,,. rk,n .. .1 ' 1 w.V"vii "r iwt'i'm WWT V IA' f ,- i, r," '! ,v'i .i ' 'fc. vv W , f' 'J . i nMANTIAT rnrflt WoroBAf.8 ronr8TAT.oNi8nu,u,,N08 OBTAnrTrF nTYi(TnANS,T MBT(nlh foor, 1211 Clirstnnt st. B rhllsdMphls. Atnrust 10, 1021. n'd proporal. addrsssert to the unOr; 2SA si th fflf a,,ova rhsntloned. will Z.tlitveA until 12 o'clock noon on August SS 'lMl? mi" onsnsd Immediately thsre. !?;, for th followlns work. npurlnint fl tha i Frnnkford Elevated ruflway. au thorled by ordinance of Councils of Juna 'v23s'tllon bulldlnitii nt Knslnton ave. . Huntingdon st. Contract M58. "nldi win bo received on Ausust HO. 1021. Pimblni Installation for ths station fcuWt"' ."'"."ffB01 V"- an1 "Un,'n, SldTVloi "erelved on Aueu.t SO. 1021. ?i?lr7f"l Installation for th station hulld. Injs " Kenelncton ave. and Huntingdon ''Bid.0 Wbe'e'celved on Ausust 80. inai. station platforms and paassKeg at Ken alnifon ve. and lluntfntdon at.. Con- ''nidi0 will be received on Aususl no. 1021. Feneln. concrete walla and coping, aide. alk pavnjr. curbing, acedlng and aoddlng r4 tree Visntlne around Drldge at. yard, Ktrsft BOD. . . . ... w" : -in . .iva nn Auvuft no. in?i. Mini wil, wo - -.'.: -. . - :. ----.- 1 lane and spscincatinns ran ue seen ai H Cheetnut at., twelfth floor, and copies J? "ame with blank form, for propose w K supplied to intending blddera upon apnll. Kuan A depos t of J10 will be required SJ.th. Bin ni for the station buildings, the Itltlon pValforms and fencing, walla, etc. rJniractora w II ba required, to comply wlfh the Act of Aieembfy of July 1R. 1017. r.lYllve to workmen's compensation Insur. In and proof must bs furnished ths de Sartfnent by each contractor that he hai J?pted the provision; of said act and In; Kfed his liability thereunder or secured "ffl?,.hbl"ftha't,s over $500 a proposal tJid In the sum of five hundred (ftOOi dmian ?.i be Sled in the Law Department. Room ?nn City Ha", "i aceordanco with thj i?Ansnf of May 28. 1B00. the certlncate ol Su?h m'n to be Inclo.ed with the bid. The Director reserves the right to reject ,.i or all bids aaho may deem best for ik. Intereit or Tne Lliv Di c-niinupirnin. the Interest ojj, 8, TWININO. Director. .. .onicimnO BTATE HOSriTAI, "'" August 15. 1021. Rnaled oropoiala will be received by the n.rd of Trustees of tha Harrlsburg State KiSltal at Harrleburir. Pa., until 12 S?lock noon. September 8. 1021, for altera .iiVnf Boiler llousa furnishing Installation nS erection of Hollfra. Orates Jfchanlcnl tiiit and Automatlo Control, also for rwtrlc Wiring of Building, all on grounds !' ih mid hoepltal In accordance with draw. . and apeclficatlons, copies of which may L. seen t the hospital. The Hoard of rnisteee of seld hospital reserves the right relect any and all bids. ,0A' certified check of B of the amount the bid must accompany each proposal, ,n 13. M. ORKBN, Superintendent. "ToMMONVRALTII OF rNN8VI,VANlA Ewartment of Agriculture. Ilorrlaburg, Fa. Waled proposals will bo received at the efflce of the Secretary of Ayrloulture In the State Capitol until 10 A. M.. September 1. fl lien bids will to publloly opened and iVheSultd and contract awarded as soon thVreafter aa possible for tha following ,Uirproilmely 400,000 Individual dog llMnM cheek tags, coin stamped! appro. lir.Iu. an 000 kennel dog license chock tags. ifladlng blanks and specifications may be Hi itSineu ire? Ufm HfinunMun I'm uaur rr of Asrleulturs. Harrlsburg. Ta. Secretary of Agriculture. ffrATINNY AnRKNAI.. llOVEIt. N. .1.. August IB, 1021. Pealed proposnla In Irinllcato will b rerelved until one o'clnek P M Standard Time. August 30. 1021. fo'r constructlne about twn mllea of con crete road. Tor Information and forms unnlr to Commanding pmeer, CEALKD PROPOSALS "ILL HE OPKNKD b the Supt. of Lighthouses. Haltlmore. Md,. 2 P. SI. Sept. rt. 1021. for docklnp. cleaning, painting etc.. United State? liBht vtea'l N. 'a Information on application. tlUldenda American Tclophonc & Telegraph Co. 128TH niVIDF.ND A quarterly dividend of Two Dollars nnd T-entv-fle Cents rr t'3r will be paifl on Saturday. October IS. 1D21. to stockholders of retnrd at the rto of business on Tues day. Septcmbor 20. 1021. H. riLAin-SMITH. Treasuror. , Phllade'phla, Ta.. August 17. The Directors of Wilmington (ins Company have this date declared a regular eoml annuel dividend of three per cent ($3,00 per share) on the Preferred Stock of the Com rany outstanding, paabls September 1, 1021, to holders of said stock of record at the cln nf business August 20. 