mwmi-mm
i
r'- .,? '
EVENING PUBLIC LEDGER-PHIIJADELPHIA, MONDAY, DECEMBER 12, 1921
09
r LI" """ !"'
Spruce 8200
BOUGHT SOLD QUOTED
U, S. Treasury
Certificates
SIXllllTIES nni'AIUMtNT
Commercial Trust
Company
Member federal Ilenrrte Ssatem
City Hall Square, West
m
I
We Offer
5UO0O Spring allev
Utilities Ce.
fiN 1043
en ii liimls tu j if Id
mer 8.21'e
lv?l
WlDlrllR BLBC. PHIlAOttWlA
' NwYar Stock Exthat
wtw ret ititABm
OREGON
SHORT LINE
CONSOLIDATED
First 5s, 19-16
EDWARD LOWBER STOKES
20 Seuth 15th Street
PHILADELPHIA
Locust 0343 Race J530
lffiPl
e
BIIPQ
1'ennn.Tlranla II. It. f'e. t:iulp. fl 1028-103.1
I'.rle Knllreml Ce. Kqiiln, U' rrlnl
Carthage A Adirondack Railroad Ce.Va 1981
Ihlgh Vnllej l(. It. Connel iWu & 0' 1023
IlufTnle & Mlili"lliirMm Itnllrniiri le.4' 19:t
Onion, Akren Ri'llxvny t'emtmnv ft 1023
MUIkhIimiI Vnllry On A Klec. Ce. V 102
MetreiKUltnn Kd eon Cempiii'V .IN 1022
Ontrnl ti'te Klectrlc Cempiny 3' 1022
Katmulm Viillrr Trurtlen Cempiny ,Y 10411
I'Ulillc SfMlw Cerp. of N. .1. . 7't 1011
Tnyler IVlinrten Iren & Meel Ce.. 6'h 1942
Consolidated Trnrtlnn of N .1. .Vi 1033 '
NjrTcise J.lrht & Tnrr Ce. Cell. 3". 1034 '
Ccnnectlrut K.v. & l.tchtlns Ce. 4V.' 1031
Penn-fcenbeiird Meel Ceinpunr . I'm 1023
Jersey C'ltr. Iloheken A I'-ler-en Ity.4-i 1940
Nsshii A Suffolk I.lcht'ng Ce. .Vh 03
Vnltfd Iii A Tlfctrlr Cern. Cell. loin
Kentucky A 11. 1 1riclnl.i Tenrr Ce. Cum. Mk. .
Isertn Indiana dim A r.lee. Ce. I'fd. stk.
SAMUEL K. PHILLIPS & CO.
Member, rhllndrlnhln Mnek Kxrhunse
B07 cimsTNrr .stkki:t
;'5
Zlerbell Srns. & Ea.
lublir Utility &rrurUica
Stack Exrfjnnrir Suililnrj, ptjlla.
Northern States Power
Comhien & Warrants
Wisconsin River Power
1st 5s, 1941
Phene: Locust 0220.1-2-3-1
Private Phenes te New Yerk & Hosten
We wish te buy
Counties C. & Elec. ... 5'i 1962
Northern Ind. C. & Elec. . 5'i 1929
Charleston Cen. Ry. C. & E..5's 1993
Phili. Sub. C. & Elec S't 1960
Georgia Ry. & Power 7's 1941
Offerings Wanted
Reed A. Morgan & Ce.
West End Trust ISldg , 1'hila
Members of th.i 1'tul.i. ,strn.k !;, h
r
Pennsylvania R. R.
Equipment Trust 6s
Due 1928-1935
Dividends payable Jan. 15
and July 15
Issued under Philadelphia Plan
Price en Application
Elkins, Merris & Ce.
Land Title Bldjr., Philsi.
Mrnl-r
New Yerk A Phi a si.- i: har-n
r '
laiin nrauii.iiw i 1 1 u
Penna. Ce. 4s 1931
P. C. C. & St. L. 4s 1945
Georgia Rwy. & Pr. 7s 1941
Public Service N. J. 7s 1941
Arthur C. Richards & Ce.
i Private Telephone te .Vete l'erfc
Drexel liuildin?
Bell. Lern. 703U KcjMeur, Muln 0711
BjauuniaiiitinTiiitniu .u u... i " a
Walter J. Schmidt
& Ce.
Investments
New Yerk .'. Philadelphia
ff
BfVRSLYBROS. & CO.
Investment
' Securities
44
'
tnut St, Philadelphia
MARKETMOVEMENT
SaIh
A00
.110
300
200
1000
eOO
100
200
200
300
.'00
tee
200
1000
non
300
3.10,
300
200
200
2000
200
3100
300
AOO
4000
400
tee
100
A000
0200
200
2t00
100
100
000
100
3000
1100
010
400
1000
200
flfO
I 00
40110
17.10
200
100
100
ire
200
200
.100
.1 0
100
A10
2000
.110
tee
inie
.1100
200
1.100
tee
200
2100
fiOO
2000
7000
1000
3000
4000
4000
400
100
100
2.1100
4.10O
2001)
tee
2100
200
700
300
000
f200
100
400
100
100
.100
1300
300
300
300
1000
F300
I 100
300
4700
100
200
200
100
1700
400
100
201)0
100
500
200
100
100
e.i no
1200
.11100
100
300
100
2701)
100
100
101
200
400
100
1110
2.100
401
101)
100
.100
2000
0111)
200
100
100
210(1
300
300
400
1.10(1
201
100
SOO
100
100
. 300
noe
21100
4.100
700
100
Further Advance in Sterling te
Highest Quotation Reached
in Twe Years
New Yerk, Dee. 12. The new week
"Inrleil with mi irregular nml sort 'of
rugged sleck market today. Increasing
iineveiineiM In priee nievement fellow eil
n Mreng nml generally higher opening
'n which the coppers enee mere held
hti'iiie"! n 'Pillion. ' oniiietwg our-
lent", however, developed quickly with
quite n geed denl of procure apparent
in different qtinrtcrs, mere notably in
the riillronde. This was attributed te
ales for Income tnx statement purpose,
which was proposed because of the pre
vailing belief that the present period
' the Inst time In which Miles nf sceuri
ties mny he made an offsetting factor in
income tax return.
