y-
27
EVENING PUBLIC XEDGER-PHILABELPlIlA, FRIDAY, NOVEMBER 11, 1921
' I .. WTMIMII ggMi
HOPE SUPPLANTS
GLOOM YEAR AGO
Wonderful Accomplishments In
Reconstruction Program of
Business and Finance
In honor of tlie unknown here ttlie
J be laid te rent nt Arlington thin
Ifternoen, nil the busy mnrket tlckerx
ire silent today. This is the wcenn
UUAay Wall street ami the who'e miir
wt world has taken this week, leaving
l a tue-Iimir FcsMen tomorrow te
Jd up a badly broken up week In
buslne-" nnil finance.
ll LoeMMt I'fiCK inrrc jrat , "' i'-
tttnlnic of the nrminuce. ninnirj- na
Utn mndp fnet in the fliinnelal realm.
TTie unknown feldler honored by tilt
ntlre Natien pnlil the price for hi
tmfsltcrlnc patriotism. In the Inst
three jenre. the stock market world nlne
iltl a Miff price for the wl'd orgy of
the war period. The penalty was net
inly exacted of the security market
w wan n'se paid by almost every
Wirh of business and Industry.
The World Wnr is no wn tmnj of the
Mit, and (-e are the mistakes, tnls tnls
("icidatlens. over-cxtensleni and bad
kdirment of biislnesH nnd finance. Th
Viire fe- Hie deflation ha been taken
ml al' ImndR new are In the cenvn es
cine stage, poorer nnd wner. nnd time
Van i enli -tell whether there will be real
crefits from the experience.
This much is certain, at least, most
everybody is in a much mere comfort,
able position than n year nce. It In
reasonably certain the worn! of our
trouble-" are new behind us. It is n'x.
nasenablT certain the corner hm been
turned. 'Ne lenRcr nrc measurements
Mnc made en the mlstekea of the Prtft.
bnlil upon the brighter prospects of the
I fnture. ...n..,innt eh.
After reaenms uuii" ........, -norrenm
low level, by remfn of the
"e-l and ext nslje liquidation, se.
curltr values nre pointed upward with
automatic adjustment of Income basis
with the lowering earning power of
nenev This can sifcly '.e accented ns
a reliable barometer of the Improved
economic situation, whleii. nf er nil.
must be the solid foundation of the re
turn of the country's prosperity.
The ear's experlen"C. or since the
last anniversary of Armistice Day. has
hn harrowing nnd trying te the Ms
rent in e-ests of the ceuntr. The rolld relld
ity of the country nnd Its (treat re
source' have been proven a fict rather
than n fancy thnery. Almest lnur
meunlabl" ebstaelcN were ove-cem-Prob'eins
that seemed without solution
ntre met and conquered. The seriously
ererMralncd credit situation has been
brought hack te almost a normal equi
librium. Of ceu-se there nic still some
adji'itmcntb remaining, but, en the
etblr hand, the situation is se coin cein
pletelv wll In hand that thcc remain
Ins disturbances can be regarded mere
In matter of lncld nta than In re a a
tlenshlp with the fundamental position
of the country nt large.
Confidence and hope hns supplanted
gloom nnd doubt of a year age. As
nsual. this found first reflection In the
M-urltv markets tint It is n'tecef'er
rtavinnb'e te suppose, with its usual
alertness, the sensitive little muchine,
ceram nly called n "ticker," has stn-tctl
te (lleeuiit still greitcr chances in con cen
dltinns that arc new invisible te the
naM eye or the vision of the unexperi
enced luyman of the street.
Fair Demand for Weel
nofteu. Nev. 11. The Commercial Bulle
tin tomorrow wll. snvs. 'Tli ileni.ttid fir
wwl has continued of fair iropertlons and
tn txn well dHers'flert ,vi fur us uraiiei
nj clasilllmtlnns nre runctrned. oerytiin
from tin.' suiile neul te tre uv urude for fer
tlrn wools liavlnir thnnvd hand and at
prices ihleh lire fullv firm. If net even a
bit itrenircr "" certnln crudes. Heme nrwo nrwe
ulat've Milling la reported en tli market
Is low Seuth American wool. The price
Cild for Hid fall Texas wee a tins i-ienn
n upward tendency th' week, clearr landed
costs Hoten lielriK about STe te 58c for
the wool Mirch.ised In Pel Itle. The soeds
market demand has Blackened."
