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t
EVENING PUBLIC LEDGERS-PHILADELPHIA, . MONDAY, AUGUST
22
f)
1921
WE' ( ' I
ffet Mi-' '
ftniri Hi,
HP Br,1',
riji ,l .l
m
n
II
Adirondack Power &
Light Corporation
First a Rof. Mortgage
6 Bonds
Due 1950
A long term hydro-electric
light and power bond secured
by mortgage on all the prop
erty of the Company, serving
a wide area including Schenec
tady and the intensely indus
trialized region of the Mohawk
Valley.
We recommend the bonds
for conservative investment.
Price 86 and interest
Yielding about 7.15
Complete circular on request
Harris, Forbes & Go.
Pino St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Wiclcner Bldg.
Telephone Spruce 7040
m
If RECORDS
$1,500,000
New Jersey Worsted
Spinning Company
Firjt MortfraQe Sinking Fund
8 Gold Bonds, due 1936
Drtioniln.itlnn., $wn. S'.OO. $1000
Clinsc National Ilnnk of New urk.
Trustee
Interest pa) able without deduction
for Normal rrileriil Income Tax
ui to 2
Innslmntiv Mote Tax Refunded
Secured bv eliicl First Mort
Kfi) on ill Fird Aset of the.
Compnnv Fixed Assets thrco
tlmcH total 13ort lisue.
Company has successfully op
erated hiiko Incorporated In 190o.
learnings are thr time interest
requirement of this Issue
There are s-ulsfactory Slnk.ng
Fund proiaion commencing
April 1, 1U22
Drtaili upon request
A.D.C0NVERSE & CO.
Commercial Truit Building
Philadelphia
New York Ilattlmore
I-ocmt 4802-4833-4':jlt
?-$ i '
S ffl Spruce 8200
j,,, viL S
BOUGHT SOLD QUOTED
United States
Government
Securities
All Issues
filXlItlTIEa DLPAKTMKNT
CommercialTrust
Company
Member rtder.ll Itcsrrre System
City Hall Square West
INDUSTRIALS MADE
L
Same Persistent Liquidation
Noted Throughout the
Entire Division
New York, Aur, 22. In Its general
rlinrnetcrMlcs todny'H stock mnrket
differed ury slightly from the recent
sessions. There was the same slow
melting of prices under continued
lliiii(liitlnK pressure nml while not nf
urgent tjnc was nevertheless persNtont.
The exlHtlnK pessimism wao perhaps to
some extent intensified by the failure
of a prominent brokerage firm, which
coined to have been entirely the result
of the protracted depreciation of the
Hirit allies of many of tin indus
trial concerns. The selling prc-sure
again mitnmnMrnll.) relaxed before mid
day and after Irregular recoveries trie
whole market became iutenselj dull.
There was vlrtunll) nothing In the
over-tho-week-end developments to ac
count for the frch liquidation. The
selling, nevertheless, progressed stead
ily during the morning, involving many
new low records. These included Sears -Roebuck.
American Sugar. I'icrce-Ar-row
common and preferred. Hide and
Leather. Central Leather. V. "S. Rub
ber. Itetail Stores. Houston Oil. Itojal
Dutch. (Jeneral Klectrle and Westing
house. I'ierce till common and pre
feired weie aNo weak. The urgent char
aiter of the liquidation wns indicated
bj a transfer of one block of Sears
Roebuck at (!0. a decline of UVfc points
At the same time most of the other in
dustrial;, and specialties forfeited 1 to 3
points.
While the rails held better they nlso
gave ground, but their losses were lim
ited to an aerne of a point. Advices,
however, from Washington, were not
altogether hopeful of pushing the re
funding bill through before the recess,
but there appeared to be some possi
billtj of the vacation program being up
set bj reason of the light oer the beer
measure. This had the effect to re
strict trading in the rail group, rather
than influencing selling. The real test
of the market position will be made if
action of tbe relief measure is post
poned to the regular session.
Different Interpretations from n mar
ket lew point were made of the Im
proved statement of the Clearing House
banks on Saturday. No change of nny
consequence was noted In the mono
market conditions The call renewal
rate was fixed at 5 V. per cent and, ac
cording to all reports, there was a much
better supplj . This was because of the
lessened lnquln rather tlinn because of
a growth of funds Foreign exchange
was vcrj Irregular with continue weak
ness in marks. Uncertainty concerning
the dividends on Middle States Oil and
I nited Hetail Stores was dispelled in
the announcement of the regular distri
bution by each of these companies. There
had been persistent rumors the dividend
would be reduced by the latter company.
PRICE SHADING
IN LOCAL MARKET
Lake Superior Corporation Re
port Showed Big Shrink
age in Net Earnings
NEW YORK STOCK EXCHANGE TRANSACTIONS
niv.
Sales in I lllsh
100 .. Advance Itutnely . .. 1314
M . . Alaska Child Mines . . SS
300 4 Allied Clicm & Dye... 3(1
too 7 AlllB-Chalmers pf .... 71
300 .. Am Agrlo Chem 31
1M1 .. Am Hosch Magneto.. 3314
000 li Am Car & Fdy 131
t njt a . ,.
w .. Jim iun 4yt
100 ., Am Chtelo 13
100 .. Am Hide fc Leather pf 47
00 .. Am Internnt Corp.... 3tU4
100 .. Am Linseed 17H
1S0O o Am Locomotive S3
too .. Am Safety Itaor 4
409 . Am .Smelt and Itef . 3i4
100 s Am Steel Foundrlos. . "H
8100 .. Am Sugar lief 01 "
300 7 Am Sugar Itef pf.... 8S14
1S0O 8 Am Sumatra 43'A
00 0 Am Tel & Tel 103'i
000 U Am Tolincco 11SJJ
390 is Am Tobnceo U 117H
4000 7 Am Woolen 07
300 . . Am Zinc & Iml pf . . 33
700 . Anaconda Copper ... 3i4
.W0 0 Ateh Top & f'anta Fo. SJ
1300 . Atl Olllf A W I S 3.. 1914
loo .. Atlantic ret 11 V
7?10 7 Baldwin Locomotive 73
000 .. Rnltlmoro & Ohio ... 37J4
200 4 Hattlmoro & Ohio pf 81
4100 .1 Ilethlelieni Steel n... 4S
400 .. Ilrklyn Uapld Transit 1V4
100 , . Huttcrlclc 27
3000 . Caddo Central O & R, 0?
100 n California Pacllnc . (10H
309 . California I'etrolcum. 31 '
300 in Canadian Pacific .. 11.1H
10 3 Canadian & Soutliorn 41
1300 2 ( al Zinc A Lad 4
1100 .. Central Leather . . . 3.".
