m-
,"-x
1 ifrf,-'
,r.
' f 'tit '
I '.,
A'
1921
c
JL
ra:
2.
2.
1.
3.
i s
Am Cot Oil
I B lis "'
' ? iiw
?;? w
w":,81
t...
1..
II..
3...
1...
3...
8...
C'k
1...
8...
1004
1.
.. ltep' o
;:... u
IT 8 F U
.!.. 7414
itiiniio nr
1 ... 12
B.uon,v-v
1..
1
12..
It..
2..
c n
6..
4..
1..
4..
1..
2..
CM I
8,lit'6hlo4'
B,,'i Ohio 5s
g
i:::: S
1.
jjlU i Ohio Oi
1 -
.Battle Ctttk
j,I TltPhln
1.... I05.
TUUl StMl M
l(ula)83M
B StMl 8" '3l
1 T8
1 TT'i
Jim Edl D !
1.... I"'
1.... 101
lrlcyii n T 4i
i ntvi
Boih Did' B
i 73H
t 73.
1...
n
c'ni
6...
l...
8...
1...
8...
1 ..i i .i .''i i i I i i '- ' ' ' ' '
NEW YORK BOND TRANSACTIONS
HALES IN 110001
Gonad' n Nth'n
fll4 ret
1...
no y4
, 00
, 00T4
100
100
Cand'n N T
fl,... I04H
(I.... 104W
Cen'l of On On
2 vj
1 01
Cll Leather
1 80
Ctl Pacific lt
1 7HW
ct'i r s ti ti
l 71
Crro do Faeco
Cou'r 8
108
. 108
. 100
. 100
O cv 8a
.. 83
.. 83
83
Chi & Alton 8i
.. 48
..40
.. 40
Q 0H
,. 102 W
,. 103H
. 102
. 102
. 102
..102
& Lo II
.. 08V4
Chicago Mil 4
Str 4i '28
1 74
Chicago Mil 4
SIP ev 4a
1 OS
Chlcaro Mil 4
SIP M 4V4
1 B0U
1 80
1 80
Chicago Mil A
StP cv Ba
1 05
Chi & Nwn 7"
104
. 101
4 I'.fd
.. 00
.. 00
,. 09
.. 094
.. 00
Ctllt
2 78
Chicago St P'l
M O in
6 83
Chi U 8ta 4
1 81
Chicago Union
Sta ct 0'i
l... 108
Chi 1W Hi
1 01
Child Cop'r 0
1 71
1 71
City of Ueraen
8a rcta
4 00 U
Cly Chrla'a Bt
3.
4..
1..
100
100
100
100
1.... 100
2.... 100
City of Copan.
hagen 8a
0 70
B 70
8 70
City Mars' a Of
1 84
C N Tk 4s '88
l.... 80
City Paris 0s
3.... 00.18
City Zurich 8s
8.... 100
4.... 100
era ctn cht 4
str, 4s
1 70
Cl'il Cln Chi
& St L 0s
a oi
2 01
2 02
Colo 4 8 4f
l.v... 76
18 70
Coni'd 0 7s
1.... 101
Cuban C 8 cv
3.... 102
P 4s Denmark Con
ot U 8a
1.... 102
Den 4 11 O fd
3 44
Den 4 II ( 4a
2 08
Detroit city
Oas Ba
l.... 80
Det U II 4s
1 80
D Match 7s
1.... 104
Do Canada '29
4 04
S 03
Do Canada '31
8 no
8 00
Dom Itep'o Bs
2 70
8 70
2 70
D Ds Nemours
wd'r 7s
8 D8
1 08
2 08
1 08
2 08
Duqu Light (la
1 03
Erie Oenl Lien
0 43
Urls II It cv II
1 S7
Erie Hjr Co 4s
3 86
Qoodrear Tlrs
4 Rub'r 8s
1.... 103
18,... 102
Oove't French
R 7a rets
8..
1..
4..
8..
0.
