fj( . I nBBHW;i(' ""- iWHl iTrrrn ' '- t- i vr ' r v n f . .j. '.. i. jt i ii ! n a . r w yammv iu j" j i u rr i f :. mra wrw-i -- ,v - r.' i " ' 11' ' -1 M 1 'V- TCT V. ' ' " ", . '" -.. iV f'4, v r , '7 . T fir . ". ...J - . 3 I , . -i T " ' ' , , 'I , , NEW ISSUE' V i5MfU.k iyj;,iBKV , .'I ' ." i m .- y Exempt from all Federal Income Taxes Exempt from all Taxes in Ohie $20,000,000 - State of Ohie 4 Adjusted Compensation Bends r I JM fy . .K Bends for January Investment r- V 5 9,J js- J"! 'rrJH Dated January 1, 1922 Due serially 1923-1932, iricl. r'tn rL '-?MiHDRw,mi.f - trr'j r BOSTON 5i" We own and offer at all times an extensive list of investment bends. The bends men tioned below are selected from our January Investment Circular which contains ever . ISO of about 300 issues which we new have en hand. Our 'unusually wide assort assert tnqnt assures any purchaser of a selection, with our help if desired, .suited te his own particular. requirements. ) Included in our January Circular is a brief discussion of the conditions affecting the bend market, and the considerations we believe investors should have in mind in mak ing investments during 1922. . -r- f United States Government and Municipal Bends Price ami Yielding Rate natality Interest Abeat United State Government Liberty & Victory 3Vz-i3A Varieu Market Federal Land Bank fy Nev. 1, 113823 Market 4.55 Wettcketter Ce., N. Y., Hospital Ref. Tax Ex. in N.Y. 5 Jib. 1,1931-42 ,..-. 429-4.15 NewYerkCity Tax Ex. in N. Y 4 Dec 15, If 71 14 4-27 Waterbary, Conn. Tax Ex. in Conn 5 July 1,1950-72 ... 4J5S Philadelpkia, Pa. Tax Free In Pa v SVi Oct 2, 197141 112.88 ' 4-30 Albany, N. Y., Reg. Tax Ex. in N. Y. , 4Vi Jnae lr 1923-24 ... 429 Jeriey City, N. J. Tax Ex. In N. J 5y2 Sept. 1, 1947-0 .... 4.35 State of Michigan Seldiera' Beaui 5 Oct 15, 1941 114.44 ' 4.40 Cook County, IU., Read s 4V2 AprU 1, 1927-32 , . . 4.70-4.50 Detroit, Mich 5 Dec. 1,1942-45 ... 4-50 Let AxtgtUi City Schebl Diitrict, Cal i 5V2 Net. 1, 1947-58 ,. . 4.60 Akren, Ohie 6 . Nev. 1,1931 110.59 4.S5 Warren, Ohie, Sewer 5 Nev. 1,1932-44 .. 4.70 Miami Cemervancy Diitrict, Ohie 5 Dec. 1,1927-45 ... 5.15-4.85 Briitel, Virtinin y Oct 31,1951 115 5.00 Maricopa County ', (Phoenix), Ariz., Highway 6 Jan. 15, 1931-51 . . . ' 520 Recky Mennt,N. C 6 Nev.15,1922 100.48 , 5.50 High Point, N. C, Bend Antic Nete 6 Dec 10, 1922 t 100.47 5.50 ' Short Term Bends and Notes Merchants Heat & Light Ce. Fint 5 Oct 1, 1922 Market 6.00 LeuUtUIc Gii & Electric Ce. First k Ref. ......,.WI 7 Jane 1,1923 100 . 7.00 MUwaukee Electric Ry. & Light Ce 7 ' May 1, 1923 100 7.00 Dayton Power & Light Ce. Firit & Gen. 7 Mar. 1, 1923 108 7.00 Utica Gas & Electric Ce. ......... tAt., . ...... ...... K.A.M 7 Jier. 1,1924 100 7.00 Railroad Bends Oregon Short Line Ry. Cem. First Guaranteed. ...J.J..... 5 July 1,1948 97s 5.17 Illinois Central R.R. CelL Trust . 