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' EVENING' PUBLIC LEDGEK PHILADELPHIA, TUESDAY, DECEMBER 27, 11)21
2L
fTTn
L..
New Iatua
Exempt from All Federal, State, Munlcipat and Lecal Taxation
excepting only Inheritance Taxes
i
$2,000,000
Dallas Joint Stock Land Bank
(Dallas, Texas)
5 Bends
h$ued under the Federal Farm Lean Act
Dated November 1, 1921 DUe November 1, 1951
Redeemable at par and accrued interest en any interest date after ten years from date of Issue. '
Coupon bonde, fully reenterable and interchariKeable. Denomination 51,000. Interest payable
semi-annually. May let and November 1st. Principal and Interest payable at the
Bank of Issue or through any office of the undersigned.
Autherity: By Act of Congress these bends, arc declared instrumentalities of trie Government of the
United States and arc prepared and engraved by the Treasury Department.
By u. decision of the Supreme Court of the United States, rendered February 28, 1921. the
Constitutionality of this Act and the tax exemption features of these bends were fully s,us
lained. An amendment te the original Act of Congress creating the Federal Farm Lean
System has been passed by Cengre5s which .permits until July 1, 1923, of the issuance et
bends bearing interest at the rate of 5;4.
Security: Obligations of the issuing Bank, .shareholders' liability being double the amount of their
stock, and collaterally secured by either first farm mortgages or United States Government
bends or certificates of indebtedness.
Government Supervisien: These Bank operate under Federal charter and Government supervision.
Their bends and the collateral pledged as .security have been approved by the Federal Farm
T.ean Beard, a bureau of the Treasury Department of the United States Government.
A legal investment far alt Fiduciary and Trust Fund under the jurisdiction of th
Federal Geccrnrtient and acceptable as security for Postal Saetngs and ether deposits
af Governmental funds, and the Banks may be designated by the Secretary of
the Treasnry as financial agents of the Gectrnment and depositaries of public funds.
Price 103 and accrued interest
Te yield about 5.11 te optional maturity and 5!2 thereafter
Halsey, Stuart & Ce., inc.
Land Title Bldg., Philadelphia
William R. Compten Ce.
14 Wall Street, New Yerk
The above statement arc official, or bastd eti laforraatjen which we rerird as reliable, and ate th
d.-.! upon which we have acted in the purchase of Ujcm bends.
Ten years
have told a man-cleus story et: devel
opment in industry and commerce.
This lias been reflected in the growth of
trading in stocks and bends en the New
Yerk Curb Exchange. Trading in stocks in
creased from 13 million shares in 1911 te
118 million in 1920 -in bends from 74
million dollars in 191 1 te 133 million in 1920.
Jene3 &. Baker have also grown, extending
their facilities te render prompt and accu
rate brokerage service.
Widely known asmfermatinn hccuLiuartcri"
for the clocks traded en the New Yerk Curb
Market, it is notable that nearly 40 e(
their new customers are introduced by old
cuMemcri.
A.U illmtrated booklet en this
mwket and the necuritlea tmrled
tbeieoe wfll be Mint cm rcqtieit
PbiladelphU Gftkvt
Vldecer Buiiltr
Tdtfhenti t
J!! - . . Uvuit4'A
&- ver.e IUm &
Baltimore Office
UJ Euble Uulldle,
Jenes &. Baker
tMcirbtrs KawYcrl Curb Merl-rt
Direct Private Wlies
IrrVerlr CVm; Bolten PH'trf:',
rCHARTERS7
,ik a rresTTHK Ik
CHAirrCRED llf
i UNDER TUB
1 NATIONAL HI
ACT
SS
Spruce 8200
United States
Government
Securities
BECEKn IF3 niA'ARTUEST
Commercial Trust
Company
Utnibtr Ftdiral Rrr KjiUm
Citr Hall Squa.e Wett
i Keystone Telephone
Company
' First Mortgage 5s, Due 1 935
and
Equipment 6s, Due 1929
We shall be glud te
furnish full informa
tion and quotation of
the ab e v r, or any
i ether current sc
curitica. : HARPEG& TURNER
i In' ciiine'it Canker"
i titeck Exchange Building
I torfcuien Philadelphia ji. -
A New Service
Wc greet the New Year
by introducing a
Savings Department
On tlic first Lusiacas Jay of 192? a Saving?
