1 'T $
TC i --V1'" "M.T '-' W '" " WVrT?
it,
20
EVENING PUBLIC LEDGER-PHILADELPHIA, THURSDAY, OCTOBER 27, 1921
m
'?!.
i t
I
Service and Stability
The Cheerful
Atmosphere
of our bank will con
vince you thnt the ren
dering of efficient serv
ice is a real pleasure te
our force.
Wc particularly solicit
commercial accounts;
ami in addition te the
usual banking accommo
dations, we offer you the
most varied and complete
service possible te se
cure in a modern Trust
Company.
Integrity
Trust Company
Fourth and Green Street
MARKET WAITING
E
ON STRIK
NEWS
Trend of Prices Reflected Con
flicting Advices Frem Rail
road Wage Conference
Capital $500,000
Surplus & Profit . ..$1,830,000
P
THE outstanding fact Is
that the holders of Pre
ferred Stocks of rationally
financed Electric Power
Companies have come
through the strain and stress
of war conditions without a
less of income.
We offer the Stf- Cumulative
Preferred Stock of one of
the nearby Electric Power
Companies which at piesent
price yields an income of
8.65.
Cenfrrencr f tnvitrrl en i"y
current luiftfiKi' svbjfet
unnncD p TimMcn
iirnrL.r vx i unncrv !
Investment Bankers
tlembm e rhi'adcliihia SincK- Erehaim
Stock Exchange Building
Bcranten Philadelphia r.eallrc
Ven 9 Spruce 8200 I
BOUGHT SOLD QUOTED I '
United States
Government
Securities
SECURITIES DErAUTMEXT
Commercial Trust
Company
Uembcr Fdral KTr Sjatrtm
City Hall Square West
New Yerk, Oct. 27. As would rea
sonably hi' expectP'l in view of the ron ren
tlii'tlin; fragmentary reports eenrrrnlni:
the railroad uhrp conference, tel.i '
stork mnrket lieved a distinct tcii(liniv
te mark time In 'uneiupncp, tlierc
was n furtlier ihrlnUaRe in the Milium
nf drillings, nml no Important price
chances. Seme few of the peel were
at work in the Industrial specialties. Imt
thpin demonstrations were tame In ion
trait with the concerted program
launched earlici in the week.
Suitlment rcirarrtiiift the lailreml la
bor controversy chatiRed verj slights.
nltliiMipM the eeinliht rioM-lepim'tit
were consuls oil less favorable and the
fi'ellne wc net quite se lertain tin'
threatened wiilliiiit of the brothel heed
men weti'd be aveitetl. The continued
Miujisli inetpmpiit of (he mils, how
ever, failed te ictlect nny great amount
of apprehension en that s-core. The at
titude of the bulk of the trading con
tingent was that of one of awaiting de
vi lepmctili.
Apart from the lallrend ermtrevrrn
there was no i.iiticnlnr Incentive con
tained in the overnight news develop
ments Considerable interest was inaui
fete 1 in the m u offering of the trr:i
mv certltn ate with the rate of 4'(
ter the slieiter pprtml of certiticate
As a market laoter vvu- nil. Neither
did the foreign situation, or the mod
erate reversal In foreign eNchnnge come
in for nnj great aimiunt of thought. Ner
was the mental attitude much disturbed
by the tiffer unmet, conditions
It was just a (juestKin te a large
extent what card would be plujed ih M
bj the-e responsible for the manipulfi
tive tactics of the recent sessions. The
technical position of the market hail
reached a stage, it was general appre
ciated, wherein a n' lmulus of mjiik
sort was icipnri'il te ive peculattf
enthusiasm a fresh start. At the same
time it was believed th" work of the
peels m the last three class In the
groups of lew-priied stocks with tlif
quick upturns here and there in many
directions wns for the purpose qf fa
cilitating distribution elsewhere.
Whether the program was i emplcted
t would be dluutilt te saj . but the tin
certain condition of tne railroad labor
situation had the effect te produce liPti liPti
auen en all sides. Seme eldentl be
.eved it a wiser course te either take
mall profits, m Mght or get out alto
ether and nine a i lean hand when the
v.tl pla started Trices held fairlj
veil in the llr-t hour within a half
point te a pemt llt' last night's rlems
eve!. Among the favorites of the oil,
-teel and equipments groups irregular
eait ion prevailed Shipping. ehcmUuls
.ind feed issues ul-e eased en iinail of ef
feiiiigs, but rai's were en'j occasion
ally quoted at trilling changes. The
few strong stock" lemprlsed lloasten
Mil. International Paper. Chandler
.Moter, Industrial A'uohel and Krege,
.iiuse gaming 1 te -l. peiuts.
LAKE SUPERIOR SAGS
IN INITIAL SESSION
NEW YORK STOCK EXCHANGE TRANSACTIONS
Pressure Forces Shares Frac
tionally Lewer Bends At
tract Attention
l.,mjiiiiHIIIIIIIIIH --,;
SUCCESSFUL
INVESTMENT
Under present economic cend -liens
is dependent upon the abil
lt i f the investor te correctly
analvze t lie essential features of
anv given Issue and te disci 1ml
nate bet.veen fundainr ntallv bound
Fecurltips and these of a ques
tionable character
Send for list of Bends
yielding from 8'r te 8irc
Falrman & Company,
Drexel Building, Phila.
t HtablMir d 100-'
A. H. Bickmore & Ce.,
Ill Broadway, New Yerk
Press ire against .e , nr of the
Lake Superior Corporation was tic
feature of the morning session en the
ecal tock echane. This K-U" a
I 'aken at li1. and ils. nnd in the tir-t
'rwmty minutes of trade let i., en sales
I aggiegating some "0 tdnres Kle-tric
Storage Uatteiv was nitivt. but land
Ibettir. advancing a full point te 1(W.
1 Thrc was little of iimrel m the
I remainder if the Ust. Phllacblphia
ricctric issue, were out in scant sup.
plv . the common ranging between '-"-' i
nnd L'J'a. imi'h'.ns-il, and t ie pie! ried
being marked up 's at -ti'. I'-im-
'jlvania, the lone reprcsentnti e 't t'le
railroad group, gained ' at Ue"1! en
' sales; of a few odd lets
, Bends attracted cinsiderabie .rtcn .rtcn
t.e.i, the prefe-'-m p bung fir the I.ib-
I I rty issues and the n i irj notes.
.s."ilec if Vif'eiv -1!'. aggrc itm some
I ne,U0i. were made at f IS.
