Pktbfr" -wsi SSS I v- J' I S( - :g, R V 14 EVENING PU!BLIO LEDGERr-PHlEADELPHlA', FRIDAY, AUGUST 26, 1921 gWJ3! k ,A - t; &?'" K. f fe H ; v v. $100,000 Lehigh Valley R. R. Co. General Consolidated 4V.1 Due May 1, 2003 Tax Free, in Penna. Secured by a general mort gage on the property of the COmpnny, subject to under lying Hens. This issue is listed on the New York and Philadelphia Stock Exchanges. Bonds sold as high as lOlM and interest on January 20, 1917. Wp shall be glad to jflvp further information on request. Price: 79 and Interest To Net 5.71 Per Cent. Biddle & Henry 1 04 SOUTH FIFTH ST. CONCERTED DRIVE AGANST Cleveland Electric I Illuminating Co. 20-Yr. 7 Sinking Fund Debenture Bonds Duo August 1, 1941 Price 96 Vs and Interest One of the strongest electric light and power companies in , the United States. j Bonds Non Callable until August 1, 1931; then only call- I able at substantial premiums. ! Earnings in times of depres- I sion as well as prosperity have always provided a wide margin of safety over and above all fixed charges. Dillon, Read & Co. 1421 Chestnut St. Philadelphia, Pa. Telephone Hpruee .1080 New Torlv CblmitD Ito.tton 's'uHc'n'" E5 I j Mrk si. City Hill Offictsof J L j I ., i a. PtnnJa. a tJiACcnmy wra 1 -, i i I H303rto3v-4p s fa i i .1 ii iii I Do You know how I T to trade correctly in the' Stock Market? We have issued a book on the subject. Write for it. L-22. J. F. McGOVERN & CO. Memlwra of I'lilln. Htoek Kxrhunce 1430 South I'enn So... riilln. re 1411 Rare SIRS Ortlera eernted In nil Mnrkete rw York: XI rirnmhviiT State of New York 5 Gold Bonds I Dated January 1 and March 1, 1921; annual maturities from 1944 to ' 1967 inclusive. Exempt from all Federal and New York State Income Taxes, and a legal in vestment in many States. State's net bonded debt about 1.29 of assessed valuation. New York State has nearly one-tenth the pop ulation of entire conti n e n t a 1 United States. Estimated wealth over twice that of all the New England States. Price to Yield about 4.70 Particular on requext Hemphill, Noyes C& Co. Members Hw York Stock Eichand" Franklin Bk. Bldg., Philadelphia New York Boiton Scranton Buffalo Albany Syracuse Baltimore Swift Opening Rally Invited Realizing, but Market Held Ground Well New Vmli, Auk. 20. There va a larllcil tninkfoniintloii in the complet ion of today's Muck nmrltPt nl the open itiR. vl leh va .i''i'oinpltl)Pil entirely it tin' expene of nu owr-walum iori inti-Msl. A 1 roml niul lmt roveri.ij: niovi'inriii IpvelopiMl nt the vpi- oiitot. and befote the end of the first -hnlf lim.t parried prioei up from 1 to over B point. The spirited rebound in a number of m ditstrinl Hprclallii't ervel to cmplinaize Hip oversold condillon of the tnnrlcet, evidence of which luvp lieen unite rip pnnnr for nonie I hue A would lie ex pected, the Midden about -faeo turn in the m.'iikrt trend win followed b n.ore or les ii leeuliiritv . li 1 1 for the In if. t inn in M-vrnl week the line of lrn-U rpsi-t.tin i wus eneountered In tin itp wnul ttiil.s Teclitiic.il conditions were nlone re spnnililp tor l he pttiumitiri'ii icver.il. ns there ui little of anjtliiiiK Hi tlio liens or ileu'lopini tits to aflVi t open, lions (itner n,. 'i'he so-rall'd "tie-n'sitioii-' or "distressed'1 selling (or the tune bi'inj: at lens) iippnrentl had Pin its course in the prerfilins session I'he uiml week -end evening up of die professional alone promised a moderate iiriiny Sciie nti renin, howevei . evi dently were of the unanimous opinion the psyehologu al moment hud mrhpd for a concerted drie against the shottc. Tins piny as incited by the Iheorv thut if the bears were compelled to if sort to false ri'inors as nidicatul by pstprdny' Mexican lVtroleuin inci dent, the position of the reactionists wns anything lint tenable Then' de ductions proved absolutely correct iuug tniC from tln scramble of the horls ia the lirst tblrtv minutes of the trading. Put titer easement in int lie) market ( onditions as indicated in the lov.enug of the rail renewal rati' to ." pei ceni nnd the fuither impioveoieiil in nere ratio reported b ibe Feilernl Reserve system eie a strong nil) to the recov ii movement Another contributing helpful influence wete the f.ivouiblo '.irninjc stateinentN of the I'eniiH.iliania and Southern l'ncitic s stems. Thee not onh (onflrineil the tcent optiinistii' htatfini'tits mtioi'rnii'p the improved inilrond situation, but also j.ive inn .le proof of tie carriers having iccnv Preil contiol of opei.itini; coMs. The big fallliig off in tiallic as renuli 'f tin business depression wis reflected in the Munll"!