tmm
MiIB
u'-a T-r. nBae? .
'Tu
WMtw&
wj;' 'v ' -, J -v , , h U' SKif'"''
RAM
hk.ww.?
Ii$i3
mmm
JCJ V JjiXi ill it XT C J!! in i jrji mTjyJ
ii' iii m.i h f i i aua . Kai m i aiai . ' " mm
---i-JiaJaaTa4aaTaTallatalBtTaatar
aTaaTtaTaaTaTaTa,BBa'B,esjBTaaaTaaa?a?aa . T . t-j-.yi vlTi-r i 11 .,"P
v... .
L-i;Li-ii..J
r iin kPnumni
, in uui iuu n
:.
V
iuylvmia Edisen
Company
lativ Preferred Stack
Uh Dividend SB ner Share
THK MARKET
, The Pennsylvania Edisen
referred Stock has been sold
In a score of financial center,
and it is our opinion that its
wide distribution will create
a market for the stock. Appli
cation will be made te list
the stock en the Philadelphia
and Bosten Sleck Kxchances,
ahich will add te the facilities
for trading.
We recommend the Pre
ferred Stock, te yield 8C,
because it is protected by
large assets, ample earnings.
1 and should enjoy a geed
I market.
Shall wt tend you information?
Jehn Nickerson, Jr.
1 Broadway 314Ne.B'way
Hew Ycrk City St. Louii, Me.
Province of
New Brunswick
eVt Geld liends
Due Jan.'lG, 1932
Principal nml lntctt
, payable In .New Yerk
New Brunswick, one of the
eldest Provinces in Canda,
is wealthy in agricultural
and ether natural resources.
In 1920 (the last year re
. ported) the agricultural pro
duction exceeded 86,000,000,
or about $230 per capita.
The Province itself owns
mere than 7,000,000 acres of
crown lands havinc an osti esti
'mated value of $50,000,000.
Price 100 and interest
Payment in United States Kuntfi
Write for Circular P-31
Weed, Gundy & Ce.
Incorporated
14 Wall Street, New Yerk
Terente
Londen, Ena,
WE OWN AND OFFER
Strawbridge & Clothier
6, 1937 100 74
Philadelphia Electric
6i, 1941
Te yield 5.85r'r
Duquesne Light &. Power
7js, 1936
Te yield 6.90
A't lax cjcntrt ut 'chhu.
Widens Biec Philadelphia
Afrmirn rk1l4Jdt.hu ttj
Km Xerk Steti fjutattt
aiWTtOB UUMTN.tt.i.
u
u
City of Easten
Northampton County
. Penniylvanin
Scheel District 5s
Due January 1, 1925
' Tax Free in Pennsylvania,
Free of All Income Taxes
Legal Investment for Trustees
Price:
101.33 and Interest
i Te Net 4'i Per Cent
'ft
''I
k-
r
't-
m
1.
h
i
-'
v
Biddle & Henry
104 Seuth Fifth Street
Philadelphia
r
I
W
-1
s
Hydro-Electro
Bends
Safety Willi
Geed Yield
Write for dchcriptien aim pneo pnee pneo
ef some attractive Hydro-Electric
issues.
Henry L. Doherty & Ce.
u
;(
mte
mi-
m
pA.
Iff'.
l
J .M
Merm Building, Phtla., Pa.
Mr
.UI.CIarkee.
fVaar-s
KSft
BANKERS
VI J, tr-ti.
timi
WjV 21 Chestnut St., Philadelphia
mm
csiauiisneu iej
ra New Yerk and Philadelphia
' Cleck Exchanges
mm
Wm!fa.
BE:
iKjam
life1 ..
I'm
WiSTJEEiJ3& Sens Ge.
.tm.v'M
WomEKns-ctnwnuxTreua
MjmummtiA . tophte
MsVi'2 .
Trt&x .. ;-;'
'! fi k' - ,
SELECTED STOCKS
1 HELD ATTENTIONS
100
103
2600
750O
1000
1300
100
900
100
eoe
100
600
2800
2100
300
500
600
500
100
500
700
200
100
400
1000
900
500
1500
600
400
1200
200
3800
200
200
100
400
8300
1700
1800
2300
100
200
600
100
100
100
200
200
2000
100
200
100
100
900
4200
100
900
800
100
300
1600
600
200
200
100
100
2000
400
100
100
900
1503
1100
400
300
1000
100
1800
500
1600
400
200
4000
3300
300
500
200
2300
1000
100
10300
2200
600
300
200
300
100
1603
5200
130O
1100
100
2800
4300
2200
400
Miner Specialties Again Marked
Up, While Fermer Leaders
Hung Fire
Xcu Yerk, Mnrrh 1-1. Today's stock
iiunrkct were practically the ntue gen
eral characteristics as that of the prev
ious eslen. Interest continued con
centrated In selected or special Issue?,
I while oilier tiremlneut Issues that had
' held n leatlins poMtlen in the construe
1 live movement were jelejnted te n sec-
endnry position. Tlie dny's operations
1 exemplified one fart most pointedly,
i nnd that was the market's digestion was
' till unimpaired. While the selected
I lucs wen beln.T marked up. consider
i iible selling was evident In ether parts
. of the 11m, renresentins both realization
of paper profit nnd selling te obtain
1 fund te make Inremr- tax pnjmenti to
morrow. All these efferlngH were taken
ltlmut hardly eauln.7 a rlpjile.
Continued weakne's of fereisn ex-
i chance, whlrh Is sencrallv accepted ns
i n (lectiiiK the unsettled Seuth African
, situation, had little effect; in fact, lit-
, tin attention was paid te any of the
development) abroad mid te home events
ns well, unless they leaned in favor of
; the plans of the constructive party. The
I renewal rate of 4 per rent for rail
money quickly dissipated the talk of a
I neIbl. mnnev Hurry ns result of the
i heavy tax payments tomorrow nnd ether
larcp (ievernmeut financial operntiens.
Te tin- contrary, the liberal supply of
demand funds save additional enceur-
i aKcmcnl for n broadening of peel nc-
1 tMtles. imperially in the less active
' nnd senernlly obscure luc.. i
, The shifting speculative demand sei
pronounced in recent sessions is entirely
in unlen with various movements that '
Minve been noted in the market since'
'n-r September. Quieting down of trad
ing In select stocks or groups that had
hi en strong and acme has invariably
been followed by urgent buying in ether
' groups. In today's market stocks in
which the greatest strength prevailed
were in most cases Inliuenecd by special
icasens, helped along, of course, by
, adroit manipulation of speculative com-
i blniitiens.
The ruling of the Supreme Court in
the Brooklyn Union Gas case had the
j same stimulating effect en the gas
storks as the similar Consolidated Gas
I decision. While former favorite were
dull nnd relatively unchanged, miner
specialties were active nnd strong. ThN
brought into the limelight surh stocks
us Uesch Magneto. Streinbcrg Carbure
tor. t S. Cat Iren Pipe. Vanadium
Stnd. KpIm Wheel. Neva Scotia Steel
and I. S. I'oed Product".
