WW 'W MMUaA ?ir --VT ivrj' -4(s!' ys -'M ' V . a i!"' Hl x.rwa f- -v EVENING PUBLIC LEDGERr-PHILADELPHIA, FRIDAY, SEPTEMBER 2, 192r ' 18 fefer iiitf. V. ,L R'Vv..' K 'ii- r g m 1 ? m it. 5' It m & IBw V Station Sr-rT I """" "' II vltjfllaii I i,; Office of j j . c afrWovrrn g p 3T ' WlC0MS tt 1 I ' I HWAtooSv-M Do You Know how to trade correctly in the Stock Market? We have issued a book on the subject. Write for it. L-22. n J. F. McGOVERN & GO. Members of I'hlla. Block Ktehante iso souiu rran sq.. num. it 0410 Itnfe SIM umti necnten in nil Mnruets New Ynrkt 32 Ilrnnrtvvny' HASTY RETREAT OF T SHOR INTEREST Bear Contingent Evidently Deemed It Expediont to Re duce Commitments Philippine Government pVi Public Improvement Bonds Due 1941 Exempt from taxation by the Government of the United States or any political or municipal subdivision Legal opinion of the Attor ney General of the United Statei regarding these bonds will be sent on request. Price to Yield Sy8 IT rife tor Circular Bonbright & Company Nm York llonton 437 Chestnut Street Philadelphia rhlrngn Detroit .if 1 PHH!3eW Spruce 8200 IIBERTY BONDS VICTORY NOTES TREASURY NOTES CERTIFICATES fiECCItlTIKS DEPARTMENT Commercial Trust Company Mrmbrr rwlernl Keserre Sjntrm City Hall Square, West Inquiries Invited About Taxes on German Currency German Checks German Bond Coupons ROTHE & CO. Member! Phils. Stock Exchange 1111 Stock Exchange Bldg. Bproce 2483 Investor's Market Almanac A record of stocks traded In on all exchnngen Over 270 puges of complete and osaentlal Infor mation and statistics. Sent free on reque.it MILTON HEBNt'CO STOCKS-FOREIGN UCHANGEDONDS PHIlAOttPMIA JSTOCH EXCHANGE-. CON30UOATCD STOCK EeCHANGESJl 1622 Chestnut Street Phoutki licit, bprurc MIUl-Mi-l Kestnnei Hare 730 74 Broadway & 48!) 5th .r, N. Y Htawrnrd, Conn. bprlncllcld. Moss. Ilotjokr, Ma. Now York. Sept. 2. The short Inter est evidently either found It compul sory or expedient to reduce Its com mitments over the triple holiday. Tho result wn today's stock market did the unexpected. Tho majority enme down (own prri'nrrd to witness n HstlcKH mid pagBlng prc-liolldny mnrkvt. To the contrary, and mtteli to the surprise of many, we lit. rprcinlly tlie Industrial division, .started to climb from the out tot and continued to do so during the remainder of the forenoon. To make the situation more uncomfortable for the over-stayed shorts interest, a num ber of the pool managers bid up their favorites vigorously on every attempt t cover. Hy midday the active specu late c favorites ind others in the In dustrial uuiirtor showed gains ranging from 1 to ." points. The rails did not do much, reliving only secondary con-M-rutlon. When they did move. rtiev were run up with alacrity, as strikingly shown in Northern Pacific and St. Paul preferred. It was not necessary to look bevnnd the four walls of the Stock Exchange for reasons for the animated upturn. It was hasel solely on technical condi tions, although constructive elements were not lacking in the news and devel. opments. On the other hand, if the luuu-s'Moiiai contingent mid felt so dis posed a fairly pood bearish argument could easily have been made out of the Mexican advices telling of President Ohregon's special message to Congress declaring tnat treaty with United States Is impossible In that it creates Kiier-lul privileges for Americans. This bit of news, finite of different eolorine from the hull pap put out yesterday, upset me .uexican oils for a time, hut tho in cident was promptly Ignored by the gen eral list. Furthermore, the bear con tingent before high noon was reached had reasons for regretting Its inac curate early measurement of the market temper. In the weekly statements of the Fed ril Heserve systems further encourag ing testimony was supplied attesting to the further consistent improvement In tho bankins situation. On the amc line "f thought considerable bullish ammuni tion was derived from the cotton crop eiwrt. which was interpreted n.s n life saver foi- the hard-hit Southland. Then there was no further tightening of the riir.scstrlngs In the money market, us call loan renewals were again fixed at per cent, tnat rate applying niso to 'mum extending Into next week, there bj dissipating all fears of slight tlurry because of the triple holiday. All of these factors, of course, con ributed to strengthen the list, but the i eater influence existing was one of clf-preservatlon. The possibilities of nine big stimulating factor turning up ever the three-day suspension natur ally made the short position altogether loo hizardoiis, opocially when tho larger percentage of the trading