W'n.fJ
v
- iVsH
!5e-y
"
T
i
r4 i
.4 '
EVENING PUBLIC LEDGERPHILADELPHIA, FRIDAY, AUGUST 12, 1921
r
Lvf. i
f' s
Hy A
fefflf WMT SEND FOR THIS BOOK
ft.t
rt
UNLESS
you've mndo up your mind
you wish to take advantage
of the present nover-to-com
again opportunities in th
. STOCK MARKET.
ITMie tne edition laita copies irCll
gladly tent upon receipt of tec in nampt
ft to defray cott of mailing. Writ for It'lt.
i. F. McGOVERN & CO.
' Ifrmbfr. of rhlls,. Stock Kxermnt
1430 Sooth Fran 8a.. rbtl.
proe 6116 Rare MSB
' Urtltr. cxtentrd In all Market
Ntw Vorki 32 Uroadwftr
Our August
Investment Bulletin
gives some facts and
figures regarding seven
bonds of varied types
yielding from 4.80 to
over 9. In addition
the domestic business
situation and the bond
and stock markets are
analyzed and future
tendencies discussed.
Complimentary copies
sent on request
Hemphill, Noyes CBi Co.
Member A'as York Stock Exchange
Franklin Bk. Bldg., Philadelphia
New Yotk Dotton Scrantcn
Buffalo Albany Syracuse Baltimore
E
ARLY RECOVERY
OTIS & CO.
Stocks Bonds
Acceptances
Foreign Exchange
Member of New York,
Cleveland. Boston, Chi
cago and Detroit Stock
Exchanges, the New York
Cotton Exchange and the
Chicago Board of Trade.
Private wire connections
with principal markets of
the United States and
Canada.
216 Superior Ave., N. E.
CLEVELAND
New York Boston Detriot
Cincinnati Columbus Toledo
Akron Youngstown Dayton
Denver Colorado Springs
FAILED 10 HOLD
Continued Weakness in N um
bo rs of Industrinl Sharos
and Specialties
New York. Aiijr. 1- lrrfRtilnrity
ninl pt,nfrlnnallsm were tin nntatand
inR feature of today' contiicinc tnek
market. Moderate povrrlng nn the part
of flip smaller fry of flip short interest
wah pntlrely responsible for IIip brlpf
recovery liiovcnipnt ilurins the forenoon.
(tlipruip tlip pntirc Hit lackpd "tftnin
iliK power. In consequence, when llire
rpiiiirpniPtitti were met price began to
dip Imc4 twiiin. fol'owd 1) outcropping
of frcli weaknpsi In n number of l be
Industrials, particularly ibp motor.
Icatbcr anil somi- of the copper stocks.
Another hljlhlj fiiviirable Keileral Re
serve Itnnk "tiileiiient ".bowing a re
markable advance in the reserve ratio of
the combined Reserve system from (W.7
to (." per cent failed to bolstei up the
maiket as well im did the further otHclal
asiuraure of the sitifiii'tor, clearinc
up bunk disturbance which had been
Klvlni the Street considerable cuneeni
all the week. Further enkin' m the
industrial shares at the onl-ci inton
sitipil the prevailing dejection in sppcu
Intivp circles, howovpr. anil i outlier
balanced whatever good effect iIipm- In
tlueuet'x might had.
There was little i Ipiicp of thp press
ing liquidation observed in the preced
ing M'stdon. which in tutu induced inoie
cautiousness on the part of the rcnc
tionurj p.irtv. Lntcr experimental buy
ing opci-itions in the railroad group to
sec whit would follow caused come
bhort lovering in other iunttets. Terli
nicnl conditions supplied an additional
impetus to these operations ami ml
nnccs from 1 to over1- points wprc reg
isterel before middaj in practically nil
the different groups, with the wider te
bounds oci urring. of course. In those
issues which hud brn the hardest
prcsed ill the iccent seniors
A subseipierit outbreak of liquidation
it, tVntuil Leather and Continental Can
v. hieh carried them down .'I points each
to new low 'evels caused rrcei(iiw from
the morning top figures everywhere.
The weiiKiiess extended later to the
motor stocks and then to the coppers,
nil proving surprisingly vulnerable to
presure. About the same time advices
from Washington indicated chances
were growing slimmer for getting the
Hailrnad Refunding Hill through before
tlie summer recess. The oiockaders from
all indications appear to be In the sad
dle and despite the efforts of the Ad
ministration it looks as If the lull will
be anchored in the committee. In
nlrcudj highly sensitive condition of
the market, this unpleasant bit of news
did not set good, and the rnilronds soon
surrender most nml in many cases all
of the earlier improvement.
LOCAL DEALINGS
OF SMALL CALIBER
Considerable
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv.
Sales In I
Local Interest
idjtt.stment of
A en' i ork Bank Trouble
Concerning
Ppalings in the locnl market dwindled
to insignificant proportions with almost
stationary prices, the only action being
supplied by those stocks linvlng a dual
market here and in New York. Tlie
broad pollcj announced by the Penn
sylvania Rnilrond management for fu
ture dealings with Its employes fell tint
ns n pancake. After receding to .1ll:li
the stock l allied again to !l" in sympa
thy with the improvement of the rails
on tlie big board Tlie same lutlueine
accounted for a l' point rise in Read
ing
In the purely loenl shales little wa
done. Only limited dealings were ieg-
l"terei in Kleetric Storage Hnttery,
with tint' specialty (hopping buck to
1 lO.'ito after opening at 101. Few shares
of 1 . . 1 wele taken III .1.1
too
400
100
900
300
too
too
1000
160
100
100
100
400
too
500
3000
000
.100
1 601
300
200
H)0
too
3(00
10;)
1400
800
2100
0110
4100
390
200
1300
400
IWoon
1100
100
" 7S00
2000
tsno
; too
?00
.100
too
300
1400
12200
1300
too
40110
1100
A90
tson
310
3001)
R00
.100
3000
400
1(100
1200
100
200
100
1)00
too
100
600
too
Hlth
AJax Ruhber tVi
4 AIIIh. Chalmers 3?i
1 Allls.Chalmcra pf .... 7114
Allied Chem A Dye... 30&
. . Am Agrlc Chem 30
. . Am neet Sugar 2S
7 Am B Shoo F pf new. 02
Am Can 26
7 Am Can pf 82
12 Am CAr & Fdy 123
7 Am Car & Fdy pf . . . . 10ft
.. Am Cotton Oil pf .... 3014
.. Am Drug Syn &
5 Am Express 117
.. Am Hide & Leather pf 48J4
.. Am Intprnat Corp.... 30(4
1 Am-I.a. Franco Bng... 8J4
.. Am Linseed 21
6 Am Locomotive 834
.. Am Safety Raior. . . . 4
..Am Ship A Com H
.. Am Smelt A lief 34H
S Am Steel Foundries.. S.H
Am Sugar Ref 6334
7 Am Sugar Rcf pf H7M
8 Am Sumatra 47 i
0 Am Tel A Tol 10S&
11 Am Tobacco 120?
12 Am Tobacco B 110
7 Am Woolen CflJl
.. Am Writing Paner pf. 21!
