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mrnmwuZM . mmummiu i , met
mT
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vmmsFTMm
HFWHHHHKIHHrannMrTfPl' , 'V ,' I " l,"?JeBM?WffWJWWBMMTTl" VP WMBggMJgWBalaBaaaBBKrWaWB
HU ;.S ?. tlUVI ?M3y7 III! 11 I II II , JL .bVt' t.t.
ikv'tt:'TriviV'vK,vsLiHKTi.ha '"
ilB
t,- H ' ..ia !
Mi
k!? iiT
iJjjS.!.
&
M-
s
ill
.i..
4-:
m
A."
Year Secured
" i
rertible Geld Notes
fievS vear 7 Notes of
.the Havana Electric Rail
Wav Linht and Power
Camptny are convertible
? t I2U Inte long term 5
.. Benaa: listed An h Nr
?- Yerk Stock Exchange.
At present prices for the
w., nig UCllCIttl lUUtl-
gage Bends due 1954 into
which the Notes are con
vertible, are en a 6.10
basis, which seems te be
put of line with ether
high-grade public utility
bends.
Latest earnings statement
shows total interest
charges earned about syt
times. Since the Com Cem
Mnys' incorporation in
New Jersey in 1912 earn
ings have never been less
than .2.65 flme atlniial
interest requirements.
M'rlfp ter Circular,
' pU'fite rrlee and rarKculer.
(Hemphill, Noyes Cfe, Ce.
r Mamhf Nw Yerk Stock Cnianfe
franklin Bk. Bid., Philadelphia
etw Yet k Boeteo Acrantm
Albn Sarracuee BalUeMte
EQUIPMENTS KEPT 1 new YORK stock exchange TRANSACTIONS
MARKET MOVING UP
Same Remarkable Recupern
tien Shown After Early Re- J.
actienary Symptoms
New Income Tax
We hare prepared an
analysis of the New
Income Tax Law. This
analysis contains tables
and charts and shows
graphically the opera
tion of the law. Copies
sent investors upon
request.
Ask for Income Tax
Booklet F-33
Harris, Ferhes & Ce
Mna St., Cor. WHIIam
NEW YORK
PHILADELPHIA OFFICE
Wldantr Sid.,
Telephone Spruce 7040
- - -- r - t..-'.r l. ... . r-- ,.yi, ... ..,.v i.-jt.l.v. .j. aii.. r j-mj
New Yerk, Mnrch 8.TI,e cflulpine'n
ureup wh me Kejnete or uaj"n Med
market. They were net enls the strong
est nnd most active fentnres of tn
day H encrntlcins. but thex ile cxartci
a stnMlulnc Influence unn the jrencntl
list In Its general characteristics the
market was pretty much! n complete
repetition of the performances of itij
Immediate nreppilln sesxlenN. Prrtfi-!
isiennlkm wax outstanding, an according;
te ail reports, public participation con
tinned a nmnll item There was te
be found the name evidence of wavering
and hditnncy and also distinct lgn
ui w CHrinvc, out treiu mq uuur inc ru
pert cam" it wan VtllJ much euMcr te
hpII stocks than te bus them, Indies f
ins hip line 01 least rtsistance nns stui:
upward. 1
News developments overnight tended
In no sene te alter or .iffect the tweJ
Hided market. Shorts were disposed tei
extend their cemmitnienU nt the open-i
Iik en the further healnexs of ferclsu
exchanges, espeeiitllj the Urittsh rate.
They became mere cautious, however,
ns peels resumed their bullish operation
In specialties, and Heme of the tnere;
timid Immediately boRen taking in the
fresh commitments, net knowing hew!
far the peel demonstrations might ex
. .. , . - -...,.. i.. -r ii M...
lenu. .v picniuui suiijj m tun "n.-.
at -1 per cent, together with the "on "en
Itlnued buoyancy of the bend market.
I with a new libjh record for the A lctery
' 414 notes, nupplicd fresh encouragement
I Cor a resumption of the peel activities.
The pre-eminent feature of the oper
ations was the market's increasing io ie
! slstance te the tactics of the reaetlon reaetlen
lury partv and likeni'-e its continued rn-
markable recuperative power. As In
the ptctedlng sessions, at different in
i tervnls during the morning a substan
tial backset seems Imminent. Quite
pronounced heaviness appeared in dif
ferent euurttrs. mere noticeably in the
oils and meters, but the whole list
again snapped baclt iu a most convinc
ing fnaiiiim whpn the eeuiument TOUt)
i started te move up In earnest tinder
, the lead of Car and foundry, xuat
partlculir Issue mounted evor 5 points
te a new nign netcn. i.ima l.ucuuu
tlve also nitde a gain of 4 points and
advances of a point and ever were at
the same time registered by American
l .nnnninHriv Ttitliluln. l'ullinau. Rail-
way Steel Spring and Pressed Steel
Car. Steels displayed greater firmness:
en further price advances in nnisnee
'products In the Chicago district. Thf
sugar group also gavfc a geed acceun
of themselves. Utilities reflectel
pressure. Twin City Rapid Trnnsfc
lust ever a point, an did Public ServlM
. of New ,fcicy.
Investment Breker
OR
Salesman
Tf
Yeu can secure a
high-class industrial
preferred and com
mon stock for distri
bution if you are a
live wire and have a
geed investing clien
tele. Preposition will
stand rigid investiga
tion. Is net a promo
tion. References re
quired. Commission
basis only. Write
EDGAR G. BANTA
66 Broadway
New Yerk City
Commodity Markets
GRAIN MARKET
Chicago. March 8. Wheat started
U,c te lS,c lower for Mav ant llc,te
Pic off for July, with scatter! felling
and lack of buying support. Liverpool
at :i o'clock showed a decline rt 'J'd
te 2l'd; weakness in foreign ntrkets
Was responsible for wcllins in allplt.
Cern started "V e le 1enfl for
t.. e,,.i a.e nff frtr July, general tern-
Li.Vin imiKe llln? featured the inrt.
rtii etnrtpd unchnneed te 'yfcc lwcr,
1.0,1,, ,in mid market easy with Aher
grain
Wheat
Ma. July .
Sptmbr
Corn Cern
May .
julv
Sptmbr
0ts
M
July
Sptmbcr .
