tUtetHMBBSM
-vrv
U
23
EVENING, PUBLIC LEDGER-PHILADELPHIA, MONDAY, 'DECEMBER 12, 1021
:m
i
r, i .
.JiMfcilillil ft.
Safe Deposit Vault
xtft Chestnut Street
THOSE who expect te spend all or part of the
winter away from Philadelphia may use Fidelity
Trust Company te
i. Care for silver or ether articles of value.
2. Cut coupons, collect interest and ether income.
3. Pay bills, as instructed.
4. Make income tax returns.
5. In general, act as Agent or Attorney-in-fact.
Fidelity'
TkusT Company
325 Chestnut Street
143 1 Chestnut Street
6324 Woodland Avenue
West Philadelphia
Capital 5,200,000
Surplus l6,000,000
Funds held in Trust mere than $250,000,000
Vw7 ll
? 3
Assistance
In Preparing
Income Tax
Returns
We have had prepared a cencie, clearly written
booklet containing the rulings of the New In
come Tax Law a3 enacted by Congress.
The booklet affords valuable assistance in the
preparation of income tax reports for this year
and we will gladly mail it upon request.
Resources ever $14,000,000
Franklin Trust Ce.
Main Office: Fifteenth Street below Market
llcll I'hene Sinuce b'JOI; Keystone. Jlacc SCSI
Delaware Ave. and Market St. Fifty-second and Market Su.
5708 Gerpinntewn Ave.
"The Inititutien That Gave Philadelphia Day and Night Service"
S31llB,!in,ail)iiiinl!l!ligil
AlabamaPowerCempany
First Mortgage and
Refunding 6a, Due 1951-
mJlrfctl the nirmlnchnm Plstrnt
w'l llfrnt anil rower, comprising it
Population esilnrited ut, e-.er MO 000
. J.revtty Incudes one of the lamest
..u.eircirir plants In the Hnutn.
lesfther with steam stations, and has
comprehensive transmission system
"JjJ" one thousand miles
ine earnlnrs of the Compan for
iS',i1 month, ending- October HI,
i..".."!0 0,or twice the nbeie In
Mt charges
Price; 972 and int., folding 6.20
Particulars en Application
Knt. 1805
BIOREN&CO.
IlnnkrrH
110 Chestnut St.
l'li'liulPlnhlii
utmhci e thr PhilntlrlphUt ami
A cm Vel A. Stock Kxchnnpea
I""" IIilllllllllllllllllllHllllllllll!lllll!IIIIlll'llll
( I)I)0 CKNTHAI. Oil, & ItEK.
in, line 1030
lU'llPUOlll CO. Hn. Due 19S0
NI'AV KIRK. I'KIIXV 4 OHIO
4tVs. Due 1033
(AMOV AllltON. (Is. Due 10J2
IDA IIAII.IWAH. 5s. Due 10S3-60
IKON WOOD A IIKM11CMEK II V.. I.T. &
I'll. fii. Due 1030
COLORADO POM Kit. Si, Dun 1033
PII.NNA. WATEB A I'OWF.R
5s. Due 1010
Penna. Ceal & Coke
flUNHAM&(a
P Investment Securities
43 Exchange Place, New Yerk
Telephone 6300-10 Hanover
NEW YORK BONDS
balks IN tioeo
Can.dTn Kthnilt ChlU '40 wl
Hs rcU l..., 102H
1.... 107H 2.... lOJvt
1.... 10TH
1.... 108
1 .. 101
1.... 108
Chile Cep'r
10.
6.
0.
1.
7,
10.
2.
e.
85
65
85
85 U
85
85
85
85
2 85U
50 85
Chile cep'r 7s
OOH
0 . .. llftt
1 00W
5... . nny,
Chinese, Ueve't
H-K Hly 5s
1 ... US
' 44Vi
-ny or usmei
8" rets
1 ... 104
Clly Herd'x ,
? 80W
.. 80V
' .. 88H
... 8im
-' .. BOH
. SOW
l - 8(1,
Cty ('hrla'n 8b
I.... 107
Cltv nf Copen
hagen Bs
J 87
2 ... 87
5 ... 87
" 87
1 .. ..88
1 .. 87
J go
City I.yena.OK
20 .... MM
5 .... 80H
2 ... 80V,
, 2 . . SOW
Clly Murs'H il
5 80 V4
2.. .. 80V
It . .. 8Vi
2 . ., 80H
1 ... BOH
y Kin Ue J
nerle 8a
1. . 101
I ..101
1 ... 101
I ... 100
l ... 100
1.... 101
Clly Teklo B(
SO os
5 fl.i vt
i en
Clly Zurlih Ni
1.... 108
' ulmti A H Si
1 . 108
'uun C ti ev
2 . 00
4 ill
f'n (. 3 cv c
1 r8'J
Cuba Itallread
Ce 7s wl
2 ... 101
Denmark Ce"
ct 1 8
1.. . 1P7H
Dem Hep'e B
5 . . 85 H
10. . . 83
O Canada '2ii
0 ... 00
7 .. . 0(1
D Cnnada '3U
2 07
7 07
12 0Tl
Cleve' t French
II 7H rets
5 ... 111
1 05
1..'.. 102
1.... 102
1 102U
Rep Cuba 4 He
5 TO
1 70
rtepub of Uru.
euay 8a
5.... J02
1.... 103
2.... 102
1.... 102
Be Perte ltlca
Ct Ta wl
10 05
SUt nt Sae
I'auie as
1.... 103
1.... 101 U
Swlta'd con 8a
1.... 11.1
5.... 113
1.. . 112V.
U IC Gr't llrlt
& I'd 1022
.12 fl'lV.
U K Qr't Ilrit
& I'd 1020
2 08
8.
101.
05
05
U5
05
05
05
11.1
03
II. T I
0.1
03
03
0.1
03
05
0.1
03
03
04
0.1
04
04
en
2... . 04
2 0
Clee'l r II 8s
0
S
7
e
2
1
O
i"
13
1
1
1
1 .
3 .
0..
It
3..
2..
T '.'
r.
23..
1
1.
5.
ft.
5.
4.
3.
Del A Hud ev
1 . 00
Den tUUM
2 . . 40
2.. . 40
1... 10
Det Edl 5a '40
0 01
Det U n 4
1.. 00
D d Nemeura
Tftdr 7Ha
1.... 104
1.... 104
1.... 101
Dun. l.litht (It
4 .. 100
1.... 100
1.... 100
D Match 7H"
1.... 107
1.... 107
Brie den! Lien
4 43
1 43
Erie n n cv A.
