-- $-"4 J .'
P,.VT
-IUV
-
WYlWf r V
kA
:, Government of
BRAZIL (all issues)
Ci7 of
LIMA, PERU, 5s, 1911
r
' State of
QUEENSLAND
4s & 4 Vis
BRITISH GOV'T
War Lean 4s & s
fe
GRAND TRUNK
PACIFIC
Os & -Is of 1962
Is of 1955
CASSEL, NUNES & CO.
Unnbcrs .V. V. Sfecfc V.xchanet
60 Broadway New Yerk
Telephone lJoivline Green 5963
WE RECOMMEND as
geed profitable in
vestments the secured 6
bends of a prosperous
Seuth American State.
The sinking fund which
retires 10 per cent of the
bends each year has
Already drawn about half
the issue at par and the
prospects' of bends now new
outstanding being called
are greatly improved.
t prevent pner 'hczr hetidn
ticcZ T.iOc if held te mat'irity
in 191t.
HARPER &TURNER
Investment Bankers
lltmbcrs of Philadelphia Stock Exchange
Stock Exchange Building
Bernton Philadelphia rm.i.p
Spruce 8200
BOUGHT SOLD QUOTED
I United States
Government
Securities
EEcenmxs defabtmxnt
Commercial Trust
Company
HemW Fdral nncrr n-Ura
City Hall Square Wait
We own and offer
Joint Stock Land
Bank
5 bend
1 rrr of ull tain txet pt In
Iirrltiince tnrs nt 100 nnd
ntermt.
Wibinir Buc, Philadelphia
2 SJtuVcrAStecJxtt
NIWYDM WMm. M.J.
THITwTk
h
Of Inestimable Value
Trade Facts
Dividend Recerd
Market Sponsorship
All of vital Importance In the
consideration of Helding or Pur
chasing !;-e, urltles.
Vt'e have fur distribution a
Comprehensive Circular ',roip ',reip
lng and setting forth Figures
and Comments which every In In
veseor ir Trader should possess.
It will be furnished free upon
request Aalt for
Securities Rating Bulletin
FRANK F. BELL & CO.
1410-18 S. Penn Sn..
Philadelphia
K
Established ISD)
Mi"inbrn
'.da- Yeiiv Sie, it Ex. Kai.Bt.
riu aileVUtn. Pt"' It hx hmii,
C'lil. ,-iee ili.n-U of Traeln
Phenes' Spruce Si'iO Ha.e ;,.
Investment
Suggestions
for
1922
Bis
HYifc for Circular
Ne. L-'
.
'A. B. Leach & Ce., Inc.
Investment Securities
115 Seuth Fourth St.
'.1ST
TURNED W
EAK
SV"
100
lOi)
(100
500
700
1000
400
Ml.
100
001
100
100
no
400
4 no
.130
201)9
tee
100
.100
300
100
900
100
500
100
son
0000
1700
.00
T.ian
tee
10
500
moo
100
100
3100
40(1
3IJ.00
A00
3200
tee
4100
1000
.100
300
700
100
3100
;en
tee
300
filOO
200
700
1000
500
AOI)
400
5000
10
700
514
101)
loneo
tee
1600
300
100
C500
100
son
500
liOQ
500
300
500
.1700
300
500
400
700
300
3400
300
203
700
100
COO
(son
soe
3U0
coo
1000
000
300
1500
1900
2000
2700
401)
300
1200
100
Recurrent Liquidation for West
ern Account Undermined
Whole Market
Neu Yerk, .Inn. 5. Tlie lilnlily Ir
I regulnr and rntlirr conflicting movement
of leilny'x Meck market rcile.-teil the
1 nflcr elfect"! of the Chicago banking '
situation and the recent sus-penslen of
the prominent wire house. There were ,
many indications of renewed liquidation
for the ne-cnUed Western account ns
n rewilt of contraction of leans in con-ni-.-rlen
with the hanking developments
of flip Windy City. There "vni also
evidence of further "piling for the ac
count of the linn which failed liiht week.
The alternate rallies nnd reactions dur
ing the .pxsien likewise retlected fur
ther divergence of crieculative senti
ment and the preponderant profpsslennl
aliber of the trading. Waring the
morning the general li.t put up fairly
strong resistance, but after midday
there was u slipping back all along the
line.
At the mitsct the market was con
fronted with the unpleasant new of
the pnv-ing of the (leneral Meters divi
dend. While this notion hud been very
getmrally cuieeted and while the deci
sion of the beard was uccempunied by
an illuminating explanation of the
eempnnj's position, the incident never
theless wns disturlung from n senti
mental viewpoint, but as a direct mar
ket factor nit little U
In its general chnrnctcr the market
strongly suggested something of an ad
verse nature was overhanging. Just
what this fear comprised it would lie
dlfliciilt te determine, although there
lime been inCmnflenrt the lust few dayn
nt the recent suspended wire house,
troubles Involving ether interest'-.
Whether there wu.s any real ground for
apprehension en that score it would
b" impeMibln te mi, ;.t in maiij
maneuvers witnessed during the ses
sion it looked very much as if some- i
thing net altogether pleasant was being
dodged.
Apart from the General Moter div
idend Incident, there was little news te
Influence the mnrket much cither way.
After the erratic gyration" of jester- '
day nnd Monday, both the grain and
cotton mnrkets experienced similar dif
ficulty in finding n stable level as the
stock market. Quotations for the mere
important foreign exchanges were
lower German marks showing cpeelnl
weakness. .
The market, hewevpr, hnd one strong'
supporting Inlluence in the continued ,
ensment of the money conditions. The
nil renewal rate was fixed at 5 per
cent, but dropped almost immediately
te I per cent. This prompted some !
Mvering or, tne snorts interest, wnicn,
'uwd upon the borrowing demand nftcr
the close yesterday. Is again greatly ex
tended. The buying power otherwise
was found te be scant. Heperts, how
ever, that progress wns being made in
tne proposed merger of the independent
steel companies wera nccempnnled by I
gains of 1 te li'i points In that group,
notably Lackawanna, Vanadium. Re
public and Gulf States Steel.
After the enrly Irregularity the sugar ,
stocks were taken up again under the '
lend of American Sugar Refining, I
which moved nbeve CO. The equip
ments, metals, tobacco and utility Issues
also rose 1 te 15 points. Kails followed I
their recent apathetic course, although
the cealers and grangers developed a
firmer tone.
The oils turned heavy around mlddnv !
with .Mexican Petroleum. General As
i dialt nnd Stnndard Oil of New Jersey I .1""
and California bearing the brunt of! ?;
tin Felling movement showing lees of "
te nlmet ii points. Tlie leaetlen
500
irrent quickly spretid te ether quar-ri-'s
of the industrial division, which
1'iiirter nppeared te be still vulnerable.