Financial Briefs
"Pi R rrait pr ' f the t len' active in
!utrlT.I fluckn aihanced n 0'i nei cni irr
frUa;, te TJ -7 hll-s nventv railruads d
tllnfd 0.1 J per cent te 71 40
;minmi nTjiminimiiim , r i
AT PRESENT
PRICES
ft l . i rrmei i i
t, nlte 1 s ii h ) I
Illierty llenils from 1 80-5 IS
Joint Muck l.nnil llanlc 3 u
Joint Steik (..mil Hank 3 te
i'l. 1931
W . 1 2 ,M
Wie.nir Bloc, Philadelphia
M&n&eir Phihddphii CMcf
NitoYarkitecJiLxJuitM
The Bank of f.ncland m'n in im tl.sceunt
ra'e remains unchanged at e1-. per cent.
1 hn 'rfitAifn Pruljrt i orpnrrttiens ean
lrss in th lrt ihrfa-t. u.rir of thin jear
ueajeitate I mere iha" 11 'ss uOO eurt clem
u pa the full -ar ! velend en Its comm.,1
and preferred storks
D rector ct ine I'. nr' .vin a Salt lar 1
fattunnir 1 r rmv uern le-e.ect'l at the
.rmuu 10 . '.m intt'ni; At a tub
iijMt tne'tlner t 'li beaid officers were le
e c'td
r.jh- 1 n tl- N.-v T t, SlerVt Tt
hrf T. iirliinrl 'r ni.e account of 'he
i-l-U I'.j'i ' mpinv f r th si men'hs
lea Jurii 10 el. w r' mean after d
vrtctatn and nihur chatjes but lf 1
a :a of II beii -'i5
Sales
100
tee
400
aoe
800
300
200
3)0
H00
tee
130
aoe
100
1000
soe
100
810
100
100
tee
me
100
1011
1100
.-00
1000
soe
1.11)0
en:,
.tee
1300
,00
310
000
100
iJO
.100
nne
100
.200
tee
loeo
s,'J10
am
4 00
.moo
t?oe
i00
:ie
000
.00
noe
'.'10
me
700
tee
at 10
soe
.00
'.10
100
1010
13)0
oe
370
IM
1390
100
300
370)
100
309
.T.'OO
100
400
200
tee
60(1
me
3S0O
13)0
510
1100
U10
soe
100
1000
400
300
1.00
3 'JO
tee
(s00
100
100
100
100
'.'DO
2S10
130
C700
100
!j0
100
100
.00
ione
300
3: 10
tee
43)0
100
100
100
400
100
700
700
C000
100
3s, 00
14600
4 00
300
1000
.00
300
1000
900
300
390
101
300
Dlv.
in
I)
11!
12
0
10
te
6
Itl.h
Adams Express; ... 8
Advance Uumelv .... tlj-
A.tax Rubber SW
Alaslta OelcV Mines. .. H
Allied Chm A Dy... ,
Allied Chem & Dje pf. 88
! rkM 9L914
Am nesch Magneto... 35Ji MH
Am Can 14 '-'
Am Can pf M14 "9U
At r., e. .!. 1!tl 130
Am Chicle ...!!!'.!!! I4
Am Prut; Sn 8!.
Am Hide &Leather pf 3
Am Internat Cerp.... 334
Am-I.n France Unff. .. 8'i
Am Locomotive .. .. 91V4
Am Malt & Grain.... 1
Am Safty Kazer 4H
Am Smelt 37 5.
Am Smelt pf 74 H
Am Steel Foundries.. 24U
Am Steel Kdys pf 83
Am Sugar Ref l'tl
Am Sugar Rcf pf.... 77J4
Am Sumatra 30
Am Tel & Tel 108
Am Tobacco 115
Am Tobacco B 133 Vt
Am Watervvks C pf. 181A
Am Woolen !.
m Woolen pf 9H
Am WrltlnK Paper pf. '-'3
Anaconda Copper .... 40H
Asse Pry Goods 1st pf Ct
Asfe Ull 8Ji
Atlantic Kruit 3H
Atch Tep & Santa re. 80
Atlanta Blr & Atlantic 1J
Atl CJulf & W I S S... 30H
At! Gulf & W I S S pf 24Vj
Atlantic Pet . ... 21
Baldwin locomotive . 8'i
Baldwin I.ec- pf . . . -
Baltimore & Ohie 37
Bethlehem Steel B ... 3t
Beeth Fisheries ... 4',
Brkl.Mi U T ctfs of dep 5
Hruns Term 3
B'jrnB Bres HI'.
Butte i'eppr & Zinc . 4
Cadde Central O & R. 14Ji
Cal Zinc & Lead 1
California Petroleum. 42Ji
Canadian Pacific 11214
i'.-ife J I Ai
Central Leather 20Jj
Central Leather pf . . . C3J4
Cerre-de-Pasco 3U
Chandler Meters 4S
Chicago & Gt West.. 0M
Chi & Gr West pf . . . t.
Chi Mil & St P 33i
Chi Mil & St P pf . . 37J.
Chi & Northwestern.. 67
Cil R I & Pac 33
Chi R I & rac 6re pf. OBJi
Chile Copper Ht
Chlne Copper 25'i
Cluett Peabedj 43J
Coca-Cela 30'
Colerado Fuel & Iren 24
Coluin Gas Ulec ... t'l
Celum Grapbophene. . 4
Cel Graphopnene pf . . 14'fc
Consolidated DIs Ins.. 3
Coneltdated Textiles. 16
Continental Insurance 00'
Cern Products Ref... 81?
Cern Products Rf pf 108
11:30 Nat
I-eir P. M. Ch.
48 48-1
1. "I.- H
2U 20 T4
4. 40 4
af BD-.L A
en 7 "WT
ai 31H !4
MH J4- 14
3tt-
85 u- H
130 4- 1.
ft -J- K
t. li- 14
S3 3Vi-'r 1.
aaj4 ss',4- H
ej. 114- 'A
i -r 1
37 -74i-
34
83
535.-
77-
351. -
108 -
133(4-
133J.-
88H Hi
33
40 - U
t
-BH-f-
3W4-
88
14
4S
37
74 U
34i
83
53 V4
77 U
355.
108
12314
133 V.
17'.
7434
88H
33
40
60
88H
9
85 V.
1
30
s
V
14
14
1
14
14
'4
1
lKeriw-
aOJi 30 H"
34 34 -
21 21Hi-
21
881-
07
3f',4
83H
4U
4!