In view of the highlj constructive
news development dip performance of
the market was disappointing It has
lieen many moons since the street has
been favored with such trniu nilmisly
favorable developments exer the week
end ns wns the cusp this morning The
prnpevcl Keur Tower Trcntv. which Is
llkelj In be ipilcklv ratilicd In the Sen
ate, and the prnpcwl funding of the
Allied debt were the bit: events that
were almost certain te hi inc far reach
Inc iutluoiiee in shaping both Investment
and speculative sentiment.
This found direct retlectlen in the
further advance in sterling te 4 IS',.,
the highest quotation touched since Oc
tober, 10111. There was n correspond
ing strengthening of the ether remit
tnnees and indirectly reflected in the
pronounced strength of seeral "f the
foreign bend issues, mere net.ibh l'tilied
Kingdom of Oreut nritaln '-. and
uNe in the .Inpnnesp 1ssup.
The only appreciable Influence en the
sleck trading wns that shown in the
strength and broadening dealings and
higher prices fur the copper group. Thc
oils, equipments and shipping sh'nres
were nln given n geed share of atten
tion, but nowhere was much headway
made On the contrary, the forward
movement was rather labored, indicat
ing every advantage was being taken te
facilitate profit -taking. Yet the metal
-hares, as well as the oils and the equip
ments, netablv l'ederal Mining and
Smelting preferred. (Jeneral Kleetric.
Wostingheiise and Standard Oil of New
lersev. tnndi' further substantial ad
vances during the morning.
Shippings, utilities and specialtie
vvhMi are deriving benefits from lio'l lie'l
daj business, such an the merchandising
and i luiin store groups, also citcndcd
earl.v gains. Trading slackened before
neon en resumption of pressure ngaiusl
rails Chicago nnd Northwestern com
mon and preferred fell three points each
and St. I'aul, "Soe" nnd St. I.etils and
Southwestern were heavy. Meters and
tohnecoH also yielded te further pres
sure. SZ3!
II
"' fl.
LOCAL MARKET
ACTIVE IN SPOTS
Electric Storage Battery Made
!'ew TejyP. R. T. Was
Heavy
Trading in the local market wa.
quite active in spots. The dealings,
however, showed a broadening tendency,
nnd while the net changes were mixed,
most of the representative shares scored
substantial gains. l'lectrlc Storage
Hatterv continued the feature of
strength, attaining n new high price for
the j ear nt lliri:,1 . On the ether hand.
Philadelphia Itanid Transit was notice
ably lienvj , suffering af urthcr decline
te 17li, or ever 'J points from the top
price made a little ever n Veek age
1'nlnn Traction also gave ground, yield
ing n half point te HI.
There wai also better absorption of
Pennsvlvnnea Railroad, witli the stock
having range of fluctuations between
i-" J nnd H-Tji. It was learned this
morning from a usually well-informed
source of information that the s'lllng,
of the holdings of an Important interest
was completed Inst week. On the ether
some of the stock sold for ineinne tax
losses was being tnken buck again.
In the miscellaneous list Lake
Superior Corporation came in for at
tention bv reason of the broader dealings
with me'U of the stock taken nt flTs,
although during the session some offer- '
lugs were taken nt 7. Dealings in the
U. !. I. Issues remained quiet. Th
common being unchanged nt 10, while I
the preferred surrendeied nt i nt 50. I
The dins ters at their meeiii,? this week '
are expected te tnke action looking te '
(ailing for redemption all or part of the (
outstanding iJ7.500,yJU S per cent note
issue.
EXCHANGE RATES HIGHER
Buoyant Opening. With Entire Eu
ropean List Scoring Gains
New V)rk, I'ec !' -Tnc f (l mar
ket for foreign exchange .cened buov buev
.int today, the prini ipnl Kurnpenn c
changes all scoring advances ever Sut
urdav's i lese.
The Centr.il European exchnngi s were
strung (Quotation vr-re: Itiiinaninn, .00;
Iiulgarlnn, .s0. Serbian, 1 O'J ; C.eelio C.eelie C.eelio
Slevakiau. l.-l: .ruge-Slavian. .11;
Krcek, 4.0; Polish. e:ti,; KinnMi. i
l.!0; Austrian, .ill : Ilugarian. .1(1.
Shortly before midilev sterling' r'"-e
i. I li't for i able,. Und l.i"J'j for di -
i.iiind Tniiics were quoted at 10 and
clucks at "1S: lire cables vvejp 170.
cheil,. 1 '.!)'.., marks 01. The m.ir!f
W.IS .Villi.
The premi'im en New Y .rk finds' in
Montreal today wns M per ceni. 'I lie
ili'ieunt mi CniiHilluu fundi. In V. w
crk wiw 7 l.'!-10 iwr cent. The Seuth i
Aiwi'i'ieiiii exi'linnges vvej'i : Hrail, '
i:'c. Argentine JI.'J.OS.
bATI'KDAV'd FINAL QLCiTA'I le.Vfl j
Slerllnir Francs Lire Gulldrri i
Demnnd .. 1 13S 7 S2 1.I1H 31011
CulilfH ... . 4 11'. 7 WW 1.44 3D01
TODAYS OPBNINfl QL'OTATIONH
Slerllnu Trancs Lire Guilder
Iiemand I 18 S III 4 MK rill .1.1
Hi).
175
5
JIM
Cables 4 1S4 8.05 I M 31) (O 17'',",
LIVESTOCK QUOTATIONS
I'lttsliiirKh, P11 , Dee. 12 rATTLi; lie
celns. 20(S henil Higher hteer Jsr.eflu.
helfern. Ill 50 7 2"'. enwa, $4S01')0.
( iilvee. r celpts 700 hern! Sieaily. Tep,
S12 3V
HOrtH rieeelpts. WO heart Lewer lev.
I. h, 17 K.1?7.50 hmv verlers, H lOijs 1',
I iiht vnrkurn IS.2.1WN.10. pln !S 10
HIIKUP AND LAMHH Iteielpln. 0'toe
, head. Lewer Tep heavy. Tup sheep. 10 50
I top lambs. 112
DIVIDENDS DECLARED
SullUan Machinery Company nuarterly
76 cents, payable January 10 le .lock of Tec
, errt January 2.
Franklin Peeurltle. Corporation, a per
cent, payable December 81 te stock of record
I December 24.
Hchultu lletn.ll Stere. Corperat'on. atnrk
170
dlvldenil of 15 per cent en common, payable
December 30 te .took of record December SO,
Northern Securltle. Company, extra 0 per
cerrt In addition te quarterly 4 per cent.
MsCrery 8ter. 11.73 en.preferred. paya
ble January 1 $a fteck of .record Pereni-
2WU
hie s. v U . ...
