'TW7T "A vV'VW? ,'''!, 28 V BVENIa KJBLIO BDaER-PjaillADEliPmA', TUESDATr, NOVEMBER- 15, 1021 KJtm&Mmait&Mmmmmm NEW YORK BONDS ? jVcu jue ' $10,000,000 State of Rie Grande de Sul (UNITED STATES OF BRAZIL) Twenty-five Year 8 Sinking Fund Geld Bends External Lean of 1921 Due October 1, 1946 Repayable, through Sinking Fund or at maturity, at 105 and acerued interett Interest payable April 1 and October 1. Coupon bends in denominations of $1,000 and $500; recisterable as te principal. Net callable prier te October 1, 1931 After October 1, 1M1, callable for the Sinking: Fund or redeemable at the option of the State of Kie Grande de Sul. as a whole or aa te the larger portion outstanding en October 1, 1931, en any interest dale at 105 and accrued interest. Principal, Sinking Fund, premium and interest payable in United States geld coin of the present standard of weight and fineness, wtheut deduction for any present or future Brazilian Government taxes or any State or Municipal taxes, present or future, of the State of Rie Grande de Sul. Principal and interest payable at the office of Ladenburg, Thalmaim & Ce., Fiscal Agents, in New Yerk, interest also payable at the offices of Lee, Higgitisen & Ce., in New Yerk, Bosten and Chicago. As a Sinking Fund the State of Rie Grande de Sul covenants te deposit $400,000 annually in quarterly payments until September 1, 19.31, te be applied te the purchase of the bends in the open indrkel at net ex ceeding 105 and interest, and te add net exceeding $20,000 annually as required from time te time te pay premium, if necessary, in purchasing bends. After October 1. 19M, the State covenants te redeem by let at 105 and interest en April 1 and October 1 of each year thereafter until maturity, one-thirtieth of lh' amount outstanding en October 1, 1931. Any bends outstanding at maturity are te be paid at 105 and accrued interest. FINANCES: Revenues of the State of Rie Grande de Sul for the last fifteen years have in ' every year shown a surplus ever expenditures. CREDIT: There is no record of default en any funded debt obligation, either internal or external, of the State of Rie Grande de Sul. RIO GRANDE DO SUL: Area mere than twice that of the State of Pennsylvania. Popula tion ever 2,000,000. Principal cattle, sheep and stock raising state of Brazil. Because of its temperate climate, it has the most diversified agricultural production of the country. One of the first three states in Brazil in manufacturing and in the value of its imports and experts. Packing house products, meats, agricultural products, hides and wool consti tute its most important experts. SECURITY: These Bends are issued as the direct and general obligation of the State of Rie Grande de Sul. They are specifically secured by a first hypothecation mortgage or charge en all taxes imposed by the State en the transmission of property, en inheritances and legacies and en the net annual revenues of the pert of Perte Alegre. These taxes and revenues are estimated by the State te amount te ever $1,220,000 