faiWwr wwsp1 " " . V ' ' SHWi' ' " ' 'Tw " y cmnwiw'f ' ia ' , .yre nr! j ; r ' " l -ami ;, r t .'' ' -Tf" , ,(. "" v3'TTfC fy: ' ',1 ' .. ' Vj jr EVENING PUBLIC J.EDGER-MlAlELPHIAt IbUtJLDA'. ."i, ,, f JLi ,i.WIk.J JUIljMi- Li 3T TV tf frV . t sj- 5 DIGEST of the Revenue Act of 1921 A carefully prepared analysis of the provi previ sions of the Law with useful tables for com puting taxes. Fret en rcquctt The National City Cempair Philadelphia 1421 Chestnut St Atlantic City Challente Bleck 1Z2S Boardwalk I V 500,000,000 POUNDS Is the estimated fiinire for copper sales in W2. What it Means Whnt this remarknble iii crease, should mean In the way of profit te these who make immediate pur pur chusenef nny of 10 select ed Copper Stocks Is ex plained iu Letter ll'L'-K. Send for a copy today. DUNHAM 6p 43 Exchange Place, New Yerk 'Pttmmm 7T.ii. r 0300-16 Foreign Bends Payable in Dollars The external lean of a government is consid ered a better security than an internal lean. Furthermore, if an ex ternal lean is payable in dollars, American inves- , ters are assured of free dom from any changes ' in prices due te fluctua tion in exchange rates. We invite special con sideration of certain I Canadian Government and provincial external leans and also the dollar bends of some of the strongest Seuth Amer ican nations. Hemphill, Noyes 3& Ce. Mombtte Ntw Yerk Stock Eichtnge Franklin Bk. Bldg., Philadelphia New Yek Bosten Scrantea SuflVle Albany Syracux Baltimore Six Selected Bend Groups A. GllUdtt Dcndi Sullaklt for Etlata B. Htgh-tra& Lanf4trm BenJs. C. Excetltnt Shett-ttrm luutt. D. Hlh YalJ Bend Batlelnt E. Attractive ConixrttbUBendt ". A tWU-bctanctd Greup Combination There are five bends In each ireup, elected by our bend expert! from the entire list as the outstanding opportunities available te-day. A unique ;hart Is also Included, re vealing the rapidity with which bends bought en account pay for themselves If Interest is applied to ward payment of the balance due. Investors who are Interested In pur chasing ceed bends or in switching their present holdings Inte mere attractive Issues, should And this circular of practical value. Copy mant fro en rmqvmat Ask for P. A. 236 "Always Without Obligation" S'S-RUSKAY&CO. ESTABLISHED W7T Members CcnieMsled Sleck ExcK of M 1303 WALNUT ST. PHILADELPHIA.!1. Phene locust 7 700 IH,M PhmsukH Dm Beaxxmtt Gnuce Dtrtrt Prtxnit Wtrt 3ytei in v 3 fl.V life H C. C. C. & St. L. R. R. 1 I tU 11 (C. W. & M. Dir.) I( !' lit 4s 1991 ;,-""' t HI Tki bend rated AAA br 'jfj' '! V' lllll O0'jr ' dTancd ever tea .-if-' 3 J lllll J0'B'' 'n Prc nl J'' i 00 -W tt lllll '' 'k c,,,P,,t" kth-iradi jpfif ' Jllll Wc bends in tie market. OWK i WlBMMaUM.PHIlAMiaiUA mtim: J I jt.wKatMw w IBM: J LA MIMMRr V ! EBf I 'CS iitwt aawmaj. B." Edward B.Smith & Ce fSjB1'4 1411 Chestnut Street IMfSB Ucmbers New Yerk and 1'hlludslphu swV. ' fleck lCxchangea laaaa t v-i ifiiiif3MiM.fiy uw. s.frce l mw?i?- ilii.iii.im xr... -.t. I CALL LOAN RATE DROPS TO 3 1-2 P. C. B.i tn 400 700 tee S00 3000 400 2700 400 tee 1000 200 1000 00 M0 200 2.100 800 300 aoe 000 100 2000 700 100 2110 700 1400 1S0O 100 1000 11.100 000 000 3000 400 300 tee tee 2400 100 200 300 100 400 AOO 100 100 1100 200 8000 100 1000 2000 aoe 800 .100 100 2200 100 800 800 tee 200 100 1100 100 lflOO 1200 100 700 S0O 700 0200 900 100 700 100 800 1000 40 00 7000 603 400 1300 400 200 700 100 100 700 2S00 1000 GOO AOO 1C0 7000 4000 4200 400 2100 4400 3300 1600 3J0 4300 AOO 8 JO 0400 1230 2000 8300 100 100 1400 100 2S700 600 800 7900 200 300 300 200 101) 200 A)0 1400 300 1300 390 100 200 AOO 2700 1200 100 600 BOO 200 200 AOO 700 330 400 5800 330 700 100 1100 400 2000 100 0300 3000 1000 100 000 2000 100 2000 Relaxation Precipitated Short Cevering, but Failed te Stim ulate Fresh Interest New Yerk, .Tan. 0. Trading was very :ulet during the greater part of today's r".ien in the stock market. The main edy of stocks moved llstlevly within i narrow area, showing complete indlf mice te the variable movement of a selected Issues. It was distinctly . trading alTnlr with inconsequential t price changes, nnd carried virtually siRtiillcnnce ether than reflecting the Ijustment of the professional contin ent. In lew of the manufactured nature '!' yesterday's late reactionary move ment nnd the fllmy foundation upon hleh It was built It was net suprislni little MMiiblnnee of the "smash-up should be found when Wall Street re sumed business this morning. As n revision of the market's technical posi tion had been anticipated for some time the backset was net surprising, but it was the consensus of opinion of the bet ter Informed observers that if the reac tlnnurr partj had n hotter