K"rWr-rStm 11 fPt W&sprj
NEW YORK STOCK EXCHANGE TRANSACTIONS
niv.
" limn
.. Adam Express 814
3 Atlvnnce Uumely pf . . . 38
4 Air Ileductlen K
. . Ajnx nubber 28
.. Alneka Juneau O M.. W
4 Allied Chem & Dye... 7y4
4 Allls-ChalmeTt) 37 J,
.. Am Agrle Chem 3t
.. Am Aprrle Chem pf . . . MyS
.. Am Bank Nete Sig
.. Am Reet Sugar 2
. . Am Can 32H
. . Am Cnn pf V4
. . Am Chicle. 12J,
.. Am Cotten Oil 21
.. Am Cotten Oil pf . . . . 40'j
Am Drup Syndicate . . .1
Am HxpreFs 131
.. Am Hide & Leather.. 3'4
. . Am Hide & Leather pf 37 V4
. Am tnternat Cerp... 41'
Am Linseed . . i 30
0 Am Locomotive 101
Am Safety Jlazer.... 4 V
.. Am Sh'p & Cem 'i
. Am Smelt 47',J
7 Am Smelt pf 90
3 Am Steel Foundries.. 341,4
7 Am Steel Fdys pf. ... 8.1
. . Am Stnrar 3SJ.j
.. Am Sumatra 31 14
7 Am Sutnntrn Teb pf . . 6RH
I Am Tel & Tel 1I8J.J
fl Am Tobacco pf new.. 0t
12 Am Tobnece B I29yj
7 Am Woolen R2
. Am 7. 1 no rad & Smlt 13
.. Anncenda Cepper .... 48 H
0 Atch Tep & Sante Fe. 90H
. Atlanta Illr Atlantic 114
7 Atlnntlc roast Line.. M
. . Atl Gulf SWISS., 32 Va
.. Atl Oulf & W I S S pf 23(4
.. Atlmtlc Pet 22',$
. Austin Nicholas 8H
1:80 Net
P. M. ChK
51K 2
2
.
2
1
1.0 w
!
30
20
8Ji
37 V,
3014
8 Va
581g
28
32 K
HYi
12
21
4ft
.1
130
"I4
57
m
3i
100V4
84
891
.14 1 '4
9,1
53H
28J4
8R
iisr,
fl8J's
1281,4
8M4
1.1
4R
te I,
ns
SK14
31(4
23
22 H
rt
8jt4
3.1S
531j
21
sty
58 J4
5'4
43
88
an
18
30 ?
0014
35i
H
8914
13
3
30(4
m
38
48 Vi
58
l4
32
3H
31 Vn
72
83?4
14K,
2S14
4 m
28 H
C.I
3'j
13H
4
14
55
02
1414
48 U
91H
Tfi
Hi?;
14
IV
15(4
52
111
1S?4
19
11
10 Vt
Hit
715j
HS
10
34
81
10H
141',
V
54
86H
140
11
1
33 1,4
3H
4J'i
31 Vz
28',
0?4
17'4
8
SO
.1.1
791,2
ii'
r,
4'.s
38
39 '4
8 14
1".
732
15(4
88
12
52
"
12
44 H
38
23H
54
'
42
'-'84
Ha
175
48
38
44)
20
7 4-
3JJ.-I-
30J4 -
8ftyS
B-
28
33M
94
"J
21 f
48(4
3
130 -13
87 -
40-
nr
- 1
10 m -
4
8 V
48(4
90
34
93
833;
29 -88
-
118
P8-
120(4 -1(4
13
484 f.
te
1(4 -
B8W
3 7 Knlclu-ln Locomotive. . fm$,
. . Baltimore & Ohie. . .
4 Baltimore & Ohie pf.
..in Barnsd.vle Class A..
.. Barnsdaln Class B..
3 Bethlehem Steel . . . .
3 Bethlehem Steel B. . .
30
21
2014
3V4
21 -
20(, - Vt
34 1
58
. . Brklvn Rapid Transit
Brklvn B T ctfs of dep
7
S'A
44-t
88f
.13,
18
31 -
e-
4(4 1
Ti -4-
. . Brown Shee
7 Bush Term Hide ""r
. . Butte Copper d Zinc. , HXi
Butte & Superior Cep. 1BX
. Butterlek 31
0 California Packing . . 8U
.. Callfern'a Petroleum . Hi
2 Cnl 7,lnc & Lead Ji
2 Calumet & Arizona. , . 40J4
10 Canadian Pad Ce 121
. . C.usen Hill Mining. . 13
Case .II 3H
.. Central Leather ... 31
.. Central leather pfi.. 04 Jt
Cerro-rie-l'iiseo 3(IVi
fi Chandler Meters ... TH
4 Chesapeake A Ohie... .18H
.. r-h M'lwnukee & St 1' ?"H
.. Chi Mil & St P pf. .. 33H
0 Chi & Northwestern.. B7J's
. CI 1 U I A Pac 32
0 Chl P. I & l'ne fi'; pf 72
7 Chl It I & Pac :;. pf R3H
. Chile Copper l1
. Ch'.no Copper 2s jj
4 Coca-Cela 42
.Colerado Fuel & Iren. 28 i
0 I'elum Has & i:iec ... "fi'i
.. Celum (Jraphophene. . 314
. . 'el riraphephnnn pf . . 13JJ
4 I'emput Tnh Keeerds. SO
.. CetiFOlldated Oirnr '
7 f onselldated Cigar pf 81 '4
. Consolidated r-la Ins. s,i
7 Consolidated Oas .... B23
.. Consolidated Textiles. HI
7 c-ent.nentnl Can 4RU
Cern Products Itef... 83'4
SO Cosden & Ce 34
1 Crucible Steel ft
Cuhnn-Am Sugar .... l4,'i
.. Cuban Cane Sugar... l'A
.. Cuban Cane Sugar pf. 1fli
1 Pavisen Chem'cal ... a2'-4
0 Pel Lack & Western. 1IIW
1 Pome Mines 10
.1 Vndleott-Jehnson .... H0'4
7 Pndlcott-Jehnson pf.. 10
Cm ll'd
. . Urle 1st pf 18J4
. . Krle 2. pf 11 H
.1 Famous Players L . . 7.14
H Famous Players L pf. f-'z
Federal Mln & Smelt. 10
1 Federal Mln & Smlt pf 39
H Fisher Bmlv of O pf . SI
Fisk Pubber 10H
.. I'rccpert Texas ... 14".