4 07
Brie II It cv II
8... . 37 H
8. . 37H
Erie It n cv D
4... . 30H
08 Erie 11 Ce 4a
08 l.. .. no
08 H Plalc lliih'r (V
It 08U 8a rrta
J? 08 4.. 100
J 08 'I.... 100
10 (lg; CJane'l Htec
1 08 V. 1 nn
'" 08 Ooedyear T &
25 08 Iluli '31
.8 08 0. ... 09
2" en e.. 100
5 .... 00 2. . 100
20 00 2 (ptHj
50 00 3... . fiOH
8 00 Goodyear T A
-' 08 nub '41
2 00 0.... 110
J K Or't Urlt l,.,, unit
A I'd 1037 1.... H0
3 0.1 a Nthn ltd 7s
2 01 4..,. 108';
0 ... 05 1 ii)8
-' 05 n . 108
1. . . II'. Mik Vnl ",
B 03 1 83
1 05 Hud . M.i M
2... 04 1. .741;
40 n.1 2. ... 74
03 1 ... 7414
1 03 3 74
1.. 03 ttii.i . jiar. m
23 03 4 ic
23 03H III Cen 4a '52
2... . 03 I .... Tfit,
4 05 ,4.... 70
1 05 .1. ... 7f
' 8 llrazll v III Cen 4a '53
I.... 10 3 . . 78
12. . 104 111 Cent'! 5
2.. . 10IH 1 08
2 104 Indl'a Steel ffa
3 ... 104 ,, 1 (S14
.1 .tlrx.i.i ,
in.. . 41
17 41
34... . 41 H
' 8 Mexico 5
N Yerk 8lat
nils 4 a
4 01
.V Vk Illya 4a
10 .... 21
N Y Tele 4
O uQ
NY Tele'e '41
I0OH
100
100
100
100
10UH
100
100
100
100
100H
100
0OH
100H
100
100
ioe
ioeh
100
100
100
4.
1..
12
3
3
1 .
3 .
1
1 .
3.
1.
1
3
N' Y Tele'e '40
5 ... 101
1 . 101k
Nefk H'n n ,1a
i .. . nei
N & W cv ()
1 ... 103U
.Verth Wcete'n
Hell T 7a
1 . 107
1 . . 107
107
5 . 107
N Pacific R 3s
3 ... 01
N Pacific II 4
2 .. . H4
. . 84
'-' . .84
1 . . KIV.
N Pacific II 0a
1.
Nth S
1 .
1
1
0
1...
Pub Merv Cerp
N Jay 8a
1.. . 711
1 . 70
1 ... 70
1 . . 711
rteadlnir C04i
5 81
niu tlr'e A
fit 4a
2. . .02
3 03
2 02
Reck Il'd A A
I.nul'n 4a
1 78
St I, I Jit A S
niy 4i
1 82
St I, I Mt A rf
n A O dlv 4
1 77
1 77
1 77
1 77
St I. A 3 F nl
2 72l
1 72
1 72
7 72
10.. .. 72
St I. A S I' In
fi .... 53l
1... . 53
10 ... 53
7 53
1. ... 51
25 5.1
2 51
10. . 53
ft.. .. ft3
13... 53,
Ht I. & S I'rnn
Series A
1..
n..
i.
i .
3 .
10..
ft .
3)1
5 .
1 .
30 .
t.
..
10.
14 .
10 .
7
10
100
100
100
100
loe
, 00 .
53
31
54
33
54
54
52
51
54
54
54
CIS
L'n'd Mexico
Lnrse 5s
10 31
Am'n Aar'e A
Cliem 7 Hi
8 ... 101
Am Cot Oil in
5 .... 82
IS . . 82
ASA IV e 6a
1 87
2 87
2 87
3 87
Am T A T clt
1 87
2 87
Amn T A T lis
5.... 107
1.... 10T
2 107
A T A N Fa 4a
1 83
1. ... 85
Atl K1CO
1 .... 70
Atl'c Fruit
2 21
Atlantle rtet'it
ct 0s
1.. . 104
Halt A Olie a
1. ... 70
Hal A O 3a
5.. .. 00
Halt A Ohie 4i
8 .... 77
3 ..77
. 773
3 ..77
I
77
Or'd Trunk of
Can 0a rcti
1 ... 00
4 100
!!.. . 100
1.... 100
Qr'il Trunk of
inn uaii unie
nn-i 2 .. 77
(,0t 'Unit A Ohie 0
i uu
11 A O P L E
A W Va. 4 s
1 78
Dell Telephone
of Pa 7a
2 ... 108
10
'Mvr fti
. 8S
. se
80
00
Nth H l'i (!
1 . 001.
Oreiren S I, ft
2.... 00
Ore-W n It c
A N Ce 4s
3. 78
Pae & : b,
2-,.. 80
J'acK'iI Moter
Car Ce 8a
ft . 1 en
2 .. 100
2 100
l ion
ft.... 101)
Pa II Km 4
1 . .. 811
1 .... 80
10 . . S7
4. ... (id i,
II. 87
Pelinil 11 It 3h
1 l4
2.. li I (j,
1 ... 04
Pennn H tl.
1.... J0I'4
2 ... I'lfH
2 . . lfilt,
ft.... 101
Penna II It 7
1.... Ul
1 100
1 . . 100
4. .. 100
Pere Manit 5"
1... 87
Pitta C Chi 6
St L a 5s
3 . ill
08
08
08
08
0S
08
St I, S Fmn
Serlea D
2 82
1 82
SI L Seifn en
1... . 72
2.. .. 71
Ht I. 'jw'n 1i
8 70
St I. Sew't. ,iv
1 ... 71
t 7t
St Paul A K C
H I. 4'i
3 78
Seali'd A I. a(
4 15'1
2 . .. 15
2 . 1ft
1.1
13
4a t
. 50
. ftfl
. ftO
50
. 50
50
1..
1
A
feth il A I. 0
ft (sail-) 41
2 12
41 V
11
II s
12
Sinclair C Oil
Cerp 7a
1
10
3.
ft .
:i..
B'n Taa ev 4a
1 . 87
S'n Pacific 5a
I 0714
Sn Hallway la
C. .. 02
3 02
1..
1.. . 02
3 . 02
H Itallway 5s
3. .. 88
8 . 88
5 ... 80
5 . . 80
7 . . . . 80
10 . . 88
1 . . 88
Stnnd'd Oil of
Calif 7
1.. . 101
4 . 105
Stnel Tube Ce
pf A 7s
2 . 08'ft
1 .. 08f
Thlnl.lt. ul
an inn'-
37. . 40
3 40
3 .. 40
10 . 40
Third Ae 4a
0 . r.T'i
Tidewater Oil
Ce ct ilHs
7. 100
Union Pac cv
5. . . 00
1ft ... 00
Union Pae 4 s
0... 88
Union Pac fla
1.. . 102
1.... 102
United Drue
Cnmp'y 8s
2.. . 104
111 101
II n I Ce of
San Fran fti
5 .... 7ft
U 8 II A I 5s
02
11 8 ltubb'r 5s
1.. .. 85
2. . . 85
I ..80
U'iI S Steel 5s
3 00
in .. 00
.'I . 00
3 ... 00
U S 8 fta ree
1 .... 08
Va-C ('h 7u
1 01
ft .. . 01
0 . . 03
Va Rivy Ce 3x
4 .. . M)
2. .. Ml
4 00
WVm'n Mil 4 s
2 30
3.. .. ft
GOSSIP OF
THE STREET
-n r 1.
Dl(.ctl8sltiB tlip outlook nfter Hip !n.
