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EVENING PUBLIC ' LEDGER PHILADELPHIA, WEDNESDAY, DECEMBER 28, 1921.
Hd ' " SEXTET
iraaLJLlLaPlJ KPi -bt! UiyWr aaaiaHHaVaT t r m i I
U,
De Yeu Stand Ready
Te bear the consequences of your
mistakes? Yes!
However, should you fail te clearly
set forth your wishes and name a
competent Executer and Trustee in
your will, the burden of resultant
complications and probable losses
will net fall upon you, but upon
these whom you wish te protect.
Commercial Trust
Company
Member of Federal Reserve System
CITY HALL SQUARE
SUPPLY OF CURB
STOCKS IS LIGHT
Ceal I3SU03 Streng Oils Held
Fairly Well Meters Active
and Irregular
New Yerk. Dc. 28. The market an
the curb today showed pronounced Im
provement, many 6tecks being in de
mand nnd with little supply In sight
nt nreund recently prevailing prices.
Tlie coal stocks were strong, Burns
Brethers moving up Vs, te 33, and
Farrell Ceal showing a fractional gain.
Olfn Alden flenl. liQwevcr, was In med-
-... .,.,niv Collin?, during the first
half of the day, at 429i.
Moter stocks wcre ncUve nnu irregu
lar. Durant Meters was steadily held
nt. Vk ndvnncc. Thcre was trading In
rinAintriBi nf OQi nnd Cleveland Aute
at ill te 21i. I-.WC01U
Financial Briefs
American Ic for yar fidd OoteStr 01.
hews nat ineome after ehr nnd FtderM
taxm tS.nsT.012. emint. after Drefcrred dlvl-
dendi. te J10.O n har en $7,000,000 com
mon Bterk, araliut $1,708,008, or I11.45. pre-
vieus yrar,
of the American Itallwar AaaecliUlen
fhewrd that 081.837 frelrtht cam wr Idle
tecaurs or bualncaa cendltl
wr id, an increaie or ai.
wk
The ar-rara prlee of tha twenty aetlv In
duitrlal ateckd advanced. 1.08 per cnt ywit-r-day
te 80.00, whtle the twenty railroads de
clined ,01 cer cent te 73.71.
The Finance Committee of the TJnIUd
(Uatta Steel Corporation 1 errerina- 100,000
aharei of common stock te emplerrx at 184
a ah&re for subscription durlns the month
of January, 1932.
one en Decern-
089 can within n
Diirtnir Kevemher. Columbia Qn. and
JJlectrle Cempnny had aubntantlal irain In
leth btesh and net ever November jt laet
year, the mentn reaumna; in sain in -urpiu
account of 14.32 par cent.
The New Yerk Stock Kzehenne announced
bills attached,
The Chicago, IndlnrnpelU and T,oelvll!e
In ft ter cnl hnfuln. men,v derived fl
the eale.te be lined In pailnr oft If.deblenneaa
le me war i-inance corporation
reule.RAn !anr.1itcn reed wm ai!
leaue 32.122.000 in bend te , relmUirm
from
Our Philadelphia Banking Representative
Is The Pennsylvania Company
When you refer
Company as. your
te the Pennsylvania
representative, business
men acquainted with financial backgrounds
need no further explanation.
Our connections are interwoven-with the
warp and woof of Philadelphia, the third
largest city in the United States and the
eldest financial center of America. Our
growth has contributed te and partaken of
its safe conservativeness and prudent
development.
EVERY TRUST COMPANY AND BANKING SERVICE
The Pennsylvania Company
Fer Insurances en ilivcs and Granting Annuities
Trust and Safe Deposit Company
Chestnut and Juniper Street
Chartered
18 12
517 Chestnut Street
Philadelphia
FOR SALE 138,500 SHARES
MYR1N0ILC0. PAR $1.00
(Drhiwure Corpurntleu)
500 Sheres
American Harvester Ce. Par S100
The above will be aeld for cash te lit'cheat
i',y.er atr ""Ice en 1'rldar. Dec. 81).
nil, ut 3 I'. U,
MORLEY, WOOD & CO.