Liverpool Cotten
tlrrrroel, Nev. It Cotten spot dull:
pries ateadv oed nrddllnic. 11 ORd. f u y
mlddll ir 11 L8d mlddlln'. lOSSd; lnW mid
allnir D.IHd, weed ordinary. 7 Sid, erdlnnry,
7 Uii. Hales. IO0O balus Inrludlnz :IS0
American Tterelptk. StOO ba c. nil Am r
lean futures cloned nte-d", N"eem er
10 nnd, 11. .ember. 10.RV1. January, 10.4-d
Marc, 10 H8d May. 10 . lid. July, lO.aid
September, U.PSd.
Londen Metal Market
tendon, Nev. 11. Standard repwr, spot
CM l-.'H fld futureH, 07 7a Cd Klectre
1ilc, niet, 74 , futures. C7tl. T n, spot
168 IN M, futurts. ilUO Jb Hd. l.eud.
pet. '.'1 ."i ii,i, futures, 2.1 15c Zinc.
ret, 15 llli (Id
Paris Bourse Heavy
Tarla, Nev. 11 Prices were heay cu the
Jcurie ted iv. Three per cent rentes. 53f
We. Exchanie en Londen. 64f 50c. VI c
Per cent lean fi'if I'Oc. The dollar wi
etd at I3f B3He.
Outlast the Factory
iz th & -rT' ---.Jt-- -;- -
Attend te Your Floers New
Yeu can get a new fleer that will per
manently settle your fleer problems, if you
get Kreelite Blocks.
Old, worn floors can be made water-tight
and wear-tight with these Blocks, without
interfering with production.
New is the time te de it. Let our Kreo Kree
lite Factory Fleer Engineers give you their
advice and suggestions without cost or obliga
tion te you.
Call our Philadelphia Office, Locust 6469.
THE JENNISON-WRIGHT COMPANY
1420 Chestnut Street, Philadelphia, Pa.
Phene Locust 6469
jrh$ Jennison-Wright
OPPOSE AVERTING STRIKE
Garment Workers' Union Head De
clares Manufacturer Must Yield
New Yerk, Nev. ll.(By A. P.)
Mfferls of twelve United States Senater
te prevent the strike next Monday of
"0,000 garment workers In New Yerk
-vers looked upon wth disfavor tedny by
licnjnmln Sehlesingcr, president of the
nternntienai Ladles' Garment Werk-
i-rs' Union, who dcclhrcd the strike
etild be nvcrtcd only by capitulation of
he Cleak, Suit nnd Skirt Manufacture
rs' Association.
The Senators had telegraphed the
manufacturers' association, urging It te
mid up for two weeks the nc working
conditions scheduled te go Inte effect
Memlii) ,
"The strike will begin Monday tin tin
less the operators have given up by that
time their poiltien en piecework nnd
the forty-nine-hour week," Schlcslnger
declared.
$943,000FOR N. J. ROADS
State Gets Share of Federal Appro
priation for Unemployment
Tmiten, Nev. 11. (By A. P.)
New Jersey wl'l receive $042,870.05 of
the $7C,000,000 just appropriated by
Cengrea for the relief of unemploy
ment by building new State highways.
Out of this allotment $314,200.32 is
new available nnd S028.580.05 will be
obtainable January 1, 1022. These
amounts arc In addition te the unex
pended balunce of $1,518,480 from
allotments te the State under the pro pre
visions of former Federal aid acts.
TAKAHASJelTpilMIER
Japanese Finance Minister Expected
te Ferm New Cabinet
Washington, Nev. 11. (Hy A. P.)
Advices received here from Tokie today
said that Koretlye Takahushl, Minister
of Finance, probably would be Intrusted
w'th the formation of the new Japanese
Cabinet.
Marquis Saie.iil, who hiw been spo
ken of ns the likely successor te the
late Premier Hira, has eeided t'
advices state, that his age precludes
his acceptance of the Premiership at the
lrchent juncture becutise of the henvj
responsibilities involved in the office.
Autelsts at Gatekeeper's Funeral
There was a large uttendance of the
motorists who have used the Chester
pike for years nt the funeral today of
Jehn S. Callnslmn, of Folsom, who was
one of the best known gntekeepers en
tln pike. He was familiar y known u
"Dad," und it Is wld that he had
friends in every state In the Union nnd
Canada, who hud his affectionate greet
ing in his long term of service.
LIVESTOCK QUOTATIONS
rhlcnne, Nev. 11. CATTI.tC Receipt!.
Soen litad y'ew and eteady; quality pliln;
lockers and feeders dull and lower.
HOGS llrcelpts. 21,000 h'ad. Valrly ac
tive; lnC-Jc lower than yesterday's aer.
ase; her packers buylne eparlnxly. Vlrtua
t"p. '7 i5 for 150 te ISO pound averages and
one Imd medium weight butchers! bulk,
U SW7 15, 1 steady ta Htreri;: bulk ilc
Hlnihlp 100 te 120 pound pics, (H.
