:' W. ii'tSiwf IrTOlSr xiwm AW sk;?.s .-sj' UtA SK?a3W T mmmmmM.wmmfmrjm "V ;nv,.. t.BV .." j, , r ?,:, , r.s'A-'Ka.aLtfl'-yM CV' W " ia . EVENING PUBLIC LEDGERr- pftlLADijLPHIA, TUESDAY, FEBBUABY 21, lfife f"F .' J1JV. . - ' - ' - , . . ' l ,j-j -;g;y,r, .ii., j.; s t e sti-" ,'ia rhu a.wi' :' ' Vfcj E'Atf V , .mv.iwai.iij Teledo Edisen Company lit Mortgage 7 Geld Benit Due mi A FIRST MORTOAOE en electric property hav ing large earnings and a value materially in excess of the Bends outstanding. Price yielding about 6.50 Circular wen requ$at The National City Company Philadelphia 1417 Chittnut St. Atlantic City CTiatfente Bleck 1225 Boardwalk ARGENTINE Recession 4s 5s, 1909 BRAZILIAN GOV'T Sterling Issues 4s, 1889-1910 AY2s, 1883-1888 5s, 1895-1903-1908-1913 Railway Resc. 4s, 1900 BRISBANE V2 SYDNEY 6s & V2 GRAND TRUNK PACIFIC 3s & 4s of 1962 4s, 1955 Branch Line 4s, 1939 Canada Atlantic 4s, 1955 CASSEL, NUKES & Ce. Membtrt .V. Y. 3teck Exchange 60 Broadway New Yerk Telephone Bowling Green 3141 Canadian Bends Their Heme Market Progressive construction in Canada has new been suf ficiently advanced te enable Canadians te invest their profits from development enterprises in their own Government and Municipal, bends, thereby creating for these bends an extensive home market in addition te their "bread international market. American investors may purchase such bends at this time at prices te yield 5V2 te 64 Principal and interest payable in U. S. funds Full Particulars P-ttl en Jiequett Weed, Gundy & Ce. Incorporated h 14 Wall Street, New Yerk Tfl.nntn Londen. Knr. $75,000 READING COMPANY JERSEY CENTRAL COLLATERAL 4s APRIL 1, 1951 I'rte lnm Penna, Stain Tnx and Federul Income Tax te 2 PRICE TO YIELD ABOUT 5 REILLY, BROCK & BANKERS 306 CHESTNUT ST. PHILADELPHIA a lr February 1932 Investors IV, Pocket Manual contains latest statistical In formation, also high and low prices for several years, en all Usuesllsteden the New Yerk. Chicago, Philadelphia, llotten, Cleveland, St Leuis and Pitts burgh Stock Exchanges, New Yerk Curb and ether leading exchanges throughout the) United btates. Copy i.nl FREEin r. ju.il Ask for P.A.-241 "Always fFitheut Obligation" S'S-RtJSKAY&CO. Established 1877 MnWri ConieUdmri Stock Fxchante efN.Y. ft 1503 Walnut St. Philadelphia l Phenci Lecutt 7760 4 rr m MArhisen, Smith & Ce. IVUTMENT SECURITIES u,",UX SOUTH STH STREET .''v rmuwtixnM W&iX'fy-.-m& ,- mmmumr.wim, H trTZms: n s i-J.. V. . te. 1 ... Jt''-J3IL 1 .A'Sk-Hasa TiMMNlWHIIlHS 1 new yerk stock exchange transactions" N UPWARD SWEEP Bullish Demonstration Given Fresh Impetus Under Leader ship of Steel New Yerk, Feb. 21. Holiday infill meet, prospects of tighter money, profit-taking saleg were nit swept aside by the momentum of the upward sweep In today's stock market. There was a decided broadening of the Hpeculatlen with the rising trend, and In virtually every quarter of the list the line of least renlstnnce was clearly upward. A number of the leading stocks Mfli of the representative and speculative clnsi broke Inte new high ground) several reaching the best prices touched In sev eral years. Ne matter what may have been Influ ences or the motive, the forward swing was of n convincing nnd comprehensive character. The leadership embraced some of the most popular favorites in eluding such representative sharps as t'ntted States Steel, Northern Pacific, Union Pacific and ethers of that type. In the mere speculative class Studv baker and llaldwln Ioeemotlve were outstanding features, lleth had a pro nounced Invigorating influence upon the several groups they represent. The persistent recovery In foreign exchange supplied a strong bulwark, but from n sentimental point of view possibly the greater lnvlgoratien was derived from, the remarkable recovery which had taken place in the grain markets. This Is regarded as highly Important both from n fundamental and economic viewpoint because It is felt it. will have the same rejuvenatlnc In 'J fluence in the Western section as did the llare-back in cotton in the South Seuth em section Inst fall. In a point of prominence, the equip ments were the utar performers, Hold Held win Locomotive, American Locomotive und American Car and Foundry ench touching the high point of the year. The movement was communicated te General Electric and Westlngheuse, which likewise mnde new top figures. Hut ns the morning udvnnced