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n
21
EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, SEPTEMBER 29, 1921
KfWP- "-T" "wxrBnpprwnr(Ci-
!
Service and Stability
fl1
D i
Annual Statement
re the close of business September 21th, 1021
ASSETS
Cash
U. S. Liberty Mentis and lieasury Certificates.
Other Investment securities
MertRngcs
Commercial Paper nnd Trade Acceptances
Leans en Collateral
Ofllcc BullillnR, Vaults and Furniture
Miscellaneous Assets
TOTAL ASSETS
LIABILITIES
Surplus and Undivided Profits
Deposits
Dividend Payable October 1, 1921
Miscellaneous Liabilities
$012,881.71
748,078.85
. 2,610,443.40
728,783.fi4
. 2,377,141.01
. 0,730,008.12
12(5,071.20
18,040.07
..$11,28.1,551.08
. . $500,000.00
. 1,821,543.70
. 8,804.332.10
50,000.00
17,078.19
.$11,28.1,554.08
GOSSIP OF
THE STREET
It developed jesterdny that there wn
renildcrnblc fccllnc of resentment en
' 1'iii-t of the mi-iiilcrM of tlie 1'lilla
'flphlii Stock Kxehnnse uRnlnst wlmt
t"V (,'CI" nH ""ikicssmi lnterferi'iicj
with tlie biiMtnpfs of the ExchntiRO by
the tiuinngei'fj of the Uig Heard in Wall
btrret.
It Is under.tenil there linve been
several very heiited meclliigH ever the
dependent producers of the heavier prod
ucts will held for the advanced prices
or hew they will fare with the Hteel
Corporation Itself In view of Its pellry
of meeting competition.
"Incrcniied rntu of wire, sheet and tin
plate production is enceurnRliijj. but
these Unlit products mnkc a Hinnllcr In
rrrrirc In Inget output than mlxlit be
snthered for some optimistic reviews of
the week."
TIIK TltADEK.
HOMES OVERCROWDED
Heuslna Association Blames In-
subject and some of the mere itRi-rrsslvc j creased Congestion en Rent Qeugers
SM jjz : r; l - KeRmB , ,,,.,,,, llIlcm.
clnlm iik their Independence ami mull- j Pleyment are enti-liifr overcrowded
, bend. It Ik understood the tempest In Iieiisch and are fast mnkliiR Plilladclphln
, the tranet In thn mitcmiin of a cemimitil- i i. nu m t t, en.. ti
,.!.. .....";... .1 i .i... v..... '"".."" "l" .'".."". v.". "' "" ii. c-
I .. ij-vi-iiiij- ri-L-uivMi iiiim in- !.. cerdltiR te a bulletin issued by the Phil
l.i .J. "",lui I'i'iiiiK Hi",. " " nm'itinin unii-inf- a
TOTAL LIABILITIES
Integrity Trust Company
Fourth and Green Streets
issoclntlen
The bulletin imlnts out that nut nf
70,8.12 heuies In indiistrial dlstrictM,
elRhty-three only were vacant and lit
for occupancy that rented for $50 a
month or Ichh. In elRht months of tills
car only 1044 permits for new dwell-
lnpi rern InuhpiI. T.nut tern miU. irtfVCi
11 is iiiiiiersioeii, in a cry pmiw.- ....i . Were issued ler twelve mnutlis, jet the
the blR guns In New Yerk Rave the lm-m cjtr population Is growing at the rate
hepherdM of the bulls and bears an I 0f ,10,000 a cnr.
opportunity of "putting their own house ; A fn,r rc)tn, , rf,ftre.. cnntinllM,
... .... .-.. iiieri- "i""V"; ,,'' the bulletin, "rent gouging Is crooked
ever, that unless atisfactery actie Heccnt complaints report $28 rental:
the elIicri'H nf Mm. lnenl exchiiliL'C te
(certain alleged irregularities committed
I by its members. These alleged irregu
larities, in the. eyes of the managers of
Hie ltig Itemd, are unpardonable of
fences and a direct violation te ethics,
according te Ileylc.
Capital $500,000
Surplus and Profits $1,821,000
1 '
i, .,, 1 1, i ii
I
I
taken, the Hig Heard inanngcrH would
take the matter In their own hands.
Thnt meant the removal of ticker serv
ice from the houses under the nllcfied
charges.
Surely a Ileal Mystery
AVhen the promoters of 0. company
1 Cent and 1 Minute
A postal card with request will brine; te you with our cempliments:
1. "UPS AND DOWNS," n market review that represents the
concise consensus of n multitude of expcit market opinions
and tells you the stocks that should be sold or bought with
staled prices. ,
2. "A Few Facts Told in Plnin English," n copyrighted booklet
that is meht unusual and instructive and is all its title says.
We believe that once you are acquainted with our service you will
icalize that in justice te yourself we should handle n part of
your business.
Alan A. Alexander & Ce.
STOCKS and BONDS
COLONIAL TRUST BLDC, PHILADELPHIA
Her : Itnre (II Kit lie II: t.irnt .-.."4l,-.S.3.. Ilranrli Olllrr. llrlil-rlnn. N. J.
being increased te $50, with no rene
vatiens being made. Ilent geugers
cause nddltlennl overcrowding.
"The shortage of dwelling1 has
brought old buildings Inte the market.
These have been altered te limi-i- from
three te five families each. Investi
gation has shown that newly converted
eagerlv seek information for the re- i buildings ere usually illegal tenements,
.. .... . t - ... .1.- .......1... I .... !..!.. ...1,1. tl. ..?.... ......
1 L-RU"
net complying with the safety
lutleiii."
spenslblllty of a rapid rise in the stocks
nf the company they gave birth it surely
becomes a real mystery.