con tingent had n bearish sort of Kaning. LOCAL SHORTS ALSO SKITTISH Both Electric Storage Battery and P. R. T. Scored Sub- stantial Rallies The local market had two prominent -trong spots in Klectrie Storage Uat tery and Philadelphia Hapld Transit. The first-named registered a gnln of IMs points, advancing to 10(1. The lat ter was nearly a point lower at 17, and points above, tho low mark of the week. Possibly It would ho entirely i-afe to soy that the flarebuek In tlWe two stocks was prompted bj the same influences as that whirl; raised price so rapidly on tho big board, viz.. a de cision on the part of the short interest to get in out of tho wot rnfortriinntely the improvement was not communicated to the othqr local sharoh. F.cdwhore (he trading wm strictly of ii holiday typo. Inu fact, there was v -ry little done Few shares of Lake Superior f'orporation were taken at (l't. Small transactions were recorded in Cambria Iron and Lehigh Valley. Pennsylvania IJiillrond was dull but firm. Moro thau passing Interest was attached to the stntement that the larger holders were reinvesting in the stock. This, however, in view of conditions was more fanciful than real, especiall; in view of the greater degree of safety and even larger re turn now offered by a number of high grade bomlh, of which interest payment is beyond all question of doubt. NEW YORK STOCK EXCHANGE TRANSACTIONS fl!s 100 .100 toon 53 loo 300 100 4800 AOO 300 300 400 1100 100 1200 100 300 SHOO 100 T200 1300 300 800 .1300 3000 3700 700 8300 300 100 100 100 3300 100 11000 300 100 3300 100 100 000 300 400 390 1400 1000 800 BOO 100 700 800 700 300 100 100 800 1S00 100 ton 3G00 700 3000 Dlv. n Hlsii Adams Kxprojis 4(1 ?J .. Advance rtumoly .... 11U .. AJax llubber , 18ft .. Alaska Juneau O M.. 1ft 4 Allied CTiem A Dyo... 37ft 7 Allied Chem & Dye pf 80 H 4 Allla-Chalmors 33ft .. Am Agrlo Chem 30ft .. Am Agrlc Chem pf. .. 83 .. Am Beot Sugar 28ft .. Am Bosch Magneto.. 33ft .. Am Can 2ft 7 Am Can pf 80ft 13 Am Car A Fdy 135H . Am Hide & Leather pr 48 0 Am Ico pf 01 .. Am Internat Corp.... 29H 1 Am-La France Eng.. 8 .. Am Linseed ., 10ft Am Locomotive 87 4 Am nadlator 08ft 5 Am Steel Foundries.. 33 Am Sugar rtef 00ft Am Sumatra ft 0 Am Tel & Tel 10ft 13 Am Tobacco 133ft 7 Am Woolen 73 . . Anaconda Copper . . . 3?4 Ann Arbor pf 34ft Assets Realization ... 1ft 8 Atch Top & S F pf... 81ft .. Atl Gulf ft W I S S.. 34ft .. Atlantic Pet it 7 Baldwin Locomotive . 77 .. Baltimore & Ohio 37 4 Baltimore & Ohio pf. 80 5 iJcthlehcm Steel B... 80 .. Brklyn Union Oas... OS 10 Burns Bros 85 .. Caddo Central OAR. Oft 0 California Packing .. 03ft .. California Petroleum. 38 10 Canadian Pacific ....113 0 Chandler Motors .... 44 . Chesapeake A Ohio.. 84ft .. Central Leather 37 .. Central Leather pf... 03! .. Oil & Or West pf . . . . 10ft .. Chi Mil A St P 30 .. Chi Mil A St P pf. ... 8ft .. Chi n I & Pac 33b Ch n I ft Pro 6 pf. 04ft .. Cnlle, Copper oyt Coca-Cola 34 7, 0 Colum Qaa ft Eloc... STiV . . Col Graphophone .... 3 9i .. Consolidated DIs Ins.. 4ft 7 consolidated Gas . . Consolidated Textiles, 7 Continental Can s corn Products Rcf... Philadelphia Stocks I!.") l.U 1 M. ini'i km Tii. If There Is a Market We Can Find It We hold sales of stocks and bonds every Wednes day, charging $1.50 en. trance fee for each item. Our weekly catalogues and postal card service reach every mar ket. We take pleasure in furnlshinp; quotations. bar ne3 & Lofland Muck llrnkir nnd Amtlnnrtr M7 R. Jtll 5 MiBh .'!7 Cum Iron !f," .".".II i:!ec Stor.KH! 4 Lake Sup I!", 17 l.oli Vitl . ."01, 111 Pa It U.. :is J PhllllKlis. L'J Hi!) Phlln ItT 17 KM) PhllaTrJc ."Ii MMItTex Par C & II . Ws li H l Tone I lei 1 ,',, Nm! rhuntf" melt b ' n,t t nil ,. w Vorl: SUM l'lllllli:i.l'IIIA IKIN'lls inn Lib. rt 1st ' 17 l.'llll I.lheiM ."id l's "J. linn Vimm l:tis 'L'.-l jim mo victori i:ds 'ii:i ."HIM) i:ic(tlli- h Peopled Is.. . HUM) l.idiigli Vallev general -Is.. ,ri(ll)(l Peniisyhaiiia (Pjh 10110 Sun Prim Ine (Is Net ' H7-I, To r.:t 17", 1A ii i 11-4 . . ."0:,'l :is . . 17 -r ."! . . 17-f- l ,5 i. 87 14 38 ft 00 ft 34 4 Cruclblo Steel 87 . Cuban Am Sugar.... 13 .. Cuban Cane Sugar... Oft .. Cuban Chne Sugar pf 17 ft 4 Davison Chemical ... 30ft 1 Dome Mines 17 8 Rndlcott-Johnson .... 01ft 7 Kndlcott-Johnnon pf . 08 .. Erie l.lft .. Erie 1st pf 10 .. Erie 2d pf 13ft 8 Famous Players L.... 87 . . Flsk Rubber 0 U .. General Asphalt .... 47ft 8 General Electrlo 134 H 1 General Motors Oft n Gen Motors pf 04 . Goodrich B F 31ft 7 Greot Xorthcrn pf . . . . 