SHriEP Receipts flOOO h ad Kllllns
ilasneH strong te S5c higher. Tep fat lambs,
te shippers, ID.40 picker, ten, $0.35: bulk
V'MO .'1 boe.I handy fed 'Western ewen,
!4."B, hu'U. $39 4 30. no frean feeder lambs
bere, toy yesterday. $s.23.
I'lllfe1inpL.h. Vm- 11 TTnrcG n.AAiK..
S.'.OO head. .Steady. Ileavlei $7.B0a7 r,
heavy yerkiry.J8 2sars.35: llfht yerkerv
nnd idg" Js 1S5ts..'iO
HIinHr AND I..A.MIIS It-i-ints, S00 head.
T fin nheen. IS: ten la th. fn V.
CALVUS Hecelpla. Ce head. Steady. Tep,
Knst ntiffale, Nev. 11. CATTM3 Re.
flints. 450 heid. eteiity. C'nUes receipts .
$1200 head. Steady. J.'.fpia
HOaS Receipts, n-no head Slew. 2nc
nirtijr. ii iiij . u"i.(i; niiTPii a V.(C
; ynrkeri. $8: light erkcri. JstiH.2ri, v'en
'" iJC8.50j reutths. JU.2r)n SO, stags
HHEKP AND LAMRR Itecelpta. 89110
head. Lambs. J1W8 (25c hluher): mixed
heep, J4.I0W4 50, ethers urrcrnnsed.
Enikt St. I,nuU, 111., Nev. IX CATTI.K
RecelptH 2000 head. Market ftfadv: a f-w
s)i)ers Rild J5.7S te Jd 31 common te go d
cow, $3 25 te tl. renners $2 25 te J2 no,
tteckT calvet, 81,75 te J5 60, veal caves
t'n 50.
Iin.u n...n.a nnnn t....i . ., .,..
1','uti ,tuivite uui. ,iv,iii rttiive, IIKIll
UshtM nnd pIks generally hlsner: light weight
firnng; meuium mucnera Mcjiuy. 'jep $S;
'llht lights praet cal top. J7 50, bulk lights
and medium weights. J7 257 50, bulk
llBhtH J7 C0W7.85: packer rows stendv,
5 75lffl25. pigs strong 130 pounds uu te
js 25 quality geed.
SHEEP Recilpts. 300 head Market nom nem
'nal y steady en y two dtcki en sale: one
eck BO"d tn choir- natl hrnught J 8. 50; a
slnclu of lommen Jri, feiv licht cnes at 34.
t ' '
German Dank Statement
Ilerlln, Nev. 11 The statement of the
injuria! Itenl, of i.e.-inany us of November
7. nfeuH the fel e.ving changes In markii
Total coin nnd bullleu Increased 1 02.',U0i
told Increased hOO'l: treasury t.-etes do de
treumd 2U,7'I4,000. notes of ether banks In
creased t MS.UOd, bills discounted decnusc.l
'l,3it.",105,ll0U: advances Increased 2 SUt.OOO.
netments decreased. 7 058.000. ether se
curities Increased. 33.H33.oeO; notes In c r
- ulallen Increased LOd'.", 31(1.000; deposits
decreat-ed. 4. 442.2HA. 000; ether liabilities de.
c-eaned 120,588,000; total cold holdings
003,030,000,
Ce., Teledo, Ofrie
tiil-HKy. iiAyi9miMli.W:rUJ
Vutcnttd i
Slav H, 113 I
Wins Nebel Prlie In Chemistry
Stockholm, Nev. 11 (By A. I)
Professer Wnlther Ncrn&t, of the Uni
versity of Berlin, Is awarded the Nebel
prlze for 1020 in chemistry by the
.Swedish Arndcmy. The prizes In chem
istry and phyelcs for 1021 nre being re
served. Dr. Ncrnst, in addition te be
ing director of the Institute of Physics
and Chemistry at. the University of
Berlin, is a fellow t the Berlin Acad
emy of Science.
Seek Solicitors for Fake Fund
Complaints were received nt the
Nineteenth and Oxford streets station
this morning that two women wcic so
liciting in the neighborhood for sub
scriptions te a fund which they de
scribed us "The Lankcnnu Hospital
Fund." The hospital authorities de
clare the "fund" Is a fraud. The po
lice have been given descriptions of the
women, and arrests tire expected.
rVTEAMHHir QTIf-K.S
WHITE STAR
Nfr Yerk Chtrheurff Heufhnmptatl
llIU XIIU t.,. . fit, ii
OIAMP10 Dec. 10 Dec. 31 Feb, IS
New letk i.itrrimul
Jl-D"! ev u .id il sr only
iV.V'.i.v rse. iu nee. in
CEDRIC ,. n 2(1 Drr. S.I
rKI"l' Dei a Dec. 31 Feb. 1
IIAVKItreltn Dee. 10 -L 1 .
rieu urn,, .Iteres, i,ii.i t.r, Nuples und
CANnnic ?r?e. 22 .
rilKTIO . Dec. 4
'!U',l'.'i.- tDec. 0 Man. 21 'Slur. 4
ADRIATIC ., ..'Jan. 7 Feb. 18
JCpeelnl Teagesl. Alse rail tit M idelra,
Algiers, Menure, Athens nnd AleTsmlrla.
tAlse II nt M delrn ind Jloniee.