All Mcre Ilalderdash
Cniiiiiienting en the possible strike of
the railroad workers, a well-known
market Interest remarked yesterday:
"Labering under the old delusion that
the appearance of their names in the
nulilie nrlnf ...illlt.w tliem tn n nlnce 111
the Unll of Piune. n few smnll caliber this district 'is less than In the 100S and
officials of the miner railroad cinpleje' 1(114 depression periods. A letter has
unions nre disporting themselves in the been sent te members of the association
spotlight again this morning In the Chi- I setting forth the findings,
en go dispatches predicting strikes next "Survevs at these times show in man
month Hgalnst wage reduction, which ,,,., in jj)()S tll(,n. wnK n decline nf
became effective July 1. Such talk l , 447 ,,rr rcnt from normal and In Till 1
mere halderilash with three and one-hnlf: decline of .1.1.5 ncr cent. On Scn-
milllnn men out of ciniilejmciit in the tcmber 1 of this vear the decline had
BIG SLUMP IN METAL WORK
Trade Mere Slack Than In 1908 and
1914 Depressions
Records compiled by the Metal Man
ufacturers' Association of Philadelphia
show employment of metal workers In
enuntrj. Through many centuries van
eus anil sundry individuals have vainly
1 endeavored te set aside the law of sup-
l ami demand. As n general thing,
I hey went their way unhnitered and un-
' sung Anj kind of a strike by a railroad
reached .14.7 ner cent. The percentage
of unemplejcd in 100R was .11.5 per
cent, in 1014 27 per cent and September
1, l'.llil. 4S.S per cent.
"There are several indications of
miner Improvement. Demand for lalsir.
Frank F. Bell & Ce.
Established 1891
Members
New Yerk Stock Exchange Phila. Stock Exchange
Chicago Beard of Trade
1116-18 Seuth Penn Square
Philadelphia
22.') De Kalh St., Norristown
lil'J Linden St., Allcntnun
Twenty-seven Years of Faithful lirekerane Service
Phenes
Bell, Spruce -J2I t
Keystone, ltace 1047
union today will meet the same fnte. I thmieh still slicht. has increased notice
win- miKiir nimnsi ee welcomed u it nas
the effect of ridding the payrolls of some
of the dciidwoed new being carried."
r
Steed!
IN
the execution of your
orders
notifying you of mar
ket fluctuations
answering inquiries
for quotations, latest
market news and
ether helpful infor
mation. Direct private wires bring
the warket te you.
Make use of this un
surpassed service
CALL-PHOKE- WRITE
WE OWN AND OFFER
JMnl M .rk L.in'l lllllk Unfit
lip.irltiK IntereHt at n'?'.'- it
,t iir1' e .i.l 5 .'17. .nrs.
bends nr' ex. nii't fr.'tn t.ixa
t Ien f-ii.-rul iitate, e n, rn
J.tMni; Hi.' Hii'iif tnx (.xfiurtlim
prlii t'ri'i as tlif I.ltHTty 3'jh.
WlBtHin BLIX3. PHILADILPKIA
,., AkmimPhttttAiphlaami
w u brk Stock Ar
UIIAMTM, W.J.
Meetln? Cress-Currents
A few cress-currents are disturbing
thv general tendencies of stock market
swings just at the moment, but these
should gradually wear off, according te
the opinion of competent observers.
Demestic Oil Conditions
Estimates nf the American Petroleum
Institute indicate that, with the three
weeks ending September 17. average
dally production of oil in the I'nltcd
Mates decUned mere than 40,01X1 bar
nblv; with some exceptions tne gross
number of men being released has de
clined. Average' wage reduction at the
end of August was 10. 15 per cent."
GIRLVEDUCATES" SCHWAB
Though $5 Tip Was Left by Mistake
of "Furrlner"
Washington. Sept. 0. The enfe
terla breakfast check amounted te fifty
cents, and the big man who had con
sumed that amount left a .?." bill en
the table ns he made his way te the
counter te pay the hum punched out
et the slip.
'TliftLn fnrrlnnre flntlV f-nf thn pnm.
reis urn wimp i ne ngures ei tue i in eu hinntlen." murmured the waitress te
States (...(.logical Survey of production tl nltr0h.H nearby and she hurried
In August will net be available until I ,,(,,. ,m
the last of this month, it is believed i ..Mst(.,:," explained the pursuing
iVc.' '5.i).V.l! l"W..!,.!,,r'P1,Jn,,-Tr '''; waitress, laying a detaining linger nu
..'"" .'." ""'.' I'"""." ." ". iviiKiisu t, ,,.. .l.. "vnu'ie irnr In
than they did in July, when there was
a drop of approximately ."0,000 barrels
ilallv. in comparison with production
in June. There .seems, te be unmis
takable signs that thp beginning of n
steady decline In production of domes
tic fields Is new under way. The VA
Derade held in Arkansas has appar
ently passed Its peak and is new pro
ducing approximately 120,000 barrels
less dall.i than a few weeks age. Other
"Hush" districts also seem te be drop
ping behind, alt heiik'li net te as gr-cat
an extent as the Arkansas, Held.
The real story of what may be ex
pected in the way of continued high
piiiiluctlen In the oil fields of the I'nlted
States: Is told in the lnenthlv reports
of new work under way In the fields.
At present there Is less than 4S per
rent as much new wnrk under unr ni
there was a year age, and the rigs 1 'r,g trade.
mans sleeve, yeue gut 10 pay
at the counter. The slip tells hew
much." She poked the bill at him.
"Yes, I knew." replied the man
continuing te the counter. "That." in
dicating the bill, "Is for you."
The "furrlner" was Charles M.
Schwab, n little late en his way ti the
unemployment conference.
BRITISH TO AID JOBLESS
Consider Forestratlen en Large Scale
and Overseas Settlements
Londen. Sept. JO. (Hy A. P.)