L.icklng support except nt marked
"in ssIeur. furtlicr severe losses wer.-,
ist lined throughout the industrial list
luring the last hour. Oils, meters and
equipments were particularly weak and1
indicated rather wide peel liquidation
and the uncovering of uumcreus '
"steps.' The market closed weak nt
the bottom prices of the day.
4000
400
3000
100
1009
100
4100
100
000
13110
300
9700
9700
5000
10U
0400
.1000
5000
500(1
100
l.VIS
uOt)
100
100
son
5U0
1700
1000
tee
7200
800
100
300
1400
100
100
21000
1100
hee
67000
100
000
700
100
1011
330
300
100
3300
100
1700
10110
1.100
4100
5000
100
HUO
700
503
1011
100
100
400
Oil
:i70(i
Commodity Markets
GRAIN MARKET '
Chicago. Jan. .. A featuie in the
wheat market today was the limited
bu.ving power. The market started easy,
us the result of moderate commission
nftVrlngs. A few minutes later a lew
local operntors, who stampeded shorn
into covering yesterday, bought heavily
and forced another rally. This buying'
I wan Induced by the request for offers!
M
Ill of l-.0MK)n bushels Ne. 1 Northern,
line .se. - .vuiuiT uurum xer seeq ler
llussin.
Milling demand slewed up because
of yesterduy's advance, but a little
business was closed en the break today.
Minneapolis reported increased Heur
sales and St. IOUls ronerteil nn m.
ereaned milling demand for wheat. A
local mill reported bujing all of the Ne.
1 Northern wheat in Chicago, but the
amount wns very small
Cem was easier. The fentiut was
the heavy sellins; of Ma bj a cash
house It was these efterlngs wliieli
fniHtrnteil the attempt of local profes prefes profes
slenals te force a rail v . Country of ef
fviings te nirive were light but re
ceipts c eiitiutieii of geed volume
ij r.lr.K )Ilcl.
fl Clejtlni;
When:
July ..
eni
Miv
Ju ) .
iii.t"
M ' .
J.
J i -Jnuttr
I .r i
J'tlmai
May
nib -
Jnniikr
Mitt
1 'I',
1 "l
1
ir '
!IU"
1.11
1 OP,
')'
03'
OP
31'
3
.VI
as ,
Six,
")7
3S,
8St
11 (.0
s 5V
ti 1 )
s IT
V I i
i or
u or
7 se
; u7
COTTON
MARKET
Nev
Yerli. Jen.
I.iveipoe
alie
New Orleans selling was n feature nr
the start of business en the cotton ex
change teiluj and partlj responsible
for an opening ilnm of 111 te IS points
ri prices The N,.w Orleans matket
.Mi- ' ensiderably le i Uiaii pre i s , ri
it the outset, as there was smttered
Wall Mrcet bu.wng Imnlly, which nut
Miillv absorbed the curly nfli-rlng
Three uetli es were in (eiicern lien
Siibsiqueiitl, the list developed fint(.r
weukiii'SK and wus of about UI points
net, inlluciiiHl b nceshlens in fei -eign
exchange.
The mrlv afternoon innrkei suilered
f'lther weakness under lluniiM .,i ,,ut
-nil liquidation nnd oelllrt; t'rei.i Wnli
Street Heurces. paitly due te the uisler
ntnek und grain markets. Spot linns
were sellers en balance, although there
wus geed hu.viug of Jnnuar.v b.i one
southwestern iiieii'iinnt, who is under under
.teod te own n large priipurtleu of the
cty Yerk stock.
A mil of 1." points oil u Liverpool
'iible den nig the reierted failure of a
Mainhcstir tinn encountered freh sell
ing pressure, and prices were at new
low livels for the session in uud-iifter-t.
een.
1
IHE AFTERNOON
1 n
I '!
.r.ir i
Apn
M
.tllll"
Jlllv
Aii mii
(ii'
III.
HI.I
(;liie eiifn limn
Lew
IS 'JH
is e
,ii IN 71 Is ill
M-p Ii 1H il. IK r,2
M. . IH 1H lit in
July.. 17 r. 17. Sli
Oct.. ID. HO 10.70
Spot. U.ttt.
is It.,
ix :,2
is 04
17.WI
1T0
I I..
' 3 Ml .12
17 siliiis;
17 32
1" I7WB0
?a
evejnikg Public ledm
NEW YORK STOCK EXCHANGE TRANSACTIONS
niv
in
Today's Net
Olee Che
ltldi
. 4BJS
. 11 U
. 4SH
. inw
Lew
Adam Express . . .
Adv.moe numely ..
.Mi- ttednctlen
Aln-t nnbber
Al.islta Junen O M
49U
40
Hit
M
101 H
38 4
SO 4
36H
9 Vt
57
3H5
SO
3SJJ
31
33J4
143
114
11
39'4
44
12!i
13J4
501,4
78 4
38
0 5i
59H
103
85
4
n
43 H
87
111
35',
05U
57 H
8Ta
33i
. BS'i
H4Ji
J'Ml'e
97
150
18J
C7',
78'
103?i
13!-i
3S4
47 U
I
43
02
0
4
'.". 4
29i
005
21'i
U
3H
VA
104
31 e
53 Yt
524
3014
104J4
5)t
100IJ
"
S'i
5S '4
22' i
tic,;
31
5'2
20 U
59 'i
00
41
84
y2
09 H
11 ?4
47'i
"MM
fit
33 'i
55
H'i
3Tj
r.
15
IH'j
31
02 i
101 Vi
ni'e
S4
35
15 'i
20 34
44
41
25
t.nj
3S'J
'-"e
10
50 j
21
90ti
134
40
02
32
VI';
851 J
l.u;
sa,
ic;
50 1 4
10s
117H
isj;
4
3
70'i
49t- 55
11 i
40 -105;-
- H
He ..