It be came evident these behind the con structive movement were working In concert, making the position of the out standing short interest mere nnd mere untenable. The demonstration wns made te nppear mere forcible because the rank nnd file had generally looked for morn or less irregularity today be cause of the holiday tomorrow nnd the natural profit-taking. The real Mgnal for the extension of the bullNh demonstration came when Steel reached 04, which stimulated re newed buying of ether steel shares, ns well ns the equipments nnd meters. Siiirnr. leather nnd textile shares also strengthened nnd swung into line, ns did the mall order stocks. In the latter I the shorts were given hnrd punishment. Seuth Perte Ulce Sugar, Hide and Leather preferred, Central Leather, American Woolen, Senrs-Heebuek nnd I Montgomery Ward rose 1 te almost 4 I points. The local utilities were the only I weak features, the various traction I stocks nnd bends fnlling - te II points 1 ns n result of the cut in the valuation I nnneunced by the trnnsit commission. 1 Senccn Copper nnd Columbia tins were al-e noticeably Heavy. The mnrket experienced a sharp set back shortly after midday, when Mexi can Petroleum suddenly Ureppeil 1 points en nctive selling. Humors were I circulated that there was nnetlrer hitch in the settlement of the expyrtb oil tux 1 negotiations, and u prominent engineer gave a doleful picture of salt water In 1 the Mexican wells. Other shares weak i ened sympathetically with particular I heaviness in Pun-American. Atlantic Gulf, United Fruit, and Crucible Steel. , Itesumptlen of peel operations In Amer- lean Ice. Cern Products nnd several ' of the low-priced steels caused a tul . sentient brisk rally nil around. Dividend-paying Industrials nnd rails, 1 especially United States Steel. Cairn ! diun Pacific, Union Pacific nnd Reading, i rose te best prices In the linnl hour. A drop en call money rates te 4, pec ' cent gave a fresh Impetus te the ad ! vancc. I Kxceptiennl breadth was also shown by the bend market, the trend In the I main being upward, especially for I foreign issues. llelglnn Government Montreal Winnipeg Us nnd French Government Vi! s were nt new high records. Japanese Gov ernment 1st, 2d and 4th 4VVs were strong, the latter gaining IV points. French and Swiss municipals nnd Chinese und Chilean bends also im I proved. Missouri, Kansas and Texas ! issues again led the railway division, the 2d 4'h gaining 4 points, nnd the certificates 2 points. The severe shrink age in the valuation of the local true- tlen companies uinde bv the Trnns I sit Commission caused losses of 1 te 4'; points, Interboreugh Consolidated , 4.'s, Manhattan Elevnted 4's and I Third avenue adjustments being most ' adversely uffecteu. GRAIN MARKET Wheat May July . ... Cern Oilen 1.43S l.sufi cm 414 U' Utah 1.47K 1.28 4 04 S 4211 4U 4 Lew 1.44S 1.1!3 (12 'i (WT 414 4i!Vi Clese 1.44 '. 1.20'. 04 'i 00 414 42V I May ,Julv ... I Oats May July .... I Turk 'Muy Lard M.iy July .... lllbs Muy July CO. 20.00 11 72 11. S7 11.22 10. 3 ...11.S2 , . .12.0J 11.ne 12 r.3 11.02 11.80 ...11 r.e .. .11.33 ii.r.3 11.33 11.20 10.U3 COTTON MARKET Tent. Today's cleu" ern JIlKti Lew 1S.14 17. Si 17. M 10 7 10.03 Cln( IS S3 it ST. 17 tnttua 17 41 14 10 S04f N2 10.03U07 M.irch 1".4 May . is is is js 17 US 17 4.1 HI ." 10.7s IS .10 1 n 17. 3J HI 07 10 se July Oct 17 US 17.10 Drc 17 02 ape., 18.33. Liverpool Cotten I.lTPrnoel, K(b 21 There was n fair de mand for aiiet cnttun today, hut prlcps me iailcr en th buiiin of a a?clln, of IS points for mlddllne ut Hi :n I The salcn ere S11110 bales Th icclpta uer BOOO ball h, Includlns 1300 balis Armr can Futures wi re quiet In the arlv d-,illni;u. Spot prlc.H nere American. mlddllnB fnlr 12 27d: uend muldllnir, 10 fsd, fully nrlddllrar 10 OSd middling, ion Id. low middling. 11 3Sd. geed urdnr, 8 13J, and ordinary, 7 38d NEW YORK COFFEE MARKET OP'n High Lew Clese C'Iehb eOVtfOS BOB 853 KMi&SO S.S0 'X.ttt) h oil h.00'871 8.71 h.04 h.s0tj SOS Fib Mar r May June S UH 8 00 8.70 h 72 8 73 July ,. 8 74W70 8.73 8 70 t 70 Auir .. . .- . - "8 71 Hept .. 8 73f7U 6 70 h 73 8.7273 . H 73 h.74 S 73 , 8.71 bta .. 