I -rI'f 'I ii. WiVUNipiJMpHiiiviiJivvTT iPPiWI',1 :i n .. i. .i. .-, iy;j MhAI 3 jrn i i Zrr 7frKTmrwrvmmmw ', .'' , v. . ' . ' , ,.), l.'l '- .'-,. . ! . i'r.J . - r, V ., .,.- T," , . 'Al. . .rv;j . ,.. ',. . U .y . - . ., t ' .. ' t " ' " ' ' -W -- " 1 IHIIIIIIII""1""" ,MM""lnmiHUIIIIUIIIIIIUIIIIHIIMIlllimIUJg fe' I EQUIPMENT BONDS s 5 We own and offer S high-grade-Equipment Bends c 5 te1 yield from 5.75 te 8.25 a - Partteulara and prices en application West Utl Walnut Street Member l'niinaciluire New Yerk Bleck Eicliance Philadelphia Stock Exchange iiiiliiiiiiiiiiiiiiiiiiiiiiiiiiiliiiiiiliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiini7. BROWN BROTHERS & CO. HatabUshed 1618 FOURTH ft CIII58TNUT STREETS- Philadelphia New Yerk TRAVELERS LETTERS OF CREDIT UNDER the lerma of issue of our Letters of Credit travelers can avail themselves of in come accruing during absence. A Century of Service BROWN, SHIPLEY & COMPANY Founder Court, J.etlibury I.ONON, K. C. LIQUID MONEY Gradually flews into losses. MORTGAGE MONEY Steadily grows into profits. Meral: Don't risk your income but insure it. General Mortgage Financing Corporation Ridge and Girard Avenues Send for Full Particulars Outlook ferWinter Business ii mu sajes pick upr II Hew about prices up or II down? I When will business turn L the corner? Babseifs Reoef ts W r w ff p . , . 1 jcvidi iaremcicrLeuer,jujt en the press, answers these questions and shows you what's ahead in the business world this winter. It is a matter of vital impor tance. With this information you can see whnt's coming and govern yourself accordingly. REPORT ON REQUEST A request en your burinew letterhead T fruiter Outlook" and a copy of mu te Afattvto"i7itheutchrije. Tear out the Memonew and hand it te your secretary when you dictate the morning's mall. tttnlj Ath for Bmtttttn 34.TD Reger W. Babson's Statistical Organization Welleiley Hills, 82, Mass. (Suburb of Bosten) TULarniOTganUUn eflu OuiretUr pMnnmm, iM Vilip vjj nCTC '. ' ftMIMttMtmiHUMIt Meme ne R?f V- Kabson. founder of The ftii?,2,St?.ti,t!calOrfnl"00"jWe!lely Hills, 82, Ma!,., as fe one rieate send J Wc Own and Offer $50,000 City of Phila. Municipal Improvement 5V4 Bends Due October 20, 1971 Price IO6V2 and Int. Te Yield About 4.70 Samuel McCreery & Ce. Member Phila. Stock Exchange lrankiin Dank Building Edward B. Smith & Ce Mil Chestnut Street Uwnbsr New fork and Pulladslpbta Stock Exchange Investment Securities Philadelphia New Yerk GEO. A. HUHN & SONS .,m. STOCKS ANM I10NHS Plembtr. of the Pfillade nhla. New l0 and Clilente stork Weuuncta ommieslen Orders Executed In Llh.riL'S" rlr"Jjpi" Markets nti rrty.,Dend Deunht and Sold "tllMrii, Court Illdt.. ifiH "vulnui ?t. Hi llraadway, Atlantlv Clly WIEGNERrROCKEY&CO certified Public AccqunUnta Orwel Bufldinff, Philadelphia !?.....' & Ce. . (12 rirondirer New Yerk City rionten .... .. .. OM'" 'or Traveler! 123 Pall Mall, LONDON. 8. w. Twenty Years Age We have prepared a Spe cial Circular of Municipal Bend offerings which illus trates the attractiveness of present interest returns in comparison with the low yields en similar issues offered by us twenty years age. Ask for Circular F-l Harris, Ferbes & Ce Pin St., Cor. William NEW YORK PHILADELPHIA OFFICE Wldener Bldg. Telephone Spruce 7040 Over 5.50 Free from All Federal Income Taxation Municipal bends of some of our im portant cities yield an income in excess of that provided by many corporation bends. Fer a recommenda tion write for our Cir cular Ne. 7343. Bonbright & Company 437 Chestnut Street Philadelphia New Yerk Bosten Chicago Detroit siiiBiiKiMiiiiiiBiiaiiian an Knew Your s Sficiiritifis S IH H Ml Keep Careful Data en Every Investment S We have prepared a booklet, tastefully bound g in leather, for your cenve- m h nience. it lits easily m tne H nnnlrel nti1 fnlna n H H j. ' i.. j t g systematized arrangement m g ter recording your neia m ings A table of incomes from g various stocks listed in the w back will serve as a valu m able reference. H .let down a memer- g andum new te call or write S for this booklet today. S Ask for L-2. 8 P. K. GUTHRIE & tO. ta IMMtKIIX AMI IIKOKKHH SMcmbeis of I'hUaileliihta Stock Lsrhaniic V IMS Se. Pcan Square, Pkilidelpela t NUITK SOO H Keystene: Uace JSJ7 B IeH Vhent: Spruce dies r-'- Ji ' r JLTF GOSSIP OF THE STREET After hovering between 04 and CO t tt 1 g me wllh W dealings, wwh Navigation within he last fort night has taken the skyward route and yesterday made n new "top" for the Kar nt 78., compared with 02, th iew marie for the ten months of the current Anne Domini. Last year the stock fell from 80 te 07 In the wide sweeping liquidating movement in the security markets. In 1000 the stock beM na hlffh ah 125A. Some students of the property nsscrt and they have figures te prove It inac tne stock Is mere vnluable today than it wns then. That, however, has " connection with the current rekin dling flame of speculative enthusiasm. Ne real explanation has yet been of fered for the revived Interest. Thcre are, of course, seme stories going around, one being the company will make a bid for the Lehigh and Wilkes Wilkes Barre coal property, which the Jcrney Central must