3sti-
eow-aeH-l-
59 Vt V
87
34
00 1
33 li
fil 3214
143 -
1HH-
11 -
20JS
44 Allied Chem & Dye
H
Allied Chem & Dye cflOI
Allls-Chalmers 891i
Allls-Chalmers pf .... 814
Am Auric Chem 81
Am AktIc Chem pf... M'5
Am Itnnlt Kote "ST
Am Bert Sjugar SOU
Am Fleet Sugar pf. . .41014
Am Uescli Magneto . 3S
4 Am 1) Shee Ktlv new, . 313,4
Am can 33'S
IS Am Car & Fdy 142
7 Am Car & Fdy pf US
.. Am Chicle 115
. . Am Cotten Oil 20".i
.. Am Cotten Oil pf 44
7 Am 1'xprcsg 1304
.. Am Hide A Leather.. H!fe
. . Am Hide & Leather pf 00
7 Am Ice se
0 Am Ice pf "13i
.. Am Internat Cern ... 40'1
1 Am -La Finn co Krif-. . t'-4
. . Ant Linseed 30"t
1 Am Locomotive lOil'j
4 Am IWdlater 88
. . Am Safety Razor !a
.. Am Ship & Cem ',4
. . Am Smelt 44i
7 Am Smelt pf S7
15 Am Snuff Ill
R Am Steel lAjundites. . 3?JJ
7 Am Steel FdyR pf . . . . 03
.. Am Sugar Kef 60'j
7 Am Sugar Hef pf ... R744
.. Am Sumatra 341i
7 Am Sumatra Ten pf.. CS4
0 Am Tel A Tel 11H
12 Am Tobacco 131
0 Am Tobacco pf new.. 07 'i
12 Am Tobacco B 128
fl Am Waterwltn 6 pf. 1HS
7 Am Waterwlts 7 pf. fli
7 Am Woolen fiO
7 Am Woolen pf 101
. . Am Zinc Lad & Smelt i:i5
. Am Zinc Lead & S pf 3914
.. Anaconda Cepper .... 40JJ
. Assets Realization ... t
4 Asse Drv Goods 44'J
Atch Tep & Sanln Vc. 1H
.1 Atch Tep & S F pf. .. 80
Atlanta Blr & Atlantic
Atlantic Fmlt 2'
Atl r;ulf & W I S h.. 30
10 Atl Ri lining 005
.10 Atlantic Pet 25
.. Austin Nicholas 9'i
.. Aute Sales Cerp 3)
7 Unlriwin Ixicometlvo . ft0!i
7 Haldwln Loce pf 104
.. Ualtlmere & Ohie .... 343;
4 Unltimore & Ohie pf . . tti
r, Uethlehcm Steel 02i
5 Uethlehem Steel B .. 57 U
8 Bethlehem Steel 8 pf!041fc
. . Beeth Fisheries 334
s Brooklyn Ldlsen ...100'A
Brk!Ti Rai'ld Ti.uisif 7' j
. British Km --teel S'J
7 Brit Dm St mm 1st pf . eO'j
12955 l'-i
13 V4-
3951
7954-
73)4
38 1,
054 294-IO214-
85 -
4
e -;
43N-
87
111 4-3354-M
58 54
879i 115 t.
129 54
75: i
13614-
1854 -f
07 51 -
7RJ4-
101 !
I.T-i 4-
39V4
47?,
1
43!4
86
29 't -
093 -
214-
9!i-
:ij,-
94 -101
3414-
5254
62 H
50H 10H4-5H-
100',2 -.
C'i,-
S'4
50: 4 ;
23' j '
117 ' -
31 -
51J-
30;,-
20' i -
09 -
44!i-
S4
6 -
1I9S-
09s;-
nh
4si; -
30 -
f,4 -33'j
-55
ll'i
33 Ji
ll -15
-
1854-
31 -
10 Brit Km Js'eel 2i pf
10 Burns Bres
. . Burns Bres B i vvl) .
32' J
.1171
. 31 U
51 '
. SI 14
. 30
. con
. 40
. 84
. 0
.119?4
. 00;
. 11?4
. 49
. 30 9;
. 04
.. 3i;
. 55 'i
. H'i
33 'i
r.'i
13t,
. ls'i
. 32! i
. n'.i4
.102
. 32
Butte Copper & Zinc.
. . Butte & Superior Cep.
Butterkl;
0 California IMcklnff . . .
. . California Petroleum .
6 California Petrel pf. ,
. . Cal Zinc & Lead
in Canadian Pacific ....
7 Case J I 1st pt
. . Carren Hill Mining. .
0 Chandler Meters ....
. . Centrnl Leather
Central leather pf. .
. . Cerre-de-Pasco
4 Chcsapealve & Ohie .
Chi & 13 III new
. Chi & n 111 new pf
. Chicago & C.t IVest .
.. Chi & Or West pf...
.. Chi Mil & St P.. ..
. . Chi Mil & St P Pf
f Chi & Northwestern.
7 Chi & Northwest pf .
. Chi It I & Pac
7 Chi R I & Pac 7-0 pf
. Clev Cm Chi & St L.
. . Chile Copper
O'J'i-
103 4
31 H-
81 -
55 ;
15!4-
203;-
4414-
4U,
25 05
3SJ4
'.'.
10 :-
50f
21 -f
90 H-
13?;-
40
92 H -
32?; -
Cll4-
H5H
10 t
9
lfli;-
30?;-
10s -
URt;-
19 i
I -
1 '.
70?;-
105
SI
55
15,6
. 27
. 4'
. 34
50
. 05 5
. 3SIJ
. '-'.
. 10
. . rhino Copper
. . Cluett Peubedy
4 Coca-Cela
. . Co'erado Fuel ,fc Iren
0 Celum Ons & Flee...
a Colerado & Southern. .
. . Celurn Graphophene . .
. . Cel Oraphophen.' pf .
4 Cemput Tab Records.
. Consolidated Cigar . .
7 Consolidated fSas
Consolidated Textiles.
. . Continental Can
H Cern Products Ref...
00 Cosden A Ce
t Crucible Slcl
7 crucible Strel pf .
. . Cuban Am Sugar. . .
Cuban Cane Sugar. . .
Cuban Cane Sugar pf
4 Davisen Chemical . . .
:
3S?S
21
00(
14e
47'i
03'a
31 !,
(in
10';
17 1;
53 J,
IAS
1103,
10
I
II Delaware & Hudsen
Del Lnclt & Western.
1 Deme Mines
Duluth Se S & At.
llmcrsen- Brant, ng
,1 Knd'oeU-Johnsnn . .
7 Kndlcott-Jelinson pf
KG
1014
151 a
tll'i
77H
05
101
. Hrlc
. ICrie 1st pf
. Krle 2d pf
S Famous Players L . ,
8 Fnmeus Players L pf.
10 Fisher Bedy
7 Fisher Bedy pf
. . Flsl; Rubber
Freeport Texas
liaMeri Wins & Wig
General Asphalt ....
.1 General Asphnlt pf .
8 General Llectrlc ...
i ;.uer tl Meters . . .
0 i l.-n Mters deb G' . . .
7 i ;en Meters deb '"l
Goedrich II F
; 'loeilrich H I'' Jrt
. Cr.vnb ' 'otiBel M &. M
1054 105-i-
14J,-
10)4 '
75?;-
95 -75
-70
-12
13J4-
i !,
5S -92
-13S
-
s?4-
705;
HI
3514 -
S2
50 '4
,11 H-
10!4
73?i
0:1 !i
73
70 54
ll!4
1354
1
37 5j
02
137 K
8 54
705,
82
35!;
12
20! j
31 H
72
20
9 '4
10
43?4
I
7',
71
II
8 54
31 4
3si;
I!.