Hid
.1
E. H. Rollins & Sens
JenJ4 1ST
Inveatment Bends
1431 Chastnut St., PhiUdalphla
Betten
BaMmer
Pliem
-Ytw
-rictlt 7SM
Yerk
Chicago
TVilfeM-DetT
flen FranrHiee
Southern Pacific
Company
San Frncice Terminal First
Mortgage
4 Bends
due April t, 1050
Pric 80 and interest te
yidd about 5.35
Z4crittv fitrcular uceti rteuett
COTTON MARKET
x.ir Vnrk. March 8 A letter te
prevailed at the opening of the cotte
mnrVet tedav. Dartlv in respenbe t
numerous private tables announcing all
Improved ilanchesicr irane ouueobj
i,.c intprrstH sold October, bu
New Orleans, Liverpool, Wall Stree1
and sherU were buvcrb. Alter epeniu
0 te 10 points higher, the market re
.in, TTr stuadv en local buying 1:
nn,lnSnilnn nt n hulllsh Weekly WeSthC!
and crop report, and at the end of tin
firwt fifteen minutes was about 17 point!
net higher.
Receipts ft the ports for the day are
estimated at ia,vw eaies. npumst i-t,-080
bales a week age, l,l,200 bales
r oe and l.90tt bales two venrs
age.
i March ...
Mv . ...
' July
i Octelxr
Dscembfr
PlAVlOU
i-lem Open
IS l 18 SO
. 17. 0 IS. OS
. 17.21 lT.flt.
111.63 1S.72
10.44 16BU5S
l.uO
P. M
IS U
1H 17
K IT
ID 3J
Liverpool Cotten
Unniitl. Mrch 8 -Thr w t oed
.demun-i tei ut cotton teds- tat only
tneder! Jrailimi wa done -wltft Pr'f"
firm en 'the banln of mi dMinc of :r. elnU
fir mwailn t 10 (Ifld. Th aalj. ware 7000
biles The ratalpta wte 7000 bales a'l
, American Kuturaa mrr firm nlth n up-
wairl tendncy. Spot prlc were: Amrcnn
imMdllna fair? 2.1M oed mlddllne 11 U.d
, fuiiv rnlddlini. lO.sid. mlddllna 10 5D4 low
mlddlln. W.OSdi sead ordinary, i 31d and
ordinary, 8 Sid
DARBY, MEDIA &
CHESTER ST. RY.
1st Mortgage Wiv-c
Geld Bends
Due July 1, I93f,
Guaranteed Principal and
Intercut by the
Phila. Rapid Transit Ce.
" by Endorsement
Price te yield
about ti.50
Harvey Fisk& Sens
,1 t ' iMemiiAraa
t ' LAND TITtK BI.DOv
PHILADELPHIA
HswVwk Chicago Beatmt
NEW YORK COFFEE MARKET '
New Yerk, March S. Liquidation "in !
coffee futures this morning brought
about an opening decline of 8 te 11
points, despite the small floats fiem
Brazil and n visible of about one million
bags less than a year age ,
Tbe trade seems te be waiting, while
enffee continues te move freely te Urn- i
r.'llftn ports and e new ciep net far
away
Around midday th market was do
ing a little better, all active months ,
having advancd n scattered demand'
as a result of the trfmg ISrurlllnn ad- '
view In the cost and freight market i
sales of low-graile Santes "s were made,
at I1a.c ntid is nt K! tlif same ship
pei euntiiiz '10 points higher today The
-pet market was again nctie and trans
actions put through at full prkrt.
I'rev Clese ipen '
Mareli " 18 8 7"
M,.v H S5 S,7llffl77,
luiv . SSICSfl S iriT7 ,
Jfplember H SSJfSe S777sl
O IIVID
i Dlv.
Bares in $
500 .,
3100 .
200 ..
200
600
100
2S00
tee
47.00
1300
100
1200
100
V 100
J7300
'4100
200
1430
2200
300
2500
S200
1300
' 100
3300
5200
4100
1200
300
3100
100
80O
tee
1500
700
100
400
100
2100
100
3100
200
1300
100
500
100
300
7300
500
200
700
6200
100
100
' 300
3300
100
100
100
100
100
700
100
100
300
1100
2100
200
200
1900
700
1000
300
100
3200
100
900
BIOO
100
500
100
300
500
100
600
2600
200
2700
100
3300
500
100
100
200
200
100
1600
700
400
100
100
700
4600
1800
200
5900
100
1900 :
7200
400
4700
6500
7000
2000
100
1100
200
R700
500
100
1900
2000
700
6300
100
200
6300
5600
3400
2300
600
28100
100
100
"WO
100
600
100
1800
2500
1100
100
i'.eoe
100
1800
200
1600
500
200
2600
1700
1600
100
1700
6700
400
300
2200
100
1600
100
2700
100
3500
1000
100
100
100
100
6400
100
STOCK tilth
Advance Xtumsly ., 18 K
. AJax nuhbar 15H
. . Alaska Geld Mines; H
Alaska Juneau O M H
Allied Chem A Dye.. 57
7 Allied Ch A Dye pttOSH
4 Allls-Chalmers .... 48ft
7 Allla-Chalmsrs pt.. 91
.. Am Arrla Cham..., 3BJ4
. Am Agrle Chem pf 63ft
Am Bank Net .... 65
Am Beet Sugar.... 40 Ji
Am Besch Magneto. 38 H
Am I Shee Pdy new 59 H
Am Can, 44H
18 Am Car A Pdy.. .156J4
.. Am Chicle 10K
.. Am Cotten Oil . . 24?4
7 Am Ie., 103H
.. Am Hide & Lentil pf69
.. Am Intamat Cerp.. 44ft
1 Am-La France Kng lift
. Am Linseed 31 u
.. Am Linseed pf. .. 55ft
Am Locomotive, .111
Am Safety Razor.. 6U
.. Am Ship & Cem. . 14K
.. Am Smelt 48ft
Am Steel Foundries 33 M
7, Am Sugar Ref . 7H
7 Am Sugar Ret pf . 99
. Am Sumatra 29
. Am Sumatra Teb pf 60
' Am Tct A Tel 120ft
12 Am Tobacco ..137
Am Tobacco pf new 102ft
12 Am Tobacco l. . . 133ft
. Am Waterworks . Oft
7 Am Woolen . . . 88ft
Am Writ l'aper pf 29ft
. . Anaconda Ceppr 49J
Ann Arber ... . 20
. Ann Arber nt 424
Asset Realisatien.. 1ft
e Atch Tep A 3 Ft.. 96ft
7 Atlantic Coast Line. 89
. . .Atlantic rmlt 3Ji
.. Atl Gulf ft W t S S 29ft
Atl .O & W I R S pf 21 ft
. Atlaa Tack Cerp '7ft
Austin Nicholas ... 21ft
7 Baldwin Locomotive 1 07
. Baltimore Ulite.. 37ft
s Baltimore A Ohie pf 34
Barnsdale Class B . 21 ft
5 Beth Steel II S49i
7 Beth Steel 7r Pt. . 91ft
5 Bth Steel S pf. 108ft
.. Beeth fisheries 6
.. Beeth Fish 1st pf. 3
. . Brit Em Sttel 1st pf 58
. . Bklyn Rapid Transit 1 1 ft
. Bltn R T ctfa of dtp 9ft
.. Bklyn Union ass . 83
8 Burns Bres A ... .126ft
2 Burns Bres B .. .. 39 H
Butterlck 33 ft
. Callahan Zinc A Ld 5Ji
6 California Pecking.. 73
.. California Petrel.., 52ft
10 Canadian Pac'fle. .. 133ft
.. Carsen Hill Mining 13ft
.. Case (J 1 Plew 3ft
7 Case .f I pf 72
. Cential leather .. 35H
. Central Leather pt 69 M
Cerro-de-Pasoe ... 33ft
0 Chandler Meters .. 734
4 Chesa A Ohie 58 V
.. Chicago u Atten.. 4ft
. Chicago A Alten pf 8ft
..Chi 4 Or West pf. 16
Chi A Bill (new).. 17ft
.. Cli! A EIll (new) pf 30ft
.. Chi M & St P pf. .. 36
6 Clil A Northwestern 68 ft
7 Chi A .Northwest pftlOH
. Chi R I A Pac 40?i
C R I A Pae pf 79(4
. . Chile Ceppsr 17 h
. rhino Copper 27
. . Clutt-Peabedy. ... 55
4 Coca-Cela 4S
. Cole Fuel A Iren.. 26 ft
3 Cole & Southern. ... 43
4 Cole A Seuth 1st pf 58 S 2
6 Celum Qaa A Klec. 76?i
. Celum Craphopnene ZH
Cel Oraph pf 11 H
Cemput Tab Recerd 69 ft
24
, 105ft
13
. 594
,106
.113ft
. 35
. 58ft
. 83
24 ft
12ft
24 ft
146
9
S81ft
Consel Cigar.