8 7577 B.bO 8 75 8.73S70 8 70 Nemln&l. tTruda. MONEY-LENDING RATES Star YOKK Call money easier; high. Sj tow. 44i ruling wt(, 3. closing bid, 44, offered at 3. Inst lean. 3. There ws.s nj positive feature te any of the departments of the menry market, unless special Interest might be attarhed te the steadiness et call money. That cIhkh of bunk accommodation 1"rihi r.ll threuk-h the first half of the day at 3 ier cent, the rate ut which renewals ere mndn at th. beirln nlng of business, and there was u geed supply continually In sight Time money wr.s again uueted at 4l. te 3 per cent, with some new leans made nt 3 ir cent, the only business transacted during the day. Commercial paper showed a firm tone, with rates firmly held around S per cent. There had been some business recently at ,4 per jeet, ' mnaJQlOnnA Call, afeer cent! time. i.lrjr.tb t. .U & Today's A Clese Ces. 08 4- 1 Dlv. In i High . . Adams Express OS 5 Advance Ilumly pf , . 80)4 4 Air Reduction 01 AJax Rubber H . . Alaska Geld Mines.... H .. Alaska Juneau DM.. Ji 7 Alt-Amerlcan Cables.. US 4 Allied Chem ft Dye. . . 00 7 Allied Chem A Dye pflOSft 4 Allls-Chalmers 44 Vi Am Acrie Chem H . . Am ArtIe Chem pf . . . 08 .. Am Beet Sugar 30 0 Am Beet Sugar pf . , . . 07 54 ., Am Besch Magneto.. 88H 4 Am B Shoe Pdy new. . 00 . . Am can 40K 7 Am Can pf 0lH 18 Am Car & Fdy 150H 7 Am Car St Fdy pf....l20 .. Am Chlcls 8U . . Ani Cotten Oil X3H .. Am Cotten Oil pf. ... 47 J4 .. Am Prus; Syn S4 Am Express ISO 14 .. Am Hide & leather.. 15H . . Am Hide ft Leather pf or ft 1 Am Ice 101(4 0 Am Ice pf 804 . . Am Intcrnat Cerp. . . . 4'i 1 Am-La France Eng. . t't . Am Linseed 39 H .. Am Linseed pf 57 J4 0 Am Locemotlvo 1114 7 Am Locemotlvo pf....ll34 . . Am Safety Razor. ... 4 .. Am Ship & Cem..'... 124 .. Am Smelt 40 H 7 Am Smelt pf 90 H 0 Am Smelt See pf A. 88?i 12 Am Snuff 133 8 Am Steel Foundries.. 3214 . . Am Sugar Ref 67 'J 1 Am Sugar Ref pf.... 95 !4 .. Am Sumatra 20(4 0 Am Tel ft Tel 110 Ji II Am Tobacco 141 13 Am Tobacco B 137 .. Am Waterworks 7$ .. Am Waterworks 6 pf 23J4 7 Am Wholesale 7 pf. 80 7 Am Woolen 88 . . Am Writing Paper pf 24 . . Am Zinc Lead Smlt 13J4 .. Anaconda copper .... 48 $ . . Assets Realization ... 1 4 Abse Dry Goods 55 J 6 Asse Oil 103 6 Atclj Tep ft Santa Fa. 97?i 5 Atch Tep ft S F pf . . . . 85 .. Atlanta Blr ft Atlantic 1J4 7 Atlantic Coast Line... 80 4 .. Atlantic Fruit 2?4 .. Atl Gulf & W I S 8.. 27U . . Atl Gulf ft W I 8 S pf 18J4 7 Atl Refining pr 11 .. Austin Nicholas .... 10K 7 Austin Nicholas Inc pf 76 7 Baldwin Locemotlvo. .107 U 7 Baldwin Loce pf 107(4 .. Baltimore ft Ohie.... 36 4 Baltimore & Ohie pf. 64(4 (I Bethlehem Steel 00 0 Bethlehem Steel B.... 04 'J 7 Beth Steel 7 pf... 02(4 . . Beeth Fisheries 6 .. British V.m Steel .... 9(4 .. Brit Em Steel 2d pf.. 22(4 .. Brklyn Rapid Trnnsit 10(4 . . Brklyn R T ctfs of dep H .. Burns Bres A 110(4 .. Bums Bres B 31?i 7 Burns Bres pf 94 j; .. Butte Copper ft Zinc. 6(4 .. Butte & Superior cop. 2C54 .. Butterlck 32(4 0 California Packing .. 74(4 .. California Petroleum. 49W .. Oil Zinc ft Lead & 10 Canadian Pacific 134(4 Sates 410 8M IN 8N MO IM It 8300 180 400 1800 M0 200 100 1400 StO 800 100 4700 100 000 4400 300 100 1200 2000 1000 4700 000 13100 200 2100 400 7300 100 900 0400 1100 200 000 100 370O 1700 200 4400 A200 .1.100 1100 100 300 100 15200 100 100 4300 100 I 800 600 2840 100 100 200 100 4700 100 100 100 100 17800 100 2700 000 200 7300 100 100 200 .100 1400 400 3200 3UU0 100 1200 200 1100 000 800 300 6200 1100 100 400 2300 700 200 6000 1300 1200 700 000 1700 200 2000 3100 8300 1200 700 37200 600 800 1100 tee 100 200 6200 100 530 5800 4000 1700 700 1300 700 1400 9800 100 1500 13000 2300 1700 3290 11800 700 100 100 2800 15 400 100 1500 4200 1700 600 4500 100 1100 600 100 6600 900 200 3500 7000 000 400 200 1700 1700 300 100 100 2500 2000 200 600 900 aoe tee 1200 1300 500 1300 800 300 Lew 08 80 62 IIS W 103(4 41 35 57(4 30 07(4 38(4 59(4 40(4 09(4 149(4 120 8 MK 47(5 6 130 14(4 07(4 00(4 80 44(4 8(4 32 80 110(4 115(4 3 UH 45(4 00 88(4 8014- 8 4- 113 4 58H 108(4 4J4 35 SS MJ4 38(44- 60(44- 40(44- 89 (4 160(44- 120 4- 8(4 33 41(44- H 133 4- 15(44- 07(44- 101(44- 80 45 4- 0(4 33 4- 67(44- 110H4- 115(44- 4 UK- 40 00 88 .133 133 31(4 v" 'K 60 07 05(4 25 110 138 134 22(4 89 834 24 (4 13(4 47 1 65 101 07 85 Ki 88(4 2 24J4 18(4 110 18(4 75 100 107(4 30(4 54(4 59(4 03 92(5 0 t; yi 2(4 119(4 140K 137 7 28(4 88 - 83 24(44- 7 13(4 48(4 1 - 55(4 108 4- 07(4 85 - 1(4 88(4- 2 25 Vi- 18(4- 110 10H- 75 - 107K 107(4 36 84(4 60 64(4 02(4 0 0(4 22(4 10(4 34(4 22(4 10(4 8 110 32 04 5(5 26 32(4 74 48 5(5 131 15 3(4 08 32 07 33 63(5 58 274 4 15(5 33 (i 7(4 17(4 20(4 34(5 68 05(5 3S 78(4 00 16 25(5 .'iC 55 44 27 44 7474 2 10K 00 92 12 55(4 103 113 34(4 50(5 19 10 27(4 0014 111(4 112(4 ion ! j 24 J4 070 142(5 80(4 1074 18 11(4 81 30 X "!4 (4 62 68 96(4 163 8 60(4 3J(4 18 75 35(4 8(4 10 20(4 73(4 04- 6(4 20(4 32(4 74 48 S . 