1021. Rooks will b closed from August 20. 1021, at 12 o'clock M to September 1, 1021, at 1U odou A SI. I hecks v.1'1 bp mailed. C. H. WEAK. Secretary. Traders ore making use of our Customers' Board-Room Telephone Service Correspondence Dept. to keep informed on stocks in tvhich they are interested' Our Brokerage facilities are at your disposal. Well-posted represen tatives -will assist you. Get: Useful little booklet for quick rending. "Traders Handbook," covering the important points a trader should know may be had on request. Art- for TU-iS0 PHILADELPHIA OFFICE W1DEHER BUILDINO Telephones! Bell, Locust 4780 Keystone. Race 6891 BALTIMORE, OFFICE 3 EQUITABLE BUILDING Telephone! St. Paul 8151 Direct Private Wires New York Chicago Boeton Philadelphia, Pittsburgh Detroit Daltlmora Cleveland Jones & Baker WttuW A'w York Curb Mark$t CORRESPONDENT ?loi?.",i :ln"V",,,ln "?""' ' "nones In lal.ffhX "m"1". s0 Position with Jn.5. p.f "JPCB 0( well-established and tZ.T n" iitw Y?r,k Mocl brokerage s?atiIiien'.,'ihurVu,Jlr "fiualnted with bu.if.U' i'd 2f lho s,oc1' brokerage uuiluess and whoss expeilcnco In this Ion ,d,e.If.nJB h,i -ITlMnJ' for "the po.! PiJri. ri'ii?. ,Nu,"'hers need apply. ery fscl.lty li ulOre tu assist him In produclns remits Stnto age e"p?rlen'o ?lrh. m1.""' '.I".,,,r'" (iooJ PO'ltlu" fo? HUH m, Addrt-ns II -in. i.'eJsur Office. RSftU'8 l Kifff Vi"" R S!l.K, PHILLIPS &C0.' , n ciii:sTxraTTK'ii,rrrK. ilJlV-'X?" C. S. PATTON &COT m K CHWiTNUT HTH. BANKERS .....'?.'! Vors tn I'onAs nnd Ktntks l.nn.ln i.n.i ..is .Members, Pilav Stock l',rliioc H.L SMITHS Co. INVESTMENT SECURITIES 1009 k"J Till Bldty Sprue. 6721-2. U. 8. Certificates and Treaaury Notes I Ml. Halo Maturity I'M fent.. 102 1.'. .100 inn 8-32 4.26 i:, sept., 1021. O'i Oct., 1021. '' Cct., inai.. 'I.ii V"!- mat.. oV4 Feb.. 1022.. t'OJi Mch.. 1022. jj4 Mrh., 1022. Tfi4 June, 1022 t'lUk Aug.. 1022. IOO 1-32 100V4 4.30 ...100,', . 1O0H ...loov . 100 .. .100H .'i10. 4.2ft 4,10 4.40 4. Oil 10014 loov. 100 A iooU 100 ij 0,00 n.oo n.iH n,22 ,10-OH .iooh t'OH June, 1024. muvi joofi o- june, inz4 100H 1004 0,38 Lxempt from normst Federal Income tax. TACceDtanlA rnr nnvm.nt nf inMA.HA m due on date of maturity. Reserve Banks' Discount Rates Official rediscount rates at the twelve Fed eral Deserve Hanks ara as follows: Tress. Lib. Com'l Dkra. n., e"iL uonSfr T!Tf ACR- New York Philadelphia .,, Clo eland ...... Itlchmorrl Atlanta Chicago Ht. Ixiul Minneapolis .... Kansas City , , . . Dalla Ban Francisco,, Railroad Bonds Foreign Govt Bonds Public Utility Bonds Short Term Notes All Issues Private wires to principal cities A. A. Housman & Co. f New York Slock Exoh. New York Cotton Kch. New Orleans Cotton Kx. N.Y. Coffee & Sugar Rx. New York Produce Ex. Chicago Hoard of Trade Associate Members of Liverpool Cotton Ass'n. Members "S 20 Broad Street, New York IIRANOII OFFICES 25 West 38(1 Street. New York L'hertr llni'dlng. Philadelphia Woodward Building, Washington Amsterdam, Holland NOTICE TO STOCKHOLDERS VICTORY DIVIDi: MINING COMPANY Certiorates of stock of the Victory llde Mining Company nre exchangeable for stock of the teorgnnlzed Victory Divide Mining Company on the basis of share for share, together with the pajment of an assessment of one cant (Ic) per share, whlrti was levied upon the stock of the new company. Cer tlOcates of stock together with amount of assessment must be sent to the office of the company st (1'ildfleld. Nev., on or before September 8, 1021. All stock remaining de linquent on that date will bo solil at public auction on October 8, 1021, to pay delin quent assessment and costs. REORGANIZED VICTORY DIVIDE MINING COMPANY HARRY II RUHU Secretary Fhila. Sub. Gas & ElcC. 5s, 19G0 Newark Pass. Rwy. is, 1930 American Gas 7s, 1928 Empire Gas & Fuel 6s, 1926 HENRY D. B0ENNING & CO. STOCK KXC1IANGE RUII.DINO Direct Private Telephone to New York Members Phllii. Stock Exrhangf Conservative Investment Bond Offeringa on Request SCHIBENER & CO. (Opposlt Independence ,1'iuare) 512-14 Wnlnut Street Opportunity Philadelphia company needs lomporary loan, $10,000. Can furnish ample secur ity. Will pay fair bonus. Investigation Invited. n 410, IXDOElt OFPICK BW 0W BW R 88 88 58 o o n o noon ft4 0K M M4 n n n a(Z ni4 n n(i o" o o n r,y, o., ono bW sh '4 oh San Diego and Arizona Railway Company Guaranteed Non-Callable Equipment Trust Certificates