3
110!a
4i
13',.
4
4?K
111
3H
38
01',.
20 1 ',
44
en
15'i
23 V,
38 !4
Ve
3Hi
061.
115;
3511
8011
7 '4 -
37 -
53 V,
ti
5 -:
3 -
118 W -
13!.
4 43
1131. r
34 .
2W-
63Kf
30(4
45
e-
151.-
33 :
37 V.-:-
iii t 1
33 i 1(4
'l4
1
14
14
14
Ji
Dtv.
Bales In I rtlh
80 8.80 Lehigh Valley 4V
184 19 Iilrrett ft Myers 150V.
Leewe Ce 1SH
13 Lerlllard Tobacco ....144
, . Manatl Sugar 284
.. Market St Rwy 3H
.. Marlln Oil 34.
Marlln-Parry 15 V4
8 May Dcpt Stores 85V.
IS Mexican Petroleum . .108!i
3 Miami Copper 23 K
80 Mlddle States Cerp... 18)4
.. Mldvale Steel 23 J4
.. Minn & St Leuis 7V.
.. Me Kansas & Texas.. IV.
.. Missouri Pacific 19 K
.. Me Pacific pf 43V4
.. Montgomery Ward ... 10 V4
.. National Acme 13V.
.. Nat Cleak & Suit 2SV
7 Nat Cleak & Suit pf . . 00
6 Nat Knam & S 41
.. Nev Cen Copper 1214
8 N O Tex & Mex 58V4
8 New Yerk Central.... 71 J4
.. New Yerk C & St L.. 55 V4
.. New Yerk NMI & H.. 13 M
7 Norfolk & Western... 04V
0 North American ctfs.. 40 J,
8 North Am ctfs pf . . . . 37
7 Northern Pacific 3?4
8 Neva Scotia S & C. . . . 23
.. Okla Pred ft Ref 2
. . Ontario Silver Mining 4
2 Orpheum Circuit 18J4
.. Otis Steel &!4
2 Owens Bettllnfr 20
.. Pac flc Devcl Cerp.... 10
.. Pacific Gas ft Elec. .. . 00V4
.. Pacific Mall PV4
.. Pacific OH 45V4,
0 Pan-Amer Petrel .... 45 V
0 Pan-Amer B 43
.. Panhandle 12
2 Pennsylvania R R. . . . 35H
.. Penn Seaboard Steel.. 10 V4
.. Peeples Gas Chicago. . 83
.. Perc Marquatte 18V.
3 Phllailelph'n. Ce 30
.. Phillips-Jenes 73
.. Phillips Pet 20
.. Plerce-Arrevv Moter .. 10V4
i'ierce-rtrrew mei pi. it't
68 V. ;
II 4 .
3314- 14
43 43jt- 'A
385. 39 1
24 24 - V.
Ol ss. 04
3ss.
14!.
10
90 1 J
81
107
32 -2
14
Cesdcn ft Ce 33
Cruc hie Steel C3!
Cuban Am Sugar 14!.
Cutian Can Sugar... 7 !4
Cuban Cane Sugar pf 1" 1
Davisen Chemical . . . 40i 38
Delaware & Hudsen.. 101 let
Del Lack ft Western.. 106! 3 106
Klk Hern Ceal ... 10 1
rmorqen.nrantlnar nf. IS 17
Hndlcott-Jehnson C9' t0J4
Erie 12U 13
i:rl- 2d pf 1314 13i
Kamein l'laven L.... f3V C2'4
Famous Plavers L pf .8!. 7t!
Federal Mln & Smlt pf 35 23
Fisher Bedy of O pf . 67(e !
Flsk Rubber 10 10
Gasten Wrr.s & Wig.. ! 'a
General Asphalt 58 37
General Clcctrlc 130 131
General Meters 1
Gen Meters deb Ce . 61 01
Gen Moter dtb "' "2 7'!
Goedrich B F 32 52'2
Goedr.eli K T p . 73 73
lirav Lmv'is . . . 10! 10K
Great Nerthei-n pf .. 70 CB
Great North ure ctts. 30!. 3'j
Haik-11 . Barkei Car 70 68
Hndee Mfg Ce 14'? 14'j
Housten Oil SO'i 77!.
Hupp Jloten ar H1 H'i
Illinois Central 6 86'4
Inspiration Cen Cep.. 33 38
In' Harvester new. .. . 77 76Jj
Irt Mer Marine .... 10 10
Int Mer Marine pf 4S 46!.
International Nickel.. 13' 13
Int.rnatlenal Paptr . . 55' 34
Intr Paper pf stpd. . . "1 71
ln'inelble Oil Cerp.. 114 H'i
Uai-.d Oil ': 3's
Jewel Tea " l(,3
Jenes Bres Tea 20'. 26'
Kansas City Southern 24'. 23.
Kansas Clt Se pf ... 59 30
Kansas & Gulf Ce 7'8 'i
K-llv-Springfild Tire. 42 41 'j
Ktnnecett Copper .... 22 23
Kestene T ft n 10 10
Kriege S S 96 '
Laekawanna Steel ... SO'-i 39!
Lee Rubber Tire '-.SU 2S
Hi
!!
'a
l.i
34.- "l.
14',- 1J.
.- 11
16 - (4
oe!i- U
81 - !.
108 - 1
33-
3!i
14'i t-
7!4-
17
42U-!- 1
101
106 J. 4. !J
10 iy2
17-3
00!.-
I2!4i
1314
03'.
781.
25 ;- 1
. I .
; t -, 7
lt.-
'
9
13) -
la
r,i-
sa
480
180
190
1500
180
100
33000
480
3500
190
100
360
1300
3308
100
300
160
160
190
100
160
3610
190
560
300
900
1300
5700
100
' 100
100
100
100
400
400
300
800
30600
3000
100
3000
3000
SOO
400
100
390
100
300
3000
1100
300
310
401
160
100
300
1660
100
2300
300
300
3100
600
300
4200
.. Pierce Oil 7
6 Pitts Ceal 60
.. Pitts ft West Va 33
6 Pitts ft West Va pf . . . 74
. . Pressed Steel Car. ... 60
4 Tubllc Serv. of N. J... 63
8 Pullman 10014
.. Punta Alegre Sugar.. 27 V
t Pure Oil 33J4
3.41 Rand Mines 33 !4
.. Ray Cen Copper 13V4
-. Reading 70V4
.. Republic Iren ft Steel. 48V4
7 Repub Iren ft Steel tf 78
Republic Meters 8V$
6300 5.20 Royal Curch Amcr.