ammiinltier. than the excuses employed thus far there was net much danger of the reversal of the market trend reaching serious pro portions. That little or no attention is being paid te outside developments, especially if they are of constructive character, was demonstrated conclusively in the complete indifferences paid te the adop tion of the ban of submarines by the five Powers at the Arms Conference. It strengthened the foreign exchanges, with all the leading Kuropean rates showing a firm tone, but. nobody seemed te have even heard It In the market community. There wns continued pressure en General Asphalt at the opening, which continued throughout the first hour, forcing the stock down mere than a point. yeme et the recent over ever exploited peel Issues also showed heavi ness, an did St. Paul, but the rest of I the list gave ground, stubbornly itull- . outing very little actual selling pres sure. ' Further relaxation of money rates supplied a strong bulwark te the general market, nnd later In the morning pre-' cipitntcd urgent covering of short con- ' tracts. Call leans opened and renewed ' into next week nt -J'j per cent, but the large supplies seen forced the rate down i te JI... per tvnt, or H per cent under I the low rate touched en Monday, and which up te that time was the mini- . mum rate since last November and, except for one day's quotation of .'IV-j , per cent nt the end of last Jul, was' the lowest rate reached in five jears. i Oils, shippings and equipments rnl-1 lied 1 te U points, with meters, to baccos, coppers and textiles. Mexican I nnd Pan-American Petroleum, Royal , Dutch. Housten Oil, Mercantile Marine preferred. American International, At lantic (iulf, American and Baldwin Locomotives, Chandler nnl Plerce-Ar row were, most active In the rebound, i Among specialties. National Cleak ami' Suit preferred, Scars-Heebuck, Inter national Paper and Cern Products also, were strong, but rolls showed little1 change. The whole list showed signs of go ing btalc again nt the higher level, de spitH the further reduction In the cull lean rate te 3 per cent and reflecting Indifferent support when the require- . merits of the shorts were filled. In the! early part of the afternoon session the specialties added moderately te previous gains, but the leaders fell back en re- , newed selling of the oils. Prices continued te clip bnck during the remainder of-the afternoon with freer offering of the oils, steel, equip ment and meter shares, but the tone of . the general list was one of increasing! Heaviness. Commodity Markets QRAIN MARKET Chicago, Jan. 0. The wheat mar ket was extremely narrow today. The tart was lower under local pressur. ' inspired by luck of business. Kxpert demand was flat nnd bids were .'ic out f line. Seme wheat wns resold nt .'Ic under replacement cost. The Oklahoma report wns bullish. Cash wheat pre. n.iums were firm. Shipping sales were TiOOO bushels. Cash wheat at outside ii itrketn was generally higher. Steadiness In corn was due te lack f pressure and removal of hedges by eush interests en corn lil te Knstern ' importers, the total bring lilO.OOO bush-1 els. Demestic shipping demand was light, with sales of 10,XX) bushels re- ' rxrtcd. Receipt were smaller. Offer-, ings te arrive were light. ' Oats were dull and followed ether' grains. locals sold early, but short covering caused a later bulge. Demestic shipping demand was peer. Wheat M.iy .'u y . . . . i.errf May July . . . Oats May J J v . . . . Perk January .. I.aPl Unuiry "J Klbs ir.uirv . . vliy Opn 1 11 1 01 14 .asm .:. .3S' .3s', Hlsh Lew i'Iesu 111 111 1 Qui, 1.0JS w, ..13; Mi, 3S is', .3HVA .Ji 3S 3.09 15.07 S 70 R 75 1 10 f.12 7 S7 S.OO ii 00 t.12'4 1.0 54', 331, 2U, ,13.00 15. e: B.70 0.10 R.77 0 lu 6.03 t) 05 COTTON MARKET New Yerk, Jan. 0. The cotton mar Rft opened quiet this morning nnd ir rtgular. March being 3 points higher . ml ether months J te 1 points lower. N'cw Orleans, Liverpool and local eum's were sellers, while spot concerns i ought. Only t j netu-es were issued. The het failed te rully after the start et record J'rr,1111';:1 .ml roiiitniien firm- reported little jj'ftrr1" .! .11.U..I1. !tiln,... fit. tl,j. K.tll ul.ln . 7 The e..rl afternoon market Vallle,! arS5" .J,'" " b.". llf'I'Jl 'it mere optimistic cable adviecH from 2leei -t rnmrd u-n-mtwr al I l-Uerpoel leiriirdinB the position of, Companion BwJfl Inwrnsiienal. dMdena MnncUter. th- bullish tlgures en the ! .& "AbVuliy "3l ?" 5S " veek's spinner taklnics, and a dispe-1 Jscer.'i Jnur,r H Hltlen te reduce short lines The under-; auArlC.rR mmenCTaPya,t.U , tone remained nervous, however, and &"JPttry jr tB suck et record Jaiwary 24. there wan comparatively little buying ntn-11 Transport una Tradlnj Company. ...