133(4 15(4 3(4 0B -33(4 07 33 -04(4 5814 3(4 6 15 34(4 7(4- 18(4 3!4 35 08(4 00 40 f 78(5 90(4 16 55(4 44K 75 - 2(4 11 60 -02-12 74 56(4 104 4 113 - 34K 61 -27 60(4 113 112(4 100 fc 24 070 142(4 5 80 ie;4 18(4 11(4- 81(i 30 (4 62 . . Carsen Hill Alining. . .. Cuse (J I) Plew ..... 7 Case J I pf . . . . . . . . Central Leather .... .. Central Leather pf. .. . . C'erro-de-Pasce 0 Chandler Meters . . . 4 Chesapeake ft Ohie.. . . Chtcnge & Alten . . . . .. Chicago & Alten pf.. .. Chi & H III (new) ... . . Chi & E 111 (new) pf . .. Chicago & Gt West. . . Chi ft Gr West pf . . . .. Chi Mil & St P . . Chi Mil ft St V pf . . . 5 Chi & Northwestern. 4 Chicago Pneu Meet. . , . . Chi R I & Tac 15 3(i 71 33 07(4 33 0474 69 3(4 5 15 34(4 7!4 18(4 21(4 35 08(5 69 40 0 Chi R I ft Pac 6 pf MJ4 7 Chi R I ft Pac 7 pf 0OJ4 . . Chile Copper MH . . Chlne Copper 25J4 . . Clev Cln Chi & St L. . 50 . . Cluctt-Peabedy 4 Coca-Cela . . Colerado Fuel & Iren . 5 Colerado & Southern. 0 Celum Gas & Klcc... . . Cel Graphophene . . . . . Cel Graphophene pf . . A Pemnut Tnh Recerd.. 55(4 45(4 27 44?4 70(4 , 2(4 1114 66 7 Consolidated Gas 93H .. Consolidated Textiles. l?7i .. Continental Can BH, 4 Cem Products Ref. . . 105 7 Cern Products Ref pfU3 2.50.Cesden & Ce 35 4 Crucible Steel 61(4 .. Cuban Am Sugar .... 20(4 .. Cuban Cane Sugar ... 10(4 . . Cuban Cane Sugar pi 28 . . Davisen Chemical .... 61i 0 Delaware ft Hudsen.. 113 0 Del Lack ft Western. 112(4 5 Detroit Kdlsen 106(4 1 Deme Mines 24H 10 Eastman Kodak .... 070 12 Electric Sterage Bat..l42?4 ., Emersen-Brantlng ... 694 B Endlcott-Jehnson .... 81 ., Erie 11 .. Erie 1st pf 1S(4 .. Erie 2d pf 11(5 H Famous Players L. . . . 82 4 Federal Mln ei Smlt pf 30 . . Flak Rubber 12?4 . . Frecpert Texas 14 H . . Gasten Wm & Wig. . (4 .. General Asphalt 03(4 6 General Cigar 68J4 7 General Cigar deb pf , . 00 5 General Electrle 156 . , General Meters 0 8 Gen MoterB deb 6.. 09 .. Goedrich B F 38(4 . . Oray Davis 18j 7 Great Northern pf.... 76 4 Great North Ore ctfs. 35 .. Guantnname Sugar .. 8 . . Gulf Mobile & Ner. ... 10 .. Gulf Mobile & Ner pf. 20(4 .. Gulf State Steel 74(4 . . Hablrshaw El Cable. . 2 .. Hendee Mfg 15!4 . . Housten Oil ' .. Hupp Motorcar 15 .. Hydraulic Steel 6(4 7 Illinois Central 98(4 .. Indlahema Ref 3Ji . . Indian Refining .... 8 0874 1 00 4- 1 154(5 4- 2 8 .. 60(5 .. 37(4 18 76 J- 35(44. HHl- 10 4- 20(4- 73744. 15(4 ryt 14 5 88(4 3 8 (4 38 2(4 7(4 0(4 38 29(4 24(4 88 107 15(4 71 27 70 "54 62 48 07(4 1374 32 1H 1075 35(4 21 64 H 89 38 K 15(4 75(5 15 98(4 88(4 . 2 . 7 . 54 38 -j- 29(4-24-60 4 107(4 15(4 4 72 - .. Insulratlen en Cep.. 38 .. Interb Cen Cerp .. Interb Cen Cerp pf.. . . Internat Agrlcul 2 7 . 9(4 , 38 . 29(4 . 24 . 90 .107(4 . 15 . 72 300 Int Agrleul Cerp pf. 100 2.8O In Cement lien Inter Comb Eng ... 1600 C200 1100 4800 .100 300 6100 100 4500 100 3700 000 15000 2400 100 3200 500 3700 100 6100 5 Int Harvester new.., 7 Int Harv new pf.... .. Int Mtr Marine .... 6 Int Mer Marina pf.. internat aioieriruc 28(4 28 4- 18 02 4974 7(4 int Motertruck 1st pf 70 . International Nickel . 12! 4 0 Internat Nickel pf.... 62 . International Paper .. 50(4 0 IntT Paper pf stpd.. 67(4 . Invincible Oil Cerp.. 15 . Iren Products 33 . Island Oil 17 . Jewel Tea UH . Jenes Bres Tea 35(5 . Kansas City Southern 25(4 4 Kansas City Se pf.... 54 . Kansas Ae Gulf 0 8 Kayser ft Ce 89 . Kelly-Sprlngfleld Tire 40(4 33 - IK . 214 . 64 -6(4-89-39(44- Total sales. l,044,f00 shares, compared with 812,000 DIVIDENDS DECLARED Krle and 'iltstiurirh Hallread. quarterly 1 P'r cent, pasatile March 10 te stock of record February 28. Nailennl Transit Compary, xtra BO cents, payablx March 15 te stock of record 1'eb- Uerden' Company, quarterly 114 per cent en preferred, payable March 15 te stock et record March 1, . , . . Timkln-Dstrelt Axle Company, auarurlx. 1. T it en rlrrt4. sjayakU March f t" stockholders of record FsTrusry 20. .5 Owens Bettle, Cempjnir, OuairUrljrO etU aa cwtaea tkaiU'st fnttnd. bu lDnal.le April 1 te Tennpan jieimem e pr rent, piuauie rLCerd March 15. i.'emputinK 'i Company, quarterly 1 per cnt, April 10 te stock Raw 8ugar New Yerk. Feb. fnun; or. in raw sugar saaxtesi w wis e laenea of Cuban susars. the receipts I that seurc autal W.0W fclfle! w u&tte . . DW. Today Net Clese Chgs '77 981 711 87(4 .. Salss In f High Lew 17 87 78 xg 1S8 :::s 88 H ISO 1MK 187 04(4 100 IS 10 183 118 UIH 3(4 80(4 48 ". 