l.
1
v
tf
t
i
i-n
BS.
iM
ir.
wyfQkT?
" . ' .t4I1"f fi iW'T' '
EVENING PUBLIC LBDOB
I aw st sV a m
Mcinc ugnt ana
Pwtr Bemb
AsftrmriackPr. &!.:. 190O
Alabama Power . . itll
CKtrtl Main Pr. . 1943
Maha ltmr St It47
Pann Public Sarv. s. It2
ftattth'n Cat. Kdlsan 144
Taxas Pewar A M. S 137
Union Klae.LtAPr.Sa 1933
Details and price
en application
Harris, Ferbes & Ce
Pin St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Wldentr Side,
Telephone Spruce 7040
inimraEKMMitmnraHinEii
$50,000
ST. LOUIS & SAN FRANCISCO
RAILWAY CO.
Equipment 6s
Due 1929
8ecurd bv first lien uoen locomotives
and cars at approximately Bn of
m eruinai cost or tms equipment.
St. Ixiula 4. San Kranclece showed
earnings lnt ear approximate!
twice an interest requirements.
In Annual Statement Interest en
Equipment Is deducted with taxes and
rentals, before maktiiE deduction or
Interest en first mortgage bends and
ether liens.
Price fe yitli a rttarn of 5.70 9e
Established 1885
BIOREN&CO.
410 Chestnut St.
v Philadelphia
Uembera of Ifew Yerk and
Philadelphia Stock Exchange
sMmmmmmmmmmnmmmi
"iv
Ti ry
i . f ' ' -i i , ... ti . " -.-.-
I NEW YORK STOCK EXCHANGE TRANSACTORS' j
ALONG JHE LINE
r
Inroads of Reactionary Current
Disclosed a Weaker Tech
nical Position
WE OFFER
Palmyra, N. J., Scheel 5s
1924-31 en 4.80 baita
1932-39 en 4.70' basis
.1940-48 en 4.60 basis
Frte of all Federal and
Ifew Jersey State Taxation
WiDDtt Blde. Philadelphia.
frmtrrl PkilaMpkia in J
Art? )tri Sletk Extkampt
se w tuaairnsn.
MJLNNi:i
New Yerk, March 27. Since there
were no particular dlsturbinjt, develop
ments ever the week-end the. further
confession In security values In today's
fcteck market must consequently have
resulted mainly because of its weak
ened technical' position. The reaction
ary tendency, In nil events, was mere
clearly ..defined and there was a gen
eral melting of prices all through the
list. The market for some of the re
cent: 'active speculative industrial spec
ialties proved te be very thin, while
tluougheut the Industrial quarter nu
merous stop-less orders were uncover
ed. Fer the first time In many weeks
the line of least resistance Is apparently
tlennvvnrd, for the present at least.
There were numerous developments
present, pad and In piespcct, te sup
ply the bearish contingent with plenty
of ammunition. The principal reason,
however, for the better success of the
renctlennry tactics lay In the fact that
a goodly portion of the professional nnd
semi-professional traders who hereto
fore were ready te fellow the lead of
the peels and ether speculative combi
nations have switched their allegiance
te the bear party. Under the concen
trated offerings from thec quartets
prices were almost certain te me'.t, In
asmuch as the sponsors of the con
structive movement had all thev could
'attend te In fortifying their own pesi
tien rather than attempting te duck
the Increasing reactionary current. The
Interesting quextlen remaining te be
answered is hew much of the celling
-eprcpcntcd actual liquidation and hew
vuirh was for the ncceunt of the short
interest.
lletrcr.tlng prices were net alone
centined te the stock market, but a
similar yielding tendency was noted In
the grain markets nnd also In foreign
eTchnngc. In all the change of temper
represented from all indications a cor
rection of an ever-extended speculative
position rather than reflecting any ma
terial cliaiigc in general conditions.
While the selling pressure wax con
centrated te n large extent against the
oil, steel, equipment and meter shares,
the cntlm list was mere or less affected.
The celling Increased as the session pro
gressed among the recognized peel
stocks. Mexican Petroleum was the
central feature, declining ever S points.