(Inston Wms & Wg.. 'i
i Cm Am Tank '"ar 54
iifneral Asiihnlt .. 07i.j
H C.ener.il Klectrlc . 11
I flenernl Meters .. 1 1 ' 9
0 Cen Meters deb 6rr.. "ii
. . Cloedrlch B F 334
CJranby Consel M & M 20?,
7 CJrent Northern pf . . . 70
4 Great North Ore ctfa. 3114
.. Greene Catianea Cep. 28'
. . Guantanamo Sugnr . . 0s
. Gulf Mobile & Ner pf 17 '2
.10 Hablrshavv Kl Cable.. B
1 Ilnskell & Barker Car 0
. . Hemcstake Mln.ng . . 3'
Housten Oil SI
I Hupp Motorcar 11 i
Hdrnullc Steel . .
.. Indlahema Bef . 4!j
. . Int Agrlcul Cerp pf . . 3S
.. Inspiration Cen Cep.. 40
. nltemat Agrlcul .. . 8;2
. . Interb Cen Cerp. ... li
7 Int Motertruck 1st pf 731
. IntI Murine ... 1.1 H
Int Mer Marine pf . . . C0H
.. International Nickel.. 12'4
International Paper . . 3SH
(I Inter Paper pf stpd. . . 72's
.. Invincible Oil Cerp. . 12',
. Island Oil .. . . 2J
. Jewel Tea pf 44 H
. Jenes Bres Tea . 38 4$
Kansas City Southern 2.1 H
4 Kansas City Se pf . 54
Kansas & Gulf . 7 5,
1 Kelly-Sprlngfleld Tlra 42 U
a Kennecett Copper ... 27
Keystone T & It 12 H
.1 Kresge S S 170
Lackawanna Steel . . . 40J4
1
51 1
120 - H,
13
H-
3t
84-
38 4- 1
1
58 -10(4
-33
-
81
51 -72
!
28
41 1,
28
05 -
13
80
14 -
4
55 - 2
4
923(
r
-81
14
1
HI 14
l mix
19
11
10
111,-
74-
10 j-
37M 4
81
10(4- (j
14' .
54 - 1
68 3J- 5b
141 ! 3
II t-
35 U 1
20 5a
73 -31
.
28
0?4
"-
80 -55
-
7',
11-
fi -
4-
38
3914-8-1H
7.1 .
15H-
80
12 r
521,
2
44M-
6S
23
54
-42
f
27 11-i
178 ;
46 .
PHILADELPHIA STOCK MARKET
1
Nt
300 U G I..,. 10 10 -10 ..
2(5 de pref.. .Wli 30 ."(I '',
tNet chance made by comparison with last
sale en New Yerk Htecli nxchange.
rillUDKLI'lIIA PONDS
HlK-h Lew V M time.
Am Loe.. 100 100 100 -r I
Am Stores 80 7i'j 1111;...
de 1st pf. 10S 108 10S -2
Jilt.Vm Smlig -KPt Wi
L'Hi.Am Sum.. UIG ti0..
-liiTllald I !)."TA 0"';li
Hitllutle & S 18'it 18
incniif ivt. -ir,T -iin;,
TetChile Cep. 1 ll,s H'i
net Cel Fuel., lid's W
2:r, Kler- Ster llMi 1-3
lOt Fain I'lay. 71 71Ta
llOtden Mtr. Uli 11
10 94 1J ,
fJ1)ij a;
!l.")T8- 4
181ft f ij,
13 ii
11VB ni'
L'OVft liftl
i'j:
74 . .
11 ifti
75 '
100 Liberty
100 Liberty
700 Liberty
100 Liberty
500 Liberty
000 Liberty
COOO Victory 448 '2:!
2000 Victory 4-V.h '2.'i
400OO Victory 4-'s '23
200 City 4 1043....
200 Klectric & People's 4n
O(M10 Plilln tV.I.lip. 1st .1u
t'OtfJt N pref ieV f
lOtlit N Or 31 'i 311,4
31li..
31 a...
12 ..
500 Phlla Electric 1st 5s 01
Ce X A. 31 Vj
31'
20000 Phlla Electric 0s lets 100
BANK CLEARINGS
Hank clearings today, compared with cor
responding day last two sears-
ltm me nun
Phlla .. IM, 0011,000 70,flHn.02,1 $R:,.731.1.1
iiosten .. 3n.oeo.oni) a. non. Rie an.a'ji.niA
N. V . 3DS.000.OUO 303.2(17.030 0118.1 18.301
RAILROAD EARNINGS
CANADIAN PACIFIC
11)21 Inerease
First week December IS. 403.000 ll.K12.0O0
Jan. 1 (e Dec, 7. . ..177.171.000 20.808,000
Decrease
.-.litlnt Nickel VJ
12
7'L
(5 5SVj
. Key Tel.
:u
I, Slip Crjl I
tlT's 'ft
5S i,..- r.H
14'. 'ft
,iS L'di Vnl I'-a
lotl.eevvs.... 14'i 14"
:tllM..ir I'et .110 110
11(5
Minehlll .. 48 48 -18
25t.M Stn Oil. 14'i 14 14V.
U
130tMidvale.... 2'Vi -Jrvvj -e ,H
'JOtl'aeOil.. 40'1 4!V4 4i', Tft
100tInn-A l'et B2,i 5'2'i 52'iflVi
30 I'enna Cent
Light pf. 50 40 50 ..
.Til i Penna It H 33 33 tf .'13!ft . .
22 I'enna Hnlt 0!)!,li W'i 0f'j..
70 Phlla Ce pf 30 30 30 3
U. S. Certificates
Int.
Maturing
I'lilltt Klee. 24's 14 --va
Hate
uate
251 de pref.. 27 27
850 Phlla It T 18 18'4
lOtl'ierce Oil 13 13
27 'ft
18V4- at
tfH4 Fel)., 1023
n niar., jv...,Miuu.'in juu n..i. .i.nn
fti Mar,. 1022.... 100 7-3'J 100 B-Kl n 88
B Mar, 1022.... 100H lOd l(i-32 3.A3
4V1 April. 1022. ...100 lOOi-lfl 4 00
fitt June. 1023.... 10O 21-32 100 23.32 4.00
J.4
aetllcadlr.;
iHt pf . . . 42 42 42
20tRcarB.Hbk n0 C0 50
35 Texan Ce. 47 47 47
t'BVi Aug.. 1(122.... 100 23-32 100 27-32 4.1B
4H Sept., 1022.... 100 1-83 100U 4,80
!IVL 8ept 1022....100 21-32 100 23-32 4.23
3 June, 1024. ...102H' 102 4.10
lit Rent.. IBM 101 fi 102 4.T1
Texas l'ac
O & O.. "8ni "H ''... . -isxempi ire
irem
Dlv.