87
87
88
88
88
Cuba Rd Co Ss
2 00
2 00
Denmark Can
ct A 8s
1.... 102
1 ... 102
1.... 102
2.... 102
1..
4..
1..
1..
60..
1..
1..
8..
12..
1..
6..
2..
B..
2..
CO..
"22.
00
90
00
00
00
00
00
00
00
90
00
00
90
00
90
00
6 (sale) 00
i on
2 90
Qme't P II h
1.... 101
20.... 101H
3....il01
1.... 101
l.i.. 101
8..,, ldt
a..,. 101
a Nth Rly 1st
J 81
O Nthn Rly 7s
102
102
102
102
102
102
102
102
8
2
0....
0....
3....
1....
1....
1....
Hud AMan fit
1 07
Hud & Man t,
2 42
til Centrl 6a
1 02
Info Mat 4i
6 14
3 14
Int M ct 4s
1 11
1 11
3 11
latb'o R T fd
7
1
32
1 M Marina 0i
1..... 78
1 78
8 78
2 78
Jap Qoven't 4
83
84
64
1.
1.
6.
1.
Kan
2.
1.
1.
Kan
1
C 4
C A
72
72
71
J2
R 3s
87
87
87
8 Ba
77
K C T Rly 4s
4 74
Kelly SprlngM
Tiro Co 8s
3 (salo 00
7 00
1 07
1 07
r 90
6 00
K Ilelglum fls
6 08
K Hola'mTV,"
3.... 02
3.... 103
2.... 103
2.... 103
K U-jIg'm rcta
2.... 101H
4.... 101
;.... 101
0.... 101U
1.... 101
Kintnom vn
mark ct 8s
8.
1..
1..
1..
2,.
U..
a,.
i..
102
102
102
103
102
102
102
102
Kingdom Nor.
way ct 8a
3.... 104
1.... 104
3.... 104
1.... 104
Lake Shore M
Bo'n 4s '28
4 80
1 80
0 HUH
L Valley 4a
1 88
LoU 4 Ark 8s
1 00
Lou A Nash 4a
7...... 82
2 (rate) 82
Me Petr'm 8a
2 00
1 00
1 00
7 00
Mln 4 Bt L fd
2 40
2 41
Mo K 4 T 2nd
30
30
80
30
30
T 4s
01
0IN
01
01 s.
01
01
01
01
18
18
1
1
8
Mo K 4
2
B
1
0
20
B
0
6
Mo Pacific 4s
1 83
2 63
Mont'a Pwr it
1 87
2 87
Mor's 4 C 4
2 80
X T Cntl 3s
2 07
N V Cent'l 4s
B 70
N Y Ctl en 4s
1 71
28 71
N T Cent'l s
2 92
2...
1...
B...
2...
1.
02
02
02
02
03
N T Cent'l Ts
a.... 103
4.... 1021
N Tk Cent'l L
Rhore 3a
6 03
N Yk Light U
4 Pwr 6s
1 80
New Tork () 4
West'n 4s
2 03
1 02
N Tk Rlys Bs
1 6
N T Tele 4s
1 81
4 84
New Y W O
Host 4s
1 80
Nfk 4 W'n 4s
2 78
N'k 4 W cv Uk
1.... 103
North We'n D
Tel' a 7 s
1.... 103
l.... loaE
N Pacific R 8i
1 87
2 67
N Pacific It 0s
0.... 102
1.... 102
Ore 4 Calif St
2 fl
Packard Motor
Car C 8s
8 00
S 07
Penna R R Bs
0 87
Penna, Rd 0s
0 00
a 07
Reading Co 4s
4..... 79
1 70
3 70
Rep Chile rets
'8...
2...
a,..,
1....
1....
1..
00
08
08
ns
08
08
It Cuba, Ba '04
1 "70
Rep'o of Uru
guay 8a wl
4 08
S 08
m.... 011
Illo OtWIi
8 00
DrvV tl'.tlA A
Loul'a 4s A
1 (1H
1 08
1 08
1 08
St L A 8 T a)
8 08
6 08
St L 4 8 V In
88
1,
8.,
1..