dispose of by the reoHen of the mandate of the United States oupreme Court decision. In this connection, thcre was a sup plementary interesting story yesterday te the effect that the company might offer te swap Its railroad jirepcrty in eichange for the Jersey Central coal mines. Lehigh Navigation Is ene of the few anthracite producing nnd car rying corporations net liable te the Sherman Anti-Trust Law. It Is a large producer of hard coal and hauls a large portion of Its output en Its own read, which, however, Is regarded In the eyes of the law ob an outlet for the mlne production rather than nn Il legal combination, found against the ether big anthracite properties. Will History' Hepcat? Heretofore, nil big movements In the bend market proved te be a rollable precursor of n buoyant constructlve movement In stocks. CIobe students are keeping sharp eye te see whether history will repeat. Still Afraid of a Cerner One of the financial news bureaus yesterday stated the New Yerk Stock Exchange again had taken up the ques tion of the danger of n corner f xl Mexi can Petroleum, which fear unques tionably was prompted by the reason of the recent spectacular pyrotechnics of that versatile speculative football. It stated : "Assistant Secretary Williams, of the Stock Exchange, notified the Mexi enn Petroleum Company, 'It Is reported that the Pan-American has increased Its holdings of Mexican PctreliMim te Mich an extent that there Is net sum rlent Mexican stock outstanding te per mit liquid trading en the Stock Ex change. If such Is the case, the com cem com mlttee en the stock list would find It neccHsary te step all trading In Mexi can Petroleum.' "Mexican Petroleum officers Immedi ately telephoned that thcre was no change in the situation, se far as tnc Mexican Petroleum or the Pan -American Companies were concerned, nnd the number of shares of Mexican Petroleum held by the Pan-American Company and the Huastcca Petroleum Company was exactly as previously reported te the Stock Exchange. The company was asked te communicate this fact te the press nnd the Mexican Petroleum Company Issued the following state ment : " 'E. L. Dehcny, president of the Mexican Petroleum Company, Ltd., or Delaware, authorizes the stntcment thnt, in May and June, 3021, the Huastcca Petroleum Company, a sub sldary of the Pan-American Petro leum nnd Transport Company, acquired approximately 17,000 shares of the common stock of the Mexican Petroleum Company, and this fact wns announced publicly nt the time; and that since the date of this acquisition, neither the Pan-American, nor any of Itu Hub Hldlnrlcs, nor any of Its officers, have acquired any additional interest in Mexican Petroleum Company eteck." Will Come True Seme Day If the enormous business of the Elec tric Storage Uattcry Company keeps up and earnings pile up ns they have In the last few years, some day the lonc lenc predlcted recapitalizatien plan of the company will ceme true. Playing en the Weak Spot There 1h en old tradition that one of the easiest ways te obtain the geed will of n man Is through his btemach. This game has been played, se the story uoes, with a high degree of success by many a fair damsel te land her hesitat ing swain. It is sometimes applied te attain the success of corporate bchemes. A big deal has never been pulled off -Ight without the traditional banquet. Te get around the real point of argu ment, there was an Intcrcnting dtery going the rounds en the Street yester day that n certain entcrprUe, having "iillcd te bring a number of recalcitrant legislators into their way of thinking, hit utven the Idea of making dally trips of inspection at the various plants. The time of ench visit was fixed se as te reach the plants about the feeding hour. Se the Inspection of the various plants was preceded by a tempting luncheon. it is net siareu wnctner any hkie 'ssues were served with the menu, but It lias been discovered by the officer having charge of the Inspection party that already a mere kindly feeling Is entertained toward the company's prop prep ositions. THE TRADEIt. BUSINESS MORTALITY October Defaults Were Largest of Any Menth This Year The tendency toward Increase In failures that has marked reiciit week y 'cturiiH i.-, rellctcd In the October stntr- inptit. which discloses I7iii commercial defaults In the T'nlted States, involving $S:UV.-S,0.r0 of liabilities. In point of number, Inst menth'ii Insolvencies are 247. or 1(V.M per cent, In excess of these of September, while the October in debtedness is 510,000,000, or -13. 3 per cent, heavier than the amount reported te It. U. Dun & Ce. in the immediately 1 receding month. Aside from January, when there were 1605 failures, the number of October defaults Is the largest of any month this year, and the liabilities surpass these of all months except May, March and February. The pronounced expansion in the indebtedness laut month Is chlelly Uxnliilncd by the Increase In the Hablll- I ,,,, of 1(1PC insolvencies, which sup. piled considerably mere than one-half f the total nmeunt Involved. Thus. the slxty-one failures for $100,000 or mere in encn nisium-v uuring wcieuer ugaregated SlKl.U-lJIJJl altogether. '. whereas the seventy sucn (leiauits lu September hed nn Indebtedness of about $18,000,000. In October, last year, when all in solvencies numbered 023 for $38,011, O.IO, there wero fifty-four failures of unusual sire, with liabilities of mere than $25,500,000. At this period In 1. 