Fifteen-Year 62 Series "A" Due July 15, 1936 (TO BE ISSUED UNDER PHILADELPHIA PLAN) Dividends payable semi-annually June 15 nnd December 15 In San Francisco or New York. Certificates in coupon form In denomin ations of $1000 and 8500, registrable ns to principal only. Dividends payable without deduction for Federal Income Taxes now or hereafter deductible nt the source not in excess of 2. GUARANTEED BY SOUTHERN PACIFIC COMPANY SECURITY This issue of $600,000 par value of Certifi cates is specifically secured by title to standard railroad equipment valued at $873,000 a ratio of over $100 of equipment for each $70 of Certificates issued. Full title to this equipment will be vested in the Anglo California Trust Company of San Francisco, Trustee, for the benefit of the Certificate holders and the San Diego and Arizona Railway Company will lease the equipment during the life of the Certificates. SINKING FUND These Certificates will not be callable before maturity, but beginning June 15, 1924, a sinking fund sufficient to retire the entire issue at par by maturity will be paid to the Trustee in annual installments as follows: $30,000 annually June 15, 1924-29 $60,000 annually June 15, 1930-36 Total $600,000 This sinking fund will be used to purchase Certificates in the market up to 100 and interest. In the event Certifi WE RECOMMEND THESE CERTIFICATES FOR INVESTMENT Price 99 and Interest to Yield about 660 Ctrttfcatcs are offtred i. oi and when issued and received by us. subject to final authorization rv the Railroad Commission of the State of California and the Interstate Commerce Commission and to the approval of our attorneys. Alt ststemtntj herein are official, or are based on Information which we re sard at reliable and while we do not sruarantre them, they ate the dau upon which e hare acted in the purchase of this security. CHICAGO - NEW YORK evtnin& public NEW YORK (SALES IN 11000 Am AST A Oh 74s rets 1 05 Amn T 4 T cit 2 80 Amn T4T8I 1 SAVi 1 SOU c n i a r f d Qove't French 2 08 C 11 1 A P 4s 1 71 8 71U Chile Cnp'r 7s 2 03 Chinese Qove't Hu-K nty Es 1 47 City of Bercen 8s rets 2 00 1 OO'l City Berne 8s 5 HUH Cty Chrls'a 8e 1 00V4 2 09 H City of Copen hagen SVis 0 78U 1 78H 2 78V4 5 70 8 78S City Paris 0s 1.... 00.15 1 00 City Zurich 8i '2 00 Cl'd Cln Chi A St Louis Qs 1 801 Colo A S 44s 1 70 Cons'd Oaa 7s 1.... 101 Cuban A S 8s 11 7a rets 3... BBH 05 05 08 05 IB... 1.. 1.. 1., 1.. 1.. 2.. 3.. 3.. 7.. r... 1.. 6.. 1.. IB.. 4.. 3.. B0.. 41.. 05 05 on 05 05 r5?i 05 05 05 05 00 00 00 08 00 00 00 lift 00 Amn T A T 0s R.... 100 1 flflX 8.... 100 1.... 100 4.... 100 2.... 100 Am'n W r 0s 1 70 A T A S F al 1 71 A T A 8 Fe Is 25 T7H 1 77U A Transcontl'l Short U 4 s 7 75H Atla. KsCli 1 73V4 IB.. 0.. OS 00 00 A Coast I, clt 2.. 8 72 2 78 5.. Qove't F n 8s 2 00 1.... 100 1.... 100 2.... 100 2.... 100 2.... 100 A Coast I 7s 8.... 102 1.... 102 20.... 102H 1.... 10214 2.... 102V4 1.... 102W All's Fruit 7s 1 83 Atlas I'wdr Co 7W wl 2 00H 2 00 Bait A Ohio cv Qd Trunk rets 1.... 102 O Nth rtwy 7 2 1 4 Cuban C 25 00H 00 00 Tt B cv 01 1.. 7.. 1.. 0.. 2.. 1.. 25.. O 1.. 2.. 2.. 100 100 100 100 100 100 100 100 100 100 100 2A. 2. 1. 25. 1. 1. C0H 00 now oo w 60 H 70 0H 1.. A.. 28.. 3.. 1.. 1.. , . 00 , . 01 , . 01 ,. 01 , . 01 , . cm , . 01 1.. 4. 2.... 100 Hud A Man fd 1 07 Hud Man In 11 ..' 42 3.. .. 42 5... . 42 0 .... 42 10 42 III Central fd 0 70 B... . 70 III Cent't 5s 1 .... 01 III CentM rts 2. .. 100 a.... ioo Dalt A Ohio 4s Del A Hud fd 23 00U 12 70 1 70 Del A Hud 7s 2.... 104 Denmark Con ct B 8s 2.... 100 1.... 10OS Den A n (1 fd 4 45 3 4r., D A It U 4 2 00 2 09 Dot Edl Be '4U 2 70 Det Kdl Co As B 88 2 88 Det Tun'l 4s 2 78 50 .... 78 D Match 7s 1.... 108 Do Canada '20 C 02 Do Canada '20 1 03 S 03 Do Canada '31 1 00 2 00 D De Nemours Pwd'r 7 Bait A Ohio 5s 1 71'4 Bait A Ohio fls 1 00 Vt Bell Telephone of ra 7a 2. .. 104 Beth S 5s "80 S "8 Bkn Udl Co le 1 004 Bkn Edl I) 7a 1 00 1 00 Ilrkyn ItTln 1 22V4 III C St L A N O Jt Bds fls 2 83 Int M ct 4s 1 ... 12 3 . . 13 3 . . . 13 2 .. 12 Intb'o R T fd 1 .. . Bfl 1.. .50 I M Marine 0a 1 .... 77 Jap Govt 2ds 1. ... 80 Jap Gov'nt 4a 1 71 Kan C A S 3s r . . 50 4 57 Kelly Sprlne'd Tire Co 8 3 .. 0,1' 2 05 K HelKlum t.i n 04 14 04 1 04 1 04 5 .... 04 K Belit'in 7s 1.... 102 5. .. 102 3 101 2 . . . 101 1 101 1.... 101 K Belf'm rets 2.... 100 1.... 101 2.... 101 1.... 101 2.... 100 Klnndnm Den. mark ct 8s 1. . 101 1 ... 101 1.. . 