per annum the max imum annual requirement for interest and sinking fund of this issue and the State agrees te mortgage such additional taxes or revenues as may be necessary te fulfill such require ment should the income from the taxes and the pert revenues new mortgaged be- insuf ficient therefer. SINKING FUND: The Sinking Fund provides for the retirement of the entire issue at or be fore maturity as mere specifically stated above. DEBT: Total direct debt of State, including this issue, at par of exchange is $37,701,513 or about $18 per capita. Contingent obligations, consisting of guaranteed city bends, at par of exchange $5,012,981. PURPOSE OF ISSUE: In accordance with Law 272, November 1, 1921, the proceeds of this issue are te be used for the improvement of transportation facilities of the State through construction in connection with the wharf work of Perte Alcgrc, channel im provement, the installation of equipment for coal properties, and for the retirement of funded debt of the State. Wc Recommend these Bends for Investment Price 99V2 and accrued interest, yielding ever 8.10 en repayment at or before maturity at 105 and accrued interett Bends offered jet dehreiy '.then, as and u issued and received by us. xubjeel te the approval of ah lral i counsel Messrs. Van tersi, Marshall y Smith, of Ncxv Yerk, and Messrs Ropes, Gray Berden if Perki.is matters bv our of Bosten. LEE, HIGGINSON & CO. LADENBURG, THALMANN & CO. Th tatementa contained in this advertisement arc baled nn infarnutian obtained, partly W cable and, (rem official and ether source, which we believe te be reliable but de net ruarantea. '.miMliiMilli.Hif i GIVE YOUR TIME TO UP BUILDING YOUR BUSINESS LET US WORRY ABOUT' YOUR ACCOUNTS YOUR credits are neper a certain quantity. Right new they arc mere deubtlul than ever. Pest-war conditions have made many lines of business unstablc,.irrespectivc of high prices and apparent pfdsperity. Credits today ere largely e matter of guessweik.. Commercial ratings offer no protection. Col lection agencies pay only what they manage te collect. But A Credit Insurance Policy in- the "Londen" is en absolute guarantee against less from cov ered bad debts Yeu ere absolutely sure of get ting your money en any covered account, and you knew just vhen you'll get it, tee, whether we collect it or net. Give your time te promoting your business let uj de the worrying ever your slew accounts and bad debts. It's the surest way. Asking us for particulars won't obligate you OUR SUPER-SERVICE Lesses Paid In AmcricanCurrency .'?l!TyV AT YOUR SERVICE Established JreFfc& Eighteen Sbttyninc LONDON GUARANTEE AND ACCIDENT COMPANY LTD. K. A. IRVING. General Agent-Credit Insurance Department Stokes, Packard, Haughton & Smith, Manascrs-AII ether casualty lines. Bell Phone-Lembard 41W 434 vValnut St. Kevitene.MMn 4IM Fastest Service In Philadelphia ODD LOTS KARDOS & BURKE H24 Walnnt Street Philadelphia Phene Spruce 80 Government Bends Investment Securities EDWARD LOWDER STOKES 20 Seuth 15th St. Philadelphia Ltwuxt 