Ihr en Kntunlri), a prominent ninrket
lender pxtirnauwl tin. milnlmi tlirri I"
,.;,, J Mifticlciit ovldt'iit'e III siRht te wnrrnnt
,lai a l.l.M .. .1 .1.... .. ...! iM..l..li.it.i.
iliv iin-iiiiuiiiiuii inui II ml I v hi iciuiu-.
iimrket would nlttuln bptween new nuil
Deceinber U.". He imlntcil out Unit tlicrc
ero ninny who Iiiivp InrRp prefilH nH .i
rpvult of the upward movement of re
cent weeks who probably would net
liquidate until nftcr the turn of the
.yenr nt leiiKt becnuvp of the hlph in
come tnx rnte that would be Inielvcd
threugb Mich n prepedurp.
Fiirtherinore, It wan pointed out In
ether ijiinrtprH that within n (ompnrn (empnrn
tivcly nhert time business nctivitleH will
be bucIi iih te warrant the uoiumptlen
that the ceunti iiut.x enter upon an
other period of expansion commercially.
There arc evidences of ftieh a situation,
but the majority of opinion is thnt it
will net actually develop until the com
ing spring. VnrleiiH (tevernment an an
.theritles recently in discussing the Ren
oral Hituatlnn have expresned the opinion
that the turn in bulnpHM will come early
next jcar and that thcrp will bp an
era of presperil. Ne doubt this is ex
actly what the .stock market Is new dis
counting nd has been discounting dur
ing the last bU or eight wcck.
Position of I he 1 tails
Itnilread storks were under home
prcssuiP last week as a result of the
bear attacks I hat were made en the
Ht. 1'aill Issues, both stocks and .bends.
Hcnctiens of from 2 te 3 or -1 pblnte
were genpral. but near the close of the
week thei.e was a rallying tendency
throughout this group.
Wlilln It is bellcu'd unlikely thnt
Congress will pass the proposed rail
road relief measure, mil there are fac
tors in the railroad world which arc
Haiti te be crystallizing that will result
henctlciall) In the long inn. Kates arc
being reduced, wnges ate being lowered,
etul efforts ate being made te bring
about n condition of normalcy under
private ownership and operation of the
carriers. Therefeie, it was net sur
prising le some that the general tone
of the rail list t-heiiJil lime pi"-ented
a stcad tone.
Ta-Kempl Securities
been the tremendous expert of enpltnl
from (ieriuaii) and the ti Mister of all
kinds of wealth. Including securities.
Inte foreign credits. 'I. I'liiun Industrial j
cailta1lsts have Iransferred their cnpl-j
lal Inte the mere slnble currencies of
ether countries, n ease in point neing
tlie rise In Swiss pxennnge te lis par.
Tills tins been lnrgel. attrlhuted te
the wholesale influx of transfer! ed Her
man capital and credits, whereas the
financial and economic situnlien of
Switzerland has been unfavorable.
Brokers' Opinions
N"ew burger, Ilendeisen & Icl
"When such n competent authority as
(tovi'rner Harding, of the Federal He He
serve Heard, fels snfc le predict a big
boom in business alicad, it is about ,
time le dlsmlsn am lingering doubts
ns te the solid foundation of the cur- I
rent constructive movement, (iovenier '
Ilnrdlng snjs, 'Frem new en the coun
try will advance Inte a n rled of mere
sane, mere sound and mere sub"tantlal
prosperity than we have ever had In" 1
fore.' The stock market and the bend
market for the several months have
been saying (he same thing in their
own way. Confusing snrface appear- '
nnces mny seem le discredit these epti-
mistic prognostications, hut the fact ,
must net be overlooked it is in the
distant futilie, lather than from exist
ing conditions, the real measurements
of the great market swings are fixed.
As we pointed out a week nge, all
indications foreshadow prompt adjust
ments which would result in far-reaching
Improvement in the International
monetary situnlien. This has been con- ,
firmed by the rapid advance in sterling
exchange, carring the (luntntlens te,
the highest of the year. The settlement 1
of the Irish question anil the apparent
'get -together' policy of the allies in 1
straightening out the fjcrmnn reparn- I
(ions problem also were side-lights of
the brightening foreign situation 1'res- '
Ident Harding's highly constructive
messngp and thp continued fneriilile 1
accomplishments of the Disarmament
Conference were nt the same time fur
thpr proof as te thp pnceiirnging wn
tilings are going from a domestic view
point. The moderate setback which
some of the reient active leaders mh- ,
tallied during the week are w'theuti
significance and aie common in even
major market movement. It has been
cendushely demonstrated the trcmlef
security values Is upward and every (
I advantage should lie taKeu or tliese tern- 1
I perary leactiens. otherwise oppnrtunl eppnrtunl
1 tics will be missed such as was ex- '
City of
Winnipeg
Canada
6 Bends
Due 15-16
Interest and principal
payable in New Yerk.
1
Price te yield
5.65
Complete circular en request
for F-4
Harris, Ferbes & Ce
Pin St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Wldoner Bldg.
Telephone Spruce 7040
FIRST MORTGAGE 8
llllMfl)
Sinking Fund Geld Bendi
at 95 end Interest
TO YIELD 8.94
Personnel and Security
Exceptional
Information en Request
C. O. FOUNTAIN
1201-2-3 Weit End Trmt Bldff
Philadelphia
GARRISON &CQ
WIDENERDLOG
MEMBERS-NEW YORK AND
PHILADELPHIA STOCK EXCHANGE
BONDS FOR INVESTMENT
perlcnccd in the bend market."
West & Ce.
investment
1 no
en'.
ni
ion
imv,
S'n Pacific Ic
1 Tl
3 ..DO
W Union dVjii
1 . 10T
2. .' IOTMi
Wentlnnhe'u I.
MfK te
1 . .10.VI
4 . K'S
?!S0l ." I
Wh & I. 1- Ui
1. . rr,
Wllmin Cn cv
11 8V.
10 .. KH
20 .. t"1.
2 Nil
p tm,
Wilsen Ce lt
i 2 no
no
'"I II Lt 4 Hi
10 .. ni.
