It 5 i W, Vt ''",'?&', -ft "'IS-'' V' '" . -"" ' "' EVENING PUBfcld ED&PfiinMfcfcPHIA! WE'DNEaPAY, 'ATJGTJST 10. ,1921 .UK H'-7 rM NEW YORK BOND SALE& I h'"'"'; '- - r IT"" ' It ' $13,306,000 City and County of San Francisco, California Gold 4 Water Bonds r, Dated July 1, 1910 Due July 1. 1945-1964, Inclusive Principal and semi-annual interest (January 1 and July 1), payable in gold in San Francisco or at the National Park Bank of New York. Coupon bonds of $1,000 denominations rcgistcrable as to principal or both principal and interest. Exempt from all Federal Income Taxes and tax exempt in California Legal investment for savings banks and trustees in N. Y., Massachusetts Connecticut', California and other States Eligible as security for Postal Savings Deposits The City of San Francisco, with a pbpulation, according to the census of 1920, of 506,676, is the twelfth largest city in the United States. The assessed valuation of taxable property is officially reported as $864,881,977, including $258,705,387 operative property which, htas not been taxed by the city since November 3, 1910, except for the payment of that portion of the City debt incurred prior to that date. The net bonded debt is $33,079,600 or'less than 4 of the assessed valuation. These bonds are a direct obligation of the City and County of San Francisco, both principal and interest being payable from taxes levied against all the taxable property therein. MATURITIES AND PRICES (Accrued interest to be added) Amount $236,000 558,000 558,000 558,000 558,000 558,000 603,000 768,000 768,000 769,000 Due July 1, 1945 July 1, 1946 July 1, 1947 July 1, 1948 July 1, 1949 July 1, 1950 July 1, 1951 July 1, 1952 July 1, 1953 July 1, 1954 Price Amount Due Price 88.00 $769,000 July 1, 1955 86.07 87.76 769,000 July 1, 1956 85.93 87.53 769,000 July 1, 1957 85.80 87.31 769,000 July 1, 1958 85.67 87.11 769,000 July 1, 1959 85.55 86.91 769,000 July 1, 1960 85.43 86.73 769,000 July 1, 1961 85.32 86.55 769,000 July 1, 1962 85.22 86.38 661,000 July 1, 1963 85.12 86.22 559,000 July 1, 1964 85.03 Yielding About 5.40 Per Cent Legality subject to approval of John C. Thomson, New York, N. Y. FIRST NATIONAL BANK, N" Y" KISSEL, KINNICUTT & CO. THE NATIONAL CITY CO. E. H. ROLLINS & SONS The above Information Is derived from aources which wo rcjard as reliable. Wo do not guarantee but believe It to bo correot. 08J 08 4 no 00 09 00 0814 American Tobacco Company merits the attention of investors because of its consistent record as a dividend payer. The securities of this company are discussed in our circular P.L.-433, in which we also give a brief description of THE MENGEL COMPANY We mall copies freo on request AlIERLSCHMIDTkOo. MtrntbirJ- ebhrtUdaied Stock Exchange ofttevYotk. PHILADELPHIA. iya Walnut 8tret PtionMtBenjValnut4660t Kyrton9.Rac4080 NEWYOBKJ30 Broad Strerti319nfth Avenue. What's Ahead for "Motors"? Win we see further price cuts? Are we approaching the saturation point? How about trucks and tractors? Babson's Reports Barometer Utter, just off the press give you the plain unbiased facta on the situation and ehowa you what's ahead for the "motors". IlEPORT ON REQUEST Copies are available for distribution to interested execn. tlvea, gratis. Tear out the Memo now-and hand it to your Secretary when you dictate the morning a mall. Aim! Ad foe BoU.ftVi 34DK Roger W. Babson's Statistical Organization Wellmley Hills. 