314
35 1,
1054
80J4
13 54
0 J H
30 1 4
7i;,
35
mi
49 54
nr,
34
35;
12 'i
13U
i
C
OS!'
3Mt
t.
70U
IliiaJ
S5
16' j
31 ",
73
111
10
10
47';
1
4
Gre.it Nerm "re ru.s.
Gii-.it ."rtlern pf . .
i ;-. n i ui.anea ' 'op
i Juaiit .iiatue Sugar . .
Gulf Mobile I Ner p'
Gulf State Steel
311 -
!4 r
16
405; i
1 -70?-
7ir,
11 v; 1
.114
3s 54
-
33 3.4 I
36)4 -h054
-1354
t
111 -20'
; -71JB-5.1
-II
W
4914-
1354-
Hablrshaw HI Cable
t K.tSke',1
& Barker Car 77'S
Hn'men OH 5'
ll.ipp Moteicar ... . II .
7 Illinois Central 9H5'4
Oil lidialcrna Ilnf 3'4
Insp ration i.'uti Cep 3s j
. In'eib Cen Cerp . I '4
Ititerb con Cerp pf ' 3'i
I111 Agrlcul Cerp pf . 354
30 lntt 11 utleital Cemeri' 30''i
5 ji.t U.tivesU'r new ... sir,
Irii Mer M.irlne 13'j
tl I m M'r Marine pf . . Hlli
In-, in.it Motertr 1 It . , 37! 4
7 lnl Moteitruclt 1st pf. I7b
7 lnl Motertrucl; 2d pr. 35
International Nickel . II U
Inttrnatlenal Paper .. 5154
In-, nclble I'll ''erp . 13?;
lien Pieducta 21
Island OH ''
Je'tel 'feu 10H
(III
1011 7
100 '.
1500
",;)
7.'tOD
ten
70)
100J
T. t.il i-"1
21
lon len
sliiticii
1054
s'.i 71I1) flirtu iiiiiBrd ivIlliTSt'.UOU
DIVIDENDS DECLARED
rnmrnenni-allh IMUen riiiiipni, iUrtrlv
NEW YORK COFFEE MARKET
Y'.t
rn.
S . " " I
S 3.1 f I !T
S .' I JS
k,2IIi .f'
II B' I.' w ' '-
t I
s I
H .III
k in !nuriall-IUnil
s r
leFf 12, e.tj lii February 1
s.4" January 13
J'J en LOinmen. rnble January 31 te Ktntk uf
s sill recenl J.inuaiy II
s 3'J jvdernl buuar ltiflr.lnir i'muMIS. quar
J''l!i tfrty. l' Pr nt in " inineir und l1, pr
s 3d l cent en pri'fin-il. both ruyi'litc l'druary 1
s II.-.
s .'7
K .17
IX In
.s a
H J J S 2J'(I J.I
s J J
s JU s J'J U J.I
22
S .'
' ..'
1 1 .1 I
" J"1 in stecl; ftf r-efl'l
s III I
s 3d
VWitiTii sii.iti h O.ih nrnl l.li'in'L (uiiicaui.
luariult ' 'i ur i 'Hi cn ir f rr !. fiuydbln
Junuui.' M ' Ht.nl. of iiciril Dnwii.ir 31
W. , 111
I I'i
'. lu r
Pl .n
.1 of
ll.nri', Uic 31
"iNii'pli-i, Jn.
Yerk
in li'lO IIM.I I .
lllvelltul
J''H"I ilUllnK till
Swift &. Ce. Had Lean Year
Si' tfl A f'1 fr t) VB,i "i ite'l November
r, Bliewnl urena p.irnliii(n i,r JsuO uOO.miO.
iim.mirccl wlili 11 imi.fKl i (Kill In V)JI)
udiI II "i)0.')0 0.)Q it. KMIi AfU-r P.ilur.il
nil feri'lKli uixii th.r wis 11 ti.'t Iehh of
ii.Hl'j 2HI iifcn'iiKl . ii' t itiiin of . 170 3k2
in llijn unit m t Kt-liv . ' '..I MTli.lhl hi
l'l Th IIIUJTIV Hi". I'T'i.tlH u leii of
- iilabilfhia, hukbdaVi ljauaky a, luaa
WlUJlClJWW-l h tmiihm
I
niv.
In t
Sites
100
900
209
200
000
8600
3300
4000
100O
StOO
100
200
6700
100
100
200
600
200
100
300
400
1300
200
tee
600
300
600
100
100
100
100
40000
300
500
0700
45000
IIiKh
Jewel Tea pf 39?;
Lew
39?;
36?;
2255
54
6?;
33J4
S5?4
11154
110
45
44
ana
57 n
ISA
10754
2
13?;
9
108 14
150
73
" .
3054
ns
24
20?;
24J5
48
12
104
108
10754
83
26 !4
HJi
28 U
ti
?4
l!4
7?4
IC54
"54
03J4
14
295
09
34
1
85
3! R
1434
73
51 4
61?;
29 ?4
13!4
H
4454
38 1;
75?(
33
9
11 !4
i
13
li
36
03?;
12
441-4
4054
45
15?;
33! 4
9?i
01
1154
20
33
90
30
13!4
30
10?;
0115
2154
14J4
6.114
9154
2314
39
105(4
.12
35'4
. . Jenes Bres Tea 38
. . Kansas City Southern 323;
4 Kansas City Se pf.... 51J4
l!t
.. Kansas & Oulf
.. Kelly Spring Tire...
.. Kcnnecett Copper ...
.. Keystone T & n ...
0 Kresgts 8 S
. . Lackawanna Steel . .
. . Laclede Ons of St L.
3 Lee Rubber Tire ...
no LehlBh Vnlley
12 Liggett & Myers....
7 LlRtfett & Myers pf . .
7 Lima txicometlvo . . .
. . Leewe Ce
1 Left C'nndv
7
, 30)4
. 38M
. 1754
.11354
. U
. 44
. 37 H
, 58H
,160
.10754
. 93J4
. 12J4
U4
Hi
!
. i.euisvine ft rvaanviueiirarf
12 Lerlllard Tobacco ....13914
0 Mnckey Ces 73
. . Manatl Sugar 3?J
T MAnhattnn Kiev guar. 35JS
ti
t.i
. . Mnrket St Itwy pr pf.
.. Mnrlln Oil
Martin Prry
. Math Alkali
.. Max Moter Class A..
35
V
154
"v
54
S
3J4
314
"54
1
t
Si
l.i
IS
!4
!i
ir.
'4
l'
;.
' ,
'4!