0.
1.,
1.
St L
... 88
... 68
... 88
... 68
... B8
A S Fran
fleab'd A L 8s
1 40
B 411
1 40
Sinclair C Oil
Corp'n 7s
00
90
00
00
00
no
no
no
no
00
T Bs
82
6..
11..
0..
1..
1..
1..
1..
2..
1..
7..
S'n Hell
6
So'n Pacific fd
6 77
0 77
11 77
1 71
So'n Pao cv 4a
1 82
16 82
Bouth'n Rly 4a
1 88
1 68
1 B8
1 (sale) 88
Sland'd Oil of
Calif 8s
8.... 104
1.... 108
Swltx'd Con 8s
6.
B..
2..
4..
2..
1..
1..
1.
101
101
101
101
101
101
101
101
Pere Marat Bs
1 81
Pooples Oas L
A Cos Co Ss
2 74
Peoria 4 V 1st
1 87
Phlla Cnty cr
1 (sale) 90
76
78
7B
78
Series A
1 02
1 02
1 02
Ht L A 8 Fran
erles 11
1....
I::::
6....
Bt L Sow'n en
1 04
1 04
B. ... 04
3...,. 04
St P'l 4 K C
8 L 4a
1 00
St P'l Minn 4
Manl'a 4s
1 88
Sao Paulo of
Ilrazll ct 8s
1 97
1 97
1 97
Seab'd A L a
1 20
Seab'd A I. fd
1 88
1...
1...
6...
1...
2...
100
100
100
100
100
1 90
i 00
1 90
2..... 00
1 00
IS oost
VKofd Brit
a va ion
1 80
14 60
3 80
11 80
U B llrasll 8s
1..... 00
8...
2...
1...
1...
1...
13...
2...
1..
90
00
00
00
00
90
90
90
1 (sale) 00
1 90
1 00
U ff Mexteo 4s
2 87
2 87
U S Mexico 6s
4 40
16 40
2 40
1 40
O 8 R 4 I Bs
8 88
V B Rubb'r 6s
2 78
V n Rub 7a
4 00
U'd 8 Steel Si
6 04
1 04
B 04U
Va-C Chm let
6 01
Va Itallw'a 6a
1 81
1 83
Wabash R 1st
1 87
yen
!
E!o 8
07 T4
a ss
Wn l'aolflo 1st
2..,., 80
West Shore 4s
B 73
W U 0s wi
a.
10...
6...
7...
2...
a...
a..
100
100
100
100
100
100
100
High Low
Liberty tiVia MM 87.40
Ubcrtvl8t4y8.. 87.00 87.88
I bcrty 2d 4n.. 87.80 87.82
i bcrtv nd 4V-. "i'w n1-"0
I bcrty 4tb . 87.08 87.02
Victory notes 4y,B 00.00 08.00
W 4 B Mfg 7s
1.... 101
1.... 101
1.... 101,
1.... 101
1.... 101
Wtleuri Co 1st
1 87
Wis Cent'l 4a
J 70
1:30
1 M
8740
87.88
87.84
01.04
87.00.
00.00
Reserve Bank Discount Rates
Official rediscount rales at the twelve Fed
era! Reserve Hanks are as follows!
Tress. Ijid i.om.i iiKri,
etrs,
K
Thrd Ave a J
8 33
Ttdwater Oil
Co et 0
1 00
Toledo St L A
West'n 4a
2 4B
Union Pao ov
1 80
Union Pac fd
2 78
1 78
Union Pao 4s
1 82
1 82
Union Pao lis
1.... 100
U K of O Brit
I'd 1021
2 00
2 00
U K of O Hrlt
4 I'd 1022
1 98
U K of O Rrlt
4 I'd 1929
Uoston
New York
Philadelphia ...
Clvvelund
Richmond
Atlanta
Chicago,
St. Louts,
Minneapolis . . .
Kansas City . .
Dallaa .....