The decline was nttended by rumors
that the Mexican tlevernment contem
plates another advance in oil expert
taxes. There were also humors of new
financing. Gulf States Steel had the
greatest less In the steel group, de
clining mere than (i points, but Vana
dium was nKe vulnerable. American
Can, Pullman. Baldwin, General Elec
tric and Bethlehem Steel reacted 1 te 2
point'. Sugars, Chemicals and ship
pings dlsplajcd increased heaviness, and
der pressure, Ann Arber preferred de
Alls, especially junior Issues were un
cllnlng -Vi points. Merchandising nnd
chain store specialties were the only
stocks te show real strength. May De
partment Stores, Kresge and Phillips Phillips
Jenes gained 1 te 'A points.
in
f
Spruce 8200
Natien -Wide
Market
Liberty Bends
Victory Notes
and
Treasury Certificates
SECURITIES DEPARTMENT
COMMERCIAL
TRUST COMPANY
Member Federal Reserve System
City Hall Square West
Commodity Markets
GRAIN MARKET
Cblrare, March 27. Wheat started
c te c lower for May and jc te c
ewer for July. Trade wns fairly ac
tive, with prominent Eastern houses
selling at the start. On the break,
commission houses had resting orders
te 'buy.
Cern started unchanged te ir higher
for May and ',4c te (. lower for July.
Trade was mixed, with cash houses
hedging In the Mav position and com cem com
nikflen houses selling July after the
Immediate uinninc.
Oats started i&c te 'ic higher fpr
May and unchanged for July. Locals
bought the Mnj delivery, while cemmis
slen houses sold July.
Previsions started easier for lard.
rrevleus 1
Clese Open T M
Wheat
May . . . 1.30't l.sn'-s 1.30 1 30
July .. .. 110 1.10 & 1.1.1". 1.17S
iept 1.10 1.10'i
yu"n.T.. r,: r.s fi r.s; r.-
July . .. 01' 81 0 nm (IP,
Sept 04 O 6ls 04',
Oats
Ma- a?1 sr.; tf 38', 3814
July .... 3S, 38SO 38s 33
Sep, .... ... 30'
May 1.014
Iard
July 11 17 11.13 10S2
Bid.
Blv- ... 1.
8n'"- In I STOCK H!h
100 ., Adanc3 Rumely... 14K
liOO 4 Air Reduction .... 54 4
200 .-. Ajax Rubber tSH
100 4 Al'led Chem ft Dye. 62 ft
400 7 Allied Chem & D pf10?14
200 4 APIs-Chalmera 44f('
100 7 Allli.Chalmers pf.. 92
?00 .. Am Agrlq Chem... 38 V4
100 .. Am Agrle Chem pf . . SSH
200 .. Am Beet Sugar.... 38
300 , . Am Boseh, ,Mag. .... 44,
100 4 Am B Shi Fdy new 58
400 ..Am Can 45H
1400 12 Am Car . Fdy... .1834
500 .. Am Chicle. 10H
100 .. Am Cotten OH 24J4
100 .. Am Cotten Oil pf . . 52Ji
200 . . Am Hide & Leath pf 68 U
3000 7 Am Ice 107
200 6 Am Ice pf 80
500 .. Am Internat Cerp. . 42J4
100 1 Am-lA France Kng 11 H
100 .. Am Linseed 3314
1200 e Am Ixeometho....l07
700 .. Am Sifetv Razor. . . 7H
200 .. Am Smelt 51 H
400 7 Am Smelt pf 95
200 12 Am Srfuff 125
900 3 Am Steel Foundries 36 J4
300 . . Am Sugar Ref 684
100 7 Am sugar Rcf pf.. 98
200 .. Am Sumatra....... 31 Vi
100 6 Am Tel & Cable. . . . 60J
5300 0 Am Tel & Tel 120!i
100 12 Am Tobacco 136
300 .. Am Watrwks 6 pf 2814
500 7 Am Woolen 86 J4
100 7 Am Woolen pf 106H
100 ..Am Zinc I.d & Smlt 134