73 4 Great North Ore ctfs. 30 .. Gulf State Steel 33ft 4 Haskell A Barker Car 87 ft . Houston Oil 47 1 Hupp Motorcar 10ft .. Inspiration Con Cop.. 33ft .. Interb Con Corp 3 .. Inter Cons pf 8 7 Int Harvester new. .. . 70 7 Int Harv new pf 101 0 Int Mer Marino pf . . . . 44 . . Internat Motortruck.. 30 .. Int Motortruck 2d pf. 00 .. International Nickel.. 12 .. International Paper .. 4ft .. Invincible Oil Corp... Sft . Island Oil -i .. Jewel Tea loft .. Knnsas city Southern 23ft 4 KansaB City So pf . . . , 31 4 Kelly-Sprlngfleld Tire. 30 . . Kcnnecott Copper ... 18 1300 2 SO Cosden A Co. aiuu 000 3300 100 300 100 COO 100 800 100 100 4100 300 7000 2700 501) 100 200 3200 100 100 200 800 100 300 1800 400 1800 100 000 200 200 109 1400 409 1400 100 400 ' too R5000 ilk 000 Low 4H 11 17 1J4 37 ft 80ft 33 26 81ft 28ft 33 ft 20ft 80ft 134ft 48 01 38ft 8 10ft 80 6Sft 23 ft 80 43ft 100 131 70ft 84ft 24 ft lft 81ft 33 ft 11 74 30 80 49ft OS 83 Oft 03 ft 34 113ft 43ft 84 27 ft 03 ft 10ft 34 37 ft 32 ft 84ft 9 34 ft 34 ft 3ft 4ft 87 13ft 30 ft 08ft 24ft 83 12 ft 8 17 ft 39ft 17 00ft OS 12ft 19 13 ft 83 ft 9 43ft 122ft Oft 04 31ft 70 20 33 ft 87 ft 40 10ft 32 ft 3ft 7 ft 74 ft 101 43 ft 30 00 13 43ft 8 2ft 10ft 34 ft 31 37 ft 17ft 1:80 Net H M. Chite, 48- lft lift- ft 18ft- lft- K 31ft ft 80ft 1 33ft 1 30 ft lft 82 38ft lft 33 ft V 3ft ft 80ft- ft 138 48- 01 .. 20 1 8 H lft ft 87 lft 08ft 28- ft eoft-i- 1 48ft 3 lUOft-f ft 133 1 73 lft 34 1 34ft .. lft a 81ft ft 34ft 11 4H 77 3 37 ft 80 ft 80 1 08 83 0ft 03ft 34 112ft 44 84ft 27ft 28ft 38ft 32 04ft 9 34 ft 68 ft lft 3ft ft 4ft . 87 - ft 14 ft 38ft lft 09ft lft 34 ft 87 2 13 ft 9ft 1 17ft- ft 39ft lft 17 01ft ft 99 lft "ft ft 10 ft 13ft- 67ft lft 0 40 2 133 1 9ft 04 31ft . 72 29 33 ft 57 ft 47 iQft 33ft 2 7 ft 70 101 44 30 ft 002 13 ft 14ft lft lft ft y i v H "ft lft ft ft ft Dlv. Ssles In $ HlRh 100 .. Keystone T A R 13 200 .. Lackawanna Steel.... 88ft 300 12 Liggett A Myers 183 100 12 Liggett A Myers B...130 100 .. Lima Locomotlvo .... 04 1100 ., Loewo Co 13ft 600 i Loft Candy 8 300 ,. Manatt Sugar 25 100 .. Martin Oil 14 33100 iz Mexican PetroloUm '. . 105 200 2 Miami Copper 20 2000 l.oo Middle States Corp... lift 800 .. Mldvale Steel 23ft 100 .. Minn A St Louis 10 100 .. Mo Kansas ft Texas.. 1 200 .. Missouri Paclfla 18 100 ,. Missouri Pacific pf.. 30ft 100 4 National Lead 74ft 20J 7 Nat Enam A Stamp 33 ft 100 .. Nat R R of Mcx 2d pf 4 200 .. Nov Con Copper 10 100, s New York Central.... 71 200 .. New York N H ft H... 18 100 7 Norfolk A Western... OS 400 8 North American ctfs. 33ft 400 .. North Amcr pf ctfs.. 32ft 0300 7 Northern Paclflo 73 300 8 Nova Scotia SAC... 38 100 .. Nunally Co Oft 100 2 Orphcum Circuit .... 20ft 100 ..Otis Steel 0 100 .. Pacific Gas A Elce... 64ft 4800 . Paclflo Oil 33 1800 e Pan-Amer Petrol 47ft 1000 e Pan-Amor B 41 800 x Pennsylvania R R. . . . 38 300 .. Pcnn Soaboard Steel.. 8 1100 .. Peoples Oas Chicago, 60ft 100 .. Pero Marquette 18 200 8 Pero Marq prior pf . . . 55 100 3 Philadelphia' Co 37 1100 .. Phillips Pet 31ft 2500 .. Plerco-Arrow Motor . 11 300 .. Plerce-Arrow Mot pf. 20ft 500 .. Pierce Oil 0 100 3 Plerco Oil pf 40' 200 s Pitts Coal 88 100 .. Pressed Steel Car 83 000 8 Pullman 04ft 300 .. Punta Alcgro Sugar.. 28ft 800 2 Puro Oil 24ft 1100 o Railway Steel Spring. 70ft 200 .. Rand Mines 25ft 1100 4 Reading 07ft 1000 . . Replo Stoel 25 900 . Republic Iron A Steel 47 100 . Republic- Motors 8 000 8.20 Royal Dutch Amer... 60ft 000 .. St Louis San Fran... 23ft St Louis A Southwest 23ft 1,0 IT 13 38 185 130 04 13 ft 8ft 25 14 101 30 lift 33 10 IK 18 38ft 74ft 33 4 10 71 18ft 95 33 ft 33 ft 1:30 Net T. M. Chse. 13 - 14 38ft .. 185 4 180 01 -13ft 8 3S t 14 105 20 11 23 ft 10 1K 18 36ft 74 ft 33ft -71 165 05 33 ft 32 ft- ft 'ft ft 'ft ft ft ft ft Ii TRADING CURB SHARES LIMITED 7 Oft 73ft lft 10 ft 3 18 34 ft 70 ft 1 lft ft ft 1 1 3 8 - 3 f 10 ft 25 ft 61 39 ft 18 100 3J00 .. Sears-Roebuck 700 . . Seneca Cop Corp 300 74 Shell Transport . 7800 .. Sinclair Oil 100 . . Sloss-Sheffleld . . 800 o Southern Pnclflo , 400 .. Southern Rail 10ft 100 . . Southern Railway pf . 40 100 4 Standard Oil of Cal.. 70ft 300 7 Stand Oil of N J pf. .100ft 300 2 Stewart Warner Speed 33 ft 24800 7 Studebakcr 74 ft 100 7 StudebaUer pf 04 200 3 Superior Steel 28ft 2100 3 Texas Co 38ft 200 .. Texas A Pacific 23ft 000 1 Texas A Pao C A O.. 17ft lo.ioo e Tobacco Products 100 .. Trans Con Oil.. 100 .. Twin City R T.. 200 . . Union Oil 400 10 Union Paclflo .., 100 4 Union Pacific pf, 500 8 United Drue 300 United Rwy Invest pf 17 ft 3000 o United Rctnll Storca.. 63ft 100 ..US Food Products... 10 1500 4 U S Ind Alcohol 40ft 100 .. U s Realty A Imp.... 40 5100 ..US Rubber 40ft 12100 BUS Steel 75 1100 I Utah Copper 40 8100 .. Vanadium Corp 31ft 000 .. Vu-Car Chemical .... 