101 K'm Italy 0 ..2 88 2 .. 88 Klnndom Nor way ct 8s 1.... 103 2 103 K Sweden 0s 13 86 Canad'n Nth'n 6 '-in rcta 1 on 2 00 r. 00 2 B Cnnadt'n N 7s 0.... 108W 1 ... 102 Cen of Oa on 1 -88tt 1 88V4 Cen'l of Ga fls 1 80 Ctl Leather Be 1 88 Cenl Pa? 3Vje I 80 C i. Ohio 4Hs 2:.... 70 12 70 C A O ev 4V4s 8 70H 10 .... 70H .. .. 7ft 1. ... 70V. 1 .. . 70W C"k A O cv 5s 1 .... 81H 1 .... 82 Chi A Alton 8s 4 45U Chi A Alt 3 '4 s 1.. .. 3ft4 C B A Q 0l4s 1 07 1.. B.. 8.. o C..' 8.. 24.. 07 07 07 07 07 07 07 07 8.. .. 07 2 07 ,... . 07 4 07t, 3.... 07 Duq Llaht lis 2 .... 0'1 Crle Qenl Lien 3 42 2 42 Krle R P. cv A 1 30 Erie XI n cv D 2 42 1. a. 11. 1 4. 1. 1. iniu lOiu iom 101 4 101U 101H 10HI Brie By Co 4s 2.1 65 1. 10 Hi Erie V. ra 4s Chi A a W 4 1 73 1 51 w 3.. .. r.m Freem't Hlk'n Vo Val 7s 7 101 Oene'l Hlec 6 3 100 Ooodyear Tire A Rub'r 8s 2 101 25 101 1.... 101 Chlcato Mil A Stl' cv 4i,a t ... 0.1 8 05 1 .. . 0.1 Chicago Mil A St P cv fls 8 07 1 08 HALSEY, STUART & CO, INCORPORATED LAND TITLE BUILDING, PHILADELPHIA Telephone Locust 4820 PHILADELPHIA - BOSTON iledgerphiladelphia, Thursday BOND SALES I, A Myers Bs 2 85 Lou A Nash 4s 5 82 25 82 Manhat H'd 4s 1 50 18 B 11 85. Man B 4a sta 6 50 2 6ft 1 60 Mkt Bt Rr 1st 1 00 Mtn Bt P A S Hie M 4a 1 80 Mo IC A T 4s A 80 Mo Pacific 4s 1 68 2 68 8..... 68 Penna Rd 8s So'n PaclAo fd 3 10 So'n Pacific 4a 8 So'n Pao cv 4s 1 81 6 83 1 82 1 82 J 81 South'n Rlr 4s l.... 67 South'n Rlr Bs 2 84 8 84 2. 00 00 4. 2 .. 2.. 8... 1... n i!!i 4... 2... 1... 00 00 00 00 00 60 00 00 00 00 1. Penna R R 7s 1.... 103 Peoples Qaa L A C Co Bs 1 74 Phlla Cnty cv 4 00 l.. . on 2 00 Stan Q A B fls 1 84V4 titand'd Oil of Calif 71 1.... 103 2.,.. 103 Swltz'd Con 8s 3.... 10ft 1.... 100 1.... 100 Union Pao 4s 0 81 4 81 11 81 14 81 Union Tac As 1.... 100 5 00 U K of O Brit A I'd 1021 1 60 VKotO Brit A I'd 1052 2.... 08.13 2 08 2.... 08.11 1 08 U K of O Brit A I'd 1020 12 80 B 80 1 89 U Kof O Brl' A I'd 1037 2 87 U S Brazil 8s 2 00 B 00 2 00 1 00 U R Msxlcn 6s 1.... 45 U S Rubb'r 5s 1 78 4 .... 78 2 78 U 8 Rub 7 '4 s 1.... 100 0 ... 100 2.... 100 U'd S Steel Bs 2 04 2 04 1 04 1 .... 04 Va-C Ch 7s 1 01 1 01 Va Rwy's 5s B 83 West'n Md 4 4 .... 68 1.. .. 53 2 ... 64 West'n Md .Is 1 .. 07 Wn Paclflo 1st 0 ... 70 W U II s wi Pitt Cln Chi A St L a 4s 1 85 tj Mo Pac Bs 20 1 84 Ment'a Pwr 5i 23 i-3 neadlnat Co 4s 8 76 4 75 6 70 1 7A N Or'a A T 4s A 04 New Or Tei A Mexico Oi 8 02 N T Cent'I 4s 6 78 N Y Ctl ne 4s 1 40 N T Cent'I fls 7 02 2 02 B 02 A 02 1 02 New T N If A H 4s of '94 1 88 1 30 New Y N II A Hartrd 0s 1 68 7 68 2 58 New York O A IVesl'n 4s 2 no N Yk Rwys Bs 4 5 N York Suscju A W'n urn 1 43 1 45 N T Tele 4s 2 82 1 82 N'k A W cv fls 4.... 102 North We'll U Tele's 7 2.... 103 1.... 103 1.... 103 1.... 103 3.... 103 1.... 103 K Pacific II 4 30. ... 70 5 7A 4 7A 1 70 Oregon a L 4e 0 82 Orer-Wn R C Navl Co 4s B. ... 71 1 71 2 71 2 72 Pac O A B Bs 4 78 Tso T A T Bs 1 85 Packard Motor Car Co 8" 2 05 Pa IIH CMHi 4 80 Pa K sm 4 4 1 70 1 70 Penn R It fi 2. ... 87 1 87 Rep Chile rcte 2.. 08 B.. ft.. A.. 1 . 2 . 6.. 1.. 08 1)8 08 08 08 08 08 08 1.. Rep'o C 51 '04 0 78 tlep'e of Uru guay 8s wl 5 08 1 08 3 08 2 08 Rio Grande A W'n elt 4s 1 B2 1 62 Rock Il'd A A Loul'a 4s 1 A7' 4 t!7 3 flfl 5.. .. 00 St I, I'n Mt A 8'n Illy 4s 2 73 1 72 St L A 8 F nj 0.. 1.. 1.. 1.. 1.. 08 08 08 08 08 0S 1. St L A S F In 2 67 2 no 1 57 1 57 1 B7 3t LAS Fran Series A 3 f.1 1 (11 4 01 St Ij A 8 Fran Series D 2 74 St L Sow'n en 3.. 3.. StV I.. ...04 . .. 04 . . . 0.1 Sw'n 1st . .. 117 . .. A7 1 00 3 . 1 . 3... 0 . . 0.. . 1 .. 12 . v"a k , . on . on , . 00 . 00 . 00 ,. 00 . 00 . 00 Mfir 7i , 101 , 101 101 101 23. Sao Paulo of Brazil ct 8s 8 07 1 07 4 07 Seab'd A L oj B 27 Sinclair C Oil l.. Corp'n 7a 1 01 1 nl 3 01 W-B A K'n 1st 1 .... 52 .Vllsun Co cv I . . . 82 1 :30 P. M. 88.00 87.80 87.00 87.81 01. OS 88.00 0S.74 IllRll Liberty 3ViS 8S.70' Liberty 1st 4s... 87.SO Liberty 1st 44s. 88.00 Liberty 2d 4'4k.. 87.80 Liberty 3d 44. . 02.00 Liberty 4th 4V48. 88.04 Vic Notes 494s... 08.78 Low 88.0(5 87.80 87.02 87.80 01.00 87.0S 08.74 DIVIDENDS DECLARED TVIItrrlneton Qua C'ompanv sml-annual .1 per cent on preferred, payable Bptember 1 to stork of record August 20 Dominion Iron and Pteel Compatv, quar teily 1 per cent on preferred. pnable Oc tober 1 to stock of record September 20, Cities SerWce Company, monthly pr cent on common, preferred and preference II. payable In scrip, and monthly 1 per cent on common, payable In1 common stock scrip, all payable October 1, 1021. to stock of record September 1.1. 