- i . . ' . L.I, ...,. im.rln.1 shares, nayab le Jan-I KxiMrtb were M....0 bales, lneludlnc uafJ, V. i)0dy .orperatlon. quarterly IS.B0 7377 ba'en te Franre, und 0202 bnlef 1 . nnv.r. ani ,173 en pijfurred. both te the Continent. The total for the pajabl. Kebrua.y 1 te stock of rcrer.l Jun- f-enfen hai hwn 3.002,100 bales, com uary pared with 2,554,318 billet, for the cur cur rexpendlng period last season. Ycst Tedny's cle oe-n jurn 1S.42 IS H 17 R 17 as u.ae 1.CW IS. 00 17 IIS 17.10 17.00 1G.33 Jan IS 43 Match H 31 May 17 Ju.y 17.32 ItiO IK .12 17 S3 17 2M uci J" IC I, Spot ii 03'. NEW YORK COFFEE MARKET Or"n Hllfh Iw Clese Ves. rleie Jar.. K. I. . . .lurch Mil , Ma . "6 Ul e'Biy.3 h'32Tl33 s'22'123 s'ia t SI 1S.M) S HH V s 42 S 4S S 3(1 S SI) 8.20 S 2J S.22 S 22 H 22 X 22 S.22 MS S IS S'40 h 41 S.S3 1S.H4 ? 53 S. 17. MO tS.43 H JUUIO ts.au S.30.T40 th ti tM ,111 S.32 S 22 23 I H J 1 y ur st. net V'."j 8 im ii in . 18.3'J Cuban, u.u tNeinlnal. :Tride at far Cleveneed Teledo. O., J- n 0.- -"Mevrieel I'r me aeh, SHi January. 118.75; February M.I. '" March, 113 TOi April, 112.7.1, Alalk 1'rime, enan. . , February and' March, III. 00- Tlmet BKJLjIS 1'H1M1IIPIIIHI& XUtT 1UIII I '.. -..... ,, ii, .....!. .. .i 'Zl. ' lu.... II. fllllif UUmOA IV. 1 I1A lOCai T-I U ITAItUe AU tr ..IIKH c Wt WMl wni, v USf.f r I '"''.""":.""1V. ""?! "'".arcn, I ""?" ";.'",' ,7 .,ni.rD '. iin.iV 4 llllc. rranci 20 nnt mif. The de ar was auoteU cent, uncnunt wi eran Wufc , Dap WrX: ?AWe.VTir.m-,c.,'V Y it 12 Xranc. Hi centimes. ntl three nm.V'.' Percent.' 'chlcaVe. M 4 :Hf '"'"'"""V Pfme. caeb 13.201 Jarii rlned markst l urjCJianBeq at ,. te i, VX. M-tHi flffcn. V.J0. "leji.2(H(.r jenter ch. '' " t mmmmT''m'mwmwmu,mwmmmmi1 ' fwTi'ff -- .iff n rrt fvv ,r. ".-.- . is i m -sl --.--,- tti.i. i 11 NEW YORK STOCK EXCHANGE TRANSACTIONS 1 ' Dlv. In $ Hlirh . . Adams Express 48 JO .. AJex Rubber 10? Alaska Geld M'nes... 9i . . Alaska Junea O M.. H 4 Allied Chem ft Dye, .. H 7 Allied Oicm A Dye. pflOJtf 4 Allls-Chalmers S1 . . Am ArtIe Chem 30 Ji 3 Am Bank Nete pf . . . . 1& . Am Deet Sugar 3AU . . Am notch Magneto.. 3ty .. Am Can 33) Am Can pf Hi 12 Am Car & Fdy 148 7 Am Car Fdy pf....ll .. Am Cotten Oil tti .. Am Cotten Oil pf 4.1 7 Am Express 120J5 . . Am Hide Leather pf 7 Am Ice 80 0 Am Ice pf 72t ., Am Intcm.it Cerp. .. . 39?t . . Am LlnSeed 30 7 Am Li'nseed pf A0 0 Am Locomotive 1041J .. Am Safety Itazer 4i . . Am Ship & Cem !Jt . Am Smell 4 Hi 7 Am Smelt pf 8H 3 Am Steel Foundries.. 32U . Am Sugar Ref A0H 7 Am Sugar Itef pf . . . . 88 .. Am Sumatra 344 0 Am Tel & Tel UAH 12 Am Tobacco 130H 12 Am Tobncce n 126V4 0 Am Tobacco pf new.. 07(4 0 Am Wnterwks 0 pf. 18 K 7 Am Woolen 70J4 .. Am Zinc Lead & Smelt 13 . . Anaconda Copper .... 4SI5 4 Asse Dry Goods 4354 0 Asse Dry Goods 1st pf 7A 0 Atch Tep & Santa Fc. 92i 8 Atch Tep & H F pf. .. SO . . Atlanta Rlr & Atlnntlc ? .. Atlantic Fruit 2VS .. Atl Gulf & W I S S.. 30J4 7 Atl Refining pf 115 7 Unldwln Locemotlvo OflJ'i 7 Baldwin Loce pf 104 .. Unit mere & Ohie .... 341$ u Bethlehem Steel B .. littVt 8 Brooklyn Tdlsen . . . . 1 00 J-J Brkhti Rapid Transit TH Ilrklvn R T ctfs of dep 0 10 Burns Bres 117 .. Burns Bres B (wl) . . . 3154 7 Bush Term pf 88 .. Butte Copper ft Zlne. 3 .. Butte tc Superior Cep. 2t . . Butterlck 30 .. Cadde Central O & n 10H 0 California Packing ... 69 54 . . California Petroleum . 46H .. Cal Zinc & Lead A1 10 Canadian Pacific ....1105, .. Carsen Hill Mining. .. 12H 7 Case J I 1st pf 7054 .. Central Leather 30J, .. Central Leather pf. .. 04 . Cerre-de-Pasco 3354 0 Chandler Meters .... 49 4 Chesapeake & Ohie... Si .. Chicago ft Alten A .. Chi & n 111 new '. 14 V2 . Chi & Kill new pf 33(4 . . Chicago & Gt West. . . H .. Chi & Gr West pf 1A, .. Chi Mil & St P 18 .. Chi Mil & St P pf 3tH fl Chi & Northwestern.. 0354 7 Ch' & Northwest pf. ..102 .. Chi R I & Pac 31 H 6 Chi R I & Pac 67e pf. 71 .. Chile Copper 13Je .. Chlne Copper 2BH . . Clev Cln Chi & St L. . A5 4 Coca-Cela 42Ji . . Colerado Fuel &. Iren 23 0 Celum Gas & Kkc... 07 . . Celum Grnpliophene . . 24 4 C'emput Tab R.cerds. 571.J 7 Consolidated Gas .... 90? .. Consolidated Textiles. 14 8 Cern Products Ref... 934 I.BO Ceaden ft Ce 33H 4 Cruclble Steel 04 7 Cruclble Steel pf 8JJ4 .. Cuban Am Sugur ... 1!4 .. Cuban Cane Sugar... 0 5j .. Cuban Cane Sugar pf. 17 54 4 Dav son Chemical ... 81 H 6 Del Lack & Western. . 114 t Dome Mines 20J,i . . Kmereen-Brantlns ... 3 8 End.cott-Jehnaon .... 77 .. Erie 1054 .. Erie iBt pf 14 . Krle 2d pf 10 8 Famous Players L .. '6i 8 Famous Plaers L pf. 93 5i 7 Fisher Bedy pf 100 .. FIsk Rubber 12 Ji . . Freeport Texas 13 .. General Asphalt Aslj 8 General Asphalt pf... 92 8 General Klectrle lis 54 . ... General Meters ST4 6 Gen Meters pf 7254 6 Gen Mters deb 6 "... 