.. Am Zinc Lead A Smlt 7H
.. Anaconda Copper .. . 3l',i
Atch Top A Santa Fe. 84 Vi
5 Atch Top A S F cf ... 80 14
.. Atl Olllf A W I S S... 21
. . Atlantic Pet 12J4
'. Baldwin Locomotive.. 7314
.. Baltimore A Ohio 36 $
B Bethlehem Steel B.... 4914
.. Butto Copper A Zinc. 414
. Butte & Superior Cop. 1314
. . Butterlck 28J
.. Caddo Centrnl O A H. 10
. . Catm J 1 414
10 Canadian Pacific 113
. . Central Leather 31 ?i
.. Central Leather pf... 6214
.. Corro do Tasco 21 (4
6 Chandler Motors 47',4
.. Chesapeake A Ohio... lV
. . Chicago Mil A St P. . . 2H
.. Chicago Mil A St P pf 30M
.1 Chicago N'orthweatern 60
. . Chi n I A Pae 31
.. Chile Copper 10
. . Chlno Copper 22 4
.. Coca-Cola 33
.. Colorado A Southern. 3S
.. Col Grrphophone .. 4 14
a Colum Gas A Elec .1314
.. Consolidated DIs Ina.. 6
7 Consolidated Oas .... 8!4
. . Consolidated Textiles. IH
7 Continental Can 43
. . Continental Candy ... H
7 Continental Insurance 60
S Corn Products Ref.. 6014
7 Corn Products Ref pf . 101 14
1600 2.6D Conden A Co
1000
400
700
300
100
soo
SI oo
100
4011
13300
100
1300
1000
100
200
401
200
300
too
.100
600
2M
230
100
!flo
soo
101)
1300
300
400
.100
200
010
3000
4 Crucible Steel
2 Cuban Am Sugar
. . Cuba cne sugar . . .
. Cuban Cane Sugar pf.
IS Endlcott-Johnson . . . .
. Krlc 1st pf
Famous Player l.
2614
4?ft
14
on
23 ',
fi8(j
10
4S'
4 Federal Mln A Smlt pf 23
. Flsk Rubber .. W
. . Gaston Wins A Wig. . . 1 14
.. General Asphalt 4IP1
6 General Asphalt pf... 014
8 General Kleetric 114
1 General Motors tl'H
6 Gen Motors deb 6"i . . . 6314
. . Goodrich B F 311,
7 Great Northern pf. ... 73 J4
4 Ot Nor Ore ctfs 2014
. . Gulf State Steel 31 U
. . Homestake Mining .. &7U
.. Houston Oil 46 lj
1 Hupp Motor Car 11
t Illinois Central 0414
. . Inspiration Con Cop.. 31 H
. . Interb Con Corp SH
Intercom Con pf .... 10s
"i Int Harvester new. .. . IR'.i
.. Int Mer Marine H-i
6 Int Mer Maruic pf ... 41 U
. . International Paper . . 16
.. InMnclble Oil Corp... 7?,
.. Island Oil 2J4
. . Jewel Tea 8'j
. . Kansas City Southern 2.1
4 lCelly-Sprlngficld Tire. 40
Low
3314
30H
7U4
34H
2H
28
02
H
83
123
10014
314
4Ji
117
48
3'4
8
2014
3
3H
OH
3314
25M
0314
87
414
10.1
I184
117
67 X
204
7?
34
S4'4
80
20 H
12'4
72 U
3614
4814
414
m.
26 ! i
10
4?4
112
2S,
014
2414
46
1,7 H
2.1
3s;
60
30
r4
73
3114
3.1
4
A2i
6
8.114
iH
41
H
60
6.1 lj
101 14
2AH
13 li
13!,
01.4
2314
&7&4
10
4
"o14
l'4
43H
s0 14
11214
I014
3!
3114
73
20U
30 ii
1714
46
til ?4
04
31 14
3 V,
ton
:3
14
0!4
t?i
''2
2
ri
2414
39
3214
2H -7114-3614
30
28 -
Net
Che.
14
14
114
1
14
1H
14
T4
H
H
114
14
14
114
vt
54
H
54
' 54
54
14
54
V-
2J4
I
1
3
16
83 -
123 -
10014
3014-
4H
117 -
48 -
3014
8 -
21
S3X
3J4
6H-
3314 -
2GH-
63X
87J4
4614
10
120
110 t-
3 14-
7?
34 4 -8414-1
80 J4
21
1254
73
36,
4014
454
n
2614
10 -
41-
113
3NH-
J5914 - 2M
2414 - 54
46 -'314
2.1 H
30J4
66 i
31 14
10 A
22 1 i t
31 14 -31
-
414 -f
3?i-
tl
85 14
1S
41 -
H
60
66
101 V7 -26
4
64 4
14 0!4-
23 14 -
i1
10 h
4H 4
2! I
44
1 14 r
44',
son -
113 -10',
-
0314 -31',
73
2314
31', 4
JU 46 -I0?4
04
3IH
34
liiH -:n
014
41
46
2',
"'
2.1
30
Dlv.
