnp nnd snlcs mnnmrer of department tor "HI
Bales of nix millions n year AhsihU Ui tlio mannRlnir, and has shaped
tho storp'i" successful sales pnllrn dunrg the period of depression My
best riff fence Is tho President of the flim I nm now leavlni?
Salary should be from 94600 to GoOO
ii no. i.r.Dor.u orvicr.
l nr'
Chleaito Mil &
StP cv 4'js
. . s
ChlcaKo Mil A
SI P 1 cv f.s
1 rtli
2 TO
tin Iluw's ,'
i s;i,
Chi It I A P fd
2 . (
2 . . . IH
3 . . . no
12 . . ns
.1 . . . . 08' ,
1 N,
Memp 4s
n;4
US
113
11.1
h:i
III!
ti :i
Total deposits I10S.H32 7011 $102,01(0,11(13
federal Keere
nute In actual
rlrculatlon . $217 300 020 $210,340 4s.'i
tVder.il Reer
Hank notes In cir
culation (net lia
bility) . R 201.000 8 MH.OOu
IWerreri axallabll-
lt. Items ou.imj .. iu
,VII other liabilities ::..1 303
."." 223
70(1 017
Total liabilities $tn4 0.13.l7 llul '.'113 S4il
Ratio of total rres to deposit an'f
Federal Ileerve note liabilities combined
Aumist 3. 03H per cent preiiouj week, 04 0
per rent
Itatio of enld reeeieB to Federal Iteere
role in tinutalloti afl.f jeiiin h-nde 3". p. r
cent Huolnsl deposit lahlllt'es, Aeek nf
AuKUst 3 77 0 it ent preluus week
77 0 per rent
Aloe penentaRe ralr-ulalei on baalfl of
net deposit and Fedcial Reserve notes In cir
culation, MKMOKANm'M
ContiiiKeni llatiilny on bills purchased for
furelan enrreeponrienis veek of August ,1,
J4.3IM.inu preiiou
for imnieiliiitf tivodM Little incren-e
Is nntieipnteel ilnrlng the (ninins month
I'ricex rein.'iln lneli unil rillrrtion, fnir
"The leaf tnhiieeo bilxinenv i" re
noited dull There have been n few
inquiries made for good gratlf". of f'nn
liertlcnt. hut the uppl, is light unil
held nt Inch iirice Last jear's iiop
of I'l'im-x iMitun tnbin-eii is sellinc n'
jjood prii eh. but uuully In small lot,
rinriilu nnd liporsui lohaecos nre mih
sellins moderately Siinintra and Ha
vntin are onh in demand for immediate
wnnts.
"The large icnr inanufnetiireis re
port n slight iinproM'meiit in business,
nlthough only n feu of the factories me
working to full enincit."
Federal Reserve Ratios
WiislilnRtou, Mib .. -'Hallos .r mi.,
eerxe le n' dru. is nnd Kedui R.
n te Il.iniiine' ( nmninon ror in iw.mv.
ral II
of AURllst 3
wetk and
Fed
e ittnk'. and th entlr .v.tm a
i.n.m Vssorliilloii n pviai mnnie or tno
htof khfldnrs nf (h. intd aencloflon has hen
rail.d and ll h hld on r-eufemlier 22,
11121. at H o'rlnrk . M hi th- place of
m.nt nir of the nSO' I., t loll 1011 rourrtl
axiie Ph Indeiphln V' nn 1 1 phi1' 10 take)
nrttnn n Ihp arpr'nal -r dl'lpproal o
and 10 .if for :r npvalnil lh prni)e
hrr.n.o rd Th cinlMl Mnru nf th al
ao n'l'in rmni on rrn ion Miliars to nvw
rrll Inn dnl nie ....
1IKHMAN K iiltCI.N srretary.
HX IIf.rt7.Hf:itrj s lleimr
t,-' M.M.I l.l'TKK MII.K tIMPANT
k- J '.pechil Notlte to stockholders
N t' ire is hereby Klen that M' a raola
i . of th- Hoard of I) rerinrs nf the Kelly
lister lllk Compnn . a special meeting of
th Himkholders of in said cnmpanv will
b he d nn f'rlrin) Septeniher 10. I9il. t
2 n'cliirk P. M.. hi th principal oince of
the i iirnpuni' 102 "outh Twelfth street.