72 7 Gen Meters deb 7e . . . 3'j .. Coedr.ch B F 33, 7 Goedrich B F pf. ... 82 .. Gray Daws 15'i 4 Great North Ore ctfs. 31 7 Great Northern pf.... 72 .. Greene Cananea Cep. . 2fl'4 ., Guantanamo Sugar .. e; .. Gulf State Steel 4 .. Gulf Mobile & Ner.... 6 .. Hablrsh-iw HI Cable.. 1 4 Haskell & Barker C.ir 77 v, .. Housten Oil 73'.j .. Hupp Motorcar 1154 7 Illinois Central 9H .. Indian Refining OJj .. Insp ration Cen Cep.. 3S?i . . Interb Cen Cerp .... 1 i .. Interb Cen Cerp pf . . 1 .. Internat Agrlcul .... 7S . Int Agrl.-ul Cerp pf... 33 yt B Int Harvester ne7 ... si . . Int Mer Marine 14;, 0 Int Mer Marine pf t'H ., Intt mat Motertruck . 28 7 Int Motertruck 1st pf 7054 7 Int Motertruck 2d pr. Al . international Mck I 114 0 Internat Nickel pf.. . i'5'4 . international Paper A01.4 8 Inter Paper pf atpil . , C9J4 . . .Inv.nclble Oil Cerp . 11 .. Inland Oil 2H .. Kansas City .Southern 215J 4 Kansas City Se pf A4 ,. Kansas ft Gulf 7 . . Kelly Spring Tire . . 30?, 0 Kelly-Spg Tire Ce pf 72?4 . . Kennccett Copper . . . t 2H Today's Net Clese Chse. 4054 H '' 18 102 3SK H e? 54 3154 VA 3Ai4 J4 3554 83 n 91 143 1 1154 J's l54- l 4154- Vi 12954 AS 54- Ui 80 ? 72J4 H 3S 155 29H : Lew 49 18 !4 H H te 101 S8 3054 3154 34 34 32 J4 94 142 ll54 1954 4154 129U A8J4 7 724 3854 29H 86 10354 w OH 43?4 8854 3t 8754 87 4 33 H 11s 129 J4 12054 0754 18 W 7854 13 48 4354 75 0254 8A4 ; 2'j 29 H 111 93J4 104 34 J4 50 H 10054 7 54 A 14 117 31 88 A 20 i 30 1054 00 5', "54 119 54 11 70 54 30 035 32J4 48K 54U A 141. 3354 80 10455 4-f 654 43H 854-31-CS -8854 -r 33 HSJ4 12954 128 54" 871i 18 4- 7RM- 13 - 4M4 4354 73 - 9754 f 80 V,i V 30?j 11 4- H 044 ? 101 34H V sr.yt 10054 7 T 6 117 r.in-f 88 ; A f 10 0954 4 454x 8- 11954 1254 f 70 14 ; 3 54 r 64 33s -4 4- 84 -A 14V4 4- 3.154 . 0 1AV44- 17H- 31 5T "Je 144 1754 3054 67 J4 1014 31 H 704 IA54 2CI4 AA 4154 2154 B4J, 2 5a 67 9054 14 0254 3254 84 1T4 s lflH 5014 113U te4 3 5014 i 1454 r 7554 0354 100 11 1:1 6 01 13754 8 ',4 72 54 70 8315 UA14 82 12 31 714 2054 8 45 6 1 70 7154 104 08 0 38 J4 154 34 7H 34 8014 1354 04 2A54 70 34 1154 4954 004 1354 '-'54 22 54 A4 0 354 7i, 2H 02(4 -102 31 71 1A54 4 20 4- AA 4154- 245,- 66 4 254- 4754 !-9054- 14 4- 03 ! 324- 04 -84 -14- 9 1 10 4 5154 4- ll.15a 20 3 "-I414-10 -70 4. 0554 4- 106 - 12 13 - 57 - 91 - 137 54- 14 NT, 4. 14 72544- 154 72 4 154 83(4 4- 14 38 -f- 54 82 154-31- 7154 264 4- 8-48- 6 4 1 "54 4 72 4 1154 4 08 - -3b 14 Mi 34 4- ?i 34 - 804 144 4- ee-. 2Ai- 1 70 -64 - 1154- 02k5 4- x 604 -II 4 34 4 2254 4 A4 - 7 38 -r 72 4- H- Total sales. 570.100 shares, compared with834,700 shares I DIVIDENDS DECLARED PhllsdelphlR Cemrney. quartsr'y h vvr , cent en common j.njaLle January 31 te stock Tnn American Chicle Company ha ever Hl.OO.i.liO cash en hand nnd In Imnk has within the last few months tmld off 3)0 000 commercial impir and f.ioe.ono serial notes, and has extended ita bunk leans until late this yeur. llle Junuarv 11 'e tioek ....A.... Tuniuri 1 I' Durlne December. lll.'.r2tl cars of 80S last year. Lecal buslnenn deer, ased l'u per tent te 03.44U. Ornham, Parseni & re. announced that Allerr Hunter Jr . und Jeseph w Dixen have been admitted te membership in the firm. Corporate financing- wai unuaually larne in December. 1B21. pnrtlcularlv Issues te 21. obtain new money, Total of railroad Reeerve Banks Pay Franchise Tax trial isau, a win aieii.iiu"! i'liu. mall.st 2UH -282 07i In December. 1H2U. The un.iual nmeunt of flnantini; vmih due te the dis turbed condition In the sugar industry, which required many companies te obtain l,ew money te tide ever period of adcr Hy caused by the great drop In the price in 1021, Equipment for Seabeard-Day Line Washington. Jan 0. The Seal.Mrd.llay f.lne. u subsidiary corporation of the Bea beard Air Mne Itnllread, applied today te the Intorstnte Commerce Commission for a lean "f M.07H.M3 for the puriinre of pur chaslnir new rallrend relllna- utenk The ap- ?llnvtlen said Hint Hie amount doslred would urnlsh Heabeard Air I. Inn with Jwetuy-nve locemutlvea, 120 freight cars nnd ether items The security fur ths lean, the ap plication said, would be the equipment pur chased with It and the steumihln properties of the llalttmere Hteam Packet Corpe-atlcn, which also are associated with the railroad In Question , I After cleslnir their books en December 31. ,m'2"s- and payln th. uicrue.l semi annual dlvl 52,'i2?',,dfncl the Federal lleserve Innks paid te SlTPIhL?h. beVernment iv total of I1S.U74.000 of rranrhliw taxes and lnrrensf.1 their KUrpius t 11.009.000 te J2I3.3J3.000, which con stitutes 104.3 per .ent 0 the banks' total subscribed capital reported at the 'r,?,nn!5 of ins year At the rlune of 1020 the i. ...... l,rW mM the Qevernment a total nt Kill 725. uOO of fr-nihliie taxei and In ?r.ad their surplus by J37 391.000. te 1202.. ".?.. :- k.An .. .