Commodity Markets
I GRAIN MARKET
J Chicago, March M. Wheat started
a4i te lc lower for May and f'sc te
il',i' off for July. Trade was fairly
active, with locals and Kastcrn houses
'fellinc because of the weaker cables.
.Montreal I
Winnipeg
.Weakness in sterling nnd fine weather
I for the crop. On the break there was
bujlng by rominisiien houses.
Cern Marted 'it te -Vic lower for
May and X,c te ";sc for duly, with scnt
.tered commibslen-house selling indi
I eating long liquidation.
1 Unts opened ifce 10 ,,. c..pr with a
, mixed nnd active trnde. no outstanding
, features.
, AVIifal -
'mv . ..
ijulv .. .
Cem -
May
;.Iuiy
,-rpt. nibr
I Hits
Mv . ...
Julv . . .
1 n
H..I
1 P. M.
. 1.3.V,
. 1.1S-,
. 1.03H
. fit
. bH't
1700
5700
100
8800
8100
2100
900
100
1800
300
100
600
200
900
400
600
200
7900
100
100
4600
2100
400
200
7200
100
100
4900
200
200
200
100
1200
4600
1800
800
5900
100
100
I
COTTON MARKET
New Yerk. Man h 11. The lutten
opening was rather iictiw' today untl
seni'what it regular. .lune was 14
peintH lower and ether months were
ft out "J points efT te 4 points up. About '
seenteen notices wen: issued. W.nll
Sticct nnd tommissleii houses werp I
eail biners. and Liverpool was a'
seller. i 1 1 1 rabies weaker. Anether
drop 111 feri'isn nxehnnse led te selling
bete. Inn some new buyltc nh'erbed
tin offerings and priies inllieil a little
uhew lft-t niqlit's i'esi..
llecelpt- at the ports for the fny are
e'liiii'ited at tl.tif Ml bales, against 'Jl,
l."7 hales n week age. l4,.iK!l bales a
jciir age and -'i.-l!)!! bales two jenrs
age. 1
Ul Ti4a i
n
nni. 1 nrn 1 T. At
Murrli is. 1) is it IT us
Mh- 17. M 17 SS 17.8(1
.Tuli 17.04 17.03 17,1'J
Ih-telKT 111.40 Hi. 11 10 sr
IiftemlT 1. 20 11 'J.l
Janar 10. 0.' MB OS
I1
NEW YORK COFFEE MARKET '
New Yetlt. March 11. Mqindnilnn
mil nude sf lliti bt ought about n te
7 point-, dieline this ninrniug. Kneipts,
iiiiiiuued full nnd tills fenture Ims been
nme or less of n disappointment te
llmse hn have been looking for n
shin p fulling elT hi receipts at Jlle and '
Snnle". I
lier t lie i-nrlv elTeiiiigj had b"en i
iilaii'd. selling slackened up and lix)ii I
I hi' 11 i ir :i I n m e of a few Mattered buy- i
mg enliTs nrices inllieil, September ad-
.1 !i me 7 points le ..". with ether I
.utile i infills up fiein initial figures. I
Tie ninrkit siems willing enough te'
2800
400
100
300
800
300
3200
7.00
7100
6200
3300
230
700
1100
100
1200
600
3100
100
10J
6600
300
600
3100
1000
1700
1700
1000
3400
100
iH" kii ri'iniii le any s(,it or (leniand.
Veil re. Hpn
."In i H'j'u si R 7IIC79
.lu h wjiisi .,7;,
s.pipinlr "MBM s SIOS2
I ) " " r . b M h STSbS
Itiil
FOREIGN EXCHANGE
New Vim li. Maieh II. Following
firther (lei lines quoted from Londen
iln- iiieruiu;:. this marker In feulgn
i.'hiiiige :ii ihe opening was irregularly
li Mr, with some aileneie-i abe1 c je.,.
ti'tdaj's tnnil figures here. 'I'lie move
ments continued somewhat unlent and
llieie were dilfcirnrcK of seierul points
iii the quotations of leading interna
tional banking house.
In the early afternoon the inajket
lelleeteil nun c ciiLOIItaging teperts from
.union assuming the return of order . T""VE "cent' en comme'n. P..bi.
en tin Ittind. The iUotiillens uere : i erll 1 te" alecU of record March is and 114
."-iciling cnhlci. 4 2f)a. deiniiiiil (.21); rer cent en preferred. pebl May t 10
Inin ,ibes S.KI. checks S.S2: lire ""jr.! ,.C rM.nfn.eS l"e . quarterly of 1"4
Mllilc 4.117. checks I !)!)'... , marks, , rr tent en preferred, payable April I 10
'",;!- .. . .. , I "n.Si.nlcomeUvf Company. J.td.. euar-
Tnc .(Vnliiil Li.repean exehnnges I trl5 ilr cent en common and t4 per cent
win. iTiatli- teilni deck ilei-llneil mer i. nrfirreil. both rayable April 1 te atecK
. r . I .1 .1 ...-
"''"
iiii-ch, 1 iti ; 1 .i-i-oe-oiovuhiiiu, 1 it-j;
Pell Hi. .0210; rinnish, 2.0(1; AiiMrian,
.01325; lliingiirliiii. .12.
Tin1 piTiiilunt en .New Yerk fund, in
.Montreal today was -Hi per cent. The
iIIm-eiiiu 011 ('iin.iilinu funds In New
Yerk mis .'! 15-1(1 per cent.
I YI'HTIlllll.W H C I.O.SIN-11 OL'OTA'I ION'S
1 'P
,.!..
per
.t
.' - ,
1 ...... .. . ...,,.,
lljrit
I points ti.itt.-r, pinny en tie political ".VYobaVe r Company of Canada. In
1 ii-iettlcincnl, making 11 total Jee- from I,,,. Trtnidend of 1V twr cent en ordinary,
til" rliiMMif last week of 15 lielnm. The payable March S9, and aeml-annual 3 per
iiiMitallnna iieic; liulgari.in, in.'ic. nuar
Uilinnillail. 7 I U ; Serbian, 1 .38 ; j ,.' u, P.1 '?t cent en preferred, payable April
' tiering iranvii i.ir. mu inern ijin"-" . '', - ;- t. ', -jvil-j r;...u .n
n...,..r.,i j ni. u Kfiii .111,1. .ni r.n .hi. Anr 11 IB te tteck of record March -0,
1,'ables 4 M 8.8! .91 37,30
TODAY' 8 OI'KNI.VtJ QUOTATIONS
m.J. ii r. r l n,.iu...
Ipemanil, .,f 4l2af H.7S "4)S,4 ST.Sil
'table. V".Jl " :" Tiaa t
.TI" .rIi","f,JT.,-"1iS',I?
Barl
U54A
i.zai jJ.r
ttk.vi;"fcHs,isftt' ., ?VR-t
tmmm
ii.ia!.wi'iim)i'iv.Tiv .'ij"iu:-.j. i-- 'Htvs-i
UfLmmmmf'MiiA:., A -.. . t
wmt-,mfWBmrnmMiM&FritfmMV',r -ii.'.i; svx i-n-.n
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv.
Suttn In t
200 .,
tee ..
1 1.V .Net
r. xr. ct.