lnth'i. n T M
40 . 52 4
B . .. M
B . n2,
2 ... n.i
I M Mnrln On
t ..00
Iowa Cent'l Ih
1 80ti
Kan C l"t S &
Mmp 4b
1.. .. 74;
1 . 7(1
10 Till
Knn CAS .1
2 .. 1114
i ... en
1 .. (14
1 03'i
Knn C A H (Is
1 8414
Klly Bprlni'd
Tlra 8
3.... 1011,
1.... 104'4
1... 104H
I.nck Strel 'Sd
1... . M'4
h Vel cn m
H0K
Lehlch Val 0b
2 ... RfHi
4 102
I.e & N'nsh 4 b
8TU
M Oil war 8b
en;
MM ratr'm 8 A . e-t.u Au Menth This
l . loeu ! aui -"." ,.j -
pn'i Year moerts Higher
i
Mll S &
1
a
.-u a. ais iu en tii
. f 1... .....x.m.II.... .. .ilentlill
M Ht I 3 Stellln' mx iiiuiiiiin. ii. c. i ...K "'"""" "'
M 0',s rctH lIereiRll iraue ruiri- ir-u.u iu.u.j ,
1 101H
10 . 101 Vi
MKtl aj wl
"Despite the very
deiuimd for bends
Next Thnisday New Yerk City will
open sealed bills for S.m.OOO.OOO of
fifty-year 4 'A per eent heniis. If the
results reecnth obtained b ether mu-
nl.it. intlflnu M lilnli Imi A r.fTnt.fi.1 .mil Cf StrOllIT
We'n l'nc .s'semltlis f()r niri,,,!,,,, lnay bP ne-,i'l I'lB'i-sriide Hteeks. sKK are beciir
..." . . .'.,?. L.onleil 11 nriinnr irilnrlnn tlin nlrnine lltllK te IllHienr which indicate that Dc
Lllien jmi "r V " ".' ;:, ,.""-- i u ,,i .. ill i, ,,., I, ,.f ,.. '
el tills iimierniKing mi e a iuirc .sue- ..niu.-i u-. ........ ..... ..- .. .......... -. .. -
eews. Various predictlnns bine been action in the stock markel Siriis intli-(
made relatlyc te the outcome of the1 '"'' 'i, reaction are the iiuicknes
cltv's financliiK. and it is felt in the wltb which Indhidunl stocks full back
bqst-Infermed quarters that n wibslnti-,1 'f,,,r apparent Rreat streimth. I hN hn i
tilll preiiiiuin will be realized for the proved true of the hich-irrade ra If.,
bends. The City of Ueiliesler en Wed- , """ ,,s I'ninn l'acilic, ( anadian l'licitic
ne.sday last sold about .$7.H0(I.(MHI of and Northern Tncltic It has also been
one te thirt-ear 4 at 102.1K17. "1"' demonstrated in specialties like
which M)tN n new mark in municipal IavUen Chemical, Interiiallimal Taper
tlnnneinc In point of price in the pic-.ami etin-rs wnicii wen- rusneu up n
cut era of evpnndinj; Uotatiens. In
fact, nil recent municipal flnancinj; lias
been accomplished In a most Mitibfnc Mitibfnc
tery lnnnner.
Tlie ict'eiumcndatinns of I'lesident
Iiaidlnc in his mesMiRe te Cencress for
the creation of a mciiMirc which will
Today's Range In Liberty Bends
1 .10
II. ah
D.-.in
im.70
I7.'J4
!M!.!4
i!7.70
1I7..1S
lOd.OL'
Liberty .T.-s ...
Liberty 2d 4s . .
Libeity 1st 4V,s
Liberty 2d 44n
Liberty !'.d 4'-iK
Tiibcrtr 4th 4ViS
Vie. Nete 4 h .
Ixiw
Sl.".412
sm.70
i)7.12
IMi.SO
n7.."
!)7.0ll
I JI
J)." 10
im.'ti
07.21
llli.il'J
!.7.Sli
!)7.2H
peel opeiatlens. Steel stocks, equip
ments and. tills week, moteis haw been
taken in hand and. in stock cxdinngc
parlance, been '(hen a whirl.' "
Hecher Ce.
'The market Is crad-
,.ii, ;,,.. f.irfin... n.itlinriiitl..iw nf inv. ualh werlilnc hiclier. thenliN forecast.
exempt securities also is a factor of better biiMnescnndtlenH for next
tlie hlRhest impei lance in the municipal ,,'ai-- 1,,,,,1 !-Ins- "f S,",,,K" lh lmvlnK its
and Slate as well as Government bend ""' -Vt the particular moment the
mnrlcKiM. Admittedly Midi ii incnstin. copper steelsM nre the favorites because
could net be made letreai live, because
they haw been drastically liquidated
JID.llS 100.00
NOVEMBER EXPORTS LOW
that would Involve the relien of vir- "'"' t " .i8t becinniiiK te dawn en the
luallv eer Hlate i onstitiillen in tins """.' ""' "- " "." " i '""
country. Therefore, some weie of th I "Btii will benefit this doss of stinks
opinion that there would fellow an un- I v,p'" '""di. The rKc in eyhniiRP and
usually active nnd iirgent demand for t1"1 pnqiesed adjustment of reparation
the present outstanding tax-exempt se- payments have plven confidence tn these
curilies with but one result, that of deitiR businesH with the Central
much lilehpr nrlces. i I Towers.
Whether or net t engress will nillien-
te the siiRK's(,iens of the Tresldcnt is
a matter of considerable speculation, hut
Lxpeits dur- in the meantime II is thought te be net
impiennnie umi u win exert some ln-
graue
80,
S
4
10
10
Canada 7n ' ..,.1"8'i
r. ioe nrltn VM D 7'
3..'. 1001,1 1. . 107.
8 . ieii!n n"PeiTK"
2 ... ioehL ?.. :
Jtip Ueve't lm,1,rKn u "'
- .... vi'v
2 . 110
Ctl of Oa UtB
C li'N Jb' eh
2 . 874
r. .. 8TH
B .... 87 U
151.. , 87',
B . 87S
B 87 S
10 87 H
8 .. . 88
B . 87
Jap Ueve't 2nil
10 .. . 87
0 . . 87
B. . . 87"4
10 . R7Vt
B .... 87U
BO . . 87S
10 ... HUl
, B 87H
B . 87S
2B0 . . 87 H
IB 87
S. . 87 4
20 87 H
2 . 87
28 . . 67H
lap Uee't 4a
1 . 72',i
.i 72 ;
in 73H
84 7X
St 73
18 73
B . . 78H
8 . 7.1H
80 78 V,
2 .. . 73H
2 . 73
f. 74
10 . . 73i
I 7 73,
1.
0.
8
8.
10
8
1
20
30
10
10
n
10
Mn K . T 2nd
2 . . 4(t ,
Mn Knn & TM
2n.l ct
1
2. 40
v-4 m Year impc
'"": WnJilnifJiin. Uec. 1
... v. i ,i i.,...f rn .. ' impiebnb e that it will exert set
fi3 4 ng November were the lowest for an ,. ' ouetations for IiIbIi
higher & nrr&X,--
(ieriiian rnancliil Mjlpr.ntlccs
the Commerce Department.
Ihiriii!? Nmember pxnnrts totaled
S'x.l.-i.riOO.OOO. compared with Sim.fUlO,-
000 In October, and .(57.."O0,0OO in No Ne
minhpr 1IVJ0. while ininertH iiRKieirated
$2U. .'100,000, cempiued with SIKH.OOO,- Uvhieh will be followed bv n positive
firm In nctnher nnd S."21 .000.000 ill Ne- I course toward (iermanv. Doubtless n-
vember a jenr age. During tlie eleven i forms of the present llagiaut tinnnclal inincten
1110I11II8 eilUPll Willi ..! riiie.-i tAj...... imiiiutum u. t..v. w. ....... v ,
nggregated $1,101,000,000. against S7,-will bp made imperative before scrums '
r.nc mm mm .lnrlm the rnriesnimdlni: i attention is mild te any idea of the I
111 ' meiitliH of 1020, and imports totaled , Wirth Administration for relief. .
4u .$2,272,000,000, against S.",012,000,000i It is a matter of general knowledge!
4l during the same month' lest jrur. I that mete hiiim has been dune in in- i
4I4 (Sold experts during November te- ternatlennl linance by the practice of,
41'. t.,1,,.1 ftn7 J.17 nnmniiti.il with S20.000.- (ieimaiis of withdrawing capital from
Till: TltADKIl
Raw Sugar Market Quiet
4IVi
44
4I
i4;
44f.