27ft 300 Va-Car Chemical pf.. 09ft 100 o Va Iron Coal A Coke. 03 1300 .. Vlvadou Ino 7 300 .. Wabash pf A 20ft 100 2 80 Wells Fargo Express. 58ft 200 7 Western Union Tel... 82 1000 4 Westinghouse CAM. 44ft 400 .. Whlto Oil Corp 7 1300 .. Willys-Overland 5 300 .. Willys-Overland pf . . 37 . 03 ft . 0ft . 44 ft . 17 ,118 , 03 50 24 0ft 10 ft 9 54 ft 34 48 39 38 7ft 58 ft 18 85 37 21 lift 20ftf 0 40 65 S3 93 28 23 79 ft 28 ft Oflft 23 40ft 8 49 22 ft 23 ft 04 ft 15ft 37 ft 18 ft 34 ft 70 19ft 46 70ft 100 23 73 ft 04 38ft 34 33ft 17 03 0ft 44 ft 17 118 03 47ft 17 52 ft 10 ft 45 40 44 ft 74 44 ft 29 28 09 ft 03 0 20 ft 58 ft 82 43ft 7ft 6 20 ft ft 3ft ft 25 9ft r 20 ft- 9 64 ft 35 40ft 41ft 38 8 50 18 .. , 653 27 2tn ft ii 20ft 88 63 04 28 ft 34ft 1 79ft lft 33ft- 1 07 34 47 10 ft 37 13 31ft 70ft 10 ft 40 70 ft 100 ft 33 ft- 73ft 1 94 ft 28ft- lft 35ft 23ft ft 17ft 04 ft lFs 0ft- ft 44ft lft 17 - 118 - 03 60 17 -53 10 45ft 40 4S 73 ft 40 30ft 27ft 2ft 69ft ?; 031 7 20ft 58 ft 82 44 7 ft ft lft V 1 Vk 1 3 ft ft ft ft ft ft ft 3 ft ft 1 ft 'i ft i ift ft ft ft i ft ft ift Commodity Markets GRAIN MARKET Chicago, Sept. I!. September wheat i-tarted ic to tijc lower; December tteady to lkc lower and May unchanged to Vic .llgher. After the stnrt there worn off ii points wab selling bv receiving houses nnd bv T.lle other (luotntions were: FOREIGN EXCHANGE New York. Sept. 1!. The foreign ex change market opened unsettled and irregular. Sterling started cent higher at 3.7 ls for cables and .'i.7-1 for demand. Francs ere down 2 points, lire showed a loss of n point and Belgians wore unchanged. Mnrks i... .,.i.. a firm with Omaha connections, niso i5Pcifln r,ii,leM H.VA. checks 7.84 V.! '.Hfi. pheelru 7 fU llv 1 i ...i.i. .-.! !.. ,, . ... . .' -.""- "-! muni- u ii iiimim: wiin rrjirf-stmiuuves in can es i.;io', checks 4.,j; peseta ca the Northwest, and prices broke to n bles 1.1. Id, checks J3.1H; marks 1.15; discount under the previous close. ' ?"',ss bios 17 15. checks 17.1U; Co- ,., . ... .. i penhagen cables 17 in. checks 17.70, Irade was ninmii, with action Stockholm cables lil .s.",. checks 21.80 Financial Briefs rapid Hcooipts inspected eterdaj were 10S cars; Inst ear 75 cars. The cash market was relatively stonily. Country offerings to arrive were lim ited. Southwest advices late yesterdn) told of less liberal selling nnd firmer premiums there. Minneapolis mills quote lending brands of white flour L'Oc a barrel higher. (rn started ifcc lower to c higher, with a limited trade. Locals are doing little, nwaltlng developments, and commission houses are on both sides in a small way. Oats started 'fee to c higher, with commission houses buyln? December nnd May Offerings of deferred futures were mill, bin hedging sales developed it September after the stmt. ,,i Te 2',r.nB! prl(,e of 'nty active Indun iuiJS declined .0 2S per cent yrstcnlsy to J "S3, while the twenty rullnmilM decllm-d o.M ier cent to 71 31 "....n-u I Set earnings of the C.an I rood fur IS "oil nii",!S,e? ut '"."OO.OOO a. aealn.t J 1.4liln J.u"" Thl Improvement in Pv,,,?"rilln,r t0 ,lle 1'ureau of Hallway " " accomplished, notwlthstand S' u,r,"p ,of 13.5 Per cent In cperntln rev. oie Dy a bin reduction In expenses. .v,'10 ''"J15' sversgj crude oil production In this country was i,Bt nok l.S0.io7o barrels " contrast to 1.318,440 tiarri-1, n the pre 'edlnc week, a drop of la.aTn il.l P. ... . . .. " , i.nrnin tn ,-. .i ."r - .- L'lirlstlonia cables i: r,.-.. checks 13.50 ; fuu h .t 'nate Thi bi ,i,hi"i! Wl' guilder cables ! 03. che, ks 31.07. ' ' In the' Loulilan.r'lioTa IS dl.?r"le ' The ptoniiuni mi New York funds in ' iao UB buVfeT. ?S ,?h-Vi0n,'nTr", """" Montreal today was 10 per cent. The, '" '" '!L"c'''"nK "e,k- iiiHouuni in .ow lorlt on Canadian , Moro timn so "iiiiii s i jo-ni per cent. Central European exchange's were: Rumanian, 1 174 : Austrian, .TJVi ; iiuugqry, ,L'o'a ; Czccho-Slovakian. otnp irlMiin with lam KxUmnir1. COTTON MARKET New York. Sept. 2. The cotton mar ket had another big opening todny and showed 211 m 10 points ntlvnnce on first sales ThN was followed by further shni upturns aftei the call on heuvy Continental and Liverpool buing, to which w.is added nc. commission-house bujing on u big'scnlo. All months but I h tidier were above the 18-cent level his morning. Tiinle bii.Miig also was in evidence at the start, wliilc Lit ct pool rubles showed pronounced strength. The Belling was ino.th from the South and from longs inking pinllti- oer the holidojs. At the end of the first fifteen minutes the unit I.et v. us active and itlll very strong, nt .boiit 57 points net advance on De- )s rMi I ''' '"''or contracts. 