47 10 20(4 27(4 31 iK 107 118 3N Kelly-Spg Tire 6 pf. 17 8 Kelly-Spg Tire tvt Pt. 88 11 1700 70 Keisey Whesl 71 SIM .. Kennecett Copper.... S714 MM .. Keystone T A R... y.. 17 M4) Kresge 8 9. .. .......188 7M ., Lackawanna Steel ..48(4 200 . , Lactede Gas of St L. . 81 300 s Lee Rubber Tire .... MM 17 IM 98K 81 118 1MK 187 2400 8.80 Lehigh Valley 01(4 100 iz l.iggeu & Myers us 138 7 Liggett ft Myers Pf . . . 110 It Liggett ft Myers B .... 187 7 Lima Locomotive 80 7 Lima Loce pf 108 .. Leewo Ce It 1 Left Candy , 10J4 13 Lerltlard Tobacco. .. 181 7 Lerltlard Tobacco pf . . 118 7 Louisville A NMhvlllellSft . .. Mclntyre P Mines..., 3 4 Mackny Ces pf 00(4 .. Manatl Sugar 48 7 Manhattan Elev guar 48 . . Market St Rwy 5 .. Market St Rwy pr pf 47(4 .. Market St Rwy 2d pf 10 .. Marlln Oil 97 .. Martin Parry 38 .. Math Alkali SI . . Maxwell Class B IS 8 May Dept Stores 108 12 Mexican Petroleum ..128 100 100 100 64M 3M 600 100 200 18M 3M 300 800 100 700 100 1600 700 100 000 300 18500 (4 (4 (4 2(4 J4 .. H 1(4 14 H H H 1(4 H .. H 1 l H K 1(4 (4 88 IM 14 1K K3K 118 113(4 3H 60(4- 308 .... "" copper ...... y " JOOi.20 Middle States Cerp... 13(4 1K 7300 .. Mldvale Steel ...... 31 80 a ni ami uepper ...... 36(4 26)4 1300 . . ,1111m bl LiOUlS .... 7 Minn St P A S St Me. 07(4 . . Me Kansas A Texas. 3 .. Me Kan A Tex (wl).. 11(4 . . Me Kan ft Tex (wl) pf 32(4 . . Missouri Pacific 20 . . Me-Paclflc pf 81 8 Mentana Power .... 08 . . Montgomery Ward . . . 14 .. Mulllns Bedy 25 .. National Acme 11 7 National Blicutt ....135(4 7 National Biscuit pf . . 120 .. Nat Cleak ft Suit .... 38(4 7 Nat Clenk ft Suit pf . . 80 . . National Cen ft Cable 2(4 0 Nat Enam ft St .... 30(4 0 National Lead 88 7 National Lead p:....lll . . Nat R R of Mcx 2d pt 3 0 N O Tex ft Mcx .... 62 6 New Yerk Central . . . 77 8 200 12M 10100 Z400 3100 8400 100 14800 100 200 100 100 600 400 000 17000 300 100 100 000 1400 7)4 3 10 S1H 2 08 18 28 11 138(4 54 (4 y 4 IK 1(4 .. K 1 1 1ZO 86)4 70 3 33(4 89(4 111 3 IK 77(4 04 31)5 87 17K 21 13H 100 68 43 7 78 12 2 8(4 130 28(4 0(4 00 14 40 53 48 34 7K 75 23 68(4 08 34(4 32(4 16 31 7 47 89 88 24 76(4 65 26 78 16 38(4 34 100 98 21 (5 13 74H 45 49 31 53 82 4 51 23(4 25(4 45 20 40 IK 4!4 8 04 11(4 40 10 40 75 82 89 84 10 K 62 120 00 170 115 33 40 90 102 5 2 10 -45 30 25(4 44(4 18 132 03 24 34 6(4 66 17 131 73 103 27 143 20 A3 25 3 46 01 65 99 33 93 lie 61 14 35 81(4 07(4 7H 7(4 22(4 14(4 12 0(4 15 16 92 100 65 7 38 0(4 4 38 28 160 40 7 120 33K 80 30 89K- 111 - 3 1K 77 04 31 K 87 12 -100 89 49 7 80 12 3i 2 K- 136 28 0 00 -34- 8 58K 69 ! 34 32- (4 (4 (4 3(4 4 K "h "tV 600 e rew Yerk C & St L. . 64K 200 2. be New Yerk Deck 3174 100 New Yerk Deck pf . . . New Yerk N H ft H.. 67 1600 400 200 800 6100 1100 3600 4300 100 500 200 200 3900 100 100 200 4700 5500 1 800 2100 7500 000 0800 1100 200 200 500 900 600 4400 1700 609 100 700 200 200 300 200 000 1200 1100 100 17 2 New Yerk Ont ft W. . 21 . . Norfolk ft Southern . . IS 7 Norfolk & Western ...100 8 North American ctfs. . 50 3 N American pf ctfs.. 42 . . North Amer Rights . 7 7 Northern Pacific .... 80 .. Ohie Bedy ft Blewer . 12 .. Okla Pred & Ref .... 2(4 .. Ontario Silver Mining 8(4 0 Otis Elevator 137 S Owens Bettllntr 20 .. Pacific Devbl Cerp.... 6(4 8 Pacific Gas ft Elee .. 00 .. Pacific Mall IS 3 Pacific Oil 4714 1 154 (4 K 14 "(4 (4 '(4 2(4 2 !4 (4 (4 (4 "'A 0 Pan-Amer Petrel 55 0 Pan-Amer Petrel B... 49 2 Pennsylvania R R.... 34 .. Penn Seaboard Steel.. 8 6 Peeples Gas Chicago.. 70 .. Pere Marquette 24 5 Pere Marquette pf . . . 59 6 Pere Marq prier pf . . 69 3 Philadelphia Ce 34(4 60 Phillips Pet 3274 .. Plerce-Arrew Moter.. 16 .. Plerce-Arrew Met pf. . 32 .. Plerce Oil 8 8 Plerce Oil pf 48 0 Pitts Ceal 60 7 Tilts Steel pf 88 .. Pitts & West Va.... 24 6 Pitts & West Va pf. . 70(4 . . Pressed Steel Car .... 05 .. Producers Refiners.. 20(4 4 Pub Service of N J. . . 78 8 Pullman 17(4 .. Punta Alegre Sugar.. 38 2 Pure Oil 34 .. Pure Oil 8 100 8 Railway Steel Knrlnc 08!tf U 4(4 U V 54 H " 1(4 (4 (5 1 1(4 3 2 54 14 H 1 1 7H- 47K 00 88 4 24 20 78 - 17 K 38 34 100 700 te 3.41 Jtand Mines 22 1300 . . Ray Cen Copper .... 