Consel Dls Ins...
7 Comelldted Gaa.
. Consel Textiles...,
. Continental Can . . .
4 Cem Pred Ref . . .
7 Cern Pred Ref pf.
! ft Coden A Ce
4 Crucible Steel
7 Crucible Steel pf
. . Cuban Am Sugar. .
Cuban Cane Sugar.
.. Cuban Cane Sua pf 36
. Cuvisen Chemical.. 57 H
7t Deere & Ce pf 72
l Deme) Mines
12 E1ec Storage Bat,
Eniersen-Brantlr.s
r Undlcott-Jehnson
7 Endlcott-Jehnson ptieaft
.. Ert 10ft
. Kris 1st pt 16ft
.. Erie M pt 104
5 Famous Players L.. 844
t Famous Players L pf 93 ft
I Fisher Bedy of O pf 83
.. Flsk Rubber 14
.. Freapert Texas 19K
. . Oaaten Wins A Wig ft
.. General Asphalt.... 604
8 General Electric. .153
.. General Meters .. 9ft
6 Gen Meters deb 68ft
7 Gen Meters deb 7 79ft
. Goedrich B F . . 31 H
1 Great Northern pf. 73 H
4 Great Ner Ore ctia. 34H
. . Greene Cananea Cep 27
.. Uuantaname Sugrr 12
.. Gulf Stats Steal ... 73ft
. Hablrshaw El Cabl 2
7 Hartman Cerp. ... 100
. Htndee Mfg Ce... 21ft
Housten Oil 73ft
.. Hupp Motorcar 13ft
7 Illinois Central 101
. inspiration Cen Cep. 40ft
. . Interb Cen Cerp . 2?
. . Interb Cen Cerp pf 8
Internat Arrleul . 119
. Int Atrlcut Cerp pf 40 ft
.. Inter Comb Eng. . . . 23ft
E int Harvester new. 91
t Int Mer Marine pf. . 71 ft
. Inter Motertruck... 31J
7 int Motertrk 1st pf 70ft
7 Int Motertrk 2d pf IB
International NlekcJ 13ft
6 Internat Nickel pf. CO
.. International Paper 74
6 Inter Paper pf stnd 63
.. Invlnctble Oil Cerp. 16ft
. Iren Product.. .. 32
. Island Oil ,W;
. Jawsl Tea '9?
. . Jenes Bres Tea. 36
.. Kansas Cy Southern 24a
4 Kansas Cy Se pf 54 i
. Kansas A Gulf.. 5ft
. Kelly-Spring Tire 4i
. Kelaey Wheel ... 85
1.0 w
13ft
15
H
56H
105M
46
Bl
37
61 ft
65
39ft
30ft
89.
44 ft '
183
10ft
24
102
6BU
43 ft
10H
son
85 ft
109ft
6
14 U
48 ft
33ft
73
9?
28 ft
60
1194
134ft
102ft
132
8ft
87 ft
25 ft
49 ft
19
40 K
1ft
B6ft
89
3ft
274
20 ft
17
20 ft
106
37 ft
G4H
21ft
64
91ft
108ft
G
36
58
11
9ft
83
125
39
32ft
5r,
72.
51ft
135ft
12ft
3
72
354
69 ft
34 ft
724
58
A
8ft
16i
17 ft
38 ft
36 ft
68
110ft
40 ft
79 ft
17 ft
27
55
44ft
26J,
45
0ft
76
2ft
10K
69 ft
24
ft
103
13!':
39 ft
105
113ft
34 ft
56ft
83
23 H
12ft
34
E6ft
72
24
146
6ft
Blft
108ft
10
15
10ft
83 ft
93 ft
65 ft
13 ft
ies
ft
59 K
152ft
6i
68ft
79 ft
38 Ka
75S
34
?7
11H
71
14
100
19ft
75ft
144
101
39 ft
2ft
8
9'. 4
39
?4ft
91
70
26 ft
70
57 ft
12ft
66
46
63
15ft
32
m
19
30
24,
j4H
5' a
44
85
ft
J
.14
ih
1 .80 Net
V. M. Cr.
1344-
13ft
H
H-
57
1054
4614
91 -
38ft
flZ
69
39 U
38ft 4
894 44 ft M-
135
10ft ,
24ft4
103ft 4
69 4-44ft--llft-r
31ft
55 ft -
111 4
6
144 4-
48ft--
33H4-
73ft-
99
28ft-
60
120ft
1364
102ft
133ft 4
Bftf 874-
23ft-
49ft 4-
20
42ft
1ft
96 ft
89 4-
3ft-
1
ft
4
ft
1ft
8
4
ft
ui
'
ft
ft
ft
"
2
'214
ft
ft
ft
14
'ift
28ft 4- J
21 i
I7U
21ft
107ft -r
37 ft
34ft-
21-
64 ft -r
91ft
108ft 4
6 -
6 -
58
lift T
9ft-
83 4
126ft 4-
39 -
33ft f
3ft 4-
72ft 4-
32 ft-
135ft 4-,
13 .
