) xi, jAi "l , '?;sv;'i m N !: l r - t One Year Age Today We Published the following in the principal cities from Bosten te San Francisce, 4. vmimmtemm$m$. h United States Government Bends NOTHING IS SAFER. In the case of penens with income mbjecl te hetty lurtw, nothing is mere ttractife, ceiwidering sifety and yield, thin the tax exempt uine. They MAY temporarily sell lower, but are NOW VERY CHEAP. They will eyeetually sell at much higher prices. They yield from 4 per cent te 7 per cent We make a apeclalty ( theae Benda. We keep a supply en hand for immediate delirery. We shall be glad te explain the merits of the different issues upon application. Frem ISM through 1918 the world, from a financial point of view, SPENT its staving and "WASTED" iU labor. During and after the war there was great INFLATION and undue extrava gance. The relatiene between the na tions were broken and have net yet been readjusted. In this country there was an orgy of waste and extravagance. The inevitable results have followed. Price bubbles have burst. Such com modities as sugar, coffee, rubber, cop per, cotton and wool have shrunk mere than one-half. Borrowers have been forced te sell. "Rich" people te protect their business have had te sell their securities. Prices of securities have shrunk from 25 te 50. BUT most of the inflation is "out." The nations of the world will undoubt edly, before many months, readjust their relations. Necessity is compelling economy instead of extravagance. Ex pansion has ceased. The time te buy is when ether people must sell, for then the buyer best serves himself and the community. Owing te "Forced Liquidation" Gov ernment bends, municipal bends and ether sound securities are selling at below normal values) and we believe that, Fer SMALL or LARGE INVESTORS WHO HAVE SAVED CASH, "THE BARGAIN COUNTER" FOR SECURITIES IS NOW OPEN There are three KINDS of CORPORATIONS whose Bends and Stocks are especially attractive: The Corporation which has net unduly expanded during these last years and which has NO FLOATING DEBT. A prominent one is the UNITED STATES STEEL CORPORATION flaring 91.000 Common stockholders The Corporation whee long history shows that its EARNINGS are net ew.y SUFFICIENT, but CON STANT, through periods of depression or activity. A conspicuous example is the AMERICAN TELEPHONE & TELEGRAPH Having 138,000 stockholders CO. The Railroad Company which, through its NA TURAL ADVANTAGES and its GOOD MANAGE MENT, has maintained geed earnings and freedom from floating debt. An instance is the UNION PACIFIC RAILROAD CO. Hiring 34,000 Common stockholder Ihere are many ether properties which belong in some one of these three classes; we shall be glad te give information concerning them Kidder, Peabody & Ce Founded in 1865 January S, 1921 These expectations of ours have been, during the past year, in full. Complete prosperity for the whole country will come only when Railroad and Taxation Matters have been rightly settled b We leek forward te the coming year with hope and confidence that, en the whole, better things are in store. We base our hope and confidence upon two clear facts: FIRST: The World has shown its unwillingness te be coerced by any nation. Our people will net permit coercing by any group. SECOND: . Our people are mere and mere inclined toward meeting disagreements of all kinds by efforts for mutual understanding. The result of these two facts can be only beneficial. They create a FRAME OF MIND which should gradually beget confidence, a "Geed Will" asset for the general situation. There should fellow less quarrelling, mere steady work, mere money tared, mere courage by investors, mere business, mere general prosperity, FIRST HERE and then the world ever. While extreme low prices have passed, the opportunity still exists for the careful investment of money in sound securities in the Kinds of Securities which we recommended one year age today We shall be glad te advise such securities, upon your application, and te buy them for you Kidder, Peabody & Ce. 115 Devenshire Street, BOSTON 216 Berkeley St., BOSTON Founded in 1865 BRANCH OFFICES 18 Bread Street, NEW YORK 45 East 42nd St., NEW YORK f Correspondents for Forty Years of Baring Brethers & Ce., Ltd., Londen Thes A BiddSe & Ce. 424 Chestnut street are our correspondents in this city ?? i J i:- h !l . ' T3 M A M j f J A l jd i, l . k &a. I i. if-i t iiv, , yv. X vr-.ji -y - . ,,, ,1$v. 4gfcasW. Xkk K-i'vi .uiEafcn..iirf L.- "r4lJJ
Significant historical Pennsylvania newspapers