ii ! ! wi iMii i "ass TmmFwmmmmmimmmmmmmmummmm rvrrzrrv'-xrjz?$VE..v:.z.r.i.3vzw?rr" -a a'j- - ;.T,r"."r. ,t,;: , '-r- --t-j- . ,. , iV ' ",r1'"' ' "H-i" ' - - ' " ' V .' '--.- ?'.,r,4- "f.)' - ' . ' EVENING PUBLIC c- '?'-W at ,tf..j-'vS7 7-v v-1 -cv,Ty,'M BEDaEJl-rairDELPBIA, MOTOAX SEPTEMBER 26, 1921 2& K 4 lmPl TVe announce the purchase from the United States Railroad Administration of $5,246,700 Equipment 6 Geld Notes Dated January 15, 1920 Redeemable en any interest date at the option of the issuing companies at 108 and interest. Interest January 15th- and July 15th. Principal and interest payable in New Yerk at the office of the Guaranty Trust Company of New Yerk, Trustee. Coupon Nete's in denomi nations of $1000 and $100, with privilege of registration as te principal Maturing annually Jan. 15, 1922 te Jan. 15, 1927 inclusive $1,471,200 Atchison, Topeka & Santa Fe Railway Company $1,186,500 Central Railroad Company of New Jersey $1,212,000 Chicago, Burlington & Quincy Railroad Company $1,377,000 Norfolk & Western Railway Company We offer the above Notes subject te prier sale as follews: Jan. 15, 1922 Maturity te yield 5.50 Jan. 15, 1923 " " " 5.85 Jan. 15, 1924 " " . " 5.85 Jan. 15, 1925 " " " 5.80 Jan. 15, 1926 " " " 5.80 Jan. 15, 1927 " " " 5.75 Temporary receipts of the Central Union Trust Company of New Yerk will be delivered en or about October S, 1921 pending preparation of definitive Notes. Legal details as 'te this purchase will be passed en by Messrs. Stetson, Jennings and Russell. Salomen Bres. Kidder, Peabody & Hutzler & Company NEW YORK BOND SALES i. Am T B.. 2.. 4.. 1.. B.. B. Adams Exp 4 R..... 0314 Am'n Ar'e . Chem7tt , n 074 B 07 2 07 B 07. A t) A IVk Si 1 78H 1 78 2 78H E 7BH 4 78 78 Am T A T ell 2 83 Vi 12 84 4 84 Am T It T Bs 83 H A T 01 101 T4 101 102 101 101 101 Ann Arber 4 2 B4',4 AT8I4i 2 78S 6 78 8 78H Atch T ft 8 F E O dlv 4a 10 87S IB 87 Atlas Pwd'r l. lVts wl 1 00 Halt Ohie cv 1 71 P 71 ri 70 4 70S Halt ft e am 2 88 Halt & Ohie 4a 2 71 B 71 Halt ft Ohie Bs 1 73 1 78V, Unit ft Ohlj On 1 M B 04 ' 04 D ft O P I.. E ft W Va 4a 7 08 Halt ft Ohie 3 "W'n 8tt 2 84 1 84 1 84 Bell Tslephens et Pa 7a 1.... 105 D ft 7th Av en 8 44 Huah Uld B 1 78 Canad'n Nth'n 0V48 rets 1.... 101H 2.... 101 1.... 101 8.... 101 1.... 101 1.... 101 Canad'n N 7s i.... 10m CU Pacino 1st 8 70 Cere d Pasco Cep'r 8a SALEB IN M0001 D da Nemaura rwd'r 7a 0 00 0Q 8 00 B 00 1 00 Dul Llcht.Os 2 04 Erie Osnl I.len 1 (sale) 43U Erl II 11 ey II 2 88 3 38 flak nub'r Ce 8a rets 2 00 B 00 Dens' 1 Else Ba 4 88 1 88 Ooedyaar Tire ft Itub 8s $31,154,000 The Pennsylvania Railroad Equipment Trust 6 Geld Certificates Issued under the Philadelphia Plan DIVIDENDS PAYABLE JANUARY IS AND JULY 15 Entire issue (but net any part) redeemable