-.,.... rii'Hdelnhl i N.iilrs, (irnna
C0TI1IM) f3d rlie p len'urs only) Nev. 17
I'htladelphbi l.lr roeul
.. (Freight Only)
nAVERFORD ,. Dee, S
re STiiR lim
3&a r''""'tlit Clierlmurg, Antwerp
1-NI.AND .' .WjS D5 Frb:"S
l,APID .. lr .Tr" 7 Feb 11
,UiSftN?'NP .! Vc- " 1nn- "l Feb! S3
.,..h.ll;,!!'.,i,l! .a. "mhurs-.i.iiiiiii Dniuu
tJAJH.AND (.fd el ihn pas gers only) Dee. I
.... J'hileilelpbin Antwerp
MAIllUVMI Ver. ?n
MAIIOl'AO Nev. 24
MERsraw Line
('orrfert Tab.n Tl iss, Kiimbure. S1J0
NEW ORK IIAMIIL'IIII
MACIIt,'Itl.V ... Nev. 2J Dee. 20
M A . . Dee. 1
JIlNNliKAHDA t8d iIjm)...,.., . Drc. i0
Alse cads lit l'ljinnulli nnd riicrbeurc.
I'blladelpbiu llnmburu
MIHSIBSIlH'l " ..Ne, e,
MAIIOl'Ar ! "., Ne! 24
ATMNTIC TKAVHPOnT LIN I,
I'lillud IpblJ Ixinden
MACKINAW Net. IS
SIAItYLAVn Nu 30
lin.l.AND-AMKTCA LINK
- ... ..'.''""'''hl.i netterdum
Rnitni'DYK Net. 14
HOKbTlUK Dee I
International Mercantile Murine Ce.
120 STf.AMi:ilS 1, .100.000 TONS
Pnseiurer Itmce. 1S1 iVilnii Ht.. Phlla.
F re tlit Offlre. 405-114 IleurM Hide.. Phils.
Sslllnji from Pier 74. 34th St.. N. R.. es
ttpt S. S. GeO.Wsihlnjten end Ametlct,
which sail from fieri 3 tnd 1, Hcbekea.
te Plymouth Cherbourg brtitu
America, Ner. 29, Jan. 3
Geerje Waihinilen, Dec. 8, Jen, 17
Te Phmealh Boulogne .Wen
Centennial Stale . . .Nev. 14 Dec. 14
Panhandle Slate . .Nev 25 Dei.. .
Te Bremen Damig
HoJien Dec. 3 .
rinceis Mateiba .Dec. 10
Potomac Nev. 12 Dec "'
Unekd States Lines
MOORE & McCORMACK CO.. lac.
ROOSEVELT STEAMSHIP CO., tee.
UNITED AMERICAN LINES, lac.
Manatini Operalmi for U. S. Shipping Baatd
1'ur uoekui AJJrjji u. 5. Unci
45 Oreadway, New Yurie
QntL&QevtrnmentShips
Fattest Tims
te U.iJ de June ru. Montevideo uric
U'nes Aires, Finrt snips Amerli-un
ervlce Arnc.rlfHtt feed Amsrlrnn ram-
rts. Snlllnars from Pier 3 'e'-ol(,-n
S.S. Aeelui Dec. 7
S.S. Huren Dec. 22
I S.S. American Legien. .Jan. 5 B
; .a. Southern (.ran, . . . Jan. 19
Fer d'i"i"tive booklet, address
L!NES
7EGULAK FRFIOHt SFKVICF
TO ROTTERDAM,
ANTWERP, AMSTERDAM
S "New Britain" Sailing Nev. 17
STEAMER (USSB) Seilins Dec. 2
S ' S "WhSr INSKU'" (USSB)
.Sailing l)?c. 17
Oi Halts and I'ai 'iculam apply
GEYELIN & Cu Inc.
I'hl'uili'llihi l 1ellti.
1118 SOt Tit tMI s.
nnih-rd SMt
I'll 1 1. .