Newspapers here today devoted many
columns te the Government's prclimi
nurj efforts te cope with lie grnve
problems of unemployment and declin-
"
,X
PHILADELPHIA OFFICE
Widcncr Building
Teltpbenei 5'" ' " ' Lu4710
""" Keyitene. .Race586l
DALTIMORE OFFICE
433 Equitable Building
Telephone 1 St. Paul 8451
v,v Hirrct PrlvnteWlre.
sew Verk Chic-jrii Heiton Philadelphia
Fllnburgh Detieii lljltimeie Cleefird
Jenes & Baker
Memberi NewYerk Curb Marktt
ea
w
30-Yr. Mtge.
Sinking Fund
Geld Bends
Te Net
About 6.25
Cf
Guaranteed
Principal and interest
by the .Southern Pa
cific Ce. by indersement.
7an,,la,"S!c,",,Js normal Income
Baker, Ayling & Yeung
WBEI-H W. SWAIN. .r.. M.umter
Land Title Bldg,
Bo,en Philadelphia
FISCAL AGENCY
A highly reprnrded, established
bankinp; institution, adminis
tered by management of many
years successful experience and
net affected by conditions,
seeking new capital for ex
pansion purposes only. Net
earnings are mere than six
times dividend requirements.
We invite inquiries from large
investors, investment bnnkers
or responsible fiscal agencies
who can produce immediate,
results.
C719, LEDGER OFFICE
which nre being erected for drllllnc
show mi even greater falling off in
percentage. The new work new under
wa in the oil fields Is net enough nor
mally te maintain production, much
ess te lncruise it. Heccnt advices from
Tulsa are that new production is full-
I lug off In the Oklahoma -Kansas fields.
The weei; ending September 17 saw
thu completion of sixty-two wells In
Oklahoma -Kansas, nf which twenty
nine were nil wells, aggregating nn In
itial dally production of (ill'J.'i barrels,
the balance being gas wells nr dry
hnles. Since the middle nf August the
decline In the number of completions in
the Kansas. Oklahoma field has approx
imated 1!() lier cent, while thn ermln
output of these wells lb showing a sharp yesterday, drove n mile down the right
diminution. of wny of the Snntn Fe Railroad near
j Reading. Tuesday night, threw a dim
.Shrlnkage in Dividends fjer signal that stepped an express train
Dividend and interest disbursements and then filled their car with a score or
I'rlni" Minister Lloyd (tcerge will
held furt'ier conference-, this week-end
with tin' Chancellor of the Exchequer
and a group of financial, commercial
nrni manufacturing aiitheiities. Sub
jects undci discussion by the Cabined
Cnenipleynient Committee include for fer for
cMnitien' en a larse scale and eveiheas
settlements.
HALT TRAIN TO STEAL GIN
Brigands Threw Danger Signal and
Then Lead Up Aute j
Streater. 111., Sept. 2fl. Illy A. V.) 1
Automobile bandits. It became known
Invester's and Trader's
Hand Boek
CU or write for a FREE copy of
the latest issue
SMITH, REDPATII & CO.
llrpHirm I'lillti. .Sl.uk I'm Iimied
1521 Walnut St., Phila.
rhnnrai Snrur iikhiiii,.... 3.1111
TWIN STATE GAS &
ELECTRIC COMPANY
10-Yeni- B' Secured Notes
fnllnti ril pi'ilKid entirely corn cern
pueil uf hnmls
l.'uriilui: llM' turns Interest re
null f nu nis. with uninterrupted
pri'fi-iicil iliWdeiid record for past
twche ye. lis
Price te yield 8 V2
Circular '1 ,S'. 011 icijucat
Fairman & Company
Drcxrl Rldg., Phila.
I k, ililMuil UHIJ
A. H. Bickmore & Ce.,
Ill Broadway, N. Y.
frirmmin umiiii... ....!
ier eeiiemner ieiiii ,.n .iiuu.iani, com
pared with ?1 74,1)00,0(11) in August and
sllglitb mure than $237.00(1.000 last
.September. Dividends will amount te
enlv $."0,000,000 of the amount, com
pared with Sne.000.000 a j car age.
Increased interest pa meats will serve
te bring the total of disbursements up
te the same amount a jear age.
I'nnh nny ,
Tim llutler
MucVamiir-i
M.icNiimara Crescent
Midway
Mlzpalt Kxt
Mentana
North Star
Itpscii. Kula,
TenniMh Kxtrnnlen
Went Cnil
U cm Tunepah
Rears Getting Fresh Courage
There were many indications in the
character of the market opinions ex
pressed last night that bear activities
hac been resumed en a large scale 1
and that organized efforts may be
looked for within the next few days 1
with industrial Issues selected as special
targets for hear attacks. Predictions
weie made that bear attacks will begin '
en several of the stocks that were forced j
till., TiPiiniinPTw.f, itlirn linnr nlmicpl'S-
took an active position en the buying ! Aitir'nuw!.'1"
sine 01 1 ne nuircKt at tne iieginning 01 Hc!fii,-r
this month. Fer a tilim little was heard
from these quarters except the bril
liant prospects of industrials and bright
hopes for ether securities in which tills
reformed bear element had become in
terested, l'art of the talk hist night
urn. fluir llw.c. Li,i.lnlii-,i lntnri.sti hull
. ..;. ""..i. ".;......! ; .v. ...i...n.. ")' i'm
tin, 'i 111, limit uuiilll ii.iiiiHK 11. . ' ...'..i. ... KllliX
mere cases of gin, consigned from Chi
cage te San r rnnclsce.
A mile from the scene of the robbery
the automobile caught tire and nfter
maklnc an effort te put out the tire
the bnndlts tied. Police saved ten cases
of the liquor, the remainder having
burned.
LOCAL MINING STOCKS
TONOPAII STOCKS
NEW YORK BOND TRANSACTIONS
(fKi,na in noeoi
,rtnmn Rip 4t
H. ... SO
1 0.1
Am A Ch Sn
1 01S
Am'n Aitr'e &
Chrm 7Hs
T.