1' t 'PI... ,u.,,li,tE or ,l,o nn.l o fri- flirt dflT nro estimated at 18,000 bales, compared with 12,510 bales lost week, 15,728 bales a jear ago and 330'.) bales two jeais ago. S7.01 Jil.'.iO !i!I.O(t 70 101 is 57 Business Mortality Higher nnini t ' imiKt hi: , i fil.'iies duune th mnnth of nnw i,ii nil rp- ror m (utol er l)iH'int,er ond cons'cutiM munlh. th total bdnK the ;,"L"i ' .Ma j July We Specialize in Equipment Trust Obligations Biddle & Henry 104 SOUTH FIFTH ST. lar-ie-a nlnf I I'bruary. a'cordlnc id the luriN rolnpllecl liv II 1 Hun & Co Til puinb' r nf il-fiiLi'tH li mnnih v ai s j rer i M l .rift lh,n,n.lu' leu th. x 'tnnlim nf , lia lllilen im t.nrl d limlKninr.int Tiii.il In to mci-. nnml iriil 1 MI ' mil romparirt 1 1 1 ! 1141 in !u l.lal.l ill". tmitlPil II.' 1MII 11,11 ' ,i- ivimim -1 'Vli Ii (IJ ,'71 l"3 The l hi r.. I . t.i 1 1 ihun '.ii t ii if n lun, hnnl!ll i. r wit imi i i i lnio nf ii lurliinilM u'lt'i iiih rfiTiM or n juir if , hillt lln line lame incrniij ttin ralliireH In Ay. iui of ll'"n numlu-rlni' imlv H":i nnd the IIhIiIIIiIi". iinlv -'K.37J sii'i nxamln.itlnn of tin r t.nd'1 Mh, tn.it fur u loni: period tli rsrnrei of litit month exreed thomi of .mi pi.lous .UKUt on leronl U Ith on ex ep lii.n thai u- Auut 1011. liabilities are alao u lecord. Pruvlous 1 00 (.'lose Open P. 31. 17 34 17 .1.1 17 IIS 17 IHI 17 06 17 lis is on 17 04 t7 s.1 is lilt 18. Ill 17 till IS 2.1 . . . 17 110 IS) itt NEW YORK COFFEE MARKET New Voiii, Sipt. 2 In response to 1 ..!; u n in witii in " M mi .r, iiiiu iii,(i i- m KEufiiSGEa, JBEKEaS it-MW York andi iiw aiA-r. t ;.-.,. I tnyvi aviifiu -I.' m n .- m t Ut Slackened Demand for Wool lloituu. PI J The i emmerelal Ilul lit'n lotnorro will sat 'The deinand for von h f in i, If rather eharpu dur tin 'h I ii.' elt a.ihouith some hnuen report .i fi , i urn . trad" at steady prl, en Th s I" " liet. h'iw"v.er has fillen un dull linim ' din? to .tl. reports, and IiuhIiiihs ha- a i" ' ly ,ile kened up on raw ma ll rials Porclgn mrkeu t'.re very buoyant Uv.uliui hj'lnu opened fully 10 per cent hdii-r than the closo of thu prov'oua sales, w'hl'e the tendency In the Australian mar ie ts Is still upward. BAX 4,ltarillvcr. was a-H ..'..ili , 7V.".fi 81 L 4.WI U nn JajMAvn to. 'ZMf? til-It, i- simwiiig ut the lirnzil mar- kets trnile intcieslH weie good buyers nf coffee iiiiitliiits liero tlllH lliorilillg, call prices being iiiiclianged to an ad vance of 0 iioinls. On the bulge there was moderate scattered profit-taking. I.. I.nnt uville, Havre, ctihled the world's visible supply of coffee on Sep tember 1 as N,i".i00 hogs, a decreaso for tho mnnth of 00,000 bags Accord ing to these figure., the stock iii Europe on Seiiteinber 1 was 1 .0(13,000 bags, or about a two mouths' supply. At miililin. the inatket wax firm, De i ember having sold up to 7.33c, Mav tu S.S.ie mid July to S.02c. or 0 to 13 points net higher Trade Interests con tinued to buy hedges hgnlnst sales of pctual coffee and there seemed to be signs nf outside speculative interests on (he buylug side, Yest. rlese Open Peptemuer 2'8 , fl.BJCRil iivvamvir ..... . ...., . i.u.i l,.'4SCu siarcn ,.1..,.,.,.,.. . I.nivc; T.asircso Jttur ,mmmfm9m J.irsvifa ' T.V8V0. 1.1'J; Jiigo-Slnviou. .50; Serbia, 2.24; Ureek, 5.72, and Itulgnrian, .85. YKSTEHDAY'H TINAL CJUOTATIONS Sterltnr Francs Lire Guilders Demand JJ.74 7.80 4.40Vj 81.83 Cables 3 74-4 7.80H 4.80 01.01 TODAY'S OPENING QUOTATIONS Sterllnu Frarcs Lire Guilders Demand . .. 3 74, 7 H4'4 4.SS 31.07 i tables 3 7lt 7 s,1H 4.55H 3J O.'l I MONEY-LENDING RATES I .NEW" YOIIK .Mow v on call, both classes of collateral, opened today ut 84 per cent , iur icouiiis aim renew ins. I'llU.AIir.I.I'HIA (all 0 rer rent, time, 'I per cent, riintinviiiti iiaper, three to six months il per cent Note These are merely nominal quota lions the Iik.iI rme ,,f interest ln the Mate of rennmuan a iein fixed at il per rent 1'lun premium .u.d Mimrnlsalnii, time mony for thtrtj to nlneti (iJJS ., loaned nt 11 to lll4 p r cent while , ommerclal paper from thirty to ninets djs is uaned ut tl to (JVb ver c-nt. DIVIDENDS DECLARED Continental K'i'jitiibiu Title and Trunt Com- pany Cofh Amln ot ."" Charcoal Iron Com n'Wrtb01,,n.a.,,t ? "r.oc1'" ns have 0OO Th. i J '"'I0 ?' not o exceed 1 1.000,- enTf0om'e,,,.r,ft s,r',.,fi"h."W . . trick- ( ..-. "''" oi urutruay . i.rnni i -onipnny interim ccrtlliriites f r PUhb".?c MuX liU7'Bo"l?.Vo'o,,?5 " '"' 1"'- A,Tie, V,?llV.'!a.' I'"l-rtles :.".." ki"nyH i ii.na tt miwnv of er rnnt rijrtil .?'a,-L-,1..n "hf.lN.iinim.nta.Cn" '.i '"."