en any interest date at 103 per cent and accrued interest. Certificates in denomination of $1,000 each with privilege of registration as te principal. TllP Cnrtifirnrec tmw -YrwI tinnr in fintutnl iiict nllmnntc -f innrnv!mii.ili CJ QQ.l fWl f-... lanUarv l. 109ft r.TnniUHrKVlO Tlmvarnnart rtf n tr.tnt iccha ,-.f CSQ zl 1 9 fW. ,.,..: C anuary 15, 1921, te January 15, 1935, of which the Certificates maturing January 15, 1921, have ten rrtA These Certificates arc issued against standard railroad equipment under an Equipment Trust Agreement between the Director-General of Railroads, the Railroad Company, and the Guaranty Trust Company of New Yerk, Trustee. . We are informed that these are the only Certificates which have been issued under such agreements under the Philadelphia Plan. SUBJECT TO PREVIOUS SALE AND CHANGE IN PRICE, WE OFFER THE ABOVE CERTIFICATES AT PRICES TO YIELD 5.80 UPON THE INVESTMENT IF HELD TO MATURITY AS FOLLOWS: 18.... 103W 3.... 103V 1.... 103V 4.... 103H 1.... 103 1.... 103V4 1.... 103H Cleve' t Frenctj n Ttta rots 0BH m 0BH 05 S OSS 0BH nsn fMi 05 05 05 05 05 DBS 05 H 05 Geve't V R 8s li.. a.. 3.. 50.. fl.. 2.. 1.. 12.. 1.. 2.. 1.. 1.. 4.. 1.. n.. 13. 100H 100 100 101 100 ft 100 101 100 (, S.... 100W 2.... 100H Q Trunk 0 wl 10.. V.'. 2.. 1.. ).. 4.. 4.. 0B 05V4 85 05 U 0BM. 05H 05 M 85H 1.. 10.. 32.. 1.. 20.. 9.. 4.. n.. B.. ii.. i. 108 100 100 100 i 100 ' 1 0! 'i 100i 100 J 00' 100W 100 C A Ohie 4 Vi 1 77 C 4 O cv 4Hs 1 80 1 80 CU t O cv Bs 4 84 Vi h 844 Chi & Alt 3'n 2 37V4 1 37V, Chi H & Q m 2 70'4 1 70V. 1 70V4 C fl A Q 0V 10.... 101 ID.... 101 2 iem (i 1041. s iem ail ti a w 4s 4 (sale) 52 4 B2T4 1 B3 Chicago Mil & St P'l 4s 1 70 Chicago Mil tc StP cv IVis ft 60 Chicago Mil ti St l' cv 5s 2 03ii 3 03'4 2 W"s 8 05 I 4 05', (' tt Nnn ilVi3 25 103 1 103 e n i i i' h B,.... 70 3 701.4 3 70Vi IB 70S 4 704 1 70V4 Chicago Union Bla ct 0'4 B.... 107S 3.... 1074 Chile Cep'r 7s 1 05j chintf au v Hu-K Illy Bs 2 47!4 5. 2. B. B. B. 3. 2. 1. Or'd Trunk 7s 10.... 1034 1.... 108',4 Q Nth'n n 7s 2 ... 104 2 10l4 B.... 1044 5 1014 5 104 1 104 Hud & Man M 8 08 2 08 Hud ft Man In 5 40 5 40 2 40 III Central fd 1 78 l.t... 70 Ills Cen 6 4s 1 04 III C St t. ft N Or Jt B 58 5 85 Inter M ct 44 0 144 50 14 Interb II T fd 10 r.5T. 8(siUa 60 fi(sale) 1 12 21 8 4 I M Marine 0s 1 81 1 81 1 81 1 81 2 81 .lap ileve't 4s 2 73 1 72 Kmi C & S 3s 0 50 Kan C & S 5j 5 70 B 70 1 704 Kelly Sprlng'd Tire 8s 2 00 1 00 B 00 B 08 B (sals) 00 1 80S 2 00 4 K llclKlum 0i 1154 1 3 Nil n n Ce of Mex 4Via 1 804 New Or Tex Mex Ba 8 604 N T Ct'l 34a 10 08 N V Ctl en 4s a 72 N Y Ct'l 4 4a ... 80 N T Cent't s l(sale) 00 10 00 2 00 10 00 4 054 2 80 N T Chi & Bt Leula 4a 2 81 New T N 11 A Hart'd 0s 1 B4 B 644 1 844 14 644 1 544 N Yk Tel'e 0 8 00 N'lt A W cv 0 10 T03',i 13.... 