1374 21200 4 Reading 75)4 200 2 Rradlng 1st pf 40 100 2 Reading 2d pf 49 (i 2600 .. Rcplogle Steel 32(4 2700 . . Tttpubllc Iren ft Steel 83(4 .100 7 Repub Iren & Steel pf 83 500 . . Republic Meters .... 5 3500 c.20 Royal Dutch NY.... 82(4 300 .... Rutland pf 23 12509 ,. St Leuis San Fran .. 20 100 .. St Leuis San Fran nt 4814 5100 2900 400 ,000 200 16400 11700 20O 310O 1000 200 300 100 11600 17400 1100 110 2000 300 1000 700 300 47100 500 200 100 1000 11600 9600 900 1800 4500 500 3500 100 200 3100 500 5200 6800 1100 100 100 2100 600 6300 1600 1700 3200 1700 6200 300 700 06400 1100 1800 400 24200 2500 100 700 1000 1400 100 100 400 400 200 100 100 8700 200 900 1100 600 100 200 300 500 100 . . St Leuis & S W R K. 2774 . . St Leuis Southwest pf 40 . . Saxen Moter 1 . . Seaboard Air Line .. 4(4 . . Seaboard Air Line pi 8 . . Sears-Roebuck 08(4 . . Seneca Cep Cerp .... 12 74 Shell Transport .... 40 . . Sinclair Oil 19 . . Sless-Shcffleld 41(4 7 Sloss-Sheff leld pf . ... 75 . . Se Perte Rice Sugar. . 64 8 Se Perte Rice Sugar pi 89 0 Southern Pacific 85(4 . . Southern Rail 20(4 . . Southern Rail pf .... 6274 8 Standard Mill 122(4 4 Standard Oil of Cal.. 00 5 Standard Oil et N J.. 177(4 7 Stand Oil of N J pfll5(4 2 Stewart Warner Speed 33 . . Strembcrg carb 40(4 7 Studebaker 09(4 ii 54 1(5 15 H '274 1(4 1 !4 i 54 I " 1(4 BU 177- 115 33 40 - O874 102 4. 5 .54 1J4 "(4 !4 ' !4 !4 7 atuuebalter pf 103 Superior Oil Cerp .... 8U . . Tcmter Cern & F "A" 2 . . Ten 11 Cep & Chem .... 10(4 3 Texan Ce 45 . . Texas & Pacific 31 1 Tex ft Pac C ft O .... 24 2.50 Tex Gulf Sul 45 .. Third Ave 19 8 Tidewater Oil 133(5 0 Tobacco Products .... 63 . . Tel St L & West ctfs B 24 (i Tel St L & W pf U. . 34(4 . . Transcen Oil 0 8 Union Bug & Puper.. 67(4 2 10 45 31 4 25 1334 03 24 - 132 73- 103 27 142 20 63 25 4 -45 IX- 55(4 100 33 Union Oil 18 10 Union Puelfte ..132 , . 74 , . 103(4 Union Pacific pf 7 Union Tank Car pf. . . United Alley Steel 27 8 United Fruit 144(4 .. United Rwy Invest pf 20(4 6 United Retail Stores. 64 .. U S C I P & Fdy.... 26 .. U S Feed Products, ..Us Ind Alcohol . .. ..US Reelty & Imp.., ..US Rubber 8 U S Rubber 1st pf.., ..US Smelt & Ref.., BUS Steel 7 U S Steel pf l! Utah Copper . . Utah Sec , ,. Vanadium Cerp ... ., Va-Car Chemical.., ,. Va-Car Chemical pf , . Vlvaudeu Inc . . Wabash .. Wehash pf A , .. Wabash pf B 1 Webi'r & Hetlbrener . . Wttern Maryland 4 45 61 65 J4 100 33(4 94 116(4 62 14 36 32 67(4 7(5 7 22(4 14(4 12(4 (4 (4 54 ,y ya h !! 1 .. 0; .. West Maryland 2d pf 16 .. Western Pacific 16(4 7 Wtstern Union Tel .. 02J4 7 WestlngheuMi) A Brake 100 4 WestingheUBe E & M. 56 ( '2 .. Wheeling & L E... 4 White Moter . . White Oil Cerp . . Willys-Overland ... .. Wilsen & Ce .. Wisconsin CmtruJ... g Woeln erth F W ... 4 Worthlngten Pump.. . 'H . 38 . S4 . '474 . 38 . 28(4 1H 47 .25 Wright Aero 7(4 Ex-dlvldend. shares yesterday. Thus far this wek, 1,850,800 shares. stock of rfcerd March 10, I fl'.'.oeo baas te the American Susar neflnlna- ADDrnVVZckho0de'r'inef ' ''""Pany: M.OCO bass te the Warner Sugar April 1 te stockholders of j,,,nnllw cempany: 80.000 bags te the Kd- auuiaiing nnd Be nerenlln:x ' "' fup"r no nuiw uuuipuny; ju.OUO bass te MiiiblS Arbuckle Brethers! 80i)0 bags te an lm pajftble , 000 lgJ cen,1(tIie(, t0,h(,7r.3; ', VS.UOO boas en route te Canada, in addl- of record March tlen. 12.000 bags San Domtnsea Market Stead ruuiv te ins Aiominien. tii far at aUe. cost nviua vieuy 21,rAn. outstanding tea Cuba. In addUlea te the I chased by local rentiers, a.- ... ......Iba.. A Ann 1.4 eaw Ipts from tiling mvwi wvvv IMflJ end half of Uareh t H , yesterday agcregatsd 'sppruxl bus eiguibutaA M faliewi; leeai xNuwa r",; ..vrffflfelt . .,I,J.ijif.faii . . . irt, r,.... . H , J-V ,' T( TRADING IN P. R. T. WAS IDE IK Lehigh Navigation Income Last Year Over 10 Per Cent en Stock 7 1 "it 1H 1 The buoyancy of the New Yerk mar ket, ai is often the experience, exerted a diverting rnthcr than a stimulating influence upon speculative interest in the local market. The trading was fairly bread, but the voluree of business was much smaller. Increased activity in the trading in Philadelphia Rapid Transit and the continued strength of U. CJ. I. were the only features of com ment. The transactions in I'. R. T. were net only broader but larger blocks changed hands. Several 100-nhare blocks came en the market and one of Cifi shares, which raised the quotation above last night's closing level. The street paid little or no attention te the interesting developments that nttended yesterday's beard meeting, Mere attention was paid te the enrrij lng statement for January, showing a net income of $234,000, which was a pleasant surprise, in that n compara tively peer snowing was looked for. U. O. I. reflected qUtet accumulation at 41, the top prices of the year. Little was dene In the preferred, union Traction remained solidly pegged at 35 nnd Philadelphia Traction, after dip ping te 03. snapped back te 05. Trad 54 (4 (4 48 - K 42- SK 6- 47(4 .. 