."' ."c" "h LltM. I-If certill, .,,,.. Ill lltinil IvlLllail w. . .... lional .,: ?" l " ",'. "'"' '! -N'i M'nf-A: Steffi ne Sepfmber IB. "' b"aU h,,w. U..K...... .. " --nil- puny, 4urv.n ,i p. r int. payable Hepiem- V ,,"""? V ' """" surplus after charre. nn.i ""om tor 24 tO StOl k Of lf.eni-,1 He.vl.ml.er 1 Il-lleral tUXeu uf Inj .. ....'.:"!"."' ?nd I'liliil. I.'n.ili, Firestone Tim and llubber Company, quar- 1,';',,'1r", dividends tu' six cent, a ."h..I I'rackeijaik terli of 1'4 per rem on H per ion! pre- "T"0''"" the 20, 4U1.I100 Mm .,!.i,'S' lJlamon.ltluid rerrea. payable ortober 15 to stock of M""1; ' 1-3) as compared with I7' ni.ii -ii ir ' lorenee . reioru unoner 1. ana 1 per cent nn the " . " " " "iiure on the sis "I.-. 11111 , : , ' "Mutleiil I 1 per cent preferred, payable November 1.1 V" Htandlng in the correspondlni 11, 1 0,1 ' ioM ""v to stock of record November 1 lU-'O. inuinii IKiiod of (u(ini. 1 Hoibrook at New High Record. Mines Active, but Move ments Narrow Now York, Sept. 2. BubIiicss con tinued small in volume on ttys New York Curb Exchange nnd the few transactions which wcro made In Hint market wcro generally nt unchanged prices. There was n small amount of busi ness In Philip Morris at 3. Hoi brook was cxccptionnl'y strong, mor Ing up to 14U-. n new high record. Sweets Company of America sold at 2. Fnrrell Coal held firm nt O1 and there was tome activity ln Glen Alden nt 34-)J and 34. Common wealth Finance stock wns n strong fen turc, the common shares selling nt C4V4 and the preferred nt 82 to 823. Denver nnd Kio Grande common sold nt 40c nnd the preferred, nftcr the ad vance of yesterday, reacted to 75c. Narrow fluctuations were noted In tho netroletim croup nnd thoso issues were virtually unchanged In their trad ing postion. .Mexican uaglc sold nt -U. Maracaibo ranged from 18 to 17Vi Cities Service common sold nt 118. Omar Oil was steady nt from SO to 81, nftcr Its decline of 20c yesterday. Im perial Oil and International rctrolcum were unchanged. Arkansas Natural Gns showed a steady tone with sales nt 8 to 8U. Mining stocks were nctlvcly traded In, but movements were narrow. INDUSTMAI.8 High Acmo Packing 1 ',i Brit Amer Tob coup 1H4 Columbia Emerald ". PS Com Finance IUU Com Finance prof ....... H2W Bit Cl 40 II a pref HO., Emplro Food 22H Farrell Coal UVi (lien Alden Coal 34'. Cloodjenr Tire - Hoibrook ... .; 14H Inter Hubber il1 l'hlllln Morris HV Itadlo Com pref 1", Sweets Co -' U H .Ship Corp 22 U 8 Steam U4 United Hot Cnndy 5 West End Chem 00 What'sCommgThisPall! Ixdw liv? uo (I4'i H2 40 78 34',-i llll 14H 31 r.. 88 1:30 V. .M. m nv 115 U4'i S'J'ii 40 7ft 22 34?; L'U a 3H S8 HTANDAnt) OII.S Anslo-Amer Oil H3. Atlantic Lobn? 10 Southwest l'etm ft,1 Stand Oil of Ind 07 INDEPENDENT OILS lli 10 88 07 i4; HI 8.1 07 Arkansas Nat Oas SU 8 Iloston W; omlnu 72 70 Cities Service (old) lis lis Cushlnc 1'et 13 12 Enxlnecrs I'etrol 41 41 Olllllnnd Oil IS 1 (llenroek Oil 8(1 8.1 Granada 2S 2'4 Imperial Oil h". H Int I'etrol 10 ! ! ons l'ct s.1 SO Marac.ilbo Oil IS 174 3!ec Kacle 211 20 .Mexico oil 11.1 114 Omar Oil 84 80 Producer Sl Hellners 4H 494 KImms 1'et OU iltj Texon SS 87 Wilcox Oil i 1i Y OH 2U 20 MININO Alaska Dr Columbia Iloston Hi .Morrtana Crackerjack El Malvador Eureka Croesus Olodlleld Florence Oold Silver rick Cold Zone Ilarmlll Divide 17 .MacNamara 13 National Tin Nevada Ophlr Nevada Silver Horn New Cornelia Portland Ho Am 1' & O fulled Eastern IIONDS Amer Tel 0s 1024 Armour 7s Denver Hoard 8s r.eth Steel 7s 1035 t on Tactile 0s Can Nat llwv eq 7S Chi V Stat llHs Cons (las Sh Ooodi leh Tire 7h Orand Trunk UHs (lulf Oil 7s Humble Oil 7a Interboro 7s Morris 7's Nat C'lre.k Suit 8s New Haven llwv 4s Otis Htoel hs Sears-ltonbuek 7s ill22.... Southwest Hell 7a Swift 7 11)31 Vacuum Oil 7h Hussion ilijs hwIsM ,1'bm French Icim y 5i L" s HrH7.H s 3.1 13 12 J1fi 4 i 2A ii m; 7SV4 U.I (I7J4 1024 10.1J4 10(1 II '17 S lSi 73! II!) H 02 ftt III) IIS1) 7U 1)74 KlPi 174 till', 112 Bll'i 31 OS 15 31 37 10 II 17 12 55 34 10 12 1 4 8'i 7(1 lis 12 41 si14 ft SO 18 21) S3 w 29 32 Oil 1.1 31 37 10 (I 17 13 r,r, 35 13 12 ' Mi PWl If you leant to ut Ju$t how Dabion't Sttvit jW maU and lavt dollart in th various dtfiartmtntt of your own bninat, tiar out th MEMO-now-and hand it to your Ktrctary tvhtn you dktati th morning" mall Will sales pick up? How about prices, uy or down? Will we see a boom in business? Babson'a special letter on the Fall outlook rive you the plain, unbiased facta on the present situation, and forecasts coming conditions with remarkable accuracy. It contains information of vital importance to every executive. REPORT