634 '
16)4- H
STOCK lllah Lew
Adams Express ... 63V 6314
.. Ad vane Itumtly... 16)4 18J4
5 Advance llumily pf . 47 47
4 Air Reduction 32 92
. . AJax Ilubbcr 1Jt WA
. . Alaska Juneau O M I !4 1
.. Alaska Oeld Mlnei. . H Mr
4 Allied Chcm A Dye. 58H 56
7 Allied Chm ft D pf 108H 106K
4 Altli-Chalmera .... 47 i 6
T Allla Chalmtrs pf. 9214 92!
.. Am AgrleChem.... 41 40
. . Am Agrlc Chm pf . 68J4 68J
. . Am Beet Sugar.... 41 H 41 U
. . Am Besch Magneto. 40 Ji 39X
.. Am Can 44M 44K
12 Am Car & Fdy....136K 1584
.. Am Chicle 10J 10J4
.. Am Cotten Oil 26H 23?i
.. Am Drujr Syn 5 5
8 Am Express 132M 132
7 Am Ice 104)4 103)4
G Am Ice pf 80H 80
. Am Internat Cerp... 44)i 44
1 Am-La France Eng. 11 ' .,
..AmLlnseed 3114 31 4
6 Am locomotive.... 1 09 !i 108'4
.. Am Safety Razor.. 7 7Ka
..AmShlpftCem ISJt 15
. Am Smlt 50 50)4
7 Am Smelt pf 93 92H
3 Am Steel Feundrle 33H 33)4
.. Am Sugar Ref 72Ii 72'
.. Am Sumatra 30H 30H
r Am Tel & Tel 12414 J 24
J2 Am Tobicce 136t 136H
12 Am Tobacco B.... 133)4 133!
.. Am Waterworks. . 10H 10H
.. AmWatrwks 6 pf 27H 274
7 Atn Woolen 90)4 89)4
.. Am Zlne IA A Sm'.t 144 13H
.. Am Zinc Ld & S pf 40 38
.. Anaconda Copper.. 49H 49H
..Ann Arber pf 46)4 46)4
.. AHeta Realization.. 2)4 2)4
4 Asse Dry Goods.... 54)4 53)4
7 Aase D Goods 2d pf 78 78
6 Atch Tep ft San F 87)4 97)4
B Atch Tep A.S F pf 86K 86M
. . Atlan Blr ft Atlantic 1 1
.. Atlantic Fruit 4 4
.. All Gulf ft W I S S 31 30)4
.. Austin Nicholas.... 24 24
6 Austin Nlch Inc pf 81 J-j 81
.. Barnsdale Claaa A. 30 30
.. Barnidale class B.. 23)4 23)4
7 Baldwin Locomotive 1 07 ' 106)4
.. Baltimore ft Ohie.. 38)4 37H
4 Baltimore ft Ohie pt 53)4 55)4
47 -52
-16)4
14
H
58 -1064
464
S2K
4-
114
!4
4
4
'J4
54
'4
54
40J4 2H
44 54
15654-1-
10J4-T
23J4-
SJ4
1324
1034
80 44
11
31 V
108)4
7 54
15 -50J4
4
93 304-
12454
1364-
133)4
104 -!-27
39
!4
54
"l4
14
54
14
54
54
54
54
" V
H
154
li
49)4 .
46)4 1
2)4- Vk
54)4 154
78
97 54
86H
1
4 f
-
81 54
30 !
23)4
106)4-
38)4
5554 -r
H
64 !
8-
1154
9 54
89
97)4 -r
126)4-
394
5H
26
31 '4
1 1 ?4 4"
74)4
136
15J4-T
6 -r
36 -704-72J4-35
60 T4 !
34 !
10?4 -20
4254
7 54
18 -23
)
37)4
69J4-
110
40 n ;
174
27 ?4 i-43)4-274
48)4 r
59
7914 -
2T4
n?4 4
" v
54
54
114
6
H4
5
4
!4
. . Batepllas Mining. . . HAftlM-H
5 Beth Steel B 64 63H
.. Brit Em Steel...,. 8K
. . Bklyn Rapid Transit 1 1 !4
.. Bkln RTetfsef dep 9)4
.. Brklyn Union Gas.. 89
7 Burns Bres.pf 97 )i
R Burns Bres A 1 26)4
2 Burns Bres B 39
. . Butte Copper ft Zinc. 5'i
. . Butte ft Sup Cep. . . 26)4
. . Butterlck 31)4
.. Cadde Ctn O ft II. . 11 H
6 California Packing. 74)4
. . California Pereleum 52'4
. . Callahan Zinc ft Ld 6)4
10 Canadian Pacific. .. t36
.. Caraen Hill Mining. 15ft
. . Case (J I) Plew... 6
. . Central Leather ... 36 !i
. Central Leather pt. 70 H
6 Chandler Meters ... 73
. . Cerro-de-Paace .... 35
4 Chesapeake & Ohie 60 "4
. . Chicago & Alten... 5K
.. Chicago & Alten pi 10
. . Phi & B III (new).. 20
. . Chi ft E 111 (new) pf 43)4
. . Chicago & Or West 7)4
. . Chi ft Gr West pf.. 18)4
. . C'hl Mil & St P ?3 '
. . Chi Mil & St P Pf. . 37)4
r Clil & Northwestern 694
8
Ills
84
88
97)4
126
39 K
SJi
25)4
3154
11 H
74)4
5154
654
13514
1574
5H
35
70
72)4
34)4
60
5)4
10
19(4
41 U
7)4
18
23)4
37)4
69 !4
110
4054
17 54
27 H
43 54
27 i
48 54
59
79 54
2Ji
13
7154
50
1
107'4
12)4
59)4
1 03 J4
35
57)4
25
91
15 54
37?4
57
114
1065J
244
3!4
7
145
82)4
104
1714
1154
3714
63H
93
91 '
154
16 3,
'4
58
59 4
70 ',
156
10)4
73
404
27
IB
78
34)4
1254
71)4
3
102 14
75.4
15 'A
37,
40 V
2)4
6 14
II
43
25)4
92
1514
7054
32)4
74 54
59 H
I 2 J4
65
45 54
04?;
17)4
654
29)4
154
20
40)4
25 4
56
514
45 14
95 ?4
28".
16J4
s
54
!4
J4
" Vt
54
v
,!
2J4 I
1 !
f4 ,
S4 ,
54
iui
54
v
H
154
54
54
4
V,
!4
7 Chi & Northwest pflie
. Chi UI ft Pac 'Hi
. Chile Copper 1714
Chine Copper 27 H
4 Coca-Cela 43)4
Cole Fuel ft Iren. . 28
3 Colerado & Southern 48 j
4 Colerado & Se 1st pf n
6 Celum Gas & Elec. . 79 '4
. Celum Graphophene 3)1
Lel Graphophene pf 13J
4 Cemput Tab Itec. 72i
. Consel Cigar pf 20
. Consel Dla Ins Hi
7 Consolidated Gas.. 109
. Consel Textiles.... 13Ji
. Continental Can.. .. 60
4 Cern Products Kef. 104)4
54
' 1 vz 1
50
- I
154-t-1084
12)4 -60
103J4 -35H-f
57J4
25 J4 4
91 I
17 i
384 574-
11454-
106 54
25H !