M n 11151)
Ins
STEAMSHIP LINES
PHILADELPHIA te
CORK, DUBLIN, BELFAST
LONDONDERRY, SLIGO
S 'S "Eastern Klnj,'" Nev. Ii)
S S "Ohhliesh" . . . .. . . Dec. ,r)
SCANDINAVIAN &
BALTIC PORTS
S S "Miimiu City," I.ust half Ne.
Moere & McCormack Ce., Inc.
E. W. STRCF1"' D, .1 Mir.
423 nOURSH DLDC, THILA.
Lemli. 0S8S. Mam 7 I -
iiKi.inint seriri:s
rrfxlivlrrl in
.1mi1siT(V, n .shimt k Ar
"llUIIU'.Ith- S1,IU MI.MUItlAL
iiti:sVTi:i.N niiiK'H
Htead si, blew HpruC'
S A M. "icuchlnif by Winter U Oreemyay
Muslu ' Quartet Clelr.
Kmlly Blekcit J fata r, IHorpnee Dnt Ilutter,
J'aul Velkman, llebert I.. Uoed,
A, cerdla Invllnlen te all.
I
fNEW YORK"!
li-Q EUROPE
I onU.S.QevtrtimentSliip$
iNewlfiifik tel
u
(icntr" Onicr., Miinken H lie. H I
v 'I
Terente
(Ontario)
Geld 67e Bends
Maturlne 1033 te 1043 lnd.
Direct general obliga
tion of the second
largest city in Canada.
Price 100 and interest
Yielding & '
(Fer payment In V. S, funds)
CfrrtiMr en requett
for I'E-iti ,
The National City Company
rhllnd.lphfa 1421 Chestnut St.
Atlantic City Chnlfente Dleck
1295 Boardwalk
An Unusual
Recerd of Earnings
1 Since its organization in
1912 as a New Jersey
corporation, the Havana
Electric Railway, Light &
Power Company has never
failed in any one year te
earn well ever 24 times
its total interest charges.
In 1920, earnings were 5.24
times interest charges, and
for the first six months of
1921 they were at the rate
of 5.47 times interest
charges.
We offer the 7 Secured
Geld Notes of this com
pany, due September 1.
1926, at a price te yield
7.35.
These notes are convert
ible at an attractive price
into 'eng - term mortgage
bends.
Write for descriptive circular
Hemphill, Noyes (3), Ce.
Membark New Yerk Stock Exchane
Franklin Bk. Bldg., Philadelphia
New Yerk Doiten Sernnten
Buffalo Albany Syrscuie Daltimere
$77,052,570
New Issues
of Railroad, Public Utility
and Industrial obligations
were offered during the
past month, as compared
with $340,519,390 in Oc
teber, 1920.
Decreased demand for
money by corporations,
and lowering interest
ratrs, should prompt in
vestors te consider securi
ties of the best type at
present prices.
We have selected several
examples and invite re
quests for our List Ne.
7345.
3enbright & Company
437 Chcttnut Street
Philadelphia
New Yerk Chicago
Bosten Detroit
If There Is a Market
We Can Find It
We held sales of htecks
und bends every Wednes
day, charging $1.50 en
trance fee for each item. Our
weekly catalogues and postal
card service reach iery mar
ket. Wc take pleasure in
furnishing quotations.
Barnes & Lefland
Stock Urekers unit Aiutlimrrrs
147 S. 4th St.
Yeu can protect your property new.
Hew will it be protected when you
die?
THE PROVIDENT .
Lire and Trt'HT C"irNT or PintADiaruu
Fourth and Chestnut His.
Ucmbcr uj ttilfiut .'istne Histem
foreign Lxchange Explained
Ash for Free titxklet F-2
Wm. B M-Kenna&Ce.
221 Seutli iStli St., Phila., Pa.
Ilrll I'Iiuiisi Locust I77H
New Yerk Patariea
INVFSTMF.NT
SECURITIES
??mupl I'cCrpprv & Ce.
Uembcrv Phila Utevl: rxrhnnga
Franklin Hank Hiiildin
T1MMIII' NOTirrs
Sailings from Philadelphia
FOR HAMBURG
S. S. "Chickasaw" (U.S.S.B.)
SaiiincNev. 12
S.S. "Westbroelc" (U.S.S.B.)
Sailing Nev. 24
Hudsen Shipping Ce., Inc.
A vents
LAFAYETTE BUILDING
PHILADELPHIA, PA.
Hell Trlrimune
l.emburil 3 '.'HI
Ktjslunc Irlcphnnr
iuin Biua
D xie Steamship Line;
PHILADELPHIA te
Brictel, Manchester,
Glasgow
U. S. S. B. S ' S "OPELIK A"
KXI'KCTKI) TO SAIL IIOl'T e. 10
U.S.S.n.S S "WPOIMIANSIE"
KM'KCTKIl TO C.UI, I.ATI. Ml ,
t ceNncr.r.Mi; ktiw
Harrus, Megill & Ce., Inc.