1021 cates cannot be acquired at this price, the cash must be immediately invested in securities legal for California, New York or Massachusetts Savings Banks and held by the Trustee as additional collateral security for this issue SYSTEM The San Diego and Arizona Railway Com pany, one of the feeder lines of the Southern Pacific Company, owns and operates a standard gauge steam railroad connecting San Diego with El Centro, California. By means of this connection San Diego is given a direct outlet East over the Sunset Lines of the Southern Pa cific Company and El Centro and other Imperial Valley shipping points are brought in direct communication with San Diego and its deep water harbor. The owner ship of its stock is divided equally between the Southern Pacific Company and J . D. and A. B. Sprcckcls Securities Company who jointly and severally guarantee uncondi tionally the principal, dividends and sinking fund pa ments on these Equipment Trust Certificates. The Southern Pacific Company owns $8,211,000 of the Com pany's total outstanding bonded debt of $10,500,000. DETROIT - MILWAUKEE - ST. GOSSIP OF THE STREET Misery likes company. A jtrcnt deal of criticism hn been directed rtgnlntt both banking Interests nnd the inrgc exporting firms for permitting tlielr affairs to be so tightly tied up as n result of the effort to monopolize the. South nnd Central American buslne. Acordlng to a letter received todny from (he London correspondents of one of the international hanking houses, the Englishmen nre about In the same uncomfortable position. This authority stated the decline in commodity nnd manufactured prices had been so rapid nnd so far reachlnj? ns to make it Im possible to adjust the foreign exchange operations to meet the rapidly chang ing conditions. In consequence, some of the very shrewdest exporting linns and others, thoroughly famlllnr with the Bouth American trade, find them selves In virtually the Hnme position as that which produced so much worry and confusion In this country. While this Is somewhat cold comfort, a great many of the banking Interests who were directly or Indirectly asso ciated with the operations which re sulted in almost upsetting the credit machinery, feel their judgment was not quite so bad nftcr all. If the English men with their long years of experlenc mnde the same mlstnkes, there Is some cxcum; for our poor judgment. Pays to Bo Slow Dlscuwing the unsettled banking situation In New Tork, the president of one of the lnrgcr Institutions yester day nsserted the policy of n number of the influential local financial concerns was repeatedly criticized by New Yorkers, "They have continually poked fun at our slowness and ultra-conservatism, but the eents of the last eight months have demonstrated it pays to bo slow. From my observation, most of the bank ing institutions in the metropolis trj to do too much, nnd hnvo allowed themselves to get beyond the lines of banking business. The man lias not been bom who can successfully run two different machines with the one. hand without eventually getting Into trouble. It is probably n case of n bad muddle rather than serious trouble over the Hudson Uivcr. Some nlarm Ing reports have come to my ears re cently. Most of them were Immediately dismissed, for 1 am in position to know the real trouble was cleared up many weeks ago. Like every other big mes of things, there Is always n whole lot of small but irritating details to be worked out. That is about the situa tion now." LnUe Superior Bond Interest Passed Some surprise was expressed In local financial circles yesterday by the nn -nouncement of the decision of the direc tors of the Lake Superior Corporation not to pay the 5 per cent on the in come bonds due October 1 . This is the first time in four years the interest will not be paid. The disappointment was somewhat intensified by reason of the fact of recent Intimations that the financial condition of the company prac tically nsHiircd the continunncc of the bond interest. According to the report Issued jester day, the earnings of the Algoma Steel Corporation, which is about the only real producer of the corporation, wore (.uflicient to meet the fixed charge, but no income was made available by it for the payment. The company. It was stated, needed nil the funds for work ing capital it