1
3!S
20f4
3355
48
.. Maxwell Class B 12
8 Mny Dept Stores 104
7 Mny Dcpt Stores pf.,108
15 Mexican Petroleum ..lltt
8 Mexican Petroleum nf 85
Miami Copper 39
1.20 Middle Htnten Cerp
1354
.. .ilidvnld Steel
.. Minn & St Leuis
. . Me Kansas A Texas..
. . Me Knn & Texas pf..
. . Me Knn & Tex (wl) . .
Me Knn & T (wl) pf.
.. Missouri Pacific
. Me-radfiu pf
3 Mentana Power
. . Montgomery Ward . . .
. Mulllns Bedy
7 Nat Cleak & Suit pf..
8 Nnt Bnam & 8t
30?
5?
4
m
8
26
19?;
43
64
154
2054
70
500
21000
33S0
8200
800
500
1000
500
600
100
500
3100
100
800
200
100
1000
100
100
ten :
1000
tee
1700
500
1200
1011
100
300
500
100
300
300
20000
10800
700
200
500
2700
1100
noe
200
.100
400
100
1700
1400
100
2000
3100
500
200
300
100
2500
100
1.100
8100
1000
110 J
1000
4700
200
1100
9300
300
500
2700
400
700
200
400
3100
400
11011
400
300
8500
700
100
3100
1200
3100
1500
5500
4101)
57!)
400
200
2510
419011
ODD
70U
IS400
100
4100
3200
40')
10 1-4
7 Nnt Knam & StamD nf 91
e National Lead 86
Nat It n of Mex 2d pf 3J4
Nev Cen Copper 14?A
S New Yerk Centrnl... 73 H
3 New Yerk C ft St L. . 51 W
3'D
t !
1
.. X Y Chi & St L 2d pf
2 se New Yerk Deck
. . New Yerk N H A II .
. Norfolk & Southern.
3 North American ctfs.
3 N American pf ctfs.
7 Northern Pacific . . .
Neva Scotia S & C .
2 Nunally Ce
. . Ohie Bedy & Blewer.
.. Okla Pred & net...
.. Orpheum Circuit ...
.. Otis Steel
2 Owens Bottling
0 Pacific c,ns & i:iec. . .
. . Pacific Mall
3 Pacific Oil
0 Pan-Amer Petrel . . .
I Pan-Amer B
. . Panhandle pf
.. Parish A BlnRliam..
2 Pennsylvania It It...
. Penn Seaboard Steel
fi Peeples Oas Chicago.
.. Peoria & Eastern...
. . Pere Marquette
.1 Philadelphia Ce
.. Phllllps-Jenes
.30 Phillips Pet
. . Plerce-Arrew Moter .
. . Plerce-Arrew Met pf .
.. riercc Oil
5 Pitts Ceal
.. Pitts A West Va
1.3U Pend Creek Ceal
.. Pressed Steel Car. ..
61 a;
29?,
12T4
814
44?i
38 fi
70 !4
33
0'i
"f4
-'
15?;
in
30
034
15
tea;
3u;
40
73
13
33,'i
1954
61?;
"54
20
3254
90
30 3;
13?4
30
. 1114
62
53
14?i
14
H
si
l'l
63 H
7 Tressed Steel Car pf. 91 14
.. Producers Refiners .. 2754
Producers Ilefmers pt. 30
h Pullman 107?;
. Punta Alegre Sugar.. 3154
2 Pure Oil 30
h Hallway Rteet Spring. 97J4
. . Bay Cen Copper, -.-.-m 14Vfj
Heading .....7JS54,-
2 Ilendlni; 2d pt , . 47
. P.eplegle Steel ..,.,
. Republic Iren & Steel. 54J-4
7 Hepub Iren & Steel pf 80
Kepublle Meters 8
r, 20 Iteyal Dutch NY ... 5I)'J
. St Leuis San Frana. . 293,
. St Leuis Southwest pf 331,
. . Santa Cecelia Sugar. . 2
54
'4
;
5
5;
3i
34
l'-4
I4I-4-?154
40?4
2014
62
60
754
48J4
20?;
3354
174
r.t?;
91
214
8'4
3154
It 14
37
70
78 ?4
4S
IS
47
02!4
169 1;
llltj
21 '4
33.;
334
:!,
3",
.9',
4374
51
33 fi
39t
14
ISO
lit
883;
ej;
715,
7'4
125 1 i
10.1
2554
71
I2014
20 '4
50'
37 1 1
n;
Snxen Moter
.. Pears- Heebuclc
7 Sears-Iteebuck pf ....
.. Seneca Cep Cerp
Sliattue'.i Arizona Cerp
-'4
CJJ4
03 1 ;
5354
8)4
74 isnell Transport
. . Sinclair Oil
. . Sless-Sheffleld
37 n
19J4
3S
70
78J4
50
18 54
7 Sless-Sheffleld pf . .
0 Southern Pacific . . .
. . Se Perte P.lte Sugar.
. . Southern Hail
Southern Railway pf
4 Standard Oil of Cal.
154
15;
15;
15-4
!i
Wtj4
5 Standard Oil of N J.. 17554
7 Stand Oil of N J pf. .IH54
; Stewnrt Warner Speee 25
stremberg Cnrb 38;;
Submarine Beat Cerp. 4 '.
7 Studebaher
. Superior Oil Cerp .
Teim Cep & Chem . . .
:i Texas Ce
Texns & Piiclllc . . . .
I Texns & Pac C & O.
30 Texas O Sul
Third Ave.
Tidewater Oil its. . .
II Tobacco Products . .
7 Tobacco Products pf.
Transcen OH
I'nlen Bag & Paper.
. Cnlen Oil
. 8254
0
. 10
, 44
. 75 Ji
. 23 H
, 401S
. l54
.130
02?;
. 88?;
. 1054
t
c
S4
54 1
100
1100
100
9100
300
1400
800
!4
Mi
1
6
. 7I,
, . 18 5-4
,.12G
..103J4
, . 551.
.. Jl
..12354
10 rnlen Pucllle
7 I'nlen Tank Car pf
. I'nlted Alley Steel.
. I'nlted lTug
ri I'nlted Fruit
300
20(1
100
(lOtl
100
31011
1900
1200
!ll)0
3701)
3011
1500')
500
41011
1000
700
1110
100
0200
200
101)
201)
100
300
Kit)
200
700
90D
7 mi
301)
5.100
100
3100
1100
100
tee
tee
710
100
200
4'4
5'4
;
"
c;
I'nlted Itwy Invest pf 2054
1, I'nlted ltctall Stores.. 61?4
1' S Ind Alcohol. ..
I' S Feed Products.
IT S Healtv A Imp.