0dW Hacc 3539 Tennessee Power Ce. First Mortgage Ss, 1962 Samuel McCreeiy & C iiuerj i'Kin. BtoeK uxehaugj l'rankltn Bank nuid!njr Buyer Sails for Germany te purcl.i m MKltCIIWIMSK for UHOUK'AN 1 IltMS, ttellld UUe te Ikmi'AiuI" a ffw meiv (Inns, who SAILING H OSS. LBQQEn OFKJCl!., Unlimited Credit Insurance The American'? Unlimited Policy does net limit the number of customers you may sell, nor the amount cf insurance you may collect; and it of fers you the privi lege of settlement during the currency of the policy. It may be used ?s collateral with banks. Investigate! Payments te Policyholders ever $10,000,000.00 7 AMERICAN CREDIT-INDEMNITY CO. of NEW YORK E. M. TREAT, president ISSUES -STANDARD UNLIMITED POUCIBS W. J. MORPHY, Manager .1. F. IMacTADDEN, General Agent 1011 CHESTNUT STKEET fiieiii niiH-n 5 mi J Philadclph.a, I'.i. Estates of $5000? Statistics show that estates of $5000 and often times mere arc dissipated in a few years where there is no trusteeship. We assume the responsibilities of a trustee, which assures the future of these you wish cared for. A consulta tion with us may et your mind at ease en many uf your financial responsibilities. THE REAL ESTATE TRUST CO. 1 OF PHILADELPHIA Bread and Chestnut Sts. Canadl'n Nihil fl'i rein 1.... 10474 1.... 104 1.... 105 Chile Cep'r 0a fl 81U s am 1 8Ui 81 Mi ie sin Chlatre Geve't IMC Illy On tSALNB IN 11000 I y, k WrY tt: "7ai-- uirtniriniv te iiiiliviU- Hi estates wkept &Pt.ly in Ul' VUU ilE PROVIDENT Ull AND TUUW CC.UPANV 1'llll.ADM.ruU ''"' Fourth npl Chestnut 8t. l,mhZt riral mwv. '"' J ieaay rer business Cern Exchange Nat. Bank 41!i, 4 2 VI 43 i 4.1 43i 48l City of Bergen 89 rets 3.... 103V City llerne 8s 1.... 100 4 100 Cly chrls'a fl i ... 105 1 103 City of Copen bum 014 4.. . 86i 1 . SO I . 8rt 13.. .. 86 7 .. Sit Cly nie de Ja Nerle 8s 100'i 100 It Cuba Si '01 ll 82 1 8U4 nepub of Uru guay 8s 1.... 102 . 2.... I01i 1.... 101 14 1.... 101 U State of Hae Paule ct 8s 1.... 100H 4 ... 100U a.... 100 1.... ioev; 1.... ioew Swltss'd Cen 8 6.... lit 1.... lll'i 1.... lll'.i U K art Ilrlt & I'd 11)22 r, oe'-i I . . 00V4 00. ... ODVi 10. ... 09i V K Ort Brit H I'd 1020 A3 .1. K. V 10 1. 10. 10 3 00 ; 00 ooh 08 Vj oe; ne'i ne1; ecu 06 v, wv, 00i 90 , 10 ... 29V4 CM t O W 4S 1 r.4,i Chicago Ij H & Rest Si IS (sale) TOVi 10 (sale) 70 H Chi Mil fc Put Sound 4s 0 OS3 Chicago Mil ti 8t Paul 4s 10 71'i 1 ilVi Chicago Mil Bt P 4s 'as 6 76 J 70 tChtcage Mil & BtP cv 4 "is 14 03 Chicago Mil tc St fd (1,11 3 S7'i Chlr-aue Mil fc Htl em 4,ii 6 80 Chicago Mil I St V cv B 1 05 C X; Nwn a'4 1 C8'i C N W 04 100 (J K (Jit Ilrlt I'd 1937 04'1 l4'i Ut'i 4; 94'i 04 U 94 U 9('i 94 . 94ij 0(1 (4; OP OtH . 100'i I' A 100 :. 0B'. 3 we ; 1 ! 90 .' .1 . 99 K 25. (I 99 s4 28. 3 ICJO 1 99. 1 1 . 100 1 r. . 09 V 1 tn 09T. I r. 7 . 99" 1 1 1 r. . 9i 0 .1 . 100 19 City Zurich Sv . 2 . . 106 I 15 Cu'ean A S l! I' S 1 . '100U1 12 Cuban C S evi 17 .1 . hii. r. 1 . 02 I 2 10 02 I I 4 ir. . . . 9 c 11 1 1 . 1 .. . T. . . Cbt & 4 . . .1 106 U , 106IJ . 106i & V ft . . 