103S North Wsste'n Hell 8 7a r..... 101 2.... 104 2 ... 104 B 101 N 1'aelflc II 3s 2 68 N Pacinc n Cs 5.... 103 Nth 8 Twr Bs a .... 82 2 824 2... 82 Ore A Calif B 1 03 3 83 10 03 Oregon H H A Nal Ce 4s 1 81 Oregon S I. 4s 1 85 1 83 Ore-W H'd Ce Navl Ce ts 1 73 Pnc O A i: 6s 1 8.1 1 R3 Packa'd Moter Car 8s 2 00 Penna H II ,1s 10 80 7 Ml Penna 11 04a 10'Jf, 1. 1. 1. 8. 10. 10. 8. 5. 5. 1. 1024 102 4 102 102 4 102 102 102 102 102 102 6.... 1024 UKO Ilrtlan A I'd 1021 1 004 UKO Bttlan A I'd 1S22 1 08 6 08 1 08 UKO Ilrtlan A I'd 1020 23 6.. 3.. 1.. 7.. 85.. 6.. 2.. 1.. 10.. 1.. 1.. UKO Hrtlan A I'd 1087 4 80 4 80T4 fl 80 fl 80 1 80 4 804 U 8 llrarll 8s 01 014 814 014 814 81 014 014 Dl 014 014 81 2. a. a., n.. 13.. 1.. 1.. 1.. i.. 1.. 4.. 100 00 10014 100 100 1004 100 100 100 100 100 10 004 U 8 Mexico 4 s 1 .... 42 4 42 0 42 0 42 1 42 5 42 U S Mexico Bs 2 B04 10 67 3 67 10 67 10 NB7 11 h n i 1 ti 1 00 U H Rubb'r 7s 3 084 U B Hub 74s 1.... 100 1.... 100 U'd 8 Steel Bs 1 OB 2 04 1 844 Utah Power A Light Ba 1 824 1 824 Vera C's 4 4s 2 284 1 20 Va-C Chm 1st 4 03 Va-C Chm 7 4 2 024 5 0214 1 024 Va Rallw's Ba 0 87 Wabash II 1st 1 80 10 884 W'n Pacflc 1st 2V... 804 I .... 81 W Union 44a a.... 102 W'n Union Os 1 87 W Union 0 4a 2.... 20..., 1..., 10..., 7..., 1..., 2.."., West' a 10211. J02H 1024 102 102H 102 102 A 1-lee Mfg 7s 10.... n.... 4.... 1.... 7.... 8.... 10.... 0.... n.... 2 ... 1.. 102 102 102 s 1024 102 s 102 102 103 103 103 102 Wicks' Bpncr Steel Ce 7s 0.'.... 024 2 02 Wilsen Ce 1st 4 88 1 884 1 884 Wis Central 4a 1 .... 73 0 72 3 .... 72 T.Ibcrtr .T,6s High HN.i Liberty 1st 4V. h.. IM1.-1II Liberty 2d 'it... OO.r.O Liberty ,'M 4'4h... H MX) Liberty 4th 4V4a.. 00.80 Vie Notes .'''is... 00.112 Vic Notes 43,4 f. .. 00.32 T.OW 88.40 00.0(1 00.08 OH. 70 00.40 00.32 00.30 1:30 V M. R8.G0 00.40 oe.no 03.00 00.80 00.112 00.30 U. S. Certificates and Treasury Notes Int. Hate t1 54 TT Maturing Date Dee.. JU21... Feb.. 1022. . March. 1022. t5 March. 1022 t5 March. 1022. tn4 Jurre. 1022.. t '54 Aug., 1022. 6 Sept.. 1022. t5 June. 1024 . t54 Sept.. 1024.. Illd 100 5-1 l ioe a-ia 1004 100 ILlfl 10(1 7-111 100s I) B-Ifl Asked Yield 100 7-10 4.00 IUO n-10 4.11.I J 00 KiO 5-10 100 0-1U 1004 101) 7-lfl 100 5-10 101 4 41 4 50 4 58 4 75 4 08 4.02 3.25 100 100 8-10 101 '4 IOO 0-10 100 11-18 5.25 Exempt from normal Tederal lncenm tax. tAcceptable for rmrment of Income tax due en date of maturity. Extra by Ohie Fuel Supply Pittsburgh. Pa., Sept. 20 The Ohie Fuel Supply Company has declared the regular quarterly dividend of 24 per rent and nn extra 2 per cent, payable In Liberty llnnd", both payable October 15 te stock of recurJ September 30. Reserve Danks' Discount Rates erflea rediscount rates at the twelve lib eral Reserve Banks " as follews: Treas. I.lb, Cem I HKrs. ctfs. bends, paper, accept. Iloaten ' New Yerk ",, Philadelphia 64 Heveland 64 Richmond Atlanta 0 Chicago fl Ht. I.euls Minneapolis 64 Htrui n Ualla 64 ban Francisce . . . 