81, Mass. (Suburb of Boeton) tXt Lmymt OrtanUatia eAuftMW Adfimrt i WtrU p i CLIP OFF HERE- -l ! MEMO for Your Secretary , ' Write Roger W. Baboon, founder of The Dabson Statujtieal I Organization. Wellesley Hills. fliMaas., as fo lows: Please send me a copy of Bulletin MUKtnd booklet, Incrtattns JNti PreAli" Rratls. . mm J f"5 tott just how 2J dtfiartmtnts of your Wm4. tear out th$ iSfr''tarywkm you -m mvmingsmau. Utilities and Industrials Examinations for Managers and Bunkers Reports covering operating costs, fares and prices, markets, valuation and economies in man power and methods. .fort), iBacon & am Established 1894 New York Philadelphia ' San Francisco New Issue Exempt from Federal Income and Excess Profit Taxes Free of Pennsylvania . Personal Property Tax Legal Investment for Trust Funds in Penna. $200,000 UPPER DARBY TOWNSHIP Delaware County, Pa. SCHOOL DISTRICT Thirty Year 5 Bonds Duo September 1..1951 1 at the Dated September 1, 1921 Interest payable March and. September Lansdowno National Bank. Coupon Bond3 in $1000 denomination, tho principal of which may be registered. THESE BONDS ARE NOT REDEEMABLE PRIOR TO MATURITY Tho legality of this issue to bo approved by Messrs. Townsend, Elliott & Munson, Philadelphia. Descriptive circular upon request. Price, 104 and Interest Yielding About 5.20 Graham. Parsons & Co. 43S Chestnut Street Philadelphia WHAT STOCKS TO BUY There are certain reasons why three particular stocks should sell higher now. Send for special let ter S 1, which tells all about them. EDWIN E. KOHN & CO. Mimbtri Consolidated Slock Exchange of New York 1522 WALNUT STREET PHILADELPHIA NEW YORK PITTSBURGH TRENTON WILMINGTON EASTON POTT3VILLE GE0.A.HUHN & SONS STOCKS AND IIONIIN Mrmbera of th rhlludelimlu, New ork mid CIiIciiio Mock ICxcliniigrs Nnv Ynrk Ciiltnn I rliiiiii Commlaalon Orders Executed In All the Principal Market Liberty Oondt Bouqht and Sold llelleyuo Court Hide, 1418 Walnut St. AmbMindor Uotel NEWBURGER, HENDERSON & LOEB Members New York and Philadelphia Stock Exchanatt l4lOChMtnutlt. Am Asr A Ch 7We rets 1 08W 18 OOVi 1.,... SOU A 8 n'K SI 1 TO (I 78K 1 88 H A.mn T ft T clt 1 BU'.i 1..... SO Amn T & T On 1 85 H 8 SO 1 83 1 83 'I IB 8SH S 8BS Amn TJTOi 0.... 100 1.... 100 Arc' Ilep'o 5a . 1 09H Armour 4W 1 80S A T A S F aj 1 70i 1 72 A T ft S F 4a 4i.... 77vi ft 77U 1 77tt B 77H 1 77H 1 77H A Transcontt'l Short I 4 a 1 78 Atlantlo nf'g ct OHb 1 101 Alias Twdr Co wl 7W R flO'i Halt ft Ohio cv 1 70S 1 70H 1 70H 1 70'i a 70 B 70 Salt ftphlo 4a 1 08H 18 60i 7 oo; Bait ft Ohio Ba 3 71 1 71 1 72 Bait ft Ohio fli 1 nou 1 nou 2 00U Bft O awn 8H 1 82V Dell Telephone of Pa 7a 1 105 Beth Stool M 2 87 1 80 Bkn Ed I C 7a 1 0154 Brkyn n T 7b 4 04 '4 Bkn It T ct 7a 2 B2V4 10 S3 Canad'n Nth'n 0',4a rets 08 Cm 4. 4. 13. .1. 1. 1. Canadian N 7s 1.... 102?; 1.... 103 1.... 102 1.... 102S 2.... 1024 8.... 1021J 1.... 101! M. Cen'l of Da rn 8 84 U 1 844 8 84V, 1 84U Cen'l of Oa G 1 80 Ctl Pacific 1st BO 78H 1 73H Cerro de Pasco Copper 8a 1.... 