4 NeV. 1, 1953 79 5.32 Canada Southern Railway Cens. .... .,... 5 Oct 1,1962 94 5.38 Terminal R.R. Assn. of St Leuis Ref. .,......,,..,. .,......, 4 Jan. 1,1953 79 5.40 Southern Railway First Cens. " 5 Jnly 1, 1994 Market 5.62 Pere Marquette Ry. First 5 July 1,1956 Market 5.70 Chicago, Reck Island & Pacific Ry. Ref. 4 . AprU 1,1934 Market 6.75 Chicago Western Indiana R.R. Cell. Trust..........'.., 7 Sept 1,1935 Market 7.40 Canadian, Foreign Government and Municipal Bends Kingdom of Denmark ... g jai 1 1M2 9450 550 Province of Alberta, Canada ,.... 5 j. 1,1939 99 ssg Province ef Manitoba, Canada -..,........., 6 bet 1,1946 105.33 5.60 Province of Neva Scotia, Canada..... 6 Nev. 1,1936 104 5.60 Province of Saskatchewan, Canada 5 Nev. 15, 1946 98.50 SM . City of Terente, Canada 0 July 1,1941-51 .... 5.62 City of Winnipeg, Canada 6 Oct. 1,1946 104.64 5.65 Province .of New Brunswick, Canada 6 July 1,1931 , 100.72 5 90 City of Westmount (Montreal), Canada 4 May 1, 1928 92.11 6 00 Kingdom of Belgium..... JJ,...JJ..,......A........i.j g . j. 1,1925 Mket y'A9 Leng Term Bends Nebraska Power Ce. Fint Tax Ref. in Pa 5 jUHe 1,1949 go 573 Idaho Power Ce. First.... . , 5 Jan. l', 1947 90 5 76 Alabama Power Ce. First m 5 Mar. 1, 1946 90 577 Texas Power & Light Ce. First 5 jnM 1,1937 92 579 Utah Power & Light Ce. First Lien ft Gen .. 6 Feb. 1, 1944 99 g'93 t Alabama Power Ce. First Mert Lien & Ref. . . . v ..v. . ..., 6 June 1, 1951 99 g07 San Diege Cens. Gas ft Electric Ce. First .,, 6 Mar. 1, 1939 99 g'09 Adirondack Power & Light Ce. Fust & Ref f. . 6 Mar. 1, 1950 98 't K Seattle Lighbng Ce. First ft Ref. , . ." 5 Oct 1, 1949 82 6 39 Teledo Edisen Ce. First Tax Ref. in Pa. ... 7 Sept 1,1941 Market 155 Central Maine Power Ce. Fast ft Gen. , 7 June 1, 1941 104 663 Penn Public Serv. Cerp. First ft Ref. Tax Free in Pa. ... 6 Dec 1,1929 96 6 70 Tl .H? C0' CDV- TaX Fr" ln Pa 71 Jn,y J lf 36 Market 640 Penn Public Serv. Cerp. First ft Ref. Tax Free in Pa... 7 July 1,1935 105 704 B. B. ft R. Knight, Inc, First Tax Ref. in Pa. , Sept 1,1930 99 " f.ig We invite correspondence. A copy of our January Investment Bend Circular will be aent to.invpsterB upon request. Aek for Circular F-lll. Harris, Ferbes & Company Pine Street, Cerner William, New Yerk Wldener Building, Philadelphia Harris, Ferbes A Company IneorpettuS Deiian Harris Trust and Savlnpi Bank Bend Department Cblcig W'luiiuitniiniignimniiuiiniiiiininiitiiiiiiiiiiinnttiiiiniinciiiniiimiiniiiiiiiiniinniininiiiniiiiiiniiiKintinniiiiniuniM 1422' SOUTH PENN SQUARE PHILADELPHIA JANUARY 1st, 1922 WC TAKE PLEASURE IN ANNOUNCING THAT MR. HOWARD R. MOYER, FORMERLY STATE DANK EXAMINER IN PENNSYLVANIA, HAS DECOME ASSO CIATED WITH US IN THE DOND DEPARTMENT OF OUR PHILADELPHIA OFFICE. PAINE, WEBBER & CO. NEW YORK CHICAGO GEO.A.HUHN & SONS fTerK1 .vn nnvni Mrmbrrn, nf the rhllmtrlnhlit. firm Verk and CMrue hlerk Kichenie Nriv Yerk Cotten KxehnnM Commlttlen Order Executed i All th Principal Market Liberty Oenda Oeught and Sold Uel.eue tunrt "'..Um aaiul at. H. v.. Ill Uneitawrajr UlfshenV SSluJ Ku inar npny 8'. 