(tales ini Iltph
200 2 Loe nubber Tire 29
100 .. Loewe'Hlnc 14H
100O 3.6O LehlBh Valley 89
200 7 Ufrgett & Myers pf...H0
20) .. Lima Locomotive .... 02
200 1 Left Candy 10
MO 7 Louisville A Noahvlllel09
100 .. Mftnatl Sugar 28
400 7 Manhattan Kiev ffuar. 35
4500 1.75 Manhattan Shirt .... 38
100 .. Market St Ilwy pr pf. 35
100 .. Marlln Oil 26
29
1454
88
110
9!
10
108
28
34
.14
38 K
28
6
100
13
1144
27
14 54
28
1
2 54
8
23
71 .
1754
43
100
1254
22
"54
154
39
8834
34
13
00
7334
87
61
13
21
9694
48
41)
79
.1
65
12
46
82
47
78
33(4
1034
36
21
65
6434
3234
73
32
13
12
69
65
02
12S
23
J6
32
39
107
2H
38
20
18
7094
42 '4
C43i
27
27
82 s
8
30
21
3.1
21
31
8334
874
23
8
38
2194
3734
74
7094
18
43
9034
180
112
7034
4
7?4
29
1034
47
32
23'4
2834
1.1
3)3
89
1094
11
1994
127
1(3
(JO'i
44
12(1
62
0
38
63
63
1.8
3(1
44
8394
113
64
8
32
29
87
74
6
20 54
131j
14
1)2
4954
7
39
1154
18
28
67
6
43
H
1
Hi
H
Vl
300
1090
290
18000
1790
.. Mnrlln Beck well
8 May Pept Stores 100H
. . Max Moter Class B.. 13
12 Mexican Petreleum ..118
2 Miami Copper 27H
3
0800 1.20 Middle States Cerp
14M
zaoe
4800
290
300
2Q0
1)0
2800
1800
100
200
100
100
100
800
100
100
2100
390
200
100
100
1700
1000
1200
800
200
2600
2300
200
200
500
0.100
2100
300
100
3800
1400
100
noe
300
300
100
290
2100
300
3800
20)
8300
100
80
100
200
8000
100
1000
600
4000
100 3.1
,1790
3C00
200
100
2000
2700
1200
600
Mldvale Steel 28
, . Me Kansfts & Texas.. l)i
. Me Kan A Tex pf.... 2K
, . Me Kan & Texas wl. 8
. . Me Kan & Tex pf wl. 23
7 Minn St P A B St Me. 71
. M'sseurl Pacific 18
. Missouri Pacific pf... 43
7 Mdntnna Power pf..,100
. Montgomery Ward . . 13
. Mulllns Bedy 22
. National Acme 11 H
. National Cen & Cable 1
8 Nat Knnm ft Stamp.. IU
a National Lend 88K
. Nat It It of Mex 2d pf 3M
. Nev Cen Copper 18(4
. N V Air Brake 01
3 New Yerk Central... 73?
. New Yerk C & St L... 57
8 N Y Chl & St L 2d pf. 01
. New Yerk N H ft 11.. 11
2 New Yerk Out ft W.. 22
7 Norfolk & Western... 97
. North American ctfs. 48
. Ne American pf ctfs.. 40
7 Northern Pacific. .... 809S
14
w
1
u
1?
2
a
2
5s
(
' !'s
i',
(4
. Okht Pred ft Kef 3
H
2
Otis Steel
9?S
. Pacific Gas & Elec...
. Pacific Mall
. Pacific Oil
6 Pan-Amer Petrel . . .
6 Pnn-Amcr B
. Pnnhandle pf
2 Pennsylvania H It. . .
. Pcnn Seaboard Steel.
. Peeples ( ins of Chl. .. .
. 7'ere Marquette .....
. Pere Marqtiett pf. ...
8 Pere Marrj prier pf . .
3 Philadelphia Ce
. Phllllps-Jenes
. Phillips Pet
. Plerce-Arrew Moter.
. Plerce Oil
8 Pierre Oil pf
3 Pills Ceal
6 Pitts Ceal pf
7 PFTWftCnf
. Pitts ft AVest Va
. Pend Creek Ceal, ...
03
1.1
4 H
8254
479,
78
331,4
1"54
,1ft
22
65
"5
3254
73
I 32
11
13
en 54
re
92
128
28
16
K!
',4
H
Producers Refiners
33
1
2
Perducers Refiners pf 33
8 Pullman
IO894
. Punta Alegre Sugar
S Pure Oil
1 Band Mines
2014
39
20
13H
71
H
V
1
. . Bay Cen Copper. . .
1 Beading
2 Beading 1st nf
42
2 Bending 2d pf 43
. . Tlem'ngten Typewriter 29
.. nepleglc Steel 27?4
.. Republic Iren ft Steel. 3354
.. Republic Meters 054
20 Royal Dutch N Y.... 3194
.. St Leuis Hen Fran... 21
. St Leu's San Fran pf. 38
. . St Leuis ft S W It R. . 21
. St Leuis Seuthewcst pf 32(4
. Sears-Roebuck 68
7 Scars-Roebuck pf .... 879$
.. Seneca Cep Cerp 23
4700
400
noe
tee
tuoe
3200
100
800
1300
600
.1100
100
100
1000
1700
20)
1500
1100
100
8000
400
noe
300
1800
10200
3300
1700
2000
030
110
230
11300
100
1.100
, 'JU
400
ion
Si '
IS I
(4 1
(s I
l
l
(4 '
1(4 I
' 1
.'si
hhattuck Arizona Cerp 894
74 Shell Transport
39
22
3754
74
80
18 J4
45
.. S nclalr Oil
. . Sless-Sheffleld
7 Sless-Sheffleld pf . . .
0 Southern Pacific ....
. . Southern Rail
. . Southern Railway pf
4 Standard Oil of Calif
01
a standard Oil of N J.. 180
7 Stand Oil of N J pf...H2
7 Studebaker 80
I Submarine Beat Cerp. 4
.. superior Oil Cerp...
. . Superior Steel
.. Tenn Cep & Chem...