44",
44
44 4
44
Nni nrU. D. c IJ Thp riw Hiimr mar
let N iuut in I unrhimtMl with 11.. crop
Tubm ihii.UiI it t 2 c.'iih n.t .iml 1 -- ' -'it
cquiil te 01 i.nts, c tit fin 1 T 1 ur.
in mini i.-perti-.I nn Hnf.inli5 Inip.iit nl .ns
inclurleil l.i 000 haKs Phlllpplnrn t an ini
1 ert. 1 an-l Ispn l.arrH rnnnlKnul t the iri..l..
Ihn liirfil l.fin..1 m (1 I!. , I . n. .1p. il. I. i.t.
It will be extremely interesting te ami unLii.uu,ui
lcnin the outcome of the "cenversii-
tiens" between M. Leiicheur, the llrit
sh Chameller of tip. I,",dieiiiier. and
ethers of the ueparatiens (emmitti
Receiver for Brokerage Firm
N'ru lerk, Oer 12 An Inv it.r. ron ren ron
eon In Imt'iruiHij has I 11 fl . I .m-nlni.t
TlHiniMs II rrethlnfchunr I r.ik.'i i Nhh
111 strict, bv Kr.inlt 15 I 1 ke Iluri M
rrr" itnil .Ium"s s S'li mjt 1 uf II
I. I all. in 1. run ui'.Ul
44,4 000 lii November a xenr age. while im- tlielr own ceunlij and exploiting ether
41 5" peits of geld aggregated S."2, 000, 000, exchaiigi - than h au oilier single de
ll.' OKntns-t S57.000.OIIO in Newniber. 1020. velepmenl One must, reiterate that one
4i iTer the eleven months or this jcar geld cause of the depreciation of the .ei man
m m .jhm t. iiaA !.... h.-T 1..!,Iji 4r,vti, tlfji iil tAiiik.liitirf 1 rf -
Imports totaled sihhi.uiiip.imiu, agauisi niiuu, in-iu.- i...... l...- ................ ... -
$:17"000.000 for the some period in , tiwilcs of ihe Ceiman lum 1 jitm nl in
iii'n while exnerts irgregatcd $22.- pi' nitiig wiper marks b tin lullieiis, ha
.,. ,000,000. compared with MO.i.inai.u
40i! i during the first eleven mouths, et 1020.
GEO.A.HUHN & SONS
STOCKS ! llOMls
xifinhprH of I lip riilliiilrliililn. New
Aerli uuil Chli'irn stink KxrlmnBis
Nfw Vnrli ( nt Ien KirlmiiKr
Commission Ordprs Executed In
All tlm Principal Markets
Libert Donds Bought and Sold
IIfIIcmu' Court lllilz. I IIH Uiilnut s.
.N. . Ill llreidu.n
f 031. M ii A t 4 1 silver oxperis iiiiinm .......... ,.h
Carre rtePaaci n . 7.T4 gregated $5,000,000. agnlnst JM.OOO.-
Cep'r 8b 8 78',a 000 during tlie same month last jeuf.
n lll'i 1 . .. 73U hlle iinpeitM f slher for the month
I )lV-i I-- i73,J. amounted te $(1,000,000, computed with
10. ill', 1 1 r . c.vi 1 .r..(M)0.0(M) hi November a jcar age
Cheu ft O 4'ii! 3 041, experts or smer ler in.- .-.. '"'"
1, . ST; MK &T Bb wl icnileil wit II .ew-minr hkm ." ".
Docernber 1931
Investors
Pocket Manual
contain, latent statlatlcal tn
'o'm.tlen, also high and low
Pijeeifor.everalyeari.enall
'"uesllsted en the NewYerk.
.c"0.PIlladelphla.Uo.ten
" I'ltliburth Stock E
'nV' New Verk Curb
ni ether leading exchanges
""""S'lOuttheUnlledStates.
Ask fur 1 , .jj
'Aiiays IFitheut Obligation"
S-S-RySKAY&CO.
"13 IVAiMir sy ,,, ,n, ,. .'
. ri,lwillllL-IUTM
. -ill atiauiti iuwli Hsn fa- ruiuiA
u.M n,irTrr:.v v-r"' -
-. . invaff mr ayvwi
Central National Bank
of Philadelphia
Chestnut Street at Fifth
CjJhuI (l.ecc cud Swtft.1 $nJ VrdlMi htfu ttrrui (f (oe,oo
ITONER.ROCKEY&CO,
Certiiied Public Acceuntanta
Drexel Building, Philadelphia
C. S. PATTON&Cb.
Hnciessers ta
SAII.KH hTKVKNflO.N
Ilnncfs nnd tnrk j.eiifht anil sold
MnitKr rMI "tni-fa Fxrhanae
AUTOMOBILE
. INSURANCE
W" PSSX" l!T,fV,.
7 73 ' "
K ItelBlum (Is Chi A O W 4s
1 . llB'i !) Ol'i,
11 n.xu 1. ... 00
I Oll'iir'hl Mil A Pt
1. O.I1 Sound 4s
K liel'm 7l4s 3 .. . . 64'1
1 let rhlcaKu Mil
K ti.itf.m rets HI Paul
1 10l. 2 72U
" inHiW'hlmKO Mil
101 H
B . 101,
Klmtdem Den
marli ct 8
n 10H
1 . 101
3 10H
10 . ion
2 1081,1
2 108
K deeden As
A PAH
4 On',
8 . no
s no
1 ni,
B OHH
Qurensl'd I3t
Lean ct 7'
107
107 .
10TT4
107S
1074
I07H
107 Vj
I'heSvs 'u
pit;
II Chile et '20
1.... 100U
1,.,. 100U
2,... IOOH
2..., 100H
;.,.. ioeh
, (.
C 4 O cv I'in 10.. 7
1 . (mt B . . 7S1
0 . ASH 10.. . 78
C & O cv Bi B.. .78
1 R5H B. . 78
Cht II ft Q (Tm B .78
1 SO 8. 78
Phi Jlurl ft Q 2 77
II 3ttl 2 78
1 .. 78 " M K i. T notes
1.. 7SU 20. (10
1. 774 20 can
C II t Q 11 4s Mu l'acilic 4s
1 SOI. I 01
3 . 80i 1 111
C II ft Q Ofjs 10 . OOfj
1 . ioe4 1. ... no.
C ft U I ct 41 1 ... ..Oii,
1. . 34; 0 . . OO'i
C ft K I ct Bs 1 .. 00 U
B. 1031,, 1 R0I,
C A U I 6s w 1. . 00'i
4 7U Ment'a Pwr 3a
B . 71 U 1 4
0 . 7Ui Mer'a Ce 4n
2 . 71 V 2.. 83
000,000 as against $107,000,000 during
tlie corresponding months of 1020, while
slher imports ler me meiuus uuiuiiiimi
te S.'s.OOO.OOO, compared with SS3.
000.000 dining the e!eeti months ended
November
1020.