19 Ki-ntucW L.,L,II!'" -i Con.el. . .8 lft I I'hlladelnhli ..ii. S,rn,lnul '" t'e. 8' I PS I rricui I i.W ' x i'err Ce.. 8'a 10,2 !,V, JT ilit!.1 ewr Company s. lu&i NEWBURGER iimiiriiAAu a i( i ncnucnaun ft r Members New Yerk n. Philadelphia Stock Exchang.J iiiL" """.". renrr Ce CT.VKJ2.k1G,'.,., PUtabarih... B'i io&e Jeuth J.JH7 (I.e. feri, & W-t !. J" SAMUEL K. PHIUIPS & CO. Membara Pbllailalphla mock Bxchinc j mi aaaxsiiji hxiuucs Principal and semi-annual interest (April 1st and October 1st) payable at the office of the Treasurer of the State, Columbus, Ohie. Coupon bends In the denomination of $1,000. First coupon payable October 1, 1922. FINANCIAL STATEMENT Assessed valuation of taxable property $10,672,277,462 Total bended debt (this issue only) $20,000,000 '. Population (1920 census) S,7S9,394 ' Total bended debt less than 1-5 of 1 A Legal Investment for Savings Banks and Trust Funds in Ohie, New Yerk, Massachusetts, Connecticut, New Jersey and elsewhere These bends are part of a total issue of $25,000,000, authorized by an amendment te the constitution of the State, ratified by an overwhelming majority of the people. They constitute a direct obligation of the State. The amendment requires the Commissioners of the Sinking Fund te levy a tax sufficient in amount for the retirement of the bends and payment of the interest thereon. It further recites that said bends and interest as income are exempt from all taxes levied by the State of Ohie or any taxing division thereof. These are the only bends issued by the State of Ohie in mere than fifty years and censtitue the only debt of the State. Under the State Constitution all bends of the political subdivisions of the State issued subse quent te January 1st, 1913, are taxable. It is estimated that this offering of $20,000,000 will be sufficient te meet all the requirements of the Amendment, in which event there can be no mere tax-free bends issued by the State except by Constitutional Amendment. AMOUNTS, MATURITIES, PRICES AND YIELDS $1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 April Oct. AprU Oct April Oct. April Oct. April Oct 1st, 1923, 1st, 1923, 1st, 1924, lat, 1924, 1st, 1925, 1st, 1925, 1st, 1926, 1st, 1926, 1st, 1927, 1st, 1927, 100.421, 100.583, 100.848, 101.026, 101.351, 101.543, 101.925, 1Q2.129, 102.566, 102.783, yield 4.40 r, yield 4.40 ' yield 4.35' yield 4.35', yield 4.30 yield 4.30 ' yield 4.25'. yield 4.25', yield 4.20 rt yield 4.20 'c $1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 April Oct April Oct. April Oct. April Oct. April Oct. 1st, 1928, 1st, 1928, 1st, 1929, 1st, 1929, 1st, 1930, 1st, 1930, 1st, 1931, 1st, 1931, 1st, 1932, 1st, 1932, 103.273, 103.500, 104.040, 