3.
2..
A S
a.
enn
. . nr:
II' It Si
70
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n .... M
r. si
r. ... 3
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11..
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HR
SRVJ
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10.
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4..
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102 W
102
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102
102
102
105
Armour tn
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8314
S2S
A T A d I 4k
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23.
1.
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4.
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781,
78
78 V4
78 i
781;
78 1;
Atlantic Heft
ct OH 11
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1.
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7014
70",
70-v.
2 70".
2 71
Halt O .T4i
1 SBS
10 :. . ss
, 1 .... ss
. Oule) ss,
f. (Kale) RH'h
a ss i
S ... 8S ',
2 . .. . 88
Halt & Ohie 4i
10 70
l.alt & Ohln r.s
2 73
1... . 731,
l'nlt k Ohln ..
1 H3
II i O Tel 4s
1 ... r.ns
D.'lh Steel ti
1 . . . 8S
:i . . . 83 '-j
IMn C"t M 0i
S7
D 7
lll2s,
102U,
T 7
I'nlc.iKO Mil !t
t cv Cs
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1. .
4.
83 '4
. 83 ' j
. 83 J4
. S3 V,
nst 4
. 80
In ltalluav 4
1 . . Ml.
Htnnd'il Oil of
Calif 8s
11
a 1
n
2
SwtisM
1 . .
1 ..
Tr A
1
101 '4
Cn 8s
. 1"7
. 107
Pa. lit
. S3
I .1 H Strel f,s
1 . (1.1
1 .... (II '4
2 . . . (1.1
3 . . 115
Utah Power A
I.tKht fis
1 .. . 824
Vn-C Chm 1st
1 01
Va-C Chm 714
2 (12
Vn IlallWs fts
1 80'4
1 . . M
Wash'n T 3 4
1 . 0')
Wrstn lllec it
a.. .. list.
Wn Pacfle lut
1 sni,
B 8014
'V t;nlen li,-
1 . 102'.
r, . in-ji,
4 . 102 n
2 . 102V,
1 1"2'
1
3 ..
I
1.
Wllsnn
I
Vltnen
in
1
-mvh rterri.ai"l fftn,ena. rlrrillatlnn In
ii.nsrt .1(111.000 Millien ile reusiTl 120.10,
ntlii-r siciirltles ilerieiisi'il 111211000 ether
ilepei.ts ilitrMisi-il fli. 783,0(10, nilllc ill)
limits ilrn n-i-il 1. 72(1.0011, net.- reserve en-rrnsi-il
f.lilil.oen. (levcrninent securities ile
it.ainil 11. 330. 000. Thn proportion of th
bank's reiervp te liability thl rek Is 1R.01
.r n-ni. Inst n-eek It ns 17 30 per cent.
Ilnt of .lls.-eunt. ftV4 per trnt
Thlnl Ave aj
1 38
riclewntrr Oil
Ce ct fl',4s
1 07',
1 . n?i;
Pee'n A II tst I
1 . . . no
Hep Chile rctsi
10 .. !ISS
II. . (is
1 .. !'S1
2 ... (IS I
1 . . (IS .. I
2 ... til. I,
1 ns'J
nep'c of Uru-
Euy 8s wl !
.1 . . . nn
3 . . (Ill
I ltd
2.. .. dS'd
Heck ll'd A A
I.eul'a 4'4
2 71
71
A 8 I" i.J
. . . nn ' 1
3
St I
I
,
10 !i7i
2 . IS
1 US
Teledo St 1 A
IVest'n 4s
2 .. . 4rt'4
(Tnlen Pnc cv
10 Sl1
1 88',
t.'nlen Par r.l
2 . 7S
(7m. n Pac 4
1 . 82
Cnlen Par a
3 1 00 H
1 100
Vn Tank (' 7s
1 1021,
C K (irt llr..
A I d 1II2I
1. OH',
1 . . (id '
.1 Wl
'.' lrt llrlt
A I'd I 122
10 lis
il !ls
ItlKh
Libert v -Tjs ... Wl
Liberty 1st P,,h . JI'l.SO
Liberty LM 4',s . fi()..'IS
Liberty .'Id ', . IIH.SK
Liberty -Ith 4'(s . Wl.tMl
Vic. Nete : .. Hit. IS
Vic. Nete r-y,H .. Il!..ri0
1 30
I...W P M
HS.'.'S SS 'J.S
110.71 !l Ml
nil .tj en :u
llH.M ll.'i Mi
IK) ."('. !l(l. (I
nn. ii! mi. 4s
mi. n; mi. is
Reserve Banks Discount Rates
f iff I' Inl rlli'-euiit rut 11 1 the twelxi I
era! m'sene nanss nie ne imiewi-
ed
Posten
S'eiv Yerk
Phila KIphlK
l'te I'lllll'l
Illebmnnd
I In nta . . . .
Chlrane
St Ixiuls
Miniiiiipiill"
KnnpiiH City .
.. Il.11
Km Prancleoe
Trns
rtf-.
r. "a
r.W
n
n
n
11
.14
il
n
3W
Mb
b.nds
fl
r
n
a
n
n
n
n
it
Cem I P
pnter aci
'.
n
ii
r,
n
ew
n
0
Bank of England Statement
Londen, Spt J'l Thi. weekly stslernenf
c.f the Hank of KiMlntul shows' T"'a. r-
SI I, i H I
10
ll'l I
n;i',
ii'i',
nn',
i.n'j
II!".,
11
Is
lis
ns
10
14.
II
13
r.s-
.18 Vi
r.s 1,
r.s 1,
r.s 1,
.-.s
r.si,
11
11
11
11
a ns 11
1 IS ti
f K (irt llrlt
A I d 1(12!)