300 .. Central Leather pf .. SSi
300 Cerro-de-Pasco 31
2000 n Chandler Motors .... 43H
100 Chesapeake & Ohio.. .1.1
400 . Chicago A (It West.. 7 14
400 .. Chi Mil A St r 2rj
000 .. Chi Mil A St P pf.... 3HH
1300 . . Chi II I A Pao 31
100 . . Chlno Copper 31 '4
"00 . Coca-Cola 33H
100 . Colorado Fuel A Iron. 2?V
100 n Cnlum Oa A Hlec 8T4
S00 . Columbia Oraphophoni 3n
100 . Cnl Ornphophone pf.. 14
"00 . Consolidated nis Ins .
10S . . Coneolldatod Textiles.
100 . . Continental Candv , .
1400 n Corn Products Kef...
7100 J. no Cosden A Co
.1
1414
H
"4 JJ
33U
3J
I'lIU
Lmr--- II III mm, -j-,., J
ill, Kli'Si"!!!!,
ATTRACTIVE LONG
TERM BONDS
Penna. Railroad Gen. 5's
due 1968, to ield 5.80
New York Con. H. R. 4's
due 1912, to jield 6",
Central Pacific Guar. 4's
due 1919, to ield 6
Illinois Central 4's
due 1953, to yield 6s
BIOREI&CO.
410 Chestnut Street
l.st iblUlinl 180:
I'lol ulelnliln
r -i
Dealings in the local stocks continued
of the same meager proport ons and
wero productive of fractional price
shading. Th erewns nothing in the local
developments to oereome"tho depressing
influence of the sinking endition of the
larger market. The only direct effect
was to put an effective damper upon
market interest. This found reflection
in the limited olume of business and
the monotonous listless drife of the en
tire market.
About the onlv feature of Interest in
the nes line was the publication of tbe
I annual report of the Lake Superior
iCompnnj and this was an thing but
1 ehi erful reading matter Yet the tnic
it told was no different from that of the
other Industrial concerns Net earnings
1 for the tisuu ear ended June Hll were I
SI. .r.41 ."'.IIL compared with ..' 722.1.VJ 1
kMinriffiM '" ""' preceding enr After bringing
g forward S2.."l)2.2.Tr surplus, there was
g a total of.s..i.i's,,iii ( hurgeil against
H the last year's income Included $1,491.-
247 Interest, dividends nnd rental of
subsldlnr companies: S."00.()(W1 for
1 general depreciation: S."22.2."il for iu-
g come tax ami M.iii (is, for reaiijust-
' menr or inventories written down, leav
ing a linn! surplus of S401.S1S.
4S00 4 Crucible Steel
200 . Cuban Am Rticir . . 12Ti
too . Cuban Cane Sugar . S(4
300 . Cubnn Cnne Sugar pf 10'4
300 4 Pavlnon Chemical .. 30 "4
100 10 Del Lack A Wtstem.. 05
390 .. Krio 13 r
10309 8 Famous Players L ... 54 !4
100 H Famous Players L pf. 7S
100 10 Fisher Body S3
110.-) . Flsk Rubber 0
300 Freeport Texas . UK
100 . . O.iston Wmn A Wig. . I
7600 CJenerul Asphalt 43J4
11509 A General Klectrle . ..Ill
3100 1 (lentral Motors .. 0JJ
100 0 n Motors de.lj GT-.. 01
100 Goodrich B F 304
1100 . dray Davis 11?$
3100 7 !reat Northern pf. .. 74
400 4 Oreat North Ore ctfs. 3HV4
309 4 Haskell A Barker Car 55
400 Houston Oil 44
100 1 Hupp Motorcar .... 10
300 00 Indlahoma Kef 1
100 .. Inspiration Con Cop . 31
100 .. Interb Con Corp 10
300 .. Internat Agrlcul .. . OJi
100 . Int Agrlcul Corp pf. . 37
3400 7 Int Har ester new. CDJ4
100 . Internat Motortruck . 30
100 . Int Motortruck 2d pf. 5$
100 International Nlckei.. 13 H
100 International Paper .. 43
100 .. Ininclblo Oil Corp... 814
100 .. Island Oil 2Ji
200 ' Jones Bros Tea 1714
300 Kans.is City Southern 2t4
100 4 Kansas City So pf . . 50
1.100 4 Kelly-Springfield Tire. 3Bi2
100 Ke stone T A U 12
100 . . Lackawqanna Steel . 37
100 2 Le. Rubber Tire "H
300 3 SO Lehigh Valley 31
I.ov
1314
H
35 ft
73
30H
30
13014
3114
13
47
2S
17 S
834
4
33 M
3394
8014
81?i
43 a
10.14
118
117?
3 r
23n
34J4
84
1014
ll V
70;
30 J.
51
471-S
I0U
37
7?,
m
31 ?4
1I3M
41
4!'
34 '6
8S''0
S3
4I&
8.1
7 '4
23
3S4
30 M
31 14
311,
2M
.11 1 '4
3'4
14
4 '-j
14'
(II li
33 '4
81?')
13?i
8 Vt
1914
30
03
13..
33 H
78
83
0
11?J
1
41S
IO912
0?4
01
30l2
10
73
2S4
53
44
1014
3
31
10
0?i
37
07 '. i
30
5
13 K
43
84
2 35
17 V2
31 ?4
50
30
13?B
37
'it K
51
i
1 .30 Net
r r ctiBe.
114- J
H 14
33 J, - fr
73 - M
30M- H
33i4 1- 354
vtiiyi
344
13
47 -
38 -17t-83
oou-
87-M-4314-
105'2
118J1 f
117M
Vi -84
-10
14-
ll'4
73
30?0
31 -47H-10'4
7.7
8U-
oot,4-3IJi-113?i-41
4Vi
34 -38',-2.1
-41
V, -5.1
7!4
2.1 -3S4-30H-31)4-3.1
H (
22?5 4
5314-
3'4
14 3 1-
14!4-
H
04 yt -23
-8?
ij -13
V, -
sm
1014-
30'4
0.1 I
13', 32;8
7S -S3
-0
11?; -1
43 k -no
-
0?s
01 -
30 i2 -11?4
J
74 3814 h
55 -44
-
lo?H
3H -
31 -10
4-
i?4
3)
0S5J-
30
5S
11'4
43 -
8S-4
1
1
!4
V
l?
?i
l
Hi
V
1
14
!'.