314 .
7
145 i
8254 i
104 1714
1 1 54 ,
-93
914
1354
184 -
'4
58)4 i
CO J4 -70)4
156 -10)4
,
73 4.
40 ?4
27 -
18 4
78H 35 )4
1254 1
7254 i
3
ie2)4 -;
754 V
15'4
354 -40
J4
214
GH 0.
114!
4354 1'
25 4 1
92 16 I
7154
32 54 4
744
60)4 :
13
65
45 54
65)4 17)4
654 1
2954 4-
154-
K
1
54
4
6300 2' j Cosden & Ce -e
170D 4 Cruclble Steel 58
. . Cuban Am sugar.. . 'j?4
7 Cub-Amer Sugar pf 91
. . Cuban Cane Sugar. 17
. Cuban Cane Sis pf 39
. . Davisen Chemical.. 58)4
fi Del Lack ft Western 1 1 4 H
8 Detroit Edlien ....106)4
1 Deme Mines 2554
DuluthSSft-M . 3)4
. . Duluth Se S ft At pf 7
12 Elec Storage Bal . 145
C Endlcott-Jehnson .. 82)4
. Erle 0
.. Eric 1st pf 17H
. Erie 2d pf "14
4 Fed Mln & Smlt pf 3714
5 Famous Placrs I. . 84 H
le Fisher Bedy .... 93
X Fisher Bedy of O pf 91 3
. Flsk Rubber 16 '4
Krecpert Texas . 19)i
, dasten Wms & Wig 54
fi Gen Am Tank Cur 58)4
. . fleneral Asphalt 61 )i
fi General Cigar 70)4
8 General Electric. ... 156
. General Meters 10)4
6 Gen Meters deb 6 73
.. Goedrich B F 40 ft
, . Oranby Cen M ft M. 27
.. Gray Davis 18
7 Great Northern jr. 78 ?i
4 Great North Ore ctfs 34J4
. . Guantanamo Sugar. 12J4
Gulf State Steel.... 72J4
. . Hablrshaw El Cable 3)i
7 Hartman Cerp. ...10254
Housten OH 75U
tlnnn Motorcar.... 15
54
1
54
154 54
' 54
14
!4
300 .fiO Indlahema Ref.
3
inspiration Cen Cep 40 54
.. Interb con Cerp.... 2)4
. . Interb Cen Cerp pf 64
.. internal Agrlcul... 1154
. Int Agrlcul Cerp pf. 43)4
2 Inter Combustion.. 25)4
C Int Harvester new.. 92
. Int Mer Marine.. . 16'4
r, lnt Mer Marine pf.. 72
Internet Motertruck 33t
7 lnt Mote trek 1st pf 744
T Int Motertrck 2d pf 60)4
.. International Nickel 13
G Internal Nickel pf. 65
. international Paper 46
G Inter Paper pf atpd 65!i
.. Invincible Oil Cerp 1)4
. . Iowa Central 6 54
.. iron Products 29)4
Island Oil JH
. . Jewel Tea 20 !
. . Jenes Bres Tea. . . 41
Kan City Southern. 26)4
4 Kan City Se pf.... 57 54
. . Kansas & Gulf 554
.. Kelly-Spg Tire 46
Kelsey Wheel 97
.. Kennecett Copper.. 29)4
.. Keystone T & II. . . . 16H
4
54
14
34
154
!4
'54
154
5-4
54
54
54
20)4
41
-I 1
26 -i
57 i
5!i-
4554 -954
t
29
16?4
54
214
DIVIDENDS DECLARED
Radie Warning for Investors
.lamei I. Hush,
able Trust Company,
npany,
I W. .. '"ft
velcome ou. They
. ,r".-::..w irrh n
mall be aaietl, net
aiei'l " ir., .A,r.Ant. ..I., ttt von In cKr nlll-
. . a isi.i U rAtMHAnu m 11 a r. .
and iiuarterly both payable April 20 te.
atrtK nf riiierd .March .. '
A ner.an Draka Hhee and I'eundry Cern,
rany. nuarterly II en new common, and 1'i
rairii "s'i i ... n.,.,i ak-ii wi
BANK
Hank ilearlnaa
mm.. ..... - ;..rrH
cent en new pmn;i, ..""! i;"". respeuuing day
both payable
responding day last
,Vr'"1,Vr,n,.e."CemnnSy: Quarterly 1'4 ...,. .,c nni",.
li.'.
',.; V Dr.firrfU. payable Mareh 31 te'V'i'-V fll-X
. ...l kam.h -4 ...i w-u.-v.',v..v
...!... u-.ii I'nmmnv. nuarterlv 12. Dlv
PI in. . -. - . , ,- .. -
Prices Heavy
I'arla. March 14.
the Ileurse today.
39 f 4c. KKchange
. BAB All VER
r-.. . -..
V.A 1...r 1. fy,n tl.V
.or. w, w--. .... .....- -
nn per ceni lean,
quetea ai hi evc,
.. . r
i
. LM..A.-'s . ,:. A&.
MMmM
vnw.itam.s.MQ'j
1 :.10
r. m.
136)4
S6J4
17
334
33)4
38)4
103
14J4
12J4
37
1324
1374
51
SO
3SJ4
3454
40
6054
Lew
136J4
56 14
17
3314
3354
50)4
103
MX
1214
37
152K
1314
51
80
3314
34J4
974
40
60)J
23
25)4
9J4
28
11254
1264
1354
30
10J4
62
54
654
1254
334
2254
3454
15)4
2954
40
174
3574
8954
14)4
63 54
81)4
3154
1754
2254
2314
154
100
704
5754
'43 54
8054
2374
13
23)4
254
137 74
33
7
14 54
4954
57 54
52 14
37 54
754
76
18
27 54
59 54
69 54
3654
344
16)4
8
47 '4
6174
90 54
28
68
2
84 54
117
42
30 S
1454
74
41
73
63
32
51
54
5154
1274
28 74
50
29
44
3
2 -a
4
6 7a
67 54
1354
3954
224
36 54
H5
.2074
32 54
955.
17554
11454
69 7
365,
434
101 14
105
6 54
514
4 5a
2!4
10 74
4354
4374
331,
2614
19 '4
617.
36 34
9 54
40
17 74
1324
7354
IO254
70
1404
1154
32
45 54
325-2
6654
4 54
40 '4
61
102
36
44),
94 J,,
117
63 "j
1554
38!',
DO
35(4
44
H4
7'.