Balea In i Hlsh
Ml .. Kennecott Copper ... 18
I0 .. Reritone TAR 1214
100 . . Lackawanna Steel ... 83
son s.ao Lehigh Valley (OH
400
3060
200
100
300
18000
710
4700
300
300
100
100
000
CUfioo
400
600
300
1
It
7
12
2
I
54
X
54
54
14
54
14
54
54
5
54
',i
'4
4
54
54
54
54
H
54
1
!4
,i
4 H
'.I
",
3300
300
200
BF200
2000
1300
300
600
1000
100
100
300
T4100
1A0O
200
100
too
800
300
300
100
110O
100
100
too
200
1A0O
600
C1200
400
100
too
700
100
3100
100
190
3400
2600
1600
100
100
ion
1800
16300
200
101
3401)
1100
2S0O
100
1400
sou
100
600
530
100
Q 300
300
300
3000
200
0500
100
1400
200
0601)
200
32(10
30'l
200
100
Kioon
300
100
20l)
1700
100
20(1
SOI)
700
Loewo Co 1 1 14
Loft Candy 814
Lorlllard Tobacco .... 147
Manhattan Elev sruar. 45
Marland Oil 14
Mexican Petroleum . 0
Miami Copper 2014
60 Middle States Corp... 11
.. Mldvale Steel 2354
.. Minn A St Lout 1114
.. Mo Kan A Texas pf . . . SH
.. MIsEotirl Pnclfla 10
.. Missouri Pacltlo pf. 8814
.. Montgomery Ward ..'. 1714
4 National Lead 73
.. Nat R R of Mex 2d pf 414
A New York Central.... 70
100 1.60 New York DOCK 29
700 . . New Tork N H A H. . 10
100 1 New YorkOnt A W... 1714
100 North American 6014
7 Northern Paclfx 76 J4
. . Okla Prod A Ref 1 J4
2 Orpheum Circuit 2014
.. Otis Steel 1014
.. Paclflo Oil 34H
6 Pan-Amer Petrol .... 40'4
2 Pennsylvania R R.... 37!
.. Penn Seaboard Steel.. 74
.. Peoples Gas Chicago. . 5314
. Pern Marquette 18&
3 Philadelphia Co 2ft
. . Phillips Pet 17
.. Pleree-Arrow Motor.. 14
.. Plerce-Arrow Mot pf. 2914
.. Pitts A W Va 36
.. Pressed Steel Car ... 87 J4
8 Pullman 014
.. Punta Alegre Sugar.. 28
4 Pure Oil 351
8 Railway Steel Spring. 74 J4
.. Ray Con Copper 13
4 Reading 6714
2 Reading 2d pf 38H
.. Republic Iron A Steel. 48 j
7 Rcpub Iron A Steel pf. 84
.. Republic Motors ..... 814
20 Royal Dutch NY 81
. . St Louis San Fran .... 23
. . St Louis San Fran pf . 3A
.. St. Louis Southwest... 33J4
. . St Louis Southwest pf 33
. . Santa Cecelia Sugar. . 314
.. Saxon Motor 314
. Seaboard Air Line... 6
. Sears-Roebuck 64H
. . Seneca Cop Ccrp 144
. Shattuck Arizona Corp 6U
. . Sinclair Oil iH
e Southern Pacfllc 76 34
. . Southern Rail 10i
.. Southern Rwy pf 4614
Standard Oil of Cal. . . 7114
Stand Oil of N .1 pf . .. 1074
4
7
2 Stewart Warner Speed 24 ',4
10
4
8
6
Studebaker 73?i
Superior OH Corp. ... 34
Superior Steel 1st pf . . 04
Texas Co 34
Texas A Pacific 24
Texas A Pac C A O.. 17 JJ
Third Avenue 1414
Tobacco Products .... 56 Jj
Trans Con Oil 6ii
Cndcrwood Typow pf 10114
Union Oil 10 Ji
Union Pacific 1104
Union Pacific pf OS',
United Drug 54(4
United Fruit 10214
United Rwy Invest pf 10
United Retail Stores.. St4
U S Food Product... 164
U S Ind Alcohol 4814
U S Realty A Imp.... 47
U S Rubber 81 14
U S Rubber 1st pf.
U S Steel
94
7411
V S Steel pf 100
Utah Copper
Vanadium Corp
Va-Car Chemical
Va Iron Coal A Coke. .
Wabash pf A
Wells Fargo Express.
Western Maryland . .
Western Pacific
. Westctn Union
White Motor
Whito Oil Corp
Willys-Overland
Willys-Overland
Pf
4.1'.
2R
2414
63
202
56
04
22
81 14
3154
J4
614
30
Low
17J4
1314
38
50 H
11
8
147
48
134
00 H
10 ii
104
53 H
1U4
aw
to
374
17 J4
73
4
70
39
16
17J4
6014
7514
U4
2014
1014
34
434
37
714
5114
184
29
1614
13K
28H
26
67 J4
914
2714
25H
74
12
6614
38
454
84
a'J
49 '
22 9,
34 J4
23
33
3 54
314
6
634
144
614
1R
76,
1014
4514
7154
107?,
23
71
34
01
334
22
in
14 '4
6 14
0,
10154
16 '4
110
65 1 4
54
162
18
50,
16,
404
47
50
0.1
734
100
4414
28
24 14
63
20 ',4
56
0 54
23
80 14
3114
H
',i
2914
b mm nivt
IN NARROW LUIS
1 .60 Net
T. XT. Chee.
17J4 ?
1314 4 54
38
60H-
11
8 J4- 54
147 - t
46 - H
1SH - H
6 54
1IJ4 ..
10H- H
2314 V
1114- 54
3H 5i
10 4 'A
38l 14
1 7 14 4- 54
72 - 1
414 54
70 4
79
16 14
1714-
6014 214
75H 94
1J4
2014
10 14 4 54
34 I- 14
4614 4- 4
37
7H- 54
51 54
184 'A
29
17 - 14
1354- 54
28H- V
20
57 n- 54
914- -54
28 14
25H- 54
744 154
13 -14
0714 4- 154
3814- IK,
454 54
84
814 - 54
50 14
23J4
35 H
23 - 54
33
254 14
314- '4
6 54
64 - 5
144 - 14
6 14 - 14
18 4- H
76 V. 4- 14
11)54 -I- 54
414 - '4
7154-
1674 14
23 - 114
7154 4. ih
3?4 - 54
94 14
34 ?4
23 - 114
17 94
14'4 ..
"OH 54
o; - 14
10114- 314
1H-
11914 14
fi-114-
54
103 14
18 - 1
o4 s
16H- 14
464 - ?4
47 r
50 14 - 14
05 - 14
73 Ji- I',
109 - 14
4414- 1
28
24' ..
63 -
2014 .
50-2
0 34 14
2314 h 54
8114 2
31 14 . .
854 ..
54 -.
30 1
Commodity Markets
I
GRAIN MARKET
Chicago. Aug. 12. Wheat started
with sonni Eastern interest buying Pep.
tember. which wns '4e to ',c higher.