25 LafaycttQ Uldg,, Philadelphia
Lembard e21rl Main 70?"
KERR LINES
9
tfI
Spruce 8201
fHHUlSV
Particularly
LIBERTY DONDS
VICTORY NOTES
TREASURY CERTIFICATES
WE arc able te give
an immediate net
price en any amount.
BOUGHT-SOLD-QUOTED
SECURITIES DEPARTMENT
Commercial Trust
Company
MVr Fadenl nre Syittse
City Hall Square Wtit
IT'S FREE
"The Dividend
Payer"
The magazine of tlte
Stock Mnrket, published
by uh werldy nnd contnln centnln
i:i t tip lnten Infornintlen
en tei'kH nnd tlninclnl
conditions It will come
tn ou regularly. Just for
tin tmkltitr . Send for
5 our copy today.
Edwin E.Kehn & Ce.
Members Contelidaled Sleck
Exchange of New Yerk
1522 Walnut St, Phila.
New Yerk Irriilen ljlen
i'i" r n !tn ii
-.l
Pntlllllr.
H'lfletnn
(F -
WANTED
Additional Capital
(FOK EXPANSION)
Manufacturing company de
sires hervices of reliable
financial institution as Fiscal
I Representative.
B 622, Ledgei Offlce
s
-
WHY lias no Invester tur lest it ilnlUir
of prliu'lunl ir InteiYxt en nny hem.
rltv liencht of . V. -trm. i. Cn Writ,,
ir iur lioeUlet 2-l ami Irurn (lie re.isnn
S. W. STUM'S & CO.
htnek llreli nsr Itlile . rhlliiilellil i
BONDS
BfocFget&Ce.
Real Estate Trust Bldg., Phila.
AUTOMOBILE
INSURANCE
I.lltri'.TY .MITIAt. INsl'ltANCi: cn.
Vhriiplnrust HflTil 2(-Si s0 Iflth ,st
Certified Public Accountants
Drcxcl Building, Philadelphia
Steckwcll, Wilsen & L.nvill
Lcruueu rubuc Accountant.
Land Titfe Bldg., Philadelphia
riNwrixt,
I l), ..,.., ...i LiiS,'u,.,llW.U COL
1.1KUII KMIiAM. i.StiMCi llltlltu
i iii-i.u mi. ri.it i i..m uui.ti
IIOMI Dl'K ll'l.V I, 11137.
Net Ire is liertb i,Kri Imisu.int te lb.
,rnn if lif rretiBiim ilateil Jj 10(1 ,
that tht umlurslemd tts 1 rutt m recslv
rm el iiruiesa a uvtn '2 I', M . en ths Dili
de uf Drrrmbrr, 1031, far thn ! ta It it
bends ns Kl.ove !fH-rlln,i. ru.1l tut te u.
t v sum of 4 10 i0,r, ti7. i i n uuders cn
rtterves the rlnht te trjsct uny or all tsu,'
rs. In whole or In pnrt.
111U NEW YORK THUST COMPANY
Trusts
By A. C DOWNING Jr
Ai-i.'int fserstarf
Vw Yirh Oftnr ?7 JD31
fur. ncKi:iiTe"nii itilir ct)Mi' e
Nm"n i i 1 HIi Mi.'l
nctnlvcil Ti.it the liearl f Dlnr-urf r '
Tie Tutkprten llnliuiil Cnipr.inv Ikthin
ill c!. ire out of thf ii 'iniu Mr xurniriKu uf I
tif reniimn ,x spu-,il ills- iji0m if mir ,
ili'lur pr -luirr. ii.eul)l" mi Dnrmlirr Int.
'011, Hi th Oftlfi uf tin In i-uif- ,
Ureii"! Il'i'Ul'n ' I'hlln Ifli i i 1' i , te Pre
ierrtil HlerK'in'ili th uf m wi 1 ah t.r 'n
I MmUr ldtli I'i'JI ,
! Krar tUinal hI ari lit iuhtIH Inie full I
"llirfB en or Ii'ipri- mer ' r T 'If lllJl
i f te pnifr1n.tli" In n h Ht'-lrlK Itlen
Tliriipnn'n l j'ltTpi n.utan
Mi.'. 1 lUil TO lllll.lll It or vnsl '
i vam.v nn.iTii:. tn. Ftini'MKNT
tiu'st f i'UTirifTi:s si:kii-s - ' ,
Nevlie In li'rab) Bli-n f t hn Company I
will rfrt.em all of the out-' u line I a Sin
I nitit Truit Certlfli-iien htif ', B ii,
anJ accrueil dulilcnl en IIiti-mIht 1. ift'i I
utter Wlllt'n iiuir in iiini if uren halt
rerilftemih w II iva l'Hymnl will he msill
ucn presenistlen nnd surrender rf tlie cr.