!
tee
310
100
400
100
100
100
300
300
310
100
1400
16000
3700
700
100
100
200
7900
3100
400
5025
3100
1700
45
500
1300
8600
300
107C0
20C 0
33
400
St Jeseph Lead. .
St Leuis San Fran. . . .
St Leuis San Fran pf.
St Leu s ft S W R R. .
Santa Cecelia Sugar. .
Savage Arms
Saxen Moter
Sears-Roebuck
Sears-Roebuck pf . . .
Senec Cen Cern ....
Shat tuck Arizona Cerp
Shell Transport
Sinclair OH
Southern Pacific
Southern Rail
Standard OH of Calif.
Stand Oil of N J pf..
Stwart Warner Speed
Studcbaker
Submarine Beat Cerp.
Superior Oil Cerp. .. .
Texas Ce
Texas ft Pacific
Texas ft Puc C & O..
Texas Pnc Land Trust3C0
45
13
23
35
23
.
H) 'i
2
f7
03
19
!'.
33
33
78
ie4
70
108
31
74
4
7
41
23J4
37!.
Third Ave 14 JJ
6 Tobacco Products .... "3
.. Transcontinental Oil . 0',.
R Vnlen Bag & Paper 60
.. Union Oil 23
in I'n'en Pac fin 119
7 United Cigar Stores ptl03
United Drug C3Ta
, loe s. se United Drug 1st pf.
1
'4
'
32'.
73 10!4
70 '
30'.
CJa '
14'
u',. -.
"'4
96-4 .
35
77 ;
10
47
54!.-:- 1
71 i
.1 s,
3'4-r
II
'-C'i-
24!.-;
40
7!.
42
-. .
10
166 MU-
38!s-
til
s
- 14
" 1
J4
1
'4
100
.';ie
el"n
ICO
ISim
12000
1..10
3100
400
2100
4C0
700
300
100
100
200
100
1600
300
20)
40e
800
390
300
200
1160
103
500
100
. 39
3 united ITU.l inn
. United Rwy Invtst pf 21',.
0 l niteil Retail Stores.
. V S C 1 P ft Fdy
Feed Products.. .
S Ind Alcohol
U S Realty ft Imp...
33
14
13
47
56 54
S Rubber 50
BUS Rubber 1st pf . . . . 87
SI'S Steel 79
7 U S Steel pf 110
2 Utah Copper 53
. Vanadium Cerp 31 JJ
7 Van Raalte 1st pf.... 78
6 Va Iren Ceal Coke. . 83.
. Vlaudeu Inc 8
. Wabash 7
. Wabash pf A 20 !4
. Western Maryland ... 0
West Maryland 2d pf. 16 H
Western Pacific '.'0
; Western Union Tel... 84V.
4 Westlngheuse U ft M.45
Wheeling ft L E 7Ji
. Wheeling ft L E pr. . . 15
.. White Oil Cerp 13V4
5 Wilsen ft Ce 38
. . Willys-Overland 6
.15 Wright Aero "54
E-'-ivldend,
Lew
53 Ti
1501.
1814
1435.
38
3
23 V4
1514
85 V4
I03V4
235.
8
71.
U.
18
48J
I9V4
13
2314
60
41
13 J4
8'
7114
55J4
13 V4
84V4
4054
3054
71
23
2
4
18 '4
0!4
39
10 ',.
GO 14
8
43(4
44 "2
4314
12! a
33!',
10
53' i
18'j
30'
73
35.
15'.
36'.
7
60Vi
23
74
re
61
991.
3754
33
32
13'i
68
47 54
78
6 '4
44
13
.10
35
31
ie;
2
7
05
19
8 54
33
V2
76
19
79
108
34
73
3
7
40'.
21
te
285
14
63 !i
0
C6
32
iiri;
1C3
62
30
111
20
52
14
13
45'.
64(
49
87 V.
78
IIC'4
63
3014
78
83 1.
8
10'2
8
is;;
30
84
43 54
7
15
12
30
6
714
11:80 Net
P. M. Ch.
54
150V4- H4
1314 - 14
144 - 5.
26-
52
34V4 14
15 Hi
85V4- 14
13- 114
23 . .
18 ..
2354- !
754-
154t 14
1014 J
4354 v 114
1954 14
13- 54
235. - (4
69 - Jl
41
12 U
!
53 4 A
13
04 54-
40 ji ;-
37 -5
72
23 -
3
4 -
i8 ;
954 39 -10
6054
8 -45V4
1354
3554 i
1054 1
52 f
1SV4 1
30 V. -
73 -
2954- 14
15V4- 54
36 14
7
60- Vt
23 r Vt
74
60-2
62 354
100 r 14
2754- a
33', - 14
2214 U4
1!"4
69 1V4
47- 'J
78 '.
OTi-44-12
22
.15 --
54
14
14
1
14
14
1
54
14
'
14
4
m
154
10
2
67
05
10
814
53
22
77
18 54
711
108
34
74
3
7
40
23
25 14
JC0
14
63
e'4
66
5..I4
119
1C.I
f2!4
39
111
21 !4
62
13
4714
55'. 49
87 -78-110'4-53-
3i; 4
78
8T.
8
10-8-
16 '
20
84'.
45!,-7-
15 -
13 -
36
6
7!4
-
- 1
:
-
-
-
- 14
;-
- '14
-;
-t ,
-5 35
n
- 14
- 1
r 1
: 3
- 1
14
- 114
T 114
Hi
n
US
!4
V,
i
!4
4
V,
1
14
Philadelphia Stocks
1 15
77
H eh
f) Am Htfs. 77
15 Am Uviys
nref.... 19", 111-"1. Iin,
OOtAtehsn StPs fp'-Vt MIJs
jfiTAm Sugar ."'J "- ''-,
ll'MitAtlnn IM lilt -I'a I'j
ltA T & Tl0SH)Si KIM.
Net
i.ixe
l.
1 .",000 Virtery -1 "4 s '2;i 00 . 50 ,
300000 Victory -ia4s '23 lets Oil . 30
liOOO Alaska O M Cs 12
1 1000 Hell Telephone " 10U
"s
S4
1000 Lehiah Vallev gen 4a 7'l
4000 rinla Klcctrlc lrtt Ca..lets 87-i
1000 Phlla Electric 1st eh S7Th
."00 Phila Electric 1st 5s. . . . 80
Commodity Markets
1
f mix row tuinrei. n j (-
Lehigh Valley R. R.