ON REQUEST This Barometer Letter and booklet "IticrtmtnrN FroUs"-l available for distribution to Interested 2 ecutlves, gratis. "7 ' Tesr out the Memo now ind hand It to jrour seer. far when you dictate the morning's malL Msrsti Aik hr Bultitln 3(WA V BABSON'S JBS. Welleiley Hills, B2, Doston, Mass. (Buburb of Iloston) n LmtHt Organisation 0 Hitrlnu Aivittrrt U t)n TfWt4 r " CLIP OFF nERB - . - ! MEMO for Your Secretary ' Write Roger W. Dabton, founder of The Babton Statlstloi ! I "VniT-'-Sr.tl.: " " " "l iscs rrvjii Bf" . I STABILITY OF EARNINGS, which has characterized New York Central RAILROAD under the trying conditions of the past few years is an impor tant factor to be considered when investing. Its effect on the securities of this road is dis cussed in our cricular PL-436. Copies Free on request WALTER J. SCHMIDT C& CO. Mcmbets Consolidated Stock Exchange of Nea York PHILADELPHIA: 1323 WALNUT STREET NEW YORK: 30 DROAD STREET: 319 FIFTH AVENUE i! ft 08'1 US 1114 114 t 10.' y 1051, 1004 UIIV4 H74 OS 117 i 73 llll'. !I2'j 51 1)11 lis',, U7C 7. lot's 17'j mi' j 112 mi 9S. us 7(1 W 11 li, 07 V, 102 Vi 105 4 U0'.. 117 i UHU U7'v, 73 U'lS U2Si M UU tls 1I7J ,7,t' IMI'l U2 UU', LOCAL MINING STOCKS To.NOPAH STOCKS (ash Hov 01 .0.1 .Mm llutlor n us llacNamara 14 io 1 rise, nt 07 .1111 Midway ii; 14 -Mipali Kjtlenslon 07 .00 .Montana 11,1 (17 North Star 03 .11,1 Ilescud Kula "Jl 22 Tonoimh Kxt 1,', m West i:nd 78 .82 West Timnuah 02 .04 Allied Divide .... Alto Dlvldu neither Helcher Kit Hen Hur , Hroush Dlvtdo Divide i:xt Divide I'nn . ..., Dividend linn Divide Hiu null II until 1, 11 1, M Oe . . Knox ltevvrt Divide itellil JJlvel . . . Hotcta ... Silver K1111: Sultiel al.'i . . Tennpali IHvlile loniiiuh ll.ikbiouck Vlc'oiy Dlvldu Verde Divide Zone DIVIDE STOCKS .(11M.1 .02 .(2 .02 llll 31 .03 .04 .01 .11 .02 .llll 0.1 .1)1 .11 J .111 .111 .70 .U2 .01 0.' .011 Clul.DrilH.D STOCK'S 0.1 Hlue Hull.. Amerlrnn Woolen Cnmnnnv n.l.,lv a. Jl 75 on common and preferred, payable ouober 15 to tt.ick of record September 13. LIVESTOCK QUOTATIONS ofU"""?11' s'f ' HOOS-Hnrelpts. 8000 head Steady Heavies, JoffP 25, tSVyr1""' ID-73Q10; llsht jorkers, 10 21ST0 80 piss, JllflO.SS. SHKEI' AND IAMIIH Receipts, 400 tSVJi b,0ttd)' Top sheep, IB: top lambs, 90 80. OAI.VES Ksetlpts, 150 head. Steady. Kant lluffnlo. N. V.. Sept. 2. CATTLE RecelptB. '.'75 head Slow Calves, receipts 050 head: aeiive JBJP14. IIOQH IterelptH 7200 ho id Slow, 2.1W B0 lower Heavy. I0W.2.1, mixed and iprkers 10 50. Unlit vorkcrs. 5IIS(II plisa 18 Ml rollKhii Jil (in .i. I4B SHKEI' AND 7.AMHS Receipts Jn.t.t'Sfovro'ii.0.0.,."" ""-"" ?r Reserve Banks' Discount Rates Official rediscount rate, at the twdvn v. ,1 eral Hesorvo Hanks aro as follows: Trna l on )ooo 1 (In at Hend (Jumbo Dxt Kevvanas l.nne Stai oro Hod HUlH Silver l'lli Sinarhiad . .(1.1 .ill .35 .05 .11.' HI 02 .ll.l .112 .113 head. Limns alt. hlBher. nt hers unchanKid I.atnbi, rMirli, Hoston New York I'hliadelphla Cleveland Richmond Atlnntii . Chlcaco . . . St Louis Mlnn .ipo'l. tv rt i u n r I , jQftiv ;;:.. "- ... JJiiuas U. S. Certificates and Treasury Notes Int. Maturltv Hate Date Hid Asked Yield 1U21. . ..100 1-32 100H 4.2.1 1021 ... U10A HID 5-32 4.21 1021 100H 100V4 4 11 1022 1110V, IOUV4 4 (III 1022 . ...100 3-32 100 8.32 4 113 1022.. . .100 0-32 100 18-32 4 Oil lhl'2 ..100H lOO'i 5.12 1U22 100A 100A 8.10 i(i5j . ino'i ini a 11 -i.enuu irom normal reaersi income tax tArreptablo for pajment of Income tax due on dote of maturity BH Oct b: rv, til Dec 'BV4 Feb , l.".4 .Mrh t'SHj Itch. t5v4 juno, 514 Aur tMV. June, Southwest Penn Pipe Cuts Dividend New York. Sept 2 The Mnuthnnst I'enn I'uve Cominnv hn declared a dividend nf II a share whli h l a reduction nf tl from the previous rat of 12 quarterly, payable Oc tober 1 to stock of record September 10, , 1 " Advance Lead to 4.50c Per Ppund New York. Sept. 2. The American Smelt ing nl lUflnlnir company' today advsnesd tl prle of lead from . 4.40a ta ,4. Boa a pouna. - - ' - j -i Sun FranilNe,) ctfs. BH 5 5', 5' I II II (I ii '"J II r,' Lib. Com'l Hkrs. bonds, paper accept. Kit '.? ? .' ? 5'a .1 II II (I il ll n II II II I' 0 il ii 5 h, ! ii ii ,1'4 5H Va Drop In Canada's Trade lornnio, sipt. nV!r',,m?,oV,,TVed0''oS 234. imalnst II 223 720 1(124 In inn . -Iu!?'" iiiliPlii Klnad'im linnon. '.'' V.J. ? .'" I nlted 'I I III kll-. I.. H4 ID 03 MISCELLANEOUS Atnparo 110 Arliona L'nlied 00 Caledonia on Eden . . lu Emma Silver 02 Kurek.i Croesus 31 Eureka Holly Ul lleela 4.00 Mlilher Lode BU NlVHll.l Hills 01 Nev adu Wonder 17 su ui-sii 02 'iKiipa Min, nit 07 v llllH Cips 1)5 Wllbirt 01 .01 03 .ira ll.t .1)11' 4 US .11 .04 ii,i 02 1.1 I l.l II 114 02 l.l 0.' IJ I u 04 IhJI.j .III 02 37 (111 III IIJlj n.l 0.1 03 (II HU'4 !'ii .11 1 311 13 .11 .211 .11.1 .32 '114 4'4 r." (12 'nil .nil ml .HI We desire to nnnounce that L, J. COLFER, Jr. and J. FRED. UNDERWOOD have this day become associated with us in our trading department Schibener, Boenning & Go. Investment Bond 512-514 Walnut Street llrll- Opposlte Independence Square -Lombard 71BO-1-2-3-J-3-0-7-8-0-0O-OI .Main 1011-1,1 State of New York . 