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20
EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, SEPTEMBER 29, 1921
mmmmwmnimw9twmwnimrn-rmrmamammmmimmmwmm
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PENNSYLVANIA
RAILROAD
6
Equipment Trust
Geld Certificates
Due Serially
1928 te 1935
"Phila. Plan"
Prices te Net
5.80
Biddle & Henry
104 SOUTH FIFTH ST.
aprucc 8200
BOUGHT SOLD QUOTED
United States
Government
Securities
srccniTtEs DErAitTMEjrr
Commercial Trust
Company
Member 1'ederal IUerre Frntrm
Today is the Invester's
Opportunity
The income derived from geed
bends bought new will seem
very attractive in the course of
a few years. This income con
tinues until the bends mature.
LIST INCLINED TO
TAKE THE UP TACK
Most of Operations Were Ap
parently Aimed Against
the Short Interest
New Yerk. Sept, 20 Today's stnek
mnt Uit had n much better ten nnd the
whele list sbnwc nn inclination t"
work higher. This n brenglit about
without nuy material expansion in tne
volume of deulinc, vvhlrh continued
limited nnd rctrietrd almost ctcIii
"ivdv te the profes-sleiml".
After havinR failed in the thrc pre
rcdmg feiens te either disledpe any
'"jnidernblf amount of lone Meck or
reripitate a KmeraJ felling movement,
the bear contingent evident? believed It
the better part of wisdom te cover up
the bulk of the e'ltstandinj short com
mitment. In fellow lug up this pellej
the trend of the entire mnrket with
only a few exception wn.s turned up
wird, and in the me-e active spec
ilntive specialities retrieving prac
t'"iiiy all the ground l"t ear'ur in the
week.
Tic-re wer" no positive chances noted
'.i ci-hrr underlying; or fundamental
irdif.ei. As a matter of fact, there
a- lltt'e influential new. of any sort
irnr 'rei'i the additional favorable
.I'.reail ariur.Ks and the continued
.iMn,: "f 'h iiiti'v market On the
'her hand home of the beurih yartH
mplejetl .'csterdnj an 1 Tuesday te de-
iress 'he lit were exploded ever nieht
ln d. rtn.'e Inf'irtant.eu showing these
a. s were Inrgelv of mental matiufac-
ire
Hulk of th" operation" were of the
ime "made order" type, but it was
,','ie patent as the day progressed the
n- of least p'tlstanee wn aga'n being
e'ln't red In the upv ard 'fids-. In-j
te-f.r a rereofere tei,erge in about'
the same familiar group of Reusrte'l 1
- .os, with Ha.dwin Locomotive, Mex
.can IV ti eleum and General Asphalt
i-maluinj 'he spectacular trio. There
vere ipatn'ffile outbreaks of strength
.1 th" rail", co; per, industrials nnd
'(I'tTed specialties, hut the flank of
i real movement rested en the above
.i.lied triple en nbinatlutl
During the murniu.' it looked as If
another outburst wus coming along in
'he bend division. tKpecially among the
'ievernments, but the edge was nil the
movement before midday, yet before
tne !-. .ilt came tic Yie-irv ls equaled
the high redid .if the w e..k Whatever
worry there eiiMed i "ncernitiK tl.t: for fer
'.gn situation, ( specially th" complex
(jermnti econenuc conditions, oii-ap-peured
ever night Very few understood
vvhHt, it all ui'-ans and very sen-ibly dis
missed it 'ram the,r ruinds.
The prepped riJ'M'l con-eltdatlon
evidep.'l was net tik:i very -eriejslv.
It was quite cncruilj recetjn u.ed that
, much would have, te be done before the
P"e sitien could apprea u anvthing
1 NEW YORK STOCK EXCHANGE TRANSACTIONS
near h rantrihle hams. I H'rn u. it hit
Preferred Stocks of Companies of Teny in the matter when it was ap
furnishing electric light and Pnund that the GeuTameti- ma
& t, i h.nery was striving te produce (,p i...
power yield Still larger income, Kaiw: something that the Sbcru.u:. anti
and have no fixed maturity, or tri-st i-iw spe. iticaiiv declare ll.egal
are callable at compensating . ,1''? b' "A , par,,,,,-
premiums. , lcrlung individual meveenti, or tu.it
r , bi sreuDi or divn-lens. At thf outlet
We invite inquiry en thi3 or any ' ra;iS and oils were In demunu and the
ether investment subject.
HARPER &TURNER
Investment Bankers
Stock change Bi !d n
Philadelphia
Ecran'
litii.at
r
1U.NKKU
Dealers in
Investment Securities
Urmtnri .Vn Yerk and DvWadflyJMa
321 Chestnut St., Philadelphia
Eeneral list snowed nrmness. (.ihs up
pi.iut'd raila as ln.irki t lendets before
ui'ti Transportatiens continued te be
jeijgnt. heweer, en further favernhie
August stnteiuents Tne bread ne
whah ranged from 1 m 3 points
.n Mexican, I'an-Ani rican arK t uli.
f rn:a I'tr"!eua.s, Houtin ' m'. 'lnd I
s:.nn...i fit' ..? v.... r... .. .. .i
te Uf dire, ted muilii .' tue sler;j,
I'.R.d':n Studeb'iktr '-'. .b." Hiid
Jer.ernia M s. ear--I(e. bi' L and
.rn I'red'.it, r"e 1 te 2 points,
w .. , Hums I r- ;! er- extended i" rlse
te 7 peuats.
PEyysr SOLD BY
TIMID HOLDERS
Trading; in American Stores
i Mere Tice-Suled, With Ir
' regular Prices
S!fs
tflB
loe
1CA
100
lne
tie
400
100
700
I no
100
100
ine
400
100
line
.100
700
700
.tee
1400
?00
,tee
.50
1700
200
1100
700
3700
100
080
IPO
100
10W)