1st 45, 1948
MORLEY, WOOD & CO.
333 Chestnut Street
Memlier N . .1 I'lilln. stork r.jrli'..
I WILL SELL
700 klmrr 111 DUO IMTU) TlHi: (bid!
wanted) 1
1100 aluirri. PKriMOIIN men Meikl
WM. II. FAUST
l.nnil Title lllilir
Fliruie 737V7370 riilliuleliilil.i, I' 1.
C. S. PATTON & CO.
3D i CHESTNUT NTS.
BANKERS
Mifrrmntrn te
8AII-KII & srKVKN&OV
Uend unit Stock heunht nnj old
Here te help business
Cern Exchange Nat. Bank
Th' dirndl retort of 1-meus 1'iaveru ( a
iMidlar Corpenalon for ih ea enrl-d Au
fust J7 HhewH rreflts from th corpeiation
vnt .ts eubs 'ItarleM after reeerveft nnd de
ere tiiMer a' 8iU i8f' Hi remcaretl with
IH01.1IS7 m tn previous ir
' r-sr,idarel 'n'em- ur eint of the Ten
peHee rep;,Mr ,T'ii ' h m1 a i erijratlrn
jlnilt.u ' ihe N'-'v V .rk "iiecli HMhann
'-1 t Ve r rfh nn nTl.H endKl Aviffuit III
h m n ' profit .i'',' I Arge ami Inventor
djuhimems uf HI.-IS'i
P. r Inn' m ui- r' f f utl ns flrt
. An n. A. 1 ' f ii te) - tre 1J3 547
erf .Btunpt l.'li 137 1. jar Afi
'II n-emlrsii 0 'it IUrlnnl C T' ter. of
Nieli te Term n vhe ew Vrj-k I'otten
V. h.nff has I eir f 1 '1 10 I ?it Andersen
fj' J.0,0"f T- 1 npi-enia a dei-llne of
$1.10') ('jm tie lat previous eale.
r vn t haKi Il.ai'1 of Trnrle n.enrher.ihips
tvt been eel I for ICSinu .ai.h. off J1U0 from
1 , t p e ijus iAles .
V.'en fl Ieim lei'lirv 'he flist ti ree heK
r( m it, uer.- 7. Jli f-arn HKairm .'i7H7 a
year ac nnl cennflirtf In- frelKht J'W'
ik. init 301'
Ne Change In Raw Sugar
Nfn Irk "it J7 Tn, raw nijtar Is un
,)ianj;iit it 2'a cents ciat an 1 feicht for
1 jets e Hie te -. 11 "-ii'i iiu- pnll hales
40 eijii te r.O uiai Ijuks f I'uOim by th
Jusar Klnati'i i ernmlttee ' tin above prl es
e e "al i' finer nr" rep rt,d Ha.eH of un
fenirniiel run" e jestertlij inrlmle .'.Ofie huni
I'hil pplnee due N iveniher I at 4 I trt renti
If nl -7IKI fins riilll-ipiil' h tu. th
mlil'l e hi n-xt 1 enth t thu earne prl' m (0
Je hi rrftn. re Impei tit)' ni- veurlj l
lU'l-! "lllln I .m- ''uhiK ' ' riHlKtierl t, in
VVariir ui-rai H flnlnu- I'nmpan) Th le'al
retlne'i market Is unt tiaimeil bvth as te ten
fllllens and prices
French Bank Statement
I'nrli. '"t -7 Tin wteklv stateinent of
th. Hank of IVanm fhewu the fil.eum
hanses (ield In hand lnire,ii(iil imieiO
frarcs silver In hand Increased ,1411 nfie
notes Iti 1 Irculatlen decreased 2.12.:i:t 000
treis,ur deiies t InTianed J2 "T7 OH k-etv
erHl iItiesIIh dn reave 1' .'3 2n . Mils illceunte 1
un rem d 71 OH I 00(1 tdvance drireamd 1',
,141 I11IO advances te th" Mate qi eunte,J tj
'.'no 000 OOO
BAR SILVER
nr silver was id higher In Londen teda
at 40d,
hj- U
l!l!ls Ts
1 - u
;;;; ,i.s vs
1071'10S -M
J'j
14 -3
4
IdOtOu I.eth lj
I'll, ile prei. 01 ''s
10('lian.Mtr H'1,
arit'eKJr'iiU I
lO.Ciiicible. (U'll
iDiCnsden. . !'
14.- Elec Str. 10
'.'.-: Erie .... II7-,
0:i Fr'kf il &
Seuth'k.207 207 20i
lOtKnm I'lay K-S-1S " "
1D (Jen Asph 3S !h
H.-.-fGen Mtra 10
1 1 tCit North
liref 70r'
.-.11. Int Paper ."HU
1.-, 1 Ce N A 2D'
lnrK t4 .Se . 2t-'s
11"
V'fi
70-
r.:i' s
JI)
2i
U'k.
.-.Sift 1
0T
h"
Utsi Luke 'il ':.
L!sll Le 1 N al . .)-"
(I'M
70 J, -4- av
r.38 U
211 Vs ,-'
22(, Bs
(i3i
."i4
104
Iii.Mpv Pet.l04'M 104
70t.M Stii Oil l-ir's Wj 1-J'i-
.?
N
1
Ui 44-i u 1
l.r)' 3,"i'.'-f as
(.(itMidvale. -.i'N -' 'ii '4
WV. 40-i 4(,vt 404- U
l.-ter l'ac. "lis 71', "i'' !'
lOtl'nrf;&B10' '-0's ;ebh J
:.((', I'ai-Oil.. U's 13''s 418-t- V8
2. 1 1 'an -A m
I 'ct . .
2(:: IM It It
JD.l'Sl'llb'll
Steel . . .
llllltl'llM'eHl M)
(j I'lilla t'e
1 u in if
,V) I'liileHlei'
1.71 ile pref..
1!) I'lnlaTrae
L'.-tl'ierce-A
JOtlt Uiitcli.
'jiiiiS.Hi I'ai'
L'OfStuililikr.
odd Ttnie Itel
ldtTl'XBS '"
KltTlile W
Oil .. 1.-0',
Idtrnlen Oil 22TH
12 I G I... 3." '4
KlfWe'sfK'fcc
Illee ... 4-u
tset change mad b romparlsen with last
sale en New Yerk Meck Exchange.