64 K Sit fl II II n 11 11 1 54 n r. 6 6. n 11 11 11 11 n 8 K4 64 64 2Be. Kxchange en Londen. 61 1 B0 rive per cent lean, 81f 45c. The dollar wna quoted at 13f 814 c. r nl Prices Weak en Paris Bourse - i- un en T)Uaa us a 1 riff fhM H((ra or, 'V. ' 1 -- ttt . ,,... --. - Bourne telfty. Three per cent rentes, oer USHnnimmniimi -i wapapag Hr-iiT)n rr irrnr I El BBlfiltj -1 if II I '- "HI wMmmu'n Decreasing Interest Rates show the trend of the bend market threucli the last few months. New bend luaues are constantly bearlnu lower Interest rates In re flection of this fact, Turchate sound bends today while an attractive yield Is atll! ob tainable. List upon request. BATTLES & CO. Established I90 Independence Square (Eas4) WMmmwwwwMffl Equipment Bends Security Marketability Large Income Price te return 8 Free of Tax Edward V. Kane & Ce. Merris Building IMuMMifil 18 riir -pWMMMSMMMVMWM B5 654 B5 B5 4 654 63 4 05 115', 05 V 0.M Penna P. It 7s 1.... 105 B 1014 Pee Qaa I, A Ceal Ce 5s 8 77 Pere Marqt 4s 1 07'a O(sale) 07 4 0 07 4 10 074 Phlla Cnty cv 2 08 1 08 Phlla Ilwys Ii 1 44 Pub Svc Cp'n N Jsy Bs 1 08 Reading Ce t" B 77 Rep Chile rcta 8 084 1 084 B 084 1 08 R Cuba 4 4" 1 07 R Cuba Bs '14 B 754 B 754 Rrp'c of Uru euy 8s wl 1 00 4 2 0!l 4 2 004 1 00 2 004 Rie O A W'n clt 4s 3 87 St L I'n Mt A 8 Illy Ba 1 03 2 08 St L I lit & S It A G dlv 4s 2 72 St L A 8 K aj 1. 05 ,St 05 Iv Ilels'm 74s 2 102 1.... 102 1.... 102 1.... 101 4.... 102 1 102 IC Ilelg'n rcta 1.... 101 2.... 101 1.... 101 2 1014 Kingdom Den mark ct Ss IS, 1928, at 101.04 and accrued interest 15, 1929, " 101.18 " 15, 1930, " 101.30 " 15, 1931, M 101.42 15, 1932, " 101.53 " 15, 1933, " 101.64 " 15, 1934, " 101.74 15, 1935, " 101.84 " United States Pending the preparation of the definite certificates temporary receipts of mortgage & Trust Company, New Yerk, exchangeable fur definitive certificates when received by them, will be delivered. The right is reserved te reject any application and te allot a smaller mount than applied for. Kuhn, Leeb & Ce. The National City Company Guaranty Company of New Yerk Dillen, Read & Ce. Kidder, Peabody & Ce. Lee, Higginson & Ce. Brown Brethers Ce. Blair & Ce., Inc. Cassatt & Ce. The Union Trust Ce. of Pittsburgli Ghard Trust Ce. of Phila. Commercial Trust Ce. of Phila. Continental and Commercial Trust and Savings Bank, Chicago 1 474 Cli xt Ul'lKUli 8s rets 1 2.. . 1004! Ct.N ChrH'n R'l 1.... 101, City of Copen hagen 64s 1 814 City Lyns Osl 1 84 'I, City Mars'H 0s B 84 City Paris 0s 1 00.15 City Zurch 8s 1 101 Cl'd Cln Chi 4 Ht Le 4s 1 50' 4 .. . 