- sn ss letuius, but this was easily overcome by the possible econo mies, resulting in heavy swelling of the net operating income Hy reason of the hasty retreat of the short interest theie was almost no ex ceptions to the rising movement during the fust hour Oils, motors, equip ments, sugars, tobaccos, steels and ship pings were bid till one to five points. Corresponding gains were registered by Mich specialties as Sear-Roebuck, North American. National Knatneling nnd Famous Players. Among the rails, lireat Northern. St. Paul, Missouri Pa cific, Roek Island. Atchison, Heading, and H. and O. gained 1 to l',; points. The rapidity of the rise unturall) in vited eonsiileruhle profit -taking and re current weakness among specialties. notably L. S. Runner gave the market a moderate backset before noon, hut the whole list put up much stiougei resistance. BETTER TOiE TO THE LOCAL MARKET Prominent Issues Made Frac tional Gains in Withdrawal of Pressure A better tone nlso prevailed in the local market. Withdrawal of prci-uie ngiunst seernl of the local Issues had n good effect nnd wns afcepted ns Indi cating a completion of ihi cleaning-lip process. At the same time there was a covering of the moderate slinrt interests, which in turn brought fractional recov i ei ies. I' f; I advanced to "D1... a 'gain of :,s. but. compared with -it's. esterda)'s low isolation Philadelphia Rapid Transit touched 1(1 and Pcnn)l iMinia reached '1T:1. while T'nion Trac tion wns 1.. belter nt "0'-. In the other local stocks tiansiictious weie limited to small lots Kbstrie Storage Hnller) losr a point Drill re mained unchanged at 'IT,, ns did United Railroads of New Jersc at 17(1. Philadelphia Stocks The Foreign Situation is reflected in the advancing prices of foreign Government and Municipal Bonds in this mar ket. Write for Letter 7334, in which we recommend five of the most attractive foreign obligations. Bonbright & Company 437 Chotnut Street Philadelphia Ntw York Chlcaao Btn Detroit I 15 Vr' H h l.' I' f rngf loll Alll Irisur 17''i 17-1, 17:',- 'i 1011 P.rlll .1 i .'. '-.' -"' .. m i:iei stor mi'. io: m:. -l IVJ I Co V A IN 2s -N .. UltltMi'x Pel HL' Hi! 01' -' 111 Pa Cent Light pt in r, !.". 407 P.i R R 37, .'17 37 Lj .Tl I'lnln Ins Wire :.o"i .w4 r.oi,;- 't 'JO Phiia c, .inn nf :n 'M 'M .. s; pi.iin Kie, iia, -j 1"... jn, lild do pref 21!', 2lt, 21! j - lh din Phiia RT It! If!', HI S l(Hl Tom. liel fr. I A I A, ."ii i'n Tine .",n.j :i(i'". nnU4- u. .",n.'i r ; I v.o'... :ifi't :ih . t. 10 I li I 170 " 170 ITii ".. 10 War IS s s s - i; Ni hanc nude lij coimn i.on with lust on Wu ' htui it Kxcli.inHH piiii.ui:i.i'iii iiomis liVm l.ibi rty ,l'..s '17 . ... s.7.."0 JOIMi l.ibenr 2d I'n '-12 .. 7 711 JilfHI I.lhert) Jill l'4s "2.s !)1 SI! UIHMl I.ihertv (th '1'is '.'is .. s; ss 1DIHI l.iheru Ith M4s -.'s . s7 ho .ViO I.ibem 4th J'4s :'.s -".'.nil 1IMI ictoi iAi '2.'! . . !in llu lliliti Hnlilwin l.oi oinotive .'s . i:! :ttl.Hl Kli'i-trii A. People . Is .".r, 7-1(1(1 I'eniixilviiuia 'I' .lots inn llMH) West N V (St P,l Is tilJJ BAR SILVER NEW YORK STOCK EXCHANGE TRANSACTIONS S'i 100 HDD Don too 100 209 300 inn ton cnn 'inn moo nno too inn ;nn .110 :ooii moo son Hon 000 000 400 ittoo 4.100 N00 J.500 400 to.ion Hon 1 no .tin mo syio ion .nno 4 00 200 12100 2S0) A00 noon 100 TOO inn aoo .ton ollO isio .to n 4nn 400 200 200 1200 101)0 200 .1100 100 LtflO 1400 200 ion 100 S.0A 2.t00 4 nn loon 1000 1100 2100 MOO Si 00 GOO rtcno 1030 2100 1100 (100 000 200 isfiuo inn 2011 ion 1 4:100 uton A200 non nun 40:1 1000 400 .too noo 100 .too (00 400 ruoo NOO 1:100 sou 2S00 nno son 400 ton .tioo 4on IfiOO a 00 2011 t)IV. In t lllth .. Advance Itumely .... UK .. AJax nubber "H .. Alaska Gold Mine... Vt 4 Allied Cnem Dye... 36J4 4 AlllvChnlmcrs '84 7 Alll. Chalmers of .... 0S',i . Am ArHo Cltem J4 Am Atrlc Chun pf... S 4 Am Hank Note SOU ..Am Beet Sugar 2H Am ran H 1 Am Can pf 19Y 12 Am Cnr 4 F1y 133 si .. Am Cotton Oil IC4 " Am Kxpres 114 Am Hld! fe Leather nt 4'j 8 m ten 52 Ani Linseed 6 Am Locomotive Am Internnt Corp. . . .. Am Ship & Com Am Smelt nnd Uef . . Am Smelters pf 3 Am Steel Foundries. 7 Am steel Fdys pf. .. . Am Sugar Ref a Am Sumatra 8 Am Tel A Tel 1! Am Tobncco 12 Am Tobacco II. !Si NO !i am , ' , 1SV4 . 03 . 40 . to.tH .121 ,11014 7 Am Woolen W .. Anaconda Copper ... -tt 0 Afro Oil 8H1 j 0 Atcb Top & Santa Fe. SS S Atch Top A S F pf .. hO1' .. Atl Oulf & W I S 8. . 