1
'4
H
4
V
i
'e
i
'4
14
!4
V
lli
3
w
Hi
'
"li
in
H4
3
M
',
A
!4
Biles
300
100
000
11000
400
1)1 A
In t
lllsh
Loowo Co U14
. . Maxwell Class A 41
.. Maxwell Class H . .. 014
13 Mexican Petroleum .. 0154
3 Miami Copper 20 ft
1000 1.00 Middle States Corp... II
17',
24 34
50
3
13?,-
37 -
24?,
51 -
- 1
3300
100
100
800
500
100
100
100
300
100
100
100
1000
200
4000
300
too
200
3500
3090
700
3000
100
100
700
400
800
0800
1000
2500
2000
2300
300
2000
000
800
103
1800
1300
4300
200
1400 S
300
100
14100
100
100
000
7100
3100
100
100
300
300
300
300
13700
300
100
100
400
2100
300
100
1400
1800
(100
200
100
100 3
1500
100
100
(1500
1700
1000
100
3400
100
300
0H.00
400
1200
400
100
100
100
200
200
200
200
2000
200
1400
1300
200
100
300
Mlthnlo Steel 23 Vi
.. Minn A St Louis 10!4
2 M St P A S S M pf . . . 83
.. Missouri Pacific 10
. Missouri Pacific pf...38
.. Montgomery Ward ... 1014
. . National Actio A.... 14
7 Nntlonnl niscult pf,..10H
7 Nat Knam A Stamp 3814
. . N'ev Con Capper . . 10
5 Now York Centrnl. .. 70
8 N V Chi A St L 2d pf. 03
. . New York N II A II. . 18Ji
1 New York Ont A W. . 17?
Northern Pacific 78H
l?t
10
33
35 K
41'4
3014
37 J4
7?4
. . Okla Prod A Ref
.. Pacific Devcl Corp.
. . Pacific das A 131eo.
.. raclflc Oil ,
0 Pnn-Amer Petrol . . .
0 Pan-Amer B
2 Pennsylvania R R. .
. . Penn Sealxiard Steel
.. Peoples Clnn Chicago. 58
.. Poro Marquctto 19
3 Philadelphia Co 29 A
.. Phillips Pet 18
.. Plerce-Arrow Motor . 13),
. . Plerce-Arrow Mot pf . 20
.. Pierce Oil
5 Pierce. Oil pf 30Vi
0 Pitts Coal 85
. . Pressed Steel Car. ... 83
8 Pullman 01
4 Puro Oil 24 J4
8 Rallwav Steel Spring. 744
.. Rand .Mines 33
4 nendlng 07 74
. . Republic Motors 0
. . Republic Iron A Steel 45
7 Repub Iron A Steel pf 83
20 Royal Hutch Amer... 40
.. St Ixmls San Fran... 33
.. Seaboard Air Line... 5?4
. . Sears-Roebuck 01 4
7 Scars-RoMnick pf ... 04
.. Seneca top Corp.... 15
.74 Shell Transport 34
.. Sinclair Oil 1714
6 Southern Paclllo .... 77 Hi
.. Southern Rail 104
.. So Porto Rico Sugar. . 30
7 Stand Oil ol N J pf,.107?4
7 Steel Tube pf 70
8 Stewart Wamer Speed 2314
.. Strombers Carb 37H
7 Studcbakcr 00
1 Submarine Boat Corp. 1
Superior Oil Corp.... 4
. . Tomtor Com A V "A" 8
.. Tenn Cop & Chem.... 7J4
3 Texas r0 33J4
. . Texas A P.icltlc 33
.. Third Aenuo 134
0 Tobacco Products .... 80
.. Trans Con Oil 0?4
10 Union Pacific 1104
4 Union Pacific pf 05b
8 United Drug C54
80 United Drug lBt pf . . . 40
0 United Fruit 10'!
.. United Rwy Invest... 7v4
. . United Rwy Invest pf 18
3 United Retail Stores.. 48?
.-US Food Products... 104
4 U S Ind Alcohol 4(1
.. Us Realty A Imp 45
.. I' S Rubber 40',
8 U S Rubber 1st pf 80
.. U S Smelt A Ref.... 28 4
BUS Steel 73
3 Utah Copper 44?4
.. Vanadium Corp 27 ,
. . Vn-Car Chemical .... 25
. . Va-Car Chemical pf . . 00
.. Vladou Ino 04
.. Wabash 7?4
.. Wabash pf A 20 f
. . Western Mai yland . . 0 14
. . Western Pacific 31
7 Western Union Tel... 81 !4
4 Westinghouso i: A M. 39?4
.. Wheeling A L U M,i
.. Willys-Overland 6!
.. Willys-Overland pf .. 27 h
B Wilson A Co 324
8 Woolworth V W 100H
0 Worthlngton Pump .. 34ft
!-dttdeml.
Low
1114
41
0
804
20
10 ?4
23l
104
83
1HH
37 y,
io4
14
108
3814
10
70
03
1534
17J4
74 ?4
t?4
10
3.1
35
40?,
38 ?4
37 ?4
7J4
55
1HJ4
20
1714
UK
28
5 '
30 V
8414
53
00
24 ?
7414
33
00l
8
44
81 4
46'4
23 J'g
5?4
804
04
13
3.1
iir.
70H
1014
30
107 Vi
00
32 !4
2714
05
4?,
4
5
7
3314
33 J 2
1314
50,
014
HOK
05 4
5514
40
100,
T14
18
40 ?,
10 4
45 J4
43
4514
80
28
734
44
2014
2494
CO
0Ko
7
20 r,
94
20 Vi
81 4
39
814
'a
2B'4
31 y2
100),
314
1 .30 Net
V. M ChRe.
1114- 14
41
0 - 1
0014- 114
20
11
234-104-83
-10
'
3714-
1014-
14 -
100 -3SJ4-
10
70 -K
03 114
15?J-1754-
75l-
1J4
10 r
33
35 -4114
35?4-37J4-
7?4
65
18J4-
20 -
18 r
1IK
20 r
84-
30'
8414 I-
53 -
00 -24?4
741i4
33 4-
oo?4-
8!4-
44?4-
81 ?4-
40 -23
834-
59 '4 -
04
1.1
34 -17
-70',-
1014-
30
107 4 -70
494 4-
4 4-
8
7 -3314-2312-1314-50?4
r
C4-
110K-
05 '4
5514-
40 4
101 -
74
18
4S?'i4-10J4-4S4-48
48 4
80 28 -73
!4
44?4 CO -
014
714 20 J, -
!2
31 -8114-30
X-
84 4-
Ci,-
20V4-
3314
10DH-
3414-
14
14
M
'A
i'
1414
'
114
114
14
314
3
?4
H
Ti
114
1J4
14
3?4
H
14
14
H
14
?B
114
Commodity Markets
GRAIN MARKET
Chicago, Aug '-"J. Whent started
with September '4c to lc higher,
while December was '4c to !4C lower
Trade was mixed, with commission
houses biiing absorbing offerings on the
declines. Receipts inspected Saturday
wero 1(11 cars; lust year, l-i cars, i lie
RECEIVER FOR TRIPPE & CO.