Iilrates at thn effl"i- of ihn nnderslsi id
iY. PKS'N YIVAWIA niMI'tXv fun : IN. I
AVNUITIKf- ' "ftu
M7 Chennnt '. Plil'a . r. I
Mtlnr., ! I'liH'llnnw
2 fun neiti or iiitr.cTmts ok
!'( I Hurt! Tlllr iinil rnit Cemnum
'iil II 1 ll-mnn i hair n i of n,,rri
i. n V l"irt I- Prelili'f
",.r ', h"!.u" V1'" ' "ni1 H airman
, . I In m r, minlifr
( .in I .u ic. I -. i anl iltU
Mr i in' M ulirUKCrr Tr-i-iire-I
'.n r i l'!(m rt rre'
' 'illli'H V P tl'l'l'v A.m Ir- f Offlen,
niTldrnile
Miitrii riuiai'i.i-iu
n:i-r umi-!
rhUi.lilptllj X i r In 0 if, .
Th lleii.l of Dire I if h- t'lj u i" 1 .
ifirfil a rni.flnl il v ,1 n 1 hi i,. m, 'hl
NmemlM-r IS te hl.uk ,.r r ri v.,?,,1
1 IIUI i h.,kr nil I in , 4c"r
H Uf V i-rillll' I ) rr tnt-
frniies iN
l'"TMIt Kt.ll. Mlt MisletiN v
inAlll I IIMIIinxi) )MI',
f.pal (1 iiiopemis, will I ,e u, j' ,
effli-e of tha rirniiri. I., hji u j-, . ., "'
,My. 1.I.SJ! Wllllm .' I N-v v,uLti
V. up te 13 e'rlmk nimn en Nefinlii r
1021 for al' te 'In' 'Im-i,-,, of thP VIT ,'Z'
IIAIIKOA1J ITJMI'ANV r,r,t Cone (u d
JMijUr n i'er Cnt H .n.ls te tl. .
,ort of li;.'.-0 for thi sli.'tiiB fim.i um"r
the terms of Utl.lc Third uf the Mertpiui
t th.it rempaiiv te 'I ha rarnmiv I , j ,',K,i
TniKt Culiuuitl . iluted Neieinljtr J lh,T
t I ' llrlH I'll 1 I r) I I .1.1... .....
iaHL l null for Hi" .ink nit iui v at i
net te iv 1 l1"' J"d mtiri l
Diir-
piii.ii
Jill- lAHM'll-- l"N Wl) rill'ST
Hv .TAMF-i II I'l TCKIN- prt. noent
patfd Nen VerU Nev I 1021
Jehn T. Dyer Quarry Ce.
Iliilnr IX ilill.lird IK'ji
BIRDSBORO
TRAPPE ROCK
Harrison Bldtj., Philadelphfa, Pa!
Vttnblltlicd 180 lletb fhenet ti
Bseeaqii 111
Invest Your Future Surplus
At Present Interest Rates
r SIX MONTHS' TIME the rediscount rate of
some of the Federal Reserve Banks has de
clined as much as 2SA points. There is every indi
cation of a continuation of the present downward
tendency in interest rates.
New bend issues are being quickly absorbed at
a lower interest yield than has prevailed recently.
The market value of old, seasoned issues which
declined during the period ef'high interest rates
is steadily reviving.
The Halseyr Stuart 8C Ce. Investment Plan
Enables Yeu te Buy NOW
Investors who would like te buy mere near future, we advise you that NOW 13
bends today than their present available the time te make your commitments. We
funds permit, need net wait te purchase shall be glad te submit a list of our bends
in a less favorable market. Through the for investment of the amount you may
use of the Halsey, Stuart & Ce. Invest- indicate if you will fill out the blaiik form
ment Plan, bends may be bought NOW below.
te be paid for during the next ten months. , rjsc This Coupon -
AninitialpaymentofenlylOparvalue f halsey stuahtbce..
is required the balance in 10 monthly ' Land timc uidS. rwiatiemhia. ipa-se.
vn.nt. Please send me li and descriptions el bends from which I
pdyjiK-ms. 1 mamakeMeaionserti,e investment cl$ - iTiT
An additional merit of this plan is that 1 umlcr Halstyi Sluart a Ce. investment Plan teTieid an
it promotes the habit of systematic invest- J dveragcei about.-- .--...