11S90
2.100
3400
100
InOO
600
JSOO
300
soe
700
lien
100
000
200
100
30.1
2200
400
BOO
100
Sen
1100
4200
tee
400
1100
900
600
1900
100
200
700
100
AOft
1900
100
1700 I
1.100
100
1100
1100
1700
1000
.100
100
400
300
, soeo
moo
3700
1200
.1300
200
100
100
17U0
'300
lee
400
C, 200
1000
loe
1900
6600
3000
100
200
3)0
2700
2700
300
S1900
100
1000
200
400
en
no
1200
200
200
200
Dlv
in I
Hlrli
Adamn Kxnrenn 47 H
4 Air Reduction S8?l
. . Ajat Rubber 2
. Alaska Geld Mines... 14
7 All-Amerlcnn Cables .103
4 AlMe.l Chem & Dye... 4
4 Allls. Chalmers S3
.. Am Agr'c Chetn SilU
Am Can 27
12 Am Car & Fdy 12RV4
. Am Cotten Oil in
8 Am Express HOVj
. Am HMe fc Leather pf SI' I
3 Am Ice 60
6 Am Ice pf 64
. Am Jnternat Cerp ... 34'4
6 Am Locomotive .. .. SO'i
.. Am Ship A Cem 0!i
Am Smelt SS
3 Am Steel foundries.. IMJ
Am Sutfr Ref .... 01
7 Am Sunar Rf pf .... S7'i
7 Am Sumatre 42 !
3 An Tel & Cable SO
0 Am Tel T1 107'i
Am Watenvku 6c Vt. 12!-i
7 Am Woolen 75
.. Am Zinc Lead Smlt 10
.. Anaconda Copper .... 3BV
. . Ann Arber pf 23
4 Ase Pry Goods 81 f
6 Atch Tep Santa Te. tMIVi
3 Atch Tep & S V pf... fi0f
. . At Gulf SWISS . . 27 s
7 Baldwin Locomotive.. R7Vj
.. Baltimore t- Ohie ... 3H
B-thl-hein Stel D....S5'4
Dethlehem Steel S"0 pf S
Brklyn lUpid Transit 0
B'klyn R T ctfs of dep !(
10 Hums Bres 112
.. Butte Copper i Zinc. . 44
.. Butte A Sup'Ner Cep. 14H
2 i'ai Zinc & Lend .... 4(i
. California Petroleum . 3SH
7 ''allfernln Petrel pf... 73
10 fanadlan Pac.flc ...113'
. . Cadde Central O & R. 11
.. Cr.Ke J I 44
.. Central Leather V'-n
. . Cerre-de-Pasco 29's
8 Chandler Meters 42 H
.. Chesapa!e & Ohie... S6'
Chlcafte & Gt Weet. . . 7'
Clll Mil & St P 26
Chi Mil ft St P pf.... 40'
5 CM & N'erthweBUm . 70 t
4 Ch.cage Pneu Teel... A2'3
.. Chi R I & Pac at't
. Chile Copper 11 '
. Chlne Copper 21H
. . Coca-Cela 3 H
Ceium Ga & Elec.... OO'.j
. Celum Graphophene . 4H
7 Consolidated Gas .... '!'
.. Consolidated Textiles. 1C?
. . Continental Can 4S
Certlnental Candy.. . S
s Cem Products Ref ... 7-H
7 Cern Products Ref pf 107
SO Cesdcn St Ce 2l'j
4 CruclbU Steel C4
7 Cruc.hle Steel pf . . .. $'
Cuban Car.e Sugar. . 7t
.. Cuhan Cane Surar pf. 17Vj
D-I Iick & Western .107
Elk Hern Ceiil 10'
TiiJIcott-Jehnson .... 64ft
Endlci-tt-Johnsen pf . 9'2
Erie 13 '
Erie let pf 19
Famous Players L.... 6'
Flsk Rubber IH2
Gneril Asphilt 82
General Electric 124'
General Meters 10 Ji
Gen Meters deb CT, . 6S
G-n Meters deb 7ri.. 7.1
Gray Pavls 12 ii
Great Northern pf . . . . 73H
Greene Cannnea Cep. 21 H
Guantanamo Sugar .. 7'j
Gulf State Steel ... 40
Hndee Mfg Ce IS
Housten Oil 44
Hupp Motorcar HVi
Insptrat.en Cen Cep. . 33
Interb Cen Cerp 2
Interoero Cens pf . . . 6J
Internal Asncul . ... 7-
Int Agrlcul Cerp pf . . 3'i
Int Harvester new. . 77
Int Mer Marine pf . . . . 41' 2
In'ematlenal Nickel . 13 4
Internatlen.il Paper .. fl'
Invincible Oil Cerp... 9y
Iren Products 33
Island Ol 2i,
Jcve. Ttd tOi,
K.iras 1' ty Southern 20
Ki 'v.Ppr'niElUld Tire. 42';
Kenntoett Copper .... 20 '2
Ksten; T & R 1K
KrtK.. S S 150
Lackawanna Steel ... 42
Le Rubber Tire 26
10
6
47 ?,
374
33
14
103
44'i
37
35'
',
12!)'
It)
170'4
51 '
ee
64
334
9
6
37 V4
23
"Of
87
41'4
5
107
12 '4
74H
3sH
23
31
snia
ok
27V4
".'
3
4'4
9S
9
A
106
4'4
14S
iY
37
73H
113
11
4V2
2S
42
55 ',
U
30
40t;
69'
37 ,
33 M
10-4
24
35'4
39 v2
ftet;
ih
45
H
77 '-j
107
26
62 fi
12 U
7S
1UH
104 U,
Is
4 V4
0S4
13",
lsj
Lli
11
2
133
104
65
70
134
74
31H
74
3i
IR
53
11 u
31 V
SH
7 J
3(
7C'
472
13'
49
1'4
25
I
10
25 M
42
20t8
155
414
25H
1 SO Net
V M Che
47 V4
3S
23 -V4-103
43 J
33
33(4
27 4 4
12SV4 f
1 -1204--
51 '4 4-
60 J
64 34'
9V4 "-
6 -3S
X.
25 -
61 -f-87
421,
50
107 4
17'4 4.
78 J-
in
39144-
23 -31-f
s4
80 M -27H4-87
4
31H
55 4 4-
s
9 -6
110 4- .
44
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41 V
37J4
11 4.
44 4
2it4 -J9H4-42H--
554 J-
20 4
40Sx 60 4
52 4 4.
33 M 4.
11' 4
21. 4-
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60 -r
H
S9' 4.
16H
45 4.
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"H
107 -
26' 4.
01 J-82'-7H-174
r
103 -10I-4
-01
H
m j
131.4 -in
j-
55H -r
" A 4-
52H
124-r
lOH-i-
65 -73
4
12 4-74)4-31H4-
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40 4.
IS -53H-I
11 14 -31N
-
lJi
0 -
7?4
39 4 r
77 4.
47 4
1378 49
9(4
25
24
in
25 ;4 4.
42 4
29 4 -
10H-
156 -r
42 -r
'I
a
H
4
H
H
H
rxv.
m In t inh
390 3. SO Lehleh Vallev 54
12 Llirgett A Myers 157
. . Lima Locemottvo .... 78
Leewe Ce 13J4
1 left Candy 9J4
. . Market St Rwy pr pf 3.1
R May Dcpt Stere3 .... 82
13 Mexican Petroleum ..1024
114
1H
V
X
2
H
l
1
4
V ,
4
14
1'4
4
H
4
14
H
I 2
'
4
4
14
If
H
4
V
4
2'
'
-1
H
14
4
4
H
4
y
i
1
tee
400
100
310
200
400
21100
300
2000 1
2000
400
300
200
400
100
900
300
200
200
800
1200
1700
1000
900
100
isoe
2100
2000
200
100
tee
100
700
109
100
15700
5000
100
1165
100
400
1000
300
100
100
100
300
100
100
700
200
200
200
400
100
300
1800
300
100
200
100
300 I
100
300
ion
200
noe
390
300
104
1300
700
200
100
200
200
- 200
3200
200
409
10O
3300
100
4100
100
Z 300
400
200
100
700
300
200
500
300
200
1100
100
300
67U0
400
600
200
200
1200
100
300
200
200
300
600
300
200
200
11C0
500
2 Miami Copper 21 !
60 Middle States Cerp... 114
.. Midval. Steel 33 H
. Minn A St Leuis 10
7 M nn St P & S St Me. 71
. . Missouri Pacific 20
.. Missouri Paelflc pf.. 41
3 Mentana Power 49
.. Montgomery Ward ... 1RH
. Mulllns Bedy 18
. . National Acme 144
6 Nat Enam AS. ... 18
.. Nat R R of Mex 2d pf H
Nev Cen Copper 12
6 New Yerk Central.... 73K
.. New Yerk N II 4 H.. 1H
2 N Y Ont A West Rd. . 23
7 .Norfolk A Western...