3ft 4
72 4
35ft 69ftB
33ft
734 4-E8ft-
4ft .
Bft .
16H
4
36i .
084 4-110ft-!-40ft
79ft
-5-
33 4-444-
26 ft
45 -53ft-76
ft-
2!i f-
104-
69ft-
24 -t
ft-
104ft 4.
13ft 4-
594-
105ft-
113ft-
34 ft -r
58
83
23ft-
124 -r
33ft-
57ft
72 24 -146
-
9
-f
10
15ft-10ft-64
12 "r
93 ft
86
14 -J-19
Vtt
60 ft-
152ft-
9 ft-,-
68ft t
79 ft
39 ft r
75?i
34 ft I-
27 f
1 1 ft -r
73 ft-:
2 4-
100
21ft-!-75ft-13ft-f
101
40 .
24 4-
8
1 1 ft I-
40 -f
25 -
9i :
71ft-!-
3i4-:-
70ft
ss
13ft :
66
l7ft-
03
16ft -r
32
lft "
19 -36
24ft-54?4-
5ft
44 ft 4
83 -
niv.
Salts In I
1900 ..
3600 ..
600
1100
1400
300
STOCK HISli
. Kennecett Ceppar.. 28ft
. KsystensT R.. 16ft
Kresr R S...,....l37ft
. Lackawanna Steel.. 47ft
wive jrie & west.. 14
?oei! fRrTlrs.. . 2ft
?9? H Leh lh Vallat- nail
1? 13 Liggett A Mi'
700
100
400
100
300
BOO
300
tee
700
100
100
100
S00
100
tee
100
3700
2300
200
300
200
100
300
tee
2200
100
tee
13800
100
400
100
100
1000
200
2 Liggett A Hvm " ' I An
Lima LoeomotlTs.. 103ft
7 Lima Locomotive pf102ft
: ?;' c 13ft
1 Left Candy lift
7 Louisville A Najli. 113ft
Mefntyre Per Mine 14ft
fsnatl Sugar 30 ft
Manatl Sugar pf. . . . 80
7 Manhat Kiev guar. 41
Msnhst SThlrt . .' ... 33 ft
. Market at Ry pr pf 36
Market St n- d pf lift
2 Mftrlln Oil .. ..... 23ft
Martin Parry 28ft
Math AI11I 32
Maxwell Class B.., 13
K Mexican Petrel . ..125ft
27ft
Cerp.. 13ft
17M ,w Mjmicap.er
'700 m Middle States 1
Midvale Steel 30 ft
. Minn A st Leuis.. . 74
Me Kan ft Tck (wl) 114
Me Ksn ft T (wl) pf 32ft
. Missouri Pacific.... 22ft
; Me Paelfte pf 84
7 Mentana Power pf . 105
Montgomery Ward. 15ft
Mulllns Bedy 27ft
J;t Cleak A Suit.. 40ft
; Nat En ft 8ta.. .. 40
National I . atu
R R of Mex 2a pi 3ft
i icJlren copper.... 14ft
N O Tex AMcx.... 62ft
B NSw Yerk Central.
, TC ft 8t L...
1H
,'4
ft
ft
ft
ft
1
1ft
ft
1ft
ft
ft
.
ft
lft
ft
' ft
ft
ft
ft
ft
ft !
ft
i
ft
1'i
3
ft
S
ft
ft
1
1
l
ft
ft
ft
V
1
ft
ft
ft
14
ft
lft
ft
ft
1
ft
ft
ft
2ft
1ft
ft
ft
ft
3ft
ft
2
!4
ift
' ft
ft
ft
ft
ft
ft
79
200 2. a v.-i-S.-i":." '.7
Annrt " V. lur heck.... "S-a
7 Norfolk ft Western. 99ft
2 North American etfs 37 ft
7 Northern raclfle... 79ft
Okla Pred ft Ref.. 2ft
Orpheum Circuit.... 13ft
Otis Steel pf 46
2 Owens Bet Medi.. 32
. Padfle Dvst Cerp 7ft
. Paclfle MrII 13
3 Pacific Oil 48ft
" Pan-Amcr Petrel.. 56"2
Pan-Amer B 51
Panhandle . 8ft
2 Pennsjlvanla R U. . 33ft
.- Penn Seaboard Steel 7ft
6 Peeples Oas Chicago 73ft
.. Peoria ft Eastern... 164
. Pere Marquette .... 26ft
6 Pere Marci prier pf. 69
Philadelphia Ce 33
7 Plillllpe.Jenes pf . 89ft
50 Phillips Pet 34ft
.. Pleroe-Arrew Moter 18
. . Pleroe'Arrew Met pt 38
200
300
200
500
200
100
1600
100
100
700
2800
2100
100
1600
2100
1200
600
100
100
200
100
100O
6900
4600
60O
100
2200
. Pisree oil
C Pitta Ceal.
. Ptttn TV-eat V,
'5 l's Pend Creek Ceal
I JUU
100
400
2300
1800
7ft
61ft
28
13! i
Pressed Steel Cnr . 67
Producers Refiners.. 26ft
4 Pub Service of N J 83 ft
5 Pullman 117
. PUnlR AlcivrA CtMCfif Ai
21600 2 Purs Oil '. 31 ji
300 . Pure Oil 101ft
100 Railway Steel Sprlnr 98 .
500 .. Ray Cen Copper ... 14ft
700 4 Reading 73ft
100 3 Reading Id pf 46ft
300 . Rem Typewriter.. . 34ft
300 .. Rrm Type 1st jt.. 64 ft
700 . Rcplogle Steel 30ft
3300 .. Repub Iren ft Steel 50ft
500 .. Repub Ir A Stl of.. 77!.
iwe . Rebert Reis & Ce.
2000 C'i Royal Dutch N T
1000 .. st Leuis San Fran.
100 . st I. San Fran pf
400 . . St L 3 W
100 . st L Southwest pf.
300 . . santa Cecelia Sugar
uu . saxen Moter
400 . Heabdard Air Line.
700 . . Seaboard Air L pf .
1600 .. Sears-Roebuck ....
.1600 ., Seneca Cep Cerp..
6000 .. Sinclair Olt
BOO .. Slest-Shcffie.a . ...
100 . . Se Perte Rice Sugar
nue 6 southern Pacific.
500 .. southern Rail ...
100 . . Southern Rail Pf .
700 4 Standard Oil of Cal 95 ft
866 1 Stand Oil of N J pf 114ft
200 , . Stremberr Carb . . 42
21600 7 Studebaker 99ft
900 . . submarine Beat Cor
200 . Superior Oil Cern.