Han Francisco.
paper, accept,
w
risinna
on o.l "71 1
6 B',1 6
8 . 6 6 6
6 6 8 6
fl 0 0 0
0 o n 0
o n o o
o o ii, ft
B 0 fl 0
fl n n s
o o fl o
6 6 8 6
Liverpool Cotton
today wlThprlcM very Vrunjr on the but;
of !n advance of 182 polrrta for rnlddltni : at
?i 5m. Th. iatei were 15.000 bale... The
U(
i4.foa. " viv .rr -"- -i-v
r .H limn niiei. iiuim aiiioikuii,
wntuns were strong In the early dealings
S"SfSi W.' lns of 78 to 122 points st
liuniiin ",. a, .! asaff
i2o i'. ! oKYi.v ""., 'irrxi
American.
ii -'Kv': -" :", j.ii.: j
middling, fair, in.83nsgooan.uu. ,.. i...
fully middling. l.iua
middling.
ordinary.
H.lllnv 1l.Mi1' Inw
Jj lUIUUI.UB. .-.- "'
18.45li good ordinary, iz.tva, anu
ll.OSd.
Cash Regl.teP Co. Increases Capital
.. Cptumbus. O.. Sept. 7.-Th , National Cash
creased Its' cap" alli.tlorr f r6m S15.0tm.0uu
!!"..' finn Th lncreaso was made. In
ih.mUnVnv". second preferred stock, which
Lh.9.C?S?S.y.S from 18.000.000 to 120.000..
rTo'o' 'SSST!? ild th'e jBtate Qox.rnment In
1 00tt the transaction wae $18.0Q3.
NEW ISSUE
.$2,200,000
River Raisin Paper Co.
Manufacturers of Fibre and Corrugated Shipping Caaes
8 Sinking Fund Closed First Mortgage Bonds
Dated August 1. 1921 Due August 1, 1936
Denominations $1000, $500 and $100. Bonds may be registered as to principal " Interest payable semi-annually
on the first days of August and February at the Cleveland Trust Co., Cleveland, Ohio, Trustee. Coupons
may also be cashed at The Bankers Trust Co., Neiv York City. The Security Trust Co.,
Detroit, Mich., Co-Trustee. Callable as a whole or for the annual Sinking Fund
requirements by lot at 105 and accrued interest.
Interest payable without deduction for the Normal Federal Income Tax up to 4. The Company
will refund the Pennsylvania State Tax up to 4 mills.
The following information is summarised from a letter to us from the President of zhe Company:
Business
T1,e River Raisin Paper Co., located in Monroe, Michigan, was organized and incorporated in
1910 under the laws of the State of Michigan with a paid-in capital of $150,000. The Company, by
elaborate machinery, converts its raw materials almost instantaneously into finished.product, and as
raw material is cheap and abundant, the necessity for large inventories with the accompanying risk
is obviated. Its business has grown steadily and rapidly until today it is the largest manufacturer
of solid fibre shipping cases in the world.
A list of the Company's large customers includes such concerns as Armour & Co., Swift & Co.,
Quaker Oats Co., Shredded Wheat Co., Eastman Kodak Co., Firestone Tire & Rubber Co., Sears,
Roebuck & Co., Liggett & Meyers Tobacco Co.. The Fleischmann Co., The R. T. Reynolds Tobacco
Co., and the Endicott Johnson Co.
Purpose of the Issue
The proceeds of this issue will provide additional working capital. (
Properties
These bonds are a direct obligation of the River Raisin Paper Co., secured by a closed First
Mortgage on the fixed property of the Company, advantageously located on the River Raisin, on the
main line of the New York Central between Toledo, Ohio, ancl Detroit, Michigan, being also on the
main lines of the Michigan Central, the Toledo Shore Line, and the Pere Marquette Railroads.
This property includes 84 acres of land, five large paper mills, three box factories and a silicate
of soda plant, having a daily capacity of 40 tons of straw paper, 75 tons of silicate of soda, 300 tons of
fibre board and 240,000 boxes. The buildings are of the latest type of brick and concrete construction
and the machinery and equipment represent the most improved methods in paper manufacture.