December opened '...c better. Trade
was light. A New York message .ays
London reports the Royal Commission ,
mi When 1 Siinnlies announces that I lie
lliila- 'sale of Uiiveinment stocks of wheat has
LONDON STOCK MARKET j
Oils Easier Industrials Qulet.j
Home Ralls Droop Kaffirs Cheerful
London. Aug 1'J. There was little
feature to the trading on the Stock Ex- 1
change todny and changes in prices'
weio slight The attendance in tlie
house showed no increase.
The oil gioup wns neglected and
easier. Shell Transport nnd Trading
was.-, 1-3" and Mexican Eagle i :tl -IPJ.
Industrials were unlet, lint steady,
Financial Briefs
7 h' ayerasa price of the twenty active
Industrial ;tcks declined 0.20 per cont y.
.'" ''V I wuiQ inH iweniy railroad,.
0.71" per cent to 71 SO.
tcrdav
declined
An IfffiUA nf sin ono nno su ... ..
putio Improvement t,ond na awarded to
n sThdlctta of New Vnrli hanks hy the ni
renu .if Insular Affair, on a bid of n is
for nil or none of tho Imuc Thev will bj
centr Rt "nd lntor,"'t 10 l-li AH per
Doalings in Industrials Smallest
of Yoar-j-Heavy Trade
in Some Mines
Now York, Aug. 12. Tho tone of the
New York curb market wns steady, but
business was so quiet thnt little Im
portance wan attached to the narrow
movements which left even the lending
stocks practically unchanged in their
trading position nt the end of n dull
day's business. Dealings in the indus
trials were probnbly on the smallest
Hcnle so fnr this year.
Sweets Compnnv of America yielded
slightly, selling at 2'j, while Glen
Aldcn was fairly well held, selling (it
JI5. The time for subscribing for tho
stock expire on Mondny. Columbia
Emerald, which sold down to 00 cents
n shnre 11 couple of tiny ngo, whs traded
in nt 03 to 00 cents n share. (Joodyear
Tire wns steady, n sale being made nt
1. Car Light nlso showed n slight
decline, whlth n sale nt 1 1-lfl. nnd
Urltish American Clieinlcnl sold nt I.
Aluminum Mnnufncturlng wns traded In
nt 18.
Petroleum stocks were more nctlve
tlntn tlie industrials, but also swung
within n nnrrow range. Stundnrd Oil
of Indiana was Improved in tone, mov
ing up to 7034, and Mnracnlbo wns in
n moderate demand, ranging from 10
to '-'0. Hales of Simms Petroleum were
mndo nt OVi to (P4. International Po
troleura wns quiet, selling nt 10Jg
Cities Service iu small lots were traded
In ut 115 to 114 for the common. Tho
Hankers' shares sold nt 13.
There wns henvy trading ngnln In a
number of mining issues, Rnston nnd
Montann being the strongest feature of
those stocks, (loldfield Florence nnd
Xntinnnl Tin both sold nt slight recessions.
INnr.STItlALS
Mich Low
Alum .MfK IS 18
Urltish Amer Chem 1 1
far I.luht lr 1A
Columbia Errmrald 60 03
Etno re Food .T."n 31
Ulen Aiden Coal 65 6A
Uoodyear Tire 12 12'
Peerless .Motor 0H 3n
Sweeta Co 2'n 2S
II S I. & II 1 1"
ir Steam 3:i 38
I'nlted 1'rofli sharlnir ... H IH
Wayne Coal ln l's
STAMtAnil OILS
Anglo-Amer Oil ... t.V in'n
Nut Transit i'.t "JH
Htund Oil of Ind .. 7nli 7u'i
ixi)ki'i;m)KNt oils
Iloone Oil
Huston .omlnu . . . .
Cnrlb Sjnd
Cities .service (old)
Cities Service ")l" ctfs.
Cushlnn I'ett
kik Jinsin l'el
Kdmunds Oil
Kay 1'et
Poderal Oil
Olenrock Oil
Hudson Oil
Ir.-i Petrol
I.ons IV t
Marncalho OH
Mexico oil
Nut ona OH
Omar OH
. 10
. (IT
I
.116
. 13
. 15
. n'
. 1A
in,
i
20
;n
I .V
Producer St Iteflners 35s
Slmms i'fi i,,
Skelly Oil 3H
lexon .14
II ot 1 . i. I weie tiiKen 111 ...)"s. nun- - - '"" .J..i..:....; -Ti . .J ' Industrials were ouiet. but steady. Inraraontinn r ,. n .,
J.delphin Traction was off a point from Oeen eouipi eteii 11 ecci, m 11. ,,... ."-'' ; Th rMm. SPt.,inn displayed weakness Poratlon of .Michigan took place Wednesday
1 'iiiikhi) 'iiiiiiiiui" I"1 "" , ,, i.i nn.i,.A m.i 1 ruirrti iiivi".miii'ul imh-- i"ui iiiucm r, , in, ir wniic iiu
but (inner. Kr.'iir'li lnnn wnvcird bo
fiiiiM of the di'ntllWk hut tho KilcMian i 8i7b . ift,1.!!" J??lf"p'!y',! ,.nU,' tm-
?' ,p t'Wi r4onrt for 11(20 rMflpcts ih -question.
.... . . 'jrerne dlffl- ultle, the companr-VpertJnJ?.!
'd
on in u mr
United
States
Steel
We have prepared
A Mirror Chart
and report on this issue, show
ing every important market
swing since February 120.
Each move is explained in
imple language making it
valuable to the investor and
trader interested in this se
curity and lh ctecl situation
in general.
Sent Frrr fjinn Kriinrit
Ask for No '.' :T
Kardos &. Burke
1424 WalnutSt., Philadelphia
rhone. Spruce 6307
New ork
Cbktin
Pii'irnirgh
Ba lirrc-re
Direct Pnvctf U't.ri Crnnfcnnf All CFifri
11111
other hand, uihniic
1 1 .ilisai tloii' in 31 r's
Local banking circles are deeply in
ti rested in the adjustment of the nf
fans of the Mercnntlle Hank of New
ork Advices received here this morn
ing leported 1 he disturbance had been
ccuied uu and in all nrobauility a tie-
nn 111 inns nil il tor c loirp xrHiies. .11111
ing and export demand was active, while,
ofieungs to arrive are Iignt and firmly
held
Receipts in the Northwest are not
coining up to expectations, while the
mntwinipnt of winter wheat Is ileerens- 1
ing rnpldl. Weather conditions are
Home iiuls (iioopeil on professional 'n"..,J'';r' -Net income of jMs.'.'Si. nfiei
nun
ccuied up anil in an prouuuiuiy u -- - ,, ,.,,, , 1. u, ,i
.riled statement wo, be furnished mnrp favorablp with nnl light and
r;'.. hV da ' . oleriiig aU the Vrans? , -ttered rains eported buying for .ohanns.mrg account. pJ--B" feTuff.