4600 . . Anaconda Copper. . . E0)6
100 ...Ann Arber 18
600 .. Ann Arber pf 48
200 4 Asse Dry Goods. . . . 54J4
100 Asse Oil 103
1100 Atch Tep & San Fe 964
300 .. Allan Blr & Atlantic 2H
100 7 Atlantic Coast Line 90J-4
300 .. Atlantic Fruit 3js
300 . . Atl Oulf & W I S S 2714
200 . . At O & W I S S pf 20
100 .. Atlas Tack Cerp.... 19S
7400 .. Austin iNMclielaa.... 20
100 6 Austin J'leh Inc. pf . 83Ji
7200 7 Baldwin Locemotl-.e107
200 .. Baltlmore k Ohie.. 37 H
100 .. Barnsdale Class B.. 25 H
1000 ., Batepllas Mining... 1 54
600 5 Bethlehem Steel.... 64 M
12Z00 5 Beth Stc'el B 70?i
J303 7 Beth Steel 7 pf . . 91 Yi
103 8 Beth steel 'c pf. . 113
100 .. Beeth Flsherlfs.... 7H
12000 .. Bklyn Rapid Transit 19
3200 .. Bkln R T ctfs of dep 18
100 .. Brklyn Union Gas.. 91
100 7 BufTale & Susq 85
200 8 Burns Bres A 126i
300 2 Burns Bres B 40 Ji
200 .. Butte Copper & Zinc 64
300 .. Butts & Sup Cep... 25 H
100 . . Buttcrlck Ce II H
800 .. Cadde Cen O & R. . 12
400 6 California Packing. 75
1700 .. Calif Petroleum..'.. E0'4
1000 .. Callahan Zinc & IA 6i
600 10 Canadian Pacific. . .135H
100 .. Carsen Hill Mining. 1514
100 7 Case J I 1st pf 77J5
400 .. Central Leather.... 36
200 .. Central Leather pt.. 71
100 .. Ccrro-de-Pasce .... 34 14
5200 6 Chandler Meters... 71 H
500 4 Chesapeake & Ohie. COJi
500 . . Chicago & Alten .... 6
500 . . Chi & n III (new) . . 22
300 . . Chl & E III (new) pf 41 a
200 .. Chl & Gr West pf.. 18J4
1600 .. Chl Mil & St P 22V4
2500 .. Chl Mil & St P pf.. 36Ji
700 5 Chl & Northwestern 69 ?i
9200 ..ChlRI&Pac .39J4
2100 7 Chl R I P 7 pf 92J4
200 C Chl R I & Pac 6 pf 78H
100 .. Chl St P M & O pf 84
1300 .. Chile Copper 17
700 .. Chlne Copper 26 14
11500 4 Coca-Cela ..... E0J4
200 3 Colerado & Southern 45
100 .. Cole Fuel & Iren... 29
2100 C Celum Gas & Elec. . 81
5100 .. Celum Graphophene 3)4
700 4 Cemput Tab Rec... 65i
100 .. Cenwl Cigar 24
200 .. Cemol DIs Ins H
200 7 Consolidated Gas.'.. 107
800 .. Consel Textiles.... 13
2600 4 Cern Products Ref.103"i
. 100 7 Cern Pred Ref pf. .115
Guaranteed
Principal and Interest
by the
Atlantic Coast Line R. R.
Washington
Vandemere R. R.
First Mortgage 4 due 1947
RATED AA
Price te Yield 5.20
Mackie,CrouseCe.
REAL ESTATE TRUST III.D0.
Walnut 8250 Rare S7C
COTTON MARKET
New Yerk. March 27. The cotton
niirVM mwned hteadv nt 0 points de
cllne te 1' point advance. T.lvctprel
cable-. following earlv steadin'.-s-,
turned easy late in the day. This, in j
(onnectlen with Southern selling, led;
te the epentn; less Here, out puces
quickly rallied en trade e.i'lins. nnd
demand from commission heuies baed
.... !. .. n. funtrn nml !.wtrn licit.
II lilt' Htl -.. ..-. -- -v. - -.
and predictions for further uuecttli'd '
conditions in the latter district tonight
and tomorrow. Brokers nctim: for .Tup
an"' interests were bujtis of the Julj '
rctoltien. The Continent was n seller
of the near and bujer of Mew nep
ttinntllH.