107 C ft O cv 4Hs 1 77 Chi ft Alton 3a 1 45U Chi ft Alt .Ti 1 .... 354 Chi B ft Q Km 7 78 4 1 70 Chi H & Q neb S 00 C B ft Q O'is 1.... 100 4.... 100 2.... 100 B.... 10O?i B.... 100 0 100 Chi ft O W 4s 1 Bltt 2 82 3 S2 Chi Mil ft PBt Sound 4a 1 .... 00 ChlcaBO Mil ft StP cv 4s 1 fli 1. . . C0 C & Nwn d '33 2 00 C ft Nwn OVia 0.... 100 8.... 100 Chi ft Nwn 7a 2.... 1024 C R I ft P fd 8 00H Chi R I ft P 4s 8 71 8 71 Chlcaco Union Stu. ct 04s 1.... 103 City of Bomon 8a rets 1 00W City Berne 8s 1 08 Chile Cop'r Oa 2 .... 70. Chllo Cop'r "a IB .... 034 1 03t Chlneco Gove't IIu-K By 6s 6 48 Cln Sandusky ft Clevo Bs 1 00 Cty Chrls'a 8a 1 004 City of Copen hasen &4 2 78U 13 78 1 78 City l'arla fla 1.... 00.15 City Toklo Bs 0 02 3 02 1 .... 0.' 2 02 City Slurlch 8s 1.... 1001. 1.... mo 1 00 1.... 100 2.... 100 B &0 C Tab ft n 0s 2 80 Colo ft S 44a 1 70U Cona'd Una 7a D ... 1014 Cuban A B 8s 1 . .. 004 B .... 1)0 4 Cuban C 8 cv 1.. .. 05 2. ... 04 1 04 1 04 D ft it a 4 . 1 .... 00 Bet ft Hud cv 1 834 1 85 Denmark Con ct A 8s 1.... 101 U 1.... 1014 8 ... 100 Denmark Con ct B 8s 1.... 101 2 ... 101 1 . . 10t, 1 ..101 1 101 Den ft It (1 fd H . tilt, 2 . . 40 Den t H O Ba 1.. .. 70 Dot Va Co Oa 1 884 1 884 l... 68VA t8ALKS IN 11000 Det U It 4 4a 1 88 Do Canada '20 2 034 11 03 1 03H Dom Ilep'o Bs 1 70 1 70 D De Nemours Pwd'r 74 2 00 1 07 11081.. 00 1 00 1 07 2 00 Due Light 0a B 054 Brie Qenl T.len 2 434 Erie n n cv B 1 88 Erlo Itr Co 4a R BS 1 BBS T. ft Jersey 0 7 774 2 774 Ooodyear Tire ft Ilub'r 8s 1.... 101 1.... 101 1.... 101 1 ... 102 Oovo't Trench It 7 4 rcta 14. 4.. B.. n 1!! B.. 1.. 1.. 1.. 1.. 21.. 05 054 03 05 "4 054 054 034 00 ',1 00 V. 05 4 054 0-.4 05 4 05 H 05 4 BB4 054 0B4 OS'S 05 h 054 054 05 4 05 4 054 054 05 4 084 Oove't T Tl 8s B 804 B 804 Mo K A T 2nd 7 804 Mo K ft T 4s- 1 014 B 01 Mo Paolflo 4s 1 B4 Mor'a A C 44 1 7B Nil Tube C Bs A 04 2 04 New Or Tex ft Mexico Bs , .2 B04 1 B0 1 B9 4 88 N Y Cen 44s 4 784 N TXent'l 0s fl 024 B 024 1 024 N T Cent' I M Cent'! 34s 1 02?! N TU Lack ft Weat'n 4 s 3 OB New Y N 1! ft Hart'd Oa 1 CO 1 00 8 00 Nla P Pwr 0 1 884 Nfk ft W'n 4 s 3 78i N'k ft W cv 0a 1.... 1031. North Wo B Tele'n 7 1.. 3.. 1.. 1.. 1.. 3.. 1. 2. 0. 0. 4. 11. 0. Tidewater Oil 1..... 87 V 8 Bub 74s Co ct 04s U 87 4.... 101 Vi 1 05 1 87 VJ'd S Steel Bs U B ft P 74s 4 87 1, 044 8 00 1 874 1 04 Onion Pao cv 2 874 2 94(' 4 83 2 87 3 044 4 85 22 87 Va- O Ch 74s 2 88 22 874 1 014 Union Pac fd Ut'ed Il'd Han Va Ilwys 5a 2 77 V unct 4 1 88'4- U KofO Brit 3 28 Wea'n Kteo Ba ft I'd 1021 U S Brazil fia 1 074 IB 80 1 004 4 074 U K of O Brit 1 00 Weat'n Md 4s ft I'd 1022 2 00 2 B44 7 00 1.... 1004 2 64 4 1 1111 1 09 1 B44 6 00 1.... 100 Wn PaclOc 1st 24 00 1.... KID 8 80 1 08 1 00 1 70 1 00 1 00 W ft U Slff 7s UK of O Brit 1 00 1.... 101i ft I'd 1020 1.... 10O 1.... 101 7 88 1.... 100 8.... 101 1 80 U S B ft I Ba 1.... 101 1 88 1 874 1.... 1U14 1 80 2 874 2.... 1014 8 88 2 87 Wllaon Co 1st E 88 4 ,87 1 80 U K of O Brit U 3 Bubb'r Ba 4 80 ft I'd 1037 1 704 1 80. 0 87 l Liberty 89 .... SN.ns Liberty 2d 4 ... 87.(1'.! Liberty 1st 4Mb.. 87.W) Liberty 2d 4V4h. . 