1 nn
.1 no-,
f K (irt llrlt
.5. d 1037
1 . sfi ?(,
(I . . (HI
C S Ilrn?M 81
2 '! 1.
101 'i
101 1. IO Hay A W II
s'.
A H 8s j 1
Oil
nu
S cv
ft"
''4
Hud A Man fd
1
8
13
1
117'j
(17 '
,17'jIIud A Man In
.17 I
.17 '
.17 I
1
8. .
3. .
10..
.Ill ,
ft7
C71,
.17 H
.17
.1(1 ,
OS
il
r4v,
llu-h HUlf ,1s
2 .... 70
2 . . 70
Hush Ter'l 4
1 70
Hush Ter' I ,!r
2 ... 75.
ranid'n Nth'n
014 rets 3. . . r.Oi,
1 100-4 10... . net,
0 . . . 1 00 I .1 .111
3
Canad'n N 7s ' 1,1
4.. .
1 . 103 S 1.. mii,
0 ... 103', Denmark c'en
1 . 101S ct A Ss
Omi'I of Oa cn 1 . 102 '4
1 . . .SH, 4 .. 102
r of Oa cv 4 1 1. . 102S
2 . .. .17 1 fl'iimark con
I'linnd n S ,li ct II 8
41i,
41'4
. 4.1
111 Central fd
I 7s'i
III fVn" 4s '21
10 ... 7.11,
His (.en' I .l'ti
1 14
1 .. H4'j
fill', 1 1'1-4 l'en'1 1114
1
1011,
M
r.H',lII C St I. A N
100 Del A Hud cv
si) 14
103 Del A Hud 7-1
Or Jt II .1
1 . . h.1
Ind'a Steel ,1s
ft .. 83 , 3
CU Pacific lit 1
7.1 Ti Den
102'.
102'i
1
Interb II
8
14
1
1 ...
10
10
I
13
T fd
r.,i ' j
,ii'-.
,10
M'j
M'
N Y Ctl en .
1 71 ,
3.. .. 71 .
N Yk Cent' I 0.
10 im
4 .. lie.
7 . . . . (111
0... . fid
N Y Cent 1 7
2 .. m.T.
N Y I.k-ht II
A Pwr 4
1 fin-.
New Y N l( n
Hnrfil Us
2 .14
1 . . . . .11
N Y Hwv. Ii
.Ksnle) 1:7 '-4
N Vic Tel It,.
1 . . . 8,1
N Yk Tel'e il.
12 . Inn.,
Nfk A W'n 4
1 78
1 7SI,
North Weite'n
Hell 8 7s
1 .. 10l-
2 101 1,
N Pacific II 3
2 . . . .17 V.
1 .... f.7",
N I'ucfle K 41
1 .. 7C-.
10. . . 77
N Parldc It Hi
1 102 V,
Nth S Pwr .is
1 . 82'.
I .. 82',
iimiren S I. Oh
1 (in.
Ore-W If ,1 f
Nul Ce 41
I 72
St I. A S I'rani
S.'rlei A I
1 11:1 1, 1
1 .... 0:1 .
1 . . r,3,
7. .. it'll,1
2 .. 03V
! I. A h I 'run
S'Tlei 11
I 7'li.
1 . Till,
2 . 71.1 '
1 701.I
-t I. A S rti.n.
Series C '
1 . 112
st I. S'ii tst
2 . 70 1
St I, Sevr'n .Is
1 . . (17
s'n. Poule of
Hraill ct 8
1 . !'7
1 ... !i7.
Scah'ci A I, ftj
is . 2,1
1 2.1 1
1 'Oil
Sine, ilr C 01
Cerp'n 714 ,
1 1.2
112
(12
2 I
'.-'
02',
112 '
1.2', 1
ii3
T fts
81
3 'Ki 1,
1 i'i',
1 ..'! ',
2 . . lid',
i'l
1 (I'l'v,
1 . im
1 . i.'ii,
1 !i'.
3 . i'i
2 dfi",
2 . im ,
s l(l,
1 i!lt
S '.I'll.
1 . d,
1 IKi'i
:i im s
2 . Hill.,
20 pfi',
1 . mi",
1 (.'!,
I "!.',
1 PO',
V S Mexico 4i
1 41',
2 . 4 1 I,
1 41
I 4 I '
I" S Meilcn 5
1 r.7
Mexican Gevt. Bends
and
Mexican R. R. Bends
; Guaranteed by the
Mexican Government
All Issues
Bought Sold Quoted
A. A. Heusman & Ce.
C New Yerk S! -. k Pxeh
New Yerk r.,tif,n :x-l
New Orleans ('"'inn Ki
N Y. Coffe.. Senar Kx
New Yerk IT ,lu" I.x
CU'roire Heard ' f TrH'l TrH'l
ineelnte Minl,i"h of
I.lerpO". ( n".,n A-s n
20 Bread Street, New Yerk
1111 inch errirKs
2.1 lVet 33d Street New lerk
I.thert.i llullillnn. Phllad-lpblii
lVoedwird Iln II din sr. n.lilncten,
.XiiiMeriliiin. Helland
M' niber
r,
le
1. . .
0 .
1 . .
3 . ...
in ". ".
4
S'n Hell
I .
10
in
11
n
S'n Paelft'.- fd
1.. . 77J.
I S
3
c s
1
1
1
11 -
r.7
.17
17
Itubb r li
si) 1,
SOij
Hub 7 4
. 1004
lO.i
101',
Tiega Steel
& Iren Company
Heavy Commercial Machining.
Experimental and Teel Werk.
52d and Gray's Avenue
n, i'I('l.pii',I
10
1
711
i II 1 fd I M Marin- 0j
1 ',
7.1
4,4
D,T) & P. O 4
7 . . 117
2 .. 07 4
2 . 07 4
Den b n (i ,1i
1
1
3 .. . 70
Cen d'i Pasco 3
Cen'p 81 Del IMI rn i!.