21 All Clulf & W 1 S S pf lt'2 Atlantic ret II Auto Snips Corp. ... 3 3 Auto Sales Corp pf .. H'2 7 Baldwin Locomotive t.134 .. Bnltlmor & Ohio an'i A nolblehem Steel ... . 44'i B Beth'ebem Steel B. .. 4s Booth Fisheries. . . t'j . Brklvn Rapid Transit t 10 Burns Bto h.l"2 Butt- ft Superior Cop inja tnllfortila Packlns .. "I'4 10 Canadian Pacific . . . . 1 1 3 ?i .. Central Leather' 34 W Central Leather pf, .. Cerro-de-I'ascn 0 Chnudler Motors .... .. Chesapeake & Ohio.. .. Hil & Gr West pf.... .. Chi Mil & st p .... .. Chi Mil & St P pf ... B Chi & Northwestern.. Chi U I & Pac : chi rt i & r.ic :rc pf. . . Chile Copper .. Chino Copper . . Coca-Coin .. Colorado Fuel & Iron. 22 if. 4 Col & So lut pf . 4U 0 Colum Qas & i;:ec 5,ti . . Columbia CJrnphophoni 7 Consolidated Gas .... . . f 'nnsnl Textile 7 Continental Can . . . . . Continental candv . . ft Corn Products Ref... 2. BO Cosden & Co 4 Crucible Steel 3 Cuban Am Sugar ... Cuban Caie Sucar. no 24'i 43 "i 1AI4 341', 114' 3016 73 20 $ 337a .l'2 84, 13 37 H ns 34 Jt.t 13 H Cuban Cane Sucar pf 30 4 Davison Chemical . . 40"', 0 Kndlcott-Johnsou .... 87 ?i .. Krle 12?4 .. Krle Iht pf 17i .. Krle 2d pf 13J. a Famous Players L ... Sf 8 Fnmous Players L pf hOlj .. Ficeport Texas 10 .. Gaston Wins & Win.. .. qencra.1 Asphalt .... 3'i 8 General Klectrlc 116 1 General Motors OH n Gen Motors pf . ... 05 A Gen Motors deb !.. f0 .. Goodrich B F 20 "2 1 Great Northern pf.... 7114 4 Great North Ore ctfs. 37!-4 4 Haskell & Barker Car BOH . . Houston Oil 43 'i 00 Indiahoma Ref 3H .. Inspiration Con Cop.. 3n',i .. Intorb Con Corp ."' . . Inter Cons pf 9'i 7 Int Harvester new. .. . 73 Int Mer Marine 7J 0 Int Mer Marine pf . . . WVt .. International Nickel.. 13'i .. International Paper .. 41 V2 .. nlncib! Oil Corp... f'i .. Inland Oil 3n .. Kansas City Southern 23 H 4 Kansas City So pf . B0 4 Kel'y-SprlnefleM Tiro. 3S'4 . . Kelt ev Wheel 80 .. Kenneoott Copper ... 1 7 '- .. KevMone T & It IIU .. Lacknwnanna Steel .. 36', Low ll 17!4 V, MV 3'4 J4 A3 mi 2 24'i 78 Vi 120 10'4 114 4,tH A) 17 J4 Hi 2214 64 304 (3H 20'a 7M4 noj, 3ft 10SH 1I0H 110V4 (10 Vt 32 J, no4 X4Vi so 1,4 201i 17 'i ion 3 II 71H 3S4 434 404 '4 it's S3 Vt 10H HI 1I3U 33'. BO',; 3H4 41 BC'j IB? 24 H 30 14 C434 311 73 84 20 32 '4 I-!", 40 U 62 Ja 3'4 84 12J. 311 1 4 H (14 ! 23 Bt 12 H 7n 17 4 .17 4 Sttyi 12 'J 1714 134 Oi'.l 80'i 10 v 41" 114 '4 r.4W 00 20 7114 3 Hi 40ii 42 2H 2014 3(4 014 701. 7J4 3014 124 40 ',4 h iy2 "2 Bll :'3?4 B.t 17 101. .70 a4 K. 1 80 Net P. M. Chr. 1H4 4- W 17- H t1i- H tOVtT 6814 38J4 4 3 - BO 14 38 r 38 14 4 70J4 f 133 H f WW 114 - 48H4 83 184 en J 2.V4 W 311. 3?b- 33 f 4- 3914 4 lot'i 131 'lift', 4- W 3H J4 1H i 14 3 14 3i Id a Salea In I 1300 S.B0 890 10 ' 1 300 7 100 30400 100 100 1 P X 380(1 i.eo 100a 100 BOO 700 wo 100 400 A00 7 100 4 100 100O 5 100 WO R WO 2. 80 r.oo w '-4 Vi 11! ih Lehbjh Valley 49J( Louvre Co 1114 Loft Candy 8J4 Manhattan 13Iev iruar. 414 Marlln Oil 13 Mexican Petroleum .. 03W May Evpt Stores..... 76 Miami Copper 18 Middle States Corp... 10j Mldvnle Steel 33 Mo Kansas & Texas.. 1W Missouri Pacinc 18J4 Missouri Pacific pf.. 0 Montgomery Ward .. 10 Mulllns Body 19 Nntlonnl Acme A.... I4W Nat Knatn A Stamp 3014 National Lead 73 Nev Con Copper 8 New York Central.... 70W New York C A St L. J l N Y Chi & St L 2d pf . CSJa New York Dock 3614 New York N II & II.. 18H Norfolk & Western... 84 North American 85 Northern Pacific 73W Okla Prod & Ref 1J4 Orpheum Circuit .... l?i Pacific Oil 33 H Pan-Amer Petrol 42 Pan-Amer B 38 Panhandle pf 08 Pennsylvania II R. . . . 3714 Penn Seaboard Steel.. 7W Peoples Gas ChlcaRo. B34 Pcre Maiquctto 18 Philadelphia Co 27 Phillips Pet W4 Plerce-Arrow Motor . 10J4 Plerce-Arrow Mot pf. 33 W Pierce Oil 0 Pierce Oil pf 38 Pittsburgh & W Va... 343. Pitts Coal B314 Pressed Steel Car. ... 86 Pullman 93 Punta Alegro Sugar.. 20 Pure Oil 23 Rnllwnv S.teel Spring. 7014 Ray Con Copper 1194 Reading 00?4 Reading 1st pf 37 W Reading 2d pf 38V4 Republic lion & steel 4SH Republic Motors 8 Royal Dutch Amcr. .. 48 St Joseph tad 10 14 St Louis San Fran... Z3H , st Louis & Southwest 23 St Louis Southwest pf 33 Santa Cecelia Sugar 314 Savage Arms 9'4 Saxon Motor 3 Senrs-Rorbuck 03S Seneca Cop Corp.... 13?1 Sinclair Oil 17i Sloss-Shefflcld 3214 1 Southern Pacldo .... 7fi?B Southern Rail 19 Stnnd Oil of N J pf..W0i2 Stromberg Carb 2014 1 Studebaker GO H 1 Submarine Boat Corp. 4M Tenn Cop & Chom R' I Texas Co 34 W Texas & Pacldo 22 t Texas & Pao C & O. . I3i I Tobacco Products .... 