The net tangible assets as shown by the Company's balance sheet as of December 31, 1920, after
giving effect to the present financing and the valuation of the fixed assets by the American Appraisal
Co., are $7,384,550.62, or over $3,356 for each $1000 bond of this issue.
Earnings
The net sales and earnings applicable to band interest, after liberal depreciation and before
Federal Income Taxes, for the five-year period 1916-20, inclusive, have been as follows:
1916 1917 1918 1919 1920
Sales $1,640,200 $2,348,669 $4,540,125 $5,526,702 $9,437,782
Net Earnings 481,238 686,387 1,167,376 768,798 2,616,151
The average annual net earnings for the five-year period were $1,143,990 or over six times the
maximum annual interest requirements of this issue; for the last three years, $1,517,442 or over eight
times, and for the last year, $2,616,151 or over fourteen times.
Despite general adverse business conditions every unit of the Company's plant is running at
capacity.
Sinking Fund
Annual sinking fund requirements call for the retirement of bonds to the amount of $160,000
annually or sufficient to retire the entire issue before maturity.
Safeguards
The deed of trust provides ample restrictions regarding payments of cash dividends; that net
quick asscts of not less than fifty percent (SCo) of the principal amount of bonds outstanding shall
be maintained by the Company at all times that fire insurance be carried in the amount of $4,000,000
payable to the Trustee and that quarterly statements and annual audits be furnished to the Trustee
and to Otis & Co.
Management
The management will continue in the hands of the organization which has successfully brought
the Company to its present prominence in the coptainer industry.
Legality, Audit, Appraisal
All legal matters connected with this issue have been under supervision of Willis Baldwin, Esq.,
Messrs. Bulkley, Hauxhurst, Sacger & Jamison, and Richard Inglis, Esq. The books of account have
been audited by Price, Watcrhouse & Co., and the fixed assets have been appraised by the American
Appraisal Co.
We offer these bonds subject to approval and delivery to us, when, as and if issued.
Price 99 and accrued interest, yielding over 8
ELKINS, MORRIS & CO.
Philadelphia
EDWARD B. SMITH & CO.
Philadelphia & New York
OTIS & CO.
Cleveland
The above stfltistics and statements, while not guaranteed, are believed by s to be correct and constitute
the information upon which we relied in the purchase of these bonds.
LOCAL MINING 8TOCK8
-TONOIVUI BTOC8
Did
Cash Ttor
Jim Butler
......,...
MacNamara . .
Crescent
Midway
Mltpah Ext. . .
Montana
North fltar ...
Tlescuo Eula ,.
Tnnopah Ext .
West End ....
West Tonopah
...........
.04
.OCT
.14
.0.
.13
.07
.04
.04
.20
1,V
.77
.10
Allied Dlv
Alto Dlv ..
llelcher ....
Ileloher Ex
lien Hur .
Ilrouitri Dlv
I livid Kit
Dlv Con . .
Dividend ..
East Dlv ..
Ilarmlll ...
Ilastirouck
JIlKh Dlv . ..
Knox
Ilevert Dlv ..
Ileno Dlv . . . .
Itoiets.
Hller Km ..
Hutherland ...
Ton Dlv ....
Ton Haabrouclc
Victory Dlv . .
Verde Dlv ....
Zone
DIVIDE 8TOCKB
.01
Dlv
.Ul
.01
.Ul
6fl
.88
.112
.02
.01
.IS
mi
0'.'
01
0'.'
........ .Ill
0114
70
in
01
ii"
00
QOLDFIEL.D STOCKS
Ilooth 03
Comb Frac 01
Cracker-Jack 02
Dlamf D. D 01
Florence 30
Goldfleld Con on
dold Dev 03.
Onlrtfteld Deep OIH
Great llend
Jumbo Ext
Kowanas . .
Lone Star
Oro
ni mils .