87.74 Liberty Jlrf 4VtH.. IM.Mi Liberty 4th 4 "As.. 87.88 ic xsotcs ;5h... iis.fiO Vic Notes 4918. 08. W Low SS.42 87.02 S7.7S 87.70 01 .SO 87.82 lls.t"(l i)8.." 1-30 P. M. 88X.0 87.(12 .87.1)0 87.7 1 M.Rl 87.80 !S.."0 03.02 1... 1... 1... 2. 1... 1... 1... 1.. 10214 1024 102 4 102 1024 102 1024 102h 1.. ?!! 3.. 1.. 1.. 1.. o.. IB.. 15.. Gd Trunk rcta 2.... 102 2 ... 1024 fl ... 102 O Nth Rwy 7 100 100 100 . 00 . 00 . 00 . 00 . 00 100 100 . 00 , 00 004 1. 1... 1... 1... 1... 1... 4... 4... 1... 1... 1... 11. loo', 104 100 100V. 100 100 100 100 100 100 100 100 N Pacific B 8a 1 80 1 804 N Pacltlo n 4a 1 70'i 2 70 2 70 Nla V Pwr Bs 1 7014 1 80 Ors ft Calf Bs 1 01 1 01 Oregon S L 0a 1 004 Org-W'n It Co Navl Co 4a 25 714 8 71 Pao O ft 13 Bs 4 78 1 78 1 78 0 78 1 784 Packard Motor Car Co 8s 2 05 1 05 i....: 05 Pan A Pctr'm ft Tr Co 7s 2 01 Pa It gm 4 4s 1 80 1 804 Penna ltd 04s GOSSIP OF THE STREET What would you say is good brokerage service? Quick and accurate execution of orders f Up-to-the-minute Quotations Prompt acknowledging of orders and remittances and mailing of notices of execution 1 Prompt delivery of cash or securities "Accurate monthly statements of ac count Late market hcavs and casy-to-read stock reports and a 12-page weekly market publication. Wc fire prepnred to give un excelled service In handling your market transactions In New York Curb Market stocks. CALL, PHONE or WRITE. PHILADELPHIA OFFICE WIDENEIl BUILDING Telephones: Bell, Locust 4730 Keystone, ltaco BBfil BALTIMORE OFFICE 433 EQUITABLE BUILDING Telcphoi.e: St. Paul 84D1 Direct Private Wires New York Chicago Boston Philadelphia PlttsburRh Detroit Baltimore Cleveland Jones &. Baker Members !few York Curb Market 8. B.. 2.. 1.. Ilackenaack Wat 4s 1 08 Hud ft Man fd 1 074 B 07 1 .... 074 Hud ft Man In 2 41 1 414 0 414 11 41 1 41'4 111 Cenl 4s 'B2 2 73 111 Cen'l 4s 'S3 1 704 111 Cent'l 04s 3.... 101 2 101 lll.i Steel 4 4s 1 82 ntboro It T fd B .... 30 7 no 1 50 n no 1 80 I M Marine 0 1 70 1 (s30) 70 1 70 Iowa Cent'J 4s .... 40 Jap Oove't 1st 1 (sO) 854 Jap Oove't 2nd 1 854 Jap Ooven't 4a .. . 71. .... 71' .. . 71' . . . 71 Kan C Mcmp Brldgo Bs 1 81 Kan C ft s 3s 0 B0 Kan C ft S 5s B 704 2 704 IColly Sprlnif d Tiro Co 8s 1 004 1 00 B 004 1 004 IC Belzlum 0a 1 04 2 04 1 04 2 03 K BelK'm 74a 1.... 1011, .1.... 1014 4.... 1014 ti.... iut 2.... 101 1.... 101 yi.... 101 1C Bcls'm rcta 1.... 10O 2 ... 100 7.... 100 7 100 1.... 10014 1 ... 100 Klinrdom Den mark ct 8a 00 00 H 00 00 00 00 't MM. 004 00 Penna It It 7 a 1.... 103 Pera Marqt 4a 074 Pere Marqt Bs 824 Pitt Chi Cln ft St L. A Bs 3 B3t Hoiullnc Co 4 s 2 784 Rep Chile rets 1.. 3..' I:: 1. 102 101 101 103 10J . 1014 1014 1014 101 101 1014 K'm Italy 114 3 804 ICInvdom Nor way ct 8a 8.... 103 1.... 103 1.... 1034 K Sweden its 1 804 0 SO 8 80 1 80 1 . . . . 80 Lack steel '50 1... . 74 Lake Bhora Al Su'n 4s '31 1... . S3 B ... 83 Lehigh Va! 4s 2.. .. (10 4 L lal It Bs '87 1 01 Lou ft Ark Ba 1 084 Louis ft Nash Mono 4i 1 084 I.ou ft NaBh 7s 1.... 104 Marland Oil 8a 1 01 Mex Per'm 8a 0 .... 08 1 08 4... . OX 1 . . 07 1 ... 07 Mid S ft Or Ba. 2 70 2.. .. 70 Mln 8t P ft 8 Bta M 4s 5..... 804 08 08 004 084 084 08 084 00 004 Bock Il'd A ft Loul'a 44s 2 074 1 07 St L I'n Mt ft S'n Illy Bs 1 884 St L ft S V al 5 07 40 08 St L ft S T In S 07, 3 .... 