24 ''4
16
1254
10
55)4
83
514
8 5,
1754
4054
9.'4
13
5 74
31 54
38 54
78
32'j
48 14
14
4
riv. 1
Bts In t STOCK Irish
200 6 Kresge S 3 136)4
100 ,. Laclede Gas of St L 36)4
700 .. La ke Erle ft West. . 17)4
IOO .. Lake L"rle & W pf. 33)4
6000 2 Lc Rubber Tire... 34
, 200 3 4 Lehigh Valley 58J4
100 7 Lima Locomotive.. 103
5100 ..LeoweCo 15
600 1 Left Candy 1254
100 .. Loese-Wllea Biscuit 37
100 12 Lerlllnrd Tobacco.. 1524
1200 .. Metntyre l'erc Ml.. 137a
600 .. Manatl Sugar 51 J4
100 7 Manatl Sugar pf.... 80
200 7 Manhat Elev Ouar. . 35J4
300 ZMnnhntShlrt 34)4
1700 ...Market St Rwy.... 11
1200 .. Market St Rwy pf. . 46)4
3100 c Market St Rwy pr pf 67
'?00 .. Mar St Rwy 2d pf 25
100 . Marland Oil 25 "4
300 .. Marlln Rockwell .. 9J4
100 2 Martin Parry 28
200 g j,iay rjept stores ... 1 1 2 54
6300 12 Mexican Petroleum. 12754
2354
9J4
28
112)4-
12754
134
30
10)4
62 4
554 64 4
1254 r
3394 -2254-554
1554-f
29 54-
43001.20 Middle. States Cerp. 1314
2500
2000
Mldvale Steel 3054
Minn & St Leuis... 104
M St P & S S M-. . 62
Me Kansas ft Texas 54
Me Kan ft. Tex pf. 654
Me Kan & Tex (wl) 1274
Me Kan ft T (wl) pf 3454
100
700
300
3800
1400
1200
3800
4400
tee
100
300
3500
Missouri Pacific.
224
55H
Me Pacific pf
Montgomery Ward
Mulllns Bedy
Nat Cleak & Suit..
Nat Cen ft Cable.
Npt Tfti J?. 5tnmn..
1554
2354
40
174
37 54
894
14)4
6354
8174
3154
40
1 74
37
8954
14)4
63 54
8174
31 4
17 54
.12 6 National Lead
S2 Vev Cen Copper...
,i- fi N O Tex & Mex...
2000 b New Yerk Central.
iuu 114 New Yerk Deck.
200
200
100
tee
100
200
100
100
2700
100
100
100
200
110
3200
4300
100
1500
3100
100
1500
3300
100
200
2300
100
200
3000
100
100
1200
tee
100
100
400
200
300
3500
5400
5300
2100
600
1000
2400
tee
100
New Yerk N 11 & II
17 54
2 New Yerk Ont ft W 224
2254
2354
154-
100
7054 -5754-43
54-"
8U4
2374 r
13
2854 t
2)4 13974
33 -
854
14)4 -49)4
58
754
76 -18
-t-2754
5954
6954 -3754
r
344
1654-
854 r
47 54T
6174
54 1-
4 N Y Shipbuilding.. 2354
. . Norfolk & Southern 1554
7 Norfolk & Western 100
4 Norfolk & West pf 7054
3 North Amcr ctfs... 574
3 N American pf ctfs 4354
7 Northern Pacific... 8154
. . Neva Scotia S & C 2374
, . Ohie Bedy ft Blewer 1 3
2 Ohie Fuel Supply.. 28 51
. . Okla Tred & Ref... 214
8 Otis Elevator 1 39 54
2 Owens Bett Mach. 334
. Pacific Devel Cerp. . 954
.. Pacific Mall 1414
3 Pacific OH 49)4
6 Pan-Atner Petrel... 58 54
6 Pan-Amer n 52)4
2 Pennsylvania R R. 38
. Pcnn Seaboard Steel 7 54
5 Peeples Gas Chicago 76
. Peoria & Eastern... 18
. . Pcre Marquette.. . 274
5 Pere Marquette pf. 59 54
5 Pere Marq prier pt 6954
.1 I'hlliilelphlii Ce ... 38
2 Phillips Pet 3454
. Plerce-Arrew Moter I6I4
. Plerqe Oil 854
5 Pierce Oil pf 47 54
6 Pitts Ceal 61 74
6 Pitts Ceal pf 9014
. Pitta ft West Va 28 54
, . Pressed Steel Car.. 69
. Producers Refiners. 2714
4 Pub Sen Ice of N J 8554
8 Pullman 11854
. Punta Alegre Sugar 4314
2 Pure Oil 3054
. Ray Cen copper ... 15
4 Reading 74)4
. Remington Typewrit 42
ltem Typewrit 1st pf 73
.' Rem Typewslt 2d pt 63
. Replegle Steel 3254
. Rcpub Iren & Steel 51 J4
68 -2714
..
8454
11754t
42)4 1
3054 . .
144 -744
41
73
63 1
32 1
51
5)4-
52.
1274 ..
. 800 .
500 .
500 .
16000'
iiepuDiic aioters. ... ',2
Royal Dutch N V. . 5254
100
2600
500
1100
1500
500
400
200
700
900
500
100
16100
200
4200
1300
100
100
200
-w0
00
IU0O
3100
14500
2800
4200
300
6300
2500
1500
3200
1 St Jeseph Lead 1274
. . St Leuis San Fran 29 54
. . s:t I. San Fran pf. 51
. . St L S W It R 2954
. . St L Southwest pf.. 44 54
. . Santa Cecelia Sugar 3
. . Saxen Sfoter 2 ' 4
.. Seaboard Air Line. 4J4
. . Seab Air Line pf. . . 7
. . Scars-Roebuck .... 68'4
. . Seneca Cep Cerp... 1374
7 Shell Transport . . 3954
. . Sinclair Cen OH ... 23)4
. . Sless-Shetnelil 37
6 Southern Pacific 855',
.. Southern Rail 21
. . Southern Rail pf . . 5254
4 Standard Oil of Cat 9554
5 Standard Oil of N J 177
7 Stand OH of N J pf 115
7 Steel Tube pf 70
2 Stewart Warner Spil 37)4
. . htrembertf Oarb. . . . 46
7 Studebaker 10254
7 Studebaker pf 1004
. . Sub Beat Cerp 7
.. Superior OH Cerp.. 5?j
29 14 !
51
29J4 4
44 -j-
3
2Ji -
41, ;
7
G74 -134
3954 r
23)4
37
05 -
2074
52 54 !
9554-
17554 -
11454
70 ,
37)4 t-
4554 r
102
107 54 f-
674 r
554-
454 -
3 I
107a r
44 54 f
4374 I-
335,-
27 1-
194 .-
I
V 1
54 I
It:
a
'4 ,
54 1
. . Sweets Ce of Amcr
. . Tcmt Cen. & F "A"
. . Tenn Cep & Chctn. .
3 Texas Ce
i'l
11
44 5i
437.
100 2'.s Tex. Gulf .Sulphur.
'2
H
14
4
54
10400
Texas te Pacific. . . .
34 54
1100
200
1800
300
2100
300
1GUU
700
100
100
700
100
3100
5400
1600
5100
100
7680
2100
3I00
100
100
100
7200
100
100
700
0500
100
400
100
6200
3100
8900
100
100
800
103
200
1400
400
300
600
1400
700
1200
900
400
200
1 Texas ft l'ac C & J 27J,a
. Third Ale 195.
G Tobacco PiedUL-ts. . 61 J
. 'I' S L .V W pf rll 11 364
Ol V2
36 54
Transcen Oil
954
40 -
18 i
13254 f
73 54 ,'
10254 r
71 I-
14054 -
12 j
32 54 1
45&4 ).