5$4 , Trans Con Oil Union Oil 1 Union Pacific I Union Pacific pf... United Alloy Steel. United Drug CI i United Fruit 104 ; United Retail Stores.. BOj; I U 8 (' I P 4 Fdy pf. U S Food Products. . I U S Ind Alcohol.... U s Realty & Imp. .. U S Rubber 1 U S Rubber 1st pf... V a Smelt & Ref... . U S Steel U S SUel pf Utah Copper Vanadium Corp .... , Va-Car Chemical ... Va-Car Chemical pf. Vlvadou Ino Wabash pf A , Wheeling & L K 1 Wells Fargo F.xpress . Western Maryland , West Maryland Western Pacific I West ins house u & M I White Motor While Oil C'otp Wlllyn-Oxerland 1 Woolworth F W.... I Woilhlngton Pump . I WoithPump pf B. . . 1l idtlld r,'. IBM 1014 ; 22 40 I J "2 4KW 44 H 44 S3 37 74 W 1011 i 43sa 30 Vi 33J-4 (J51-4 0J.4 20 !i 7?i 88 U d pf 1814 . . 21 41 33 S ?4 10(i 3114 84 Low 49 1H4 4114 13H 8614 76 It 10H 33 H 1W 17 3SH 16 19 14 Vt 30 73 9 l14 61 6814 2614 18H 84 63 70fi l?i 17 3 Ji 4014 30 68 37 7W 82 14 18 30 1914 8W 31 U 6 38 34 ?i 8314 48 91 26 31 74 78 11 W 68(4 37 38 14 44!4 8 46J4 I0t. 31 i 23 32 3'i 0'2 3 6014 13?', 10 3314 7014 18 106 4 301,4 67 4 OH 33 U 32 'j 1014 8714 W is 11814 68 33 47 10314 4014 4(1 1814 4814 44fc, 4 1 '4 70Ji 27 7314 10014 43'zs 23(4 32 H iW 0 10 7 88 8 181-4 21 40 1; S'J't 7 .' 104 U 31 H 54 1.30 Net P. M. Chlte. 48 UW ... 814 W 4814 14 I1IU1 jL 9214 314 70 ID 10 X3Ja- iw i8' r- o'4 -r TM 30 V l!4 t n li 3 3 w Vt I w IH 3 1J4 16 in 14 W 1 30 f i t. n V 70W 61 65!i 3614 Y 14 94 66 72 1 4f 18 1 3414 14 41 4 14 38 I- I RH - 2 37 1J 7W Y 62 Vt 18 26 -1914 10 21 n OH f 38 34 6214 80 93 2(! 33 W 7814 37 -3814 48 4 8- 94 14 14 ' ii Hi V 3 1 " l'i V, !4 14 'l !4 48' 11-6 1014' 32 33 32 214 . 4- 01 13 17' J 33 Vt . 76J, 18 106 14 3614 r on 4 6- 34 4 22" 4 t- ir, 14 ; 8S . IS - 16 '- now I 65 32-48!4-104 4 80 40 t 1814 40 Y 44 f 41 -70J4-27-7414 4 I0DH ! 4314 1014 4 2314 ' 18H 1 2014 7- SS -0 1514 31 41 ! 3214 i 7- .".- I Oil f 31 i- 54 3W 114 Vt Vt 1 w 314 U4 1 1 Vt 114 1 314 14 1 14 1 Vt V 14 '4 ! 14 W CURB ISSUES. OFF PROFT-TAKNG Oils Less Conspicuous on Early Show of Strength Mines Moderately Active New York, Aug. 2(1. There was a marked improvement to the speculation during the curly session todny In tho curb mnrltet. Interest centered In tho high priced issues, ninny of which (bowed Milistniitinl ndvnnres of from a small fraction to intire than a point. Refore midday, however, considerable! realizing developed which brought about a reactionary tendency, although, In ninny of the shares, subilantlul nd vnnees were shown over Ihe previous closing. After midday the trading subsided to a considerable extent, with the oil stocks less conspicuous. Standard Oil of Indiana wn in ur gent demand nt the start nnd, nftcr advancing 1V, Inter cued off fraction' ally on profit-taking. Anglo-American Oil ruled about stendy. Klk Hnsin was tinclinngcd. Cities Service common moved up n point on smnlLdealliiKS, the preferred stock ruling nroiind the pre vious level. Merritt OH. nfler a show of firmness, rnn'off fractionally. Mam caibo, after a slight reuction, developed 11 (inner tone. Cnrlb Syndicate una unlet nnd unchanged. ' Cleveland Motor, after opening down a polnl, rallied slightly. Arkansas Nat ural Una showed strength In the early (leullngM, advancing nearly a point, hut later lost the greater part nn profit tnltlng. Cnr Light nnd Power wns stronget. while Acme Packing, at one time snowed nn upturn 01 lie. Unod year was down n point on small offer ing. North American I'ulp continued heavy. Glen Alden Coal, after nn ad vance of u point, eased off slightly. The Radio shares were heavy. Farrell Coal continued under pressure. The mining stocks weie only mod erately active. The exception ' was Kurekn Croesus, which showed con siderable activity and had an Improve ment of about fie. IMlTltl.l,S Blah Hrlt Ampr Tnh .Aim. ML Carlisle The . . .".'. 4 ( oluinbla Emerald . ... 04 Com finance Til Cum t-'lnanco t'ref . . . . 7S l It a pref -n Kmulrn food 2i I'nrrcll Coal s lllf-n Alden Coal .1:1 (loltlwyn Pictures 3'i North Amor I'utir a- i-aison Auto 4.', Perfeetlnn 'Pii sr. Hudlo Coin Kt Hnritn f'nin nr.f ill. Mouthern C & .. .'.'.'.'.'.'.'. i WCKIH I'O ".IS odd ship . . fix ' H Dlatrilmtlng L'l"1, ' s 1,1. 11 ,i" U a Ship Corp . '.'.'.'.. in ninain . . l"i 'nlird PrnSt .Mhnttn,. 11. 'ntlAM lli.f I'nnlu ..&. Vet EnU Ctiem ."'.'.' . . 811 STANDAKD OILS Anglo-Amir Oil If, Atlantic I.oboa I StniAl Oil of Ind ilT't I.OM 11 III ua 8 A Commodity Markets I ii, it.. in liif ! -r i . 