6 North American ctfs..
3 North Am ctfa pf . . . .
7 Northern Pacific ....
6 Neva Scotia SAC...
.. Okla Pred A Ref
. . Ontario Silver Mining
2 Orpheum Circuit
. Otis Steel
.. Pacific Devel Cerp...
Pnc.flc Gh A Elec.
0614
40H
35 H
78H
234
1J4
4
194
4
114
59 H
I.OW
84
157
77 4
134
H
32 H
-R14
loon
2114
114
24H
94
70H
10
304
49
17H
IR
144
37 H
4.
11 fi
73
114
22H
96'
40
354
77'?
234
14
4 4
104
Nt
Cha
ah
1
H
4
4
14
1H
4
1
. . Pacific Oil 37 4
0 Pan-Amer Petrel .... 47H
fl Pan-Amer B 43
2 Pennsylvania R R.... 37i
. Penn Senbeard Steel.. 10
.. Peeples Oas Chicago. 81'
. . Pere Marcjuette 20
. . Pere Marquette pf . . . . 42
3 Philadelphia Ce 294
.. Phillips Pet 23H
. . P'erce-An-ew Moter. . 12
n ruts coal 61
0 Pitts Ceal pf 86
.. Pitts & West Va. 26 4
.. Tend Creek Ceal 14H
.. Pressed Steel Car.... 68
A Pullman 02
.. PuntA Alegre Sugar.. 27",
2 Pure Oil sRU
8 Railway Steel SprlnBT. 84
.. Ray Cen Copper 13'8
4 Readlne 72
. . Remington Typewriter 23
Reni Typewriter 1st pf 32
.. Republic Iren A Steel. 52
. . Republic Meters in 1
.20 Royal Dutch Amer .. 45
.. St LeuIh 8an Fran... 74
.. St Leuis A S W R R.. 244
.. Saxen Moter V2?n
.. Sears-Roebuck 674
.. Seneca Cep Cerp 19
Shattuck Arizona Cerp 1 '
.. Sinclair Oil 10ft
Sless-Sheflleld 37
0 Southern Pacific . ... 70 4
Se Perte Rice Sugar . 30
.. Southern Rail 21
Standard Oil of cal .. 72''.
Standard OH of N J. .1394
Standard Oil of N J ptl074
Steel Tube pf
Studebaker
Superior Oil Cerp
Tenn Cep A Chem. . .
Temter Cern & F "A'
Texas Ce
Txas A Tactnc . . .
Texan & Pac C A O..
Third Avenue
Tobacco Products . . ,
Transcen Oil
Union Bus; A Paper
Union Oil
Union Pacific
United Drujf
United Fruit
United Retail Stores.
..US Feed Products...
4 1 S Ind Alcohol
..Us Rubber
8 U S Rubber 1st pf. . . .
.. US Smelt A Ref
5 U S Steel
7 U S Steel pf
2 Utah Copper
. Utah Sic
6 Va Iren Ceal A Coke.
. . Vivadou Inc
. . Wabash pf A
J B0 Wells F.irfje Express.
. Western Pacific .
7 W, stern Union Tel...
4 Wentlngheuse E A M.
. . White Oil Cerp
.. Willys-Overland . ...
. . Wlll6. Overland pf ..
5 Wilsen A Ce
H Woolworth F W. . ..
4 Worthlngten Pump.
10
8
6
0
07
73 4
4
R
714
36
2.1
204
15 4
64 4
8
B 4
164
122 4
55 H
108 4
514
124
48H
49 f
87 4
32 4
704
100H
50
73
8
20.4
60 J
23 'A
V4',4
46
. 8
. 6
. 374
. 35
.U4
. 40
114
39H
36 4
464
43
37
10H
30 M
194
42
294
23H
12
CO 4
86
20 4
14H
58
02
27 4
25
84
124
71 4
23
82
31?;
104
45
24
24 Ji
r 2,
67 H
184
19H
37 78 4
30
204
72 4
139
107 4
67
72Ji
4 4
7 4
74
33 4
23
10i
154
64 4
S
65
164
122
35 4
108 4
514
12'
48 fa
40
87 4
32 K
7834
1034
404
4
73
7f
204
60;
23 4
"2 4
454
R
(I
27 4
33
112 4
40 4
1 30
M.
84
157 -
78 4-
134 4-
04
324 4-
82 r
1014
214
11M
25 H
10 4- i
71 4- '
20 H
0-r 14
40 1
18 f
18 - 1
14', r
38 4- V4
4K- H
12 4- I.
734 4
15 2214-
964 r
4nH-
33 4 -r
78 -r
234
14-r
44
104
94 4
114 894
374
40J
43 4.
37i
10 -80
H -194
4
42
20 4 4-
23H
12
61
86
26 4 4
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38
92 4.
4
"y$
v
Hi
4
2
4
4
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274 4-
4
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84 4.
13 4
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23
52
52
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43
24
244
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67J4 J
10 4.
7 4.
70 4 4
.19 20 4
72 4
1304
107 4 4
07 -
73 H
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74
74-
38M
23
20
154
644
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084 if
1044. 4
122 4
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108 4 4,
514
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8 T
n
MINES PROMINENT
CURB TRADING
National Tin and Bosten and
Mentana Streng Oils Shew
Better Tene
New Yerlt, Sept. 20, Mining (stocks
were prominent In the trading en the
New Yerk Curb today, strength being
(hewn In National Tin nnd Becten and
Mentana. Glen Aldcn Ceal, which re
acted te .Wj, was ngain In demand
and advanced te 40Vi. The merger
with Burns Brether influenced Tnr Tnr
rell Ceal stock and it rose te 18, .1
new high for the year.
Durant Meters sold nt 24 nnd
Goodyear Tire preferred nt 27. New
Jersey Zinc sold at 120. Denver com
mon dropped te the low record of 20c n
share nnd tlm preferred sold nt 00.
Oil stocks, penernlly, showed a better
tone, especially the low-priced do
mestic producers. Midwest Oil pre
ferred wnH 314 nnd Merfltt ranged
from 0!! te 7 . Kyan Consolidated
ivei 0 nnd Skeily moved tip te -i".,.