Department will be at the service of customers
old awcl wctv of tlic First National Bank.
Ibis saving's department is a response te a long
held conviction en our part that the thrifty arc
entitled te such 'protection of their saving's a.s
institutions of ?reat financial liability juJ cnci
prue afford.
It .a been mndc practical for in uiilitutien of
uur sue en account of the growieg tendency tit
thrift and saving en the part of the people of
this country and thin city.
Wc Wc during our long life (and this hank i
Number One in the National Bank System)
had, te an unusual degree, the confidence of
corporations, firms, partnerships, individuals and
ether hanke as evidenced by the $30,000,000 or
mere of their money which they new have en
deposit with uj.
Wc believe that a similar confidence in the high
responsibility of this hank -will lead many new
friends through our doers te deposit their saving
with us,
Oav trigs Department
First National Bank
of Philadelphia
315 CHkSTNUT ST.
Benda ler Inveatera
Keed A. Morgan & Ce.
cmixra et tlie piuu. Dteek Uieh.
'i i li JB
Lawrence E. Brown & Ce.
CLRTIF1ED PURLIC ACCOUNTANTS
lDO UEAli KBTr: TBC6T BLDU.
IrveJtisute mJ adjutl caiior(itlen and
nirti'trehlp noceuata and pteptn tntam
Tu ntLirn. j
CASSATT & CO.
Inveislment Vattkara
tt)MMUnClA, lltllST UUJO.
IKIU
rhllndeluhlu
New Terlc Btltlmer flermten Httiherh
nrnfj
SESSION
ON CURB
WITHOUT FEATURE
Deallng3 en Small Scale Te-
boccea in Demand Oils
Irregular
New Verk, T)cc. 1!". Ilurin en tbc
Curb today wee c.tremr!y tjulct nnd
dcallDR.i wrr en nbmit 1he pmHllc-t i
m'alc noted (n soine time. Thi-re wiw no
frnttirc, clutnijc". IjcIhb rnnfinrd almost I
wlielly te fracUnmil uiimimt''. niirant
MoterH field n t 2."(,, and the Indiuim
stock ranged from 1 1 SJ te ll'i. I-lu-,
coin Meters A m eteady at "'. '
The coal .stenkt ere qillft. Knrrell
Ceal opened tip "i. te 1I0'. and thpii
declined te Itt'x. (jlcnn Idcn vus u
fraction higher. Toburve stocks tverr In
fair demand. Tlrltlub Amerlwiti Tobacco
mi.i unclinnprrd In jirlce at !-; "id
I'lillip Merris was down ',i. It. J.
Keinelds H enened nn 7i. but later.
reacts!. Lulled lletnll Candy van off
a tmall (rnctlen. Sweets Company wan
eteady.
Oil steekn were Irreirular. Anglo Angle
American started with a s'n of , et
1SK, bnt lest it In the nest few niln
uti'N. Standard Oil of Indltina hbewed
an curly etiu of ft, hleh It nlae let,t.
Itnpcrlul Oil of Canada htartcd with u
gain of IM6 peiutB, ut 103. and then
reacted te 107. Cities Service common
rtuiged from 202 te 200, a least of C
points. i
In the mining croup, Seuth Amcrl- '
can Platinum had a further lob of M.
te 3.
IMJtSTRIALS
Hlrh
Arm Cel!
Acir.j j'lvKiair u
a nubivr nta -
Amltilen I'',
tlr.t Am Toe roily
Carllile Tin 'J
Cut uleld Ce l(d lii
Columbia Emerald 0
Pent'l Jttj- t''t
nurant miis
Parrll Ceal
ersm Lietnes
Gibsen Hewell ..
nlnn Atdcn Ceil
Geld atm Pictures 4;?
incr imaejr ....