could retain nt this time. It was further stated that raw mate rials and other inventories hnve been marked down to cost and depreciation charges were cared for. Steel tonnage for the year was good, but like other steel companies the financial results were affected by inventory readjust incuts, which was to he expected. Some recent stories put out told quite a different tale. More Pig Iron Btijlng In the weekly review of the iron and steel Industry, the Iron Age &ays: "Recent low dip In pig iron prices led to buying on scale probably not equaled in yeur nnd producers of LOUIS - MINNEAPOLIS august' is, 1921 foundry iron In nil districts shared In bUBlllPM. "In pnnt wcrk furnaces nt Chicago, Ht. IjoiiIb, UtifTnlo nntl In Ohio and 1'eniiMjlvnnla districts hnvc ndvnnced iirlrcs Jf2 a ton In nn effort to limit lofccs they hnvc been making on raw materials bought last year. "Situation In finished utee! differs from that in pip Iron. Steel works nre being run and none is dropping out of race. "Jluyers do not believe low point has been touched nnd nre working cIom on stocks. Ford Motor Compnny In keen ing ns far ns one month nhend of mills is an exception. "Wire products nre ns firmly held ns any finished line, more firmly thnn leading heavy products. New business Is coming fo some Important producers at up to about HO per cent of capacity, with Indentions flint Mocks are small nil ntons the line. "New enr work nnd rnr repairs nre bringing further orders to mills, but not to extent producers have been led to expect. "Some fair orders have been taken for tin plnte recently, chiefly from oil compnnles, one Inrte lnteret In this line buying over 30(10 tons. Ilasie pig Iron figured In Increased activity In Eastern Pennsylvania nmrket, rnnglnif from 511 to SM.fiO delivered. In Centrnl Wct steel companies have nd vnnced to ?20 nt fiirnnce, or .51.50 to $2 nhove recent prices." Tceltnicnl Rally Duo Technically, the stock market was be lieved to hnve been In a stronger posi tion at the dose of business yesterday thnn at any time since the downward movement began and nttention was called to the large number of lilies which were cither lonnlng flat or nt n premium. Therefore. It wai felt that n rnlly might take place In the near fu ture, but the majority of stock market authorities were of the opinion that it would be little more than n rally and that jiricrn would not. hold such gains ns might bi recorded on such nn up ward movement because of the Im-k of Initiative on the part of the public ns n market fuctor. THE TRADER. Cities Service Earnings Tl - fjtlps Service f'nntpanv rports Hint Its net pynlnKs f mm Its nuhlli- utilities properties In July showed n substsntMl increase com pnrrcl with Its June profits nnd . Inrg-e In creMn compared with those, of July 1020. Although IM drllllne operations were re stride. ns much ns possible Its petroleum production was maintained nt h dally oer site ot npproxlmntely 33.000 barrels In July Its Kross oarnlnun amounted to $008,871 nnd Its net Incomo to $464 002 The reces sion of general business thin summer vi. dently Is reflected In the month's results, ns the company's axerace monthly uross Income In the elexen months end"d with June was 91, 018. 881 Jn the twelve months ended with July Its net revenue BNnllnble for Its ntoclt was JIB, 87,033. The company has declared Its usual monthly dlvldeudR In scrip, alt Its dlt Mends belnu payable on O--tuber 1 to Its sharhnljerg of record on September 1.1 Raw Sugar Market Quiet New York. Aus 18 The raw aunar nrar Kt Is quiet The onlv sale reported es terday was a lot of 800 tons Ht. Crols. In port, to Arbuckln Brothers on the basis of t flic, c I. f Importations Included 23. ODD bags Cubas to the American Hunar ItsHnlrri Company. OOOO bans Cuban nnd 30,0M) bans I'orto Ulcus to the Federal Sucar Iteflulnz Company, .1000 ha-s I'oito Illcos to the National Sugar Refining Company: 400 bini St Croix to Arbuckle Brothers and1 3'JO baas Cubas connlnned to an Importer The locsl refined market remains unchanged nt pricei ranslnic from 0c to 0 13c. ns 2 ier cent for cash. Bank of England Statement Ix)ndnn. Auy. 18 - -The woeklv statement of the Hank or Knirlnnd sh nvs the following changes In pounds Total reserve Increased. 1 S.'.H.UOO circulation decreased. 1.320.UOII, bullion Increased. 20 100 other securities de. creased. 1.. 182,000, other deposits Increased. 8.350,000. public deposits decreased. 