I'llll.ADKI.rillA IKIND.S
-SUM Libert LM 4'4k '12 02.40
2dlld Libiiu M 4'S '47 113.32
J.-IKI Llbertv 3il 1'is '2S reg.. 01.04
IH Ml Libertv Ith I'.h '.1ft.... 02.82
10000 ietnrj PH '23 . .. 00.48
10
32";
22' i
2ai
Til
1.VI,
45
77
741-j
WT.
Id
(!0's
22's
20 vi
54
IS s
1.-
7(l's
74',.
1A
t0"H
10 ..
00- i- Ji
32;-
2,4.
20.
Til .
1.')s.
-1
1,2,
71''j Ji
10th Vn
l.r)0i(,-f Vh
22 ',s 22 Vi
.!3 33 Vi..
4,-U 45U Vi
l.'.O
GRAIN MARKET
Chicago, Oct. 27. The wbeut mar
ket vvus weuk most et tbe eessien en
selling Inspired by bearish foreign news.
Shortly before midday, a report of an
elevator fire at Montreal started short
covering, and then the announcement
that n local miller hed bought the en
tire nteck of red winter in the city,
amounting te 330,000 bushels, smee the
close yesterday, further htrengthened
the muikct an deaused a rally. The
bulge brought out offerings and a ie
aftlun hct in. Cash wheat piernuims
were dim. Shipping sales tvere 300v,
biihhels.
The corn market followed wheat
Trade was featureless. Cash (ern is
new Felling at a premium owing te
light receipts. Shlpplnz bales were 30,
000 bushels. .
Oats were dull and influenced b the
action in ether gralnB. Cash eats were
strong with Ne. 3, whites. V' te le
better than vestenlay. Shippinj sales
were 00,000 buslie.le.
COTTON MARKET
New Yetli, Oct. 27. The fettnr,
market was under further selling prcs
sure this morning and at the start
showed a partial 0-point net decline,
followed later by losses which Increased
the net break te about IS points. The
unsettled railroad labor situation, with
peer cables, Wall Street and New Or
leans selling, caused most of the earlj
weakness here. The buying wns for
Japanese and trade account. There also
was local covering. I'rlccH at the end
of the first fifteen minutes vers 4 or
5 points up from tne lowest
l 1 w uua
tr.incra were mere inclined te pay some
attention te the strength recently noted
In ihe primary markets, where cost and
freight firm offers have been averaging
hlpher for kemit .lntci nriLl n.l 1)IA Au
change en Londen firming up.
Receipts at the ports for the day arc
estimated ut 30,000 bales, agaitiet 42.
214 bales a week age, 33,10!) bales a
year age and 30,281 bales two years
age.
Late in the forenoon theie was n
lally of about 10 points which sent
December te 7.50e and March te 7.7.'e.
cr 13 tj 14 points net higl.i'i. Trade
interests and brekeis connected with
one or two prominent importing houses
were the principal buyein. This led te a
belief that some favotnble develop
ments in llra.il had been privately 10
ported te certain trade interests here.
. Yest close Open
December T.a7 7.40 & 4"
Mrch 7.11163 7 ilR(lii
-Vay 7.7t 771l$8J
jLly .. .. 7)0 7 00 US
BANK CLEARINGS
Ban!: clearings tedav cuniiiared with ci ci
respendins day I1.1t tvve veari.
11)21 !"(! 1010
Tk.$3C0 ODD neil J77M.SS.1 240 I0ns.48.1.noe
llosten . 45.000,000 fll.e7h.H20 01,40.1 .187
fhlcaKO 7M 2011 odd H.1.811 oie
lialtlineie 11.08U 70S 10.01O.4II4
CURB OILS SHOW
TENDENCYTO SAG
Market Movements Net Ex
tensive and -Few Changes
Are Recorded
New Yerk, Oct. 27. During the
greater part of the day stocks en the
New Yerk Curb moved In sympathy
with these en the New Yerk Stock Ex
change. During the first hour mdny of
the active issues en tlie Curb sustained
sonic degree of less. In the later trad
ing, however, especially after railroad
stocks advanced en the big beard, a
better tone wns shown. Anether up
ward movement was In progress in the
afternoon. Movements, however, were
net extensive, and there were very few
changes of importance recorded as a
result of the day's operations.
Glen Alden Ceal was strong because
of continued reports thnt application
will be made seen te list the stock en
the New Yerk Stock Jlxchenge. Gold Geld
wyn Pictures advanced te n new high
price en the present movement. Gil
lette Safety Itujier continued strong at
177 te 177Vi. Hums Brethers, 1J, wtw
(Ulct. Lincoln Meters, A, wns weak,
registering a less of 3 points from yes
terdays high price, at 7. Sweets' Com Cem
pnny of America was In supply nnd
showed a fractional less early.
Oil slecks were fairly well held, but
some of the low-priced issues developed
n reactionary tendency and sold off.
Among these were Gillllnnd Oil. Mnr Mnr
acalbe and Skclly. Sapulpa Hefinlng
sold at i nnd Kjnn Consolidated at
(IVs. Angle-American Oil rnnged from
171-', te IS.
Sfmms Petroleum nnd Klk Itasln nor?
without special change in their trading
position. International Petroleum sold
at 11 and 14-14 .
INDUSTRIALS
H'fth
. 0..
11 Vj
er Tub cejp 12 J J'JW ja't
Ires 20V4 SOvi KOH
a. Crushed Krult. i 0J
Ce pre! 10IJ. 10JH 104H
Hm-ember
January '
Marcn ...
My . ..
July ....
Clese Open
18 78 18 70
1 00
T' M
ID (12
IS 05
in .vn 1 1. it
18 40 is an 18 us
17 97 17 03 18 10
17.50 17 B'J
NEW YORK COFFEE MARKET
New Yerh, Oct. 27. The reffec fu
tures market took a turn for the better
thld morning and advanced 3 te 0 point
at the slnrt. There was evidence that
the market had been selling tee low and
Acme Ceal . . .
Amer Leather
Ilrlt Amer Tub cejp
Hums lires
Callinrnm
f-Allelrtli, lf nr.
Columbia llmerald IJs
Continental Moter . ... j'
Umersen Pheno ..
Olbsen Hewell M'
dim Alden Ceal 42"
ileldwyn Pictures n
umeue a u w-4
Inter Itubbcr 7'a
Lew
80..
.WJ4
1.30
P. M.
00..
j'j'T
1N
.'.Vi
75
14n
41
.-ti
177 .
"n"
i'
34
j'i
i
33
1.
1',
us'
0.1
n'i
0'J
31
I.lneelt Meters A
una iret !.