Financial Briefs
St PI d 4s
1. . B74
Chltage Mil &
SI I 4a '21
7 721i
Chicago Mil ft
HIP cv 4Hs
4 . . ifa'i
1 02
Chlcate Mil ft
StP fd 4M
3 . BBH
I BB 14
I . M'i
1 .. 64U
Chlrnae Mil ft
SIP urn 4 lis
8 70 tk
10. . 70
Chicago Mil ft
Ht P'l cv Bs
I .... (13U
1. .03
10.. . 02
C A Nun HVis
1.. . 107 U
B . . 107H
C II I ft. V fd
4 TT
10 7di
13 7H
Chi A W 3 4
'1 hA nt.r.p, iirl.A nf tinl nctUe IikIiis-
tilnl sin, k luUnnced 0.VI ir irnt mi S111
urdaj te SO il hil" tiwntv riulreada m
0,13 per unit lilblicr at 71.18.
Srtietnri of tlin Treasury Mellen an
rf.unciH nrtTliiR uf ti new lnfluen of ia
ci'rlll.catcs of lnlft;n.neM One Imin un
mns' for six nienlha mitturliiK June IB. 1022
beurs 4i I'd cent. hlln tl,e ether Ishu
mrtturfB In mil' senr. IJici'mtnr li. lli'.'J
and hanrH 4 vr cent CembliKd oflermi;
Is for alxiut JJBO.OOOOOO
1 U4
xr... i ,i ' HlorKlielilprs of Illlltn llrntlni at n p
.Mera Ce 4jH ,,!! m,etI1(j ratllled plin fur nrquUlllnn ul
- no - xviuiuni rarreu nun. 111. Yiriuun uu
Nil Enam'tf t .common nnd preferr.d ilmk i r.-prenf. d
Stamn'L' Rh It Is ixpeited that the exclinnK.i uf stork for
2 ,,,.ii thnt f ll" rnr.-ell ceuctn MII be ilTe. ltd
N Or'a A T 4 L "'" I
1 . 721!i Niiilsflric Mlni CnmpHiit production for
.ew ur rex & ni,.minr iih wiiu.hi hi .,.i . a .luua ,
.Mexico Sa
8. .00
1 OH
New Or Tex ft
Mexico Ot
1 001,
N V Ct'l Ss
4 .741
M vi r- ,.r II ' ilinfreni .xni.'riuin i.nnKa nnn imrir
xk Lent 1 n tn(, cuy nf itume lnuim Mirvinx from no
. i.
I ..rice rere'M.i hv renifany for slher Is cstl-
inaceu ai uu cems ur 'miicc, (
Te Incrrnsp wark'ne cnpllal ilmvleis of
the i:nsl.'in l.inufiitturln fempans lles
ten prep.n' tu luaue IL' BOO.OOO first ninrt
sdi;.. bendH of 11 proposed uuthurlzutlen uf
1.1 000. (Kill. ,
ri. illffiTent Ani'-rluin Imnka hnxe effeifd
fli'j
00
00
nn
OS's
08 t
no
ns u
IIHH
N y izdisen ;
0 'in wl
BB
BB
25
IB
III
(1..
3
6..
7
1
I .
1
1.
4.,
9..
1
100
100
ion
1011
lOfli,
1011
tee
1(10
ion
100
1011
1 0(1
ion
leim
100
10BU
104
010 000 tn JIB "00 000 In tile lust three
innellii urnnllnii In .1 htnlement h Vh
Slujur lliin.llnl Nene im iiccpteil, ns
tlllUH ert' t'.iiiHiui.reii in., iiiu.j inn iuhi
Inlerist rate mentioned twins I J per 01 nt
'Pliu War riminie Cernntiitlnn from I)e '
cemb, r B In i.'trniler 0 Inclusive uppreied
iBIl idani'f, llllKrKllllnll Sl.'l 20,euu for
agrlculiurul and llvusteik purpun's
1'nr nine months endid Pejilember 30 Mar I
land OH ,eTMfiin and sulcMlailtn allow nt
ini.une uf er txpanscs and Inierust of J.',- 1
003,132 '
riitiHiamllnu feature nf Inst iek h liend
markft was strrimth shown bv the new Issue 1
of 1(1 4.'4 000 uri'Ken Short Line Rnllnn Orst
rnneellilutid meslEiign 5 per cent bends I
After belnu offered at a remiarntlel high
flaure OIVi thesi" Winds were In such demand 1
that th.y iiulck'i advanced 1' points when
plated en the curb inaiktt
1! Ilulh lira nn sldent nf the I'llllml..!
rhla National Hank hag been elected a vlci
president et the Foreign Uxchanga Club,
Hank of North America stockholders will
meet January 10 te ete en Increasing' tha
canltal from tha Dresent s mount, tl. 000. 001).
,10 2,0Q0,P0O, ( ,,
fcuiuii , ,, U
Trtrasury Budding, Wathngten
NEW ISSUES
United States Treasury
Six-Menth Certificates
4!4
dated December 15th, 1921 due June 15th, 1922
One Year Certificates
4!2
dated Dec. 15th, 1921 due Dec. 15th, 1922
WH INVITE SUBSCRIPTIONS TO riOTII
ISSUES SUDJECT TO ALLOTMENT
Price 100 and accrued interest
Commercial Trust
Company
Member Federal Reserve System
City Hall Square
SPRUCE 8200
De you knew hew
te invest for profit?
INVESTING for Inceme
and investing for profit are
two entirely different proposi preposi
tions. The first ie compara
tively eay; the latter requires
a knowledge of the many fac
tors that govern price fluctua
tions. "Scientific
Investing &.Trading"
is a newly-published 96-page
book that contains a complete
chapter devoted te the proved
methods of investing for profit.
It suggests hew te distinguish
and act upon the economic
situations that affect the mar
ket value of stocks.
t nil Irlrfhnur or u rite for your
!( r ,jy of booklet I 113
WM. H. McKenna &. Ce.
221 S. 15th St.
PHILADELPHIA, PA.
Chlcsee
rittiburch
SALESMAN
An old eiinbllithMl. hiiTli-frrnde
lnpttnpnt tioime Imp an opening
for ii rlrnn-eut jeunt,' mnn with
hpIIIiiB rxporli-nce, net nirr!Bnrlly
in M-MirltlPft. rji (Irtells covcr cevcr
ItiK i-.lur atieti and business pxprri
ctii.. in iipplhuitien
( 713. l.r.IK.KU OITICK
!INAN IAI.
Mirrlnl AIeetln
r i-' TI1K HANK r NOII1II AJIKHICV
"-' I hilii Ti. lemlT 0 1021
,Mi e Is horehy trln thnt r special
ii ni nc nf the stnkhi.lili.rs of 'I Hi: IIAJSK
III" MlltTII AMKUICA lll I- heM nt th
,,nl, V" I'lii'Htnut sln.i Plilln leliihla, eti
Tueihi. JPninrv IO. 1022, nt I e'clix-k
! M . f'.r enlileratH.n kii'1 iirt.nn bv thn
,i i"l'hnl.l' rs of the pr.'i.N-1 in reaee of th
ikiiIIb! nt'M'k of iIip ll'tik from lioeonnn
te fi no" een pinl f..r i.nideratlen nml
ni tinn upm .ertiiln f.n.piBefl iiiif rvin"nt te
Ii AitnlMn "t Amiei lallnn of the Tinnlt.
i: s KnnMKrt
Cashier.