100 .. Superior Steel. .
300 .. Sweets Ce of Amer.
3200 . . Tenn Cep A Chem. .
4300 J Texas Ce
500 . . Texas A Paclfle . .
800 1, Tex A Fac C A O.
10ft
52ft
28 ft
50
27ft
40 ft
3ft
214
4ft
7ft
68 ft
14ft
21ft
35ft
53
84 ft
20ft
53
64 '4
140
10ft
9 ft
28
3ft
10ft
43ft
31ft
26
ft Tex Gulf Sulphur.. 44ft
. . Third ave 20 ft
6 Tobacco Products.. 60ft
. . Tel St L A W Uer B 26ft
.. T StL Wpf SerB 33ft
. . Transcen Oil ... . 9ft
3 Twin City Rapid T. 41ft
.. Union Oil 17ft
10 Union Paoltle 131ft
4 Unlun Paclfle pf . 73ft
.. unltea Alley steel. i
.. United Drug..
8 United Fruit..
. . United Rwv Inrst
. . United Ry Invest pf 27Ji
6 United Itetall Stores 45ft
. . V S C i P A Fdy. . 31
IUBCIPJ, Fdy pr 65ft
..US Exprtss 6ft
..US Feed Products. 4ft
. . US Ind Alcohol . 48ft
7 U B Ind Alcohol pf 95
. U a Realty A Imp. . 60 ii
. V S Rubber 60 ft
ft U S Rubber 1st pt. 101ft
R U S Steel 95
7 U s Steel pf ... 116ft
2 Utah Copper . 63ft
. Vanadium Cerp. 364
. Va-Car Chemical . 34 ft
. . Va-Car Chemical pf 72
6 Va Iren Ceal & Coke- 46 ft
. . Viadeu Inc . . . 8ft
. Wabash pf A. . .. 23
1 Weber & Ile'lbrener 12J'
. Western Maryland. . 9ii
. . W Maryland 2d pf 16 ft
Western Pacific. . . 19ft
7 Western Union Tel 94ft
4 Weitlne i: A M ... 81
4 White Moter 39 ft
. . Whit Oil Cerp . . 9ft
Wick hpm St Cerp 14ft
.. Wllls.Oerland ... 5t
Wllljs-Ovcrland pf 29ft
. Wilsen A Ce 39
7 Weel worth V W pf. 119
4 Worthlnpten Pump 46ft
worm pump pf B 60
Ex-dlvldend
Lew
28 ft
IDft
136ft
46
13
29 -
28 ft
39ft
165
99 ft
102ft
13ft
lift
113ft
14ft
50
80
40 ft
33 ft
36
lift
29 ft
28ft
32
14ft
123ft
27 ft
13ft
29 ft
7ft
lift
32ft
22ft
34
105
15
27 ft
4014
37 ft
89ft
3ft
14ft
62ft
78ft
62
29 ft
16ft
99 ft
57 ft
79 ft
2ft
19ft
46
31ft
7ft
13
48 ft
56
51
8ft
35 ft
7
73ft
16ft
26ft
'69
34ft
89 ft
33ft
17
61 H
27 Ji
18
66 ft
26 ft
82
116
40 ft
30 ft
101ft.
98
14ft
73 ft
46 ft
34 ft
64
30
49 ft
77
10ft
51ft
28
50
27 ft
40 ft
3ft
1
'7
67 ft
13ft
21ft
344
55
64
20 ft
53
93 ft
114ft
42
98ft
4ft
5ft
28
3ft
10ft
45
31ft
26
44ft
20 ft
60
26
35 ft
9ft
41ft
17 ft
131ft
73 ft
2B
63 ft
140
10 '4
27 ft
44?,
29 ft
b434
6ft
4
5ft
95
60
58ft
lOl.ft
93 ft
116ft
62 i
354
33 74
72
46' 2
8ft
23'
1274
I 9ft
16'i
19'4
94',
56 ft
39
9ft
14ft
Rft
29
1.
119 '
46
66 ft
1.80 Net
P. M, On.
28 ft 4- J
16ft f ft
137ft .
47ft 4- 1H
14 4- 1 ,
liT iS
103 4
102ft 4- H
1314
lift- V
113ft4- ft
14ft- '
50ft- V
80
40 ft - ft
33ft- 'A
56 4-
llft-1- A
SB? S
?52 4"K
12s
27 ft
13ft - Vf
30ft 1- J4
7ft- 14
11 ft 4- J4
32 ft 4- ft
22ft H
54 - 'A
103 ! 1
13ft ..
27ft- V
40ft- 1H
40 2ft
894
3ft
14ft .
62 ft 4- V
79 -r V
62
29 ft 4- 14
17(4 4- ft
99 ft 4- Va
S7ft 4- 1
79ft 4- ft
2W4- a
15H- H
46 1 1
32 4- 'At
714 f ft
IB 4- ft
48H4- 14
56ft 1,
51
Bft
33ft ..
714 4" 14
73ft- H
164 4- ft
26ft .
69 - 1
33 4 ft
89 Ji 4- ft
34ft 4- ft
17ftt ft
37 ft 4- 2ft
74 4- A
61J4 4 ft
' 28 4- "a
1014 f ft
674 4- 1W
26ft - 1ft
83 ft 4- ft
116ft 4- 74
40 - ft
3054 - ft
101 -t- ft
98 4- 1
14ft - ft
73 ft 4 !i
46ft ..
34ft 4- ft
64ft-I- 1ft
30 ft 4- lft
50 ft 4- lft
77ft-t- ft
10J- 1ft
514- '4
26
50
27 ft
40 ft - ft
3ft 4 ft
2ft 4- ft
4ft - ft
7 - ft
6774 4- ft
13ft- ft
21 ft - ft
35 ft ft
35 - 1ft
84 ft
20ft -I ft
53 -t ft
95ft .
1144 4 ft
42
99ft r ft
5 - ft
5ft ..-
28 - 1ft
3ft 4- ft
10ft ..
45ft - ft
31ft ..
26 I
44 ft'- ft
20 ft -t ft
60ft ft
26 ft
35 ft
9ft 4- ft
41ft- 1ft
17ft 4- ft
131ft 4 ft
73 ft
26 1 ft
64ft-!- 2
140 - ',
10ft ..
2774 L ft
45 ft J ft
29ft- ft
65ft r 'ft
6ft- ft
4ft i- ft
48 ft 3
95
60 I ft
39ft 1 ft
101ft 4 ft
95 f- Ji
116ft
03 ft
36ft r ft
34 f ft
72 r I
46ft- 1ft
8ft
23 ft 1 ft
1274 .' ft
9ft- ft
16ft- ft
19ft -r ft
94.