333 Cheitnut Slreet
Members N. V. A I'lillii. HleiU Kuh'a.
De you need money
The
First National Bank
of Bosten
Capital, Surplus and Profits
$37,500,000
Wc will supply money te Corporations for expan
sion purposes providing a satisfactory record of
past earnings can be shown. Ne schemes or pro pre pro
metio'nswill be considered. Fer oppeintmentwrite
F A. Travis & Bre.
Don't K
New Yolk
HO Hreiuhvay
heavy, Qoedycar Tire
Meters was
win in meu-
ri".nnlr nnd Feld at 25'j. United
ltetall Cumlv moved up te 0 and sweets
Company Feld at 3 te ah ,,
Petroleum Bteclts wcre fairly wen
held and some of theso Ibsum made
substantial gains. Standard Oil af In
diana en heavy tradlnu advanced
than 1 point. Imperial Oil of Canwln
wan In inoderate supply nnd yielded
mero than 2 points. .f,.
The heaviest tradlnp In the petro
leum croup early was In BIbum I ctie.
leum. which rose mero than 2 Points,
te 13. a new high for the .year.
r.-!. nil enifi eir n smuu iiiu
and Skclly Oil sold at rVi
Tidal Qsape was steady as
Creek Producers.
lMC8TniAlJ
and Di
was Salt
Acme Ceal
Acme 1'nrklnir
AJkx Uubbr rlents
Allied raeklmt (,;
Anucentla Copper rlcnli.
IlraJlfy nrproef
13rlt Amtr Tet ceut ....
Rurne Ures .11 ....
Cullfernta CruaheU Trult
Chnlmira ctf i
Clovelnnd Aute
Celumliln KinernU
Durant Jtotera
KArrell Ceal
Olbiien llowell
aien Allien Ceal
oeoiijear me vie.
nilh
. li
.
. :
. TO
. 12U
. a:i
: ?8
. Til
. 2.',U
. "JO
!i
Orant Moter J
Havnnft Teu
Harden Ch.'in .......
t,!!A:elti Meters A ...
D A 11 a pref
National lalhr
North Amtr 1'apcr ..
Pcrft-ctlen 'l'lre
Rail'e Cem
i:aain com nrci
n
1
I'm
no,
4
HI
TO
rj'i
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Ui
21
20
ik
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avi
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It J Ileyreld (new) "1
Sweetn Ce
Teb l'red litD
T. i,l ft Shin
U H Dlilrlbutlr.ff
U H Steam
'United iTelir HnarmB .... j
TTnltAil lln, rnnrlV il
I Wayne Ceal 3 ft
KTANDARD OILS
i Ancle-Ame r Oil 18
Atlintle lobet 0
Imperial Oil Can IP?
lluckeye V ii pj;?
duua Oil et InU f J-
INDIH'KNDiaT OILS
Allen Oil CC C
Aiiu.l rill 1!
Arkan.i Nat Oa lla
Ilonten Wyemlne TU
llrnxea Oil 1 .
Carlb Syna -ll
Cities HertC9 (old 203
Cities Servlee '"B" ctfs. . . V2i
Cunhliw i'et tl
lSlk Ilaaln I'et 0.
Knclneers 1'otrel H
IV.lcral Oil li
Olll'Uni Oil 4',j
an
a
4'i
et
ia-i
14
3.J.J
I ft
1SH
c.ienrncic uu J jr
(IranaJ.i i
IirrperHl Oil .l'5
Int IVtrel ITU
Lyens ivt U2
Muema Oil l't
Maracatbe OI! 22j
Merrltt en U
MerMan Ter 12
Klrley l'et IS
Marine Oil 1
Mexico I'nn l'
Mxlee 01 .1U
Mountain I'reducts ID
Kebl- 1 (1
1'iire pref UH't
llyan , Conn f.i
Salt Crae'c l'red 1.1
Sapulpa Itet .14
fiimmn I'et l.'i'i
Khtlly Oil .'.'.