Silver Pick
Spearhead .
.Ul
.113
.02
.03
I
Asked
.05
.OS
.10
.10
.IS
.00
.07
.00
.22
1A
.so ,
.12
.02
,(IJ
.02
.112
.01
.07
.35
.03
.04
.02
.IN
.01
01
II
.03
,I2
.04.
.02
.02 V4
'72
.(II
.02
.113
.11
.04
.112
.04
.02
.38
on
.04
.02V,
.03
.11.1
.03
.04
1'i
Oil
, 03
MISCELLANEOUS
Amparo 1.10
Arlrona United 09
Caledonia Oil
Eden t
Emma Sliver 02
Eureka Croesus 2N
Eureka Holly 01
Hecla
Mother Lode f'i
Nevada Hill '. . .01
Nevada W'der 17
Success 02
Tecopa Mining; (17
While Caps 01
Wllbert 01
I
ti
2 ',
.11
.04
1 30
.13
12
.20
.01
.30
.01 1;
4J1
1H
02
22
.08
n
on
.03
LONDON 8TOCK MARKET
Trado Slow and Without Feature.
' Oils Neglected
London, Sept. 7. Knslnesn In the
monetary situation wan eoimterartrd as
an Influences on the stock exchange mar
kets today by jiervoiisncss over the Irish
irbolcm. Trndlns was slow and with
out feature.
The oil group was neglected and It
lost ground. Shell Transport and Trad
ing wns 4 and Mexlenn Englc f 1-10.
In sympathy with the tjlnple, rubber
Khares were dull. Changes In the In
diiHtrlnl section were narrow and Irreg
ular. Hudson Hay was 0. Kaffirs
were harder, but quiet. Investment
buying sustained the gllt-edgod list.
Frencli loans wavered with the francs.
Dollar descriptions were Idle but firm
with New York exchange. Profit-taking
caused Argentine rails to droop.
Home rails were flabby nnd without
leadership.
Raw Sugar Market Quiet
New York, Sept 7 The rnw sugar mnr
ket remained qultt and unchanged on the
basis of 4.01 cuts, duty paid There were
no sales nthr than those reported yesterday
Importations Included 8.10 bairs Ban Do
mlnaos to the American Buanr Hellnlns;
Company. BOO bsgs to nn Importar and 2000
bans Costa Rlcas en route to Cinada The
local reflnel market Is unchanged, both
ns to conditions nnd prices
RAILROAD
DENVER AND
Jul itriies
Net oper income
Seven months' gross
Net opcr income
SEAIlOAItD
July (trots . . . .
Net oper. Income
Seven months' (cross
Net oper Incom-Decrae
EARNINQ8
llin OilANDE
11121
J2 71R 010
377 770
in.n7.7S3
1.B0S 872
AIR LINE
13.173,070
I.SHI
25,3.12 1110
047 001
Increa-e
innl.7is
230 704
Oss.tiir.
2,224,018
$44rt,2R
1.275.470
2.04-. 137
4.200,547
Leather Market Continues Brisk
Chlenxo, Sept 7 There were sales of
100.000 packer hides last week, besides a
large amount of country hides and calf
skins Prices continue generally steady. It
Is estimated that moro hides have chanaed
hands the last six months than In any sim
ilar period. Last year's larse accumula
tions rm virtually disappeared Th
leather market corrtlnus rather .brisk par
ticularly for sole lenther
LIVESTOCK QUOTATIONS
Receipts,
Kast nuffalo. N . Y.. Sept.
Rece nts. 150 head. uuii.
rillMmrsli. Sept. 7 . IIOOH
IBOIT head. Steady Heavies,- w. nesvy
rorker. li 7500 85s light yorkers and plga.
SP.2." 00.50.
SHEEP AND LAMI1H Receipts. SO head.
Steady. Top sheep, 15: top lambs. IIO.
CALVEBHecelpta, 50 htad. Higher. Top.
tlS.50. i
7. -CATTLE
lower. Calves,
receipts. 100 head 'Nteady. I5WI4.