1173,000, notes rcne Increase,, l, 340.000 (.ioieni ment securities Increased 7.02.1,000. The proportion ot the bank s reserve to liability is n , per cent, last ween u was n.oi 14 ' Rate of discount. nH per cent THE DAILY NOVELETTE An Epidemic .v MARTHA .MrCl'LIjOCir-WILLIAMS "How di I (lint happen in the fnv of civilization?" Rnsil asked under bin breath, iioildiuR faintly toward Mi Joslin. Edna smiled lazilj. answering In his Knj : "It did not 'hnppen' no reflection here on divine Providtnre." "Then liot " Unsil began. Edna interrupted : "What ou vcp is like n ChristmuH tree the ultimate of nccrction. .loslindu puts thing'', more thiiiK", other things, on and on and on, till there isn't room for an other. Rear witness her hair. 'Even bit natural,' she snjs and truly. You can all but reckon her age by the vary ing color? of her switches, transforma tions and so on." "Cat!" UtsII commented sevciely. I but undid the severity by n giggle, j then ran on : "I mut-t hnve a close-up of cours". tou'll present me." "Couldn't help it if I tried hard." I Edna flung back. "And you know 1 I wouldn t try. Home is like the law all men and women asked to it nre for the time being equal. Understand I'm not making fun of Josliudii, merely explaining her." "Pity she can't see she makes fun of herself." Basil said, eyeing nnrrowb a rawboned outline, tall and broad, yet lank, without n softening curve, clothed in loud plaid blue silk, low-cur, with elbow sleeves and falriv bristling back and front with tag ends of rib bon, ruffles, bends and frlnce. thpi-phv doing diM-ndit to some really fine luce. A scarlet uepe shawl, richly embroid ered, was drupeil frim the shoulders to fall over a soiled train. It hnlf ambushel the bertha of rusn point which was caught in a huddle at the middle with it cameo brooch three luetics aero.-". Cilrlish strand- of coial hugged the lean throat, topping u string of gold heads, below which rati a thin gold chain with a single big diamond as pendant. Mnnv manners of bracelets, mostly cheap and uglj , half oovercd tho lean forearms, but did not unite reach the single button gloe.. Noting all which Edna breathed in Basil's ear: "All her licirlo miis but two -grandma's gold snuffbox and grandpa's sil ver punchbowl I look to sec tliut some lime instead of a h.vt .loslimhi mj.v-. she docs o like to be individual in dross." "Must be rich," Ilasll commented. "Has been, jou mean." IMn.i re turned. "I laugh at her because I can't help it but inside I'm sorry ns can be she so craves the fine things she feels herself to hae been born to gets herself up this wn) as a sort of defiance of Fate." "It Is right down pitiful If ou look under the surface," Basil answered, riving with her Two minuter, later he was slinking hands with Joslinda who bade him call her bv that name -"same as my other friends." She was fear fully nnd wonderfullv made up rouged almost to the ees whitened hejond nnv sepulchet, scented of lmende'r, cheap essence nnd moth balls. "Von better take care- Neddy is the baddest of all us girls," she nld arelilv, glancing at Edna. "She looks love nt everybody. Don't you never hellce her oj .'" "Thanky ma'am for telling me now I shan't have It on my conscience that she Is breaking her heart for me," Bnsil answered with his most ol(mn accent. "You had better tell Brother N'Immi, too. Unless jou do, 1 fenr he'll l,c running awa from his conquest b fore he Is half through converting all u, sinners." "She she- can't Im trying- well' A flirt will tiy nnwhlng," .loslhidn nld ncridl). "You'd think she'd let alone a poor widower- with two children nl tuoNt babies, in fact " "You know men are often 'i might in the icbound ' You seem to mi the wi moral of a preacher's wife-mnjbc If i mi hadn't been so high with Mm'-- " Basil paused signlficantl) , then Impped shamed ejes us he saw tho Hush that spread over ueck nnd forehead, deHtilie the whlteulng. Ilia chanco ehot had told bit the white Indeed. Josllnd.