87 2 . . B7 4 13 ... 574 (I . 574 31) . . 57 1 ..57 20 574 2 . 574 St L ft 3 l'rmi Serlca A 3 0J 5 02 15 01 St L ft S Kran Series B 1 71 1 74 St L Bow'n en 1 054 2 05 B .... 05 St L Sw'n lat 1 004 St L Snw'n 5a 1.... 07 tao Pauln of Brazil ct 8a 1.. .US 5 . . OS 4 2 . P 1. . 08 Saxon Motor C Corp'n clt Bm 1 . .. 80 Seab'd A I. aJ 1 2S Seab'd A ' Hu B 404 7 40 2 . . 4S4 1 . . 44 2J . 40 1 404 1 ... 404 Slnclulr C Oil Corp n 74 2 01 1 !H"( 2.. .. M tij . 01 . 01 . III'. . 01 4 AluUl 03 S3 1 1 . . 1. .. 0 . 3.... i ft N Bu of 1.... So'n PaclOc fd 1 70 So'n Paclllc 4a n - . 1 1 73 6.. .. 73 So'n Pao cv 4 4 81 0 Sl 1 . si Si So n Pacific 5s 1 014 B . 11 South n Illy 4a 5 . 'ST 4 15 .. . 57 4 1.. . : 4 57 1 . .. 57 South'n Rly B 1 84 5 84 Stand'd Oil o( Calif 7a B. ... 102 1.... 103 B.... 102 B.... 103 2 103 Swlu'd Con 8s 1 ... 100 2 .. 10(1 Tex ft Pac lat 4 78 4 Third Ae 11J 1 . 33 1. . 32 1 .32 7 .. 32 Third Avs 4s 1 01 Two big evcntB nro on tho schedule today for consideration of tho market contingent. One, tho monthly unfilled tonnago statement of the United States Steel Corporation. The' other, the meet ing of tho directors of the American Sugar Refining Company for action on tho dividend on tho common stock. There is likelihood of a surpriso in both instances. It has been variously estimated that tho former named cor poration will show a reduction between 300,000 to '100,000 tons In the unfilled orders. A great many believe the Sugar directors will find It ncecsoary to sus pend dividends because of tie contln und chaotic condition of the sugar trndc. Recent reduced prices by the United States Steel Corporation are reported to have brought in quite a good deal of new business. If these reports nrc re liable, there Is a likelihood that the shrinkage In the unfilled tonnage for the month may prove much smaller than anticipated. In that case there is a possibility of those pledged to the con structive side making considerable capi tal out of the event and employing It as a slogan of returning activity in the steel industry. , Nobody can tell whnt the sugar divl- !nnrl wilt ho etfnnt tho ilirpptors. Story had it yesterday that even the board hod not yet made up its mind nor would it do so until figures were before it at the meeting. Real Troublo Is Over "A good many people aro taking a pessimistic view of the situation that In individual cases is absolutely un warranted," said an official of one of tho largo downtown banks yesterday. "Quito a few come into this bank al most every dav with what has become almost a stercotypcu interrogation, , 'What bad news have vou today V The reply they get is w'linvo no trouble! here nor do we expect any. "As a matter of fact, It is the con sensus of most of our u"-ocintPS that tho real crisis of our troubles was safely passed six months ago. We aro, more convinced of this today than ever. Everything is coining back slowly in some lines faster than others. Of course, nftPC the tumult of the last two , years there are many readjustments, still to be completed. Thcso nro only J minor incidents to tho general program. Much of this has neen