HOOK Receipts. 1100 head, fl'ows 15
25r lowers heavy. xfl.23lfr0.R0; mixed. 10.50i
11,75s yorkers, JOaCtfi.Bftt llrht jorkers and
tfxs, tfl.uOs rout-hs. 10.5000,75. stags, I4&5
SHEEP AND LAMH8--Reoelpts, 800 hend
Lambs, strong nt f 4 novlO ftOi others un-
cnangea. a
U. S. Certificates and Treasury Notes
Int Maturity
Rale Dale
V4 OM 1 1121
5i Oct . 1021
3 Dec , 1U21
514 Feb., 11122
R'i March 1022
t5 March, 1H22
f5t June. 1022
Asked
Rid
inn 1-32
100 1.10
100s
100W
100 3 32
100 0-32
100 1,
10O 3-111
101)1.
'.i...mni fr-nm nnrmnl Federal Income tax
tAeceptable for payment qf Income tax due
on date of maturity.
Aug
t'SH Juno,
1 12
1021
Tletrf
lOO's J. 23
100 5-32 4.21
100J4 4.11
100'! 4 00
100 .- 32 D3
100 J3-32 4.110
KinW 5.12
loo 5-in B.ln
101 5 34
DIVIDENDS DECLARED
Associated OH Company, quarterly t
fl
payable October 25 to stock or record Be
ber 30.
J, C. Penny Company, quarterly I1.7B tm
preferred, pavable September 80 to stock et
iceord September 20. (
Philadelphia Traction Company sml-an4
nuil S3, payable October 1 as rtaistsrtsl
Beptemuer- 10,
P. Lorlllard Company, quarterly 3 per e"'
nn common and 1 r cent on prsfarraeV
both payable October 1 to stock of recora'
September 15,
I.'
nd, both payable October 1 to slock of rc-
iChlffh Valley Railroad, nuarterlv 144 nar
rent on common and 2H per cent on prafsr
3 per cent on com-
sin
ord September 17.
Westlnghourn Electric.
mon and oreferred Common Is nsvatilA fink
tolier 31 to stock of record September 8111
preferred October 15 to stock of record Sep
tember 30.
American Cigar Comnanr. auarterlv ill
per cent on preferred, abte October 1 to
imr
stock of record Beptemfi
15
wcymnn iiriuon uomnany.quarieriy2,i par '
rent on common end li per cent on prtfer-
rr.j, mini iiihaui uviouer i io siock or reo
ord flenlemlMr 10 1
rjeoraa TV. Helms Comnanv. rtttBti..
2t4 .per rent on common and 1J per cent nn I
preferred, both payable October 1 to atootc 1
"4 iwnu iivim.nii.ci if,
BAR SILVER
Par 'liver was 'id lower In London today
more I dan an of flee building"
Broadway and Fifth Avenue
at Madison Square
New York
THE
FIFTH AVENUE ,
BUILDING
Just inside the portals of
this building ib a roster of
tenants, that speaks for itself.
So many leaders in so many
lines arc included that' it
might be called a "Who's
Who in Business.." Thou
sands of buyers consult it
daily.
Bonds for Investment
We own and offer at all times an extensive list of investment bonds. The
bonds mentioned below are selected from our September Investment Circular
which contains over 145 of about 230 issues we now have on hand.
Our unusually wide assortment of investment bonds assures any purchaser
of a selection, with our help, if desired, suited to his own particular require
ments. We invite correspondence or a personal call at our offices.