Failure of New York Firm Occasions
Surprise in Street
New York, Aug. 22 The failure of
Tnppe & Co. was announced tnda on
the New York Stock Lxchnnge. The
firm is composed of (Jeorgo M. Woolsey,
who is a member of the New York Stock
Financial Briefs
cash market was easier with buyrs i:change; William J Palmer and John
Philadelphia Stocks
m .uchiwc
m Phllad-.i,m t ,s r) ,, hnngri ml
liwicniiriiiiij ii , ii 'iiiiii'i'Viiihiiiiji,
1
Hlffh
lfiO Am Strs. 7,7
.r do pref. 04
t)2 niecStor.104
10 Leh Nov fit
17S Pa II R . 37T,
3 Pa Salt . 07
42 I'hila Ins
Wire . r.04
mi Phiia niee 2114
32 do pref . 20 H
2di)t Reading 0(D'.
inn Tolio Hel 15
KiilTono Mm 11.
01 v ; 1 331 ;
KKltC.S Steel 73TV
Kfi Wnr IA.S Mv
Id West Coal (ir.
r.71.
n Vi
!4
103a' 101
I IT. Net
P M chue
r.7-f
111
04
37i
07
fiOVt
211,
2(5' t
00
1
33
73 -s
0-
01 .
.17.
07 .
r,oi-
Ul a
hnlfllns off. bwause of weakniss u fu-
turi's, which leads them to cpect chenp
ei prices Cruintr olTetings to arrle
were moderate.
Corn started unchanged for September
and Vc to 'sc higher for December.
Trade was moderate with offerings in
creasing on the upturns.
Oats opened 'ic to Kc higher for
September and li- t'1 as-' better for
Decembir. with commission houses bu -nig.
COTTON MARKET
J (iillics. It was organized on August
2(1, 1!I2((. nnd has its office, nt ."( llroud
street The linn took its name from
Charles V. Trippe, who died 11 jear
ago. It had been attie 111 motor nnd
tire shares.
The failure occasioned considerable
surprise, as tho firm, while organized In
its present form only n car ago, had
been prominent ns a commission house
for ten years, and theie hail been no
intimation of embarrassment. In some
quaitus the failure was attributed to
the inability of custouicis to meet ob
The nverane prlcn of the twenty nctlxe in
ilU'trl.il Htocks lectliioI 11 L'5 p. r ci-nt on
Miiunln to OR Oil. while the twentj r.illroids
declined 0.14 pur cent to "IMA.
Statement of tho Proctor & rjamble Corn
ran) for tho year ended Juno HO. hIiuhs kiohi
buslntsx of tlJ0,Olu,7J7 ft, conrpari'd with
,nn,niiu,uua Ol'lOQ (JTOIOUH
inic pront ror the enr umo
oou,
ear Uperut
unted to jit.Tu,
rrnxies hae been Instiod for thr. nnnual
nieellnK of the I.iiKn Superior Corporation to
Ik held nt the cotnpnn h rfl-. 11 1 mm n
on ()iinhr H Tho rroh are In ihe names
or neruert i'opp.mi. wiitmn 11 t unnlniiliain
T. U Wood. II, C. Colemun and Aloxuudir
Ta lor.
Tho Treaeury Department rttwrtB national
bank noteu outstanding for weik ended
Auirunt 11) decreased $SHS lisn. I'ederal Ile
nero note decrcuu-d $2 4"i2,000.
Wentern Maryland for tho crond week of
AurukI reportu earnlrnoi of Jilli 70.". a do
t reMtf of JH.IHsr, from .1 muorv 1, 111 -100
D03. u decrouse of Sl.iihl.3U3
llutterleW Comoanv for ntv mrtnth ana.i
ilg. U. ' Hie s eauiness iv., "'"' ,.1.' .."'.T.. .' " "h. ' ."' I Juno 30. f-porta profit after VeWir l, 1, xos
of the cotton market today Ut the open- last six inuuns 01 wjmi; m ui.iii m- $ii.m nKalnat J5U.41!) In the e.,rreapond!n
chiefl a reflection ot coiuiiun'd luuues nem u.i m" umi s . ......1.. ..... ji..uu . ...
The New York Stock i:xchane has ro
relwsl notlco from the C'onnolldaied Oan and
i:ictrlo Light and Power Company ut pro
pored Increaae In canltal totk by iltf.OOO.
(juu of preferred.
u
RREGULAR
PROFIT-TAKING
Business Continues on Small
Scale Prossuro in Oils Re
newed; Trade in Minos Light
New Yorlt. Auc. 22. Trading on the
Ni'w York Curb Kxchnnge continued on
a light scale, with Interest for the
larger part of the session centered In n
number of the low-priced Issues, al
though slight activity nt tlmcn devel
oped in some of the hlgner-prlced shnrcs.
After early steadiness, nn irregular
movement developed on nroflt-tnKlng.
The announcement of the fnilure of a
biokerngo bouse had little or no effect In
either direction.
Cities Service common wna In fair
demand, nt one time showing nn up
turn of 1 point. Fnrrcll Cool, after
opening up over n point, subsequently
yielded 1 Vj on realizing. Acme Packing
continued heavy around the previous low
level, united Htntos Distributing wns
unchanged. Commonwealth Finance,
common nnd preferred Issues, Improved
about n point cncli. rirltlsh-Amerteon
Tobacco was steady. Olen Ahlon Coal
was unchanged nnd Retail Canny wns
about steady.
'lliere was renewed pressure in Ar
knnsnH Natural Gns, which yielded
nearly n point to a new low. There wnH
light pressure in International Petrol
eum, although this stock yielded only n
small fraction. Elk Unsln wns a shnde
lower. Cnrlh Syndiente was Off a small
fraction. Itynn Consolidated developed
strength, moving up . Tcxon Oil was
more activb, advancing fie. Slmms Pe
troleum nlso wns Hllghtly lower and
Shelly Oil was quiet and nbout on n
parity with the previous closing.
Mining shnrcs were omewhnt irreg
ular but with a smaller turnover.
iNnrsTrmi.9
HUh
Acme Pocking 1
Hrlt Amer Tob re US
Ilrll Arrrer Tob coup 11
Cur I.tuht I0
Com Flnnnco 03
Com Finance pref, 73.
Kmnlre Food ...? 2'
l'arrell Coal It'j
(Urn Alden Coal 31'4
lteiten Phem .. 14
Inter Kuhber S
Iladlo Com 1
Hadlo Com pref 1.
lleputillc Tire Hub . . .
HnHdlng rldhts
I' S Distributing . . .
IT H Ship Corp ....
United Het Candy ...