56 ft .
39ft 4 ft
9ft 4 ft
14 ft
5I-.
29ft r
39
119
46ft
60ft -f
ft
tarty
DctmbT
Sk
Raw Sugar Market Steady
tw Yerk. March 6. The raw busar mar
r'erday .uu-resatBd 200.000 biua cubes ter pajable April 1 te ateck of raoerd March tit
411 ..'paranea ana arrrmrm "t --i. t.i .
ftra In addition, eparata
! for March hlpnjM at
DIVIDENDS DECLARED
International Motertruck Company euar
11.70 an nrat ana secena prricrp 1
,, .--.- --- . - -. - tuinp aira un ueiauiiiv, (iumiivii. M
frelsht. . te NW XerK ana omper. rj , b Apr, SB tu 8cl(. of mer1 JIarch
aaaidun. ui'"",.-,-,,"-n -" u;iu
a treisn
h for March ahlprrNm at liUc epai and
f int? and modarate aapa of Cuba for
ih and Aerll shipment te.fcurppn werd
n f. nt 1J8 nu, ' .'
t.'nlleil Klnadem.
Amer. Sugar Refining Reports Less whi'?'
Thd Aniriran Suaur Uftfinlnir Ce Dany rr , n,h.. ir. th Amerlcan Sucar Ht
aid lis domestic cennt!t'i"iit (enrpunlas n ,. rnmcanv: TiOOO lairs Cubas te. the-
lem en operations of IJ.ln Jitl rhi report ,, Vi..,rui. r nreihera. 000 bava te the tradM
Ra th sunilui ilrawti upon fur IS,- , An WaVa Perte H'cea te the National
111 3fl' 'e muni ep-ratlnir Ipisaa arri te rre- ' "' nJnnlra Company, and 12.001) bra
IJe fr dHlilamla dflartd. Tha eper.iilntf Sr IJomlnaea an route te Can4d4 The
os wrre the raiult of eteatlllv ilicllnltu M. i.fln-d market la uechanacd at S.lOe
nr'f In tula rapect. thii rpert haa i T..nJ Ma V Mr cent for cah
iia.tli! from th upheaval of 1020, the sear 1 - V
ii.'M uhh nnld te 1b without DLralUlfl tn
i r. rntira h'mery of tli un.npany 'I In tetul
'.innace of ihe company aiuald that of the
iat l-fore and tha volume of Imiincn'i
nmnunted te $140,000,000 The sum of atl
701. HOO wax uufcd from roiern net up in
tormer cara te meet bad Recounts arrt In
n'er ienhia of tha year. 1,'he halai)' nt
urpiui and reerve amount te eer ii'j
nod oeo.
Bank Closes Doera
n pfaftrred
of record
LIVESTOCK QUOTATIONS
.JCMF"?' . March S CATTLE Receipt,
seen had. Ucef ittwn nctie inertlv Htadv.
Tep bef atecit, IP 4'i; bulk, $7.7."i1t S.rtli
jIib ateck nnd t-al ral.- tren te higher:
bulla ateckra and feed ra steady
iftU99lT"RelptB lr,'00l) heat1' Hieadv te
IOc higher than jctrdey average, lighter
WMEhta aetlve and up meMi ethers slews
U?. !"..? hQW"K bck- Tei 0 en
170 te ISO pei.nd averaaea; bulk, I1OO0V
. .... ib iruuy iu zee lewer: nulle da.
ie iw te ju peuna, viu
tuna. Iioniedfl. Mm
Slrenspr welshta up te 110,80.
ie. ana hi n.i...
Siieralls; ateady; fat lamb te cits butch
alrabl
faHKKP
-itareipta,
CharUrg Filed
. i..i viirrh a. A (halter ml Alad
i h Slate Department today for the Cal
I "li'. Finance and Tradiiur Corporation,
ital 110.000,000. aulnerlilne It te ean
Kill;
d a luftn and brokerage bualni-M Jehn
c,y Han Kraiiclace, I ena of tha Ipcer-
ter inireasa In Pll of tha VVhlla
e Company. New Yerlt city fruin 1100,
IMOW te riiel.600.000 wi authorized.
Oklahoma City
nkinhnmu III,. March H.rhfi uiikin.
Haie Hiale ricnk the only Slate bank In the i . ..... , ,j ,
city, tleted 4' doera today with an announce. . QintanamO Suflar Initial Dividend
ment thut li nlTulri. had. been placed In Ita " ... . u e n...,t.m a.....
uanKin uiptriment ter1 ' et, "V.i"i .ii.iSi.;5 - i iW I
"tatemant la.u-4 by Hey hi 4"nte"P"&l&3i&.
0.
J C. Tenney Company. Quarterly I 75 en
preferred, tayah!e March II te atecn of
record Mareh 20.
American Window dlata Machlns Cem-1
paar. quartarly ll.DO en common and II 75
CU. UUIH l7uiv Alilll l III FIDC4 I
March 14.
California Petroleum corporation quar. ,
tarly tl.75 en preferred, paiabl April l te
stock of record March 20. :
Hnmeatake Mlnlns. monthly 20 cente pay.
abia Mareh 35 te ateck of record Maren 21).
Pittebunrh, Ueaaamer and Like ttrin run run
read, aeml-annual 1'4 par cant en commerr,
parable April 1 te ateek of record March in,
A. H. Krca a. Ce . Quarterly It. tr. n,.
Pteferred, payable April 1 te ateck of record
Marrh 17.
Manhattan Blaetflc supply comeinv qUar ' BUBUJ' anu i.AMJiHiucn'pta 200 head
teny f en common, srasi Apr i 1 ie eteaey. .' 5.""'. aa.eu: tup amh iin
ateck ef record March 21. ' CAI.VBB llec.lpta, 06 head. Jtiirhcr
United She Maehlnery Company. Quarterly ,Tep. tl8,B0. """'
or ivi par com en preierreu aiiii nity cants
en common, both paiable April & tu eteck
nr rarnrd March 14.
Bosten Klevated. quarterly tl 97H en
common, payable April 1 te ateck el lecerd
March IT. , .
General American Tank Car Company,
euartarly, tl.TB en preferred, payable April
I te ateck of record Mareh In
era. early 110: paekera IIB.78. fall nhcrn
"" '"";. Vv -: i-oierauo wooed
ljarllnga, 114.23: fat ar-ea, l8 7."!: soej
80-pound ahearlnr lamb, $14,
. ntUbersh, March S HOGS necamia
loeo heu. Higher HeaMs, surfem
, Tr.. hvv vnrb. iiiMia ., .. -L. :
'11.70; heavy yerkera
B1IKC
riandp.lea.lll.llSCn.i
m.ut, light yerk
Kl Hi JPA- M.rch 8 CATTLE n..