T-xen T4
Woodburn TO
Y Oil Ill
Southern V & It ft
Tidal Orate 13
MINING
Alvardo 7'.
Iloaten b Mei.'Una 01
Conn Arizona 4
Copper Canyon 1
Corte.i Silver ST
151 Salvader 1
Kureka Creeiuu 211
llarnill Dv- 1:1
MarNamara II
I Masma Upppcr 2d
Jlaneu Valley 1".
Mether Ledn Clt 'I
I Mohican (.'upper 4T.
National Tin Kl
i Nevadt Oehlr 4ti
Nbvt Cernelia 1SH
Nlplnalrifr aVt
Ohie Copper 11
Plttu Mt Hhaeta 2d
He Am 1' it d n,
Succi-hH Mlnlnc "
Tonopah Dlvlde 1 J,
uniiy uniu
United IJuHlern ..
JIONDS
Allied racier C,i B0
Aluminum f.i. 1031 102S
Amer Tel C.j, 1 1122 1U0
Amr Trl tin, l'J24 fMH;
itiucunuft tq nil '.
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OH
b
Railroad was autherised today by tne intir
matn Cemmerea Cemmlislnn tn lru $3,408,-
oeo m.e per cent bemiR, money derive
Thu Kl.
I-"ranctiree rend wai authorized te
12.000 In bend te relmUirM Itn
own treaaury for expendlturej eir' bolter belter
raenta alone Iti llnea.
Director of Ontario and 'U'ettern at tin
regular monthly meetlr.c appreed purchaae
of About 1300,000 new equipment te b de
livered pen Hpnnir. .e new nnancins win
b InveUtd. an the cempar.v has auretctent
cash en hand te cover the purchaie,
report of Neir Terlc Nw JIavtn and
Ifartferfl rtallread for Beptemlxr 89 ertT
(lied with Iublle Borrlce Commlalen of Nw
Yeric. ahewa deflelt aftr charKea of 11.000.
708, aralnat dertclt of 1888,191 for the name
period of 1820.
TCnnrett November Droductlen totaled
4, OH, 000 pounds of copper.
h J!
; Un
tout Unltd Clar Bterea common and rrf'
ferred a tee It", the boekn et which cloae
today for rlKhta. muit thereafter have due
' MONEY-LENDING RATES
NKW VORK Meney en call, betli elaate;
of collateral, opened today at 0 per cent
for lending ami renewing.
miXAWKLrillA Call, r,M On rr rents
tlma. 0 0 per cent:, commercial taper.
three te six mentha, 0 00 pr cent.
Cel. Mlxter Leaves Plerce-Arrew Ce.
nnffnle, N. y Dee. 28. Colonel Harare
V?, Mlxter haa rialened aa president of the
I'lerce-Arrew Moter Car Company, He will
b aucceeded by Vice Preeldent II. R. Kerb
b iif .riitlve officer under the chair
man of the beard of director. Co'.euo!
Charlea Cliften.
BOND TRADER WANTED
Conservative bend house has attractive opening
for experienced man. Must have thorough knowl
edge of markets. Replies confidential. State
education, experience, religion and salary desired
Address Bex A 104, Ledger Office
fjaaancimgms
co';
102
10(1
en i
no
102
me
en;!
An.icenda T. 1021) 1. oil 100 100
Anarlu-Arner Oil Tli . . . .liii't ln.,,i 102
Armour T lOl'-S 101. 101 't
n.uh h.e i :-, ln-js iui)ii loon leuu
C'uti l'aclfie Li fm'i
ei urapn r .'ii
Cen Copper "h -Ill
Cens U.is Th 100';
Copper i:pe-t 8i. u"H. .1II0U
Cepiwr Kpe-t Hs. I!i2l..in.
Copper Kpert hs. llc'e. ,in.1;
Cuban Te! T".a 10Jj
Deere & Ce T'jh OH
iJulen.1 (1t Ta JOO
U(l !)!)'