10- K 20K- K 37 .. SI 1SK IK 108 1 131K- IK 8K- H 13 - K 31 1 K 54 7K H 3H K 11 33 K 301 1K IK 081 14 H H- K HK K 485 IK ing continued quiet In the Philadelphia Electric issues. Dealings were uncommonly light in the miscellaneous list, American Stores eased off te 05. American Gas sur rendered n point nt G8 en small sales, Electric Storage Battery was up i nt 142, but real action in the stock has been transferred te the big beard. Ic high Navigation improved a point en the excellent showing made in the an nual report. Cramps added 5 points te the recent substantial rise at 48. As forecast, the net income of the Lehigh Ceat and Navigation Company K 3 1 K H 1 K It K K 1 K out of the earnings last year was equal H K 74 K te ever 10 per cent en the stock. The net income for the year was $3.0H3.704, equal te 10.3 per cent en the $20,243, 400 capital stock. This compared with 13.8 per cent in 1020. 0.8 per cent in 1010 nnd 0.0 per cent in 1018. The gross revenue for the yenr was $4,086, 423 less than in 1020 and the net $1, 011,288 wnaller. During the year the funded debt wns reduced $2,G7ii,000 te $22,013,000. The reports show the company in a strong financial position, with $7,005,048 working nwets, be sldw $4,611,050 of Liberty Bends. In his report S. D. Wnrrlner, the presi dent, gives nn extensive review of the conditions of the anthracite industry as te cost and labor questions. Philadelphia Stocks 1 K H Nat Clese elite, 05 Vj 12 1 HUh 208 Am Stores 05 100 Am 8 & C 12 10 Am Gas.. 58 lOOfAm Sugar 074 43 Am ltwys. 0 R de prcf.. 20 25 Bank N A war w 1. 02Vi 25tB & O... 30 Lew 05 12 10 1 321 58 r l 07V .07 20 20 . . 02 80 02 36 10 lirlll J U pf 71 71) 7U .. 175 Elec Ster.l424 142 142 H7 in Ce N A 31 aeri 31 . . 75tlsl Oil... 1 1 1 V 25fJewel Tea 17 17 17 V lOfKcy Tire. 17 17 17 lOOtKnn C Se 24 24 24 nOOLake Supe 0 0 0 98 3 IV -f- 1 13 75 -31 f 63 82 - a 61 -23 K K mn i.cii -av. iiYi iJ vavi-r-i'i K IK K K 234 Leh Vel.. 01 V lOOt.M Stn Oil 13 13 Mt 30 lOtMldvale . 30 33 Penn Cent Light pf 53 025 Pa It It.- 3474 57 Pa Salt M 00 3S5 Phlla Ce cum pf.. 37 030 Phila Elee 24VS: 340 de prcf.. 28 033 de wnr f n 27 2475 P It T... 23 225 Phlla True 03 SOtRcading. 75 lOt.Sears-Hee 05 200fSeu Rwy. 10 150 Ten Mln. 1 310 Vn Trec. 35 1088 U G I . 41 2110 de prcf . 52 lOtVnnndlum 30 20 W ,T & S. 32 100 W Cramp & Sens 48 53 1 34- C0 37 .. 24.. 28 .. 27.. 23 '05 75 5 1 10 IT- A 41 30 1 32 1 K 20 4- 1 48 2ry, 1 40 IK- (4 4 .. X U7 3)4 12 40 05 10 nlH 35 41 52 3(1 32 iuyt 41 75 4- 54 4 89 85 1 3 3 "k 1 V 45 48 5 122 1 tNet chariKO made by comparison with last sale en New Yerk Stock Exchange. Total sales, 10,'JSO snares, compared with 8411) eharva yesterday. Thus far thin week, 1S.CS8 shares, PHILADELPHIA BONDS 1 "k K 2 2 K X 5e K K X X 2 1 X 54 K K 2 74 94 K K IK 1000 Liberty 3d 4s '28.. 100 Liberty 3d 4s '28.. 1000 Liberty 3d 4s '28.. 07.44 07.14 07.30 200 Liberty -ith 4'h '.... 00.84 1050 Liberty 4th 4s '38.... 00.02 15000 Victory 4s '23 100.20 3000 Bell Telephone 7s.... lets 108 1000 Bell Telephone 7s 108 3000 Cens Trac New Jer Gs. . 75 BOOO Electric & 1'ee 4s. . . .Ieta 1000 People's Passenger 4s. . . 1000 Phlla Ce cons 5s 200" Phlla Electric 1st fis.... 05 00 88 04 04 4000 Phlla Electric 1st 5s. 100 Phlla Electric 1st Gs. 1000 Phlla Electric (Is. . . . 4000 Phlla Electric 0s.... 4000 United Railways 5s. .lets . . . . ue .... 101 .lets 102 .... 82 . . . . 82. 