-i wallowed hard, then blurted out: "WTinf makjA vnii lhv Hint? Anvhndf tell yon anything? I I never dreamed iicm. Ilut I do wish you'd tell him." "Whnt?" Ilasll asked very low. "The-thn truth," .Tosllnda answered '"B ?.T, Ufl'U Blnn,cy "'" '."" "" ' ns low. "You know about me nnd he epithet, you and Neddy. You're tho fine for , Then they drifted npnrt, each doing herI've known It ever ho long my hospitable duty, but an hour WMf, caution was all In fun. And you can tamo happily together just as .losllnda tell him. too' I won't mind dressing nnd her captive came from their cut plain. I know whnt Scripture says tailed ambush, beaming, walking W about gold nnd costly npparel. I'll sell though on nlr, so manifestly blissful a all tho hen house. I've been told they wit faring man might .ee. are worth enough money to clear off "I wonder who proposed Edna my mortgage but you see, a girl has naked nslde. . to look well unless she wnnta to bo an ,,I'nr'iV' , 'rn. ''" ?. ." 177,' i,i ,nnj " whisker. Ilasll whispered: "He wa ok innitj. gtrm) whcn , nkc(, hm b)B n "Of fourse." Ilasll returned, chuck-' t,.lltonHt0f, him It had been told ma Hngly. .losllnda was obviously beyond t,mt ,lp wn8 maUlng nv(i to .Tosllnda midd e age. Stl 1 ; he owed her an enorm- ,voudpr considering whnt h waa oils debl of gratlttid'. If she did know i , elf rcaliz(.j that so unleM ha ndna's heart If she had spoken even Prions he stopped me there with half truth, he would take heart to pro- bronlhIoss grin. nnd gasped: 'D'ya pose to his dear for the magic seventh r(,ay rPCij0nhe'd look nt me?' An; "mc' swered that as man to man, she wlght-rr! In the joyous relief of that under- htlll 1 had some advantage not bavin", standing he was ready for an) thing, hern mnrried. He grinned again: Nixon, the evangelist, was a line, -We'll see.' You know the rest which genial fellow, younger possibly thnn Hi t nppears, bliss." Josllndn. but greatlv In need of a wife. "Denr me! How romantic!" Edna Her plantation, mortgage free, would I flting back saucily : "Still I can't quite be a lino haven, whence he could sally pardon vou for destroying my ideal of to fight the world, the flesh and the .constancy. Last time we tnlked of wed devil. Joslinda, minus heirloom"., In 'dingH and rings and things, you ended clean, crisp cotton frock, would be I t)V vowing vou would die n bachnior." comforting If not highly decorative., " "That was because I thought I ahould Then there were the babies bow she never live to be married." HiihII quoted J would cherish and spoil them ! Tor "ijut remember that was because also them. If nothing else, the thing must go vr)U !,! you wouldn't hnve me said through. i it in all the moods nnd tenses." Hecntise this was n sit-down party, I "Joslinda has been vowing the same not n dancing one. the minister hnd I this ten years." Kdnn murmured softly : come to It. A whispered conference "Unt look at her now?" with ICdna, and It was no trick nt all to "Instead look nt me now. And tell anchor him safely beside Joslinda, in jw the change of mind is epidemic." the seclusion of tho bay window. "I Hnsil said possessing himself master meant to use that myrclf," HaslI snid. 'fully of her band. POWER To Haul On Any Hill Long Service 94-5 Tons ttMOgl&S? ,i6ylJM w&' International Harvester Company OF AMERICA FACTORY BRANCH, 209-1 1-13 N. 22d St., Phila. "g IIKANMIIjS ll.W.TI.MOKK. IIAltHI-lll III, AM) 00 OTIIKIt ( ITIliS s j!V iJs'vKi''. I Knsfl 1 ll ' if" LsH 5 vwstra iiuliKrMn LsH Ctt CLASS C KiHffiSSSBLHssW d iSBMtwi-fCtQM - Mn&cgffljtjJstssSM r SsSkwSSStoSmSssB- W JIBklSftSSnlrWftrtfiLSmsl U " && fflK" ft s m&sM MhS &f f slate. rfrw' S tt r. CAREY Shingles are safer, cost less and last longer, than the roofs of a generation ago. The surface is covered with crushed slate which forms a fire protection that is highly important. The slate givc3 the roof a very beautiful color. You can have shingles finished with red slate or with green slate. Both colors are fadeless. The cost of painting and repainting is eliminated and the roof is as beautiful every year as it is the first. The body of the shingle is made of woolfelt saturated with asphalt and coated with tempered asphalt compound, the most wonderful water proofing material ever known. And finally Carey Shingles stay flat. Wf are headquarters for tho building and insulating products ot ASPHALT 'A Roof for irm&kiccm. II 1 INlV Jl"ih j :m: regretfully, with n glnnec backup they left the pair. rMlnt Iran't wf the other girl nnythlnir right now m from my path." . JJM "s "(loose I" was all t.dim answered, bt ?. i Its Load Or Any Road Low Cost OTOR TRUCKS Capacity MAGNESIA Every Building" 1 II I II I IBM I I II I III 111 EXCLUSIVE DISTRIBUTORS OF CAREY PRODUCTS ROBERTS AVENUE AND STOJCLEY STREET PHILADELPHIA . n f tj 1 4 l i ""sWssWPssWBssJsWBBBBBBB, - i - dj '.I s s il JA ; '..XW. i'. -
Significant historical Pennsylvania newspapers