34(4 1
6614 f
6!a 1
49 J
61 i4 -10
Jfa
44 U I
94H J
117
63 J4 J-
1554 i-
3854 I
90 -
35 54 -
44 -
9H -
8!a i-
2514 I
16 -
1254 V
10 f
55i 83 -574
-8
7.
1754 1
41 ,
10J4
13(4
574 ,
3154 I
39 -78
-3!?i
I
4854 -
2 Twin City I!
T.
, 41
, 18
,133
. 7 J Ja
,10254
72
, 14054
. . Union Oil
10 I'nlen Pacific. ..
4 Union Pacific pf .
7 Union Tank Car.
.. United Drug....
8 United Fruit
.. United Rwy Iniest. 1254
.. Unit Rwy Invest pt 3374
G United Retail Stores 4574
.. U S C I P ft Kily.. 34J2
Sl'lll l P & Kdy pf 6b 14
..US Keed Product.-!. 64
..US liul Alcohol .. 49",
..US Rubber 62 14
8 U S Rubber 11 pt. 102
.. U.S .Smelt ft list . 36
:',i U S Smelt ft Ref pf 44 54
.1 I S Ssteu 94)4
.. IIS Steel Pt 117
2 I 'tali Copper . . . . 63'i
.. Utah Sec 1614
.. Vanadium Cot p.... 39
7 Vnn llaaite 1st pr. SO
. Va-Car chonne.il. . . 36'4
G Va Iren Ceal ft CeUc 44
. . Vivaduu
Ine,
93
. , Wabash
, . Wabash pf A
.. Wubanli pf U
1 Wcbcr ft Jlellhteiiir
.. Western Maryland.
6 Western Pacific pf . .
4 Wt-stiUKhuusii Alt .
4 Wcstlngh U ft M..
.. Winding & I, E
8i,
25, '
16
1254
10 54
55 54
84
58
874
.. Wheeling ft L E pr 1754
4 White, Moter 41
.. Whlte Oil Cerp i0)4
. . Wick Spenc St Cerp 1 3 14
. . WlllyfUwrlund ... 6
.. Wlllys-Oierland pf 3154
, . Wilsen ft Ce 3914
7 Wilsen ft Ce pf.... 78
200
700
.. Wlste'isln Central.. JZJa
4 Weitliingtun Pump.
49 "4
Kx-diwdenil,
Raw Sugar" Market
Easier
vlra prealdent of the f.iiuli
New YnrU. .I.fi.-li U. The
of New lurK it-met -
el .eii eirn t-biei- maruei is rneiRwnat i-aner In
cay nddreaseil Ihe radio audience fiein ma-! I'ubiia ter .Manh t,hlpintit uueled 2 5-ltl
feri "W. .1, V..." Newark. N. .1 Ills t'lplc (emu, fest and frclclit, eiiuj te 3,d2 leets,
was "don't believe In llpa: ienult eui duly raid, for April ahlpment at 2H tente,
banka," lie aald, In part; "In the Kiiult.ib'e mai .ind fieluht, viuel te .'l.fts ent!i duty
Truat Company of New Yolk, na In tinny fid. .sali-H yenttrday te lehnTa nnd opera.
of the larger banks, an lniestin-nl depdit-! ters ate entlmuttd ut ebuut 51,000 Imk en
ment Is maintained whete aole hiilnei u the, above busls, nnd lli't balanc of inrKe
la le Investigate and paaa upon Invntir.ent if I'uhaH adeut Uibeut Il.'iiij bnB) heIiI te
aet-iirltleal further. It iicla ae a merchant In 'the "ntluna at 2 5.111 ci'ttts, reit nnd frfluht,
Boe-i aecurltles. nnd It Is. tlieredite, pre I or 'Ai rente duty paid. The lecil rclirit'ii
pared te net only Impart advice, but aim te . inaiket la unchanged with nil letlnera iiuntlitg
buy for uu the Inieatinenta ieu ilnehie en lh) bama of 5. .10 (enia, Ishu 2 Pel tent for
upon. In fact, the banU will help ' im bu' cah.
the came kind of bnnda that It buia (ui Hi
ew-n account, tle te Ihi banka they will
are Intcreated that mnnev . Charters Filed
Hist I ney will help ,. , ., ... ..
HuvlncrH n anuara rlal.'
i'"iri , i.ri,, .uuirii u,- i uniiris lllee li).
dai Hnioilvwe I'reductlni' Int. I0,.',(io. I0,.',(ie.
IM)0. i (induct placa of nn'useinent, iValn-r
A. I'etersiin, I W lli.nner II 11 lliirlen,
New yerk Merit il'H till nnd tins Hi mil'
enle, drill fui, prudui-e nnd market i,l
, .
CLEARINGS
leday remnared with cer
two M'ara
in. i iii.-ii
" . ..,.i,V.-. II.IK It, J'lHIIUII,
,n ,sV',-..' .-. ' .'.-"., '.?:-. ''.'' 'ICI""V-.. " "n'l'" -
i,Vu, T i A ,'Vi'..'VSs I .'."'.'.Th'-J." 5'fl " '. ' ' .,'u'"' ' . l'f .".
..u.,wut ....... vu (u...m.,.w .'it "ilil-niF. nun llTCnt
IlOitlOU.DOU le 413,000,0(10,
en Paris Bourse
rrlcei were hcaiy nn
Three per cent rentea,
en Londen, 48f OBc.
Worcester Rwy. Resumes Dividend
tlc-aten, March J I -Wercenler Consolidated
fitraet nallwnv fl t.r nr. i.p u.,ri B .ii..i.....
n use. roe ueuar
waJf vJ-t!8? e." 4 ha prcferreil Klnrk.
, N. ThJa li the first dividend In
f$A
aC'VlH-V i
aV L'.VJL
m
MdlAJ
CONTINUED PROFIT
Net
cm.
14
4 14
..
..
- H
14
54
"f '
- '
J4
- Vl
- )4
- 2
- 554
I
IT.
U. 0. 1. Alse Offered Freely, but
Rallied When Pressure
Relaxed
Philadelphia Rapid Transit, 17. 0. T.
and Pennsylvania Railroad were the
three leading- attractions of the local
market. P. R. T. continued en tan and
mode a further descent te SWU. or fi.11
a share under the top price of the move
ment. Efferts te cash In paper profits
In the.iast two days disclosed a greatly
diminished demand nnd apparent with
drawal of peel support. It was pointed
out an the street If the Mitten Interests
have wen the overwhelming victory they
rlaim the speculative end of the contro centro contre
vcrsy had spent Its force. The market
community naturally arc greatly inter
ested In the outcome of the annual
meeting tomorrow, but from all ind ind
enteons it looked as If the Mitten slate
would go through without a break. After
results remain te be seen.
U. O. I. was also freely offered at
the outset and during the first part or
the morning, which selling was un
doubtedly n further reflection of the in-
tnfffnA. n' .1.a AnmnnnV nv tllC.rCdCrni
23 t 1
14
14
"4
54
54
54
54
54
54
! 54
H
14
14
1
54
- '
Grand Jury. A closer study of the-
statement, however, issued by tnc man
agement minimized the action of the
Grand Jury nnd there was a subsequent
quick rebound from 421,4 te 44.