COM.
perhil Nntli es
TlTn l'HHMIKr I.IFK AND THUhT
""- ' ii.Jm ur VIlIl.Alir.i.i.iifr
N. W. lerner Tiiurth nnd Chestnut Mreel
,'niiH ..-ii'i..., .....viiiuer tilf 1B2I
hi tub sine khei.iii:kh or thk i-hev.
K I .Ulphla lll 1 hel.l at .t.,m!S?tl
,.i,eve ml.lress en eilnesilny, the Si.1
3? or lief"'!'". 1U21 t 'isVelJek
nnn. tr U- purpose of ,uMtlB fe'
ln.l ''. .'?",""l4...1f V.:"""1" I'.nl
New Vetk
Paterten
Beles 6-Westvoed
Membef3 Phila tock, Exchande
INVESTMENT
SECURITIES
Lan&Title J51d. Philadelphia
PHONE LOCUST 4721
VI ,. demtmnv of Phllaclelphlu of Its caplta
Twek-Ier the benefit of ts pollciheldersa,
ii.. ron.rilen of said Company Inte
mutual '" '""""P" emr"v,,fnl,''' Ih
mutual n ie in cui alive "jjii riu unuer ths
rlrolNlenh nf f.ie Art of Aesembl? of Uy.
r'.mm.npalih of J em.ej Hunla. .Ne j
nliurex.' . rtH' - .--..
Thi- Hlnr(iM pan was adopted bv th
n rerters of th- Cempunv and hjs t-sn an
proved l' 'ha InsurMnre Commissioner or
the iMtnroeneilth of PennsvKHnli.
rrpls of the plan win ha niiiid te the.
stn. holder- Additional copies may b, na,I
upon ippllcatlen.
llj eiuer ei um imara or uirecter
rJr-f Till
LI.U.NAKU C AHII1UV
Secretary.
z&
N'ellc.
II.NK (r MHtTI! AMKlTiCA
i-iiiiii iwimDr u 1021.
.niii-. m itt'i'") Kt.-u ii hi a special
meillnir of tin- Me. Iiheid r of Till: HANK
OP Xlliril MKKIC lll b,. he.J m ih"
r.Mnk '07 rh.'Ntnut Hint Philadelphia, en
Tueilu. .luiiniir.v 10. 102i, at 1 n'rlerk
P. M. I it i enl'l"rntnn and union hy the
StPikhe'.l rs f the t1-ip,pj tnciinfv of the
. ipital teik of th Mirk from tl 000 OOO
. .. I i Din. I. fill iir.il lur i nn.M. v.i.. .. .. .1
nnsld' rati
and
l.i 9 ' "" ...... ..-. .-no-.' ... , ,,i,
action upon c.rti.tn prope..! umejidin.'nts te
the Ariicl s of Association of th- lianK
1. P KU(iMi:it
I axhl. r
'repn.iiU
ii.eitr.M k pin: rei mik
Edward B.Smith & Ce
1411 Cheitnut Street
Mimbera New Vnk .ind Philadelphia
Meck Exphanses
Investment Securities
Philadelphia New Yerk
Members New Yerk and
Philadelphia Stock Exchanges
1410 Chestnut St.
, ,
Allegheny & Weilern .lit 4't 1998 '
Baldwin Loce. Works .. lit 5'i 1940
Market Street Elev. lit 4' 1950
Sun Ce. . 6"i 1929 7'i 1931
IMORLEY, WOOD & CO.
333 Chestnut Street
Mrinlierx I'lilhi -leik l.rli
Bends for Investment
( Irriilur I'pen lleiiuest
i or r.fi, nil -nf f).lc k Ovfr " i , s
I'hl.iilelih.i fhestn-i si
lllitnlli- (lt 15! llninl.l
The National City Company
Hlililenil;
Till. 1.1 IUT UK sTOUMli; HVTTI.lTr"
(OMPANV
Al.ciihen ....niie un.l pith Mreet
Ph I i.le.iHila U i ember 7 tnjl
The I renins In." declared a dlMdeml nf
Tlirrr I)nlhir (1S3.00I per share from the ac
lunivilaiid sun lua ut the company en both
irmmer and preferred stocks, piabk Junii.
nr 3. 10J2. 1 1 st ckhel.lera of record ul the
tli se of buslmss en U.cenfbcr It luji
Chttka will b.i ma led
wAi.TKitu HE.NnnnseN
Treasurer
AMI
.mapiiim: tOMPAN
Till T IHMtH.iM.i:
Te Ihe llnlilir of the n .Mertcuce Ilnnds of
the l'lnreni e Pipe l'nunilr mill .Mnchlne
Cuniiiiin) .
tsealcd proposals Vll l. re.ed uittt 3
P SI., December le, lOjl. if the oft! e of
the '.miniima!h7 Title Insurance and
Truct i emi an TrdHtee 12th and fhestnut
streets Philadelphia le- the si.e te them,
nt null dis. eunt rlr mce-' . ush payment
as th.i he d. rs thereof rr... effer of all or
am part of se mnnilbini'H of 110C0 or 1100,
of the Plorence Pit' -undrv nnd Machlns
C'empanv MertBti'e; n t- sum of 110 000,
appllcilil" te the .Hiiikln? J'und Mill pay for,
in acrordance vtth tee tei n.s of Mertcnire
made I v the r erencn J'lpe I-'eun Iry and Ma
chine Cempanv te tfc said Tiusiee. dated
ebruar 20. 111M 2 .
Lewest h ds lih.n tie number stated will
be considered nnd If accepted the parties
offering them nd. seil r.t enm and paytnent
n mnde in .urrend r and trinsfer of tha
bends en in ! after Dmber 1(1 1021
Interest en bends se accepted ulll cease
en P. ifmter 15 U'21
Th. Trustic reseres the rlaht le lejtct
mn ei ail bids net satisfactory te said
Trustee
Ph u 1 Ihe prlnrlpal sums of the bends
offered nt the name rate of discount by dif
ferent I elders exceed the amount of the
.-Inklni; I'und for dlstr butlnn (he Trustee,
i I'l rhnei"- bv .et from said bends the re
noire I numler an I umeunt thereof te ba
r. I-Mi e I ard rild
I'r ipesiils should he Indorsed "Proposals
for the Hale of Hnnds of tie I'lnrene Pipe
F undr nnd r.ichlne i e I irtuaKe' and
i 1 lreed te fHAni.nH K ZPii Vice Presl
rtr' and Ti ust (ullt. r Commonwealth Title.
Insui i'l." and Trtut Ce . 12th and Chestnut,
Stre. t Phl'S lelphlll r
C-. MJIUMIKAMII TITM: IVt-PHANCE
NI TRI'T CO . Trustee
lie ll.f I I'I21
STEWARD'S EijuTphientsTs. LEVIATHAN
S.'d e I hi 1 in tiilll.-"i ler tlie hupp
i- a 'I i " " 1 iiifriaN for iiti m. it
f II c MimHi l.epHrttn. tit if (he 1
I ith .' It in i f' i Ifli .p. -ir. i'l ii -
in I ih r .iil.iit j ih,. ustiil mum
and m!m ih will I., r, .. I l.i he un-
I rsn n 1 Hum (i !. H-miI'Iuhn Wm.