Phi ad phln '' take Hft'nn nn the ap
proval nt- diapprna' nf and to vole for or
oa-alnst the proposed lm rease nf th Indebted
n. p of me nald corpnriiilon frnm nothing
to 13." 00O
WH.I.IAM KEM.Y.
Sere(ary.
MAfRIi'K V St.OAN
Solicitor.
we.k $4 ."113 lfill
Kun C & S fin 3
1 . 77 '3 Sn n P-ictti fd
1 77S I 77'4
Kellv Sprlnu dl n Piic cv 4s
TH I'O S - SJ
'.' 07', . SJ
1 s7', S.'
K UelKlullI Oh s In ,, n v .(,
j ni', i :.7',
K Del; m ;'s ii .1714
2 PH ', s ah n P.lv :.s
t 1 101 M s
I Hlt"4 3 hl4
U Belg'm rc'j'S i K Mem I
1 . . 101 I S3'
Chi R I & P 4s 1 VH twlu d t.'nn 8
2 . .72 Kliutdom Uen ri I Ort '
Chlcawo l'nlon mark ct B .' Itirt'i
Sta ct G',s ' 1 ... 102"l .' is 3 108
1 .. ins I . . 102i Third Ae aj
fl , 104 1 ... 102i, 1 3i
2 10S IS . 102 1 . S4
Chile Copi As! 2 ... 102i, n . 34 1,
I . 71 2 . 102V,lThiid Ae 4s
3 .. 71 Kli.dom Nor- 5 32
Chines. Gove't way ct Ss 'Tldenatar Oil
Hu-K Ry Mi I 1 . t03V v.0 ct 0t,s
3 . 40 I 4 1 0.1', 1 '15 S
1 4SI II 103W l'nlon Pan cv
City rierne 8s K Sweden 0s ' h.'.'a
1 00 I 1 . 87 2 si
1 im 1 7 f n on I ac (d
2 111 3 N3 .' iki
1 . U0'4 Lack Steel '.n f n Tjik C 7s
11 00 1 74 ' tr. mi'-a
City Dord x 6s Lake Sbora M i; K of ) Drli
1 83 So'n 4s '31 Alt 1021
C'ty of ("open- 20 S3 S '''
hacen BHs '2 83 1 Is 0 00 t,
8 .. . 784 L. &. Mers ,1s 4 n'l's
1. ... 7b' 3 ss i mi'i
1 . 78iH. & Myers 7lf K of il Urn,
.1 .. 7S4 1 100'. & I d 10J2
City Mars'a 0s l-oii A Nash 4s I tuHi
1 M't ,4 S2 '.' ii 01 '.III
7 . . . 83 llanhat i: d 4s, 6 VV
City Pari, fls , 1 57
1 UO'i Man i: 4s sta
1 UDV 1 S7i,
City Zurich HslMkt St Ry let
4 100 ' 1 704
V K of r, llrli
A 1 d 10J0
.1 soi,
1 S.1'4
101
Today's Range In Liberty Bonds
1 3ll
Hluh I.ew I' .1
Libertv 3-.s SS.ilO s 1)11 ss Itli
I.lliprt' -M'-ls .. S7.0I s.; ir! s7.i4
Libertv Ist4',s . S-. IMI s7H2 S7 lis
l.lhettv -d 4'is . S7.711 7 l0 S" 7i'
Llbert' :t(l 1 , s ll'J (Hi !C (lt WW
Libert 1th I'.s . S7 vs s? s4 h7 M
Vic N.ue :. l,s .. '.is vj lis. (Ml '.IS Ml
Vic Note A" .. '.IS.M lis 7(1 lis. si)
U. S. Certificates and Treasury Notes
IlnMon
Nvv Vork
Phl'diphi.i
l lveland
R chmond
Adiipia
( hlCHHO
.St. I,nuls
MiIiliapoll
Ka! rnt. ' Uv
Dallas
Mir Fi ale itco
Tot a.
ll.'l compared with previous.
ar .ie follow
Au 3 Julv 27. Alls 0
1021. IH21 19."
II 2 77 s
ri.Tldenffs
il'l 2
113 II
I II s
i:. ii
in ii
m
hi
ii
ii , 'i
n 7
n 7
n
S3 0
3'i i
r.3 .-.
tn i
i..' 3
113 I
3H
iii i;
;.t M
41 3
In 0
11 .