.17 i BS
411 40
1O0U 10O.
ll'O'J 100TJ
ii'.i liu
10 1 1
102H
.102.
. mi";
. Tl
n
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. enr.
. ei'I
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OH
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Humble 7
I lturber J He
LiiUild Obi Th
Mlib .MpNMII Th
N V X H II H
i Oregon H 1. Ca
I'hii.i i ii m
I'hlia no i)
Public Kcrvl NJ ;i,
Sr.ir-Ite.bui k 7t. 1!C2. .
S..ura-lliiebu k Tn, XVili.
ShavfKlieen Ta
Hciiilhv.riit Hell Th
Ntittiil Oil N V Ta 1930.
Htand Oil K Y 0ia
Swift T.i 100
Kwlft Ta, 1031 lniu
Sun Oil Te fista
Tel lldlseii 1 104
Vacuum I'll Ta I0il
Vunier HiiKar Ta UilVi
WpHlern Klec Tl 10HV. Hiss
Wllaen V-'sH Oil nil
Wlrchi'Blfr7tan 100 n
.vrrnnu'i" ta lit". n
IHl
114'i
1001.
0T',
III)
103
innu
ine'i
102V1
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100
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102
ne'i
71
HT
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00.
H4,
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npi
en
ie
ioe
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r.'u h
CS
107W 107
lO.'.S lOflfi
100 100
101y 1014
'84 llW
104 101
10fl?l leflt,
:;, -L'T
fill
11 75,
HI
DC
U. S. Certificates and Treasury Notes
I Trit. Maturing
Hid
.100 11-32
.100 .'.-32
.lOOil-lil
. lfiO 3.10
.100
.100
.ten 0-10
100
10O
r:
itiate. Date
" MftVj TVb . ltiaj.
i ti ..c.i..
f'.-'i Jleh .
fell..
pr ,
une.
t'ft'i Juiih,
r.v. Auif..
t4S Hept ,
t'ft'I Kevt ,
tI"'i Dr.- ,
t'ft'i .Tun",
"0' sept
I 'Hi ap
1H22
1022
1022.
1012
1022.
1022
1H22.
ll2
Al:ed Yield
100' j n Bft
100 8 75
10OO-.1S H.Tft
100 T-lll 3.70
100 1-ld 8.0ft
100 8-02 4.05
lOOtl-ld 4.00
100U 1,17
100 fi-32 4.8ft
100 11-10 4.20
100'i I.Sft
i-"-j 4.(17
1(122 . lllll ll-lll
ld22 ..100
11124 .. 101 1ft. II 10L' 1.1(1 Jtnr
.1v.m... .v.i. .r....l ....... .1 1 . ,'.U
- ,1- tn... ..un. K.M.iiH, .'i-u.-c.i inutiilie lax,
Ai.t't'Jtable for ruj-mjnt of Irnunu tax due
ei d.t" of maturity.
Recerve Banks' Discount Rates
CHIcIa! redlaoeunt jatca u the twehe lid.
.141 ikcncne v.,n n.t7 as tuiiuvssi
' rtnxtbll
I New Yerk
l'hllsdelphl
una
Conservative Jnveslments
MacMcckin & Williamson
miiiAll ANIl HANSOM hTH.
Member I'lilla. itevk ICxclumse
BONDS
Blodget & Ce.
Real bilate Trust Bldg., Pbila.
'I'rrua. Mb.
ctre, beivle
. 4i? -td
. 4'i l'i
l Iet)Ull(l ft r.