National Leather . '!'
Perfection Tire 0J
nadle Cem
rtudle Cem prcf . . .
II J Iteynelds (new)
southern C & I . .
Svveets Ce ... ....
L'SHH..
C K Steam ... .
United Profit Siharltis
Wet 1'nd Chem
Texas Cult Sulp.li
HTANDAKII OII.M
Annle-Amer Oil . . ..18 17'i
Atlantic Lehes . . U' 10"
KureKu PL... .87 87
stand 0 1 of Ind . ... 70 78'
IN11KPENDKNT OILS
Amer l'uel
Heene oil
Bosten iv'semlnsr . . . .
Cnrlb Snd
Cities service (old)..
I'ltlen Scrvlce "il" itfs..
Cities Snrvlce prcf . . .
Kdmundi
Ell: iali Pet
Kniineer Petrel . , .
Federal Oil
lns'anil
Cllllltand Oil
Olenrecll Oil
Dranmla 3
Int Petrel
Kevetone Itanser
I.iv ncsten
I. sons Tet ....
MnKm.i Oil
Maracnlbe Oil . .
Merrltt Oil . . . .
Vlerldan Pet
Mexico Oil . . ..
National Oil N J
llvans Cens
Sipulpa Uef ....
Slmnw Pet
Sknlly Oil .
Southern P i. Jl .
Texas Uaneer . .
Texei v. .
rucl.cnej
1&4
7fl
14
i-i
II
I
OS
;
a
JM,
l't
34
2'
a', av
1 1
SU 33
In 1.
li l'l
2S 2S
. 40 40
. 20 '.Ml
. SO SO
5 0
.18J ISO
. '.'D l4
. 33 5R
'r" 'l
II'. (IS
34 31
. Is 111
. Hi II '
. 1 ,'. 1J
. 34 a4
. 14t 14
. 1' IVi
Vlrierla Oil new
V ' Oil
MINIM?
Musk.T Hr Columbia . . .
DIk Ia-Aki
Ilobten i Mentana . . . .
Copper Cnnven
Cens. Cen Mlnlncr
Cortex Silver
Treason (.old
KurekA Croesus
(lo'dflelil Plerence
Held Zone
Knox Divide
La Rese MtnlnE . .
MarXamara
Mether Lsde Clt . . .
Mether Ixid new .
Nutlei'il Tin
Nevada Opltlr ...
S'lplssInK . .
Pitts Jit Shasta .
Se Am J A O . . . .
West End Cen
Yuken Geld
HON I)S
Allied Packer fis . . . .
Amer Tel lis 1B22 .
Anaconda 6a
Anncenda 7a lll.'O.
Anule-Anier OH 7'ne
Ilelh Steel 7a 1(135.. .
Cel Graph 8a . . .
Cens Gas 7s Ralto
Copper Lxpert 8s 10JI
Copper Expert bs 1UJ.1
Cuban Tel 74 a
Goedrich Tire 7s . . .
Llbbj McNeill 7s
Otis Steel 8
Ph'la Ce Ot
N T S Hi H li
Seneca Cep 8a ... .
Seam Tleebuclt 7a 11)23
Shaw sheen 7 . ...
heuthvvest Pell 7n
Stand Oil N Y 7 1030 .
Standard Oil Jf Y OS a
Swift & Ce 7s 102.1 ..
Swift & Ce 7s 1031
Texas Ce 7fl .
Vai'utm 7s .
hvv Iin 5Vx ti . ...
8J
l.
23 It
10
7
14
2
'.
4
Si
n,
a i
.1
Ml
KB
r.e
81
82
10
7
1A
5;:
8H
5
H
r.e
711
no
8J
17'.
104
87
78'.
40
2(1
80
n
180
211
.).-.
I'd
1
38
J
4H
M8
14
23",
10I
1i
ml
4
8i
n'4
3
3
.-1
7n
r.e
S3
40
:ir
1)8
14
1
1T.
Ill
411
1J
s
23
10
34
l'i
1'.
b.'
un
44
40
12
8
sn
40
3(
en
i'i
t'.
82
41
40
12
8
34 Til, 3V,
s, at. si
r,n no no
30 30 311
R'. 3'i Mi
30 I'll 30
3 3
100 1)7 OH
1'j l't l'j
4ni 4S tnv,
00', 01)', 00'
fl.'S 0J3 OJH
07t; 07 074
Ui2, 102, 102S
Oslj 1)8', 08'i
I4'i 44i; I4I
U7a4 074 07
101', 101', 101',
102'i 102'i 10L-V4
OS'a 11.'.', isu
li5i 03V, 3
l'7't 07'. 07'i
08 118 OS
88 t 885t 88S
no r, no
10 103 101
oe'i 00
ORv-i Of, 08,
09', oev, 00
1044 1114'j 104H
103 102'i 10.",
loe', me loev,
101 101 101
101 101 101
108', 108', ie.it,
03',4 03'4 034
MONEY-LENDING RATES
NEW YOIIK Meney en call both classes
of collateral, eptned today at Bl, per cent
for lendlnic and renewlnir.
PHILADKI-rniA Call per cent: time
34i) per cent. remmerLial papet, three te
tlx menthf. 6T4 U per cent.
I.DNnOV Menev I, quoted at i; per cent
Discount rates Sheit hills a, per cent
three month,' lillla 3", Hl per cent
Liverpool Cotten
I.lirrpoel, Oct. 2, There was a cned
Irqulry for spot cotton today nith prices
rnaler en the batls of a decline of 4il points
for middling; at 12 1BJ iale, vvoVeoo
bales llecelpts were 1000 bales Includlnir
100 bales American Futures u.rc " ?.aSy
In the early dealings Spot prices were'
American mlddllnu fair. 14 80d. uoed mid!
dllnif 13 00rt fully mliMllnif? 2 3d Sd
dlinir. 1.' 13d. low mlddlliiK, 10 r.-,d ioej
erdlnan I) OOd and ordinary 8.0U1.
Bank of England Statement
..I'OIn.(l0li, Cil,T.aT , T!"' JVMkl "latetnent of
the Dank of England shows the following
chanees. Total reterve decreased (233.000
circulation Increaeed 232 OOO bullion de
creayed 3534. ether securities decreased
t4.3l3.OO0 ether depetlts Increased CLBOll.