1 . 1 11. 1030 the country 'e uunmi-33 murium) , In number of defaults nnd amount of indebtedness, wiih tending sharply up. wnfd, nnd cm rent statistics reveal n narrowing of the margin of Inerense ever the figures of last year. The in in helvcncics of October of the present year, however, are the largest en record for the month, numher nnd liabilities both considered. f " : I1 V a.J1 LUMBEfj TRADE DIVERSIFIED Demand Cemes Frem Ali Seotleni of the Country Prices Hardening Improvement in the lumber market is reported In the weekly review of trade for the Philadelphia district by It. O. Dun & Ce. Business Is widely diversi fied, the demand coming from nil sec tions rather than from any particular district. The bulk of business, appar ently, Is leaning toward yard trade nnd there Is net much purchasing for large construction. The retail yards are dis tributing in small lets. Prices nre hardening with continued lncrcnses en upper grades. Some items arc scorce nnd difficult te secure. Collections are still extremely slew. This cqndltlen Is expected te prevail for seme time, the, nttltude of lumber merchants being te give extended credits In order te SUrn ulate business. The review, continuing, gees en te fitiy "Some improvement is noted In the building trade. A fair amount of new operation Is under way. but general na tivity is net looked for until the spring of 1022. During the last month the costjef new contracts started was aug mented by a large public school con tract, offlce building and theatres; a few dwclllng'-heuse opcreUons have been started. The bulk qf permits Issued Is for alterations. Lecal contractors and builders are estimating en n large vol vel vol ume of proposed improvement and n number nre fairly busy. Many of these contracts, however, are nt points out side of the city. "The Iren and stcel market continues te show a gradual improvement. It Is noted that shipments from furnaces nnd orders for new tonnego are growing. Increased activity is noted In Indus trial plants, seme having increased their capacity te about CO per cent. Prices remain about stationary and the general situation would seem te lndlcate a grad ual recovery. , "The hardware line shows seme in crease In the volume ef'buslncss. Some of the Inrger houses report a fair In crease during the laht few weeks and, whlle business It general Is below the rfamc period of 1020, it Is believed that thcre will be e. steady increase during the remaining season. There has been a decrease In the prices of material, varying from 20 te 80 per cent, which has, te n certain extent, stimulated .business. Collections remain slew. "Household specialties are moving freely In the electrical trade and nn Increased demand Is noted for the various equipment In these lines. Re pal rwerk Is showing nn Increase and jobbers nnd retailers nre fairly well employed. Manufacturers report in creased capacity, but arc still running below normal. Prices are firm and col lections fair. "The stove trade Is quiet en stnple goods and continued mild weather fails te stimulate trade in this direction. Seme demand Is noted for supplemental beating apparatus, foundries are run ning nt about 00 per cent capacity, with Jobbers and retailers quiet. Prices show no material change and collections nre fair. "There is little change In the condi tion of the chemical market. The re tail drug business Is fair, but the sale of erilde drugs te manufacturers Is slew. There Is a fair demnnd for dyestuffs. Prices are about normal. "The paper market shows some Im provement. Manufacturers and Job bers rcpet that stocks, as a rule, nre low and, consequently, there hns been some increase in volume of snlcs, al though "buying is principally In small lets and for Immediate needs. There is very little dealing lu futures. tuShe trade In leaf tobacco continues quiet, there being comparatively few lnrg(; sales and dealers are net inclined te buy at prevailing high prices. There lins been a fair Inquiry or geed grades of Pcnnsylv.anlas and Cenncctlcuts, but ether grades nre moving slowly." Phila. .(Federal Reserve Bank The statement of condition of th Phila delphia Federal llenene Hunk at the cIehi of business NevcmUjr 2 compares as fol fel lows nnsQURCES Nev. 2 Oct. 21 J2.H0, 390 C3, 621.383 Held nnd cold cr- t ncates i,BJ..uu ( e I d tflttlemf nt fund, Fed. Ilescrve Beard H3. 074.010 Total (Celd held by bank .... I0S.S32.070 $05,701,773 132.312.003 7.24S,ine Oeld with Federal Reserve nKent ... 13 l.t:- 110 Oeld redemption lunu iu.iij.'.uu'j Total cold rc ercs S209.C07.305 !203.32S,2DS 7.101. C01 Legal tender notes euvcr etc ii,,yiuii.- Total reserves.. (21(1,304, 307 1212,420,803 Dills discounted, cureu dv u. u. Oevt. obllBatlenti . $07.3.r5.8fl3 108,707,122 32.117,041 S. 888.378 All ether 28.728,0170 Hills bought In open mantel .... u.isi.t.