', S Rubber
s l' S llubbtr 1st pf .
fi ' S St' el
7 r s stcii pt
1 J1 ! J
. . ?4
. 5S
, . 53?i
. . 99
. . 83?;
..111)4
. . 3 J,
.. 115,
. . 2'i
. !8'4
57 '
32
991,
S2J
Ul44
een,
le,
4
s
SO
30
IV,
Ui,
3D ,,
131,
U
0
14',
16
00'
30
07,
359,
9
If j
3',
.'7
2S
OH
130
a .-i
2 1 tab Copper ,
I lull Seu
u-i'ar Chemical . . .
'a-'ar Chemical pf.
11 .1 Iren Ceal U Coke
.inadlum Cerp ....
. iadeu Ine
W.Umsh
V. abash pf A
W.ibiuth pf II
in wUh I'm go i:xpr.8S
V stem Mai viand .
V.
80
32 ? i
H
0 5,
20 ;
1 '
6954
0
3
l.i
'i
Vest Maryland 2d pf 14 5,
Western Pacific 105;
7 Western Chlon Tel . 05 54
4 Westlngheiise K A M. 501;
Wheeling A L R 7
4 White Moter 37!4
White Oil Cerp 9?;
Wkk Hpene Steel Cerp 10J4
. wtllya-eiertand a?
Will.-'verland pf ,. 37
Wilsen A Ce 3S
7 Wilsen A Ce pf 00
H Woolworth F W H0J4
l WoitbiiiRten Pump .. 44J4
.'!.- Wright Aero 8
13.
54
.'
I
I'i
1-4
1.
- ',
- i - i 1;
veiteriUy
. t v .i!vl.!inl
Ihus' fat ihlswuk 2.010 000 sh4ien
BANK CLEARING6
1' ir.lt clearlncii triluv, "ni'iirml v ,iu r,i.
r, ,euii'ilint rtvy l"t t.u ciiii
l-'2 1021 it,:;,)
I'hill. ..$( ') "00 s., (,.1 -,- Jf, jS ., ;,
no-ten . us. noe, noe iH ii'j i. him iiu.uha'fiu
riilrain, tl7,S'Jll 0(10 HH fi.-.U 473 '"',"l)
N. 1'uili 830. hOO.OOD 74T.OI.7 4 In 'Jl.l.40')!'iii
Englewood State Bank Reerrjanlzetl
( Itlr.ice. Jan. .".. H"i.iiirila .Hen nf tbi,
Kiik1-voeiI Hiiii Hunk. niHllHt ei tti" in,,
liiuilmm linnliutieim ilniiilni.ti'ii , u,H thj,,,,
iiiir "I", wam ki i eini'liiih'Hl hit., hint rilKlit
niul eiK'ncI for biiliifKii tliln nurntiiu uH
I th riin Uniil"nei rftnti. llrtnli Th.. new
Inmllutlim -fill wiUM It"1 mm. iiunrirtB.
Th 'llld'n v lilnlrew fium u,,- i,,,,,!, nnd
I .trt ripliic"l by ether llimiu'lul Intnre-ti.
I French Bank Statement
lirl. J-." " The v fl.i iim ii.i.i ,f
tli I Li. lit of Ki in In.i.'H Hi" fnl'ouln. fnl'euln.
(haniC'ii! a-ild in linbil .nercunU sS'jiii
lu SteuU
of nceril
fuiiipufiy. iiuiirtr
2 r.e
J'inu-ir se.
I'e.M1! .inpaiiy. iuait-rlv
prrfi'ii
J.ll ll.il
1 ptiNabli. K. In uur .
in
Movemente of Vessels
Ni-h urk. Jan. 5 Arrlvnl: llj.jnuii,
rlniciis, I) c. 21). Arrlieil. Mt'K.ill IIlla-,
mivir in un'i ii '
Sailed- llneliarnb' au
r- HHed! CarnnU
ti uiiiiu: r ii ii in ' it'iin-si'i iiikiunii. ixrii.if iinriuiin n i l.
retth in cliriiliitlen iin-r-ii-M :i .37 l.miO; n, lut,7, ),(. , feh I ,' j ,Z .' ,','
, I'rtnuury d-ne-lta dcrri-urcil 7.328 iiei)' hoi:, cintiirle. lA udoeoo B'J ,,.? .f.,u..r.V lu'
Nw Ural 'lopeKltH nu r-j"''! . 'V',," .'"" Will ur pi .Minim iiM en jniiinirv i ,i
I Ulacpillitcrt lne-nnl 3ll.mn,0nil, ndvanrra jUU a Hnu ,,, u een OOO S V.r .r. -"
NfW I.Sr..l 14 '177 000 Tle Htat. Will, fenwear Hut. , V ItJmla lend, "
i.-O O'jO 010 Jiarrt n the bank Jnirr 5 ' ene- en
- i
I
LITTLE ACTION
TeJay's Net
Clese Chse.
39-f 54
36?;- 54
33?;- U
5414 154
I
7
wit- 'Vj Price Vacations .Were Unimper
16?;
tant Except in Few In
active Issues
110 - U4 '
3!S '4 1
44 - 34 '
37 J4- V
5SJ4-- ?i
It wns another uneventful '!iy in the
local mnrket. The volume of dealings
wns light. Prlee changes were gener
ally unimportant and except In a few
inuctlre Issues were confined te smnll
fractions. The chief factor behind the
heng-flre aspect was the confusing po
sition of the larger market and the In
creasing divergent opinion as te the
sptviilntlve situation.
Pennsylvania Railroad continued one
cf the mere nctlve fentures and there
were many reasons for believing that
some of the Stock sold for Income tax
160
10754- 3?4
93 - 3
1?4 "
9 - H
10M4- T
139 - !5
73 ! 1
nt
3514 - !S
33
24?; -203;-
244
48 -
12
104 -108
-108
!i-
83 -
28J4-
13
29fi
54
3
i
1
1 purposes wns being taken back. At any
I rale, According te the fleer reports for
the first time In many months, It wns
3
354
!4
'154
easier ;e execute selling orders than nil
the buying order. The sleck ruled steady
between S3)i nnd 311.
In the ether local shares the denl-
Ingi were altogether Dcrfunctery. Elcc-
Jl'5
57 " " 1; j trie Htornge Jlattcry moved ever n
11; .. ' point en moderate buying, which, hew-
iji - ti ever, iiisciescu a scant suppiy. unict;
'' . t I l..n. 111...,. .. .1.. ..II... I.nx.1 full
2S?i !-10J4-4414-
61
11
39J4 t
6 3454
91 -
85 -
3 J4
li?4-
73 -31
4-
01 ?i !
-- -1254
854-44T-4
nsn-
75 Sg -5.1
i
0'4
11)4-
254
IV -
955 .