due to Inability 1 or the lack of courage to accept in- j cvitab'o losses. "Quite a few are still in that boat, 1 and the sooner they make up their minds to tako the dose, unpleasant as it may seem, that much quicker tlie.v will bo cured of their present. ills." B. and O. Coat Fields Officials of the liultimore and Ohio Railroad's commercial development de partment, of which II. O. Hartzcll is manager, have just completed an analysis showing thcro aro more than 1000 coal mines on Its lines in forty-four counties in Boven of the States through which It 1 operates and forty seams 01 coal an minablo with a coal reserve of 25,000, 000,000 tons. In West Virginia alone, which ronks third in the coal output of tho country, 18.000.000.000 tons of coal I nro nvallablo for bteum and technical , use, in mines adjacent to the company's t right of way. Tliis and other data compiled con- ' renting the mines and grades of coal in liultimore and Ohio territory are dealt with in the nnulysis which has been is sued in pamphlet form under tho title. ' "Coals and Their Relation to Economic, Industrial Locations." Three other I pamphlets have been prepared for dis tribution, one dwelling on "Salt and Its Ry-Products," which describe loca tions of salt mimv and chemical uses of ' salt: another, "Lime, Limestone Flux," serving as n guide to maniitacturcrs who 1 use limestone in quantity, and the third. "Sands Molding and Class," points out whore these materials are found in abundance. WestlnglH)tiso Bookings Shipments of Wostutghoue Electric unci Manufacturing Company nro now' tunning at 11 rate of slightly less than .10.000.000 a month. In April and Muv total billings wore well over $20,- 000.000. In Juno and .Tulv tliej amounted to npproximnteh $20.000QOO They nro now just 11 trlllo under trhit rate. Bookings nre said to be coining in nt a into about half that of last year. Tho company docs not renort bookings, but from billings ntrl unfilled orders It can be estlmntcd that booking lat year amounted to about $H.". 000.000. It appears, therefore, that bookings, are now running between $11,000,000 and .$7,000,000 a month. It cun bo fuither estimated that un filled orders, which stood at $05.021. 000 nt the beginning of the fiscal year, April 1, now amount to about $50,000, 000. If Wcstlnghouso should put into un filled orders at the roto of $.'1,500,000 until the end of the present fiscal venr. that item would stand at about $22. 000,000 on tho 1st of next April. That is about as low as the company can wisely allow its unfilled mnrgln to fall. Thus, if lookings show no improve ments lu the nevt eight months com pany officials boliee that there will be n considerable improvement long before next April- the piecent rate of hil'mcs could be continued and tho year's gross business would stand at about SI'J.S.. 000,000, compared with $1.10,000.000 last year, when the company earned SS.4U a shai'o on the $71,812,050 com bined common and preferred stock out standing ($50 par value). amq TRAPPR, An Underlying C. B. Q. Bond Legal for Savings Batiks in 14 Stales Nebraska Extension 4s 1927 Secured by first mortgage or first mort gage bonds on a total of 1,471 miles of road