Meby Mi-Nctl . . . .
t.liifeln Moiem A
Niitlnnu! fnthe
I'Miilip ferr!B ...
n.-rtJe I'etn ....
ndte Cem nrcf
II J nryneldi fnew)
stinrlard X!et . . . .
iw!ft Inteinutle:ul
Mlfclte 'e
Feb Pred Cxv 4't
Tedd Ship M
'. t, I. i. II i
n 4 it p.-c: i
V B Hhle Cem 11
Stilted Prellt bharlix ... -v'nlied
Hit Conay t
New Issues
Subject te approval of the leyalily of the itasiic, prier mlc and chanuc in
price, wc offer
Allegheny County
Pennsylvania
4 Bridge Bends, Series 10, total issue $1,500,000
4h Read Bends, Series 23, total issue . . '. 810,000
Dated Nmcmbcr 1, 1 02 1 - Due Serially each Xmrmber I, 1022 te 19SI, both inclusive.
FREE OF THE PENNSYLVANIA STATE AND ALL FEDERAL IN
COME TAXES. NO OWNERSHIP CERTIFICATE IS REQUIRED IN
THE COLLECTION OF THE COUPONS.
Denomination $1,000; coupon ferm: p-innpal or both principal and
intercut may be registered.
Interest payable May 1 and November 1 , in Pittsburgh.
FINANCIAL STATEMENT AS OF NOVEMBER 1, 1921
Assessed Valuation $1,91,313,22140
Net Debt, Including These Issues 31,726,725.08
Population (cciu.ua of lltO) 1.185.808
The bends arc offered at prices te yield 4.15
It is tntitipattd that temporary bends or rtes'tpls, later exchangeable for permanent bends, ean be delic
etei agelmt payment en or abeat Jenvcry IS, 1322.
THE MELLON NATIONAL BANK
Pittsburgh
MONTGOMERY & CO., inc. REDMOND & COMPANY
33 Seuth Fourth Si.,
Philadelphia, Pa.
The ebeie information apt) stattztics have been obtained from official
ter.rcti ana, althoesh net guaranteed, are accepted by as es artarate
lr.cle-Am Oil
i uc'.f ye V V
Hvrelta. V 1j ,
mrrlnl O'l
IS O.l or l.id ,
d ull et N Y
1 DO
: P.M.
ii i't
2't I'- 1-V I
10H lfl .
70 70
.i"n .!" . n-9 i
US "'4 t '
nil t'i'l llit i
1.Va 1.1'i l.i Va '
17 lfl' 17
43 -rjri w
,4., A i
nj n t- I
. . . St l f'S
... a'l -J ';
t n
...'. 0 li H
;:: P, li'" '
li '. 3'.' 3D CO
r.'v Vi .."'e
. ... inu i.-,v, 2s;v
.... v:i 11'i us
Mi r.rt
Ii7 r t
It 11 " ' . r
BT.VMJAJU OH.S i v ,
J1 -'t u'v 1 s v'
M hi hi " i. ,Ti
m 107 !" ix, iMiiMHLJiSsfteij
3,3 WMiifnfiTTnf t"
, I rettl Moter CuMpanv-Detretl.MtchT
l'i 1 I
p'? e'J . Wc are confatructers of
s" a ' i mere atecl mill nnd
10. Ill I
it! l$ factory buildings than 1
w, ,!. . any ether concern. I i
i, A McCHntic-Mar&hall I
., 'J te ' ' I Company
1'''!'-. ':, I ' ,'r,l U9W!ii 1'lui.buj-tii. r 1
ll'iy 11V, I I bllaatliiV! Merris HHi I
.'' .;"; t ." , Tt-i f ii.ii4-e ta i I'-b . a
iMcOintic-Marshcai f
:' -r SBridgesjBtrJldiiigsJ
i i
1J 11 .