-u Total bills en hnn'd $102,308,310 1100,774,442 U. 8. bends ami notes V. B. certificates of 1.133,000 1,105,400 Indebtedness One jear certifi cates (1'lttman Act 15,750,000 1,000 io.2se.noo 1.S00 All ether Total astets . earning S110.7S3.210 1124.321.312 Hank premises . . B v. e. redemption J532.780 S532.7SU rund aBdinst fen, Reserve Dank note 700.000 49,807.011 700,000 11.773,020 451,201 Uncollected Items.. All e t n e r re sources 484,111 Total resources 38fl,0S2,00:i I3S3, 108,300 LixniMTina f'apital paid In.... $8,081,050 JS, 084, 050 17.501,127 .I.SlO.OOi) 1.127.071 08,534,1100 1,210.078 Hurplu 1T.3U4.12T Jlenervea ler uevi. trnnchlsa tax .... Depesits: ilovernmont 3,887.000 4,437.802 Member II a n 1- lles. acct All ethar 100.353,009 1.700,087 Total deposits .1100,600,800 1103,878.050 Fad Ren notes In actual circulation. 108,080, 200 $200,853,200 Fed. nem-rve Rank notes In circula tion (net liability) 0.178,000 4,007.000 Deferred available Ity Items ........ 45.074,001 12.848. 0C0 All ether liabili ties 1,110,7111 1.132,252 Total liabilities. $080, 082, 008 $383,408,300 "Ratie of total rescnes te Ueinslt and Federal Reserve note llabllltiCH combined, week of November 2. 70.8 per cent, prcleus wrek, rtO.7 nor cent Il.-tle of (told reerfs te Federal Hestrin notes In circulation after setting- usld 35 per cent aKulmu dopeilt llablllth's week i.f S'ovember 2. I'O.O per tent; preuus eel, 877 per cent Above percentaRM calculated en basis of net deposits and Federal Reserve notes In circulation. MEMORANDUM: Contingent HuMlIt" en bills purchased for foreign correspondents, week of November 2. I2.5SJ.000, previous weelt. $2,300,000, U.S. Int. Certificates and Treasury Notes Maturing Rate f8 it Date Hid Askrd Yield .100 a-lrt loot! s 70 100 11.32 100 7-10 3. no 10IH1 100 11-32 3. OS 100 It-35 1 ill) 7. in n ii Dec, 1H21 Feb., 1022 Mar.. Mar.. 1H22 :"a in J.' 1022 11122. 11122. 1022 lf'"2 1P22 1021. 11121 Mar . Apr., June Auir , Hept. Kept.. June. Sept... 1110 O.ltt 100 21-32 3 IIS I li' 1IIO I. Ill 4 00 (KK 100'i 1.00 100 13-10 100 15 10 4 20 1011 ll"'l A :il . 100'i ..102 ..10m 100'i 4.20 & 102't 4.BH 1DI. 101 3.U0 States Ask Cut In Freight Rates Washington, Nev 4 Four Western States, Kansas, Nevada. Arls na and North uaKtita. asKeu tne interstnie commerce com mission tnnay 10 tuiiuw nu ns recent oreer reducing Interstate freight rates en grain, gr.tln pruducts uml hay approximately 13 I or cent by making 11 Mmllnr reduction 'if rates within their Iwrdeis The l'ublle Util ity Commissions of lh" four Htr.tes named asserted In the ceniplnlnt thut the railroads. In 11120, Increased the rates un the commedi ties itucn upon movemenis runnncu within the State borders us uell us upon Interstate movements and that tha Intarauta reduction gew made aheuld therefer, appfy te the local Ncte Yerk Bends BALES IN S1000 Canadl'n Kthd SO 01 V4 10 43 . Otts rcta 1.... 101 7.... 105 2 00 10..... 05ft 8 88 U K Ort llrlt ft I'd 1987 1 01U 7 04tt 9 91 i 2 01 Vi 0 04ft 6 014 1 Oltt 1 01 V4 1..... 05 1 ettt a Oltt 1 Oltt 8 64 B 48 Vi 0 43 tt IU Cn 4s 'S4 10,. w. 74K Inf Met 4tts , 1 Utt int M ct 4tts 1..A. D tnib'e n t f d 0 54 tt 8..,,. 04 tt B B4tt 25..... BB I...... B5 24 BB 5..... 05 2 55 V4 I M Maxln 6a 0 8Btt IB 8BVi Kan C Ft 8 A Memp 4a 4 71tt Kelly Sprlnr'd Tlra 8a 14.... 108 3.... 108 Lack Steel '60 1 80 t, lid II un 4a 4 7lVi Chit Cep'r n 81 83 10 81U 0 83 s 8a 8 83 1 B1H City of Bergs n 8 rets 1.... 103H City nerna 8s 2.... 100H 6.... 100ft 2.... 107 2.... lOOTi 1.... 100U City of Copen hagen tm 2 83 Tt 10 83T4 1 8314 4 81 7 t 84 0 81 Cty Rie da Ja Ja nerle 8a 4 08H 1 esu 11 08U e 08U 8 DSU 0 D8V. 1 08tt 2 B8H 8 08H 1.1... 08U 0 DSH Cuban A D 8s n.... ioe 25.... 100 0.... 100U Cuban O Set 1 02 H 1 03 1 02H 2 02i,i G 0SH 13 02 Vi X3 R nrazll 8s 2. 14. 100V4 100 tt 100V4 lOQtt 100 tt 100 ft 100 tt 100 V4 a 1 'J.... 2.... 100V4 (J S Mexico 5s 8 40ft a 40ft Am'n Asr'e A Leu A N elt Bs Ch 7tti 0 08 0 08ft Am B A IUr Bs B 81 tt 1 03 Mt St RallYvar San Fran 1st B 70ft M Oil war 8s Am T & T clt 1 00Vi Mid 3 A Or 1 60tt 2 80 M SIP A B Ote U Otts rets B.... 100ft 7.... 100 10.... 100 7.... lOOtt 10.... 100 Me K A T 0 67V1 1 07 Vi 30 074 4 07V4 0 67 Amn T T Bs 1 01 B 01 Amn T & T Os 1.... 103V4 4.... 103 tj 1.... 103'i A T S Fe al 1 74 A T Q Fe 4s 10 81 A Coast li elt 3..... 71 tt C C S cv et Atlantte net's 10 00 ct Otts 1.... 103 Dalt A Ohie cv I.!... 71 1 72 12 72 4 724 10 72V4 Me Pacific 4 s Cuba It Ce Bs Ii... 10... 58 Vi 68 '4 08 Vi 584 GBtt B8V4 684 B8'4 BBtt GBtt 68tt 3 05Vi Denmark Cen ct A 8s 5.... 103 2.... 105 15. 1. 1. 10. 25. 10. 1. 1. Dem Itcp'c 5s 1 80U 10 81 Vi Rait A O 3Ws 4 80 U 1 80 0 60 Vi llatt A Ohie 41 2 74 D Canada '20 1 05 H 6 85i 1 05 Ti e m 6 01 H 28 04 D Canada '81 S 03H 1 03H Me Pae Bs 20 10 80 Mer'a Ce 4tt 2 82 tt Naahvl'e Chat A St I. Ba 1 05 tt N T Cent'! 4s 0 82 B 82 H N T Cent' I fla G 07tt G 07V4 Bait A Ohie 8a 12 70 B 75 Halt A Ohie 6s i 8 3. .. r.'.'.'.'.'. 1 n 5.!!!! r OBVi 05 Vi Gevs' t French 05tt 05V4 05 Vi 05 00 03V4 00 en R "Vis rets 10. 05 H 05 H 4... 1... 23... 1... 3... C2... 5... 10... 1... a... ie!.'.' 14... 5e!'.! 25... ni... ai... 0... 25 . . . 0... 81... 32... 10.. 1... 1... 05V4 05 98 05", 05 V4 05 tt 05Vi u'.'.'.'. 