IVni ne Coal
1:30
P M
1
Ohio Oil
2S
1P'4
rj'i
is
r.;
HTANDAKI) Oim
244Vj
))W
1
118 OH
(II (18
73 78
23i; a.m
in in
1 1
ii
l.Vi
22U
IS
.V4
1
IV
jr.
1BV1
!44 2441
INDHI-nNDKNT OII.H
Ark Nat Qas rluhts 7
Uoone Oil IS
lloston 1Vomlru 1.
Carlb Bind .'IS
Cltle, Scrvlco (old) lift
Klk Jlatdn 1'et n
Cllenrock Oil 0"
Int Petrol 10l
Maracalbo Oil Hli
Merrltt Oil iMi
Moxlco Oil Oil
Omar Oil 1H
Uyun Corns Vi
Salt Creel. Prod in1
Slmmo Pet HV
RKelly Oil -A
Texon 00
Woodburn SO
MINIM!
lloeton i Montana 07
Con, Cop Mln , 1
Cron.on Gold Ill
.7
1H
70
3H
114
M.
8S
104
7
on
i
v&
so
El Salador
Kureka CrornUB
CloM Deel
Ooldneld Florence
Ilarmlll DUIde
Kerr Lake
Mason Valley
Natlorril Tin . . . .
Poitlanrl I'anal . .
Hller Mines of Amerlia .
Silver Illlln of Noada
Tonopah Divide
Cnlteil llsiern . .
Pnlted Verde Kxl ...
West i:nd Con
TIONIIM
Allied Packer lis
Anaconda 0, . .
Atmionda 7a 111!.'!! . ...
Annlo AmerKan Oil 71 s
Armour 7a
neth steel 7a 1H2J
Iteth Sletl 7b 111.11
Can N'.it Ii: ol 7m
Chi I:.ihi 111 g
Chi l'n Htu tlks
Copper Kxpi rt Ss ill.'"
Oalrti 7s
CI ru nd Trunk ll'i a .
Heinz Co 73
Humble 7a ....
Kennerott 7a
Stars Hoebui.lt 7s 1U.'3
Southern Hj 'Is
Southwest Hell 7s
Htnnd oil N Y UV4 s
Swift . Co 7h II II
Hwlft J to 7s liu.1
I'll Oil Trod SH
Sw Iss fttj a . .
1 renth I'renilum m
vml. York Vuir 22 The steadiness ligations and to Hlie shiiukage in the
hot dn weather in the Southwest. Wall Albeit 1'. I'utuum. n member of another
Street. Uei pool nnd some of the local Stock Exchange firm, wns appointed ic-
. i u i. . l.iin irorinL'ti rump it it'll
L " '., " J, "r :.. t , -es and Southern Within the last year four Stock Ex-
.,ir., interests. After opening (1 to 1J
chnngo firms have failed. One was re-
mints higher, the market continued Arm ccntly reinstated as a member ot the ex -puinis
mho", ", , ohnnpe hnt 112 discharged ith oblura-
.....-, . n - ..
20 1..
(!ll1
t
73Tt i
sis i
01 -2
M
RAILROAD BONDS
We own and offer a Rail
road Bond of highest
Krnde to yield nearly 77c
Phone, Spruce 7240
WiDiHtn Dldo, Philadclphia
, MtmimPWaJMihwid
v Mui YatkStvci. tx&Miu
HIWYOtIC UIXAttTH. N X
Vi ihange made h mmparlson with last
''" Kn m 'tTf Stork Kxchnnee
IMIIUMIKI.I'IIIA IIOMIS
JIMIll l.ihertv 3.1 Jt,s 2s. . . .
."2i ill l.lbirtv 3d 4',s '2s
l'Mld I.ibertv Ith 4',s '3s
KWMi Victory ls '23
liMMI Hell Telephone 7s
lllfMI niecrrh i People's 4s.
r.fsi(l l'lii'n Elec 1st ."is ....lots
100(1 I'nited Hallways 4s
01 si
III. sO
S7 Ml
US 70
101
10
nnd was about 14 points oicr tho pre
vious i lose.
previous
(' ' s
1,1 O'l
IS 17
1.1 III
11 'IT
Hulls.
October
I mij.T
oP-n 1 I" M
13 11 1 I 11
ISM H '.'
n on n To
13 TS 13 su
NEW YORK COFFEE MARKET
New York. Aug 22 Tl" local .of
fee futures maiket opened ' t" . points
lower this morn iiiu on .oiiiiiiuod pres
Miie from September liquidation to-j-ether
with poor ofliclul cables fiom
I,rTh'e marhi t sold off to ll points on
the call this mm tuns on i out nin-u pies
.mn from September iiqumuiioii
tlier wit. a poor snovviio;
g'
to-
f IllMZll
At mid-
lb
m
r newbubgerT I
mmmni & loeb
Members New York and
Philadotphta. Stock Exchange
14(0 Chestnut St.
Maturing
. Win jiimjumaiHBaiaEMHrM .uuimi ' ,nt Maturn
0j , - i 1(1,y Jate
W, Accountant, Auditor unci ;''' m
f4 Office Manager L:5 ll. . !?.!
LONDON STOCK MARKET
I Business Quiet French Loans Dull.
i Home Ralls Buoyant
Ixmdon. Aug 22 Despite a more
confident feeling in securities on tho
stock evlmnge here today, business was
I quirt. The attendance continued srnnl
1 Prion changes In the gilt-eiig.s;! hm(.M
were mixed and conflned to nnirow
lltnlls Trnding in Trench loans was
dull with priics holding around previous
lev els
Price movement In tho oil shnrcs
v re Irregular, but n rail) ins tendonc.v
wan In evidence Shell Transport and
Trnding was l7, and .Mexican Eagle,
411 10
Home rails were buo.vant on whnt
appeared to be almost entirely profes
sional dealings Dollar descriptions
vver" nulet nnd unchniii!cd On cum.
I pleti .a of a general reinstatement of
I lines by former holders. Argentine rails
wero inclined to sag and displayed heav
iness Kafiirs rulisl stemlv
U. S. Certificates and Treasury Notes
1 .1 0.mftl (.IlllH.d
.. .i.itl.ll Ol llll OHM .11. ' '' '
ilav prires'were working tojowu livels
Si member selling on ui " '"'
( i to 0 liScand .March N
TJ noints net lower
little In tin wu.v
m
31m-. or !) to
There was very
of deiiinnd and onlj a
model ate amount of selling.
