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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. .