' ment and Steady accumulation. Many of I Check below the tpra of bends in which you are meat
our customers use it regularly whether 'dvnment Clndrui DM.,
they are buying small or large amounts 01 1 jiiaiireid Q Public Uniuy
bends. J .
I uiame .............. ... ............
If you expect te invest $500, $1000, 1 S(rttf
$5000, $10,000 or mere in bends in the '"
I Cily
HALSEY, STUART & CO
Land Title Bldg.,
CHICAGO NEW YORK PHILADELPHIA BOSTON - DETROIT MILWAUKEB - ST. LOUIS - MINNEAPOLIS
THE DIRECTORS
CCORGE BURNHAM. Ir.
WILLIAM WOOD
CHARLES WHEELER.
CHARLES E. INCERSOLL
A. A. JACKSON
SAMUEL M. CURWEN
CLARENCE: M. BROWN
STEVtNS UECKSCHER
Central National Bank
of Philadelphia
Chestnut Street at Fifth
Capital 3i,coe,oco Surplus and Undtuded Profits Earned $4,4co,eco
UIIIIIIIMIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIi:
EQUIPMENT BONDS
We have iirepii'cd for distribution a circular dis
cussing Equipment Hends from the .standpoint of safety,
marketability and rate of income, the three element
necessary te un ideal investment.
Cepiie aciu upon rcqucat
EST
l.-ill ttulnut Mrcet n; linimiwv
1'lill.iilrlphlit MrmbfTH vr,( t,rh ( tj
New Yerk Mni'U Vidians:
rlilliulrlplila Murk i:chiitiKC
niiiiiiiliilliiiilliliiiiiiiiiiiiiliiiiiiiiliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiii'p
Sales Manager
lllsli-crudn nredurrr who
tut or In
tnniililr of drrleilntr '"iilfs I errc
for un Issue of tnrrlt iillh u Ian liar
miIiie en rut-J terms,
Appl ''J lr ltli full lift ilU of
inlet connrr'lent. be'rfte coiillilrnie
u.hiiri-cl. I'. O. tVev MHI.
HENDERSON & ICEb
Member a New Yerk and '"'
Philadelphia Stecl; Uxchang
1410 Chestnut St.
Competent organization
Cern Exchange Nat. Bank
LEE, MlGGINSON & CO.
' t.tubli.U.d 1UI3
BOHTUN NEW JUrtli CHICAOO
1306 I'Mnnnce Dlds, Philadelphia
INCORPORATED
Philadelphia, Pa. Telephone Locust 4820
It
OF THIS BANK ARE
AVERY D. ANPREWb
J. BARTON TOWNSEND
C. rRED'K C. STOLT
BENJAMIN RL'bH
WILLIAM POST
CLEMENT B NEWBOLD
CHARLrS E. MATHER
HARRY F. BAKER
& CO.
Edwaud B. Smith & Ce
1411 Chestuut Street
ll-niLxri, .s 4u,n iJia I'ejiudsipliu
Investment Securities
I'hilndelphta 'Cw YerL
GEO. A. HUHN & SONS
Mrmhrr of ti,,. I-l,i d-l,,!,,, NVlv
.L"-uratri feecuted In
.u A." e p"nPi" Mhrkets
Liberty Bends Bought nnd Sold
lltllryu.. Court II ,1B UIH W Inu? H?.
V . Ill HreiuliMi), Alliinlli' C'llv
ii,h .tlnr 11,,"" ' "'
C. S. PATTON & COr
.11) l (I1VSIMT Slv
BANKERS
... hurirn,ur In
ii a HA,,l'It HTi;VI'-N60N
tlpuibtrsJHilin. stetk Klnf'
State of fvlicitigan
Twenty-Year S2 Bends
Exempt afrem
Federal Income Tax
Legal Investment for Savings
Banks in New Yerk,
Massachusetts, Connec
ticut and ether States
Price te yield 4.85
Complete circular en request
Harris, Ferbes & Ge
Pine St., Cor. William
NfcW YOrtA
PHILADELPHIA OFFICE
Widcncr Eldg.
Telephone Spruce 7010
The
Public
Utility
Situation
iV annlvzed and dis
cussed in a special cir
cular whi'-h vp have
i u s t prepared and
which also sets forth
t h p. latest develop
ments in
Columbia
Gas & Electric
This circular will be
sent upon request.
Ask for C-J9
William W. Cehen & Ce.
- ' . "v ,Ye k Jiterti Exchange
)" r, Cotten Kxchanet
" " .T,',J f Trnil
67 Exchange Place, New Yerk
fcipecial 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, Hosten, Detroit
Cincinnati, Columbus, Teledo!
Akren, Youngstewrt, Daytea
Denver, Colerado Sprlnga '
. ' . . rrr --JX.
l ,',
Y
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(J
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is
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