S Texas Ce
SO Texas G Sul
. . Texas & Pacific
1 Texas & Pac C & O.
. . Third Avenue
0 Tobacco Products . . .
7 Tobacco Products pf
. . Transcen Oil
8 Union Bag ft Paper.
. . Union Oil
10 Union Pacific
V,
29
11
45s
33
2.1 y,
29J4
14
8u5b
00
11 34
71
20
w
128
.. Union Tank Car nf...le.1
United Drug OO'.J
200 3. SO United Drug 1st pf...
2100 8 United Fruit
44
12
82
10
3896
03
34
08
37
44
83
11.1
03
094
32 H
23
87
'
0?;
20
131A
100 a United Retail Stores.
800 . . US Feed Products. .
1200 . . V s Ind Alcohol
100 .. US Realty & Imp..
1000 U s Rubber
100 8 U S Rubber 1st pf.
33.) . . V S Smelt ft Ref
110 3 50 U S Smelt & Ref pf.
i
1
.'.HI
.103
4200
200
200
.100
100
.100
100
300
100
1700
100
3100
100
300
700
2.100
400
100
500
100
200
8 U S Steel.
7 L S Steel pf
S Utah Copper
. . Utah Sec
. . Vanadium Cerp . . . .
. . Va-Car Chemical
0 Va Iren Ce.il ft Coke. .
. . Vivndeu Inc
. . Wabash
. . Wabash pf A
. . Wabash pf B
. . West Maryland 2d nf
"8
!a
Ca
54
u
H
!s
13
7 Westing-heuse A Brake 02 ,
4 Westlngheuse l: & M, se
. . Whecllni; & L 1; 7
1 Whlte Moter 40
. . White Oil Cern 12
, . Wick Spenc Steel Cerp 10
.1 Wilsen ft Ce.
28
07
8
43
8f4
7 Wilsen ft Ce pf
Willys-Overland ...
4 Worthlngten Pump.
.1 Wright Aeie
I!,
854 A
Kx-dlvldenU.
Commodity Markets
GRAIN MARKET
Chicace, Dec. 12. Wheat started
'e te 'u.c lower for December, Vftc te
V lower for May nnd '(,: hlsher te
K- lower for July. Trade wns bIevv
with Kcnttcred eonunlMien house fielllnc
Minimis into buying by an Eastern
muse. The (tcIi mnrhet wns relatively
I rni witli limited offerings und a fair
(k'luiind.
Cern stnrted c te nsC off fet. )e.
eember and 'h'' te i2e levvir for Mny
find July. Trade was Jljrht nnd fca
turelesH. Outs opened 'ftp te 'Je lower, with u
kninll l.mln 'rkn.n ...... ..
2d -1Vh '42
3d 4'4h '28
3d 4Vs '28
. 1)15.01
. 117.11
. H7.410
. !I7..-(!
. Il0.!l(5
. 1(7.20
.100.01
.100.00
.100.02
. . 1)5
. 02
3d 4b '2N
4th 4 Vis '38
4th 4V,h '38
113
v, V '"""" Mime
4000 Phlla Klertcic 1st 5s.. lets X 'K between December und
difference.
COTTON MARKET
New Yerli, Dee. 12. The cotton
market this mernU? wns Influenced
largely by strength in foreign cxuhmiet,
mi Jiupreveincnt ia the news from
Wabhlnxten and in the foreign political
nnd financial outlook. First prices were
were up 14 te 45 points nnd there w,u
active buying, participated In by the
trade, Vvnll street, Liverpool, nnd local
hherts. After the stnrt, the list con
tinued te advance nnd wns about 38
te 40 points higher en the active posl pesl posl
tiens. Receipts nt the ports for the day arc
estimated nt 15,000 bnle, ngnlnst 14
003 hnlcs last week. 32,005 bales Inst
yenr, and 31,502 bales two yenrs age.
Rat. Tnrtnv'u
and Treasury Notes
nid Asked yield
. ..100 3-lfl 101)9-32 3 7r,
December 17. lit
January 17.70
March 17.70
May
17.30
I.... 17.011
July . .
October
10.42
reatirat nerni incein,
BAR 8ILVER
raafiStry film?. -""v"ver w'- W4 1" '
NEW YORK BONOS
1 :30 Net
P. M. Chga.
29
1
88-
110
2
10
108-28-34-36
-33
14
"
"
1
2
H
Issue te Be Subscribed for en
Thursday Dealt In
at 10312
28
6 - 1
New Yerk. Dec. 12.-TI.0 striking
feature e nthe Curb today wan Initial
dealing in New Yerk City 4'i lj" cent
benilH which nre te be subscribed for or,
Thursday nt par. These bends were In
urgent deinnnd nml were dealt In at
103Vj. or 8M1 per cent above the sub
scription price. .... 1 1 ...,
Tlie market in the industrial isiucs
wns narrow nnd without pronounced
feature. The coal stocks held clese te
prevailing prices and deal lifts were ni ni
mest wholly of a professional charae.
ter. lliirim Urethers 11 was trnded in nt
from 3UMi te .T2 ntnl FarreU Ceal
ranged from 10 te 1S. (len Aide.,
Ceal was steady nt '11 and beuthcrn
Ceal and Iren sold nt -. t,
Moter stocks showed little change.
Lincoln Meters Feld down te 1. . I01
bncce stocks were irrORtilar. P ill p
.Merrli nsdd at .tf ami 1 r f Ame
can Tobacco at 12. OlHci 0 Safety
Master, ex dividend, was trnded in at
lOtHt- te 107. , c,L . , rtll .
In the oil stocks Standard Oil or
Indiana wns nctive, but It lind only n
narrow range from 8U te 8S-. . 1m-
1.1 111 . f'unnilii was nctive nnd
100
13
115 -
27
14
28-
I-
25-
8 t-
23 ..
,71 1-3
li-- 54
45 - 1
100
1234-
22
11J4-
154-
39 -
8854
114
18
60-
"54-
8
01 -13-21-
0094 T
43
40
70 -
3
054
68
13
40
82
4794
strong and moved up from 105 te 107 'A
1M1LSTRIAI.S
IflO
r. m.
IN
10
44
70
12 '4
32
v,
VA
1
(1V4
8
2.1'i
l.l'l
18V4
43
ItlRh
li'i
. in
. 4(4
'h
. 32H
. II "
. VA
1
. n'4
. 8
. 'Je".