Arkansas Natural Gni was firm nt 01.
Standard Oil of Indiana was mere
active nnd advanced te Tlty.
IMDl'HTItlALR
Arm Ceal . . . .
.'al Crushed Krult
Columbia Emerald
D R a
I) H O rref . . .
Durant Meters . .
Parrell Ceal
'Urn Alden Cenl
C!oed)e'r T re pref
I.Ve Torpde .
Mercer Meters
N J Zinc
Perfection Tire
Kftdle Cem
FKUniv pref . .
Teb Pred i:.tr
lnltsi l'lci l'rel .
Weil Hnd Chem . .
Gulf flul
JlUh
.100
. 41
. 04
. 3'.
. 53
. 244
. 18
. 40l
. 27
. CO
. 2'4
.120
. 6',
. 2H
: H
.. ll4
is
. 204
Lew
II 0
4
02
21)
r.e
24,4
US
304
27
06
120
65
n
14
6
IS
IS
20
1.10
r m
100
4
04
20
r.3
IS
40S
27
00
2 'A
120
03
24
14
IS
IS
14
20
PTANDAni) OILS
Ohie Oil 23.14
Stand Oil of Ind 71S
2354
71
1
Hi
4
1
H
J
H
4
4
4
4
Ji
4
i
4
5 4
"h
4
4
'4
4
INDIU'UNDENT OIUS
- ' 4
35
114X -
40f-
2 4
A1ln Oil 50
Allied Oil r-w 23
Arkansa Nat Gm OS
Uoen Oil 20
Hosten Wyoming 70
Carlb Pnd 44
Cltleii Service (old) 11
Elk Hasln 1'et 6
Knv'neers Petrel S7
Federal OH IS
Olenreck Oil 100
Hudsen Oil 12
Imperal Ol . .... 74
Int lVtrel . . IIS
Livingston ... 1S
Lynns Pet . . 08
Marland Del oil IS
Mararalhe Oil . . 20
Merrltt OH 74
Mexico Oli 77
Midwest Oil rrf 3S
Neble 15
Nnrthwest Oil 1."
I'or-iek Ol! 3
Ryan Cens 3
Salt Crefk Tred 10V
simnu Tet OS
t-kelly O I 4S
Texon 0
Western Htat's 3S
VMIrex Oil IS
Y Oil . 61
Seuth'rn r i. II 24
MINING
Alaska Hr Columbia
His Ledp . . .
Ilosten ic Mentana .
I'annrta Cep
("andflarla Mining . .
Carsen Illver .
''reason Geld
DIvMn Vt
Eureka Crei-sus
(loldtleld l'ki-i-nce . . .
Hermlll Divide
Houw SeutJ
Jtrme Verde
MacNamara
National Tin
Ncadi Ophlr
Nlplss'ni; . . .
I'ltts L Mt Shasta ..
Ke Am I' L O
Tlntlc
To-ierah ilelment . . .
Tonopah Divide . . .
Tueliimn
Vn tt'J Hm'Tn
t'nltfd Wrd .
Wn l.rv! ''en
uknn Geld
43
2.'i
S
25
113
4
IIS
34
3?s
05
11
91
1M
20
04
111
SS
15
15
34
5
104
r.
4S
68
35
IS
33
:4
2854
71S
50
23
9S
25
70
44
118
54
36
14
100
11
74
114
1 4
0
IS
20
.74
'as
15
13
3 '4
ft
10S
64
4S
OS
33
IS
60
24
wwitfiiirtwiwnwMwtTtwiiwwiiwriMwtwTtiwiiw'T'"'''WTTTTTT.s " mnwmi
Paris-Orleans Railroad
6 Bends
Principal and Interest Secured
te the Company
by the Guaranty of the
French Government
1HESE bends constitute a direct obligation of
one of the most important railroads in Europe;
a read which has met all its obligations for ever
eighty-five years.
A conservative investment with speculative
possibilities as the dollar value of both principal
and income will increase with any improvement
in the rate of exchange en Paris.
Write for descriptive circular
Hemphill, Noyes C& Ce.
Franklin Bank Building, Philadelphia
New Yerk Bosten Albany Wllkes-Barre
Baltimore Scranton Syracuse
31
2!)
100
2rt
24
?A
24
3S
41
111
24
22
15
B5
39
54
3D
44
14
e.n
3
.'S
2'
"
31
27
5
25
"2
1A
24
37
44
16
24
22
15
50
30
34
3(1
44
IS
0',
37
.'S
254
,T
39
27
100
1A
24
3S
43
lrt
n24
15
61
30
34
h
T4
f..-,
07
24
20
S7
SI
Commodity Markets
Pennsylvania R. R.
Equipment 6s
Philada. Plan
Jan. 15, 1928 te Jan. 15, 193S
Price te Yield 5.80e
Townsend Whelen & Ce.
505 Chestnut St.
Xtmb-ra of .V 1' d Phila Sterk Exch'a
Manufacturing Executive
WffJ- ir E-r
fTS sr
tart of .ate H
rivolheGN f mar z
plersd as I red i-
ine te tun, arna
-icj
'jajf
buslnrsw.
change
' Trsp r lnc
I r -ia rc -
010 I.EDfiKK
-ta
A' lirf-tt
rire t t"
invntrnit
s ne' of-
ir 'v ei en
In
a 'e r'
d
nmcK
-j '
w .
OJn
n fe-
,'t(HJ.(l'M' tiUP '1
, t);e
Kqattnble Illnmlnutini? Cras I.t
Aeaerlrnn da f uridadt
euthrn Indlena Ftr Ut
Titelfle rrult Eipr J-:jnlp
Weathfrn I'srin, R n Kxjulp
Fenns It'illresd I qi'ipmfnt
3" 1KH
7 n ltrt
4' 10M
7' 1030-13
1' 10tt.11
' lOJU-TI
SAMUEL K. PHILLIPS & CO.
Member I'hlUiIrlphiH Mm k l-urhansa
5f: (IIK.TM T sTHKKT
C. S. PATTON & CO.
ill ( IIF.HTM T STH.
BANKERS
iif rnnfh t
fAH-KU A -TKKSSfV
Itendu und "rnrUH t-diiicht ..nd itti
M-rTi-4r f'hlU Mk Mrlnmrc
Ohie Power Ce. 7s
1951
HARVEY FISK & SONS, Inc.