20
3?;-
13 t-
44?;-
49?i-45?4-72f4-
13?;-
3394-
9?; -0114
111,
20 -
.1354-
90 -30
-
1354-
30 -
10?;-
65
033;-it4-
3354
39 103?; -
32H-33?4-93
-
54
54
52
It
'h
4
t
54
14
14
54
VA
14
54
H
!4
?i
!4
"?l
l!4
'js
54
74
154
134
154
m
14
!4
ii
i-,.ll OLUO H Oil till eun I ion,... .-
back te 87. Cambria Iren wns off
a point from the previous sale, while
American Ons advanced 2 points.
The utility group was nlmest en
tirely neglected. Few odd-let trnns trnns
nctlenn were recorded in U. O. I.,
Philadelphia Electric and Philadelphia
Itnpld Trnnslt.
The nctlen of the Sleck Exchange of
ficials in deciding net te print quota
tions of any of the lecnl shares en
trcnwictienx under five shares was
Bemevvhnt surprising in view of the
large amount of odd-let business done
in the local shares. The eftcntimc wide
quotations, however, between the sales,
of these emnll lets nnd the larger deal
ings caused considerable confusion and
discontent and, perhnp with the hope
of averting this, the nctlen wns taken.
Lecal money mnrket conditions nrc
net easing up In a mnnner thnt many
hnd hoped, but there is n growing be
lief a pronounced change will take
place toward the end of the current
month. At the moment liy per cent Is
virtually the minimum for collateral
leans and some few hnve been made
in the Inst few days nt (1 per cent.'
.Nnturnily in view of the recent unpleas
ant experiences all paper la being scru
tinized with the greatest care iib well
as Inventories. At the same time most
of the larger leaning Institutions are
disposed te keep funds ns liquid as
possible and arc disinclined te negotiate
long maturities.
Philadelphia Stocks
Net
Chile.
a;
74 I lUth
i-' lOAJax Hub, 1(1
14 f 400 Am Strs.. 87 H-
Ijew
111
87
5fl
48
4
433
044
37
H9'
10
121
nstt
32
r7r's-
liJVs
285H
ilK's
011,
30 f.
230',
27 I
INi,
02
Clesa
10
87 1
r V:
40 2
4 ..
43 ''h
1)4 I".!,
.'17 Mj Vi
en 1
14
ilHITAtll Urtlg. .I'i)
100 Am fins... 40
58 Am Kwys 4
HMJtAm Smelt 4r,fi
llltllnlil I.oce Ols
ISSCamb Iren .'17S
nertCn Cn Hug OS
200tCu Am Su ll!
7D0 i:icc Ster.l2.'li.
lriOOcn Asph. 01
-TOOtOen-'Mttu. -
' - Ti In 4?d-N A il2
"tJenes Ten 3ii
200 Lake Sup. 7
12.1 1.eh Vul.. i-7-l,
lOOt.Mid S O. VJ'
SeOtMldrHle.. L'H'ii
10:1:1 Pa H It.. :t:iis
2."5 Pn Salt M ill),
11 PhllCoepf no.'.
115 Philn Klcc 24
257 de pref.. 27 K
450 P It T... lSy.
SIKItPitts Ceal 02 '
lOOITex Pac U
& O.... 25
HO Ten Ilel.. li
100 Ten Mln. 1,',,
54
l!4:
i-l'-l -
10U
122(?.
L L 1 .
A. 1
1
C8i ,
8?i Vi
32 -h -Mi
3T
7 ..
r,7K.-f. it,
12 iS,
20W176
333, . .
003. 2i
30:U- ii
ei
IS)..,
:71!4 :
40,-
l.i
26)4 1?;
52 J4 R4
hi) -J-754-
4STi
20?;-3354-
1
5
l?i
!4
H
254
6254-
91 -
22 -
8)4
37 i-
1954-
37
70 x
"Ji-
4s -IS
-
47 54-
91 -
171) -
111 -
35 -
.13(4-
:'i -79f,-
8l
34
H '
4
1 i
)4;
02
25
Ii'
ly.r
O's,
34'.'.
.i
Hi..
n 'j
0.11.
30 Vn Trnc. 34'.
10UOI.... 3S3.
210 de pref. neji
10 U Ces N ,1.177
:mK hsiir-t-' i',
503. nea; ii
177 177 ''. 1
N'it chance maile bjr comparlen with last '
f.ile en New Yerk Stock KTChanite.
Total n.ilf.s. R1H2 fhnre, compared with
nep) share" yesterday. Thus l'ar this week,
20. 11 1 gharri.
rillLVIIKI.I'lll.V HONDs
."'.000 Liberty ".'is '47 05 1W
51)00 'Liberty 31 .s '47 1)5.20
i
3 4
!
3?i
!'4 -
9rt
43i-;-
33'f,
237, -3974
'
14(4
130
25i I-
88 n; (
10 71 H
"!4-13554-10.1
35
71 ).
120?;-
201, I
5076 -37'J-
I'.'Oiil) Liberty 2d 4
25000 Liberty 2d 4
"is '42.. lets 1H1.40
Ks 42 00. til)
155D0 Liberty 2d 4'4s '42.
.".10(H) I.lhertv 3d 4',s '2S.
7M)l) Liberty th 4Kb "IS.
100 Liberty 4th 4Ks '38.
110.50
t'i
07.50
07.0(1,
110.80 !
1)7.001
J 1011 Liberty 4th 4Ks '38
54
Vt
2H
74
HE LOCAL MARKET
OtllM) Vlcterv 4is '23 100.04
575.00(1 Victory i!,,s '23. . .1eIh.100.0II '
2251) Victory n '23. . .lets. llO.llOl
500 Victory Y '23 100.18
311(1 Amrr lias & i:iee rm.letH SI .
2IHMJ Amer (las Jt Ijlec Cs.lets 81V. I
1000 l'.lectric & People's 4s. . 02 " I
2000 Kleetrlc U People's 4s. . (123,,
2001) r.qiiitabli' (Ins 5s IMPi,
L'lKIO Keystniii. 'J'ele y ,"h.... 2''S
2UIMI Lehigh Nnv gen 4'.' reg 074
0(100 Lehigh Valley Its letslOl'..
5O0II Lehiiih Vnllev IN 101 Ml
20011 Lehigh Vjilley (Is 101 1. I
loot) l'eniisjlMinln O'.js IOIV
2'iiM) Philn l'.lectric 1st 5s.. lets 03',
IOOO I'hllii Llectrlc 1st 5s P3
21000 Hilhi Liectiic (Is lets KHji:.
50(1 l'hile Kleetrlc (Is 101
5000 Philn P.le. trie (Is lets 0(i.',
KMMI Public Sirvlcc 7s !H17
IOOO Heading general ! .j
IOOO Spanii'i-Aineileun .... 100
Tutul. -.-! r.:.n ii.mnurcil with Jl'Js'.eu
n-sterJ.iT liuk fi thU vPfl.. f l.'.'i'i) 2,-,u
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Financial Briefs
Tim Ilnr.'t of li iclntnl nrliiltmim rat.i f
(llticeutii ren linn unrhmiifnl at .'. pr cent
i n'rler ut tie hunnltiEten Trust iiililnl
r.T. iniO out of .mnlnUH te the nurnlus fund
lejk'nic it tytul nurjlue et tS'.'n.UUii,
IMniiril :
u mieU'i
il.aiwe.
lucl.tnn, Jr , has b. en
si llm PhlUduli'liU HIulI.