Ulchrnend r, r,
Atlanta ft ft
,l lilcann ft ft
St. lAiul ft ft
Mlnneapell ft'i r.'i
Kun4a C'lv .... ft ft
liall.a fti, ftVi
fan l'rn.nctce , ft 5
Cem'l flkra.
pair accept.
ft
r.
r.
ft
ft'i
r,
'
&
r.
ft
S4
NEW YORKiQONDS ON PAGE 20
Ii
Kresge Earning Power
Earnings Applicable te Kresge Common
Percentage Percental
Profit Profit en Common en Common
Tear Before War Txe Alter War Tiki Before War Taxea After War Taxet
1912 $ 529,179 Ne War Taxes 5.29 NeWarTaxe
1913 729,686 " 7.29 "
1914 1,010,497 " 10.10
1915 1,153,219 " 11.53 "
1916 2,032,348 $1,989,348 202 19.89
1917 2,220,988 1,720,988 22.21 17.21
1918 2,810,999 1,560,999 28.11 15.61
1919 3,365,201 2,140,201 33.65 21.40
1920 3,538,506 2,613,506 35.38 26.13
Fully 80 per cent, of the money necessary te finance the growth of this busi
ness has been supplied through reinvested earnings.
And yet, as a result of the Company's remarkable earning power, investors
who held .Kresge Common at the close of business December 30th, 1921,
will receive a Stock Dividend of 54.
Ask your own Breker about A"rc Common te-day, or write
Geerge H. Burr & Company
Bosten
121 Chestnut Street, Philadelphia
Chicago New Yerk San Francisce St,
Portland, Ore. Les Angeles Hartferd Seattle
l.euu
While net guaranteed, the iniornutien contained in the. advertisement has been Ui.cu irem sources
we believe te be reliable.
Market Factors
and
Trade Factors
What is likely te be
their influence en' the
price trend of securities
during 1922?
The probable course of
the bend and stock
markets ever the com
ing year is clearly
outlined in our Special
Analysis.
Ask for copy of Bulle
tin P L-84.
CuflRLES-UCWRKSONfills
66 BROADWAY NEWY0KK
TEUBOWLTHG GREtM 4020-28
BnttSttsnsKiiirsnirsatBr.ttrrca::::
THE
INTERNAL
BONDS
OF
EUROPE
Call,
tUthnm r
tarilt for m
fr0 cpy of
ear bekttt
F-516
DUE te the eriiring
level of ferelen ex
change quotations, the
Government, Munici
pal and Industrial
bends of European na
tions arc today telllnf
at prices that should re
sult In attractive profits
when conditions be bo be
ceme normal.
"Foreign
Investment for
Americans"
Is the dele of a new
booklet which discussed
the mere popular of the
European bend Issues
and suggests hew te
take advantage of pre
vailing exchange rates
through the purchase
of these securities.
Wm. H. McKenna &. Ce.
221 S. 15th St.
PHILADELPHIA, PA.
Chlcar
FitttburmU
New Yerk
Paterten
Breker's Office
A fully equipped multe of offices
sultable for & broker in the
conduct of a stock and bend
butinRsi, can be had at once with
lease. Apply te
Roem 300
1418 S. Penn Sq.
Philadelphia
Spruce 6767 Race 4838
New Issue
.Exempt from all Federal Income Taxes
$7,000,000
State of California
Geld 5 Highway Bends
Dated November 3rd, 1921
Due Serially July 3rd, 1943-49
Coupon bends of $1,(100 denominations, exchanp.abk ler i jlly teijutered bends. Principal jnd semi-annual interest, January
3 and July 3, payable in geld nt th; office of the State Treasurer or at the State's Fiscal Acency In New YerV City.
Legal investments for Savings Banks and Trust Funds in New
Yerk, Massachusetts, Connecticut and ether Eastern States.
The State of California, with a population of 3,426,536. according te the 1920 census, has
an Assessed Valuation of $4,555,445,447, and a total Bended Debt, with this issue
included, of $74,980,000, or about 1 of Assessed Valuation.
These bends, issued for construction of highways, are direct
State of California.
general obligations of the
MATURITIES
$1,000,000 due each year July 3rd, 1943 te July 3rd, 1949 inclusive
Prices te yield 4.30
First National Bank
New Yerk
Kissel, Kinnicutt & Ce. Clark, Dedge & Ce. Stacy & Braun
Eldredge & Ce. Redmond & Ce. Remick, Hedges & Ce.
Kountze Bres. Salomen Bres. & Hutzler Blodget & Ce.
i.
mi