We doal in all iasuoa of United States Government securities
Municipal Bonds
Rate
Federal Land Bank 4V2 & 5
State of New -York. . '. Tax Ex. in N. Y 5
Detroit, MlcL, Public Utility , . . ..... . . . A. . . 5V2
Scandale, N. Y....Tax Ex. in N. Y 512
Kaniat City, Kansas, School 6
Columbus, Ohio, School District 6
State of South Dakota Rural Credit .., 6
Union County, Ohio A 6
Norfolk, Va. V 6
Martinsville, Va., Street Improvement & School 6
Railroad Bonds
New York Central R.R. Cons. 4
Illinois Central R.R. Coll. Trust 4
Terminal R.R. Associaticm of St. Louis 4
Pere Marquette Ry. First J 4
Pere Marquette Ry. First 5
Maturity
Various
Various, 1944-67
Aug. 15, 1944-46
July 1, 1926-49
July 1, 1931-50
Aug. 15, 1931-42
Jan. 15, 1936
Dec. 1, 1923-24
Aug. 15, 1922
April 2, 1955
Price ang Yielding
Interest About
Market
Feb.
Nov.
Jan.
July
July
1, 1998
1, 1953
1, 1953
1, 1956
1, 1956
Canadian Government and Municipal Bonds
ProTince of Saskatchewan, Canada. Payable in Canada. 6 Feb. 1 1936
Province of Alberta, Canada. Payable in Canada , 6 April 1 1936
Toronto, Ont, Canada. Payable in Canada 6 June 1,1933-46
St Catharines, Ont, Canada. Payable in Canada , 6V2 Mar. 1 1925-26
Vardun (Montreal), Canada , SV2 May 1, 1927
Province of Alberta, Canada . .,. .: ....it... ...... . 5 May 1 1925
Short Term Bonds and Notes
Alabama Power Co 6 July 1, 1922 21
Union Electric Lt. & Pr. Co. Conv 7 April 1, 1923
Crowell & Thurlow Steamship Co. First 8 Mar. 1 1923-24
Louisville Gas & Electrjc Co. First 7 June t 1923
Milwaukee Electric Ry. & Lt Co 7 May 1, 1923
Long Term Bonds and Notes
Southern California Edison Co. Gen. & Ref 6 Feb. 1 1944
Wisconsin-Minnesota Light & Power Co. First & Ref.... 5 May 1, 194419
Adirondack Power & Light Corp. First & Ref 6 Mar. l' 1950
I, & Co 7 Aug! 15, 1931
San Diego Consolidated Gas & Electric Co. First & Ref. . . 6 Mar. 1, 1939
Idaho Power Co. First Lien & Gen 7 jan j ' 47
Pennsylvania Pr.& Lt Ce. Gen. & Ref... Tax Free in Pa. 7 Feb. 11951
Central Maine Power Co. First & Gen. 7 june 1941
California-Oregon Pr. Co. First & Ref. Sinking Fund .. . 7V, Feb. 1,1941
Puget Sound Power & Light Co. Gen 71j, j ig41
Duquesne Lt Co. (Pittsburgh) Coav. Tax Free in Pa.. 71e jiy 1,1936
Milwaukee EL, Ry. & Lt Co. Ref. & First Tax Free in Pa. 712 june f 1941
Sun (Oil) Company Sinking Fund 7 April 1 1931
Penn Public Service Corp. First & Ref. Tax Free in Pa. 7l8 juy j' 1935
,A copy of our September Investment Bo ' Circular will
be sent to investors upon request. Ask for circular F-lll.
102.42
100
100
100
72
72
73
68
8214
97.59
97.59
90.37
Market
4.70
5.25
5.40-5.20
5.50-5.40
5.65-5.50
5.75
6.00
6.00
6.00
5.55
5.95
5.86
6.25
6.25
6.25
6.25
6.25
6.30
7.60
7.50
7.50
98.54 8.00
99Va 8.25
98.40 8.00
98.47 8.00
Market 6.93
77 7.00
Market 7.05
98i4 7.25
87 7.30
96l3 7.30
Market 7.35
95i2 L45
100 7.50
99 7.58
99 7.60
97Ve 7.75
Market 8.00
Market 7.80
Harris. Forbes & Company
Pino Street, Corner William, New York
Wldener Building. Philadelphia
Harris, Porbe 4 Company
Incorporated
Boat on
Harria Treat and Sa-rings Bank
, Beo4 Department
Cblomo
II L s
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