74i, . 74 ! . 7!1 . 7i W I 45 , . 66', . 07 C N r 4i '60 2. .. 92 15 02i Cl'd Cin Chi & Ht L, gm 4r 1 72 crd cm cm k St r.e 6s 1... . 03', Cole 4 S 4is 1. ... Sl'i 1.. .. 82 04 H Cent'd Oaa 7i ec;i Bcj-zII 8s, 112 103'i 103i 103i C O S cv rtl 2. . se8; ' Cuba 11. Ce 5s' J.. . OS'j I 4. ... 08'il Denmar!: Cen 1 ct A Ss I 0 . 1 0R H I I . 106 1 . 10B ; 1 . 105'i D Canada '26 a ... 031 in. 1 1025i Cum r t T ti 102'. 1 . . 87 1021-i 1 87 102i fn (. It O M 102'i 1 . 47 1024 Den & 11 O 65 1024 1.. . 9ii 10'.'", iDes Moines i. I02ij Tt D 4s n 11 'i Dt Edl Ce 05 1 1 07i ,D de Nemours I'lKl'l 7 'is 102'', I III214 102i 102 1, 102, 10-"-; hi-- 1 I) CanadK. '31 V H .Mexico Is. 1 .94 s; 7 . 94 Gexr t I'renth n 7'j9 rct5 3 3 1 in I 5 2' 1 It.. 1 . . I 3 10 5 10 30 111. 20 I I . . I 1. . . C!ee t 1 1 li" ! 1 10 in 5 9 95'i 95 95 'i 95'; 95; 951, 95 , A S 95 , 1 . . 3 1 V S Mixtc" 5 5. . . 50' Am'n Agr'e Ch 7'js . 99 'i 1 102 102 101 ', 10!'i 101 ; H12 102 1 V Am 1 95' 95',, 95', I 95, H5l 95. Amn "I" d: T i. 95', 95 'i 96 96 06 95'- 96 I . . I I A 111 11 1 06 , I: mis; 101'., I 101 't 101 'i' 10 101 lj ii 10l'i Am'n 101 i 1 1. -,Duq l.lgllt 65 3.. .. 98 12 'J'enn Va i- 99 "i C en 99'il 1 . ,90'i 99', Kit (ient i.fen 100 I 1.. .. I2i 100 i:ne Itlv c 45 Kb 55 4 50'; . M'ilKrle ft est ) . SI', I 0 . .. 90'.. . S5 'l'lk Itub'r Ce . S1, I 85 rcls r fit I ... . 90H 97 I I. . . 99, T 55 1 . 91) "i 91 Gnedear T t 91'4 K 8s '31 nl 91 1 3 .. . uiH, 91 1 7 99, 91 '. 3 99 91 't 1" . 99', T 65, 10 . OOtj 1113 toedpar T & 103 1 Itub'r '41 17 1. V 105 105', 105S 105' t 105, 105' 10 1 T '. 5 1 lirium 101 H 'Ann Arber 4 V e,i Ordnby 80 S & P 101 1(11' tot';1 1. let 1 101 u a 1 101 2 Trunk 7 10S',, 10R, lOBtj 10SU 108 '.J 10RV, C M'K 8s 81i; B4', N't'n rtly lm A T 8 I aj 2 . . 83 Can Us rct5 1 1 9 73 U I S Pe 4 1 . S2, 100 . S2'- I S2'. 1 S2'.j 21 s: s G Nth'n n 75 A Coast L. cltl 15 2 . 7t,, 35 A Ceat I. 79 25 97 . 9S 9i I 07', 2 . OS 1 . . 98 1 . .08 1 ... 105 9 . . 08 AtlV Trult 7s 8 . 97 ; 2 .... 30 S . . 07 , 2 ... 30 1, 0. ... 97 6 . 3d Jhp Cime't 1st ' Atlas Powder 1 . . R5 Ce 7i3s Jnp Ceie't 2d' 1 ... 100', I .. MH' fl.. . loot 1. 106', 104 tOO'j ti)0'.j 1061, lOO'j 100j 106 100', 1061, 106i 100'i 106 '.j 100 V, -' . 1061-j Hud 1 Man frl ... 71'i 2 . . 74 111 Cen 4 '53 t . 86'i 39. 3S . 10 Jan Cec't 4 ' I.. .. 09', 1 09 I sis. Halt & Ohie cv III9 Cen'I 6',5 1.. It. 73'. 73 1 106', 106 K lielglum 691 1 73 1 73'. Ills Steel 4i4s 2 ... 1)6 IHiUt & O 3Vi Int M ct 4-jS 10 ... lid 1 R9'i' 15 10 I . . . 1i3 ; n;lt & Ohie 4 96 K nels'tn 7 4s 3.. s. 10.1 102-; 102', 102T, 5 103 1.... 103 K Ilelg'm ret 9 1 1. . 1 .. . 7C, 1 71 nalt i- Ohie .". 1 70 '-j 1... . 70 - T0S Halt i. Ohie fin 70 iv 95 , 93 1, 05", 95 , 95 95 1.. 1 . 1 lml' 10 1 1. t ! 11. 10. 1 e P. 10 10'i T fd 55 55 n.ia 55 V, 33', 35 '. 55', 65'. 101' 1011 104' lOml 23. . 1(11 , 20... 10O., 4- O P 1 mil' , w x I M Marine 115 1 . 1 i: Iven C i 1. . 70. 6 11 . e Tel 4 Knn C I . 5S 10 Bell Telephone Kelly Sprlnc'd or Pa 79 Tire 8s S6'i 86i; sr.ii 86 1. S 39 01 ; 01 H 59 SO' ICuigdeni Den nis rl. ct 8 I. .. me 2 1 i1(l 1. 