1000 United Railways Gt.. Total. $47,1550, compared with 137,800 yesterday. Thus far this uecli, HOD, 350. FURTHER RISE IN STERLING H Cables Quoted at 4.40 4 All Euro pean Issues Streng New Yerk, Feb. 21. Opening quo tations In ferclcn exchanee this morn. it lng showed ti strong tone embracing all the European Ihsucs. In the afternoon sterling reached the top price en this movement at 4.40, and guilders established new high prices at 38.40 for cables. The quotations follew: Sterling cables 4.40, demand 4.30; franc cables 0.12, checks 0.11 i Urn cebles 5.02, checks 5.01 ; guilder cables 38.40, checks 38.35; peseta cublcs I.j.07, checks 15.03 marks .45. The rate of premium In Montreal today en New xerk funds was 3 per cent. This Is lowest rate of premium thus far reuched en this movement The ratu of discount In Nev Yerk en Canadian funds wnH 3 per cent. The Central European exchaiiccs were: Greek, 4.58; Hungarian, .14: Rumanian, .82; Bulgarian, .71: Aus- 94 3 110 - l 'K i "t 'A OW2 T 32 4. 67K- 7 7 22 "54 12- K 16 4 16 9274 100 60 7 38- ,54 X K (4 '. X K K 54 74 2 X X !4 8 4 ' 4.J4 4- K!trlttn,.e-v; roils , e:a5; Oseehe. 3894 K ' Hlevaklan. 1.84; Finnish, 2.05; . K 154 I Wan, 1'JX'1 JuBe-Slavlun, .323. "0K4- IK TODAY'S Ol'BNINa QUOTATIONS St?r.!!,'l!t FJW Mm Guilder. Demand 4 3 i)W 0 1U B.IIJV4 as SB Cublea 4.3IIH IU4 S.0J fiy Se NOON QUOTATIONS Sterling Francs Lire aulldr Demand 4.8H 0.14 B.(iH ' r" Cable .H 0 14'4 8.03U " CLOHINQ QUOTATIONS Stcrllns FranpH T.i..A r,..i. i7 4- 7K4- H K Demand 4,3ll g.ia BeaiU3S:aS Cables 0,13 e.ua sg.BQ BANK 0LEARINQ8 arrived mn F-.t irMl Bank clearings today compared with same i for day last tweiytarsi " "" "" an"1 19,652 Failures in 1921 That's Why Crtdit Ituaranee it Nfdtd Last year's number of buiinett failure! in the United States ranked next te the record of 22,000 in 1915. And the 1921 indebtedness of 750,200,000.00 was ' the heaviest en record! What will the figures be for 1922? What will y$$ir, bad debt losses be this year? Aren't you interested in a tried-andpreved method of reducing credit losses for safeguarding your resources absolutely, against the ab normal and unforeseen? Don't you see hew much you really nttd the Credit Protection service rendered by the American Company? Will you write or phone t for the full dttails today? Limited Policies at a low cost. Payments ft PtlicykeUm tvtr $11,000,000.00 AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E. M. TREAT, prksidint tSSUIS gTANDARB UNLIMITSD POLrSIU W. J. Merphy, Manager J. F. MacFaddee, General Agent 1011 Chestnut St. Phenm Flibtrt SS03 Philadelphia, Pa. UnitedStatesVictory3Netes called for redemption, will be accepted at par and interest in payment for, Pennsylvania Municipal Bend's Yielding 4.10 te 4.40 These bends possess the same freedom from taxes as the Victory 3 Notes when held by residents in Pennsylvania. Send for Municipal Bend List Ne. 1116 Mmoi.il.iCe. Bread and Sansom Sts., New Yerk Pittiberih Baltimore embers New Yerk, Philadelphia and Pittsburgh Steclt Kxchanges City of Rie de Janeiro Sterling 412 Lean, 1912-1951 We Own a Limited Amount of These Bends and Recommend Their Purchase Price te Yield About 7 te Maturity Full Particulars en Application CASSATT & CO. Established 1873 Philadelphia New Yerk Baltimore l'lttsburgh bcranten Wllkes-llurre Underlying Bends of the Public Service Corporation of New Jersey Se. Jersey Gas Elec. & Tr. First 5s, 1953 Price te yield 6 United Elec. of N. J. First 4s, 1949 Price te yield Sl2 Passaic Lighting Consolidated 5s, 1925 Price te yield 5.65 ' Newark Gas First 6s, 1944 Price te yield 5.55 Write for descriptions of these efferingb and ether high grade bends. Bonbright & Company 437 Chestnut Street, Philadelphia New Yerk Bosten Chicago 1! 3a Our Business is te help people In anything: connected with the euro of property, handling money, carrying out the terms of a will. Consult us personally or write. We will assure you of courteous attention. THE REAL ESTATE TRUST OF PHILADELPHIA Bread and Chestnut Sts. a- ii ' ' ! !! L!. , .. BALDWIN CONTRACTORS' LOCOMOTIVES, BIG AND LITTLE, WIN CONSTANT PRAISE ContructerB who ubc Buldwin locomotives are sure, se fur as their haulage problems are concerned, that their contracts will be finished en time. Every Baldwin is built te withstand the most .severe use. Our skill and experience in building loco motives for this work, and our ability te forward repair parts, are valuable te every contractor. THE BALDWIN LQCQMOT1VE WORKS ' Phil.uUh.hl. ! i '.'!'. ' i 'O Kit Tl', T,",l,B,,SSSSSSaSJSBBSaBSSasSSSJBSSJBHIBBSSSSJBBJBJBJBSJBJSJBBBl SllMsMsfcSisiMaT yilTi " ' f-lfif---i -ig..M;t:Jfri" sWIBli Ml m Philadelphia WaiDJBltOB ;l M . i j pi ' vS Detroit CO. r r
Significant historical Pennsylvania newspapers