''m'riTinte'rVsV T l!t J.CZZ c "A rT t" U VESTOCK QUOTAT.ON8 BW HRUB&S
nl ,Im1,M hnnkl .. I rests ' , c. mber. Trade was mixed, with com- pu.sUur.h.Au. w. llu.is r.,,1,,,. -..saa ) nfenn dabr I ZVuVcZ0,,'' ,w'n nVKnae
I liiladelphin hanking interests. mNsnn hoin-es on both sides. head, lower. n,avi-. 110 7S ,.h;w ork-' Argentina "nallv '"W lor a loan iu
. :! IV..., ..r.,H u-lrli September nnd He-1?" '"!.""fil workers 111 CrU. if. pigs.
:. Dollar descriptions sagged with 1 .hire Varnid ne?h"s" VSi. '", ."lv -07. ?
New York exchange Argentine mils ' P?or howlng alnniiside of 132 nn 'a share
were lifeless, lint inclined to ag.
Kaffirs were cheerful and bnni 1111
,..!.. ,.. ti 1 .."'"" '"'.nrsiiir m )jr onns innde hv
rarnea on tne common slock in Kilo
Slnc the first of ih
WooOTburn so
minim;
Uoslon A .Mont.inu . . . . 7 1
CI falwdur 17
KtiiekH Croesus 15
Hold Cons . ' it
lioldtleld Florence 41
lliirmlll Divide 1
Ken uako 31
Knox DlWdo 12
.McKln Dar in
Mother l-ode Oil 3'.
Mother Lode new .'S
National Tin 57
Nevada Ophlr 2S
Nesiia Hier Horn A
Nlplsslnit 4t,
Ilex Con, R
Hllver Hills of :teala .. II
Steward Mln :i
TotNpah I)ilde 77
Tonopah Kxtenslon 1 'a
Tonopah Montana 4
Tuloumne 45
t'nlterl Kastern 2Vi
White Caps 1)
110 NIKS
Aluminum 7s 07
Anuln-Am-r Oil 7'is .UmiV,
Armour 7 07
Harridan Sj i
Ileth Steel 7h llia.'i US
lleth Hteel 7s ll'.'S . . . lis'.
Can Nut Rv pii 7s Kim
Cons lis, s . , .tool,
Copper Export sa 1112a .. 101.1,
Copper Uxport s 102;, ..102
(Jalena 7s till'
(;ulf Oil 7i II7H
llelni Co 7, wits
Humble Ol: 7i 117',
Iniorboio 7, 7H.
I.lbby .Vc.NVil 7 . . nr.
Morris t. Co 71, . Hii,
Sears Hoebuck 7s 1022. . l"M
hears Koobuck 7 Ift23 . 117
Holisj ss . 11114
Stand OH N y nt,, . . . jiinx,
'1 c.i 7 l'l " 117s.
Bwlft & Co 7, 1P31 (i7?
I.X.IH (.u 1. iiu',
Unlfc) Druit s, .. . lou
'Hcuuni OH 101
Western I'nlon (IH h dB'-j
17
(17
I
111
l:l
1.'
ft'.
1A
k
10
in,
1
la
UM
HO
St
r. 1
77
Philadelphia Slocks
Hiah !."
Ill Elec Slur 1H4 HI3'.j
Js 1 C A "JS'j -''i
KM l.eh Val ."l1! "'"'i
."il Lit Sidiyl 33 3:',
Ids I'D Ft . 37 31', ',
3.- I'hila Co
ills, pf .
1J I'hll.l Elei
pref
I." I'biln'J'rnc
KHitllending.
lull 'I'ono Mm 1 ' 1
J." C O I... 33".
1 l
! M
iu:t' .
's'I
.-,(P,1
fl
chKS
III l " - (1 ' I "IIU .-. - - - .
'eember uiielianged. Trade was light.
with slioits t.ikiug offerings put out b j
hedgeis.
!l''s :l 31 -s
'J,
r,:i .1:1
(17'.. i"
L'f.i.
1'4
r.3 l
K7'0-rl'4
:t"i..
GRAIN AND STOCKS
Facts and figures relat
ing to securities or grain
cheerfully supplied. We
specialize in
Odd Lots
Boureau & Evans
I'hllu. mark ExcLsnt.
Cliluro IWinrd of TrnU
lltmbrr
130 South ISth Street
Philadelphia
Locuit SlSt
face Hit
i rhanBi mde b cmpdrtsun with Inst
, . on ' V Tk .st'Mk Kx'tiiiiiK.
fiiii.vir,i.rin ihimis
l.'il I.iheitx lid -1'4 '4'J 7 VJ
Kill Lihein 3d 4',s "JS ill 74
initio Lihein 3d l',s '2 fll .S'J
1 ill Ml Libert v 1th t,s ".i 87. SO
I'll."!) Victim 4V,s '.,l . !ls (HJ
10(1 Amer (Lis Electrn .". 71
WHO Hell Telephone. 105
J0(Xl Pcnnii It It temp n (l'..s !in,
liOOO I'hilndelphla EIim 1t ."is.. ,ssU
JIM II I Phllilde!(ihin Ele 1st ."is
1000 Philadelphia Elec Kt 5-
COTTON MARKET
i New York. Aug 1 - Husluess in the ,
citlon market was fairly active this
moining and prices had an irregular i
opening nr from 3 points nihancc to '.) ,
decline Wnll Street nnd Liverpool sold
uIiiIh mnie of the spot houses nnd '
i locnl traders bought on reports of ion-
' tinned high temperatures In Texas.
After the start, the market was quieter
nnd acted easier, declining generally
7 to 10 points under Inst night's close.
ti... -.....li.ta nt tho norts for the (lav
are estimated nt 17.000 bales, against
10 77s bnles a week ugo, -1311 bales a
war ago and "O.UsO bales two years
ipti.
Previous
('Ion
12 mi
!.' .. 13 01
14 J3
Dcembr is "
Manh ' '. . ' 8 '
Juli '2
111.2.M11.oO.