In the local spot mnrket. most all
kinds of coffees were moving sutlsfas
toiih and at firm prices, indli ntlng that
invisible stocks lmve been depleted and
that a leplenlbhing process is now well
undi r wit)
Sepu ml-r
(. inter
Man n
Mm
Prev rlone
ii ni 'ci n
i iron
fl ,1.-i.-iS
7 OsCi 10 7 0."f(0.l
7 4 7 ll I 'I 7 dsfl to
7 UT It DO 7. 17 ti-Do
DIVIDENDS DECLARED
Light and I'i
an Joarpiln Light and I'ovwr ' nmpiny
ouarterlv 1 "- Ir tent on nrtierre i inn
j 4 pr rent on prlir preferred Imm tasib'e
H. neniler IS to stock ol leeord August 31
Procter i tininb e Company fju.nerlv 1 'i
ier r. nt on ll ver (ent proferred i ivahli.
u pteinlsT 1" I" s' k f rerord August ,
Mlddli htut nl Corp ration qu irterly
3 i.-r .ent pa iblo Oi totier 1 to stoilc of
I reeor S ptemb' r in
J 1 ' tirv i inr.iuiin . .
nuarterly 117.'. on prefernd piuable I), lo-
b-r 1 to stoek
of rerord September 1J.
Illd Asked Yield
inn 1 in 3 3J 4 On
100 1-32 lOolt no
toil 1 HI ino '(-HI I K
BANK CLEARINGS
riaoli ilmrlngj today ioinpr.red with cor
responding
Phlla
lloslun
N York
ln last hti vours
10'JI lll'JO llH't
IK", 0(P OU'I J7S is-, ion ten ".01 r.ss
'."fl 'ill M77 ll 11H 7.'1 at 1H3.L'SI
3L'I h"'i Ida 111 SI7 ''87
FOREIGN EXCHANGE
New Ynrli. Aug. 22. There was an
inegular tone nt the opening of the
loreigu e.(hnnge market this morning
Minks were much lower Sterling and
the Sc'indlnnviiin exchnngis weie stinng.
A heav snle in l.otnlon url this
morning nu sed a decline ot about ."
lioints in mnrks.
( biotaiions were :
Sterling cables 3 OO'i. demand
3 bli'ii ; frnnc cables 7 72. chei l.s 7.71 ;
lb Igian cables 7.."7, i lucks 7 ."(1 ; Swiss
uildis 10.1)1. chukti 10 !H. lire dib'es
I 22. checks 1.21'! : peseta rabies 12. '.II,
rheiks 12H2; guilder i ables 31.112,
i In d.s .".0 117; StocUhiilm tables 21..ri(),
ilni'ks 21.1."i; Clirislinnia i abb s 13.2l,
riiecUs 13.1."; Copenliiigeti c.ihlis 1(1.3,",
chis Its 10. 30; maiks 1 1 1
'The rale of premium m .Montreal tn
da) on New York funds was 11 1-32
per cent. The into of discount in New
York on Cnnadian funds wa.s !) 13-10
per lent,
(Vntial European exchanges were:
Oreek. 3 00; Itumniiinn, l.l!l',i ; Ilul
gnrian, .82; Austrian. ,12'j; Polish,
Mlt; Czecho-Slovaklun, l.lllVi ;
Jugo-SInvian, .37 ',4-
SATUHDAVS FINAL QUOTATIONS
Sterling I'rancs Lire Qulldera
Demand .... 3 (I5J 7 7IJs4 4 L'SW .10 fi.l
Cable . . . .11 'lO'I T.74 4 20 3u.Ua
TODAY'S OPENINf! QUOTATIONS
Sterling Cranes Lire Uullderi
Demand ... '!' I 71 4 aiH ill) H7
()0H 7 72
81 0J
LIVESTOCK QUOTATIONS
Plttsbiirrh, Aug. 2i
ChIvh
CATTM3 -lUcelDtn
!!ioo l1 IyWfr MteerH IH..10 w :..
m
i . jWW
,y , (fa-tun
S3 years, mgrrled 4rd Isiaselilm; the
xiary uua It r to make good la a re
alms iKiJiiion, Uuslrea lo locate with
i
firm, where ful
in all
UUUfi "Ptrsolislltr.
- V. Wllty win t appreciated.
ting In all of lta branches toenther
-.-i .:...j-- - . .T. - ...... --.
i -psrsonsmy, amniuon, initiativ
Sfiin
knowledge of
r
a 0(1
lonw. ion'. i
ion 7 10 100 H-li) I 17
lU'i't lno I fi
ion U-.1J ion 13 .1.
10 1 lOO'l
iniJS lOu1.
iroi ioo a
100U lm sua
uxempi rrom normal federal tricomo tax,
Liverpool Cotton
,Vi I '.ib
t'f.. Mch
ift Mch
t'f.Vi Jun.
in.'
Ili.'i;
1H2-'
ll)'.'2
t'SH Aug 102J
'SK June, ltJl
fAcceptabla for payment of Incom tax duo
'
en date of matHKl;
ij
l.lver.xKil, Auk "2 Slot i otion was
....i. ....I., ullli nrles Hteadv on tbe bfisls
f, III) I of .1 points adviirse for ml Idling ut S ."0d
0(1 Sales V.eie ooij lnu.i. . u" e-diib nn
ft 17 100(1 balos all American ruturcs were
aleaay in me eariy onunna. t"fc. iricef
were American middling fair, lid, good
mlddlng. B80U. fully middling, SUM, mid
dllng, r)50d; low mliVIIIng, ,7 7l)di sjood
ordinary (1.71x1, and ordinary, fi.Dod.
1 'I
i 21
hif..r I'i 7SSP7. COVVH I4(lt3 .'.0
r,..,.inis 1 JOli heeud Higher. Ton. Ill no
Jltios Hicelpts 0000 head Lower Heav
ies Jit 2ft4i0.7ri, bfuvv .rkers llO.RO'it
10 7.1 light jorkerj, JOSoaiO 2a i pfgs. Vu
i 21
HIILKP AND LAMPS nocolpts. r.100
bead aifliuy. I op sneep, u .0, tup iambs
111.
Kast IlufTnlo, N. Y , Aug. 22 CATTLE -Heeeliits.
4000 bead Slow Karly sales
J,lW73c lower. Shipping Meors 18 HOW
1C 50 butchers, JK?fH no, learllngs. $
Sin ,1U heifers. 1(1117,10 cows (,nUi
bulls. 13'.MH stock( r and feders. IftiJrd
fresh cows and springers MimcIj 140
110 Calves, receipts 2100 head Stoad.
jr.&r.'
HOOS-Hfcelpts 14 400 bead. r,n to 7o
lower Heav X9 7fli8 10 mixed. I10WIO21
yorkers IIOWIO r.O light yorkero III .OKi
Id plgu IliVU ,10, roughs, 1H.R0; stags, 14
8HEKP AND LAMHH Hecclpts 10.000
head. Lamlm. 2fto lower. Lambs. 1.10 n.25
yearlings, IS.BOOHi wethers, Ift.SOOO, ,wi,
.104,001 znxl sheep, 'DtpS.23.