.r .r I
5'k ' I .
41) 'l i
3 .;v Cxty of
k J: : ! c "''" "" li r-rv- - - -- n'f
G,e Bends ll
. m i
'0 ion Dti- iJ-16
IH'J ! ' I
I . 1 I lllt!0.11P I
111. i i
i I
Bread and Sansom Sts.
Philadelphia, Pa.
us
81
hi
107
363 HU3
INDnniNDENT OIXS
Allea Oil 07 f.7
UkkiiBas Nat Qis 10U 104
lcen Oil 24 -'J
losten Uyeinluc 73 7fi
'aril, Sn 4U i't
-.! fervid (eldl 20'J 100
li- Srrlcj IV ctts. . !!'.. HV,
iinf.tr. tc Ce 'i
'rfcil Sn i !
l'.lk rfj.in rt i.'i
KnRlncre I'elrel CO
T.Jernl Oil 1V;
. PVn'.uid CVj
'aiiiiunj en u
'ilei. rec'x O.t l'i
i.rjnic'a li
Hutlnun Oil 11
Irni-crUl Oil ft'-i
InilXTlKl Oil Bret 7'v
tut I'jirel lfl'
i n 'ii C'rf!r 17
r m".u i'e (tit
Merrltt Oil 1
'M rletii Pet W
I.M,li-0 Oil l'
I.Veuiualu Products 10
Ne iu oil
iNei ', f,
U'r Oil 7
I'd Utk Oil "i'll
llrd Uriit Oil .,.. (i
.rit "rcffc prei u
Supj'Pi Tift '! -i
'Siinna Prt )l:
iltnll' Oil V.
I I'fxen 1-i
I .IcieiU Oil cej- SO
v or .s
rid Otaife li'-.
suni.ve
Alaska Kr Cclvrnbla 1'L
Uz l.iiaa it
.IIehi- f. Ment bl
1 ern Cnp S 1'4
('ore3 tHvi S7
Cr f e'it M'Nanuri .... 4
,ll.iu.i 1 IMvUle 14
He e r-'eund 'JH
Indr-iiidt-ni I.atl n
JUiiii a Ceppe" S
.Mnitii r Lede eet 1
MelueiT) Coe 11
.S'j tlfi iul Tts .17
Natu, Oshlr 40
s'lplmlrt' 7
Plltu Mi Stmrta, 'J3
IPfi' H-v.alf Up
Ite. i.mt.ir Silver i.T
Se i ! A O '.
Tei 0,111 Lilvlde 61
.LnitH lTactun z'r,
''i i" 0 Cot Si
Vcjriiutvi 1 ,
1 IWS Us
I Al-'i relier (li . . S
Ali.r,' l&ikr.- etfa 1i
I Aiui I.iuit ',i IfUft . . . lfi'i',1
I X. nfr 'e a 1IIJU . . .11
Ai if r -nsr Kef 3s ll(3I. 0V .
A i J 41 16 1,'i
i Ann pc 7i mvn Ki
r', our Ja irn
USUI -tMi ij 1D-.6.. ..
lfn I'm 0)
f I 'Irayh f3
, i e t r rpe,-t fn iei;-t
Unni i-li Tire 7
1.1 li If Oil -.3
Uu n Cil 7u
1 1 ti ruo-e S
Klil.'i'OLi 7j ....
LHbi .M Nel 1 7j
Ma, r i Ce 7'"j e
1 Nai Ai-nie i'n
O-ffen tl b 5s
'til fetel Jn
I i-1 I c J t'd
1-bi -ill. e "'! 9
Pill uu PetTO'fWui !i!
I'jIjII; Striiea N J 7i
Hfa-p Roebuck 7a 1;2
t llAivtlieftit 7l
What's Needed
Mere Than
Credit Insurance?
The most uu! thmjj today for Mi.nufacrurcrs and
Wholesalers it absolute pratectw. azainst abnormal, un
foreseen credit losses the kind of protection afforded
by the American's Policies of Credit Inmrancr.