HHCRP AND I.Arns
hesd. lAJer Tod sni--ii I
i Al.VKS Itou'lpls, 10i
Top 110 50.
ept
f.n
dry
2."c
Kast IlorTiiln. N. xu
Iticelpis 275 h.rf.l ljir
fed. Calves nc'iuls son In
h Khr S.1WI1 SO
IICHJS Hecelpts .1111(1 hil Slow Heady
1.1 2.1e hluher Hea-i S10 .Infi 'n 7.1. mixed
J11WI1.2S nrkers nnd llshl workers $11 30
"fll 7.1 t1 ll .'."fll .in lou'.hs JS.
sinus 14 r.OffiH
KIIEKI1 AND I.V.MII.S nerolpl. I ,nn
head S.le hlsher l.a-nbs. ".0 I rm, v jr
Unit S8.H0WS viihers fB.lfKin- em-s,
$10.1 inlxd ht.p l.'.li.l Id
MONEY-LENDING RATES
I Tim f'nilu.l .).. ...
sso , i lh ,::. ?, : ."ir"mAompp' r?:
of a jeur iiro It li expelled the rompanv
''Mil pin iiboui to-.r.lrds of Its JI (lOO.Wm
fle-ear .1 nor cm il..h.n.,. ... ... . i..
! Z?Z , "' of """h11" ad 'he bnlunie with
i-Al-TI n
Iri.lnts
.'u tup l.ilnb,
lieail Stead).
I bank loans
Cash llo
Jim Hutlr
MarNamara
Crescent
Midway
Mlzpah Kxt
Montana
North Star
Rescue Kula
Tonop.ih Kxt
We.t End .
Wet Ton
LOCAL MINING STOCKS
TONOPAH STOCKS
Hid
i 'ILUSt
September
s 11 -no
Or'n A M.
13 J'l 13 27
1.1 (17 HI 70
13 7ii 13 73
13 (IS
14 UT. fll Ml 14 08
14 14
NIW YOIIK Money on call hoth classes
of rollateral opened today nt 0 per cent
for lending and renew In.
I Allien UltlUe
!II.MKl.rill. Call n rr rnt, t me. IA"," Dlvl''"
0 pr cent eomniereiul rHT. three to six H!cS,,r ..
months, 0 per cent. iljelihjr Ext
Note Thes.i ar merelj nominal quota- I l,e" "l"
thns the leal rnis of lnfeiet m the siato I I'rouiti DUide
n. li.tnriHvUnnla l Inir axed ut a i.r . ,m DHlde Exl
Plus premium and rommlaalon time money Dlvhle Coi.
Tor tniriy iiinriv mo, in inaiHKl at 'I tn I'l.iuniu ,
per ceni wnue rommerciai itspnr, from I r:oi wivioe
is id. mill nr il it. il ... imimi
" i ,.- -v.. .......
im.uiuui'ft
.0.1
117
If,
nn
.13
.OS
03
.n.i
Hs
7.1
03
DIVIDi: STIICKS
,..
.nan
."2
01
02
4
.07 '
.33
.12
HU. r
thirty to ninety dov..
per cent
s
DANK CLEARINGS
Ilank Mi'ir nps todi omiaiet mth tone
cliondlni? dav last twi v-ars
nut iu'.'" iiuii
Phlla fill nOO (mo 4 7B7 0113 77 '117 oil
N l .i.i;i sun nun tisi hit i4 ,n r,
Federal Reserve Ratios
i Unslilnctnn
.nw. t,, net
pole, liab ht'es
ei al IUS' h
I cf AUKnst
i ei U ml
GE0.A.HUHN & SONS
STOCKS AND BONDS
Member of the Philadelphia, New
York nnd . Chlcaxo Stock Kxchnncea
New York (otton. Kxihiui'e
CommUilon Orders Executed In
All the Principal Markets
Liberty Bonds Douqht and Sold
Helleue Court llldB. ilia Walnuf fit.
N. Y.. Ill HroariMnj. Mlniitle flty!
Amlinssador Hotel
NEW YORK COFFEE MARKET
Now York, Aug. 12 The early of
ficial cables were considered good, and
on this the locnl market opened 2 to 4
pointH above the previous closing flgureR.
Thorn wns n littlo buying or covering.
n i'iJ , nut! right after the call prices worked
n couple of pointH higher. Ihe unset
t'eil tone of the tock market, may have
i.-i.i i...nt. n mnrp nctlve denintwl.
.'n,ll'-!.nd"e';Ver;,;,",'.H,.ri Prices were xlowly working to higher
.mbine.i for me iw , Ked-1 Iev?lH at mlddnv on ii ipt deninnd. the
..-i to f.iiioi ii,., nn ?7 i t lii . with few t-flHiiK orders around
V.irrf ni I'hi'ad'.phia n.i 2- i eie tho rini? The Flint market w nK attain
'and ns 1 lllrhmnn'i 4.2 Msnta lis, , . . , ., ,..,., nrw.(.s tirin nnrl m
chi-s( ns 7, st i... uis my Minncapi i s fairly aitite witn jirices nnn, ana tms
Hk Kansas i'Iiv V) n Kallas ui san should make itMiif felt In n stendier
Framlsco U2 fl mta. n.i n I mniket for futiireH.
I
LANCASTER BANK TO REOPEN' timber
Previous
Close
. (1.4.1
Open
1 47040
October .
ntyr
A. 01
7'. 81
7.IM
1.81
B.tn
).205
7.0B
7 IR
7.84 UBIi
7 43
7 MWS7
7 71
-,.Vf
'v-Vif
C. S. PA'ITON & CO.
81) A CHESTNUT ST8.
BANKERS 1
Snceessor to
AIT.RIt A ATKVKNIinM I
I BuhIi mi ritfk"buiht and sell
U.. Wrf ljlf, 8 -i)rgaIJ
Vnvuni
Reorganization Committee Says De-.c-mbr
poaltors Will Be Paid In Full February .
l-jiicaater. Pa.. Aug 12 At n xro" ! ' ' '.
I meeting yesterday nfternoon of tho May . ...