,r buir,- u.Vd ";.orekirVr:c..? a,.r?y
ltOt vaa.1 calve. low, Itaadyj practleal Bl0nln,' r "nt. '" I!
..-..-- . ...-- ..... invnrmini M.i,.nnnia..... . i 1 1
.. i, , ...-... m.. ,. j,.-l"",l. "u. ,un,i v inn BAB ai. .. Z i
hands of thj Stale uanKin liipiriment for' w aera. " :. Ji,".S"'3";y".,"W"i "'""i.. V V.'iJW ?i". 170 te 200 rinuntf mnn OILVCK . -aaB-J
ml Natinna Bank waiSJit'-VS"... stat.8". Sffli?.yien,.'ry ftsen r.f.rr.d.l.ecV:,fujr,pkid .np. iank cliarinqs KSaiaaK"m.,tiWh.raV0J2 T?raV5ftreliyiMau"4 n N.W I i
ku iNaueriai dehk. w-jceii .Kln V',nr Vh'lLK -pm " compared ith cer- ljjgsr ,0 ,,rcn" - m.We.UR 9A! tifeftfafbHr&ixs&"v. B-J.JJ. n ""II
of Philadelphia isre..w iiWh r&""L&SM r"w"" wS" tw0 ISJI" mi r.S-jM'w8,.U'ia.,j '' "" u few,r 1? 8 p rrcdciick Peirce 1 '
IN LOCAL MARKET
U. Q. I. 'Reached Nw High.
Urgent Demand for Union
Traction
The pronounced strentth of
etrff t rallwar stocks and U. O. T.
th
wis
the outstanding derelepment of the le
cal market, 'U, O. I. was In active
demand at the outset, making n new
high record. for the year at 43ft . There
km also continued active buying of
P. It. T., which, selling at 20, cqnnlcd
the hltli market made a short time age.
The rcnl feature, hewerer, wa the
urgent inquiry for TJnlen Traction,
which mounted ever a point te 37T4.
There was a block of 1000 shores of
P. It. T. (e change hands at the top
price.
The buying of Union Traction seemed
te be Influenced te a Urge extent by a
belated recognition of the permanency
of the gunrantced dividend of 6 per cent
eneuid the poney of Mr. Mitten ee car
rled successfully through. Frem n
strictly Investment viewpoint, the stock
really Is far out of alignment with the
rest of the local dividend raters. Even
at today's high price the stock returns
ever an 8 ner cent Income, which is al
most double that of ether local share
which recently have been given con
slderablc attention. If P. R. T. can
earn and pay a 0 per cent dividend, the
dividend en union 'l ruction becomes ni
most as nafe as the coupon en a Gov
eminent bend.
As te the question of the lease, which
question bobs up every new, and then,
two things must nlwn.v be keet in mind.
First it was writtcu by a layman and
net drawn up by a lawyer. Hence
thlmney, sub cellar, doers, windows and
ventilation screens are all strongly bar
ricaded. Then tlis courts have paused
en this question several times' and esch
time declared It be unbreakable. The
only danger that ever existed was a
possibility of I. R. T. ilefaultlne. If
P. It. T. It te pay 0 per cent, divi
dends that danger is forever eliminated.
In the general list results were rather
mixed, there belng about an equal di
vision of gains and declines. Peunsyl Peunsyl
enla Railroad remained firm at .lu'j.
Electric Storage flattery fell off a point
en light sales. Few odd lets were re
sponsible for a fi-peint decline in (tank
of North America warrants. American
Stores preferred wan point better.
Drill was 3 points higher, while Yerk
Hallways eaaed off 'i points. Phila
delphia Traction, following the rle? In
the ether P. It. T. underlying issue,
wk up li points at US'.-. Heading
Traction showed a gain of 2 points
from the previous sale.
Philadelphia Stocks
1 16 Nat
High Lew P.M. chf
10 Am Stores
1st pf...!23i2 lull's 123 V4 Yi
100 Am Ship &
Cem .... 14f;J tl"S 14r)s
2C0tAm Weel 87TJ 87!$ 8"--
VJ. Hank x A
war w I. ("5
405 Ilrlll J .. 40
aotCBen Mtrs TOM
lOOtChlle Cep. 17 i
IWTCiid nn
Sugar... 12-ii 128 12 U
70Blec Bter.l4t 145 145 1
Mt Fain Plnv 83U 8.-J7: S:tTf,4- 0
00 Gen Asnh. flPTs
20tlnter Jltrs ill)
nefKelly-Spr 48
70 Lake Nup. i
ui)
30
7s
174
r5 5
40
17'4 r- V
10 Leh Vel.. 51ni
lOOtMex Pet,.1247 124
32 l'enn uent
Llgh pf. 541
&m
Oil's HUM..
20 20 1
43Ti 4!'. 4- 1,!,
i-'j'g ;i
pr. 04'
lit 351
380 Penna H
I0PhilCecpf37Ji H'Vi
5!
3 ..!
541 2-
.15..,..
37i
2731 2751 h
Sin 23T5 H
JC5j
i Vi
08
1BH
30Mi
1V.
C-'K-f-H'-3H?.
Ii2 f-2
84i V8
381 Phlla Elec 38,
007 ue pref. . ais
47 dewarfp27'i
1070 Phlla It T 2(5
8 Phila Trac 05i
lOtPureOll.. 311 J
50 Read'c Tr 22
BOtStudeb'ker U8:)g
20fSeuth Pac 84 H
400Tbne Hei. 1
383 UnlenTrac 37$
427 U 0 I.... 43;
BOO de pref.. 51 U
115W'.Ter & S 2n(i
38 Yerk Ilwy. Iflv.
INet chare mada by comparlaen with laat
tale en New Tork Stock Burning
PnilADRLriOA BOKDQ
3000 Liberty 1st Si-is 47
7000 Liberty Ir-t 4s '47. , .
500 Lllx-rty 2d lUs '42 tct
2000 Liberty 4th 0 ,s '38. . . .
3000 Victory 4-s '23
500 Ami' lss tt Elr-c 5. . .
aOOAuier &as A EiecCs. ...