1 .. 1004I 1.1 .. n'i'i!
C"k 4 O cv ,1s Del l H 4V,ai
in
1
1
1
SI
s'Ji.
S2'.
S. S
70'. Jap llei't Hts
."... sr,
1... s.-,-,
0
1 84 I 1 . ,ls Jan Cm
4 .. S3', De Canada '2Ci .1
2 .... 84 ! (1 . 1.3 ', I -
2 84 I .1 .. in 1 in
' & A char 5, ft tip, Kan C I
Ml De Cunadn '211 i
Q 4ii I . 04',
1034 De Canada '31
10.141 7. 11.14
1014 1 3 . 11-
101 ', D d Nemours
111,-4 l'd'r 74i
sr. 1,
t 2d-
(, II &
3
K.-m
K C
1
10.14
103i
134
II (1 4
H!i 4
id 4
1li
'.id V,
I104
1(0 4
riii t, a v i. .1
3 . .13', 3
7 . .12'.! 30
f'hlrae MII 4 1 3
MP 4i '2.1 Dii'i I, lent fli
0 . . 7d- I
3 . 7.14 Hrl.) Oenl I len K ll'ls'm 7'i
IllleilKO Mil tt 3 1.1V, J , m,-
S(P fd 44 Krle n II c A K li..n.-n r. t
0 .''S I 3 3(1', 7 11114
1 ftS', UrU Itlv Ce 4 I Ki i,
ft fts ., 2 Sil", 1 ii 4
. 8ft
8.1
t. S 3i
. .18
& S ftl
7(1
Rly 4.1
74
2 71',
Kelly Sprlnw'd
Tire Ss
1 .. H1',
4 . . ns,
,1 . . . nsi,
3 . . 1 1 ' .
1 (1(14
4 (id i,
K llelclum Hi
(1:
L. M. SEIVER
President
mi
P. R. NEUMAN
Treasurer
Automobile Banking Corporation
Widener Building, Philadelphia
branches in Haltimerc, Md.; Harrisburg, Easten, West Chester,
and Greencastle, l'n.
Correspondents in Other Cities in Penna., New Jersey,
Delaware, Maryland
THE ONLY AUTOMOBILE FINANCE CO. IN PHILADELPHIA
WITH A PROVEN RECORD AND ESTABLISHED GOOD WILL
Over four years of exclusive activities in this field have placed
us in a position te be of helpful assistance in the development of the
automobile business in this territory.
nid
0:1
Ail.
.n.i
ihvijh: STOCKS
H Irh.-r Extension
Hen Ilur . .
HreuKh Phldn
Idvlile i:x(rnilnii
UMite Cens
DIMib'tld
Hast I)llde .. .
Harmlll .. .
IlRSlitnlU'k Ullde
14 in
ns in
.10 .in
.0(1 01
.1)1 0(1
03 ni
.10 .20
1 42 1 .ifi'
,M .Ss
.08 .10
1
.01 n:
.01 ii..
01 ei
01 nt
Leuring en some of the steel Industrials.
Dividend IJcsiiiiiiitleu Delayed
t'ljde A. Heller, pri-wltlent of tlic
Toiiepah Ilelinent Ceiiiiaiiy, in n netlrc
te stecklmlili.rs ni'ceiiilinn.vliiK the state
meiit of operutieiir. for tlie Jtini n'liir
ler, states tlmt the eeinpiinv desires te
Inn civ ii'seurves Lefere rsiiiniiiE divi
di mis. Net inioine for the nuiirler wns
.:;'' "S7, lenipnred with SI.TJ.TUII In the
MiiP'h ipiarter I.nlier trenldes luive
settlisl i.ml (i(;es reduced te pie-war
I'll"!".
('ninineiitiiiK en the Hen mid hteel
Itew'rt llldi
Hi no I)t Ida
Ilnnetta
SlUer KlnB
Sutherland
Ten.'Pih Dlvile
Tonejiah H.mtireuik
Victory Phldu ..
V rd.. Phld.i
Zone
.Oil
.23
.01'
02
01
.111
.01
.011
.02
.01
01
.01
.02
.(1.1
1.2
.01
02
07
BROOKE, STOKES & CO.
-OS. Fifteenth St.
Philadelphia
Washington Baltimore
",!
STOCKS BONDS
GRAIN
Our Weekly Market Letter
reiuniMitti'K en the hasle
f.iciers inlliU'iu'liiK securities
hiul cnuimedltlcB ucnt m
reiufll
Boureau & Evans
,, , I'hllu, Slmfc l'.Kchinie
.Mrmlirrs j ( ,i4.ge Ueiinl ut Iruiln
130 Seuth 15th Street
riiiia?elphln
ijjctul 5181 .. .Vines J78I
--ir-Fr
Iloeth
1 ''iml.lniiili.il Kriiitlen
CraeKrJaek
!mnninitfl.-ld II 11 .
(I..ldn..ld Ciin
Ciildnel'l Deivloinnent
lleldtleld Deep .
(Ireat llend
hliiinlieii. the Iren Ari in the pnrreiii I Ju" 1. -ten-Ien
' Iv
1 Mir M .
iui.i.ni:ui ktch'ks
02
.evvanus
l.iiii) Star .
nre .
Itid 11111-4
Mlvr I'lek
.siiearhead
"Lenders In tl.e steel trnde speak nf
In !(,-(' r mill eperntlmis hi the lust (iinrlci (iinrlci
ef tlie ,enr with 11 I'entuleucii they did
net show as Septeinhcr opened The
hist week hits brought further signs of
I tielteriuent.