Land Title Bide . Phile
Ht Yerk thlmice lluffilu
Itetinn
Rare Opportunity
A ri
dfslrt r
wtt.1 fir.
rfrr
( 01
K I I'D'iKK
ti ',e
r-l ut.l
d r'rj-'1
'Hiif i:
Innsylriinia Railroad and Amri'an
Srrs rfmnir.t'd trr two stellar n'trnf
M"n nf n,p local markft. ThT" was
nt.nfd 1 q jidatien of Pennsj lvnn'u
Railroad 'n th" ;iart jf some ,,f rlic
niore tim; i neldfri nho-e mental Hrfii
i)' was dutiirlv'i bj -vlin' Is new pen
ra'!v oiKeded en the t-e-f n- rar ill
advlsd and lU-rirned rp:.inrl:; of Gen
eral Atterburr. Ne eni. of course,
qurstlnns thp wnffnry of tiiii bnlhaut
railreid inana?fT or what he pirr urd as
anvthin:? hur a ipnl i.nnrlirlun hut ur.m
'i :nlt that the time and condition".' cull ! n "l""1111111 frr'm
'.' t.-. wisdom of a btr.l 'enirii-. While
In kt .rk did nor ra"j vpsrprday's low
rr.a-K .t pvrUi,l',' ht ".'arlv a
peii" vild:r.i tii '17
Th''.' v.is apirrlv n nier t,i.
nd"d riirK'-f for tl AmTiran Stores
.Mi". I; a'l eenf, tf.p "upi'lj and
d"innn. vat i.. it i.a'Ij ! .i',an H and
thp rl'i' "laneni, in i,enrf-q,i'n,e ncre
Hept ''eutin.d within mere nerri.nl llmi llmi
tatienx Y" i "-inn-it n'-vays UjT'- .juy
indWid'in! 'ip oi.f.n-iei.sl; eij the pap
'if niv-t-rr I!vid-nt!j quite a jrued
loenj H''. . '.g1 the nwk many points
I'Wer ra'l,ed rbe (enMb!' )nr)unien
it a '. ne n, reap in -Tim" of the
pap'-r j r .fivj The ttr-k medi- nn ear'y
rebound '' T",31 or ever ii pulnts ab'ne
lapr "IghiN rnal q .oti,tien. but tbe
rali7i-.s n'f . nrried t mr n fiemr
'Die preferre ' .it p!a'r-' -'nnll Inal-li-i.
nvTrd kftRwn lul' and 1'MS
UnU llinl'ed nrtlritj ns Htnn , rr,e
"...aindr of rbe l'al 1 t Amnnx tlm
n'"" prominent share, rjlitrir- Stiirne
Hamr' vn up a point en fmal! rrni.--
for.- I' f, I i nnnged bans in
dd let at ''..".' v'ith prevs'irc off,
I" .lad'-lphia Rapid Tran-ir ral'u I te
I'I I'nlen Trn tien en limited dealings
advined a point tn .11
Amenz 'b" l"""" a"ive nhires Rril
irrfrid"rt'd u petnr f re n thf pre In is
.ail- .-iOiiin te ,'!i) Vi.t Jire Si-M.
'nor" ndran'ed te 2 but later vi-lded
i point nt 'he (jam in it decline te .'11
I iik" -Superior Corporation was offered
moderately at 0
very stead.v. In the cost and frelpht
market but little Rie coffee has been
J fold during the lnet fevv- month-, und
-.., ,.Drr thl'' nas had a bullish effect en spot
GRAIN MARKET future- here. The local Rie stork is
Chlrafif), Sept. -.' Wheat exhibited net large and is being Kradunlly nb-
better fyne There wus a much i MjrbH. n.-ccmbf-r is slowly meetiiiR the
. ,.!.. V,m mnet """" ''".. """ : """ """" " "
rcdited te short nc-
Philadelphia Stocks
a
broader d, miind In
of t!ie buying wn i
count an'' m'.'I net b" classed BR of
geed chnrac-er 'I"h market opened
stead; . b'.' v-rekr ubeut lc, rallying
,tfter the pr-' tlnrtv minutes, nnd,
thereafter, tket lnied areuml previous
closing level- SeptnUr wheat eihib
lfd a heavy tone most of the section.
Tntrij was Mttie In the news te af
fect 'he nirke' Canadian weather
wns wt, which Is injuring the quality
of the. new r.rep. Seft v. inter wheat i
euttiern nna r.abtern
mllN. and preiniMii- in 'Me local mar
ket were lc higher. Kun.us Interior
mnrkets are divide, m their reports en
ceuntrv offer. ngs "f whut. one caying
the farmers are offering nothing,
ether saving 'ne consignment
iirci-lni! SiabenM repnrteri
N. Am Strs. 7S4
I'm de nref 102
Iaw
77
10114 m:
pem's of .Iay options.
Pr' Cleso
V'-f.t.'r ... 7 H28S4
March . 7 ml ,tl7
, . s ni ft na
ju , .... - i"iy"7
1 13 Net
1' M chBe
77.H. U.1 1'.
! -i 'I
S IMI'C'f 1
s ej gnj
s 00 'J Os
S nav 10
in Rriii j e ae m -a j
'i niec.siter.l07.3 kmiv; 107 H, 4.1
Me (if n Asph 52 U 5'JVi .-,2',-e. ''
J I (V. N A 2S 2S. '.'s'S-r U
n fl
are in
sales nf
)f Mntiltnbii wheat te
Swiss (inverriment.
S'liflmeut favurn a rany 10 nifnr,
pries, but efferlnttv from a lending e'e
vatir in'ere't nnd ''quidatien by a local
Ien,- kept buyers .ijppliwl. Shipping
sales were .Vrf'O bushels.
Turn was under pressure from h'uR
ers .'ir'.v, whl't locals were Incline'' "
buv mi the rally in .vheat. 1'rlces m.vli
new low reierds enrl.v, but the pres.
s-ire ..f cash raln n the market was
t.e nenvy te permit cmplete recover)
The cash "ern bn-.i was ',ii' '"
lower Importers took 11 few 'mal. lt'
of crn nn the break Shipping .i -
wei" 1 1 h 1 ici nusnei
(Ints fnllrwed t:.e 'rend of
grains Western heuhes bought
Ing waa mainlv for long account
.....ii. ehlr.nl 1,1 d( n,, ind wan
Pbiprlng aUs were iimhhi bushels
ntlii r
slew.
I.
XXl
CI
lit
dill
PENNA. TAX FREE
SECURITIES
PAUL & CO.
Mfmhfrt rhlla. Stock Fxrhanr
1421 CHESTNUT STREET
COTTON MARKET
New Yerk, Sep' 2!' -A decline of
7 te -4 jxjiiifs in opening cotton prices
tednv ri- attributed chiefly te further
hedge pressure nnd realizing, which
effeet the effects of firmer cables from
1 i,.iriumi I'er 11 Minn after the start,
the list was irregular, but Heme heavy 1 '
W.i 11 street buniu'. 1 ased en Mrength
In f-ecurities, grnduiilly abberbed the
hedging nnd mines recovered met of
their earlier 'ns(".