. 13S
. I1'
. 43
. lS
.117
. It
. 10
. 7
11
Lew
Hi
in
'4
70
1214
32
Ct
11
1
' 4
8
2.1'i
I3'i
18U
43
Acme Ceal . ,
1
.. inn . w. s '--
Amr WrltlnB Toper . .
lirailley r r
Ilrlt Amer Teh ieup
Callfnrnln Crushed trim.
78- 1
A3
1054-
30
21(4-
68
68
3254
75 3
32
I'nrllele Tire
Columbia Unmrnld
Cuntliltnini lire
I) IV (Vlffllh
Duriint Meters
Dnriint Meters of Ind. .
Cnrrell Coul
filet- Alden Ceal
(JoerleHr Tire
(llllelte )t It
(leemes Cleth
Iinpfrlnl Tobnece
Inter Ituhner
r.'liliv-MeNelll
I.liiuiln Meters A
National Leather
N J Zinc
Pnrsens Aute
IVrfectlnn Tire
l'J'f,
1294
lftil4 17
ii
14
1'4
7
II
IS
7
a
IS
124V
40
20
4'i
"it
e
Is
IS
43'
714
13
1.1 69 -60
92 r
128
23
16
33
30
107 -
20 94
39 -1
29
27
5254-
fi!4
81
21 -
1H
"' 24
MS.
124' 124
J a
10
"0
4i
2'
av
lU'i
2a
t'l
2'i
2V4
lii'l
22
2i
IS
4Stj
7 '4
Philip Merris
Kmlle v-iim
Itsclln Cem prcf
Ree Mntura
Heuthern C & I
Swlfi Inienmtlenal ....
Sweets Ce
United I'reOt Shurlng . .
Cnl.in rnphllA ...
"i
14
2
1
'Va
1
7's
Wlllya Cerp 1st pref
STAM)AKI OILS
Anple-Amer Oil -l'
At'nntlc Lobea "
CI1I0 Oil 263
Prnlrls PI ;'!,,
ImperlHl Oil Cr.n ('
Starfl Oil of Ind i
Hiiind Oil of N Y 3,0
21
II
20.1
2404
10.1
375
21 '.
1'
20.1
241
107
SN?4
373
INIIKI'KXIIHNT OILS
Peene Oil 27 ;
ltosten Wjemlng ',, '
Curlb P)nil ... .J'' .
Cities ricrvlie (old) -L',, -'
Klk IlHs'n I'e( j1
Knglneers Petrel "J l
Kedrtral OH J J
Ollllliiml Oil 4S
(llenrerk Oil )
(IrunHilii .3l ,
Mudrun Oil 1J . '
liniier ill Oil ,? ,
Int Teirel 1JS 1
Keystenn Itnnuer se J
Lyens Pet J ' f
Mnrnciilbe Oil 23
Merrltt Oil JL,''s 1
Merldan 1'et 17 1
Mnrcny Oil 31,
Mexico Ol . A ,
Meunlnlif I'reilurts 11 1
Niitlenal Oil N J 2 .
Nnble 13 1
New .Vlexlte ArU 1(4
Ohie HiinKer JJ
Omar Oil '
Pennek Oil 1ji
Pniduei-r & lteflners S
Suit Cieek I'red 14H 1
31- 1J4
55 94- 1
7 94
23 ..
3054
2154-
37J4-
71 ..
70
18- H
45 - H
01
180 ..
112
7ft ..
4
7
20 -
1054
47 -f
3.1
(4
1
(4
Vt
nunniH jti . "-a
hkelly Oil 5i4
Southern I" & H "S
Ten j- 7
Wilcox OH .tS
Y Oil 37 2
.MINING
niB I.eiUe 28 'J
Ilosten & Ment Si7 S
Copper Canven IS
Cnn Cupper Mlnen IS
Crescen (leld 2S
VA Salvader 1
llureka Creeaus IN 2
BurekH Heliv ss K
Held Zene 12 1
Hsrmlll Divide 1 1
llewn Sound 234
Jumbo Kxlensleif . ... 7
MncNamarii ... 11 1
MuKin.i Cupper 234 -
Jereme Verde 3
Mether I-ode Clt .1'
Mether Lede old R2 f
National Tin .10 .1
Nevada Ophlr 4.1
New Cernelia 17 1
NIp'.KHlnK "S
New Dominion 2'i
OHe Copper .... . . 111 1
Pitts -Mt Hhiimil 31 1
Pay Hnrculen HI 1
Silver Hills uf Nevadu . II 1
Se Am 1" 4j I! di
St-uird Minlnir '-'
T.ineiiiih Dlvid Oil 1
Unit Ueld IS
Cnlteil i: intern '-"1
Yukua Geld IS
nnviiQ
-..',- 5,4
2834 .
13 - 134
8J .
90 J-
1IJ4 1
71-
1054
127 103
G)i2
41
l.'C
32-0-
38 34
63 -1
3.1 3 ;
is j ;-
:n. -
44
8394
11.1
4
0 32 ,
29 ;
87
7 '
6
2034 .
1334
I43i-
02
50 r
7(j 1
40
1
18
28 -67
-
6 H
?'i
Allied Packer rtf
Aluminum 7a 102.1
Amer Tel (la IH22
Amer Tel Us 1021
Irmn.ir 7m
. . 43'i 43',
..III0V, 100 Vi
..lOOti 100
..101) llll'4
..102'i lOl'I
I-...,.. Tl..a,!l' 'b.
Ilelh Steel 7n 1033.
Can Pae tie
Cnt Steel ft
Cel Graph ha
Conn Ouh 7h ...
Cens Gas llalte "s .
i . .- r-vtlt.. B.
.'.'lOO'i 100'i 100".
..10011 lOO'k 1(I0
loe 'a loe .
'1
1
54
14
34
I si
41
ii t
HHIT4 1007
le.i inn
10(1'
inn
100
ou ion
Copper l:pert 8s 1H2'.'
loei inim i ix, v.
.epir i.i'iiri. nn ii..i
ll'-'t . . . . V . . IUIT1I i.ll'H
1021 lO.'Va l"2ij in.-'
1923 HU'i 104'i 1 m ' f
102. 10J, 102l4
C7'i 117', 07
. . nsu (i4ii nbi.
hi: .... K .....
i eppt r r.xpuri ni in.,
i epix.r r.xperi eh
CLban Tel 7'ia
Peere Ce 7Wa
aoedrleh Tire 7fl
Oulf Oil 7n
Humble Oil 7s .
Inlerbore 7s ...
Interbore "s ...
Konnecett 7h . .
Ltcled Givs 7s .