I' -,
"I B
tl I
3'. '
r
41 II
Reserve Banks' Discount
I iff miH I redUtoiit l ' '
hih Reserve hank a'
T'-.i
. ir.
,i.
a me t.
a fnllnw
I. n i-.o
I. on.;.
Rates
. F.
m:i: KiiinKii mi tikk ukpokatioit
Nj.v York Ju'v 28, 1021.
The pirctor of the l.ee Rubbi and Tlr
I'mptraiinn bav 'Iiim duv de'ard n quar
tr'. dividend o Hftr cents (80c) a ehars on
M ' no ''I sto. i i 'his f-oniiso pavabl
eiitemlHT 1. 1021. to strckhold a f tcori
at the c'oi if In. nsi Aiibui IS j021
111 NRY H'lfMSS .Ir
cretary.
AUTOMOBILE
INSURANCE
MIIFKTY ll TI I. IN4"! lllVrK CO.
Phone lmt C970 20-22 so ITh .1$.
Int
Rule
fil
A'l
II
;,',
t'R'
t'SV,
t'S'-s
t5
MjI i Its
IM e
.pt
pl
Oi I
i let
FeO
Mm
Mai
Jill e
All.,
Jin.
1'iJl
"ijl
I'i.M
1'i.M
ItiJI
I'UJ
1'iJJ
ll'J:'
10JJ
I0J4
nid
1110
lO'li1.
li'i'r.
inn',
liiii'.
itii'A
11"!,
inn
too A
ion',
lfluV
kd Yiel 1
Inn 3-3.' 4 Si
l'HI .-. ,IJ 4 3i
1""A 4 -..
Hill', I -,i
lllllS
lllii Ii 32
llH',',
liniS.
l"nrr
lmv.
lllll".
1'o-lnn
New Y..i,v '.'.
I hi ad. plra ..'
i lv. ,nil 0
Jlh'hni rid . . '!
.Ulr'i . . 'I
i hic.t . . . ii
M I 'Hll i.
Minn- ipo.iM ..
K.insns i uv !
iMilai . ll II
.al 1 run ISO ."t'a '.'-j
In. "lit iat ''orrespi n l
ra e l " t I" irllfitalH pi
. r ' ti. in nlin'jm of ,". n. r
Par'
il
piUMBNGftHEATIM
fnVM.U.MAYBERRYY!
jti'V 524- Walnut St. J-
IRON BARS
it . If- n I a s to hs
ii c n . urd hi o pi rfeot
4 On I
i ss
I ",
4 HI
U
". Is
.. 41
Exempt from normal federal Incum in
tAcct-pnibl fi pavmnt of Invoine lax
due uii date of maturity.
Raw Sugar Steady at 3'4c
New Vork. A is" R - The raw uirar mar
kt lontlnuve ste.i fv nn the hal of S'.c
oost und frelKht for u'ubas equal to 4 Stir
duty puld The Cuban unar Flnanc I'om
mlttee islerdv ild ti. local reflnera HI Onn
bags Cuban fci prompt shipment on ih
above basis sa -s of itncontrolld auvai't
Included 18 Onn i .'Pa vf Porto R'cos fui
prompt shipment ai 4 ''h and son tons San
Domlncos from stnrn at 4 80c dutj pld
local refliiTs l. n the pun-nasure lm
portutlons lm lui'ed 20 mio bars ( uhae lu the
Nntlonil Sunr Hetltlinir I o 14 OOH Ii.sks to
the Warner S ixr Rertninu Co and fiOnn
bags to the Mil" in -utar Rtlnln, v.o
pait from it' ndvr.r. e in the iirlt of
refined sonar bv in Inral nusar RonnUu
Co. todnv the i... a market la uncl.iir.veil
The American National an.f th Warner
Cos nre quotlnc '.IV ! - Per cent In
vaah, while Aruueki Urns ur vvuhitravvn
LOCAL MINING STOCKS
lONUl AH l'ICls
in04 Ilex Potr'm 8s'f K of H llrli
100'ii 1 . 08 I d 1037
I
I
' S Me
1
I HEWBURGER,
&
Members New York and
Philadelphia Stock Exchanges
1410 Chestnut St.
Foreign Exchange Explained
Ash for Free Booklet F-2
Wm.H,McKenna&Co.