08 n a e p l, a 'J Tk N II A A W Va 4s 1....S 70 1 70 10 60i II cv 3tts 1.... 37tt New T N II A II 4s '57 2...... 38 N T llya ct 4s S 23 N Y Tele'a 0s 1 07V4 Nfk A Wn ! 1 80 tt 8 HOtt Nfk A IV d 4 s 2 78tt North West'r. Bell Tel 7 1.... 100 1.... 100 1.... 100 1 100V4 N Paclfle n is 10 80 N Pacific R l 2 70 05 05 tt 05t 05tt B A O Tel 4s 05H 05tt 1 504 3 MK 05 tt 04 Vi Dell Telephene of Ia 7s 1.... 100ft Deth Steel fd 1.. .. 80 00 05 tt 00 06U 00 tt D A 7th av en 1 43 00 Vi iun ua I) 7s 1.... 103 Vi UDush Rldif Gs 00 nus 00 ',3 00 tt 0014 1 81l ent'l Pae 1st 3... . 78V4 8 70 Oil (I0i Corre de Tas'e 004! Cep'r 8s tiiltt 2 111',, 10. 10.. (leve't V R 8ii 1.... 111 1 80 1 Ul'4 3.... llltt 3 llltt 5.. 0.. 50.. 1.. 4.. 1.. a. . ia.. lOOtt 100' 40 70J G 704 N Puclllc II 0a 1.... 104 20 104i 2.... 101 Vi Ore-W n n c A N Ce 4s 3...;. 74l 101 100 101 101 101VI 101 101. 101'a 101 Vi 1014 C A Ohie 4tt 2 7ltt C A O cv 4tts 1 81 C A O ev 5s G 84 H G 84 1 84 tt Puck'd Metur 11.. lu.. II.. 1.. 1. 20 '. . 10.. 1 . 1. 1.. 5 . Gram 1 Hlttl Cnr Ce 8s 3 84 1... . 08i 7 84tt' 8.. .. 08 100; 100 Chi A Alt 3V4f,P R H U 'IS 100. 10 3S 3 81 100 C D A Q II 4s! 5.. .. 84 100 3 g.1t H II R en 100 IC D A Q 0'4i 1 00 100) S.... 105U1P R II em t' . 1004 . 1O0H 1.. 1.. 1.. 4. te.. 10.. 105Vi 2 83 105V, 2 83 . 100 Trunlt 1054 1 5 83 1054 I'enna Rd il4 Can Cs rets 103, I.... 10314 2 .... 004 10.... 105V4 1.... 103 2.... 103H 10... 10HH I'enna R R 7s a.... 100 tending Ce 4H 2... . 70 4 -e',; 0 70 2 70H St L I Mt & H IUG dlv 4 8 74 "A G 00 1 105. II ... 0Hi Chi A Erie 1st 0 00 1 85 8 00 Chi A Q W I Grand Trunk 4. ... 53 Can 7s Chlcane Mil A 2 ... 103Vi BtP 4s '23 1.... 105 1 70 Jap Geve't 1st Ohlcaae Mil A 10 85 StP cv 44 Jp Geve't 4i 10 OS G OOtt 10 13 4 00 3 03 li St L Jt S F nl 3 00 1 03 10 08 3 00 3 03 10 08 it Uelaium 0 G 03 3 G8; 3 05 4 13 7 DStt 5 05 tt t-Tilcoae Mil A 1 O8V4 25 03 StPfd4s 4 9'i 111.. .. 05 1 57 1 08tt K DelK'm 7s Chicago Mil A.8t L A S F In 2 102 StP-m4 3.'.... 32 2 ... 103 I I 70! 1 52 K RelK'm rcts,C A Nun d ':i3i8t LAS Prat. 3 ... 10 1. ... 03 Series A 1 102 4 102 3 102 Klng-dem Den mark ct a Chi A Nvn cm ' 13. ... 03 tt II.. .. 7S C A N W fis t.... 104 10 05 H 0 05 "i St L & 8 Fran Series D 1 TSV, 2 78. It M 3 Fran Series O 101 1 P fd 74 71 71 1 103 C R I 1.... ion 1... 1 1113 5.. . 103 Klnvileni Nor way ct fia 11.... 100 11.... 103 n . .. ion 2.... me 1 100 1 5 10. r. 10. 71'., 3.. .. B3'i 74 'St t. S Wn 1st 71 2 ... 71 74 -eah"il A 1, 0s 10. 7H.I 1 43 C R I A p 41 Sinclair C Oil 10. . . 70 , Curp 7tt K Sweden 01 Chicago Union 5 . . 0fl 10 00 5 '00 10 .... 00 8 00 1 00 20 00 1 00 12 00 I 00 G .... Ull 5 05 H ct 0n 4 05! 1.... 100 Queennl'd Kxtf"hl A W 1 1 Lean ct 7s 1 05 2. ... 101 C N Y 1. ii.'i -'.... 1IM 2 05 10 101 ('I'd Cln Chi A 10. .. . mis! St Le 0s 101 0 0 2. .. 101 'ele & H 4s 1 ... 104 1 81 18 03 7 ... 104 'ens'd Ga 7 S'n Pacific fd 2 101 3 1113 1 70 3 101 1.. . 103' (1 .... 80 6 ... 104 G 103 S'n Pae cv 4a It Chile ct '20 3.... 103 -1 ae 1 00, I Match 7h 2. . . 80 1 00 2... 108 3n Railway 4s 3 ... 011 D d Nemour 2 .. C0V4 5.. . 100) Pwd'r 7tts 1 Sn Railway t H Chlle ft '41 2.... 101, 14 85 7 . 100 2 . . 101 20 85V. lOOVij 2.... 101 Teledo St L A loot, 100 i 100U 10h. loot, 10014 100', 100 10 103 Wn 4s Dug. Light Us 10 . . . 25 5... . sn Union Pae fd Krle Clenl Lien a 7Q4 1 I2H1 Union Pae 4s 1 421, 1 1 841! Rrle R R ev II 1...;, s4I 1 STh 1 84"i Erie Itly Ce 4 3 gn, fl 53 Si United Drug' 1 r.:. SI Ce 8a Flsk Rub'r Ce 1..,, 100H 8" rets ' 10 tee r... 4.. f.. .. f... 1.. 3. 100 n Repuh of Uru guay 8s II 100j 1 . . inu 3.... IOO14 3. IM, u b n a i n 2 (121, 3 1124 1 02U U'd S Steel M 8 (13), 25 05 i 0 0514 1 n.114 Va Rwy Ce ns 1 0514 We'n Pae 1st 3 BIS w Union OHs State of Sae Oe.5dyear Tire Paule ct Rs & Rub Bi 2.... 100 2...-. 100 1.... IO0H 10.. . 100H Swltzd C" . 2.... lOtlti a.... 108H 1 ... IOS'4 1.. . 1011 U K Ort Brit & I'd 1022 I ... PftS 3..., 107, 1.... 1UH 10 10S 1.... 107i 3.... 108 a Nt'n Illy 1st 1... . 82 H O Ntbn R 7s H . .. ldtl 5... 10(1 1 1 ... lOil imm iu. . 104H IOO ... 1)55,1 2. ,. lOOS.Wrsths'e t U 11 K Ort Ilrlti'lnck Val ISn Mfg ja tin IW-'U in 70 'i 4.. . 105 11 05t 211 , UBT4 10 ess uua a aian 111 1 1,, , jn. 6 481.4 1.,.. J03U 3...,. 44 Wilsen Ce lat SEEK SO GIRL AIDS IN WELFARE DRIVE r 57 City Bankfng Chiefs Plodge Help In Puahlng Campaign for $4,500,000 NEED MORE AUTOS IN WORK With all of the units of the Welfare. Federation Campaign Committee com pleted nnd the work speeding ahead, a call has been sent out for fifty mere girl volunteers with motorcars te help in pushing the drive forward. Mere than that number- already are working In providing quick auto service. Flfty.seven presidents and vice presi dents of banks and trust companies in nil parts of Philadelphia have pledged their help te Judge .T. Willis Martin, president of the Federation, te push the drive for $4,000,000 te successful completion. Asked te organlze the solicitation of subscriptions as well ns te accept con tributions by depositors, these out pests of prosperity have lined up solidly behind Jehn II. Masen, presi dent of the Commercial Trust Company nnd director of the team's division of the