104.277, 104.867, 105.114, 105.750, 106.005, 106.255, 106.500, yield yield yield yield yield yield yield yield yield yield 4.15 4.15 4.10 4.10 4.05 4.05 4.00 4.00 4.00 4.00 Accrued interest te be oew se above pricea. Legality approved by. Hen. Jehn G. Price, Attorney General of the State of Ohie, and Messrs. Squire, Sanders & Dcmpsey, Cleveland, Ohie First National Bank New Yerk Stacy & Braun - Brown Brethers & Ce. . New Yerk Philadelphia Lee, Higginson & Ce. Blair & Ce., Inc. Philadelphia . Phi'adelphia Cleveland Tmst Ce. Richards, Parish & Lamson Cleveland Cleveland Illinois Trust & Savings Bank Merchants Lean & Trust Ce. Chicago Chicago All statements atee are baaea upon InfermaMcn -vhlch r recarJ as reliable and are correct te the hit r,f our JnewleJife and tellcf Maw lasua $7,725,000 CITY OF CHICAGO Illinois 5 GOLD GENERAL CORPORATE BONDS Due serially as shown below Dated July 1, 1921 0 Principal and semi-annual interest, January 1st and July 1st, payable in geld at the office of the City Treasurer in Chicago. Bends issued in coupon form with privilege of registration n tn nnnnnal n.nnmmtiin CI ftnn EXEMPT FROM ALL FEDERAL INCOME TAXES Eligible te socure Postal Savings Deposits Legal investment for Savings Banks and Trust Funds In New Yerk, Massachusetts, Connecticut and ether States CHICAGO if the second largest city, with the second smallest per capita debt, of the ten largest cities in the United States. THESE BONDS WERE AUTHORIZED BY A MAJORITY VOTE OF THE QUALIFIED ELECTORS AND CONSTITUTE A DIRECT GENERAL OBLIGATION OF THE ENTIRE CITY OF CHICAGO PAY ABLE FROM UNLIMITED TAXES LEVIED UPON ALL OF THE TAXABLE PROPERTY THEREIN. Legality and regularity of the issue have been approved by MESSRS. CHAPMAN. CUTLER & PARKER, Chicago. CHESTER B. MASSLICH. ESQ, New Yerk City and MESSRS. STOREY, THORNDIKE, PALMER & DODGE, Bosten. YIELDING ABOUT 4 50e $ 75,000 due January 1, 1923 MATURITIES AND PRICES (Accrued interest te be added; 450.000 450,000 450,000 450,000 450,000 450,000 450,000 1. 1, 1. 1, X. 1. 1. 1924 1925 1926 1927 192S 1929 1930 100 50 101.00 101.375 101.875 102.25 102.625 103 00 103.375 YIELDING ABOUT 4.40 $450,000 due January 1, 1931 104.375 450.000 " " i, 1932 " 104,875 450,000 " " i, 1933 l05i2s 450,000 " " 1, 1934 105iS0 450.000 " " 1, 1935 i05.875 450,000 " - i, 1936 i06.25 450,000 " " i, 1937 i06 50 50,000 " 1, i918 i06 875 450,000 " " i, 1&J9 " i07 ,2S 450,000 " i 1940 " 107.375 Chicago R- M. GRANT & CO. 31 Nassau St., New Yerk Bosten Tk, iteUrnent, herein uere obtained horn official report, or are our opinion, based upon Informs Ue which u rrrard a, reliable, and u,l,ue they are net guaranteed. , beluve themTblcZZ. St. Leuis 1 i (i si i ri : m J i i i V M I n 41 I ' in aWHHunuinuwuiiBjaitiuiiiuiit3HHwHii muiimmmmmmnKmamumuwuwamammmni. 1410 Chestnut. St, ) ft l 14 . r me f I !
Significant historical Pennsylvania newspapers