Of the three, Pennsylvania Railroad
was the firmest, selling at 38'B, equal
ing the high mark for the year touched
yesterdav. Danklng Interests nre fav fav
ernblv impressed by the recuperative
powers disclosed by the property and the
reported improvement in traffic condi
tions throughout the entire system.
Dealings in the general list were quiet
nnd the movement narrow. hlle the
transactions were of small dimensions
the diversity of the operations reflected
a continued gradual widening of in
terest. Union Traction was net affected
by the further reaction in P. R. T. As
a matter of fact, only a few odd lets
changed hands. The American Stores
shares remained firm. .Electric Storage
Hattery was steady, but received only
scant attention as the main market for
the stock has been transferred te New New
Yerk. There was little change in tiic
Philndelplfin Electric issues.
54
54
'254
54
54
54
74
"54
254
74
154
54
54
14
54
54
54
54
Philadelphia Stocks
i-i.i
ltleh Lew P. M
200 Am Stores !)5;s rs l'"r;s
Net
chBH.
- 'A
;
54
154
"4
54
in de Jst pt.I-ll J -is J -11 ..
2.(l Am Rwys. S S 8 ,i
HO de pref. . 34 31 34 ..
loetR & e... ."wis .',; asu-f" )
HO Elec Ster.14.1 14.'. 345
000 Gen Asph. (50 00 150 VA
:m in e n a .tju :i8 .tji.s
7 1, eh inv. . T"Ji, Ti i-lTB-t-
34
lutiii retina it U iitt's Jn
M Phlla & W 8 8
38
Vs
8
nm
t'O de pref.. 0!i .101
'?
100 Phlla Ce.. 37-14
37
l"4-
!
-Ml de cum nf 30i
3!).
24'4
OOVsl
mil 1.1111a r.;cc -fi -I't -t'i
307 de pref. . 27T4 2731 27-n
i. Phlla Elec 24a
"4U J'
100 de war f p 273't 27- 2731. .
1015 Phila It T 25,!s 2.T.4 25
10tStudebker.l02,8 102V8 102- 8
lutrione ."lin. 1 ,fe i; !',
ti 1 nlenxrnc
1145 V G 1.... 44
0 de pref.. 51 -Is
310 Yerk Rwy 17-
38 Vi
42,4
r.1
17U
.181...
44 ..
"1 . .
1" H-
4-
1
Nl chanen made by comparison with last
Hale en New Verlt Stock Exchans'. '
rilIf-DET.rilI. BONDS
10000 Liberty 2d 4Us 42 07.48
500 Liberty 2d 44h '42 07.58
40O0O.LIberly 2d 4'4 '42....'. 07.42
300 Liberty 3d 4'4s '2 fl?.44
7000 Liberty 3d 44s '2S..lets 08.00
5000 Liberty 4th 4'is '38 07.70
SIM) Liberty 4th 4is '38.. lets 07.51
2000 Liberty 4th 4,s '38. . . . .- 07.(12
33000 Liberty 4th 4,4 '38 07.00
14700 Victory 4s '2.1. . . .Iets.100.50
54
154
.'.ni Mctery -j-Jis '"j 100.04
JOOO Amer Gas & Electric 5s. 84',
4 1
2
0000 Cens Trnc New .ter 5s.
V
154
274
7(1
05
115
n.j',i
n-Ui
i;i
100 Kleclric .t Pee 4s
500 Electric fi Pee Is
500 Electric & Pee 4s
2000 Electric & Pee 4s
1000 Electric ic Pen -Is
50(H) People's Passenger -l..
54
14 I
14 1
(18 V.
!4
3000 Phila Electric (Is.. ..lets lOUi
7000 Phlla Electric lis lets 30134
3000 Phila Electric 41s leta 1014
1000 United Rallivajs 4- 55
LIVESTOCK QUOTATIONS
54
54
54
Clikaae. Manh 1 1 CATTr.i; nevlpl.
l-.OIIO limit Vrr hlmi llinl.rlnn. ..,-nu
1
' 1 111 lower en nil (Ihk-h. few eaily snlc lieff
-4 ineiTM mill fnt olio nm k iJc in 2Jc lower,
1 2 iliullc beet Hteeru ut i.i.illly 10 fell, $7.40
;
54
54
154
54
54
54
54
254
14
154
54
74
14
54
54
Vt
a.-.'.
lioes r.ccclpm, :.i ine hnd. slew. mom.
lv L'.'c lower than jcstprday m nift.-ii.-i-. Tep
jui.7n. mrly: rractlcal limit, sie.sr.; bulk,
llOSCIO.fiO: plgH mostly 25c lower, hulk de
sirable. 100 te ISO round. jnCJ0..1.'.
SIH-JEP neeeljits. 10,000 head. Kat Umh.
openlns weak te loner; fat nhecp, aria te W)c
hlvher: shearing lambs, .toady; thorn lambn.
11. 75-ff 1.1.10; no fat woeled lambs sold
early; woeled ewn top early. SJI.7B; aoed laa
round shorn tv.ni. I7.S0; (hearing lambs te
ard traders, Sll.&e,
i;at t. Ixitils, March 1 1. C.VTTl.n ne
celple, ilSOII head Slew eatl a few
atetra nnd beef enwe. l.'ic in 2."ie lower,
bidding lower en .iearllna. unnera, bulln
and MeckerH about sleadv; enl ralirs opened
meally 2fic Inwir, later market etf mere.
Knrlv top. JI0.2.".. bulk. tffTO.r.O.
IIHOH rtreclpta. ll.r.nn lw.jd Klew l.V
te 2.V lower. Tup. 410.110, lullc Hit) te 220
pound Bveragea. Jia.4OS10.riO, few ltdvles
auld. packer ewb weak te 2."e lewrr. .t".nff
0; plus. dull. 2.'; le fiOe lower, S8.23W 0.23.
HIIHKI' necclpti. 130O head Steady.
14
54
2
54
1
54
54
154
H
14
54
top. till in', i'uiiv i,v'"i luini'N, eiv.i'l(1 l,i;
gmxl rllpiwd Ininbe, JI3. medium PO-pound
WeMein ettia. J7.
ritlhtiiirali. March It - ItOCiS r.er.i0,
tnoe head. Lewer lleailes. Uw7fiW11
heaiy etl.era. 11113011,20, light erkera
and plga. JIO.7,1
.lll".i:i' AND LAMPS-Receipts. 100 bead
Sleadv Tep aheep. Jin, inn inmba, Jill.
CALVES Jlecelpta. no hejd. Tup, J)!l.
Tiial llntraln. N. i March 11. -CATTLE
iieteipie. -vi'v nrttii, iiiew, eieauy. calves
receipts, 200 head. Steady, J3013.6O.
IIOUH lltcelpti, 2100 head. Slew, l.lalit
nitinu;. i n. ui..ue (u. ..i- niH.r, jieavv
110. TiOiS 10.73; mixed, U(n.ftO; lerkers
. I l.-U.. . ..UV. .!.,. "I mi n, .1 l-.(ft H.OO
P'a. ii'uii.-.ii iguitiis. a9.7avu; atags,
siii':v:p and i.amp.s n.im. v..