0il Cl'd i.lu Chi A St L 4s U 8(Hj Cl'd Uln Chi A 1 Ht I. 0s 5 01 Cens'd Uni. 1.... 101 1 ... 102 1.... 101 1 101 Uuban A 8 8s 2 08 3 00 Cuban C 8 cv I.. .. 00 4 2 00 Del A Hud cv 2 804 1 80 Di'nuiurk Cun ct A 8s t 102 10 1024 I . . I024 1 103 Denmark Cen ct II 8s 1 103 Den A II O (d 0 44 2 44 Den A II O 4s 1 07 4 Dtt Edl Ce 0s 1 01 2 01 1 01 D Match 7 4s 1. 105 Hern Hep'e Bs 1 77 De I'anadi "JO 5 OH, 10.1 10.1 103 103 102 103 4 103 Vi 103 1034 Ivlnifilem Ner way ct 8s 1. .. 1004 7.. . 1004 Mwtden 0s 2 8. 1. Lnke pTore M ft 4 s ".'8 20 . 88 804 804 80 4 80 4 804 HO 4 HO 4 It. 11.. 1.. B.. 2.. 10.. , ... 00 00 , ... 00 110 00 A S V In . ... 58 .. 58 58 BH 58 584 884 2 B8 St L A 8 I Tan Series A 1. 3. a. 8. 10. 10. 1. St L A H Fran Series 13 1 70 1 7H4 2 .... 70 1 5 704 St LAS Fran Series C 1 034 8 03 8 03 1 04 St L Sewn en 2. 68 04 04 04 03 04 03 4 00 2 fid 10 60 1 05 1 ... 05 St L 8w'n 1st 1.. .. 70 St L Sew'n 5h 1 ... 07i. ..il Snerw M Ha Paule of S la '31 ! llrazll ct 8a I 80 fl. ... 07 8. . S3 .Seab'd A L a J l.eh Valley fd 3 ... s$ 1 ... uufeineaii'd A I. fd Penna. R. R. 6cc Equip. Trust Certificates Maturities, 1928 te 1935 Price te yield 5JB0 Reed A. Morgan & Ce. Mmbers of the Phlln. Stock Kxh. West End Trust ItUlg., Phlla. Beles 5-Westwood Menfter's Phila. ieck. Exchande INVESTMENT SECURITIES LaniTitle J51d$. Philadelphia PHONE- LOCUST 4721 iBcrbvil ran. & Ce. tfubllr Utility errurMce Bteth Exrhnngr BuilhUirt. JtriAi. I.elilsli Ir. Sec. fl, 1927 Portland Kwy. Lt. & I'r. 5s, 1012 I'enn Power & I.t. 7i. 1031 Ht. C'lnlr Ce. ; A- Klect. 5s. 1059 Teledo Kdlsen 7i, 1011 West l'enn Power (in, 1924 Wis. Klectrlc Vr. 7Mi, 104". 1'lninen: Locum 020-l-2-3-4 Private Phenea te New Yerk A Bosten ri '(Redmond & Ce. I New Yerk Philadelphia STANLEY COMPANY OF AMERICA A and B STOCK II. F. KACH.MAN & CO. n.Mii:if. Members .Veu) Verfc ami I'hilrutrlvhta nteclt i iai m.m r r Maintaining a Standard 70R the same reason that the best investment house will net issue unsafe securities, se Ne high-grade Evening Scheel will lower its stand ards by offering such short, experimental courses as neither profit the student nor serve the community. By maintaining its one standard of sound, com plete courses, the Drexel Evening Scheel has, year by year, grown in strength and prestige. Accounting Investment Real Estate Salesmanship and Many Related Subjects ENROLL THIS WEEK DREXEL EVENING SCHOOL FOUR BOOKS en the Stock Market We- lmve prepnrctl for free illHtrlltutlen te Inventor four IioeUh rIv-Imb Inthimte dclnllH about stecUn 11 ml the iimrlirt .Semi for your copies. Edwin E. Kehn & Ce. Mimbirt Comeliilttled Stock I Exchange el New Yerk ' 1522 Walnut St., Phila. ! Nru