5 Gold Bonds 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 investment in many States. Net bonded debt of New York State about 1.29 of assessed valuation. New York State has nearly one-tenth the pop ulation of entire conti nental United States. Estimated wealth over tvVice that of nil the New England States. Prices to Yield about 4.70 Particulars on request Hemphill, Noyes C, Co. Afembsrs New York Stock Eichanfa Franklin Bk. Bldg., Philadelphia New York Boston Scranton Buffalo Albany Syracuse Baltimore BONDS v. Municinal tOJ y Railroad V Public Utility Industrial Harrison, Smith & Co. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA A Hydro-Electric Power Twenty-Yoar Bond Yielding 7.45 Secured by mortgajje on all the property of the Central Maine Power Co. serving an old-established industrial territory including eleven of the sixteen counties of Maine. We have been identified with the bond financing of this Company for the past twelve years and recommend this issue for conservative invest menL Price 95 and hit. Complete circular oa request. Harris, Forkes & Co Pine t, Cor. WMiam NEW YORK PHILADELPHIA OFFICI Wldonor Building Telephone Spruce 7040 LOMBARD 6100 a n.. . -- ""4ini ijwi tfnr comiMi-M. win werB,270 .011257";':.,, A," '?,.. .tow.- i'i, ,....i .... : i-::r. ." ,un..ai. ,1H2 1 17 : 307 HI 11120 ami 1.1.1,1 ,,K7 31 i'A"iT V." . s4 BANK CLEARINGS HaL'frn ",I2'1'?!J WfliKs,! I0,I)lV!078 Iloston.. ..J0t,030 4,7j6jfl SB Mft 180 Sugar Market Quiet and Steady New ork, Kpi The sugar murkut i-pennd today iiuiiu and steady. Tliem wa a lu'sllamy un l ho part of buyers to commit themselves on iIk preont basis of prli es and sellers seemed reluctant U) offer i u cesslons In the raw sugar murkot. A repoit had botn clrcul.itod to tho effect that tho Sugar Finance Committee cnntormilateil em. tine their price to 3o for a lound quantity I of jjuitar. but a atiitvnionl wivji Issued by the coinmltti-H lutu yisterday which read "Our I pries for Cuius Is 3 25c, cuat arid fro'irlil, iiolwlthstandlnif any report to tho contrary ' ' Nc enlm uf moment wero reportod iiti'to Ihel i loiu of Iho markot jesterday. Iinporla-' tlons woru 1,1,110 baas Jnns lo an lm Porter In tho refined suKar marku, lli.i, only clnniBo noted wan an advanci by Ai lm. Itlo llroi to .1 olio basis on soflH. nuin. ' l,m 10 to in Th iiuoiiillori on uraniil.it il la inHlntr'iiid ai 3 UOu ond ir.oderalo buslmsa Is ropoiti-d Prices Firm on Paris Bourse I'lirls, Hept. 2.l'r!ces wsta (Irm on the Hours today. Three per cont rentes, 50 it . uVi"""?" assnanao on umi n a nanus an ui'iuinirB: n wxitw nnr t?J.f' MPi'mea, . ,Th dollar fi COLUMBIA GRAPHOPHONE No one who owns stock In this corporation, orwholsinterested in its future, should fail to send for our special report. A copy is yours by writing Ask for M-lftt). Kardos &. Burke 1424WalmuSt.,Philadelphia PHon Spruce 6jp rviewiotk firooklyn Chlcaso Iloiton I'lttibursh iwiimme DlPniaieWiriConnrctincAIIOci U. GE0.A.HUHN & SONS Mrniliers of the riillnilrliiiiiii York umi Chln.it,,' HiMk rl,l1:,w New Ynrk fotton K,l,,filr,","f" Commlealon Ordera Exociiterj in AM the Principal Mf??k,ta ,n Liberty Bondi-Qouoht nnrt em- N. III I ro.ulwny. Atlnnt e ('liv AinliiisMiilur Hotel y" 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 Avo.f N. E. CLEVELAND New York Boston Detroit Cincinnati Columbus Toledo Akron Youngstown Dayton Denver Colorado Springs AUTOMOBILE INSURANCE I.IIII'ltTV MtlTlllr ivunnivrl! CO. flionei r.ofn.t (1070 20-'! So. lath t. c- A.t1. C0T ? V,,r- '.l'T HTM. BANKERS Lee, Higginson & Go. .n... Established 1 . HOSTON Njv yoilK CHICAOO 1300 Finance Bldg., Philadelphia SIT ponda jn& N( ,Jti ieii s rasora to lffiSJ-?Wl i.-sir-.r-i. n tisik nd said '- .SS I'"! ,',,",,,i .?'" l'oriwirtlon,,7H.' li&M l'.rlo Hnllroud Cniiinsny. .,,., w.. !!Q 1 vountiiM ciaa a Klectrie Co.. .. JHSiM JOnnHtQfirj TrmrtlAn rAtnniinv.......DI lr samiw mum a ca: ai in irarca la cintimss. 'bi- lift c -'" - .... '.. Jii.i.I. r. . i ', r , , -r frTWWBirT. :U' ri't- -A - "-'f-ViWmiJni "tto . - --,-rtw-ww wwv( . ., aH(S...A r---. Mml -.4l ill II ' ' ' 'i.j .-.M :'-.... ..t. 1v