' Itnnrd of Directors of the closed Agrl- Jul.,i,1(, ""
I ultural Trust Company the I'ommirtee 1
' iccently nppolnted to consider plans for
I pnsnihle reorgaiiuallnn reported nevernl I
..!.,.... a.. A ,..w, .. ni. ...Ir. ...A. I r... .1.. I 1.l.rn.Mll
Muni iiii'i "nr .... M.I..I.II-II 11s ll- 1 V"',r. ".' ., . ( u... ialp a,
.-ii, ...11 ... 1,, iJ ........ . .., ouleler todjy and prices wers e,,ier at
"'..- - "' l'""' .in., 1
approved by Hanking Cnmmiftsionor
Fisher
Rehabilitation has definitely been
decided upon. The bank will reopen
and depositors will be paid la full, the
committee announced.
DIVIDENDS DECLARED
Divide
Mich Divide
Knox
Keert Divide .. .
Iters) Divide . . .
rtoseta
Rllver King
Cities i-ervlce Companj , monthly ona.
half of 1 Pr cent nn common preferred
and preference U in scrlti and Hi per cent u.nh.ri.nii
r, w .....v. n. ft.l nAiarilte In ..nmntnti u. n.. I. .in . '.....u
.III .........v.. uv.u ... .',. H,.- n bltii.
all Dsyama eplemDer 1 to atorK of record
Auitust 10
Chestnut Hill Railroad Company quar
terly 78 cents payabl" September (i as
registered Au-Ul 20.
liar silver was
day at 374 d
BAR SILVER
unrhanted
n London to-
GOVERNMENT BONDS
Panama coupon 2 1030
Panama tealstered 2s llMfl
Panama coupon 2s 103i(
Panama coupon s 1011
Panama registered 8s 1861
Philippine 4s 0l
Phil Ipp na i loan
hilippiru 4 108fl . ...
U H (oVt coupon 2a 1B80. ...
if 9 Oort radsttred 2s 1080. .
tr H Ckrvt eouoon 4s 102.
., -.. ---. .--. -.- -:-
uovt resistsreo a lu.'D.
a IU.' 4
Vk
lOP.
101
llllU
Si
81
101
11'4
nt
.02
.in
OJ
01
1 1
.08
Ci2
.02
111
02
(11
.02
11
C,Dl.Dr'Ii:i.D STO.CK3
I llooih . ... .tin
omn i racnon . .
'Crackerjack . ...
. Dlaniondlield Hlu
Florence
Iiinldtlnld Con
iiout Development
uoinneld Jeep
Tonopah Divide . .
Tonopah Haebrouck
Victory Divide . . .
Verdo Divide
Zona ....
Hull.
it n
Dlat of Columbia
sd 4a
S flSi
I
tos
103
Liverpool Cotton
Vug 12 - nroi eniion was
Jiub'l until aiVune of I points to the bans of S tr..l
.. mirii4iini The sales were 7 "'in na ea
Ths receipts ere 1000 bales, Inc.udlnr 100
bales American Futures were quiet Tend
rs were 200 balea of new. Spot prices were
American, mioaunjr .- ''".. """. .nicj-
iniuuj
dims. O.Sid, fully
F,
,
Una, 8.01d: middling
4m'i low middling-. 8T.B6(J; good ordinary.
Hi. ao ordinary O.end.
U. S. Certificates and Treasury Notes
Int Maturing-
Itale Pjt Hid
34 Sept 1021 101)
t Hept 1921 100 1 32
Oct Hi.' I 100 1-lrt
not ld2i lonw
Tier lfl'Jl innS
Feb 1022 100 1 Id
March Hi 2 2 I no ,1. HI
March 1022 inn
June 1022 inn l-irt
Aug io2v inn 1 m
June, 1024 10n4
Exempt from normal Federal income tax.
t Acceptable for naymmt of fncorns tax
due on date of maturity.
.03
.ii'i
30
on
.01
nt
4
.a
1 .ir
M
t'S
Aaked
toil 3-32
inni,
inn s-in
tnn,
tnn'i
lontj
inn
inni
mnu
mo'i
!00i
in
Tleld
I 27
I 40
4 an
t no
4 43
.1 00
3. Oil
.1 Oft
n 18
3 22
o 43
Oie.it Ilend nni
.lumbn Kxt ns
Kowanaa 02
t.ono Star 02'
Oro
Hed llllli lU
HIHor J'loU Jo
Spearhead .. 02
M1SCEIJ.ANEOUB
Amparo 1 10
Arizona United nn
Caledonia OS
Eden . 10
Kmrna Silver 02
Eureka Croesus 31
Eureka Holly On
Hncla 4 00
Mother lde 3Vi
Nevada Hill 01
ffrvnda Vondr 17
Hucc 'as . ... 02
Tecopa Mining .... 07
I White Caps Ill
Wllberl ... 02
sk
ml
(is
17
.ns
.1.1
in
07
07
23
'i
.Hll
.1)3
..il
03
02
ll.'l
lllli,
.08
.11
n3
nil
03
.12
H3
.02
12
.04
..I
03
02
.70
o:i
na
ns
.13
.114
.oou
.01
III
11
nu
.02
II.'
"11,
.0.1
03
.'Il
0(11
"
.01
1 30
13
11
12
03
an
too
.i
H2
23
H3
no
11(1
n.i
70
1 7
34
II
an
n
3S
12
12
3!
3
311
'.'S
3
y
7
II
a
i
43
07 '
lllll.
074
114'.
H I 4
II H,
Hill,
tlJUVs
10" 'a
HI.'
na1.
!I7.
imS
S
7114
04'.
I'l
list,
n
Ml
Kin'.
H7V,
H7.
(Mi's
10(1
101
H94
i:.in
P M.
IS
1
ItV
(10
31
33
12'i
30
24
li
33
lJi
IV,
23
704
17
II"
I
114
1:1
13
l A
17
10S
1
20
(IS
III
'A
3's
lls
34
31
77
17
114
II
II
13
12
12
r.H
.17
28
3
14
s
It
3
77
14
l
07'.
Inn.
ONH
III.
04 J,
OS".
1014
Hill',
mil,
in.'
lrt
117a.
im4
SU
7H's
03
IMIs
ps4
f.7;
on
100 '4
07',
07N.
nil's
ton
Hi!
inn.
Vayagamack Pulp Passes Dividend
Montreal, Aug l.' The Wayugamack
rulp. and Paper Company has railed the
dividend of 1'4 per cent on the common
1 mji. na company nan Deen paying
111v1u.1i', bv inn rsio ti. u
sine aemimoer 1, JM20.
per cent annually
TOWELSjN BIG DEMAND
Mills Have Orders That Will Keep
Them Going Several Months
While textile mills in gelietal have few
oiderh on hand, inaniifncturerH of towels
ate nctiicly engnged, according to the
Weekly Kevietv of Trade for the Thiln
delphlri district by It. (J. linn .V Co .
nnd will be kept going for several
months to come.