1000 Hell Tclfphone 7h
1000 Lehigh Nnv rens 4.. . .
1000 Lahlxh Vnl 4,h '2:t .. .
0100 Phila Electric 1st Gs..lets
37l
Vi 43 Ve4- V
7 nir '
20$ 2 e: :
10 Vi 10 1&
ftfl.84
07.32
00.80
07.50
100.40
S3al
S4
107 Ts
iw
ai I'hlla Electric 1st 5s..luts K
4000Philn Electric fm....lets 101 V,
0000 United Railway) 4s 55
1000 United IlnilwnyH 5s S2'i
300 Welsbech 5b fS
FOREIGN EXCHANGE
New Yerk, Mnrch 8.- Pelitkal un-ccrt:iiiitle-(
and laiper effeiings el coin cein
mcrclnl bills, in connntlen with ix
ports, were respenslbli- niraln at the
epcnlup of the lorelgu exthange mnrket
loony ier niruier icf lines te new low
I points en the immediate movement iu
ithc ulllcd exchanges. The neutrals
Uheued irreBularlt). with eme .lmrn
sains, as iu the Inst dnr nr in,, 1!,
some of the Scandinavian' fch.ingc',
By the end of the firat hour thn mn.
ket had developed further weakness and i
declined te new low levels en this re-1
action. Sterling uliened n net In,s of
1, francs wre off 2 points and lire
lest t points. .Marks were unchnnjred
unc raicH 10 low : htcrilng cables l 30
demand 4,851...; fianc cables f)')e'
checks 8,S1: Ihe rnhlen 1 0 diprki
4.01; marks, .at-7,.
Montreal exchhngc shows further re
flection of the continued decline in ster
ling. The premium en New Yerk funds
there today rose te Jij per pPnt 'n.
discount en Canadian funds in" 'w
terK rose te -i-'H per c out . Thj9 H
mere than 2 per cent abec the discount
L4itlA nvisiiu nwikl U(U
uenirai European exchanges weie:
Bulgarian, .72; lluinanlun. .70; gerJ
blan, 1.42: Czecho-Slenklnn. l.t.
Greek, 4.05: Polish, .0230; Kliinlsh
2.10; .Tuge-Slavian. no aiietailnn ,'
quotation.
TEaTBRDAT'S CLOSING QUOTATIONS
liemnnd
Die .
Ca
TODAT'fl
4.3?' ,eK4 g.gj'
OPKNINO QUOTATfOVa
i rJr . " f' '"
..'M'-Vi,,
il ,"4
, tinT,
i- $
Reading System ,
a
Delaware & Bound Broek R. R. Ce.
3& Pr Cent First Mortgage
Geld Bemb
" Due Auguat 1, 1BS5 V'
Free of 2 per cent, of the Nermal Federal Income Tax
Tax Free in New Jersey
Forming part of the threign main line efUhe Read
ing System between Philadelphia and New Yerk, the
31 mile of double-track read, en which this closed mort
gage of $1 ,800,000 is secured by a.first lien,, at the low
rate of $58,121 per mile, extends from the Delaware
River te Bound Bfoelc, New Jersey,. with a branch
from Trenten Junction te the City of Trenten. Out
standing since August 1, 1905, and therefore well sea
soned, this issue is guaranteed principal and interest by
the Philadelphia and Reading Railway Company.
Under the terms of the lease te the Philadelphia. &
Reading Railway Company 8 per cent dividends en thn
$1,800,000 capital stock of the Delaware and Bound
Broek Railroad-Company are paid annually.
'r Circular Dttcribing Thit lane en ApptUatien '
, Price: 82 and Interest
Te Net 4.55 Pr Cent. .
Biddle & Henry
s 104 Seuth Fifth Street I
Philadelphia
Tha Information and alatlatlee contained herein br Urn
obtained from sources which te belleve te be rellnble
vr
OSJSVeaasyfraaBrBaBBM
Assistance in preparing
Income Tax Returns
Yeu are cordially invited te con
sult the representative of the In
ternal Revenue Bureau assigned
te this Bank for assistance in
preparing; and .filing Income Tax
Returns.
He is stationed at our Main Office,
15th Street Ibelew Market Street.
RiMeurcet evw $14,000,000
Franklin Trust Ce.
Main Office: fifteenth Street below Market
Delaware Ave. t Market St. Fifty-second & Market St.
Germantown Ave. above Chelten Ave.
"Tht aiiifalitn Tkt Ctvt PhUaitlphia Day ant Night Strvict"
OPPORTUNITY
IS OFFERED
Te a man of affairs xvhe has
vision te recognize an unusual
opportunity te put some idle
capital at work in a syndicate
new organizing by men of na
tional repute and whose bona
fides are undoubted. There will
be an unusually large return en
the money invested by mem
bers of the syndicate. Ne at
tention will be paid te replies
by brokers or agents.
C 228, LEDGER OFFICE
issssaasassasasss ij.'jjrjf M"inii,
I "" - "i
FIRST CLOSED
MORTGAGE
15-YEAR 8 BOND
Yielding 8
Business t.itnblliilied 1S40
Security JP87 per 11000 Bend
Karnlni-s from 1? J 7 te 1921 three
times Interest requirements.
.SlnklriB Pund preids retirement
twe-tlilrds Issue at maturity,
Circular A. B en requett
Fairman & Company
Drexel Building, Phila.
JCatkMltbed 100?
Correipendenfs
Lawrence Chamberlain & Ce.
: I
31 MCW YOItK
Uemanil
Cable .
Siarljns Krancs
' .i"H 4
H-.
4.UD'
8 S'
Lire OulKicrii I
4 fil .17.110 1
MONEY-LENDING RATES '
VKW VOHK Menev ..i. t...
of callateral. nptiifrt today at 44 n.,0:?
for lendln ana rwming. p,r cn
PHITADKI.riIU Call. 5 r ,... ,,
R Per cent I commercial paper? IhA. ilnJiV
menthii 0 per cent. "" ""'e te elx
ALTIMORE A OHIO
Railroad Company
liquipment Trust 6 Notes
Yielding 5.75
Edward Lewber Stokes ft Ce.
;' Hiigu
The Twe-Most
Important
Things
in selecting your 'bank aie
tJonvenicnce and Stability.
The banking btiaiincss lifts
changed entirely irem thf
days of the early Italian
methods, where cxclusivo cxclusive
ne.s prevailed, for at thu
present time the banker
who is of benefit te his cus
tomer must come in per
sonal centnet with him, and
be available for advice. All
the modern methods arc fei
conserving time and ex
pense, therefore cenveni
ence owns a very important
part in pur daily transne
tiens, and n connectie
with a stable and censcrjj
tive bank which pract,.
liberality and is in i'-.
cality where one gccR,ni
day in the bank for -,f. "v
business man. Tlnrl"t
offers you these irtanl
opportunities.
WcAreintheCenttefni"9'
Opposite Dread S Statlen
Third
NatieiUl Bank
Or," " ,
y
i
'.
1 - "A ' J1 v' ' f
, m fa'id
?wvfpxy f '' "
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