;-
54
1
2
54
54
I.nmba. 23c higher. Fptlng lambs', h'iiQM.
MONEY-LENDING RATES
Vl'U' VflUlf IfAH... tl 1 .
of KilUteral. opener today al I per cent
fist lr nillntr mtii! t-fnatu-lfis -vnv
I'lllInEI.I'llIA-Call, 5 per cent, llmi,
n per ic-m, commercial papet, ihree tn bx
iiiuii.iiei, u ,u i. . k i Lin.
Lr. S. Certificates and Treasury Notes
Int. Mat-.ii Ini
raw ui,ir
tune th
Itnt
tiate in, I
April, 1H22 IOU
Asked yteM
I'.
11)0 l.;i2 ;i ,-,u
tl4 June,
1112
102
I un t 111
ine 13-u:
teos
100'i
tee',
ine i,
102'.
102 7-10
T"n'v June,
S'l Ausr..
4'A Hepi..
t3 Hept.
tH, Hee..
t'ft'I June,
MJ Sent..
1PIIU, M I
1H22.
11122
102.'.
11)22,
1021
1021
10(123-32 S3
1"0. 3.70
1110. :rn"
a. he
JP.-' 4,41)
102ll.)0 4,40
("Tl 4 44
tMi Mch
li Meh.,
)II2."i
11120.
ine'
100'i
Mlxemnt frcm tedentl normal in. . : ,(
I'M 4.1(1
t Acceptable for pajtmnt of ncem ta
dun en date of maturity. " i'
Reserve Banks' Discount Rates
Official rediscount rates at the twelve Ted.
eral Tleerie banks are ua fellows;
Treas. . Lib. Cnni'l in,..
A
rlfs lieiiils. paper mu
'!'n. lie
Ileslnn
li?
414
... - ... -..,..
!
"""
New Yerk . .
'I
4 '4
4W
3
3
b
ft
6
6
a
454
4'i
4 '4
V"
4W
4',
4!''
4's
3
3
3
ft
ft
ft
R
'i
renuB fiein
Philadelphia , . ,
i leieuilil ....
Itlihmend
Atlanta
Chlrage
St. IauIb ,,
Mlnnt-apella ,,,,,
Kansaa City . ...
nallaa , ,..
San franclace . . ,
ft
ft
ft
i
A
A
r.
4!i
AKING IN P
payable April
four year..
V,
J)
J
.
$150,000 n
GEORGIA
. RAILWAY & POWER CO..
GENERAL MORTGAGE
7 BONDS
NOVEMIER 1, 1941
TAX REFUND IN PENNSYLVANIA
THE COMPANY PAY8 THE NORMAL FEDERAL
INCOME TAX OF 2
The Georgia Railway & Power Ce. supplies elec
tric light and power from its extensive hydro
electric generating plants te the Northern portion
of the State of Georgia, including Atlanta and 48
ether municipalities, serving a population of ever
750,000.
These bends are secured by deposit of an equal
amount of 1st and refunding 5s due 1954, thus
sharing in a direct first mortgage en all the prop
erties of the Company, subject te only $1,400,000
underlying bends. A Sinking Fund will retire
about $10,000,000 1st and refunding 5s by ma
turity. Alse secured by a general mortgage en the
entire property.
EARNINGS
(as officially reported)
Year Ended December 31 1921
Total Rmmt. 14.431.S2S
Optrttiaf Eipeeiei and Tixei 9,393,54 1
Greit Rarianci 5,038,264
Interest and Rentals of
Leaied and Sefciidiary Cot. 2,004,974 1,810,229
latercit e Faaded Debt. 965,159 2,970,133 914,734 2,724.963
Balance
2,068,131
DESCRIPTIVE CIRCULAR ON REQUEST
PRICE. 101, & INTEREST
TO NET OVER 6.85
REILLY, BROCK & CO.
BANKERS
306 CHESTNUT ST.
PHILADELPHIA
PHILADELPHIA BONDS
We desire te call attention te the following
Bends of corporations operated and managed in
Philadelphia:
Atlantic Refining Company 6s. 1931
Baldwin Locomotive Works 1st 5s, 1940
Edward G. Budd Mfg. Ce. 1st Serial 6s, 1922-1932
William Cramp & Sens Ship & Engine Building Ce.
Cens. 1st Ss, 1929
Crew-Leviek Company 1st Mtg. 6s, 1931
Hale &. Kilburn Cerp. 1st Mtg. 6s, 1939
Keystone Telephone Ce. 1st Mtg. Ss, 1935
Market Street Elevated Passenger Rwy. 1st 4s, 1955
D. B. Martin Ce. 1st Mtg. 6s, 1935
Pennsylvania Railroad Ce. 4zs, 5s, 6i, 7s, of varieui
maturities
Philadelphia Electric Ce. 1st 5s, 1966
Philadelphia Electric Ce. 6s. 1942
Schuylkill River East Side R. R. 1st 4s, 1925
Strawbridge & Clothier Ce.' 1st 6s, 1942"
Sun Company Debenture 6s and 7s, 1929-1931
Union Traction Ce. (Philadelphia) 50-Year Collateral
4s. 1952
H. O. Wilbur & Sens, Inc. 1st Mtg. 8, 1936
S. S. White Dental Mfg. Ce. 87c Notes, 1930
These who prefer te invest in securities "near iiome"
will doubtless find in the above list securities with the three
essentials of investment safety, marketability and satis
factory yield. Quotations and reports eencernine; the nbe'c
companies will be furnished en request.
GARRISON & CO.
WIDENER BUILDING, PHILADELPHIA
MEMBERS TELEPHONES
Philadelphia Stock Exchange Philadelphia Struct 8370
New Yerk Stock Exchange Nev Yerk litcttr 3U7:'
All Information anil slntlstit. Iiave rr nhlnlnM frnm seuri' nhn i
blleM te te tellable ami accurate, but !ln nm nut su.iiuntri'
PENNSYLVANIA EDISON CO.
CUMULATIVE PREFERRED STOCK
Dividends $8 per Share per Annum
PRICE $100 PER SHARE
And Accrued Dividend
Yielding 8
FREE OF PENNSYLVANIA STATE TAX
The following nir some of the fuverabltj factors in runner,
tien with this issue of cumulative preferred steck:
1. An unusually stable territory.
2. Excellent opportunity for expansion.
3. Streng protective restrictions.
4. Able management.
5. Dividend ever three times earned.
6. Extremely attractive yield.
Detcriptive Circular en Requent
ParslyBres. & Ce.
BLrYNKERS
1121 CHESTNUT STREET
PHILADELPHIA
Members PmLADtirHiA Stock Exchange
r " "ill TL
Security Assured
Kvery possible sufcRunrd physical, lcpal,
financial, human is used te assure the safely
of our deposits. We allow interest en checkini,'
accounts.
THE REAL ESTATE TRUST CO.
OF PHILADELPHIA
Bread and Chestnut Sts.
I
- -1 -
3 " si
4 w$&ftM!fctif
1920
13,211,287
9,099,129
4,117,158
1,392,195
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