Local wool dealers report trade still
extremely dull, with 11 falling off in
price in the Inst few weekn of from
three to live cents. The prlncipnl de
mand is for the liner grades of wool
which are said to be in Mmall wipply. It
is the Impression thnt the textile trndes
generally will remain dull for home
tnonthn to come.
The Review, continuing, goes on to
say :
"MaiiufacturerH of nien'tt nnd linvn'
'clothing leport a successful season, many
I of the IntteT plants being closed making
iPicparations for the fall trade. Little
nuying is iione. except for Immediate
requirement! mill collections, generally,
are reported slow.
"Mnnilfncturcrs of shirts rennrt llttli.
change In the businetss, buying lielng for
Immediate needs, nnd purchasern not
disposed to pay prevnilltig prices. Con
sequently tales are small and there is
little advanced busineaB.
i.a.i . .. .
.-ioaK and nun inanuiacturei-s are
doing nothing except making up samples
nun preparing lor inn misiness. .Manu
facturers of shirtwaists stntc there Is
little domnnd except for Immediate re
(liilrements. Many of tho larger plants
are working oil short time.
"Wholesalers and jobbers of woolens
stnto there has been a considerable fall
ing off in business for tlie last few
months. There nre no orders being sold,
buying being only for immediate needs'
in n moderate way.
"The wholesale lenf tobacco business
Is ouiet. While n few Inquiries; are
mndo for good grades of old tobneco,
there are few sales leported. Old Penn
sylvania nnd Connecticut seem mostly
In demand, but high prices are main
tained and tho new crop is being sold nt
good figures. Other grades sold In small
quantified for immcdinte uses.
"The large cigar manufacturers report
n fnirly active business. Condition..
nre not nnrmnl nnd only n few factories
I nre working full caimcity.
I "Groceries are quiet. Canned corn,
'both spot and futures, nre llrin To-
mntnes are scarce, reas are also scarce,
pnitlciiliirl the liner grades. In can nod
goods no iiarticularc change Iiiin oc.
curred The demand Is not for spot
goods.
"Sugnr Is firmer Tho lowest price
for granulated Is $,".8.r), most refiners
quoting ?.").00. Raws are stronjer nnd
show an advance."
$100,000
Commonwealth of Pennsylvania
Thirty-Year 5 Bonds
Dated July 1, 1921 Due July lf j0J1
Principal and semi-annual interest payable January ami
July 1 at fiscal agency of Commonwealth in
City of Philadelphia.
Coupon bonds in denomination of $1,000. Registered Knn.
in denominations of $1,000, $5,000, $10,000, $25 000
$50,p00 and $100,000. Coupon and reels. ' '
tered bonds, interchangeable.
Free) from Pennsylvania Personal Proporty Tax
Exempt from All Federal Income Taxoa
Legal Investment for Savings Banks and Trust Funds
In Pennsylvania, New York, New Jersey, Mnasachu..
aetta, Cenneotiout and other states.
Net bonded debt, Including this issue, less than f
1 of assessed valuation, '
Price at Market
Harris, Forbes & Co
Pine Street, Corner William
NEW YORK
Widener Building. Philadelphia
j KCXMsSil .
s MMMdA
m . ' I ' ill ' "
i
A BANK that is not too large to give
personal attention to the merchant
or individual who is endeavoring to grov
from moderate beginnings. Total deposits
exceed twenty millions, yet a goodly number
of accounts average from $500 to $1,000.
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital $1,000,000 Surplus and Undivided Profits Earned $4,400,000
t
Do You Remember
Our advertisement on July 19th "7 STOCKS that should sell
LOWER." Every one is now down from 3 to 10 points. Thil
is typical of our "Service Supreme."
"UPS and DOWNS," the consensus of a multitude of opinion!,
which is only a part of this service, will be sent to you tree Xpr
a while.
Alan A. Alexander & Co.
STOCKS and BONDS
COLONIAL TRUST BLDG., PHILADELPHIA
Kry.l Rnee f)14Ai Drill Lorust ff! 10.1.3.3-1 nrunrh Dfflrr. llrlilcrton, N. t.
422
JTM
$25,000
St. Louis Southwestern
Railway Co.
First Mortgage 4 Bonds
Duo November 1989
Authoiized i
and Outstanding . . . $20,000,000 I
Estimated Property
Value 65,600,000
Equity .15,600,000
Estimated Earnings for Year
Ending December 31, 1921
Ilascd on Actual Returns to Date
On $19,893,650 5 N. C.
Preferred Stock 5.00
On $16,350,100 Common
Stock 2.79
PRICE, 70 and interest, to net 5.77
Normal 2 Tax not deducted
Harrison. Smith & Co. I
INVESTMENT SECURITIES
121 SOUTH 5TH STREET
PHILADELPHIA
LOMDARD 6100
' (Si Spruce 8200
LIBERTY BONDS
VICTORY NOTES
TREASURY NOTES
&
CERTIFICATES
sl'.tl niTIKh IlKPAUTMeM
COMMERCIAL TRUST
COMPANY
M.nilxr IVOcrril Keen -Jslnn
City Hall Square, Welt
Salesmen
Thero Ih no liuslneBH, In nur
opinion, that offers us many oppor
tunities for a permanent and protlt
Hblo nuslneBfl career as the sale of
msh-irrudfl Investment Honda Wi
lmv opcnlnRS for u few ceiitlemen
who cun prove to utt that they have
the necessary quallflcntlons, Ap
pllcatlona by letter only.
MACKIE, CROUSE CO.
Real Estate Trust Hldfj.
WE OFFER
an old-lins I' lull"'"1 """j
m a price to yield '3
nn old-line """ ""'"''"J
In fUe enrs nt I'rlce to 1"
r 1"' .1..
Until londs sro hi"" '
WioMtnBuxs.PmiDUfrt
tt.L.r.puiiiUtUe
4 t&Mt
L
Conservative Inve.tmr.nt Bond
Offoringj on Request
Schibener & Co.
lOppoilts lndsreridenco briuaraj
512-14 Walnut Street
Crnnhumll WkM & V
Certified (Public AccoujgJ
! Land Title Bldg., H-Wg?
H
( J'i O.
s.i5'
I
.
&&.
Lf- ' v'j fr V--yrs.i!t;iV; MAI.Iii .