106', 1 1')d'., ! 5 107 1 . 101 8.. Kingdom Ner- " Steel 59 '36 5 . . 102H way ct 8s 1 S5i 5 . 102', 1 100 Pln Hdl cm t Lack Steel '2J 5 . I06, 1. .. 1001. K Ituly 6,n 1.. . 01 K Hwcden 05 1 91 I ... 9S Itrkn i:dl I 75 1 105'i nrkn llBpid T S 9 2.. . 05i. 1 . . . 95', Queensl'il V.xl 1 ean ct 79 2 .. 104 95 'J I ct 75 9tft 4. . . 53 Buiih Term! 3 1 79', Ctl Leather 59 1 93'. 3.. .. 97 I.ake Shere M a 4 j 2b 4 8Si 0. ... 80 1. Val en 4V49 1... . 82S L & Mjers 5s 1. . . 00 L I Mern 7s 1 110 1 . 101 I .1. .. 10( I 3 101 I 2 . . 1(11 I 2 . . ln4 1 ... 104 I .. 104 1 . 101 3 .. 10314 1 . Ki.T, 1 ... 103", 2 . 101 - 103'. T! Chile ct 20 10 1 I ( IO 90 . 90', 99 , I 99 , 99 , 90 . 99 . ' 09 , 1 HO'! 1 Cent" 1 Pnc lt I. Ild H 6s "37 I 2 ... S.t 1 71 Cen'l Pae 3', I.erlllard C 59 I 2 . R3, ' 1 , 89', I 1 . .83", Le Cm i- l.c.i 1 3.. St Ington I149 Cfl P S 1. I. 3 90. I I. . 74', l.e I- Nash Is Cerre de Pa 9 1 . s,v. Cep'r Ss 1 h5., , 1 . .. 110,Markei Bt Rly 1. . 111'.1 S I'ran Ut 1 Hsalp) ill 1 1 111'. 4 1 1 Che5 &. e 4 . 70 79', m 3 . ' 4- O cv 1 . . 3 ll 5 . . . Sl'i SI', SI SI', Sl, It Chile ct 1 99V l- 81', 00 6, dies 1 O cv Aa ct '41 5 SI'. 101 J . Rl'i 101 10 . 81 101 4 . SI lufl'i 3.. . S4 100V 1... Rl 3 1 0 1 100. ,C'e 1 (l IUch It Chile d '40 4 A Hiv 1st 1 . . 70 Chi IU Q inn S2V. ioe; mi 101 101 101 nil 101 100'i 100 . 100'. 100 ft Cuba tV,H I. 0 10 71 '4 71 71 4 C 11 I . I 20. 3 10 5 8 . 1.. te.. HUB . 105 . 105 . 10.1'i . je&u . 10514 . 105i . 1051, . 105'i 103',; C &. JC I ct 4e 0 .. 9i 2" 29' 3 . . 80 Me Petr'm 89 10 .. 9SU 3 9S. Mm i hi I. 3 .. 35', M .SIP & S Ste M 6', rets 1 100', 1001, 1 .100', 3 . . 1001, 2 ... me, 2 .., 100', I . . 100', 100., Me Pacific 4s 1 ... 68 .. 88 U 2 . 5S'. M i: O Ht L li Carle 4 1.. 70 , Ment'a Pwr n 2... . S9. I . .90 3 00 Mer's Ce 4VtS 2 83', 2 R3V, N Or'a & T 4 s 7 68 New Or Tex I Mcx Ss 6 flfPi N T Ct'l 84 1 .... TO N T cent'l 6i J 07 2 .... 97U 1 ... 97U N y centl 7 I 103 N Tk Cent 1 f. Shere fl'is 1 00V4 N T' Light H & Pwr Ss 2 00i N Y P.ys ct 4s 10 27U N Yk niys Ss 19 714 N V Ilys ct B9 4 .... 7U 10 0 N Yerk Btate Itlys 4'ie 3 C0'4 New Yk Husq Wn fd 1 68'i 1 OS N Y Tela 4 'is 10 8614 1.. .. 87 U N" Y Tele' 6 2 08 1 , 6 20.. . 16.. 4(sale 10.. . 1 fl . 14 3 10 .. . 25 a.... 107 1.... lOO'i Pere Marqt Ss 1 SOU 1 87 Reading Ce Is 2 79 1 791 Itep'c I & H 6 a no rtle Grande S It It 4s 1 10 St L I Ml t B 1UO dlv 4 2 74 St l A S V el 1 . . . . 09 1 08H 1 68, St l U S V In 2 M4 r... .. 51', 10 51 T, 20.. . of; Si T. t B Iran Series A 3... . 66 2. .. . 63, 4 65. 10 . . . 66 08'i 1st 1. ft M Kran 09 ! Series B 99 15 .. 79; 98'il 1... . 79'i 98V, 1 6 . 79; 99 St LiH Kran 99 gm 6s 08'! 1 . 100'i 99 iSl I, 98'4I s 8.... 101 Ttilnl Ave aj 3 45 Third Ave 4 1. E(nale) 1 1.. .. 1 98'i ns'; 98',, 98 V. 98 ; 98 ; W en . 6"'i Swn 6c 09 s; . . 70 St I'a ul A K C H I.lr.n 4 6 (sale) Ht f 1 2 N Yk W C ,9t Paul M 4. H09t 4'i MM 4'," 2 S'.", 3 91', Nfk S n It Ss.St P I t Sioux 1... . 