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EVENING PUBLIC LEDGERr-PHILADELPHIA, FRIDAY, SEPTEMBER 2, 192r
' 18
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"""" "' 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
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