"Net a little stir ns crentdl hy the
1 etlen of ('ji'iipkIp Steel Ceiniiniiv.
vihidi lieeiiine known Mmnluy. puttliiB riufeki iieii-
in ii'it-rn nil lllllll" llllll hirilt'tUml ' "ecu
simpes ut 1.1,1c nun en Imrs nt l.ll.'e
These fieiires are $2 n ten below theso
lust nniieiiiievii, nut are ..' te i; hlf-lier
An earn
ArlJ.ina United
Caledonia
IMen ..
Iinuna Sliver
Kureki Croesus
.03
. '. .0,1
1. 1
DO'
. 01
03
.Ill
02
2 1 10
OT
02
Misi'ni.i.ANi:ni'i4
1 no
than the actual market nf recent weeks.
"It la tee early te tell hew far in-
07
Ill
. . . 02
.37
I'l
A I.IM
I,.(1,..P I nA .. .."'
;-; ,' :r; ?t 11, no
Nevailn Hill 01
Nevada Wonder , 15
Success .., 02
llhlta Cp ni
Wlbcrt ',,., , 0l
I
I
,.
ns H
'.'1
' M
04
'IJ
1"
111
dl
11
Il 1
.'IJ
0.'
ej H
1 .1 I
i,s y
r.l I
J P
11 1 'B
ll'l -S1
03 Z
in
te
"'.I
Jl
ll'l
a
0 ,
4 IT',
n .-.
OL
20
.03
.10 t
.0.1 21L ... 'L ' '
HKlll l'U ""el&eft-S?155" 3 M Sffl B"t
Pfrr Ml I 4.'A.i,'"mr,llJtHI,"7ilif mjni'wsi-SS) 4L
ANY AMOUNT OF ANY ISSUE
Should you at any time wish te buy or te sell
United States Treasury
Certificates of Indebtedness
or
United States Treasury
Three Year Notes
A Natien.Wide Market
is reached through the
Commercial Trust Company
Member of Federal Reserve System
CITY HALL SQUARE
WC8 TO StLLtS
"" eun-n-
'ojmwMemmi
Why Guess
about Sales?
Yeu can knew two months In
advance the amount of business
you can expect from any given
v" ' S3
mmms Kepetts
G "A,lt.lA. Ct!r' CawIj-a fn-n(eS.a
you regularly with a scientific forecast
se arranged that by a simple calcula
tion you can figure your own talcs, in
advance for any one city.
It Is a matter of vital Importance
with this figure you can see what's
coming and plan accordingly
November Fereca-t FREE
This Bulletin Riving the November
forecast and Booklet " Incrtasmg Net
Profits" is available for distribution
te interested executives, gratis.
Tear out the Meme new and hand
it te your secretary when you dictate
the morning's mail.
Mr,tyAh for Butltlin 34WG
Reger W. Babson's
Statistical Organization
Wcltcsley HUlt, 82, Mass.
(Suburb of botten)
Tht ta -yi-if Orrjaniiatwn efutnn
Advtttrs it Vi4 World
" C' 0ff""
Fer Your Secretary
Meme
Writ Resir W RfcWeR.
of
founder nf thm II h n n
: autdtifat Orsanttatien. Welkilcj Htlli. I?.
: Mim , qj folio i IMeie n-i kcepv of SprUl
I Hulletln Ne UV6. and Booklet -''inerttuxng
I A't I'rajit' gntlt
(uflitllllttlllIIMII((llM(lllllHIIIMlllllllMltllll1IMH
Financier Manager
Wl 'e . ,'xj'rem '1 aKKre-t( and ener
K-'i n'nii tn prime r,f itfn an'l excellent
h.i.ih !ejrert tr, rennert lth a sub--iniif
inl renr rn thnt run adcfiuat. ly us
'h f . mrlr.K 'lU.illllrntlens
rin.inilin; I'urporntlen. and this (unda-
ireniui pr,n Ipli s of Imanre
Iiiniicrinent Abllltv te ercnnlie and
- .'iiim'I?. ihr'nnrh iinue .. ni
B.inlze an) control men. te think
(,'rf.lcht anil clurly In a practical
munn-r
Aernmitunrj !mlimr with twnl-rn nc
'juriilnit methefln nne rout a -terns.
In luiHiiif credit adminlitriitlen.
Tiixntlnn I'n-til en the Federal and
.ehirt of the Ka-tern Slated tax lawn.
Thie'iith personal effort ulitalned eub
"tantinl .iLatem-nt In TeUe-il tax as
Kinminti. 'aw Familiar with the law nf con cen
irrt, tixatUr, deeedenta' estates.
I'errlcn I'-rlinnce Thoroughly retd en
'hl Important subject und Interna
tional llnam Ine
I.niiBince. Pp-ak fluently French nnd
Spiml-h nnd fairly se Itnl.an and
'. rin.ni.
K-pcrlrnre 31 ye1r- tn arlnm lndu-
rl In a m.inniti.r al. eririn' and
il rrnerat.. r,lpnri(y alre I'ulillr Ac-
iniini'iiic and lnta!.lnK re-t and ae-
euiifnix eftem-
I'ee.. rt .onn.rt'en i.rv pleasant but
ii'i te. ,fri'rr! ah ample epp. riiinlty te
! "ire iut lncntl'in- or te irr'W.
V 'nir,',M r .,,n rrterd wi.i be -uh-
rr.i''..l t,, the ln'rrrBied enlv concern
im' . m pu. Jinnnn e -, ime pr an-
1 J ri mi r ,'l i,u 1 answer.
t h.-ii. i.i:ii(.r.ic errirK
Cens. Gas, Elec. Lt. and Pr.
Ce. of Baltimore Securities
JosepKW.Gress &C6.
1421 Chestnut Street
C e tt r spa 11 eVn ta
Aldred & Ce.
. FIN ,NTI.'L.