- .tli.it. .1 inl r.ur cent of banks' subscribed capital. Oeld ressrv.s show a record h gh total of 12.870. 12.870. 12.870. aiioeoo en January 4. 11(22. an incrsass of J.t 7on.iSie for the k un.1 of I7B5,0CK), OKU since January 7j1021. Raw Sugar Market Quiet New Yerk, Jan fl The raw suear mar, ... 1. ,il.t iml without material chanue for January shipment, are quetid 1'tC te 1 2U-B2C, cost and frelaht. .vnd February snipmeni at 1 !c. enst nu freight The er.ly sale yesterday wnn a let of anne bar" Pertu llicej for shipment second hnlf of January et .1 nSc c I f . te nn operator Arrlval.1 of rawa Included itfl 000 baits Cubas consluned te the Warner u..',u. u.ilnliiir Company. The local r- Prices Heavy I'nrls, Jan fl Prices were rather heavy en the lleurae today. Truro per cent rentes. 34 francs 3 ccntlm at exchange nil Uindin, ... ...... a,, . ,.... R ..... ..... ..... mi t 13 Xrnc Hi Dlv. Ralrs In i iiuii Lew .:k 12 28 26 7 H 9 14754 107 33 38 32 21 23)4 103 10BJ4 20 1254 2954 1 7 255 A 18 H 10054 30 12A54 70 m 33 108 354 80 14 724 82 72 62 30 12 965 444 38 75J4 255 454 12 9 4154 255 64. 12 44 49 44 1254 3354 P!4 00 19 A05 314 90 30 1354 31 10 09 24 54 145 63 9254 25 V4 67 10354 3' 54 3554 B854 2154 14 V, 7154 40 24 41 754 49 , 20 32 Ji 1254 2 62 54 92 21 8 5J 3? 54 1954 72 46 785 174 46 824 171 lit 77 24 54 36 79 34 654 9?4 42 31 23 3914 15 01 9 'Ji 12554 72 71 12155 754 20 60 54 17 9 37 505 624 9955 82 114 61 54 le4 30 28 80 54 54 "Ji 20 1-8 54 e 144 61 91 4954 05 .0 0A54 '54 14 54 fill 2755 137 8 Q3600 600 600 200 100 400 3000 400 300 100 100 800 400 1700 100 1000 100 26000 1A0O .. Keystone TAR .... 17J4 0 Kresge S 3 Ill .. Lackawanna Stwl ... 45J4 . . Lake Erle ft West. ... 12 . . Lake Erle & West pf . 254 2 Lee Rubber Tire .... 2754 3. BO Lehigh Valley AS 54 .. Leewe Ce 12 1 I-oft Candy 6 12 Lellard Tobacco ....174 54 7 Louisville A Nashville 108 54 .. Manatl Sugar 334 T Manhattan Elev guar. 3A54 .. Marlln Oil 2A Martin, Tarry 21 Math Alkali 2454 8 May Dcpt Stores 103 12 Mexican Petroleum ..U054 9 Mtnml -...... 49 3600 i.2e Mddle Stntcs Cerp!'.'. 124 0200 .. MMt-nln nw,i sftii 21800 3.113 10800 1100 AOO 000 100 100 100 609 100 100 801 100 100 100 400 1300 200 100 23 100 4000 300 2000 200 2100 900 1000 400 100 100 AOO 100 100 8000 0800 2900 300 1400 600 400 700 400 AOO 100 300 1200 700 1200 100 000 100 100 103 000 103 A31 4100 1100 AOO Me Kansas & Texas. . 54 Me Kan ft Texas pf.. 2 l 'X me Knn ft Tex (wl).. 854 Me Kan ft T (wl) pf. 244 Minn ft St Leuis A54 254 H ' .. Missouri Pacllle 18 .. Me-Pnclfic pf 44 7 Mentnna Tower pf...l00J4 .. Mulllna Bedy 20 7 Natlennl Biscuit ....1264 7 Nat Cleak A Suit pf,. 70 . . Natlennl Cen ft Cable. iVt n Nat Enam ft 8t 31 7 National Lead pf 108 .. Nnt R It of Mex 2d pf 3'4 N y Air Brake 00 .. Ney con Copper 14 54 8 New Yerk Central... 73 C New Yerk C & St L. . 62 6 N Y Chi & St L 1st pf 72 N Y Chi ft St L 2d pf. 02 2.80 .New Yerk Deck 30 .. New Yerk N II ft II.. 134 7 Norfolk ft Western... 604 8 North American ctfa.. 4A54 8 N American pf ctfs.. 38 7 Northern Tnclflc .... 76. .. Okln Pred A Rr-f ' .. Ontario Silver Mining 455 .. Orpheum Circuit .... 1254 Otis Steel 0 Otl3 Steel pf 4154 .2 Owens Bottling 23 Pacific Gns ft Elpc. ... 64 .. Pacific Mall 12 3 Tactile Oil 43 0 Tnn-Amcr Tctrel .... 81 , 6 Pan-Amer B 46 .. Parish & Bingham... 1354 2 Pennsylvania R R 33 .. Tenn Srabenrd Steel. 054 8 Peeples Gas Chicago. 01 54 .. Tere Marquette 20 , 8 Pere Marquette pf . . . 61 3 Philadelphia Ce 32 .. Phllllps-Jenes 90 .60 Phillips pet 30 .. Plerco-Arrew Moter .. 14 .. Tierce-Arrew Met pf.. 31 .. Plerce Oil 104 8 Tierce Oil pf 69 Tltts ft West Vn 21 1.6U Pend Creek Ceal 14 54 . . Tressed Steel Car. ... 63 7 Prersed Steel Car pf. 9214 .. Producers Refiners .. 2054 4 Tub Service of N J.. 67 8 Pullman 106 .. Punta Alegre Sunar. . 3355 2 Pure Oil 3A4 54 54 ' 'j. 5i v, 1 I !e I 54, I "l e iwiun-ny steel Spring. 96 0 3.41 Rand MlneH. . . Jinna .MineH 27 uuu 2700 230 100 OI'O 500 1100 300 . Ray Cen Copper 14 4 Reading 7254 2 Rending 2d pf 47 . Remington Tvnewrltnr 24 54 j V! Ji, 1 !i, 4 H ' 54 a- 54 154 !s Republic Iren A Steel. 82 Republic Meters 7?s Royal Dutch NY... S0J4 St Leu's San Frann. . 21 8.20 400 200 400 no 200 2200 .100 670 4200 100 600 3100 900 1300 2200 400 1100 100 400 900 22100 800 900 900 9400 2400 2300 9200 1700 700 12300 1800 000 700 100 300 100 100 3300 St LeuIb Southwest pf 33 . . Savage Arms 12 . . Saxen Moter . . Sears-Roebuck 7 Senrs-Recbuck pf .... . . Seneca Cep Cerp . . Shattuck Arizona Cerp 74 Shell Transport .. Sinclair Oil 7 Slesa-Sheffleld pf ... . . Se Perte Rice Sugar. . 