Rrreipts at the pnrth for the dm are
estimate. 1 nt "e Oi 11 ) bales, against
I1 fill bale- 11 wiek age, 21,817 bales a
U. S. Certificates and Treasury Notes vear age and 17 "1 bales two jtnrh
BANK CLEARINGS
LIVESTOCK QUOTATIONS
lilcwe. Sept 20 CATTI.U Receipts
Jl ') had Heavy ftn 1 I ' irrncle bf
eer slw etheri an-l ealinprs ?t. arly te
(t-ers. Tip, 'ear Int". HI bulk, heef
M"'-. fir(t .'O. shs steel slew te lower;,
h'j 's slew afTr caHcs lull ,ei, stock-i
ers an fedrs slealy 1
HCiQi Hceipts. 20OOO haJ. 10r tr, "Sc
Imer than vulerday's Rverate practical,
tp S 23 Tep. s3S ej' nf In. hulu '
i-'s unit .Ight hutrhr. J7 00SS2O, hullr I
Phrr nj; aen. 11356.75 piKS, I'er bj'lt
(1. s ral,e 17177 4e
SHi:Kl' Help'K Ife f.OO hi-a.J All
i.i.s gnra ; atsa! Ter. ra'ii. amhi
J" 7. bulk r. 11. 1 s j'H lt'n'wf t p
" rirns Is 5 1 b'i , fa rn H23tfJ,
t ler Umt t m nth J' 7,' "1 7 '.' ,
I Itttshurich. frt :& -HOOP Re-. pts.
4' 0 ),, 1 I.e-c.r ll-ail'!, JS2.'S40
I. -a erkr set im Itht "erkers,
J" .'.' ' rm ! 23
-.l!Ei:r AMi I..V'ns Ifeelptu 1300
-n'i Iflchr Tep .h--ii ?5 2". u.p iambs.
1J 2'. wiy
'AI.VKs K "IP" "' h'lt S"narly.
T'P J14
Kaat nnfTnle. N. 1., npl 29 ''ATTI.K
- re.ipin s;5 hea'l ht.li- rai re
' p' ." h .i'i Fifty cer.'s ler ISS
U '.
II' s !(" tls '.'Jhrj he,d riKay '
10 , -vr ll'4v JS.vriST", mil"! ani
er JS758D . nht v jrk. n. l! Jnl 8 73.
ti 10 reiurhs Jfl 5" stan. JSMiJ
4 '
UK PIP ANI LAirH Reraipts 100
u , 1 J.anhs (.low 301 iewr l.ambs 14
y ' J" l-'i un'-hanKii
r.a-t t iiis srt :n -caiti.e ti-
--j Tfi.0 hea.l Ne K"' I nalhe siern
1 ". I .M ivls strong" ethers slew, lUi'ern
. ..... 3 pi.jrT ranners iinrl p'eker
t '4 Ii'. Kna Mil's nk Hull, t'i "ilH
I inl ca.c RfK- lower fp rahs IP 75
t S""l te rbeli-e ' Cht. flll'SlU '.O
HCi''-i Ilripts, 730H A'Ml, dtrerir t..
'.fs- hlcner Tep J8 45, b'i'.K SlD'JS4b
Irr-iiifiir.ir -7s pound heavier u s 23 250
prund arai;ea IS in nor- hnal-r hire
psi-ker s etcady te 25e higher infta.'.n
plirs 23ft-'. Mhr f7.Vi'B15. TJallty
Wici
SITEr.P necelpts IOO hud Vernlnally
ilrndv r th lit tin reed 'i lal'tv rl rlty
buteher" paid IS for en derk m Itimi te
lambs i.kfrj it r.e tr meiiums.
jule Ifl'if7 for rerrn..m anl medium,
lf i 50 mej rta I"
ii hi r -.1. t ., K'
i"" i. ii nf riip ti'ti
-'fill I.ell Vel.. ."l41..
KriilH R R.. ,'17Ts
.".5 I'hila Ce
rum pf.. U2i
IM'hilaElec 22M,
1.'17 dep ref.. 2(3 -V.
12.'. I'hila RT 10
1' I'bllaTrac 03
'IfKi Tone Hel 1
5"T- Trae 31
11' G I... 3SU
25 War I &S 84
US West Jer
A S... 32
ii..j,
54
37
32s,
22, i
26
ltJ
53,
1
31
33 U
8Vi
I1''S 1,
54'a-f
n,"Ts-r
32 4.
22'. -2(1'';..
It)
5.T.-t.
l'..
31 4.
M
Mi . .
A'il"d Pae'ir
Amer T: if. 11'--
Ar.aiendv 7a. 102'
Anirle.Ainar Oil 7'n
I urn.sdall b? .
Ili-aver Heard ss
Bth Steel 7 11'3.
Chi Kast III 5s .
i.V.na Gan Sa
C'cns llalte 7s
reprer IJxpert s
Cie ..lrlch Tire 7s .
rand Trunk O'ij
Clulf Oil (s
Heinz Ce 7s . . .
llumblf Oil 7s . . .
Interbore 7s . . .
!ntrbore si
Konneeett 7s
i.ibliv MRN'elll 7s .
I N Y N II J. IH .
Maud OH N Y 7s.
'ft 7s lf25
-illlt 7e 1UH
T..1 lM'Cjn 7i
Ti.1 Tr i l.utht 7s
'. a. uum 7a
v ryi K.pctrlc 7s
i Iiu'iian 54 s
I10MIS
tf
United States of Brazil
5 Sterling Bends
TWO Brazil Government Bends Payable in
Sterling for the Cost of ONE Payable in Dollars.
Annual Yield
7.60 te 10.02
Maturity Profit
Over 100
The advisability of purchasing bends payable in pounds
sterling is shown by the following table.
The purchaser benefits by any increase in Sterling Ex
change and the bends return an annual income of
7.607c at the present rate of Exchange.
Assuming a Price of $970 per 400
With Lxchange nt
$4.00
4.30
4.86
Annual Inceme
$80.00 or 8.25
86.00 or 8.86
97.20 or 10.02
Maturity Vadue Profit
$1600.00 $630.00
1 720.00 750.00
1944.00 974.00
Circular and Price en Request
pattttf, Mbbr 8c (Eempamj
Established 1880
1422 S. Penn Sq., Philadelphia
Members of Bosten, Chicago and New Yerk Stock Exchanges
l'.'Bl
4 US
I04
fi4.
101'.
. !7
. 72'i
PI)1!
. 02i
wm
. U71.
.101
Ii 7
'in
. OtlTl
.lOeS
07V,
73
. 71'
H3
Oil
.'.4
105Vj
.100'4
.loev.
07V
0Kn
1U3S
.. 101's
. 14
l0'a
! 4 S
101'
07
724
no
2't
100'i
'I7S,
HUS
'.15
lis
00i
loes
074
70
7S.
or.
Oil
54
lOO'i
07V,
OS1,
103",
101 s
14
40', '
00V, I
04",
101',
07
72'K
Oil'.
H2 V.
1'10'i
07 l.
101',
Oi'.'h
00
JO H
H0
07Vi
70
OH
34
103'4
tniii,
ion.,
07'J
08'
1U3S
101,
14
lets
31 31
riirui)Ki.rni. nnsris
1H1 Lib. rtv 3' .s '-17
3(MVi 1. it,, rtv 2d 41 ts '12. .