federation Campaign Committee. "We will co-operate," said J, It. McAllister, president of the Franklin National. very glnd te be of any service, said W. Ncwbeld Ely, vice president of the Girard Trust. "Will gladly help." said Asa 8. Wing, president of the Provident Life. "Will gladly co-epcr-atc," said L. P. Gelger, Jr., vice presi dent of the Land Title. "Glad te help," said C. Stuart Patterson, presi dent of the Western Having Fund. "Count en us," said C. F. Hand, presi dent of the Quaker City. "It's n pleasure," said Webster K. Wctherlll, president of the Aldlnc Trust. "Yours te command," tald Charles S. Calwell, president of the Cern Exchange. Frem Deputy Governer W. H. Ilutt, of the Federnl Reserve, came tills note : "Need net say both. Governer Norn, and I are actively interested In this effort. The fact we arc both associated with the activity is proof of that." "One day a week Is net much te give, but It means a let te the federa tion and the successful functioning of the complex pre-campaign erganizu- 1tne Iaei01' corps' chairman. "Tell the Kine we need mem enuiy ana et eut-u. Itepert nt Fifteenth and Spruce with cars ready for duty." Here Is the present meter corps res ter, Under the direction of Mrs. Krtunb Krtunb hear and Mrs. E. F. Hlvinus: Men day, Mrs. W. H. Myers, Jr., Mrs. W. C. Wctherlll. Mrs. Itebcrt W. Dunlop, Mrs. J. D. Stern. Miss Helen Dough erty; Tuesday, Mrs. E. E. Marshall, Mrs. Jeseph Leverlng, Mrs. J. L. Ackerson, MIhs Kntherlne Harlan, Mln Julia Blakeley, Miwi L. A. Titus, Miss A. S. Xcwlin, Miss Helen lledmann, Mrs. Paul Dencklu; Wcdnculny, Mlv, Margaretta Shnfplcss. Miss L. A. New -lln, Mrs. Jeseph Wped. Jr., Mrs. Henry P. Ilally. Mrs. Henry Ilain, Mrs. Edward C. Page, Mrs. Geerge It. Bewer. Mrs. Sydney Thayer: Thurs day. Mrs. II. P. Glendlnning. Mrs. Leth rap Illtchie. Mrs. J. L. Ackerson, Miss Sydney Diddle, Miss Mnrgnret , Earlc, Miss Margaret Davis, Miss , Theodora Llllle. Mrs. P. Frazier. Mrs. I Jehn Masen. Mrs.- G. W. D. Heberts, ' Miss Eleaner Wurts; Friday. Mrs. J. S. Dlssten. Jr., Mrs. Hnrry Res, Miss L. A. Newlin, Miss E. Morgan. Mr. Alba Jehnsen, Jr., Mrs. William G. Merse, Mrs. Charles P. O'Connor, Miss Lerraiiie;LlHHtuii, Miss G. Martin. AC0STA WINSPULITZER AIR RACE; 173 MILES PER HOUR One Flier Falls and Is Badly Hurt. Parachute Jumper Drowned ' Omaha, N0v. 4. Ilert Acestu yes terday wen the second annual Pulitzt-r ' Trophy airplane nice, making the 150- I mile course in 01: minutes I) iI-10 ser- ends, traveling at n '.peed of 173 miles , en hour. He will hum the trophy a year, or until it Is wen by some ethor filer, nnd will kip the $3000 which gees with the victory. Acesta's winning wns against a fn-ld of five fliers, and the race was w cIe?u that the second man was less than two minutes behind Acestn In crossing the line. Lleutcnnnt Colonel II. E. Hartney. of New Yerk, executive secretory of the Aero Club of America, ene of the en trant's, fell from a height of 1500 feet and was Oadly injured. He will re cover. Hnrry Eibc, of Chicago, parachute jumper, who ninde a leap during the race, fell into the Missouri Hlver, and in the prennce of hundreds of s-pectu-ters wns drowned. The Pulitzer Trophy mop was the premier cent of the International Aero Cengrtss, which opened n three. days' meet here yestcrdnj . It was the llrbt event en the program. PARKWAY BILL OFFERED Huge Expense Seen for Ordinance te Condemn Tract A bill providing for land condemna tion that Is expected te rest the city n huge sum of menej if passed wns in troduced Inte Council yesterday by Councilman Wcjlein at the request of Eli Kirk Price, of the Park Commls Cemmls Commls slen. The ordinance would condemn all the land between Callow hilt and Carlten Streets from Twentv-fnurth street wet' te the scnuylklll IlUer. with the ex ception of the railroad truck. The purpose of the ordinance is te extend Foirmeunt Purk southward te Curlten street, providing a southerly approach te the Art .Museum and, possibly, ground I for a power nnd electric plant for the buildings en the Parkwa;. WILDW00D VETERANS MEET Three Wars Represented In Eve nlne of Fun and Politic WIIiIuimmI S .1 v j . I .1 "1,u,;oea ; " V. An en- thtiBlastic round-up of nil the former ! service men of the oetintv wnu i,i.i Thursday night at Wildwried. About 200 vctcrniH of the World Wrtr. Civil War and Spanish-American War were present nnd spent a lively cvunlni; of fun. fiKhtin' nnd pelitlcn. Hey' Fester, of Court Hnuxe, presided at the piano. Charlie McCreu, of Tuck Tuck ahee, pulled one" of hin oratorical cITe-i-. hlch hretiRht the hetme down. Slim Wlll'nm's treup kept the crowd In oed humor with miiirh, jnzzei and stories Lieutenant K. C. huckens. of l'liiln delphia, spoke of bin Kcrviee with Majer Hewell In the 320th Infantry, jrivinj: the history of the Majer's service both In the United Ktates and en the battle-tern items 01 trance Today's Range In Liberty Bends High T.ew t l ' Liberty a5s ... e.i.sn n:i.l(l li.'irni Liberty 2d Ik . . fill. SO ll.'I.Sn d:i .se ' Liberty 1st 4'4n IH.OO '.I3.S0 fline! Llbert StMs. IW.Ofl l!.(IL nr.iM I Liberty Jlil 4'4s.. IKI.'JO 1)5.88 110 10 Liberty 4th 4'4s 04.20 O.TJSO 04.10 Vic Notes 3is.. 00.08 00.04 00.00 Vic Notts 4s.. 100.00 00.01 00.08 Liverpool Cetten Liverpool, Nev. 4.