0 Southern Taenia 2 rai,4 92 21 8 374 19 72 47 78 .. Southern Rull 18 54 .. Southern Railway pf., 404 4 Standard Oil of Cal.. 93J4 8 Standard Oil of N J.. 172 7 Stand Oil of N J pf. .114 7 Steel Tube pf 77 2 Stewart Warner Speed 2454 .. Stromberg Carb 3754 7 Studebaker 81 54 .. Submarlne Beat Cerp. 454 54 54 1 .. oupener ui corp . .. Tenn Cep & Chem.. 3 Texaa Ce .. .Texas ft Taclfic ... 1 Texas ft Tac C ft O 60 Texas G Sul .. Third Ave 0 Tobacco Products . . . Transcen Oil .. Union Oil 10 Union Taclfic Ii 54 10 43 25 24 40 164 6255 10 1854 12A 7255 Jt 12254 1 Lnlen Pacific pf . . . . , . United rrug 8 United Fruit . . United Rwy Invest.. ' ! 54 54 !, 1 -.! 54 54 1 Yt . . United Rwy Invest pf 20 u unueu iiemii. stores. . A2 1011 1.1311 3230 1100 2400 1)0 11709 200 1400 AOO 1330 300 100 800 1110 200 . . U S C I P ft Fdy.. ..US Feed Products. ..US Ind Alcohol... ..US Realty ft Imp. ..US Rubber K V S Rubber 1st pf . . 0 L" S Steel 7 U S Hticl pf 2 Utah Copper . 17 ?4 . 38 . 47 . A3 . 54 . 83 .118 . 03 . 11 Va 'a i . . Utah Sea .. Vanadium Cerj . . Va-Car Chemical . . . 6 Va Iren Ceal ft Coke . . V.vndeu Inc . . Wabash Wabash pf A 28 88 54 0 04 H 20 100 2.30 Wells Fare Express!. C854 e 1 1 94 '4 U !' 'n !4 54 1 li A'lO Western Maryland "J, 16 61 01 60 490 100 103 1611) 100 100 8100 400 800 700 200 100 100 . . Western Pacllle 0 Western Pacific pf,,, 7 Western Union Tel... t Westlnuheuse K A M. 4 Weatlnif E & M lut pf 08 . Wheeling ft L fcj 0 4 White Moter 304 .. White O 1 Cerp 054 .. Wlek Spenc Steel Cerp 1AJ4 .. Will)s. Overland A14 .. Wilsen & Ce 27k H Woolworth F W la7 .25 WrlRht Aero a 154 54 Kv-illv IJ.TllI Thus fur uiliAeek, 3.1M.100 shares ytaterriay. LONDON STOCK MARKET Rebuylng Stiffened Gilt-Edged List. Industrial- Cheerful Londen, Jan. 0. Heme rails had Reed Mippert. Itubber chorea were neg lecte.1 nnd drooped. The feeling with regard te Bome induhtrial italics wns cheerful. Hudsen's liny wus 5. He buyiiiB Ntlffened the Kllt-edced list Irencli lejins wcte quiet and Unni-' tered. , (Jenerally, the markets were list less, with ninny brokers nb&ent for ever thu week-end. Financial Briefs Ilecle Island lurdleil revenue freight nL'.ln.t 111 of whl.h there were 18H, public utility and Indus RAILROAD EARNINGS KANSAS CITV HUt'TIIKHN IU21 Neember gross . . . tl.ltT0.OilS Net eper Income. 233, HSS Twelve months' urens 20,21.1.823 Net eper. Income.. 4.UI3,lii)3 'Decrease. BAR 8ILVER Demestic a'lver waa uncnange.i In n.w Yerk today rtt 00 He per fine eui.xei ferelJn 04'sc, a kuIti of He. In lnden, the price m KJ higher at 341. .1. VTI" MONEY-LENDING RATES NEW YOUK Call money eak, nigh 4V4 1 low. 814 .ruling rate. 4V, , eles n Lid 3; ettered at SH 1 last lean, ,T4 . ' Time funds declined in a ne.u A... ..... at -... . . '. - - " .. - per cent en naif and cent en ineusiriais, rer three te en Paris Bourse 1'IIII.AnRLI'lllA Cl . n'.S On per cent, time, nW OO per cent, commercial pan?!' three te six menthB, BW0 p,r cent ' I,OMeN. Meney "?".! f. .T"L'i.""7.vr XT...r,.i""V.,..S."! '...."- nY.Vi,mi r ei. BhSri" 1,11 cntun3. tcnti ,thre JnentUl(JbU a i-l If LOCAL DEAUNGS AGAINRESTRICTED Rumors of Passing of Asphalt Proferred Dividend Absurd Nen the Surface Today'! Net Clese Chre. 16 110544- M 4 54 12 28 J4 .. 20- H AS - 54 12- 54 1474 - 3 107- 3354- M 34 - '54 22- .454 21 54 2.155- J 103 - 1 f014- 55 3654- H 12- V 2954- H H 1 .. 8 f 54 2355- 8-55 18 4- 54 44- 54 10954- J4 20-54 120554- 1 701 154 55 33- 55 10s 354 . 60-3 14 .. 73 62 721 02 J4 30 54 1354 r 0854 .. 44 3H 55 7514 - 254- 54 455 55 n- 5i 9 54 41U- 1 2555- 55 04 54 12 4 A 54 55 A055 45 - 1254 - 55 33 .. 5'4- Yt 01 - 54 19 - 54 4054 - J4 314- 54 90 30 54 1355 H 311 10 .. 09- 54 2455 .. 1455 .. 03 -' 54 0254 1 76 55 07 55 105 .. 324 5-4 I 35 .. 00 f 1 22 2 HK 54 72 47 21 - 155 A2J4 .. 7 ' A0 155 I 21 54 324 - 54 ' 12 H, 2 .. 0255 54 02 1 1 21 U- , 855 374 -r 54 ! l'H 54, 722 46,,, . . 