2(xi I.ihertv 2d 4l,h '12
4XiO I,ib..rtv 3d 4',s '2S.
t. .. , . i . ... . .....
- i l.lliertl .1(1 -i s 'N. .
ll.'u Liberty 4th 4V4s '.'iS.
I50H Victory 4s '23
2tl5(xi Virterv 4a4 '23
..id) , tnry .J, m 23
HiOO L'hlgli Valley Cs
3(K0 I.elngh Vulley genernl 4h
20() Lehigh Valley general 4s
7000 I'hila Elect rl- 1-t 5s...
300 rinlii IClectrlc 1st 5s...
100') i'hila Hltrtric Uf 5s...
1000O I'nited Railways, 5s....
Ss
Financial Briefs
i'ctr the
yar er.ded Dtr.-mh.r .11 3Vhee.In
V,,,. . ' "i r"?ws net corporate
'"r1". "" "' ivnd ordinary rharues. of
.V" '.Ji', tA.uvu,r' ' " 47 c'nt share en
the IIlst;n,e rrler 11n 0,k " r n
pari with net Ineerne of f.iefl 0311 or I J 58
a share In tl precudlnsr year
aJJU'J;! ''"'"1d minimum rate of
....V.....V .-.,,,,iH ync-ner.Ke'i ai e,
ri' ' i
spe- dlrn
1aj
Y
ABt
2!
jni r,en nor
l,3 'inn ei.n ;
4! 7" 171
,j mur
x 0 ear
102.1
l-e ",, nn j H
17 If. 101 nn t)4 I
".I ''17 71 7 I7i, I'i;
10"!
rr h1
I
Kate
t'n
I'i
Matur it
Dat
-
Conservative Investments
MacMeekin & Williamson
IlHO.lll IM) hVNSOJI STH.
-Sfenibrrs 1'lilla, block Kirhante
H. t a.u.h riM
fie- 12' I'.Ov I'KIA 3 til
I'Vh . 122 IH0 7 3J 100 1 1.3; i si
.-i ,ir n i-'. i'.ii' I'll'.
f'H M'h IbSj K'OA lenA
", Mi h 1032 lui A lne.i,
"V, tune 1021' inS IO.i,
"-l ,vis I'i 22 n"A tun s
SSi hejn 10.'.' 101A )(n,,
'S June 101 iniS telij
S1-, fin 1024 100A lOOli
rxnipt rrer nnrmul r.Wr income tax
TAf-eptaDie r r aiment or tn. me t,x
lue "tl dale uf maturity
a J!"
Treiteus
i lese Cin
. jl (14 2') Se
21 HI
20 7S
20 35
10 OH
10 45
1 (10
I M
BAR SILVER
I .rnr-st lir .tier wm uiihrnsri'l In
Ve J"eri "-i at OOVic p"- fin- eunre f ir
en ;l . unrha' red In Iind n the i r re
r ai up ', I at 4V.d
21 0'.
2n nn
je . s
10 si
10 11
20 0
i'i H5
10 70
il
5 21
, Lawrence . Brown & Ce.
.UiRTIFIiiD PUBLIC ACCOUNTANTS
'UfltlO RKAb KSTATK
V..A.V .UU lUJUJl
mar nr.iin
" "- r- --
cirporauen aw
French Bank Statement
Tails, 8er.it 20 -Th week statement of
the Dank of Franc shows lb n hand tn-
crasii ifl.i Dim irn r.iver in nuna insj
i.n linn nni.i in pf, .1 nn ini
208 483.'00O. Treasury deposits In-1
creased
cteaied
nc .'.p'
t 43 !' mt.er
t s ' Jflnusry
4 r.j i Mar' h
i;iiM
I H2 , Ju. .
4 'It
NEW YORK COFFEE MARKET
New Yerli. Spit 2Ji There was a
geed demand for Ix-ceinber contracts
at the htirt "f tlie lecnl coffee futures
market this morning nnd eeveral thou
sand baga changed from 7 U7c te 8c.
A liremlnent cotton exchanKc firm wan
a free biiTcr of this position with ether
'"scattered lntcrrntn lending stuipert. The
hi
y aeneHiia ni . - -. . -i . r.. & i i .-t
creaserj .077 000, tenunl dexislts.U-e. f U tiUirKPt epeiiert 10 n lieima nignrr.
hi 1 .! AflA Kill Ml-ri"t!nt.l lnnra I iKtllMil T ' n'flfuU IlPPAnilinF n ft 1 1
738,000. trn''.rtrea-d ?J,uOt .'. .nCed off 2 or .1 neliitu en rcallrlne. but
Initial Common by Lima Locomotive
Sin lerk. 8pt. 20. Lima tiiomellvs
dpr ared - n Initial dividend of i er crnt
in the remmun sti-V. tiayable In four 4uar-
ierl lnstailmants of K per rent Regular
I -ninrterly llvldend of 1. pr ent en th pre-
I frred sfn k use alsj declared, payable N"-
emt.cr 1 te stnrK or rreri urinner 10
i'"trrmen d dnds are JHatle rieiembrr I
1021 tn nt .'k nf record Nnvemher 15 1021
March 1 1022 te sleck of record Kebruarv
15 June 1 10. 2 i stedi of record Mav 15.
Sepn-n-i-er i 1023 tu stock el record
Aucus. 1"
Liverpool Cotten
I.Ititke Rept 30 There was a geed
demand for spot cotton with prices firm en
tbs basts nf an adt-anre uf Id points for
inlddllna- at 15 21d Males were 14,000 hales
and receipts 25,000 hales Including 10,800
halts American. Futures were steady In
th early rteallnKs, Spot prices were: Amer
ican, mlddllmr fair. IS lldr reed mtddllnr.
in.nifl; tuny minaimr. in.ua; minuiinjr.
oeunir. f.iini anuu uruinm
. Th'. ';"J Price of the twenty actle
ndustrlM j.ci, dvcJlne.1 0 1 r-r cent " s-..'.-n-.?."-,.""'!
,h' ?"'' tallreads
" 'y "' ' " i 'J i'"r '"ni 10 1 i.-.. Thi
lieman.l
,iblej
s ample pr.,.,f ,.f (he ultra-professional cal.
Iber or the current speculation
e.Tlh1 J"r f-'-1 vrnpiiny and eubsldlarlej
for the tu innntns i.nOnl June 30 report net
lore after 'harires d. pr. elation an) de
pletion "f ii ni; nc.!
Fir 'he ''e. rrenths ended Aurust 31
th Detroit Kdlrm (".jinpany she-va net n.
come aftrr chnrsen and taiei of .' 1m3.fi;;
Wet Pnn reer Company (or (he l
munthi ended June 30 rt'r! net earnlnKs
after charyu nnd tftls .f S12 12H
North UVate'-'H car Iradinrs for 'he flrn
tivcm.en dsy of hcptunhcr weie 130.4S3
esrs a decrease of 13 000 tarn.