Isn't it michty geed business te leek at this matter like
one prominent business man, who says, "While I have
made it a practice te limit my risk, 1 can fare my
principal letbcs te my failure te de se."
Wh uLr ctwacrj rr'th the:e p.-erieus cri-dit vceunti, -lien ;ou
aen't hive te "hfn eti can effuanl them abselutelv taceit
e imali thaf it U litrrallv .-d obrieuslv one of tlic b'H n:n t
xier.tj ou cn pej;jb " male1
Rmembr, it decir't eblisratr .ou one bit te ct Jj,r (u
d fifuifj. Veu hue nothing te le?e and rvryihiti" 1
Will veu jthc or phone uj?
bv invntipttinr;.
Ptrmttnts te PtL-;li3.'n's! s ,.
fM3
e cin
$!0,CeC.QCC.GJ
iic-
till-! 110 4, 1'l
.11 4 ri P1i
in i,i
101
,v
.fi
in;
r.ii
10"
en
10-;
. it u
ifr,
S.1I UV 3
Seuibe-u JJ I 7.i
loin . ei n i ;,
U ft 7 13S5
ten Prcl 7t
1 nlif.l Oil Pred
I - H ill t 71'4 a
T. ' .ii n l lee fa
l mm 7 a a
1 1 Injtii nir 71mJ
l Arse tins 7a
I IVe .Jr ud Ini U
Sw.-jt e!-jj ..
lUSii.
IH
t''
Int .,
li.
li, i.
.llfj
MIJ
ll."
tin
it'
HH'.
I'D',
' V,
i.si
04 i
ll.l V
.
en-s
10.
1IVI',
.
1"1
nil',
I'i-.i,
tu, j
Vhl j
'1'
I n. i.j
ill,
11 v
ilfi'w
in:
in"
inn
1U-
rm ,
I
' . J04 ,
I'fi't V)
Ori m. nil
tnr, ifnin, j,' '
.ter, in.-ti., in-,'!.
ni "J
no .,
I1 'a
fill'.
U'J4
i.i"v
t'-l-j
m
i'ii',
07",
PS
HI
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e i
' JM
I III "1
1 1 II
AgCOWltrCCt
BIG DROP INEXP0RTS
November Aggregate $43,000,000
Belew Previous Menth
W;isIilnrteii. I. .7, Aiu.TJf i
ixjKirts tu llurdi (li-.'iirr.i ?-t::.e,v)(iinii
, in .N'ovembor its rempi ml Miili ' j.(.
Ii-cnlmj mvjtli, fitivrdtiis: te nn efliinl
Hinimarj of f riigp u-i.,e i,Mj te,;,,,
bv i He Itrprtrtinrnt i,f (Wimiik ,.,
purl i f Oir l'ljnp,' tiiiTi.i in tu t'r
nnirt poneil Ji'irnit .".r.tiO.lVKi
t)nH i Sfruu ii.nl (i.vdtiin ?.ui ti r
nnpe-Tf: trnde of th I iiiied ;,,,
Kivn i or in N'oieniliop tliui m Oi'tnlm
thf inoreiiDO In the c.ntn of Ati-lci HpIhc
S"tH()t utiil te IMfuiim V. Inn 00(1
Tlir 'ip.. n.i i Nerili Aui.-rii'nii
eniinirK" iicpriKiiieil S71.tliii.0iVl f,ir
Nmoiuber, iirniii .'7T. JTT.OIKi for (V
1'Iht; in Smtli liirrlrn .,i..'!'.'fl tlOtl
tiKiHn-' M.'i.UT" OfMi; N, .vi in. n,i,
.i.itii.t .'i.iiL't.Odt). DiTiiin- , M0 1 '.t .'
I cm), inin.i ?0.77:i.t'00, rt.i .rr..'i'i
?l.lir IRI'I for Nn e, limp uc ,, lS i .'
KU.OtiO fop Oi'telic-r
Iliiiwirts l'reiu l.i.-err v .-ni srii ljh .