'i liri.. 1 ,i NV Yorii toda- m' 111.1 pr line ihim . i -!rn. !-' - -I,'r 'I1' ,r l' ,n LiMiiinn -iir pi few d 3iil h iifi-lln of Si. Reserve Banks' Discount Rates ItP lal red m-ounr alf t lho t V PJ eral Keftervi IlHnkH Bre km fn'Jnwif rum I. 'ti rom I nir mi oonn ponton NVw Tori. I'hlUrlelnh k i levelsnd It thmnnd Atlam.i Chiedsn Pi liu Minniupo'ii Koi hii i rm pn I- i am inei Ltfi bnmlii piiir ccnt U A'-s "i' ,1U r.S a r, ii (I H l ' W f'l s'4 H n it A II I 1 . Si II ll n m, n V 5' ii s a I, f M, Advance Rumely Cuts Dividend i hifsso. A'JC -' .-ianifr llurrif -li -.in jni imoul iT-d i i . rjunrteilv il , nrf f 7(1 enti nn rrfrrd narv nc. lorn 1 m b"'dri of ren-rd hptemper is in vivid ef ih uum II so .md tMued a tstrmttft thst th company cli pnt,on ti itrontur than tlmald lant oriimbtr. nd th- sipecl to eonttnut on 8 pr cent ..hl. "until th lmflrnvm,nl In enarAt hul nut warrants rtoratlqi of ths regular rate." Mf' - ti (V T GRAIN MARKET Chicago, Aug L(J. Wheat stnrte.i with Seiitemher unchutiged to li high ii. llecembei '4e highoi and M'n nn ehongiil to 1,1 higher Trndu n- ipilei nun Inning b nn EnMerii houe nnd nl m uttered unimportant "ellniK. L pint puinei.4 wui again of tair pro portinn rt.'j ln . and llnre was a'-n onn- r.e tiiUen Spring wheat an nifltkett' continue firm, and winter wheat ofTeiitiKs are lighter. Com opened uurliuiiged to l,c higher There vai bu.Miig by a liouie nli ea bonril connect ion, and overnlsht ih--iniind for coin fi.r export i- n polled u show nig increii'-e. Oau opened urn Imugeil to ii- higher, witli an F.iiitern house buying. COTTON MARKET New oik, Auk lid ("on-odei .i..- the 'eiikne nf cibb's. the cotton uiiirl.et had -i n'ty cteadv openiiig toil i l-'n-t riirr "hn'ved 1 ro Hi iioint" ml hi-. bill the n nrage dci lltli v (! Miiilll 111 eniiiinrNi)u with tie shnrp d'-'ine m Llviri-ool To -onie extern the i.:iii'ii nets hue wai due to the string -inel, mn'ket opi'imig and xtippoit fimn .1 i t hmh. Lim i puol and New lir''.iu in ti rets. TI." re was heav uninmling h nvm triideih toi Unfits, bll' the ot"n a ulivirhed hv fomniishlon hotiae ami, nftei ennlng off to M.ST. Ort'iber i al lied bt'.i k to lllll in the tiit tifieen minulfs. Soir.e of the earli - lling w,tf Iik-iI mi reports of pnrtlv i In uly 'M-athei in the Southwest and n' i-len -i'l? In tl.e KnMf-tn belt Al m end of Mie tlrjt lifteen niinutes the mai i;et was till ncthe, with prlfPH about 5 points nndei lait night's dnxe. The Soiitiir-rn 1'iodii. ts Co Nuied a reKiit milking the (im.Iltion nt ir.ttnn .11 0, and eitiin.iteil crop m " 2,'iii.iHh) bab'i.. Till". i a decline of L'.'l pointji tor the month. lii'-eipts nl the ports for the day nie cnnuiled at Iti.OfMl bale, ng.iiiit week, ( 1 i bale, a fill s In IIILI. 1'rviiiUM 1 no i 'fi upi-n I' .M 14 111 1 1 -.H l'i 4H III .'! IS Jn I-, an l.'.H'l f. III! II a I 15 III If. I.'i 1.1 4T Hl . 13 9.- I,', l'i . NEW YORK COFFEE MARKET New ml. Aug li(l. The Imal rut fee fiiiurch market failed to hold Its litinness of eterda on the opening cull this morning. First prices worked lift (I to 11 polntt., September showing relative weakness, todny being first no lice dny. It was estimated ihnt fiO.iKMi lings had been tendered on contract It was Intjr estimated Hint notices ismed amounted close to (l.",(HMJ bags Htid thev were being leadih taken up l -li-ong tiade iutcietn. The iiuirket was doing belter at mid- da. prices ndvnneing about ll pninla , finm initial leveN dehpite the large niluiiie of contiRi-ti of Seiieinbci- coin ing iii nnwo in.iue a snow ut linn nbs i iinung n to (I francs higher anil nlcs ,'iOOU bags. Trv Clpti Rptnibr 2'iI2jJ Daciimbtr .it. S.B4tt9S March ..,.t I',51SgJ FOREIGN EXCHANGE New York, Aug. liti. Kates on Lon don, us well as the principal F.uiopeau centers, displayed an easier tone nl the opening today, all being offered down wind In tho initial dealing- in the loi -eign exchange ninrl;-t The Si tin diniul.ins who irtegu'm The quotations were Sterling ( ables .'! (s'ih, deuuind .'( iiT's : fianc cables 7 71. iheilts 7 7.'l : lielgian cables 7.47, i Ins ks 7 4tt ; Swihs uihls 1(1. li:5. cheeks Killii. In.. , ables 4.li7, i hecks -l.-O'v , pcM-ta cable? :ii.!N. checks l-l)d: guilder cllb'es 111 L'i. checks :U.(IH; Sinekholm cnbles 21 .".'1. '-becks 21. .Ml, ('l.ristinnia cables I.". 10, checks IMS.!, Copi uhagen cubles 17 L'i. checks 17 111. minks 1.17' Central Kuropeau exi hauges weie: (ireeU, ,r lid ; Humaniun, 1.21; Hul garian. .S-'l ; Austrian, ''-ii ; I'olish, til1,: Czecho-Slovakiaii, 1 lil'-j , .lugo-Sliiviiiu. no'-i YKsTCItHAY'S PINM 'JI'.'IATICNS Sicrllna Kraii s l,r (lul'dm. IIkii ami . :t Ti). 