47 Nfk i. Wn 4 81 'i 81 80 . Cit 3 :.5 Seue d A 1. ) SeaD d A 1. 119 1 .. 41', 5 . . 9S Sinclair C Oil (erp 7'9 96 1 3. . 81 2 IS' 1. . 80. I t IS', Neitli Ve9fn 2 is Hell Tel 7s S I, 4s '.u 3. . 107 1 4 53 12.. . 100", 1 . 51 N Pacific It 8- 1 . . . . r,8 N Pacific It 4s Shaien Steel 1 . . . . SOU II.iep Ss N raclllc It f. 1 103U Nt'i S Pwr 8 1 05'i 3 Ore & Calif 5s 1 00 4 93 1 'j6i Ora-W It It Ce 4 00i A N Ce 49 6 no', 1 . .75 1.. . nc; 5 . 74 ; 1 rir.; 6. .75 1 . Oil", v.iu 0 t 1: ;. 1 , 30j 2 S7'i ; no', Pan A PetrOi . pet T Ve 7s I f. yt, 13 94 " 1 !,rj " P.P. gm 4ijs 1 . . oei, 3.. . S3 I 10 nr.. 25. . .. 83-i S'n Bell T 6s 34... . S3U a.. .. UO'; Penni It P. 09 S'n Pacific fd 1. . . 14 I . .SO' 1. 92 t . . SO'", Penna It fliis Slh Pai. ei- 4e 58, 43 45 46', 45 4 45 'i Teledo Ht I. & Wn 4a 1! 53'i Trl City rtly & Light S9 1 95 Union Pae cv 1 00U 3... . 89'i 2 604 s... . se; Union Pc fd 10 70H Union Pac 4 B 85 1! .... 85 1 .... 81'4 2 85 7,'nlen Pae 6s 1.... 101 i 8.... 101 U a Rubb'r 59 3 . . 83si 1 1. 4 1 3 4. U 1. I 1 . . . S3, . ... 83'4 . 34 . 83'i ... 834 . .. 83; Kub 7'4a . . 100'; lOJ'i 103H U'd 8 Steel 3s 10 98 'i 9S'i 9S 9)'4 9S 98', 98', 9S 08 97 'i 98'4 98 9S 98 Va-C chem 6s .1 1 1 1 Va -v 1 1 . Ch 90 'i 96 95', 95', 7-9 90', 99 Va tin Ceal & Ceee 1st I . SO', 1 VO'i Va Itw Ce 5s 2. . . SO'l 3. . 1. 1 3 1 3 3 1 . 3. . Penna 1. 3 10 S6'i MI'. 86". SO'i ,V9fn Md 4" I 7 ... 30'. I tV I nien 4 ',9 ' 5 . .5'4 I .V L11I011 0'-9 5 ... 105'i 5. . 105', 100 1 05 ' , WesttngheU9e 1: & Mfg 79 3 105 1 . .1 103'i I 4 . 86' 103'i 5 80 1031; Sn P.eilwav 9 ie3j; 1 mi. 101-, Sn P.jllwav 59 103-1 1 . 86. ma';, 1 re. 103 Stand d Oil of tvii.en c !' I it isi canr 7n ioe'; 1 ie.-.'. 100t,iTernil p. 11 AiWIs Cent'l 4s lU'jt or Ht I 1 I Wilsen 1.. 1 105 1(15 106 105 Ce rv 88 88 93 . 93, Liberty ;:; . . Iiberty 1st Is . , Liberty -M -Is . Liberty Ut 4ViS. , Liberty 1M 4,h. , Liberty I'M 4 js. , Liberty -Jib 4'4. Victory X Ss. Victory N 4--l4s. High !C. 10 n4.::n !4. IK !I4.0 !4.C.O IMJ.liS !)4.0li ftfl.70 1)0.72 1 ljir jm.se !U.::n IU.4S 04..-.0 01.; rs oe.i s 04..-0 00.70 09.0S . 7 t -ie P M 01. Ml i)4.:;e 01.1s 04.. '0 04.00 00.18 114. ."Pi 00.70 00.72 Financial Briefs The average price of twentv active Indus, trial stocks declined 0 96 pep cent veatr- ,.'''.,"!. ,''-30, wh"'' iwentj rallread9 de clined 0.50 per cnt te 72.02. Panhendle rreducln- and n.fnm ,..,,. panv for the quarter ended September 30 reports net incem after rharge9 and Tedl ral taxea of 1230.383, equivalent after prr. ferrd dividends te OS cents 11 share earned en the 108,770 shares of outstanding common stork of no par Blue. Ter the nine months ended September .te net income aftir charBes and Federal ues amounted te Il.140.u3j. equivalent after nreferred dividends te $4.78 a share earned en the common stock. The i.aleR of the American Sieri letaled J7.004.887 in October, or (561 227 !e5 than ti.u-.nu. "t",i ii" nn niisiues9 for ten months ended en October SI airrreratc. $70,214,915. a d.cre9 of 18(1 per ?4nt trem the total for th" corre.pendmg 19"e period. TI'of'helder of the Penn .aboard Steel Corporation at a special me-ting he d yesterday approved the proposed inTPa9e of capital stock from 830.000 te 710 000 shares Part of the IncreaBed stock win be used te acquire the Tltusvlllc forge Com Cem pany. Central Aguirte Hvgar ('empun ar-nual report rer tne jeai ended Jul 31 shows n't I .muuir. am-r wi'lirKri HIK1 in X9 or 5007 K7 equal te 14.15 i share earned en th 15 oeo . 