221 South 15th St., Phila., Pa.
rtell r hone I Locuit 1718
New Yprk PiUrom
U. S. of Brazil 4s, 4 12,3, 5s
Buenos Aires So & 6s
Argentine Govt. 4s & 5s
Sno Pnulo 5s, 1905-07
French Government 4s & 5s
Land Title Dldg., Phil, Pa.
Members Philadelphia Stock Exchange
Lee, Higginson & Co.
Established 18tg
DOBTON NEW YORK CIIICAOO
1306 Finance Dldgs, Philadelphia
7s
Cl'd Cln Chi Mich S Tela rs :
St Louis Hs 1 K'l. 2
1 0OS Mid S Si Or "h l
Colo & So'n 4s i 7 . . 70S I
1 ... 84 1 70'. 3
Colo & S 4'5s Mln Hi P 4 8 t H
1 70 4 Sie M 4s r.
10 . 70S 3 SO', 2
10 . 70S 2 SO", 2
1 7rt" Mo K 4 T 2nd
Cons' d (las 7s 4 30'i
1 102T Jlo K A T 4j
Cuban C S cv 1 01 I
0 . . 0Vt 1 . lUS
1. . ns'i II" Paclllc 4 s I
1 .. 00 1 M'41
Cum T 1 T 3 1 A4 v I
"J.. . SO 12 04',
Dal & Hud cv' ft . 54 '4 2
2. . . 1S' 1 . ,14 Va-C
Del A Hud fd.M It O Ht I. 4 1
1 hO Carlo 4s , 8
Denmark Con1 1 7S
ct 4. 8s iNtl Tube C Ss
1 " . 102H1 1 02',
3 . 102 iNew Orleans 4
2 102 N K'n 4 'us
Den 4 It () 4. 1 . 72
2 , . HO'-, ,N V Cntl HHs
1 . 00 1, 2 07 V
.1
Det Kdl us '33
1 87 V IN
Det Edl as '40
2 . 78W
Do Canada '20
20 . 03
1 .. 01
I 03
Do Canada '31
llrir ss
0'l'
100
lllll
100
too
mo
As
44',
Rubb r 7s
U9
it Mel ,1a
111
114
Ch ;i,i
01
01
West n Md 4s
4 .1.1 4
1 51 1,
1 M't
Wn Padfle 1st
7 SO
1 80
W 4 i: MfK 7s
1 ash r. . . . .
.Inn Duller
MacNaniHra
Ciesceni
Midway
Mlzpnh KxteiiM.m
Montana
North Star
Huscua Uu'a
rmiopah Uxiei.Hion
West Und
West Tnnopah
DlVlin.
li.d l vide
Attn I vide
I clclu 1
Hoi
ill
07
1.1
ns
11
'IS
11.1
0.4
10
l.s
-WANTED:
An Honest Man With Brains
iiii nn hi ht,ni t nifi - 1 '
t ' I ,iM iiI'Ip stHlHHUlrfll 11 , II I
i t w tt nf to 1 p . . I
-.f.x I,. 1 im fnr i. p i i r .
y m tiiiiijj n rormnnii -t , )4 ( t .!
t el 4 'H K ll MKKrl H' 1 IlL,r 1
n 1 r.i ftin-lt ir-.i7fn to ia - 1
In h'i ' ! ra mit pikliiK nmn pc i? '
te ni' r iltnts in h Stntf th' in i tn -iiHdr'x
(' pfr i"nt of h- f 'Unl-t tiTf " I
n (- r in t nnr of K',i'n arn'it
1 -1 (jo lis tii inn n-nr popu'im lun t
0 (er 'ni vt rh fooJmffji uni.u,'"l
rHi h- u wn ihout cominfri'lal .'
Mlizer w.thtn Kn T-. L'rto mill t nf h
polnti "f hMinipTioTi. The fin sir f
pioluf r t' ihtpptd h hn,i1 fix w , -fi
t h ea, niihout ualnc a rtlri)n!