MONEY-LENDNG RATES
NITV YORK Monev on call, both (lasses
of collateral opened todaj ut 5V per cont
for lending and renewing.
Time money was dull today nt tho nom
inal lUuro of (i per eut the quotation for
sumo time past
Prime Innk nrteptanr, s vver, moderotel
nrtlve at ft1 bid. .", er 1 ent 1 rfered for all
maturities. Six mi runs I Ills are worth
.ibout .11. ner cent and four months' loivu
about .I1 per cent (Ifcslp t crsivts of nn
lmorpiltnir reduction of the N'ew Vnri l-.f-
oral llestrvo llunk of dsiount
runio menantiie pai'r js 11 to 11' t
cent on a inoileialo volume ,,f trunsiu tluns.
( fferlngs of tho be,t names are not large
I'HII. VDKI.I'IIIA Call, ll rer cent time.
(1 ,ei cent, commercial paiei three to six
months, it pet rent.
Nolo These aro mer-iv n, mlnal quota
tlom, tho legal rate nf ltuei,.si in tho Statu
of I'onnsNlv.inla being tlxfd at n per rer t
Plus premium and i ominUslon time np ncv
for thirty to ninety dais Is loined at fl to dVi
s-r tent, while commercial paper, from
thlru to ninety duys. Is Inane, I at U to ll1
per cert
BAR SILVER
Domeetto bir silver was unchanged In
New York today at lido j er tine ounce
foreign, (lllic a ilfilliw if S, n Lon,jun'
tho pr.io was "d lower. ,it 37d,
GOVERNMENT BONDS
is
32
'I
nn
1.1
!'
IN
'lA
Ml
12
74
..L!A
so
44H
Ml
p:iH
khiS
ns,
inn
01
iiij
nn
10l
mn.
04 1?
11- j
lnii'i
IU
117'
7S
Uf.Ts
Kin'.
Il7
117-4
10O
se,
70
nn
t
114
17
31
3
811
11
1iA
IS
.111
sn
12
74
7V,
18
70
lift
n't,
DO
in'4
lou
on
lot
m
a
nn
so
on
ilA
31
3
sn
1.1
3H
1
ftll
1A
SO
12
74
2'
41Vi 44H
SST, S7'
l3'4 H8'
100S lOu'.
IIS'4 S.
1110 ino
d.-i ns
lot's 102
mi no
104 104
ini ints.
Ill's H4a
117 n7'i
null jon.
D7V, H7
II2S II24
UT's 117
n7H II7S
mi's mi's
niii ion),
H7 H7.
H7S 07
ion ion
ssMi ss,
70 7u
lL
THE best gauge of this bank's
capacity in the administration
of its customers' accounts is
its record of success in con
ducting its own financial affairs.
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital $1,000,000 Surpluf and Undivided Profits Earned $4,400,000
F
BENJAMIN FRANKLIN
selected the choicest maxims he had printed in
"Poor Richard's Almanac" during twenty-five
years, and wove them into a narrative entided
THE WAY TO WEALTH,
which our Savings Fund Department has re
printed and will furnish, on request, to individuals
and corporations for distribution among their
customers and employes.
Fidelity
Trust Company
325 Chestnut Street
1431 Chestnut Street
Capital 5,20ovooo
6324 Woodland Ave.,
West Philadelphia
Surplus 16,000,000
Fundi Held in Truat More) Than $250,000,000
How Listed Stocks May Be
Bought Through the Mail
Clearly explained in our Booklet "The Systematic
Savings Plan." Sent to you without obligation.
Avail yourself of present opportunities.
SCOTT & STUMP
Members Consolidated Stock Exchange of New York
Stock Exchange Bldg. Philadelphia
New York, Coutesvllie. C'nrllMe, Uiimhcrsburc;, l'n., I omlirrlund
.lid
LOCAL MINING STOCKS
TONOl'AH STOCKS
Hid
Cash llov 11.1
Jim llutbr . . ,07
MaeNaimr.i .. 1,1
CleS(Otlt ,0s
Mldvviiv 11
Mlnali EM ... 0
Montana 01
North Slar 11.1
ItesLUe Kula 21
Tonopah Ext l,V
West End 7K
West Tonopah 02
DIVIDE STOCKS
Allied Divide nnV,
Alto Divide 02
lielcher 01
lielcher Ext 0."
Hen Hur
llrough Dlvldu Oil
Divide Ext .10
Dlvldi Con (II
Divider 1 01
East Divide ill
Harmlll 11
Hasbrouck Dlvldo 02
High Divide . . . 112
Knox . . ..II
Itevert Dlv de . ... (12
Heno Dlvllo .. . .01
lloseta . HJ
Silver King .... ol
HutheiUud !
Tonopah Divide .. . 7,1
Tuiiopali llifbrouek nj
VIctor Divide .. Ill
Verde Divide . . 112
Zono 1 1
UDLDI'IELD STOCKS
Ilootb . . .03
Comb Era linn .
Cruckerjucl;
Dlamondtlekt Hlue Hull
I lolent'J
lloldlleld 1 on
Cold Develop
IJoliineld Deep
ilreat lleml
riinnmv loupnn 2s 103il
J'-vnnin.i iei,lstared 2s HUH
Panama coupon 2s llll"
Panama coup 'ii 3s Hull
Pan .mn registered 3s Hull
Phlllpplno Is 1014 .
Philippine 4a 101.1
PhlllPPlni. Is 10311 .
C H 'fovt coupon 2i 1O30
V S Clovt registered 2s 10 to
L S (lovt loupoo 4s lli.'l
1" B Out roglslered 4h lo.-r.
Dtst of Columbia .1 ills id.'
inl
Kid' l
lllil',
ll")'
71
M
7S
7H
11)0'.
lll'J'I
llll1.
10 I",
02
Ask
llil'i
Kll'i
llil'i
Rl
111 Hi
ion;
lo",
10.1
Reserve Banks' Discount Rates
Official redlsiount rates at the twelve Ted.
erul Iteservu Hanks are as follows
Treis, l.n, ( , )tkrH
clfs bonds p.iper. ac.nt.
ft'l
11
ll
(1 (A
ll'
II
ft's
No Change In Raw Sugar
New lork, Aug 2.' The raw siuar nrar
ket la (julel and urn hanged on tho busts of
44 c c I. f. 'Jler were no sales rrporied
on Satuidaj Importations from the inth
to 21st Imlustve in. uded 3H.H0O bags Cuban
to the Win nor Sugur lletlnlng Company.