-Spot cotton was quiet today with prices easier nn tha bs of a deollne of 20 points for middling at 12.Ud. ThA nales were C00O halts. The receipts' were 18.000 bales, including 0000 bales Amer. lean. Futures were quiet In tha early deal. can. fuiurva were quiei in ma cany wi nas, Hpet Prices were: American, mlddllna air, 14.00d. reed middllna. 12 01(11 full tilddllna-. 12.Bldi mlddllna. 12.11d low mid lnaa flr. nAAtn9 dllng-, lO.Sld; geed ordinary, O.lld, and ordinary, 8.3(d(. ( Special Service in Ohie Securities Members New Yerk Bosten Cleveland Detroit Chicago Stock Exchanges N. Y. Cotten Exchange Chicago Beard of Trade Extensive Private Wire System OTIS & CO. Cleveland New Yerk, Bosten, Detroit, Cincinnati, Columbus, Teledo, Akren, Youngstown, Dayton, Denver, Colerado Springs il HOW TO FIGURE MARGIN A new book, which tells In plain lamruaKi and shows by simple examples exactly hew te figure margin en any stock market transaction Resides this. It explains fully hat Is meant ty 'Equity." "Short. Bales." "Odd Lets," nnd ether terms uaed In trading. Teu should have a. copy et this bek at once It will be sent te you absolutely Ires. Just ask for F-5. Edwin E. Kehn & Ce. Mtmbtrt Coiuelidattd Stock Exchange of New Yerk 1522 Walnut St., Phila. New Yerk Trenten Kasten Pittsburgh WimhlnKten PetUvltle llmleten If There Is a Market We Can Find It We held sales of stocks and. bends every Wednes- day, charging $1.50 en-! trance fee for each item. Our, weekly catalogues nnd postal card service reach every mar - tct. We take rjlcnsurn in We take pleasure in furnishing quotations. Barnes & Lefland Hteck Brekem nnd Auctioneers 147 S. 4th St. Cities Service Company Securities Pull Information en present condl cendl condl tlens and future prospects. Write for Letter P. A. HENRY L. DOHERTY & COMPANY 604 Merris Bldg. Philadelphia NEWBORGER, HENDERSON & LOEB Members New Yerk and Philadelphia Stock Exchange 1410 Chestnut St. Northern Central Rwy. l MORLEY, WOOD & CO. , j 333 Cheitnut Street I Mrmbera N. Y. & Plillu. hteck Exch's, i AUTOMOBILE INSURANCE I.HIKIITY MUTUAL INSURANCE CO Pbanet Locust 007O jje.-jj pn. Ifltti'Ht. BONDS Blodget & Ce. Real Estate Trust Bldg., Phila. 1 . ; 'I T3 '(Redmond a Cot New Yerk Phil.delphi Quick collections Cern Exchange Nat. Bank LEE, MlGGINSON & CO. Est4blisheu Ibis BOSTON NbW tuitlw CH1CAOO 130G Finance Dldg Philadelphia W .nj". no Invester ever lest m daiiaa W of prUicluat r Interea en any !izZ fRr bought of s. w. Mtr.iu. 4 Ce"t wnu for our booklet 2-U and leurn lb rsaaaa S. W. STRAUS & CO. Btaek Hichange UI1I1.. :'hlladabhli United States of Brazil Temporary Bends for the Twenty-year 8 (Nen-Callable) Externa! Geld Bends may be exchanged en and after November 9, 1921 at the office of Central Union Trust Company of New Yerk 80 Broadway, Nev Yerk where Temporary Bends should be sent immediately, ar ranged in numerical order. Dillen, Read & Ce. N.Y.C:,A:St.L.ek,l! Met. Edisen 5s, 1922 Clev. Elec. 111. 7s, 1! Arthur C. Richards ft Ci Drexcl Building: ntl. Jm. ?030 Krafena, Mala T isxiOTuimjianimnniiOTiitT,mxi.meirTrrarrtinnirianijaptiat Stockwell. Wilsen & Li tertihed Public Account Land Title Bid?., Phtfaf.Q.i FINANCIAL t.w,. .w.wau riiNunt.ltlATRn ".YiTrnufANvr iNildlU'OBATl rirrv.vKAR nvr. per cent aei Nelle la hereby given, pursuant te terms et the mertgaga dated Julr. I, IMJ. that tha underslmef as Trustee will rawlw eealed proposals up te s a. ni., un J". -V day of December, IW1. for tha sale te.lt 1 bends aa above described, aufflclant te Ul , sum of M0.8vJ.ti7. Tha undralgn reserves the riant te reject, any or an m rs, in wrote or in pari. ... S-itVi ni:w Tonic thust COlIPArTr. Trust,! riw A. O. DOWNINO. Jr.. i Assistant ascrstaiT.j Ksw Tern. Oelntxr vi iai. I'ropesaU tl2.fl 00.00 nonecon or i-itman. ex.avcrjvnm county. N. J. noneiioii FIRE miNDST Pealed blda for the purchase of Iloreuafn I'lre Ilends of the Uoreugli of Iltman, In County of Oleucestsr and State of Kerr Jersey, will be received by the lloreUBi Council of said Iloreuli of Pitman at A meeting te be held at Ilnreunh Hall, 1'lt man, N J , en Nerembtr 14, 1031, at S o'clock P. St. , t . . . t Th amount necessary te be raised by th sale of said bends Is twelve thousand flvn hundred dollars. Said bends are designated "Iloreuah Irlre Bends" and shall b num. bered from one te twenty-five Inclusive and shall be of the denominations et five hundred dollars each. The bends will be dated August IB. 10J1, and will mature In numerical order aa fol fel fol eows: Four bends en August IS, In each tt the years 1022 te 102.1, Inclusive, and tm bends en August 1(1. lu each of the year 1020 te 1020. Inclusive, and one bend en August IS. 1080. Said bends shall bear Interest at trie rate of six per centum per annum, payable semi-annually en the nf te-ntli day of August and Kebruary of each year un'II maturity. Deth principal and Interest of said bends will be payable la" geld coin of the United States of America, of or equal te the present standard weight and fineness at the Pitman National Hank In the Iloreugh of Iltman, State of Nrr