7 an', 4 ,n -, m Cab' II 7n ' "1 4 So'. ,11 jj TJDAi S Ol'KMMI -jl iiTATl'j.Vs Cisilliig I r. r L-i i;, fr. Dm and . 3 117 . T 7.t 4 jn us uli'm 3 lis n, 7 "I l J7 : j; Financial Briefs A ('hlcaen ItOdid or TliiIh mnmberahln 1H0 fiom tli Inn preUuim nlt. Tlii. Illinois C'onumnro t'ommiii'loii hm suihorlre.1 IIih lliinnl, 11.11 rt",'l,orie fom- alora DS ir icnt of which aooa to Hie ;VnTni.ft" Tlell"Jn" "' r.li-Braph ;o panv "nd ihv remaliid. t., harrhol.!i-ri! Coit of n.inp.inv a (xienamnM .m.l othtti lmpiot iiienis during tie ut iUb m.ui .iBsr.Vateil t)1 UU0 0011. fc" iaieu The HulnaB I'omlmt Comnnttfe of ih ,.'T ori S.,ock 'ehansa has U-iun u thor !Si ' 'nu;,,""V,0'1 ot "" "'onaou. report ... . ..,lca.r , l-trcl(.um Company had ii- ft-rrdl ItH dividend Hmironda of the iountr parnd 1174 no?. I'l. In fix monttn tnde.l with lun nn aBulnm J31 1 7V.M 7CM. . Vam. period last ii.il. """"'il' " iisurrs IUHdn pil 1 c by Inter.lala Commui.e 1 ommiaaion llnenui frcm operallon wna .',U7e 4U7 ''.1L a V"1."".1 J.V.T:' i"! '"-' "peratiiis .pen8 utnieii ai :i:i 747 nt-i i,u ,L.,.t..-. . k-- 1 u.i u.i . . ,7. L "..uli -lllil - iscisoj Oporutlrs rxpin.ni wain ss an prr ir."!., "'" l,l,'i'tiK raieiiup-, m uailnt I'd !3 per cent fi laai tkr h" six montlia' pollod I 12.2i!l balea last j ear nv u"' "s"d I Dlnlir I, i-illl. 1 1 1,1 nuai y Match la . Iui ... LIVESTOCK QUOTATIONS (liliuiro, Auir '.''1 ITI.H It.-. pi. 80UO lira. I Siad Wn ' nliiln. tmlk i.ef ati-i li."0tU ll'lIU 'a' all" atoc-l, SI'S it annrra and cuttara tataeS $'.' .10 :i r(ii hulk ladosna tulla I17r,1Ml." hutchara 11.11171.17.1 hulk i-a fh,i tin :,il-?( 1 1 . alocaria and feadi-ia fc(-r. mnai 41t!il.1n IIOGH-Ittci-lpn IS mill hand TalrK in. tut- su-udj to 1''. li teller ImlW of auln 7 4H1c ll 7r.. Top '.i nn hoavv wenflita IS lOCj n Tjll madl'im "..iichls III 'jr. SMMni: liuli' elBht ftt.notfti en itjht Mrltta M 7.1 ti U 7.1 he.iy pari. ti n amootli 7 1Vir a 1 -n-klng aowa. muah 78(7:in plua J7 7.1 O'l II.KI Itare'pn 1 nu 1 ha.nl -sheap tr'i tut nuttwt lumba pk.ii ltt.aU 'nti na nt J9. hulk ar JxluKcli no Weiirn iMtiba an'd eurb o-' -rt-dar lumba -a torda-.. 17 78. I'ltiahurKh. Auk '.-n -linos - nrlpt Jiiilii head Slejirl' ll.a i-a til 5(1. Iihjvv Kara Jin 10I i" fin iicnt joikara, in SA On liaad 110 Mt'd Ifi 111 nlaa. J 'J LMKIl Ml SIIKKI' AND I.Allllh H'-clpla top Ihmbi Id CWTTI.K c'alaa riraltita 7 Oran ,S1&87 a.n8 sinadv Ti p aht-aii .y i-ALVLH IlecalPH IDD hoad Top jr.' laint ItlltTuIn, N. V.. Aili Ilfi-tlnta .1,10 hc-Hd. Injll IV II hlichar. I,1l 14 IIO(i5 H.ralptH 4 Cil I -a ! s- ion I., .1. hlghar. Heiuy. Ji7.1tiii ii,,-d tin VSW HI f.o jnrki-ra, Jill Knu In i;ii iii.1i' ntKara in .10(110 pSJTM S'J'rfli 11 touh ID ,11) If il 7.1 huich Hra'. rlllLKI AND I.AMlis Ua. olpt ie he-ad blow aaiimaa f.Oi lowai .Hinlix I l.'l ioar, lambs t.llfn ,ln, je.irllnaa n inf7 BANK CLEARINGS Hank claarlnua tndav, tompjrrd uh ror-raapondiiia- dav laal two -ai 1021 HUH 10111 r-h 1.1 . inn.onn nnn 17.1 in.t 7nn $7 7(mi .112 Iloaton . S7.3tl 775 4Ulon,174 50 7HJ J.15 DIVIDENDS DECLARED Th William Cramp A Hona Hh'p nnd Kn Sine Hulldlnn Company, quarterly 1 ror rent ri.i able Haptrmtur 30 to atockholdrra of rc old Heplembar 15 Oran.IH Clumli-.il Company, quarterly S Pi r rant on mminon and lVj per rent on praferred. nolh ptsaiiU. Haptamber IIU li atoclc of reeonl Heptaniber 15 1 npaulliiattril Oaa j:,ntrl" I.lrfht and l'ni if Haltunnra 'luariarK .' ptr c nt I1.1 a lit-- i)rtob"r I tn ainck nf record Htp tamber 15. Naw Yot k Dili airri and Rt T.iula 1.1 on a.ronil ptaferrnl ua-abla Haplatnbar III In aiuck nf record Hrpl'inbtr .1 Paris Bourse Firm rrii Au' fi -I'flce' ure firm on tha Houra today. Threa ptr rant rrntts, 58 1 iset oxepanaa on inoon, u 110c, a par ctnt oan, Itf tie, T)) dollar rs quotad at a. vvw S-oulll I'orto 111,,, uiii fompaliv apfclal aio'kholdara- inic mr ralla.i . euihuilr.. -in nuc-a-a In Ihn niefi.irtd aim., from $1 000 -ntami-."""".'-."", h,,B.b--n "'""""n'-l nntll ,-.... . . .n,,ti iMuiiiaiiam h tem porary iinler of il fbanclloi Mavanaon !' '" "'7 an" nnoiil-ra I'UIII MI'll'R To ihrt inopoaisl Increaae of vrafarrad alook. ,r';,"l;'.l'iU,,i llnl, '""' C.iiipnin for lha .1.