erk Trenten llimtim l'ltlubnrcli UllniliiElilii Petlatllle Edward B.Smith & Ce 1411 Cheitnut Street M rubers New Yerk nn, l'liliadelphla rleck i;x huwies Investment Securities I'liiladclpliin New Yerk ' WIEGriER,ROGKEV&CO. -Certified Public Accountants Drexel Building, Philadelphia AUTOMOBILE INSURANCE Mill KTV Ml Tt , I. lSt'lANCK TO. I'linne: l.prnt 11070 20-2.' mi. 1Mb St, riNANTIAI. Sierlul Mei'ttligM I'Jr' A SI'l.LIAl. ill.KTI.NH OF TUB -" stnrKhr'idera of The Jleiire AMille ( innpiiny H de held at thu Kerieral eltlce f th- empany. en thn first duy nf Novem. ber. I0'!1. ut 111 e'diick A. M., te tuke action en tipiren or fileapprevnl of the proposed lmi" of 1100.000 of 10 ""e cumulatHe pre fi-rred stork, te be exchanKcd for the present itsue of 5100.000 of 7'4Ti preferred Hteck. SHKI.TON A. limits, Serretnry Vnniml NOTIf K TSi-r- TAKI k,ii h. jrie rintr f,f The I.iUi- 'uperler Meeting THAT TIIH A.NSIAI, of tlm Hhnrehnidem ('nri)oriilleti hi;i i.a I- I ti UrilneMMr the 3tli ilnj of October. ft. Ht th hour or 11 e rinru In ih, fore. nnm. nt th prlrulpal nflkn of tie rempanr. 1 li I irn. tri. ''am ten N w JerHey. f.r th- pnrp',-.- of the eU'ctlnn of dlrerturs. n' r. I s r rf . ml. If nppne'l, cenflrmlnj: th repi.rt "r th Heard of Director uf the com panv fnr th, flecal vnr erdlnir June 30. I'f.'l hii'I 'if (imelderlnK nnd If nppreved, rai fv Inn atnl t unflrinlinr nil the arte, ani ii-nr rtinB-, of the Heard of Dlrertere of u reinimtn dune and tak-n ein 1, th last it trial nieetltiK of th" Htocltheldre of the- n ijfin tu.d for the trane.tctlen of such further nri'i in'it-r bislnBsa an may properly iemp lefnr" th. m-etlnir T,. i k ftjn"fer bonk will 1. r'ed for hr r'lttMj-e of such nietlni? from enl after ' 14ti 1 i September, 1021 at the 1 -!- if H e' 1 lock In the nftt'iiieutt until h 1. 1I1 di of diteber IHJ1. at the l.eur jf u n 1 r, Y In th- f'lronenn Iitt' I I "into i tnida Auitl"! i."- 111!1. HI'V TV1.(IR S' e-. -nr- Dhlil.'iul- IIARRISUURG LIGHT AND POWER COMPANY , lliirrlbliurK. Pn. Hept i'O I oil The Itnard rf lurectnrs ia.s declared reffiilrvr iiiiii'cr' I ' Mepd of one und one ene Inilf per i ent HVj.l en the preferred ete. K f lh 1 'imwni p in d 1 "-eptrniher .10. 1MI, tn tn Kh'ild're of r nrd Snntmlier i'n 11)51. It IV STOXK, Tren-urer. "aI'TO.MOHII.K ItVNKINti COUPOIIATKIN I'hlladfdphlu. pn. At tie reeular Sepienit er meetlrjr of th Heard ff I) rerteri of thin corperatletn thl nnar" r.v fluldr-rd en 'he preferred -hare mj been 'If ared inble a of September Sl, ut lie rain of H'7, tier annum Heeks , , . .1 .- ptembur u ', P. M Checks will lie in 11, vd P It NHfMW Treaeurer. I. & Mer- Ts I. 1004. I.erlllard C Ts 1.... 10T. 2.... 10Ti (x & Nash 1 2 83S Mex Petr'm 8s 1 00H i WIS fl . . . 