000 r.ijiHul stock of f"ll nar mlu. Th.. n,P,ire,'' "ilh nft lncem uf 13 19t.0J2 or .u-v.wu. in tilt. IUCVIU'JB JCal Nlpl59lnr Mines Compani's production for October had a vilue of J23S.000, the largest monthly output for the year and the first te exceed the correspendlnir mnnti. n. ioie Output ameur.d te 350.000 ounces uhf.'h inti tuimtiiuire a nvw rneniniv record for 1021. favorable developments ,vre reper'e) In work en new veins and lndlrat'ens nre exrefi that of 1019 and ncar.v reu.i t'i it I of 1920 P.eck Island's gi.i9 freijht 'tn . fr.r llle flrnt elever. dv of Nevenilr i c. - d 4 2-10 per cent lle. k l9land ! net nun any 9recll purehaies. It rentls pi ire 1 un order fnr fourteen locomotive, vtirh ti r American Locomotive Corporation .nvevlne J775.000. and 200 flftv-t n remp-isl-i v mH and steel coal cars with the Ani-r.-in car Cempanv. ameutv.lng te 3S3.00u FOREIGN EXCHANGE I New Yerlt, Ner. 1,". -Tim er"nin; I tVl eiln e.TrlltingP llinrket tliis mnrninv I (iirPiespti sterunc ami puililiT" partici- inny RTrenir. inc v.tfpn(;t!i of terliiifr wns nscribed Ie imiireed iiidn-tnal cdmlltieriB la (Jrent Ilritnin iritl llif pniilders wpn mid te lip lii';her en ni -((Hint of selllncr if firrni'in n , li.in.m Tlier was n iepp.ien of 2 pniius in mnrhs, md Danish cxfliange nhn uf. tfi-rd a tlitjlit derllnc. In mid-fnienoen, thr inniket vv.is ir. lesnil.ir with stprliuc Mendj. Mark weie Mishtly improved and tiniv wa- a nntlepnlilp derlinp In tlie Sinndlniilni. TIip qiiet.ttinni follew: Sterling abl' ..071t. drn.nnd : OiV'j : iVanc ..ibks 7.'-0... ilipeks 7.2Sa; llplKian cables 7.IM. ihpcks 7.03; Swls cables 18. Ml, checks l.S.Rfl: lii-e cables MS, check-. 1.17la : ppePtn mlile. l.'l.tVJ. checks Mi.cn : ciiildpr c ablce. Ill 'X, , uip,ks O4.00; Siockhelm rabies J.'Vi), , heels 23.1.1: t'hrlstiania cables 14. 2). checks 14.1.ri; I'lippnluiKPii tables 1 n.:;.,. i-hoi ks 18.a0: marks :!'.). The Central Kmope.in puchanes were heavy today. The prices fellnwM Hun garian. .H)0, : Jime-Slnvlnn. ..'!7i, Capcho-Sluvakien, 1.0; Iliilzarian' .ti ; (Jippk. 4.15', ; Serbian. 1 10 : Polish. .0.11 4: rinnish. L'.Oti,; .iis-' trian, .04. The rate of piemium in Menireal to te day en New Yerk funds was !).i4 per cent. The into of discount in New Yerk en Cunadlnu funds was H 0-:!'J per cent. VEM'liriDtV'S I'lXM. VI ul-ATIliNS sterling ,fiiiiii I. lie Guilders Demand . 3 IK! 7 291-. l.l'OLj 34 81 Cal-19 . . 