.'onn-.trn 1 p iMn' fshitots IsniMjno m
ll.it iMm tniMiiMHi Kttilrir h pnp -N
u l -i, fn u- 1. if.n'is k'o oi loii.tv u
inurr itm! -t Itjstn pu.irx is
riSiiM THK Kll.; I'" In Ufi: io
I'MIT. ''" ' nmr 'MM hi fltian
DONNELLY & COMPANY
Ollkc, 317 Mrtf Street
1117 1 me si
tirellmlses
iii Wisjd st 3Hlv-iii llrnun Ht.
this 1
fritir l
of Slim 1
r. ii., 1'
for au ho
.ti d.ilv
..ir. u
-t mln
po-
1
II
Mi'
'h iniuh
hoi t-si n
Ii
ofli
r i' I
inv f y 1
VH 1 f s
P 1
John T. Dyer Quarry C,
nrir rnMIhed 1R0I
BIRDSBORO
TRAPPE ROCK
i Harrison Bldg.. Philadelphia. Pa,
Estftt niied 102 Both rbonaa
I William R. Chapman St Son
I 1506-08 WaBiiinfjton Ave.
MASON BUILDERS
v -111 WNEI18
1 Tim imiii ir.i.i'in imirii coiiPA?rt
I riinetv of 30.000 (MIO per annum
1 Kerbaugh Lime Company
1 Hullders' supidles
rroraisals
U. S. ARMY SURPLUS
sTOi U
,.V,
on
8 67 '4 103
Y Csn 4ts I . mm
1 70 I 1 101 .
N T Cent'l Oslwicks's Spncr
1 (s A) 80
1 .0.1 Steel Co T
1 OS 4 OOt;
I. .08 lVllson Co 1st
N T Tola 411 1 fiOti
1 82 s. fl (U,
R2U
SOV
iielchar I'.xle
Hen llui
liiouuh Divide
Dhldu Kxlvnalnn
Divide Con
Dividend
Hum Divide
llarmlll
llasbrourU I) vide
11 Kh Divlda
Knox
tteveit U vide
lUno D vide
Hooitn
Mlei Kln
Miiherland
Tonupali Dlv He
'lonupah Ho.l'iiiiiift
vitinrv uiviiit
Verde Divide
'.one
noi.lil'IKI.D
Dunth
ConiLlnatlun Franion
CratLerJaik
Dlumondnolil 11 H
Klorence
(loldtleld 1'iin
Oold Daveli pmrnt
Coldllcld D't'P
U11 at Itvnd
Juinbo rxtonsli 11
Kevvauas
Lone Star
Oro ....
Ked 11 Ms
8llver I clt
Hpearhead
ni
.a J
mt
U
ni
1 1.1
aj
II
11.:
ni
11
".'
nl
iij
ni
"Pi
7H
"J
01
IM
III
MOCKS
0;
03
.111
11
no
ni
nl
ill v.,
12
02
MISCEI.I.ANKOl'S
t Id
Trade Quiet on Paris Bourse
I'urls, Au. 6.. Trading was ouiet on the
Hours today. Threo per cent rent, 86f
40e exohsp en London, tot, oi fvo
pr. nt. '.".'."'..Wl sic. Th dollar was
quoted at ISf 02V4o.
Ampaio
Arirona unnen
Crfltdonii
Kden
V'mma .Silver
Kurks Croesus
I'TureUa Hniv
Heclu
Moiner liilf
Nevada lllli
Nov ad wonoor ..
Huccess
Tecopa Mlnlnc
Whlta Caps .
WUtart ...... ....4.
07
IIS
I"
(12
10
lilt.
4 (Hi's
(i on
"I
Is
02
.07
.01
.01
ml
IJ
Id
in
..'1
1,
7.1
til
o.t
H
.nl
1, i,
.lis
'(H
II
11,1
0 1
13
IM
112
11
11.I
."
IM
1
.IM
I) J
114
.12
II,
mi',
0.1
."lij
4.1
OS
112
ti2
1 M
11.1
il.l
IM
nil'4
ll.'V,
14
0,1
1 .111
HO
12
2n
03
..11
"IS
4 HIS,
1 1 ll'.
II.'
v .