- .......J..." '"' 'Ullil .111.1 depiarla Ion f ISiJISS. Tli's (m.,r-a with aut I u li'foie diprei-l.itlon if 1.11)5 .127, in th .l.y.n..,i"s..,J""l',,; .""J " "1-.571 in nm .o,.w,iuiiia cviiuil 01 myo. ,r,T" iF prlca f uwV a,.m nrUB. trial aticka aitwmced nl i ar rif. uat,.iriav ,"..."J,.",,.tthl1- ,h" '"""'v inilruad.'adl - UtK !". ,U VVt VCII I I (J f U I . aiTm iN'W y."rl(llSll KulMnire haa sub ai'iuiad up thn ,i iir,,,,,! Trunk ltnllu (.omprfm of I'anuda U1 nun nno ient"."ar 1 Ptr e.nt alnklnir fund unld m-la-iiiui-H boiulu I.Tad0, '' ,iV"' '" ""ll "f WHMBm'A? Itoad & in Intarim i.ituirataa foi th lama a.runtlan Ilia pmlitnini has re tlt.c! appll. anon 1.1 Pat 1'iortuiara and Itifln.r, Nirporullon $'J Hill I..10 , iinul.itii' ,,r"f..rr.d ,'.,,!"' "nl '-"nv.;ltlbl no, k and Slll)l. '" luinniuii alock haiilal A Siawari I,h ra.iunad fnini tha Hoard of Iiliacmia nf the (iuarantoa Trial and .suit Dapoalt I'oniparn r,'"M") Jru HillTa . Jlncliran-i ,, n I J'lt.nurvh leinirta 10 Inf-ittdio ( nmm.T 1 miinilaal'iii ihiul .ek of AuBum 1277 1113 J.,8 ,,,, , ti '."!.. -L",""'1" ' '"''"IIVO da,, J, ., Tha ciiiLiiii. .si,.K i:x,ia,,ar. mil rin- holl'd!,"" '"I'"'"""'- I 'rnililna a t , . p" MONEY-LENDING RATES M'.JV YORIv .tnn mi ,al! l,t, t,,a8 ;f roll,, eral npan-d t.lai at 5 par cent for landlnir and tananihii Tha money maru aupet rlclallv attain ahowad an malar condition todav nnd rail lean on tho Stock Kxiliature tencwad nt .1 prr cent, tha low flirure showed atarda while uutalda monav una aaln avallabla at t'$ par rant Time funda ware nominiil at a. tn n pr cent In Ihe larr fi w dava until today n comparatively laraa ainoun t of tlmp ni'inay haa boan nval.ah'o at r, pvr ,,,n, ToJav the market was nominal with laaa "'.roy In aia-ht at 5', per rant in il oai cent I'ia-ie bank anaptineaa n.r nulu and un- iuikoI ,1 men-ontli. paper I l naaa cntilmu'-a t" ht lor, on i ti b rata ., ala a' IP. tn il pfi t. the laai fm lnni iiiiitijritlaa tuiil at ictlvn nami 3'J a 'a a. 4-J K4 IS 5S 'k 76 LSO r. ai. it". 44 114 115 78 t5 am i 15 It IIU INnni'BNIMlNT OIIJ4 Arkansas Nut Gaa loMon ominit Cnrlb ind . . . . Cltlaa HrrMca pref i-IK Jioein i-ai . .. 1-Vdanil Oil c.llllland Oil Int patrol .Maracalbo oil .Marrltt Oil Merlilan Pet . . . . No Co .Oil p'ef . . . . N'oble Omar Oil Halt Creak Prod Hlmma Pat Skclh Oil Taxaa Chlaf ... . Wilcox Oil MINIMI Alaaka III Columblu lute L-oilgi- Mnaliin & MnnlanfL Camlelarla Mln Cuna VlrKlnln . . I orlaz Kllar Craaaon Gold t'leaennt .MniNamara Kuraaa croaaua llnlilHMtil I'l.ri. . (told Xona . ... llurinlll Dlvnlr 1 tmln Hniimt Nut lu nn I Till .Mplas.na- Hay Hercules Tl.. v I ', ,n . 'I'onupih Ilalmont Tonnp.ih 1)1 Ida . Tonopah Knlan.slun 'I'onopah Mining i niifcfi i.astain t'rrited Varda Yukon Hold .... llOND Atnrrlcan Toll 7 I una Aniellc in Tel 0a IP.' I Anaconda 7- IH-li Hath Stf el 7a 111-'.' Hath St.a! 7s IICR lloth Steel 7 Itiifi i 'an Nat lt m 7a Coppei Kxpurt aa IU1-4 Copper I'.xpnrt as lui'.l Huniblo Oil 7a Intarboto 7a l.lbby McN'aili 7a N V N II ii 11 Is Sanra-Ko. buck 7a Houtheni Itv Cl . Stand fill N Y 7s lliiM Stnnd oil N Y Stand ull Sun 01. "a Mwlft 7a in.':. Bwlft 7a ItiHl llarllua la lluaslau In Sw la- .Vy a I l!'J iii.-n n'js .V, a M, 1)11 3. 4 I '-j 5J. K ii j. T'a 12 a'n 20 1' l'i II 20 24 IIS -.tl -III HO H, 7 a.t us in 20 211 Sit 4V. IS 8 l'i 71 'v ..7A . II) lola pk nn'.i nii't tiss H5 llM too', 1011,, IIT'S, 77 U.l'a aa'l lia'i l)7i 11)2 'a lO.'i'i 11104 II7'I ItlUj II SI' 7 IH 44l r.J l'i IS M't, 17 7H 12 IVi 20 1 ' 34I V 40 ho ai :t7 10 IK 55 4S IH 8 l'i (III I.'. H. -'A 21 III lilt ttS , IMS llll'd IIH. II' 103 lllll'i 10l. 7HH 1)5 saji iin'; 117. Ill 2 Hi (1.1 W 8 4a; 5 1 1". 2i 58 22S 1 tD 27 IA 5 7ft 15 11 mi a' i CP , a. i 44' ' il-l. l' to 12 a i, 211 W. I". (I ; in, i 118 2.1 411 80 .12 3M 1(1 11" 2'. .Ill 4 18 l'i 71 I.'. P. '-V. 21 114 1 hum. ii2i; 117 S loM, I ss nilW mvj, i III! 'I, US'. 115 111.4 1 0 tuts P7 77 1)6 n2 i ON' H7. 1UJ. 1II5S ' 10114 I PUS ' 117 . I 111, ' " I LOCAL MINING STOCKS TONUl'AH STOCKS Itlil I'HII.AriKM'llll all pr , ,,,i , 0 par rael mmia-. ,al i apar three to rlx rocnl'.i, n pei cant Nolo- Tline are maraly nominal nuni tlena. th laaal rata of nteratt In tha Stata of PonnaHvanla belna ned at ! per rent Plqa pramlum and eommliilon. time money for thirty to ninety dava la loaned nt 8 to itU per cent, wflle commercial paper, from thirty In ninety daya, la loaned ft 6 to SM par i 'a ah llu . . llm lliiiin MniNnmnr.1 Crea ant .lldwn M'zruh Kxtraton Montana North Wai rtoHcua Kiba 'Innupah liit.nslon w.