18, ;- 14 40 55- ?4 03 171 1 "4 M 77 - 54 2454- Ji 374 4- 2 8054 3Ja S 54 04 . . it -. ' 2 H 54 ' 2 54 1 e 54 1 l I- 155 61- J 105 ( 55 I8 55 123(5 72 71 12254 155 20- 5i H4 i 094-"54 3755 504 - 54 83 .j 0055 4- 14 .82' t yt 115 J. y 015 J4 1! - y 31 y, 28 54 :- 54 ,- i 54 20 . C814- 1 ' 4- 10 - l4 J?4- 54 91 - 115 50 65 14 - 54 3454- ?s r 54 "54- 55 27 - I 137 8 Denltnga In flic local mnrkct were of Kmnll dimensions nnil the shiKl"'' cnar" ncter of the trndliifc still showed the fffects of the rcstrnlnlnjr Influence of the cenftiPlng nnd conflicting gyrations of the NW Yerk market pince the opening of the .'ew Ycnr. What little wnt done wns mere In n nnturc of the familiar fraction Rcalping by the room traders nnd seml-professlennl operater''. The Philadelphia Klcctrlc Issues nnd Pennsylvania Itnllread supplied the only activity, nnd this was en n greatly modified scale, lleth the Philadelphia Klcctrlc Issue were firm but unchanged. Pennsylvania had a spread of only vi point between 33 nnd 33. With the scinl-efucinl aHturnncc rff the mainte nance of the 4 per cent dividend rate there Is much better feeling toward the stock, mere particularly with the evi dence of the completion of the selling movement. Trading In the balnnce of the local stocks wns narrow, but the greater pnrt of the Iftt wns firm. U. (J. I. declined i en odd let sales, while the preferred gained n similar fraction en Mnnll dealings. PhUndc'phla Ilawlil Transit held nt I8V4, but Philadelphia Traction wns tip 11 point from the pre vious talc nt ). Pew shnres of lini'in Traction were taken nt 34. Ameri can Stores held nt 87 nnd West JerM- nnd Seashore was up nt 28. Yesterday's rumors concerning the possible passing et the General Asphalt preferred dividend came In for wide spread discussion. On the surface the story wns n little short of nbstird when It is recnlled the dividend en the pre ferred has Just been paid nnd the con sideration of the next one Is net te be until some time In Mnrch. While It is known the sales of the company fell oft materially Inst ycnr the Mirlnkngc, however, is net believed te hnve been ie ttrent ns te wnrrnnt suspension of divi dends en the preferred stock. It re quires less than !).",000 te make the quarterly distribution. Surmising the company nheuld find It ueces'-nry even te borrow the fundi te pay the next dividend. It hardly seems probable that at 11 n Interest cost, of lesc than SmU0. the mnnngeincnt would lower the credit of the company nnd leirn the market value of the preferred Issue; mere espe cially when its appreciated that ml- tinns which confronted its operation. eperation. operatien. Inst year can be but temierary. J Philadelphia Stocks Net chc. ltlrh Lew lOtAllls-Chftl 38 38 133 Am Stores 87 S7 20 Am Cas. . 4!) 411 10 Am Ity pf 21 21 fiOtHald loco 04 01 10 IJuf&S t c C09 3S 87 41) 24 -r4 pret .... 48 18 4R 10 Klec Ster.12214 122Vi 12'J4 V, lOOtRrle r l)!i K ICOtCJcn Met. fll ON A.. KV.4. L 32 32 08 Vh 20-V8. 34 i 45 48 Vi 33 70 r.e 30 23 27 18 Vi Dl) 13 1 IS 34 W 7r' MO 12.") I.nke Supe Ifi U-h Nev.. 08A 41l.. 08 . 21 4 43 Vi I8Vj V, 70 V, ram . . lOOt.Midvele.. tiOtXul Knnm l()0t Pac Oil.. 1.- 41 Penn Cent Light pf 481J U.H i'a It 11.. H.l in Pa Salt M 30 Ph Ins W. M Phlln Ce cum pf.. 18Ti Phlln Hie.; 843 de pref.. .'WO P It T. . . 38 Phil Trac. 100tPlerce-Ar lOOtllendlnc lbt pf... 230 Ten Pel.. intUnien Oil 70 TiOVi 30 24 27 VI 14 r.i) 138 Il'l ll'tf 30 Sir. 18l,i.. no 1 13 441,4 . . 1 18 34- 7.. Va IS BOUn Trac. 34V. lOOtPn lly Inv 7 000 Unl Hetull f'nndy... "1 2D8U HI.,., 3b Ml." de pref.. fil 117 WJer A: S 28 8SW 51 2S 381. 51 as Net chsnue mads by comparison with last aln en New Yerk titeck KxchuDse. Telnl Hftlpx. 5331 shores, ramparrj with Slirj KhHfrt vatcrday. Thus far this wk 23,713 (.h.irc. l'HlUUIKU'IIIA IIHMIS 25000 Liberty 2.1 4 Vis '42: . . . 25(HM) Liberty 2d 4is '42.... 5000 Liberty 2d 44s '42.... 3000 Liberty 3d 44s '28 5IKM) Liberty 3d 4'4s '-'.. . KHK) Liberty 3d 4 Vis '28... 1000 Liberty 3d 4Vis 28. . . 50000 Liberty 4th 4Vis '38... 11000 Liberty 4th 4,Js '38... 00.04 00.70 90.70 07.8(1 1)7.74 07.82 07.70 07.10 07.30 000 Victory 4')1h '23 lets 111). DO 4IHI0 Victory ,' 4')S ,s '23. 100.00 lUUU(K) victory 4-'. '23....1ets.l00.0S '4t MM) letery iH 13 00. OS 100000 Victory 4s '23 100. OS 200 Amer fins & Klcctrlc 5s. 81 1000 Amer &as & Klcctrlc 5s. 8lVi 7000 Cens Trac N .1 5s... .lets 71 MUM) I'iMtple'H I'lihseiiRer 4s... 05 20(H) l'l.ila Klectric 1st 5s. .lets 03 "i 1000 Phlln Klectric 1st 5s.... 1)3 Vj lainm riilln J'.lectric lis. . 5(K) I'hlla Klectric 0s. . 1000 Phlln Klectric 0. . 3000 1'h Iln Klectric 0s.. 1000 .Seaboard 0s , .lets 100 Vi lUl'j ..lets 101 ..lets lOOVi 421,4 2000 rnited Hallways 0s 75 Total. J3S0 100. compared with J82S.n.-iO yestredey. Thus far this week, 11,000,850, FOREIGN EXCHANGE I New Verlt. .Inn, 0. The foreign ox ex change market opened strong, with sterling tin ijj, ; fruncs up 5 und ethers I up from 2 te 7 points from yesterday's final. 1 There was a slightly stronger tone in tint I'.urepean exctinnges in tne earlj afternoon. Sterling cables were 4.20', deiiian.l l.l!lr,N ; franc cables 8.03,(., checks, 8.02'i ; lire cables 4.32, checks 4.31Vii guilder cables 30.70, checks 30.IW, marks ..r.3. The rate of premium in Montreal tedny en New Yerk funds wns b per cent. The rate of discount en Cn Cn nedlan In New Yerk wns G.0-10 per cent. There wns 11 genernl holiday nre- vailing in meht of the Seuth Amerlcun countries today and rates are merely nominal, as bankB there nre rleseil. Uuutittlens were: llrnzll. 