HfiO for Novrnibep, nptilnst (lll,70,00t)
mr tn-imipr; ireni .ertli Amcrlrim
ieuntrifc. Sfli5,2J".OeO. r.pHlni-t ', -."O-'.OOO:
Himrh nuritv, .?L,tl.fi07 000
ngnlti".t S1V.7U.H00 li. 1H,K.'S7imiii
iiciliiRt ?-11.0t7.0llO: ()., ni,i n -.n. '
t'oe. ,i.iiii$ti.a::i,oeoi Airw,' ft'.
i'iiwj mr .iui ciniier, nif.unst 5",S,
(100 for October.
NEW YORK BONDS ON PAGE. ,22
AMERICAN CREDIT-INDEMNITY CO
of NEW YORK E.M. TREAT, pcesideht
tSU. tI,.0AlO UNL1MITUD TOLICICK
W. J. Merphy, Manager
J. F. MacFaddcn, General Agent
1011 CHESTNUT ST.
'hone Filbert 5S03 , Philadelphia, Pa
Interest and principal
M-tb'e in (rw oil,.
Price te yield
S.SSTe
Complete eiuular en icciucjI
for K-4
Harris, Ferbes & Ce
Pin St, Cor. William
NEW YORK
PHILADELPHIA OFFICE
Wittcner Sid;.
Teleplieiie Spruce 7010
Philadelphia Electric Ce.
ll & Rcf. 6s, 9'U
Free of 2 ' c NehimI
i1!k
'I'rt'N I IPi- II) l'c'Ml.l
At rVfqrkpl
Te Vicld Nearly fie,,
KLkiiitf, Alerrii, & Ce.
Land TiUc llldf, I'liil.i
! tw Yn ' . ' r t
DA.-l,r,R.S
Dealers in
Livesbucnt Securities
liertifaiu f, leilv ad Pilait r ,lu
tLetU Vr liui i7J3
3?.l Chestnut St., Pluladelphia
FOR SAIJE
138,500 Shares
MYRIN OIL CO. PAR $1.00
Prl .Mire I iTtiiT iliun'
500 Slmrca
Amcrcan l!&rvcilrr Ce. Par $10)
u.. i r
te ! 'cl-it
I. ..0
MORLKY. WOOD & CO.
I 3:t3 Cli-ntiuU Street
I Mrmlrs N. 1. I'lill.. l0fli rv,, ,
Conservative
Leng-Term
Investments
which still af
ford liberal yield.
llueklvl dcarribinn n
tiilci! lint of altiucliiv
bends ncitt mi rcincf-i.
Bonbright & Company
'137 Clieilnut Street
r i i i
miatirlplitu
Chicago
Detroit
Breker's Office
A fully equipped iui'e of etlices
suitable for s broker iu the
conduct of n stock and bend
business, can be had cit once.
ppty te
Roem 300
1418 S. PesmSq.
Pbilitdelpliift
Sprue 6767 Rac 4838
f.,
BOLESWESTWOOD
INVESTMENT
SECURITIES
LajidTitleBld.. Philadelphia
;.'.'u" L0CUJ147.1
Mi
I Hestctr
Ue utiijciitatint;;.!, ad.ue
uur ftlateiiieiT te fill up
tln-tr iuvcdtmcnt li-ts at
M
c arc ready te help.
II
WlOlKM Bu. PHIlAMMtIA
iVwiWitaacRWrf w
UJIMtTM, K.i
!" mmmimmmmmmmmmmmmd
C. S. PATTON &COT
"U ".Ill's I NTT 1..
BANKERS
u... .f,.J'"iirii In
.AU.l.B A. bTEVKNSON
Vil.i J",f.l?rlj' i""" ""ii sew
"w TBBK urrAAfM m .
I
ivi'
Stockwell, Wilsen & Linvil!
I Certified Public Accountant!
ILand Tttle DIdy., PhilndbWR
I
?
t
'ft