102' lilj'n in.: 'I
....100H lOOi, loots
....73 71'j 7.1
. ..101 101 101
....101 101 lilt
.... US'4 IHlj OS'l
43
834-
I. limy .iL.seill in . .
N Y Cliy -I'm 1071
"".. 1'U 4 ivu
Ta nu t 'rt 7 u
,n, ,n.fl ..-
1liln 1 .l I uah
..lllt'i 104'i 04',
.. 10 07t 118
United oil Pred 8
Vacuum Oil "s . .
Warner Husnr 7b
Western lilec 7h
11llu,.n Hi. m
.107
iui 1117
en; fies;
lint. 101 'v
80 Va 0(1',,
100 100
. . 0111:
. .103'!
.. eit'5
..loevj
Wlni.he.ttr ,7''js' !
NEW YORK COFFEE MARKET I
New Yerlt, Dec. 12. Promoted bv
the continued liniiness in Hrnzll, there
ni'nu tnmr. frehli ikiivlr... t. I,A !,..) . e I
cxciieiik
...... .-....." ..-.-.. ...,j.,,b ,,, lUi; lutilj rei-
ft'e futures market this morning which
hi ought about an opening advance of
4 te 15 points. On the advance, there
was mere or lcs profit-taking, but the
demand was sufficiently active te held
the market linn. Special cables reported
a further ndvanoe at Itln of 350 te 575
reiH andiin Santes of 475 te 025 reis
The early ndvance wns holding vvcll
toward midday; in fact, neine of the
(irtive positions had made further slight
gains, with the market continuing te
show Mgns of broadening. Snnie of the
tarly firm offers in the cost and freight
market again wrre en ,i higher ImMs
and Jobbing houses repeited a meie nc
tive demand for the spot articles.
May at Uc
rial cioee tip.-n
8.0.1 n 07 u.05
JJliflue NUKim
Decemher
March . .
May . . .
July ...
New erli, Dec. VJ.-The New Yerk
ceITci! and sugar exchanges teduy voted
te close en the Saturdays preceding
Christmas and New Year's. ,,rece",ni'
. Paris Bourse Heavy
I'arla. tlfe. 12. Price, were heavy en the'
neur.e today. , Thre. pr cent Tm An?
IBe, Exchaiirrf pn Unden. JKrte' teWf
open
11 A.M
17.0B
18,00
17.80
17 8(
18.00
17.S3
17.05
17.73
17,3.1
10.73
'eday
per cent nan. MOt "Or. The ii,,il. . !..
QUOtsd at 12f- ioVie. VV rna u"r
BID UP ON CURB
N Y Cliy -I'm 1071 KM'-i HH4 103",
Nat Cleak Ss nrtji us', ns't
iireseri Hhert I.lne Bs ... liO'i 00 0(1 ',
Phlla l'r (la ini (i0i mn,
Phlla Klec 0 IOOVj 100 Va 10OU
Philippine 3', a 10.1 105 103
Public Herv of N J 7a... (I81i 08 IH'i
Hears-ltejliui-k 7s 1022.... tl(iJ 91 ni
Hears-Ueeliui It 7. 1023 HO',4 0ri'.J nu
Southern Ilwy Oh OUH flll'i 091,
Heuthwekt 11-11 7 101', 10114 101'!
Htand Oil - Y 7s 1U27. . . .I0M4 n;i i",-X
Swift 7h 1031 102 10J 102
Protection and Profit
Yeu want your savings deposits te be
absolutely safe
A National Bank with a Savings
Department guarantees this. t
Yeu want the highest rate of interest
consistent with safety
IVc allow 4 interest en savings
deposits net subject te check.
3 interest allowed en savings
deposits with checking privilege.
National
Bank of Commerce
713 Chestnut St
Nathen T. Felwcll. President
' National Dank with a Savings Department
y
HIGH-GRADE PENNSYLVANIA TAX FREE MUNICIPALS
EXEMPT FROM ALL FEDERAL INCOME TAX
LEGAL INVESTMENTS IN PENNSYLVANIA AND NEW YORK
$500,000
County of Allegheny, Penna.
ty2 Tunnel Bends
Dated December 1, 1919. Denomination $1000
Coupon form, registration privilege
Assessed Valuation $1,700,849,795.00
Net Indebtedness 31,720,725.08
Population, 1,185,808
Maturities December 1, 1926 te 1948, Inclusive
Prices te return 4.25
$500,000
City of Allentown, Penna.
5 Scheel Bends
Dated October .1," 1921.
Assessed Valuation
Net Debt
Coupon form
Population, 73,502
Maturities 326, 1931, 1936 & 1941
Prices te return 4.30
m. BVH. FREEMAN & CO.
421 Chestnut St. Telephone Lembard 0710 Philadelphia
WE OWN AND OFFER:
500 SHARES
Penn Central Light & Power Ce.
Cumulative Preference Stock
Free of Penna. Stale Tax and all Federal Income Tax,
except surtaxes
Dividend $4 per nnnum, payable quarterly
Jan. 1, Apr. 1, July 1, Oct. 1
There arc eutstanding: 01,110 shares Common stock, 42,097 ahares
Preference uteck of no pnr value. On January 1, 1922, Common
stock dividends will be advanced te $1.50 per share annually.
Any additional distributions shall be at the same rate per share
for both classes of ateck
Earnings since incorporation in 1910 have never failed te nhew,
from year te year, material increases, both in gross and net;
and present earnings and business, conditions are especially
satisfactory.
This property is essentially n producer and distributor of elec
tricity for light, heat and power. Territory covered by trans,
mission and distributing systems through Mifflin. Huntingdon,
Illair and Cambria Counties, uieng the Main Line of Penna. Ii. It.,
has an aggregate population of ever 300,000.
Price te Net About 8
ROBT. GLENDINNING & CO.
400 Chestnut St., Philadelphia
Constantin
Refining
Company
8 First Closed Mortgage Sinking Fund Geld Bends
Due June 1, 1023 and 1925
dJht'eV'n?00 bnd3 ren8titl'tlng the only funded
W00,f000hO Cmpnny ar 8Ccured by assets of
AtenIhlvBSinkln j T8 h6 inl,eretl '1 "
princJnl. g Und Prevhle8 for interest nnd
The Company has the highest commercial rating.
Price te return 8
Free of 2 Income T. Ienna. T refunded.
Edward V. Kane & Ce.
Morns Building
Established If years.
Denomination $1000
$67,217,750.00
1,821,910.00
- -J
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