12.75; Argcn tine, 33.10: Chile, 10.02. Central Kurepean exchanges were: Austrian, .03 Vi ; Itumanlan, .82; Uul garinn. ,82; Serbian, 1.42; Czeclio Czeclie Czeclio Slevukinn, 1.02; Juge-Slavlnn, .35: (Jreek, 4.38; Polish, 3.fi0; Finnish, 1.00; Hungailun, .IC1);. YESTEIIUAY-S TINAL QUOTATIONS fl.le.r,'ln franca I.tre guilders Pemand 4 ltHs 7.K.I 4.27 afl.Bs Cables 4.1UH 7 0H 4.27W 30.01 . TODAY'S OPUNINO QUOTATIONS SYSTEM Incrsass S33T,nH2 "i-,IIS 103,005 1.700,104 Sterling Kranca Lire Oullders 4.10S S.02 4. SOW 3811? .... 20',. 8.03 .a!" 30.70 CIXISINO QUOTATIONS n rrn n rl I Cables Sterling Demand Cables . 4 III' 4.204 s.e.l 4 Q2W 3.1 r,H 3.03' 4.33 ii.il half, and B .V .. ...IT IUI.HV six months. BANK CLEARING8 Hank clMjInn today compared with cor cer cor respeiiiilna duv last two ytarst Kite. rm-Msa mWm mfl$.M v. "& ..inX' .xrsii'!"" uu.iM.itft Per cent. Chicago, P2,40O,OOy uetaital ........ Time and Opportunity Are Passing BOND PRICES INCREASE The clock has advanced (since August 2, 1921, ad'indica'ted by the dotted hand) and during this peried the average of forty Investment bends appreciated 5.22 points, from which there has been a temporary reaction of 1.30 points. The hour of bend Increases has but begun, for money rates should new decline materially, which the bend market has but in part anticipated. CYCLE OF TRADE General) BendPriccsDec!inc Menet JZettas increase Irespnritu rnitsrrs. x y5)aKiiEft,Kta&1A sJiEmBti wmmKfmais imtfmpM&Srl 9."vJm&WAm2 OiffiP .J.WM& ffim s, mm Real Estate JM, rSf VM Increases tJlKp, HHuSKIjI Cbmmectittaf -MRjiPyj General Increase SBHc1 Depression Stocks Increase T MongffhtfesjDecline Bend Prices Increase Babson's Statistical Organization recently stated: "The Invester of today is looking back with covetous eyes at the high yields obtainable at the low of 1920. Ne less will the investor of tomorrow be looking back en current returns as something that presented a true opportunity for long pull purchases." The low point of these forty investment bends touched en June 30, 1921, was 1.99 point above the 1920 low. The .1921 low was. . , 67.56 which compares with the average en January 3, 1922, of 75.01 and that of July 31, 1914, of 82.78 Bends en July 31, 1914, Were thought te be at panic prices. Harrison. Smith & Ce.. INVESTMENT SECURITIES 121 SOUTH 5TH STREET PHILADELPHIA LOMBARD C100 " !l'"iliffi.' "---3L l' Till, Mr. A. C. Leiintf, President of the Pillsbury Fleur Mills Ce., of Minneapolis, Minnesota, says: "One of the most hopeful signs of the times is the growing interdependence between the bnnka 01 the nation and the people." Gentral National Bank of Philadelphia Chestnut Street at Fifth Capital 1,000,000 Surplus and Undivided Profits Earned T 5-l,bU0,0U0 STATEMENT The National Security Bank Philadelphia, December 31, 1921 RESOURCES Lenns und Discounts United States Bends Bends and Investments Bunking llbusc Due from Bunks Cash nnd Reserve LIABILITIES Capital Surplus and Prelits Due te Federal Reserve Bunk Circulation Dividend Ne. 100, Jan. 3, 1022 Deposits $10,537,816.53 J. HARPER DR1PPS, President GEORGE KESSLER, Vice President WILLIAM H. McKEE, Cashier GEORGE OVINGTON, A.sl.Unt Cashier yilltM"" "HiHiHiiiiiiiiiiiiMmiiiimiiMmmimiiimiimiiiiummTmiik RESERVING BONDS AT CURRENT PRICES With the prospects of easier money, it ia our opinion that bend prices will continue te advance. In order te tnke ndvantoKe of prevailing prices, investors, anticipat ing lunas in the near future, may secure bends through us by the payment of a small deposit at time of purchase, thus insuring te themselves high inceme ut a low cost. We will gladly consult with you along these lines. CepUt of our January Bend Lttttr Stnt upon rtquett. West & Ce. M1 Wnlnut Htrcet .-... 0Wull Str.H I'lilladelplila isi. vn.u u '. ",., w erk I'lilladelphla Nteck Hxchanre rmmillllllllllllllimilllllllllllllllllllilll Ilimiiiiitii mmiM. mull Stocks. Decline Commodities Decline -Jteeal&siuh Declines f3 7,603,127.46 832,350.00 273,569.37 00,000.00 .191,947.97 1,280,831.73 $10,537,816.53 $250,000.00 1.663,628.67 300,000.00 250,000.00 30,000.00 8,054,287.88 J fc 13. . . S. A Ji. . .... ' " 1 V . A .... , . SrOsalalai,.. . . l . IV V . l taBalaBU IL...i,jjfitaataaattMAJALJL' Jfcif.'ii.f. i - '' ';fcV ;t M . - 1' jl.i JlllJtfciJiLllJlitjJlill- iiVAl-X" , I Jl A aappppppppppppppe i - y. . -.i.j
Significant historical Pennsylvania newspapers