Jsrsey. Said bends will be coupon bends with tha privilege of registration ns te principal only, or of conversion Inte bendg registered as te both principal and Interest. Unless bids are rejected, said bendg will be sold te rhe bidder or bidders complying with the terms of the sale and eftertng te pay net less than the face value thereof and te take therefer the least amount eE ttie bends offered for sale, commencing with the first maturity, and that if two or mar bidder offer te take the same amount of such bends, then te rhe bidder or bidder offering te pay therefer tha highest ad ditional price. Each bidder must deposit with his bid a. certified check for two per centum of tha amount of the bends bid for te aecura tha Uoreugh against any less resulting from failure of the bidder te comply with tha terms of his bid Maid checks te be mad payable te Treasure. Iloreugh of Pitman. and drawn upon un Incorporated bank or trust company. Dlds received and bends sold upon opinion of the Horeugh Solicitor aa te their legalltr and that the bends are the binding nd ieK-i euiikkuum u. .no DiiiuuKn os i itman. i in the County of Gloucester, and State of. 1 New Jersey. The said Borough Council of ttie Peraturh I bBpl.urnbn5tt".erv" lha r,eht tu rejecl M oiLesVe.0118" of p'tmiln ,n ,h' County of By JOHN V. PETERSON. , Borough Clerk. JW Dated Neember 2. 1021. 1J . healed proposals tt ' school district of heading, r$ Office of the Secretin- .h,i AHmini.tr. n n..fui ,S Scheel Administration llulldlar i Reading. I'enna,. Oct. IT. mef Pmnniali for a New Junier Tfttrh !., Uulldlm.' at Thirteenth and Marlen atreetaj I seaieu proposals win ue received by tM Heard of Scheel Directors of the City et Reading. Pa., until 8 P. JL, Tatadar. , Netember IS, 1B21, for the erection M completion of a new Junier High SchoeL M 1 Thirteenth and Marlen streets. Reading, Til , Tha proposals shall be submitted sep arately for the bul.dlng proper, the Keating' and entllatlng. plumbing and drainage ail the electrical work. r A surety bend or a certified check, equal te r."i of the aggregate amount of each blfl. must accompany each proposal te guarabi i tee acceptunce of centiact. If awarded. 141 A suret company bend equal te B0 pitt cent of the aggregate amount will be pj quired of the successful bidders. Q: Plans may bv viewed at the office of tt architects. ALEXANDER F. SMITH art DHKHKR. CHURCHMAN, PAUL tt FORB? associates. 3M Ilerka County Truat BldgZ Itendlng Pa. Plans may be secure! that) iilse upon application accompanied by a) deposit of 115.00, Hhlch amount rill ba ,' returned upon tha return of the pana 14) . said office. )J . Th Beard of Scheel Directors reserve" the right te rtject any or nil bids ;n sucJi I manner as may appear te their lest tni tsresis ah prupuiniB nre te te submlttaa In compliance with the conditions sat fertti en the plans and In th "peclftcatlene. ZS OSCAR II. HK1M. Sepr.tary. DEPARTMENT OF PURLIC W 0BK3 Ul'IlEAV OF IIIOHWAa-fl noenv232. City Ha,U, Philadelphia rr.il P Dunlap. Chief of Bureau. Octeitir 31 letL Sealed proposals win be received tO epenfed In Roem 210. City Hall, at 13 o'cleiiS neon. Mendaj. uTfmber 7b, 1021, fer: aradlng. Asphalt Paving (Assessment Werk). Oradlng. Paving and Repavlng Tork RaaA. Redressed Granite Uleck. Repavlng. . Crushed Stene Illtumtneus Material. Water Transportation of Ashes and Rat Tractors. Water Proof Coite. Hubber Douts. Oiled Hate. Hangmen Lnlfprm. Drivers' and Helpers' Uniform. " Caps. Vehicle Signs. Canaa Cere Inlit Toels . Stable lllanket. Iren Orllls. Kurd Mangers. 5 Corrugated SUel-Asbestes Rcefln u Biding. "1 rRA-VIC H. CAVBN. tnq-'re nt Renrn 212 cty )an ctar P'TTsniRCn. Vel'MiSTliUN 3i """ AMIITAIII L RAII.ltOAD COMPANY Sealed proposals will be remit.,! . lh. ertlru uf the Farmura' I.k.i and Trust Cem pan', lrt-22 William street. New rerk W. Y , UP 10 12 o'rlerk neon, nn Nerember M, ii,.. 1.11 diii iu ii- 1 runife or tne I'lTTfl mit'iii v-ii MiHTiiw.s t amitaiiula: RAILHiiAl; i-iiMPANY, First Conaelldated rlrtgnge l'le Per Cent llend. te the z tent or 115 220 for the sinking fund under the tirmi of Artie. e Thlnl of the Mortgage of that rnmpanr te The Farmers' Lean an Trus' Company dated Niiwinher 1 18873 -'. ir.. dies that the Trunlee may purl imre i-.mils for the sinking fund at u prlea net te exieed par nnd lute, est f THi: FARMERS LOAN AND TRUST ? rn.MiANY Tru.tt. i"u- I ly JAMK-. H Pi:ricins President, t 'a'e.l New Yerk Nev. 1 iflai 1 1 Dtildenda KNNhYIAA.NiA OAI, 4, ceKF At 11 meeting ut the Heard of Director. . iih Pennsslvanla Ceal t feke CWeratlJrl hsld this day there was declared t e reauul .ivldeud nf Sl.liO iMr sliure out of thf iS .umulnted earnings and surplus of thmntS -any .a.,ble n Netember lt T lBl?0?? ..kh.iljer of re,,.r,l at the close of busl? iivis en Nmemtur 7th, 1021 eus( r. II. WATKINS, f I'resldetif Pay.iblu en demand, fre Der rim. lax Check will mailed. t.INFOIiU C NICIC, Cashier. November 'Jnd. 1A2I NdltrilWr.sTICItN NMlllNt. It INK V- Philadelphia Pa . N "rnVher 1 luai A TU.. IMrwiers hnvi -In. il.t declar,d .,, .. v.. . .,iitiii,tj ai 11, n 11 itmz mM 'CA. "K. ,rfW 'l . My'n. .
Significant historical Pennsylvania newspapers