100 M Oil r 8s 1 024 1 01 Vi Mid 3 & Or ,1b 1 . . TT', '- .... TT$ . TTH i! . TT M & StI. en An T2 M .StP & .1 Bte M UVjs Ml 2 00K 111. In. 4. 1. 3. 3. M I 10, 10 .. 41 14 Mil K 4. T 4 1 .... 01'j Mi it & T ,',i B. ... 01'. De Canndu 'i'U.Me Paclllu 4 a. 1.. 1.. 8.. 8.. 1. 1)4 Vt IM'i PIV. 041, 04 03 H De c"d 'at 5 01 i 1 1 . 10. I. 10.. 1.. ftftH . ... en, Ment' a Pwr 8s 1. . 8T 1 . . HT'. 1 3T Senb'd A I. fls 1 471 Sinclair C Ol Cerp'n 7H 1 02, 2 0i"4 7 02", 0 03Vi 20 P2M, 2 . y S'n'p'a'cine fd 2 78H 8'n Pae ev 4 s 10 .... 81', II H4'. 1 H4', Sn Pae Teim'l J... . 74 1... . 74 Sn lUilwav u 7 no 10 Bill, 2 BUI, Sn Hallway fts 2 8HH 10 Bi 11 fitfv Stand'd Oil of Cullf tie 1.... 104'. 2 104 Ti ll'iiSwtr'd C'.n sh 1.... 10(1, 4 . ion 1, 1 ion. THawater tU Ce ct 0'3s t 08, I'nlen Pae pv 1 .... RRS I.. .. KHH IB bR' Unon Pap 4s 1 82H Union Pae 0s 1 .. 101V, 3 ... 101 Un Tank c T ... no . . 100 . ,. os . . me . .. no; . .. 00', . . ioe & T 2nd New Offering TAX FREE "Instrumentalities of the United States Government" $3,250,000 Joint SteckLand Bank 5 1 Bends Issued under the Federal Farm Lean Act Dated Nev. 1, 1921 Due Nev. 1, 1951 Price 101 and Interest Te Yield About 5 te Optional Maturity and SVz Thereafter Redeemable at par and accrued interest en any interest date after ten years from date of issue. Coupon Bend fully registrable and intcrchanReable. Denomination, $1,000. Interest payable semi-annually, May 1st and November 1st. Principal and interest pay able at the bank of issue or through any office of the undersigned. Exempt from all Federal, State, Municipal and Lecal Taxation Excepting only Inheritance Taxes AUTHORITY-. By Act of Congress these bends are declared instrumentalities of the Government of the United States anJ arc prepared and engraved by the Treasury De partment. By a decision of the Supreme Court of the United States, rendered February 28, 1921, the constitutionality of this At and the tax exemption features of these bends were fully sustained. SECURITY Obligations of the issuing bank, shareholders' liability being double the amount of their steckand collaterally secured by cither first farm mortgage's or United States Government Bends or Certificates of Indebtedness. GOVERNMENT SUPERVISION-Thcsc banks operate under Federal charter and Government supervision. Their bends and the collateral pledged as security have been approved by the Federal Farm Lean Beard, a Bureau of the Treasury Department of the United States Government. TAX EXEMPTION-PrvKip.il and interest or thec bends arc cxenpt from Federal, State, Municipal and local taxation, except Inheritance taxes This exemption includes all Federal Income taxes. A LEGAL INVESTMENT for all fiduciary and trust funds under the lunsdictien of the