OOO. publle deposits decreated tl 1'nO 000
rotes reserve detrcated 232 000 Govern Gevern
ment securities Increased 7.800.000 The
PI?po.rtle.n ?f 'hi hank's reserve te liability
this week s 13U Ufr cent Ja5t W(,ek"rt
was IS (il per cent
Prices Improve en Paris Bourse
I'nrU, Out 27 -Prices Improved nn the
Deurse today, Three per it.nl renls. (S3f Hr.c:
exenanre oil mnilen, 31f 20t fj tier rem
ijjr nc The dollar was quoted at
FOREIGN EXCHANGE
New Yerk, Oct. 27. The foreign ex
change market opened weak this morn mern
inp, marks showing a less of 34 points
from jesterday's closing. Other net
losses were ty cent in sterling, 3 iieints
In francs, 31 in Rclginns, 2 in lire, 5
in pesetas, 10 in Norway and Den
mark, 8 in SwediBh and 2 In guilder
exchange. Swiss was an exception,
showing a net improvement of -1 points.
The quotations were :
Sterling cnblci .'! !).'3; , demand
.'!.!).'!'( ; tranc rabies 7.2S, 1 hecks 7.27;
lire cables .'t.OKVii. checks .JIKl; Hvvlsi
enlileic IK !' r-hpckii IN. Ill . ,.:i.!..
liles aiO.'i, checks .'4,00 j peseta cables
l.'l "'7. rlieeka 1.'l.2."i; Ht.. Ll.m ,.ni,lt
2.'5.07, checks 2,'5.02; Christlania cables
1.1. .'(i, checks Jil.iti. Lepenliagen cables
10.20, checks 111.1.1; llelglan cables
7.1,1, checks 7.12; marks .07' i.
In the second hour the market in
most (ass was heavy te weak. Ktrrliiig
c ibles vere !l.l.T1i, demund Il.Sia'. 1
finnc cables 7.2fl1., cheeks 7.ii . ;
Helgiau cables 7.1.', cheeks 7.12; lilc
cables .1.(14, checks .J.!!.'!'.; mml .,".
The (.'entrnl nurepean exclnnges
were eeneraily .tendy, as fellows, Hu
inaiiian .IIS ; llulgarlan .08 ; .Serbian
l.:ill; Czecho-Slevaklan l.O.'l; .Jugi,.
Slalan .III; Greek 4.47; l'elish merk-i
.02(1.1; Finn marks 1..18; Aiibtrian
.05V..; Hungarian .1394.
The premium en Niw Yerk funds in
Montreal today was a shade higher at
S per cent. Tin discount en Cnna
(linn funds in New Yeik was elighth
firmer at 8 5-:i2 per H'lit, making Can'
ndlan dollar. .01 !! .1 cents, against 02
tents yesterdii.
YBSrunDAT.S I'lNAI. QUOTATION a
Sterllnir I'ranci Lire Guilders
Demand a0.V 7 3D .1 04S 34 no
Cables . ... 8 04 7.31 3.93 iJ
TOPAY S opi:nine QUOTATIONH
Sterling Francs Lire (iullders
Demand 3 01 7 '.'7 3 03 aj (in
Cables 3.P,1'4 7.:'8 3 U8Va 34 05
lean Mf
13f 78Hc,
Gasoline Up One Cent a Gallen
I'lttMiuritli. del L'7 'Ihe Atlantic- Kelln
im- 1 ninjany teiliiy nnneumed an Incieime of
one tent a sallnn ra'h In Kasellne and Itero Itere
Mn (hrousheiit Pennsylvania. The new
prlie for tfaspllne will b 37 cents at servl.e
station and for kerosene 15 cents at stores.
, !
A Werth-WMe Selection
Must Be Based en Facts
Statistical Research is a Specialist's Problem
The Invester is best satisfied who j-enHzec'that the.
comparison of bend values, In a practical sense, is
beyond the facilities of an individual, and se accepts
the advice of these who specialize in that work.
The time involved, nnd the research work performed,
requires the undivided attention of trained statis
ticians. Fer an individual te attempt a selection
would result in a comparison of statistics, the cost
of which either in time or money would be se high
as te inake personal selection a barrier te satisfactory
investment.
Wc can tell you which of the Railroad bends return
the highest yield compatible with safety. Our do de
tailed analysis of Railroads, and their obligation,
provides conclusively the reason for our selections.
BROOKE, STOKES & CO.
Member Philadelphia Stock Exchange
140 Seuth Fifteenth Street
Philadelphia
734 Fifteenth St. N. W.
Washington
102 St'. Paul St.
Baltimore
7"
One of
TODAY'S
Investment Opportunities
Kelly-Springfield
Tire Company
8 Sinking Fund Geld Notes
Due May 15, 1931
Yielding ever 8 at the current market
Detailed information upon request.
Write or call for circular (P A-28.)
H ALSEY, STUART & CO.
INCORPO RATIO
..and Title Bldg., Philadelphia - Telephone Locust 482i
CHICAGO
DETROIT
NEW YORK
MILWAUKEE
PHILADELPHIA
MINNEAPOLIS
BOSTON
ST. LOUIS
YOUR
Credit
Position
Our business' is te examine into ,
and present in all its important
aspects, the controlling factors upon
which the credit of the business de- A
pends.
Fer the account of bankers, man
agers or security holders we have,
during the past two years, examined
into mere than 135 different kinds of
business.
iSitOiiNers '
E.Ubllthtd 1804
1421 CHESTNUT ST., PHILADELPHIA
Bell Telephene: Spruce 6082
NEW YORK SAN FRANCISCO
We recommend te investors who are interested
in buying high-grade, high-interest-bearing bends:
Cincinnati Gas & Electric Ce.
Cenrerlible 8 Secured Geld Nete, due December 1, 1922.
f'onvertlble Inte Prier Lien nnd Refunding Mortgage Ti
Held BendH, due January 1, 1061. en the basis of par for
the Notes and 97 Va for the Bends.
Allegheny Pittsburgh Ceal Ce.
Guaranteed Mortgage 20-Year 8, September IS, 1041.
United Fuel Gas Company
10-Year 7Viee Secured Geld Bends, due August 15, 1931.
West Penn Power Company
lit Mortgage 7i, due March 1, 1946.
Prices and particulars upon application.
A. B. Leach & Ce., Inc.
Investment Securities
115 Seuth Fourth Street
Philadelphia, I'a.
ACTIVE MONEY
employed in the mortgage field under our less-proof plan
enjoys three distinct advantages.
Safety
Increased Yield
Augmented Principal
General Mortgage Financing Corporation
Ilidge & Girard Avenues
Send Today for Descriptive Booklet A-10
rr