111,000 bags Cubas to the National Sugar lle
tlnlng Company and 12.000 bags Torlo Hloos
to tbe American Sugar lletlnlng Company,
The local reflned market la unohansred Af
from 80 to U.lOo, l.ss It per cent for cash.
Boston M4 ',1 ri.'
New York ... . o'j -,i ,iu
I'hlladolphU r. ',1, r.il
Cleveland ft'a :,', r,'.,
rtlchmond n n n
Atlanta II 11 11
Chicago W't r.'i n'n
St Louis . ..(I (I t
Minneapolis . . . ,1'4 1) (14
Kansas City I! 11 11
Dallus 11 11 11
Han Erantlsco r. ' j mj tift
Jumbo Ext
Kowunas
Lm, Star
Oro
Ited Hills .
Silver l'n l
Spearneau
0.4
ni
.MS
nil
111
.01
112
0 1
.112
.0.1
.10
02
MIHCELLANEUl'S
Ainpnro . 1.10
Allium. I'llltcd , . .lit)
CaleduiiU .OS
Kden Ill
Einniii Miner us
Eureka Cr, esus 3n
Eurikii Ho 1 . . . UP,
lleela 1's
Mother Iwde .'.'
Nevadi Hills ill
Nevada Wonder IT
Suci 1 ss 112
leiopu Mining 07
White (uts 111
Wllbert 01
Ask
Oil
no
17
in
.13
no
117
117
23
I A
,n2
.01
.01
ll.l
02
.113
.00'i
,(IH
82
III
0,1
.112
.13
..ll
11.1
HI
04
II-'
.HI
02
'-"
SO
111
.112
.01
u
.1)1
on'
ni
02
42
ns
.02
02
03
01
11,1
(II
llU'j
1
12
.03
1 20
.13
12
20
U.I
112
i2
03
llll
Ofl
03
r
FOUR BOORS
You Should Have
"How to Figure Margin"
Tflln jou nil nbout the nt
triictlM maruln.il nitthod ot
muling
"How to Figure Interest
and Carrying Charges"
A now book which explains
clearly how to llcuro your
transactions
"The Investors' Digest"
rjlves you usoful nnd vnlu
nblo Information about BOO
different stocks.
"The Dividend Payer"
The Magazine oi the
Stock Market
Any or nil of those hooka
will be gladly bent to you
upon rtquust.
Visit Our Board Room
'l he nrwest most at
traitlve nnd most up-to-
l.O In PhlUdulphla A
cord'al welcome uwalls
you
Edwin E. Kohn & Co.
Members Coniolidattd Stock
Exchange ol New York
1522 Walnut St., Phila.
New ork Trenton Eniton
I'lttsburgli Ulliiilngton
I'nttHvllle
blUMfJlt(Vl
"'t jmiJzZ?'!T imimiiiitiiiiiiiijiiiiiiia
1 a
Prices Steady on Paris Bourse
Purls, Aug 22 Prices were steady on the 1
Hourse today Throe per cent rentese, (in '
francB So outlines, exchange on London, 47 1
frama 44 1 ntlmis, !i per cent loan HI francs '
4.1 centliooH The dollar was quoted at 12 1
fiancs 11,14 centimes
FRIENDS OF U. S. SLAIN
Moros Expressed Desire for Con
tinuation of American Sovereignty
.loin. I. I., Auk. . (Hy A. !.) I
Dnto Ami ItcnunliiK, ono of the Krotn)
of IhtoH slain recently ut I.nko Lnnno,
'ilium Mm oh have cluirKcil wero nlnin
hj the I'liillpplno conhtnliiilaiy hocniiKc
ct thin htuti'int'utH heforo tint Wood '
I'mliiM mission of liniulty, i,mj ,,x.
pn".n'(l oplnlotiH favorable to roiitinupil
Aiuiriinii soverciKiitj over tho Inlands.
It developed totlnj .
Thu btuteinoutH were made nt Cnmn 1
.left.lv Im l,,.n.l.... I,, .1. I
'""'(i " " uvu.iuu uKiuru 1110 mis-
Hlon August 13. It was shown by tho
uiiskiuii 11 mcurm,
Baltimore & Ohio
How mill thit road benefit by Gov
ernment Leg'ulation? j
How will B. & 0. Stock act
marhetwiie? J
1 it a Bay or Sale?
These and many other Interesting
questions oro dlscusstd In u complete
analvets wo hnvo just prepared I
rh.su who are watchlntr this popu
lar Iraue sliould wrlto for u FHKK 1
COPY TODAY. "".
mmecn
jiwrvo-UMr.n,N tAtHANOC BONDS
MIMOim
C0N50U OAT 0 SrOCll : EWHMICt v,
1C22 Chestnut Street
I'lionrsi lls.11. Sprue,. ynu.S.3-j
IlOHlone: Ititrn 7.1U
71 llronilnur A 4H0 flth Ave.. N.
Stamford. I'onn. Hnrlnglleld, mb,,
Holioke, Miss ",
I
1 1
1 i
ffi mi
mi I
MIRI
Comparing
Bond Values
requires more thnn a casual
rcadlnfj of n company's bual
neni reportu.
A HRtlsfnctory nolectlon of
worth-while HuRUrltles dopends
upon n completo and compre
hensive study of their merits.
We offer the benefits of our
Investigations to nsslst jou In
choosing the best bonds at to
da'fi prices.
BATTLES & CO.
i? (ibliiiriJ 1800
-, Independence Mqunre (Hast)
iiiiinimiiiiiiiiii'iuiiniiiniiDiiiiiHiii'iiii!
(Investments
Baker, Ayling & Young
JOSEPH W. a WAIN, Jr., Mnnacer
Land Title Bldg.
Boston PhiUdelpha I
III
Bonds for Investment
Circular Upon Kmum
The National City Cc-tnoaav
Correspondent Oflcit In Over 61) Ctl
Atlantle City jgafl llnarrtwnlli
Merion & Rsdaor Gii & Elic.Si 1954
PbiU. Eire. Co. 67p Notei 1922
Soulb Shore G11 & Elec 5 1933
Ihrwood Elec. Co 9
Am.ricin Gn Co 61 2016
Georgia R. & Power 2d Pfd. Stock
Reed A. Morgan & Cot
Mr iiben (if the phlla lltuck Exch
HVjf Kntt Tntat JiUlg , I'hUa
West l'enn Tower Ifd.
American Gas 7h, 192?
Standard Gns & Elect. Gs, 1935
N. V. Central First 3Vs, 1997
HENRY D. B0ENNING & CO.
STOCK KXCIIANOK aUIJ-OlNO
Dlreet I'rlrute Telephone to New Yoi
llember. I'hila. Htork KiebaPtt ,
a
k&
Hhf
K
tfr mi v n , 9&i,n.r tf Jl rfi.