FcdcralGevernmcnt and acceptable as secu rity for Postal Savings and ether deposits of Governmental Funds, and the banks may be designated by the Secretary of the Treasury as financial agents of the Government and depositaries of public funds. Banks of Issue and Lean Territory Bankers Joint Stock Land Bank, Milwaukee, Wis Wisconsin and Minnesota Liberty Joint Stock Land Bank, Salina, Kans Kansas and MUseu-' Lincoln Joint Stock Land Bank, Lincoln, Nebr Nebraska and Iowa Fremont Joint Stock Land Bank, Fremont, Nebr Nebraska and Iowa Dcs Moines Joint Stock Land Bank, Des Moines, la Iowa and Minnesota Iowa Joint Stock Land Bank, Sioux Citv. la Iowa and Seuth Dakota AU statements herein it official, or ba,ed en Information which e regar J si reliable and while we de net guarantee them, they are the data upon which we have acted in the purchase of iheir bend,. The Federal Farm Lean. Act This Act, approved by Cen-cre.-s, July 17, 7'jifi, was deigned primarily te piexide capital i'rr agricultural development and te create standard forms of invest' ment based en farm mortgages. The Act creates under the Treasury Department a Federal Farm Lean Bureau, under the gen eral supervision of the Federal Farm Lean Beard, the latter con sisting of five members, including the Secretary of the Treasury and fouretheis appointed by the President with the approval of the Senate. One of the powers of the Fed eral Farm Lc an Bureau is te char ter Joint Stock Land Banks with a minimum capital of $10.000 which must be fully paid before it can issue bends. A Bank may make farm leans in lie state in which it is located and one adjoin ing state en the Government's Amortisatien Plan, which pro vides for the payment of leans in lixed installments in net le--i than fi c or mere than forty years Under the direuifn and con. tiel of the Fi.d-.-ial Farm Lean Beard, a bank may lue firm lean bends net te exvd fifteen times the amount of its paid in capital. Before bends are issued, the qnginal application and ap praiser's report en vhu.h sudi leans arc basd must be submitted te and approved by the Federal Farm Lean Beard. The original act was recently amended per mitting, until Julv 1, 19:, the i-.iunc:ef bend 1 earing intei-t at the rate el 5 ' , . The banks operate under bed cril charter and Government supervision, and aie suhea te examination twice early by Gov ernment examiners who arc sub lect te the same requirements, responsibilities and penalties as are applicable te national bank examiners. Halsey, Stuart & Ce., inc." William R. Compten Ce. Land Title Bldg., Philadelphia Chicago New Yerk Bosten 14 Wall Street, New Yerk Chicago St. Leuis Cincinnati K-1 ft , mm ,?Wil vSSl, 1 f I II i k '4 ! K m m if TM T
Significant historical Pennsylvania newspapers