IlMilrnd
l'lUI..I)i:i.rill. A --KM-KK.N KAILU'AV
Norrlxenn I'a Septrmrier 11 1301
rni:FKP.ED STO li IHVIIiKND NO "1
' T- rim-.l of injector- ha, thl ' day
! ned a !'"n.l of one ami enr-.iiinrirr
per lent il'i'.l en the prrerrd eteck of
h s 1 mpniu pj'ihle nrltilier IS, lO'Ji te
r-fe'-el Hoekhe.d rn of rti'irl at the c'les-
f lus.re.s '.-ptemher 30. UUI 3e
i h.r,. w 1 . be mailed
Mi.snrt: nnnirKsny Tren r.r.
Odlre of
im: rxiTrai .ah imi'revi'.mkvt rn
X. t erner llreuil and rch stre.il
l'n' ...pNa Sept "1 Ye"!
e Plrertnrs hae thl, rt..v dec.ar'a
l,"';n dIMIend of one per Crnt i.IOc nr
lnire) en i'ie cnminen me.-K of tin, com
,ar, pintle (let. 1.1. iei. ,0 h1."
. enim n ck ,! reieid at the , r ,. of i.",
r.e-, .-e;t 30. 1021 Cheek. .. ,' ' ,,U"J
rnMvi.ix XATinxAi. nvxu
Chetnnt -treet n nf Urnad
Ph I.. V Iphla. ptern1 er 2U IH1.,
At th. reuar nieetliiK of thn Heard of
Direeri t th, lurk h. 'd th , ,?S i
mmrterl. illiltlen.l nf n or .... ittr-tv'' K
rle -r.l fr. ' S' "'" X and , a vabU
Orteber I. 11121 10 teekh. ,d..r, "" recSp.'!
th 1 e-e of lui 11-.H Septen.ber 3e l(ii
1 i,'1.m v 1 1 ie nmilrd '"-i.
1J"M JfAIirX V.e President ami r,hl,r.
I ALTUMeiiii.i: iiAMiiM, c (mruiiAileiT'
I Philadelphia, Pn,
At tie regu ar Hepiemher meetine of th
Heur! cf " re ter, of thla corporation. th
juurtr A' d, n 1 en Hie preferred eharei
as been dec ared raiil.le ii, ut September
30. at 'he rule of H'r per niinuin Iloeki
..5.. I aepteiuticr 39 5 V. m. Chtcks will
Iv mal.ed.
P. It. NEI'MAN,
T-eaurer.
S"i
Propei
Tlll.Vsl l-l'RrMKNT. vCs7x7ll
" . .' -,!.. ,h.r -n l'l.-i -sealed
ir p.ii- ,l t, r- . 1 h thn i,.,,.r.
-iln 1 miimitt.c 111 4Hhu11.-'. 11 I) c
'"'. -' ' k P M M..,.. . ,,...r it"
'.'.'I 1 - Mrn'HiliiB lnrltiB ih. ,, ri...! he'--inft.B
Nejeml.r 1 l'.i.'l and eru'it !,,,.
-n-N -s ID.'.' ai itfunbel In tin. ,, in.
. ns an I 1 l.p.mii t,, ci.ma 11 'r,,Ke.
- n- ,rl f I f..r us- l,v thn . x-. ,itiv Ii..
' '"m""i -- "'"' ""tahlihliln. nit. of ih
i, iilii, nt ill WaahiliKten, Ii r p.
1 . en, -I j, e ,j(,,l br. rl ' r
l -t ,i I, l and nn l..k, llhl.h win bS
t irt. ni 1 up ,n api; irtin te thn (Je, era!
,-ip.. i .mint'.. AunterH' lluildinit Keii?
'; J' ""' u ,r- Wa.'l.inVenV
A W MI'I r -.
-eturj , t .he Tr..'.',,...'
PKOI'llsM.ft l-dic IIAIMOATrl. OFFinT'
. f tne i emmkiidiiiK- uilRr, p,.na. uuan.r.
in.h'er Inlennel ,ila Uepet. PhlU pi
""I irt puna in triplicate will i, r.l
,, ...,l hn-e until in A M. (Standard Tim.V
.I....I..T S. IU. I r furni.hln.rTl or any
re'V.e.t raim-eata. Information en
Annual Mr-etlnrr.
, Neunn.uN PAtini KviuieAnciT.
ciept' mti J UOl'
- (I. e I- herel v fli tl,, ,,, '' .
ir if ih,. . . l,h. I. r, of the Ner?l.?rrl
Pirlii. II. . llr,.,,. I (..mn in. w 1 I U. ,r,! '"
Mi.irMied. tuber nil. ll.ll. a, J ,'"c e?k
,. a Se 81 V..nu str. ( sew Yerk
f r th. .irp..e or .!. iiriir thlrla.n
.r an I until tbelr -or, ,,,, r", ,r ""
1 f.,r th- 'r,ir,n n f ,,,,v buai,, 'Vhi:
.1 l..fuly be l .OKI, before 'u,".",',." ,',;;
' MV IniHir, '
. miiki.t sTiti:r.T -iirni- aC-.i;
llll sr (OMI'ANV "
S'id anil Market Slrrrt.. Phil,., l.i...., .
m... .'. ;.r ;""
I. I
ji .lent
i. i in th. ..in... or ,,, .";':""r
""-r I 'If en I '" ."rC;
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M " ". n
.1.1 f'.r IKie tort, te I.. .., ,
1 '"' I' 'IIAH 'H.'ret.r.
:
l'in NK.KHIIiph
til il i. in .( ". ii-l iiii.iiki
Mbert Peitrl nnd Iluihl ne VurVn irV.!ii
a Pearl 4 lie Vereu I'niHT rlmn nui SIX
II, a dav .lelve,l PHrtneriAilp Tii h. 'iM
A.r. p.arl will cenllriu- le"inilut ,fh2
Ivuiin-m i M Vtwrl I'aprr CempanV. , All' efl21
. lien will klndy cemmunlcau wiUi AVtt
I l'eall. "037 N. Went .1. ",,, l"rt
n
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