Torte Tu at, American Tobacco Compan-,
report" f T eeien months i-ndH.I July SI
censiilldl'r J deficit after eipeneea Fe.li ral
tas's and rharjes, 175(1 O'll rotiselldated
Income sec nint ehew t n i Jn.e after ex
penees Fcdei-n taiei ct 1041 221 cih r
'renin- jsfll'11 net Ien 1550 277 Int. rest
4200 (ISO di.fl l IT30 9H pr virus irplui
11050 142 i. tai (lurplm 11 20.' 3711 acrip
dlldmd. II4H .100 profit and less surplus
July 31 tl 053 073
The Treasury la today withdrawing $2.
118.000 from banks In the Third Federal
rteserve District, belntr the balance nf the
Aunlst 1 certlfleata lsaue ItMti tha nc.i.nt.
the Treasury has net inailt-nr calls en the bacs
dspeslts arlsinr from the '"'mlitr IS IssuH ransl
of certificates of Indebte nd Treislrll -'
; FOREIGN EXCHANGE
New VerU, Sept. 2t) TIik foreign
exchange market opened trregulnr te-
I day. Sterling, Swish and Swedish ex-
i (.linnKef, viere unchanged from yestcr-
I May's finals, while marks showed a rally
from ,"i., jestcrday's tinai, te ,!sl Vi.
Francs and Helslanx bhewed gains of
ever a jieini. TNie weak featuren were
Italian. Dutch nnd Norwegian ex-
ch.'iliKi'-.
ltii Tlie quotations were :
!mi as ' D'niand Mterllni,' .5.71 li. cablet
!xi HI, .'! 71 'S ; franc cableti 7.10, checks 7.0!);
1)3 sj iu cables 1.05. elieckfi 4.04; Swiss cn-
'l'! 7J KU., 17 ')s , liiw.L-1. 17 '.'fl cnillHnr en.
... fHi.5(ll hies .",1 ,-, checks 31. W), peseta cables
... Dl). 3(1 1 13.01. checks 13.02; Stockholm cables
lets D!). 4(1, 22.25, dipt ks 22.20; Norway cables
Mt.59 12.45. diiM-kH 12.40: Cunenhatten ca-
bles 17 S5, cbeckn 17. M ; Uelgian ca-hli-h
7 03. cheek 7.02.
The eTchnnge market In Montreal to te
tln.v vus streni; nnd active, with fur
tin r inmenient in favor of the JJoniln JJeniln JJoniln
ien. The premium en New Yerk funds
was the levet reported In a long time.
U7m per cent. The ftrengtb In the
market, as heretofore, was attributed t"
favorable tinanclal trnnHactiuns. The
discount en Canadian funds in New
Yerk vi ub reduced te 0 per cent.
The Central Kurepenn exchanges
were heavy today. Humaninn wan
.Mi, Iliilgarian, .70; Austrian, .Otl'-j .
(Jreek exchnngt, -l.Sfi ; Polish mark-,
.011)0, Serbiau, 1.82; Czecho-Sle-vakian,
1.02U; Juge-Hlavla, .45; Tinn
marks, 1.50.
TRbTE.tDsT'S FI.VAI. QUOTATIONS
Slirllnif Francs t.lre Oullders
Demand . 3 72H 7.11H 4 10 32 1.'
'ablea 3 73 7 12 4 10V4 82 IS
TODATS Ol'ENI.Nfl QUOTATIONS
100 !
72";
72"Vi :
85 "a
f0
I
Refund of Pennsylvania State Tax
Collecting the Pennsylvania State Tax from corpora
tions which have agreed te refund it te their Pennsyl
vania bondholders is a troublesome process te many, and
the benefit of this agreement is often lest through lallure
te make claim within the time required by the corporation.
Wc tshall be glad te relieve you of as many of the
necessary details as possible.
If, when paying your personal property tax, you will
send us a list of all bends en which you nave paid said
tax, the amount of tax paid in each case and the numbers
of the bends, we will fill in and mail te you for signature
the blanks required in order that you may obtain the
refund. Yeu may return the blanks te us and we will
ferwnrd them te th- respective corporations'.
We shall also 1h jrlad te keep a record of the numbers
of your bends, which in future years will enable us te
prepare the blanks en advice from you of the amount
of refund claimed.
Harrison, Smith & Ce.
INVESTMENT SECURITIES
121 SOUTH BTH STREET
PHILADELPHIA
LOMBARD 6100.
r-r cent
Sterling: Franca
. 3 71 7 00
3.71 7 10
t.lre Guilder!
I rn fll sn
4 03 31 S5
DIVIDENDS DECLARED
National Oil Cetnpary iU'.rler; 2 per 'ent
en pteferred, payable csiteber 15 te stock of
record Cictebr 1 '
N'ei Jersey Zinc fempanj, euarterlv 2
r r i-nt pajaMe N'eTemfcer 10 te stock el
re erl uctebr 31 1
I Uhfr Jlelv r'e of tjhle quarterly 12 en1
October 11 te stock of,
I ref 1 rrcd. pa-vblc
rcc ir 1 ictet.cr 4
bt riiura total revenue leadings 8eptet,,
br 1 tn 24 vicri mn,10 cars agnlnat 12H
ii;s a enr age Total January 1 10 Settsm
ler 'j( I.HI0H4S ntalnst 1 32H.372
Raw Sugar Fairly Active
Neii lerk, Opt. 20 The r.iw iucr mar
ket continues l'j dlsplsy a fair amount of
aitniiy en the basis cf 2Sc cost and
freiaht for Cubas. eciual te 4 23c duly
pad and (4t f' r uncontrolled rutare Ad
I ilunal salei made by the Surar I'lnance
i'i mmlttee jesterday Included 52 000 hag-n
te e. local refiner and 34,000 baas te a
rlavnnnsh rnflner Bales of uncontrolled
suKar yesterday Included 11,000 hairs Phil
ippines, 2300 tens I'er le nices te the Fed
eral Hugar tteflnlnv Company. 4200 tens
I'hlllpplries la ArmickU llres. Importations
were comparatively small, Including B40O
bags San Dotnjnges and 183 ban Cubas
ranslgnM te Importers. ,T11- laea.1 reflrted
' i-IChanged en the basis of O.fi
Tax Exempt In Penna.
Free of 2 Federal Income Tax
West Penn Power Company
First M
ertgage 7 Bends, Series "D"
uue jviariui i, iyHJ
Calendar
Year
GROWTH OF BUSINESS
Grets
Earnings
916 $3,022,257
ll 3,9S8,704
1918 R.R70 7fi7
r Fw,w,,w,
1W
1920
1921
Vear ending June M, 1021,
6,203,109
8,314,220
9,320,331
Net
Earning
1,244,837
2,004,637
2,286,702
2,572,063
3,246,028
Particulars Upen Application
A. B. Leach & Ce., Inc.
Investment Securities
llSjSeuth Fourth Street, Philadelphia
k. LtnlMi-d MIT
?Jf . "
J