3 iiSVj 7 .10 J.il j e', TODAY s OPKNINO yt'OTATIONS Sterling francs Lire liulldera Demund 3 00 7 28 4 101. "iJV, Cabl9 3 Ii74 7 2l 1 V0 as ,e DIVIDENDS DECLARED famous Plater-Iaalty Corporation euar erly li en common, payable Januaiy 3 i0 tock of record Det ember 13 Pelar running Cempanv aeml-annual e 13. payable Uicember 10 te jleck of record November 3n ANNOUNCING the j OPENING of the jf PHILADELPHIA OFFICE et Fanning- Company Investment Brokers Victory Building 1001 Chestnut Street Stock? -f Mentis Government Securities Wi Dim I 1'iuatr W'nen in All E.xhmiu' Cei-i-i rpeiideiitx in friiitiial Citir Bell Piieiic, Walnut 7.VS Koyitenc, Hacc 2"t IT fffiMttfti feiWffA-i7:nra?nTO; ggyvvyvsj-eJ9sj We beg te announce that .. .1 O H N F. F I T Z 11 A RRIS has become associated with our firm. FRANK MULLIN & CO. '. hvestment Securities STOCK EXCHANGE BUILIL(. Nevcmbei 15. 1921. Ve recommend Charcoal Iren Ce. 1st Mortgage 8s Total assets 154 times bend issue Largest producers of charcoal, iron and weed alcohol in the U. S. Average earninps of pn-t five years ever 4 times interest charges. Sinking Fund retires S1O0.000 bends every C months. Circular en Request Price 98V'i and Int. HARVEY Fl'sK & SONS (Incorperntcd) LAND TITLE BLDG. New Yerk lluetnn lili-ncii Ituffnle i " 2.C" "P1 B. Cioedjcar 8s. 1931 V Y. Trl. Icf. lis, 1911 Joint Stock Land Hank 5';s, 1951 Wieihih Blm.Philadhhia MtmimWitd NnDYurkSteckl MIWYOtK HUAfTKKJ. mmrn $100,000 Lehigh Ceal & Navigation Ce. Cens. 4Vif Bends Due Jan., 1954 89 and Interest Te Yield About 5.20 r. Elkins, Merris & Ce. Land Title IIMr., I'hila. Vli We Offer Sharen Steel Heep Ce. Firnt Mertsage Sr, Bendi Due 1941 Price 99 and Interest i .1 Pr urn .r,.i, In BrslyBres. &. Ce. 1421 Chntnut St. Philadelphia SE McGlinn & co. !;s Member? AT. V. Stuck .' ';,,,ngc Widener Bldg., Philadelphia Ceerei Ry. i P 5's 1951 6 i 1942 5'j 1922 7' 'i 1930 Am. ice Ce. Real Est. Metropolitan Editor Ce. Henley Cbocelate . . . G.aieiarR$e. IIA.NUI.I Dealers in Investment Securities Uemler .eu. leiK una i'nludtlida Stock IJichangtt 321 Chestnut St., Philadelphia In the t enter of I (twos OppeMte Hread Street Station Organized IS63 Third National Bank i: -- - i, , ja A rri' "r e 'n h ' or, THE INVESTOR'S POCKET MANUAL 272 Pate RoeUltt ' r iijja U ,-u, -.,. , h'S" i . ,- .r.l I .. . A -1 4 - ( qu' en Tl'c elTer a selected lit of Muniiiiial, flailmud uvd Corporation Bends. STROUD & CO. 1429 Walnut St.. PhiladelnM. 43 Exchange Place, New Yerlt Correspei Jtnt Oflcri 24 Milk Street, Boiten 211ColeradoBldg.,WaihinBton ' ' ti" . i-ri -, r i !,-, '1R Iiud Meathr " - ' - ' 1 Ha . ?-. . i S rrtnr. hT " ' re ' r of -: FHF.C -. " .. .. , b ' ! 'V T VT, '0 r-eiri i n y. WANTED EXPERIENCED CORRUGATED BOX SALESMAN Hi. mi. ...i11ruil.i, ,.),., a' rV ,;i"ite"."!iJ '""unrwiia ' i. ' ,u(l" te ui.pe nttneiit Trnilen Mr. miU Vrimiige CASSATT & CO. Investment 11 anker it COUM1SRCIA1, TKUhT ULIJO. , I'blUtleluhla NawTerk Baltimore ficranten rittabursh Lawrence E. Brown & Ce. CERTIFIED PUBLIC ACCOUNTANTS 1650 WVAl. I.SjTATB TIIUST 111.110. limjtn,-ut and aJJuiil Lorpurutlen and nit"urna"Ct0Un" ""' vr(,st' '"" tm 1 U I m 521 t5. Ul ill ;( 8! 1 I 1 ' 'HA J t i i
Significant historical Pennsylvania newspapers