I 'lti'l liHi' ir vt ttl Ini-nfj (li IK.. ,
, iiuntrlul iei Kh H'lKuicul .70 iir (.I'lit n,i,,
Jii in 7H.01. Wlili inn twnty r..iiiuu,i,
ailv.uiif.l ill tier n-nl te 13.IH.
'I'hi- ) iik in. ii Turn i'eni..in I i , ,
..', Ill) nut of r.iriilll.'i t t),.. surplus 'in, ,
iniklnK ilmi luna :ij:.,ume.
lu is tjilleiw.: thur rie nt iii,.,ti,
inurn, .lltllOIIKb Ceuk'lll nnJ KrilllKCIH (
ua a 1 1 nil teii.
Alliril.ltn tnlllPS u, I(.,ir(e(H
ui r. 1
uuriiiir ie un'i uiiijr MiuiitH with m ,111.1,1. .
lu pevit en Ih'j i uiitliiinsl hHm- nf mill ..
c.ill leHrin nprnlim at r. 11. r cent, but druunliu
ulnient lminnlliituly In Jlj. -."ii'iiu
The liorrewlni: ilinn,ni nfpr the ,,,M, ,,.
icrJaj' v-.-iti the liMiiiMt nelnl In u Ieiik time
Hiiuny nr.)ftii(.r..i ut mlil.lay, nlu
ii tan
innuiiii ie- i-u' nun, lieiiiMH Avpha t. ti-l
...,n lli nliellii i.x.l u .'. .'.. ''fc' ! M-
J..y ..nil 1'iillt. ruin i,ur th.- brunt f,h,
innviini-nt vhuninc iuihih nf 2 tn almeM -pnlntH,
"
..., . - -. -, - "minium I.IIM
Of .Sen
ilclirrul M itnrn 'nuii,. h i,eir le in t -fe,ii!iiB-
of this rtli ,, ml ,", n ,t ',..;;,
122 oeo.u'H aimealiv t th. VempanV .,
mum... bu, h ii iii iim i:iie UK, .(,'., ;i.l.uriV:
ie iiref-rrfii anj ,llimiire SleuU- r"v
Thri-n hlzi I. munlclri.il Inn,,) laaues . in i
,plil in ill;i IM.lt, tli i,mi "5 i ,'i'r
l'Vv n TO rilien Mini.. Iinfnn ,.n. "'.'I
iVinu- bnn.' net teV-.'Vh rer ri,,rOI?.ir
r.-BFui i.iu.uiiii,
rwmmmivi
RESOURCES
AS OF DECEMBER 31ST
1917 1 $3,295,780.56
1918........
1919
1920......
i921 .: . .
... 4,700,223.01
... 6,340,480.16
... 7,631,938.71
$8,548,059.20
The Colonial Trust Company
member Federal Reserve System
1 3th and Market Streets
Open Every Evening for Deposits and New Accounts
! A Few Things Werth Knewing
1 An Advertisement YOU Should Read
1. Securities deposited with this firm as collateral will
j remain identically in their original form.
j 2. Each nnd every stock in which a client is interested is
recorded nnd he is kept constantly informed by a special
Sealed Bulletin of all mnttcrs pertaining te his holdings.
I I. Clients or prospective clients mny rest assured that they
will never be annoyed by telopheno calls or telegraph
messages te be rushed into buying stocks.
'i. Stocks of the "promotion" or otherwise questionable
. variety nrc strictly "taboo" and urider no consideration
whatever "Will we rec6mmcnd -their purchase. - -
I
5. A receipt in the form of n clean, courteous, dependable and
in every way nn eflkient brokerage service is given for
all business entrusted te us,
6. "UPS AND DOWNS," a market review, which represents
a concise consensus of a multitude of recognized statisti
cians' and expert mnrket observers' opinions, is issued
by us weekly for the benefit of our clients nnd prospec
tive clients. Te our knowledge,, it is the only market
review of its kind in existence. It tells the stocks that
should be bought or sold with approximate prices, nnd
incidentally
This Review has been nearly 95 per cent correct,
covering a continuous period of ever one year.
There is no chai'ge nor obligation for "Ups nnd Downs."
It is complimentary for n limited time.
We are prepared le handle your business en the above baiii
Alan A. Alexander & Ce.
STOCKS and BONDS
COLONIAL TRUST BLDG., PHILADELPHIA
l.r. Il.icr (illlll lull: lxieixt 5310-1-2-3-41 Ilrunrli (IITlre. Ilrlrizttun. V I.
if, 1
Service and Stability
Statement
la the close of. business December Mat, 11121
ASSETS
. a.-.h
U. S. 1. ilii'i ty lluinls and Treusury Ci'itillcntus.
Other Investment .Securities
Mortgages
Cenmu'icinl Paper and Trade At'ccptunct'
Limns en Collateral
Otlicc Building, Vault and Furnittue
Mifccc'llaneeus A.scts
TOTAL A SHUTS
i n
LIABILITIES
Capital
Surplus and I ndivided Profits. . ,
Deposits ,
Miscellaneous Liabilities
TOTAL LIABILITIES
Integrity Trust Company
Fourth and Green Streets
Capital . . . . $5000
Surplus and Pre fit a $1,800,000
,
'
-i
New England
Oil Refining Ce.
T. Serial Notes
Te Net 6 te 7-2r;
nccerding te maturity
Tax Refund in Pcnna.
Baker, Ayling &. Yeung
.lll-.r.l'1l W. SJVAIN. .Ir. M,,i7r
Land Title BMg,
Bo'teti Phila-lelphU
,
3S3
jsjf'
"ll
4
'
. $:-Ul ,047.2"
705,940.90
. 2,359,117.91
699,659.64
. 2,205,162.63
. 3,794,923.15
124,733.04
17,090.91
. SI 0,907,673.46
. .ViOO.OOO.OO
. 1,863,902.13
. 8,527,656.69
16,116.62
.SI 0.907,673.16
Jfe. ;(3aceit ci Pavie
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ii.i iiiiimtsi't triu;i-i
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"i! '-'"i"'- n,rus',rnTsrJ.
sss?
Cfergl. Lt Pr. & Rwy. 5'i, 1?
Earninn 23 timti inlereit i-
7.1SCf
"Saltlf Firil"
R. L. BOSTON & CO
Ul IVALMT fT I'llll
npruce z.tt aim rn'i
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