-n r:,i.i Waal Ton DIVIL Allied 1)H Alto D-, llflihur llelcht-i I-.ktinalou Hen llur llrniiEh nil Ilild 1 xt Dlv Con .... niildand . .. llaM IUv Itnablmli-k nigh nu Knot l(. lull IIU .. Si tin I mid Tunopih I'll Tun ilaibrouik Vktory Dlv Valila l .ohm Pl HI .'i7 14 OS 14 08 . . . 1)4 0,1 21 nt ,', 75 (12 STOCKS niiU 02 Ill 02 '.'.'...'. l)(! 28 03 (II 01 02 Ill 10 n3 oil, fill 02 nl li.' 11 I tiOI.DI-'IKl.l) STOCKS I'lii. Booth I niiib c'rai kerjni 1. IMumr 11 li rioii'le a ilnldf Con fluid l)at lloldf H-il' clr.at ll-nd .lumbo Kxt Kc-wauaa Ited llllla Slliai I'Pk Hpajrhead MISC1JI Aniparn Ail. Cnitrd Caledonia . . IMrn . Ihntna Sllier llurekti Croaa Kuiaka Holly Itarlu 1'nthar I.oda . Nov Hill N W dei Sue lean T. mp.1 .Mm Whlta rap Wllbtrl III .'...".. n.1 nl 37 mi on 01 'a 02 OX .n2 . . . now nu 02 iI.ANEOl'S 1.111 Ill (H in IH! at 01 Ill 6 37U Ill 17 0 (17 05 ... 01 Aak-,1 .01 (18 111 .III 1,1 till 07 .07 ..'.1 .'il A ."i .1)4 .01 .11.1 .1)2 .nil .lio'a .08 an 0.1 .U.I .112 .11.1 ril .H2'v .71 113 .02 .03 13 .lllll, I it 112 .311 .118 .0.1 I).!1 .113 111 .11,1 111' .11 .11.1 1 30 tn III 20 .0.1 33 .111'. 04 1; THIS bank's consistent growth is the' best evi dence of its worth' to its depositors. Central National Bank of Philadelphia Chestnut Street at Fifth Capital $i,coo,ooo Sttr)Iu5 and Undivided Profits Eamrd1 $4,400,000 f $1,500,000 Mercer County, Pennsylvania 5l2 Road Bonds Due Serially 192. to 1950 t Total Assessed Valuation (1921) 545,002,023.00 Actual Value (estimated) 100,000,000.00 Net debt (including this issue) 1,739,000.00 Katio of .Net Debt to Assessed Valuation, 3.86 Per Cont. Population (Census of 1920) 93,783 PRICES TO NET 5.25 Exempt from all Federal Income Taxes. Free from Pennsylvania State Tax. Harrison, Smith & Co. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA LOMBARD 6100 The fundamental factors in the Present Railroad Situation and their application to the St. Louis & San Francisco R. R. and Rock Island are discussed in our circular PL-435 now ready for free distribution. iier J. Schmidt L Co. Jitmbsrs Canrolidated Stock Exchange of.NevYork PHILADELPHIA 1323 Walnut Street HtonenB?l,Watmit4660i Keystenr.Rac S781 NEVYDRKt 30 Broad Strtcti 319 Fifth Avenu 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 Boiton Detroit Cincinnati Columbui Toledo Akron Youngitown Dayton Denver Colorado Spring OS .1111 .on InvestirjatlntJ "Mexican Pete" Break Nr VirL, An 211 -In U InMii'lsntii.n i.f a l)iak In Mlcan I'ttrnlmm fti fa! report rari1lnr the impn'a iiii, cl'ricl hail b" dliifmlnateil by a ticker in i. r the Nei' York Htock Kxohanxc- t iI.ii ciiectered It inemter' lo report then trnimiirtloni In th lock ytiilerilav r.'t the day titfore, with tumM Pf cllnt, prlc-cgatH ollur dtIJe. ,th ticker "rvice cLIme t lmci ,tfit Meeelved pr a telephone rrmxio, HJ it ehle annneelton. the nrilee nf V. exchtnf '.r liWorrnetlon ai let ehort and Ion ;SMfT"" w "i ! Ballimore & Ohio How will l'"' road btnefit by Gov ernment .(filiation? How uiill B. & 0. Stock act mardelu'ise? il c Bay or Sale? Then and iiwm ntln.r Intereatlnic iiue.tlnna urn 'lircutudd In u romplnle nnalvi n Iia Juai prepared Tnuee wtm are Malclilni? thla papu lar lam ahnuld is rite for a FKKR C'OPV TODAY MBLTONHEIMCO STOCKS'FOHtlGN KXIIANCEBONDS ' MtMBawa." ' PHIlAOHPHIA,STOCrieKCHANO&. CONJOllOATeOHTOCKOlCHANCUM 1G22 Chestnut Street I'lioneai Hell, Hpriice KOI 1.4.3.1 KriMonel Itarn 7S0 11 llroailua.v i. m ftlh Ate.. N. Y. glumford, C111111, .Snrlnullelil. Miiaa, llot)pkr. Mute Adirondack Power & Light Corporation First & Ref. Mortgage) 6 Bonds Due 1950 A long term hydroelectric light and power bond secured by mortgage on all the prop crty of the Company, serving a wide area including Schenec tatly and the intensely indus trialized region of the Mohawk Valley.' We recommend these bondi for conservative investment Price 86 and interest Yielding about 7.157c Complete circular on request Harris. Forbes & Co. Pino St., Cor. William NEW YORK PHILADELPHIA OFFICE Wldenor Bldg. Telephone Spruce 7040 Foreign Exchange Explained Ath for Frf Innhlet F-2 Wm. H, McKenna & Co, 221 South l6th St., Phil.., F 4 Kardos & Burke Inveftment Securities Government Bonds Forelan Exchange Foreign Dondi Inquiries Invited 1424WalnutSt.,Philadelphia Phone; Spitice 6397 Mew York' rittibutfti Chicago Baltlmoie bireo PWiaia Wlrri ? I'ditta.-Ohio Ir. & l.t. V; I940 Johnstown Traction Tih, 10 IJ Amnrlciin tlaa Tn 109' HENRY D. B0ENNING & M ji ttffiriisess cw ;hM ifr-fifti. , .ii' ,! rij - rtto. f.'.fe;;.
Significant historical Pennsylvania newspapers