,08
.11
00
-.03
moo.ooo iiiKnroi.i m nsiiip skukk i
IHIls
Ituls will 1 rr-ivii un'i' 12 . t u noon
Eisiern standnid 'im 11eust 8, 0',
the Comm'sHton. rs if II iv irl r ivri.hip
for JJOII Oon Krviei bonjs TI . bun Is vv'H
bear Int resi at ilw t lie of : 4 j.r Mrnum
panbl" s, 111 -iii-nii 1 lv vn , 1 ivj , ik-ui
1 1021 .'id will mature u,j 1 HH
both p,-iP'l"iI aii I int rt' lin.- ti hj, hi
("ommercUl Trui ' 1 I'm s. pi 1 I'i
The bonds vvlll he in coupon f i-m 1 ..-.gtur
ali.e as 10 .vrlnclPHl on y Krre f P. mis t
vanlt Stale 1 i Tn bonds iriav u. re
deemd mi the not on of in.. T aiisMp .is
whole or In part in multiples o' fin miki
drawn nv lot on Kjtrui'v 1 cf ,(rv vv4r
btfinnlna Kebruarv 1 10.3 nt r-.i and
acpru-d iniereai upon ibln dav in ,rieo
notlca
Tho rifiht Is r"erv.d to rnjLt an am all
bids
The bondn wn' he subject to tiu iipro-oial
r, to legalltv nf MHrt Townsen K ,o(t
and Munsou. whose opinion will Li tjin shui
to 'he purrhasir
Hide anould lo addies.Hl 10 the unl-i
stKiveil sealed and marked Ilia f r Uavi
ford Township Siw.r Honds
Kor furtner informaib n also ,nv to (00
undersigned
11 A PEITSi'HM .-
Ifi I Im r
MHrlnrn invui'jn p
Floating Equipment
to bf sold by the;
CnmnitselonerN
mlnUtratlon Mul'dina
I'l'H mi V- Ph it
' ikmo
' h i
I'I P' r
ski r.i I'luii'n-s i.s Mm. in; in-.
reived bv ibe und. i h'um.' I th.- 1 'or 1 ,.
of Schuviklll C.iumi ai Ins oiti , hi p is
vil" Pa until In 11 1-1. . Mundiiv,
Alicllht 15. 1021 f 1 the . ms iu 'ion of a
trollev iracl. ooiiipleU' ubovo ub s-ra 1
commenc nn at Dark WaM an I mieri'lini;
norihwardb abnu' 3.I1111 f.'ei u . unnn mm
wllh the HchUllil!l Klectrii Itallw 11
HliU must Ii- made upon iioimaai blanks
attached to specifications and a . 'iiipanieil
bv i-iu0ed 1 lie. k in Sum equal lo 1 i.. , ,,rn
of the n 1 maiie pnvai.ii to me uniliTslne
Plans ant epeufli at I. n muv In n-n at ih
ufflr.. of lh' Coiiim 1 11111 11 r an I .an
be hs I In irii-kint! deposit of Jill 11. 1 vv,i
dfimslt will be reiurnisl when pun. un,
peclrli ailons are returned In nood enniin
The rlnhi la leservad to rrje, 1 uio 01 nil
bins
QUARTERMASTER
GENERAL
11 Derrick Lighters
3 Deck Scows
4 Covered Barges
10 Coal Hoists
3 Marine Engines
and
Launch "Lt. S. W. Hoover"
Tug A. T. S. "Columbia"
Tug A. T. S. No. 9
Tug A. T. S. "Reliable"
All located at ARMY SUPPLY
BASE, PORT NEWARK, N. J.
Ily direction of tht, ('ounti i"nnim'ion"i a
JOHN K Si Hl.oTTMAN
Potlsvllle
r
1 ountv ControliMr
Aukusi 8 1021
TBIUM HI lir.I'MtTMKNT. MTCKVIt.
InB Ar-hltcct'B OfOce IVnshlntjinn D (
Auvusi I I'I21 He-vled piopoml, win t,s
opned in this "fn. e at i p August n
1021, for the ennttrui lion or mezxinine
floors eie n n I nnd S m ponmrnis
nnd ( our'h 11 1 1 Philadelphia p( Druvv
Inas anl speriOcations mav be obtained front
the custodian at Philadelphia, Pa or ai
this office. In th discretion of the supsrvls
Ins; architect Jss, A, Wtmor Actlnr
3uprvtslnf ArchtWct.
Si'alftJ Pi'iipo.salK f 01 ntiy or
all "f tin- listed items, to be
rccciM'il until
AUGUST 16, 1921 (1 P.M.)
Wrttt; for "IVnfer Transportam
iion Scaled Proposal No. J,"
and forward all bids to
SURPLUS PROPERTY
CONTROL OFFICER i
ARMY SUPPLY BASE 1
BROOKLYN, N. Y.
f U. S. ARMY SURPLUS
J-w
M
n
49
y
f,
i -
1!
v
I i
I
M
V5. -
1
If-a
'0
-fe fc