at the rate of only $10,790 per mile. Offered at the Market To Yield about 5.80 Bonbright & Company 437 Chestnut Street, Philadelphia New York Boston Chicago Detroit Cental Leather The outlook for the leather industry and for this com pany in particular are sub jects discussed in our re cent analysis of Central Leather. In addition to comprehen sive statistics and informa tion regarding this com pany we go into detail as to the probable future market action of the stock. A few copies are available for interested investors and will be sent upon request for Circular No. 129, ac companied by 2c for post age. MOODY'S INVESTORS SERVICE JOHN MOODY. President 1124 Retl Eitate Truit Blde.,PhiIa.,P. New Yorlc Boton Chicago w LEATHER STOCKS A upeclal letter has been pre pared by ub analyzing the two large leather corporations, namely: Central Leather American Hide and Leather A copy will be sent gratis on request RK.GVWRIE&CO. Mrrrhrr I'llll". Stock Eichnno 1418 S. Penn Square SUITE 300 srnt'CB O705 RACE 4S3 l) tect Hires fo ,Yu 1'orfc i an I'nncipat Jlu;eti A Record of Investments can bo kept in a most conveni ent way by the use of our specially prepared loose-leaf folder. These folders contain detachable sheets, properly marked ahd .spneed for keeping complete information reard ing all income-producinjr prop erty bonds, stocks, mortgaKes and real estate time pur chased, price paid, income therefrom, etc. There are also sheets for keeping records pertaining to all forms of insurance. A complimentary folder will be sent to any investor on request A. B. Leach & Co., Inc. Investment Securities 115 South Fourth St. 1 WE OFFER no nrjulpmont Trust Or tihVato covering tank cara at about 60 of their Uuu on a basis to )ieltl oir S'o. WlDINER BtDO, PHILADUPH1A NtaYotStocktdtw IUZMUTN. Nl. fl 1 MIWYOSK , . . , jjUn GRAIN AND STOCKS Facts and figures relat ing to securities or grain cheerfully supplied. Wo specialize in Odd Lots Boureau & Evans Member I 1'I1I Mock KichiDi V Clilrato Honrd of Tr 13CJ South 15th Street Philadelphia Locust Slat ltaco nat Thirty n nnictti rpresntltiB canh anrt nfurltl" u!un. hn d by one of the world a InrKem Industrial con itrns TIiIh amount In equal to $120 a share rn th common Block rrnsont riUldcnd rat $0 a vr, ileld. .'. our KOUTNIUHTI.Y nE- IKW niitllniti lu rurtiUtornblft jn ill thw imnparo a excellent niidiiUul iuHttiun. Aik or lie iuj.j of ! L-711 E. L VVITTMEYER & CO. Incorporated Investment Securities 42 Broadway New York PENNA. TAX FKEE SECURITIES PAUL & CO. Member 1'lilH. hloik Itvrlinnxe U2I CHESTNUT STREET Virptinia Uwy. & Power 5s, 1934 American (Jus 7h, 1928 United Giih & Elect. 6s, 1945 HENRY D. B0ENMNG & CO. STOCK l:( HANdlC III IMIINfl llret I'rltiilr 'lelriihnrip In Nrir York Mrmbrro I'hlli Stork Kxrhxnrr AUTOMOBILE INSURANCE tinEBTY UOTVAIt 1HHUHANCK CO. tUwjm iciuWMW S(Kta flo. lBUt pu FINANCIAL HOUSE of mtt-rtmtloiinl n-nututloti tlnelre to nminunirate wlti hluh-Braile unleimen of proven ability Hplendld promotion for rlKht men. Stuto ate, SutXrtiiS!. Phone and full pnrtlcuUre, "" i-:i. ekixikk nrriQK 1-1 1, 4 va H a.. .toi4y T &$ " f '. T i .J'h ' '''a-'-tX fs. iH'h i .1 eU- ,-fct k, 1 . y - j-lj & !-'