'H y- lp ( m I in udli v Ii Niiiiji
Ken inhi r .'II 1131 it whl.h tun m I ill e
c. ii i ii iii i. i , T. i pi ,
II . I. . M III en- . OP te I n 1 lulu
tiaili I HI I n rn e.. mij n r , , ,
!' .11' '1 f"' Hi" l!ip!llH nf (hi Kfe i
a '.I h I iriiiini of ii, s 'I .tint rsn
Hill, is w II le iriiuire.1 te Htate ,i lump.
huni lln for Mh.h the wl . supl lj alt
'h i'i 'J ai I ma'. -in i. ee i .in, m i
sp. Hi-nil n and thnr iitt-miin is cs
re ii 1 tr.vM, te Tltl of the steiinca
' s iil ti r'-k-u'iiiieti thei i mt lined
it i h m.it u b'n. ilv ..in ,.,I uh In
' mn "I. Lit" The i twin ii tesened te
l. . t ni . r ,,l I rls
11 ..!' in lip. I. ,.l,talii..d I i ippll
'' ',' "' un I "slaiii. I uni en ! poi t
i I 1 O ' lit i h i .
Intermit nnul llerc mill,. Tl . rliif Pa.
Wnts for
i iiippivii iiiiAiiM r r i'iirpm
I. li fi ul II I I M I'll N( s iHW
i 'h'ef nf I'niiNtrut 'Inn
I'l III 1 x.VI.I.
Hi Order of the Harber riimniUslnnrr
nf limit -lr t I'ltr. ( umilen s, J.
n mi i inn uii.e or t ,.
1
nniiiilJ)leetlni:s
3sy nn: HiiMiUN rnti: ins. "te
IS? OI I'HIl.AIkKI.l'HIA
Plillae ' I'll. a Nniember 21 1H21
the imnuHl e ion ler dnciiem e, ihe
n.miniri. Mi'l ' beld at t' ie oltke of the
.imp.ui Ne -l-l Walnut M Pnlhide phu
l-.i en TursilM. .laiiiiiir 17. IU22.
Polls evn from 12 neon (e 1 P M,
WIl.ritLD M'ltril
ferret ! l
5.35"" TUT. l.lH.VKl) .NAIION l, 1IMV
kS I'hlliileliililu. I'ii,
peieilllur 12 P"2I
The Annual MeetltiB of the stecMn. ders
nf ilns lunli f 'i tin .leitlen of dlrei tern t r
the uisulnir .em l' he hid at thi 1. 11. Ii
me linus." lid ulli Third sire, t en Meil
ueiln. Jiinuiir) II. IO;.', ut 11 n'rlnrk , M,
1 IIAHLKS M A.SIiniN
t Pasliler
f-A- TK.MI1 NATIONAL IIAMi
'' Peeember 12 inj
The nnu .lMei.tin of the siei liheldel B f
the Tenth Nitleniil Hank for I hi. eleot'eti of
dlieiterH v II 1 1 held .it Ire imnklnn house
Tiirsilii, .limiiiiri 10. tUii, tctue, h the
hours of 12 and I ii'i lai k.
Ki:iim:itr i. -iiapi-'i u
Cashier
Vtf. SOI Tll HK VTION llMi
Phil l.l.ii. (,. ii.
Aen' ul K II. ill for IUi, 1 ,, ,,, ,.,..
en
from I.11 ii I". Hi''
en mum. .ini via u
m r fi
-ears
!!.'
".",''," 'i1, ,' '" "" P'lnden. ,
HI le 11 1,1 I. r-, eiw i ' ,r , ., ,'
renla' I 1 le pi 1 1 ,., ,.,,,, ni
lessee I, yiin I.,,,., im Ba(l fa, (0,-1 Kureti
for fait ifui . rf iinianie et , ,,, i
series the r.lit t 1 1 le I nn 0l all bids as
mai l. Ist for .im t im. r. ts
V .erf Pe, .link f ,, j,f,) .r, ,,r,,, ..
l" ''i'"""" Ih ij .. empsm ,ah bid
iheik tn I,.- retiline, , .,,,.,,,'en ,,f lease
.'.." v. .. 11 11 n 1 n.i.n mall.4
th. 1 Inf irinstleti us te
mi ai pin allot
1
ind
nulpment .,1 I. hn.; fr n, f, ?',, ff
r."aVi".-!,r,d',',"rN',r,':r"I""'r ,l"u"' " Htv
A.Mreps nrnpnsnld te Mr .lenrke X
Uradln Chnlrmiin if ill ml t iil.......
(eniri II i-,tj j(s
inmlMHli nera
ruin I, n N J
Pile 1 i e 1
lli-l"
i:STKHV s Ti: PI NITINIIAHV
2lnt I ii 1 1 mn 11 11 1 t rune.
I'll liliU'lphlil. I'rlinsjltiiiilii
Sealrtl ji'ipeaile ulli , ,,,i r,, d .u-
111,11 12 11'ilnek
ann. e named 1'is'itutien
neon IVi ilnril 11 . Deiriiiher il, 11121 for
iiiiniHimiM u:a r ami rinPH simLii.h
f.u ihe in.. nth f lvi AU 111.2 and alVii
The
Mil K fir Uu it hi ' Iih of Ismi it p.liruurv
11 j ,inll I'l..' I ,' ' s tl.ercd f,. ,,f
t.ert. V fr luht nnd ethet ihuiacs si sueii
Mm ..id In sui h iiiiantltl".. is uw 1,0 ,r
UUlrcil mid K net ns 11 pn senlnil w M
rni iru wui'iiii . '. ne in. reased ee
1 ne iii-e' ,i 1, ...ni ,ii. j.iii ( n ,,. ,..
Hank will be h. Id it the H 11 1,11111 Hejs n
Tuesilie. Iiiiiii;r IjmIi. IDJ2. leivieen (he deiieused ( tie dls.retien of ihe Heard nf
hours Of 10 oiIeck 11. an I P n'lIiKk II. Insp.il. r The Insii. "ors ies..t the rllfht
i: II WI'liT 11 . 1 auv or al' I Ids received as thai?
mai iieem rer nin heat Inleinsta of tha
Ins'.liutl in '"
HHMI.KT J MiKPNTY Waril.n.
Annual Klrftlens
-,... 1 III'. ANM l."
I2E. n.Mmliers of Ihe
fa shi
MKK1IM. Ol- Til
hlliidrlphl 1 M mu.
,T. th
,.idi....v.-. . -" . ....rii'iu 1 .nnul.
(ncturrrH Miitunl I Ire liisurnnie Ceinnunj
will be held at the nmee, f the reinuHnv nil
1 Commercial Tru;t lltilliliim l'rlilu. .Juiiuiirr
.ISIh. 11)?. t e'elnek.
I HlCHATin II MOimiM Reeretnr..
KSS THK ANNUAL MliETINd OF "tills
... . t"vi'imnii ill eiuil N linen VMJIIiyiiny
yJH b JwM at the fiffloe of the. company
Mil and ilarket stp.. PhlladePihla, I'tyf
J,-- THK I'llIUVDKM-UlA. NATIONAL
Philadelphia. Uecernber it. iet
The Annual KUstlen for Directors "l.
b'l'l . al tha . Krui n Heuse en TiiiJa.-'
l si
tuirv I
lien one)
Jjiiuuiry III
Me
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