Previous
I'le.e Open
MR) 17 87
July ILlg
October 18'L
December J8 J'
January le.uS
17 8
17 1J
18.77
IB 88
18 30
1 00 1
r m
17 r.a '
18.0H
18 HI
1831
10. VJ
MrtrpeAl.
Tenn. Rwy.. Lt. & Pr.
Common Stock
Arthur C. Richards & Ce.
Prffafe Telephone te Xrw Yerk
Drexel Building
Bell, Lern. 7C20 Kestene, Mala 67n
DEWBURGER,
HENDERSON & LOEB
Members New Yerk and
fhilauei? Stock Exchanges
1410 Chestnut St.
March 27 There was a reed
spot cotton tcilay, but err.y a
lslness as done with crices
easier en tlia tas s of a decline of 0 points
for mWdllni; at 10 8O1I The sale wern
10,000 bales. The receipts were I100O bales,
Incluillnc -1300 bales Amerltin. Futures were
nulet In the earl) ileallnes Spot prl.e were
American, mliltlllnir fair. 12 03d. goerl mll
dtnr. 11 101 fully rnlddl'nr. 10 ROd. mid
dllr;. 10 80d low rnlildllnc, It 70d, geed
ordinary, 8.EM. and ordinary 8,33d.
NEW YORK COFFEE MARKET
New Yerk, March 2i. The coffee fu-
tines market opened two te five points
higher this morning 011 a moderate,
scattered demand, due te the alvnjirrs
In Ule and Santes. Theie was little
coffee for tale,
Brazil reported an nihance in rei
and freight ceftee1 tedjj, Bourbon 4s
being fold here nt 1ft. 00c anil part San San
eos 4s nt 111. 10c te L'l.SSc, fin t her con
vincing the local trade of Brazil's abil
ity te fully control the primary mar
kets. Ueplaeement costs aie far nbec
1 parity if prires here. This phase of I
the situation has brought about a feel
, ins of anxiety in lecnl trade circles. I
r,?l IlilllU.- IMIll-, llltll ,ll, , 111 C1I 111 .1
peftits above Initial figures around mid-
Uu.
Sat rle.ft
May 0,4004.'
JU; . ... . H33f
September "-'1W24
December U 2301M
36
4 Crucible Steel 56
7 Crucible Steel pf.. 85
.. Cuban Am Sugar... 2154
.. Cuban Cane Sugar. 14J4
. . Cuban Cane Sug pf 33
.. Davisen ChemlcaJL . 55'A
6 Del Lack & WesternlM
8 Detroit Edisen 103
1 Deme Mines 27J-4
12 Klec Storage Bat...149'4
.. Elk Hern Ceal 21
3 Elk Hern Ceal pf . . 36)4
7 Endlcott-Jehnson pf108J4
5 Endlcott-Jehnson . . 81
.. Erle 11 H
.. Erie 1st pr 17H
8 Famous Players L. 78 J4
10 Fisher Bedy 102H
.. Flsk Rubber 16J4
.. Treepert Texas.... 17
. . Gasten Wms & Wig M
6 Gen Am Tank Car. . 55
.. General Asphalt... 58s
7 General Cigar deb pf 99 'A
8 General Electric. . ..153
.. Gener . Meters.... 10
6 Gen Meters pf 76
.. Glllliand OH pf.... 75
.. Goedrich B F 39
. . Granby con M At M. 26
7 Great Northern pf . . 72
4 Great North Ore ctfs 35 H
.. Greene cananea Cep 274
.. Guantanamo Sugar, 1l'4
.. Gulf Mobile & Ner. 10J4
.. Gulf Meb & Ner pf 25 Vx
.. Gulf Sta,te Steel.. .7194
.. Hablrshaw El Cable 2
.. Housten Oil 74
.. Hupp Motorcar.... 154
s. Hdraullc Steel.... 7U
7 Illinois Central... 10114
., Indlahema Ref.. 3H
.. Inspiration Cen Cep 39 H
.. Interb Cen Cerp... 2H
.. Interb Cen Cerp pf 7
,. Internat Agricul... 101,-;
. . Int Agllcul Cerp pt. 37 14
100 21, Int Cement 33
1000 J Inter Comb Eng.... 26
900 5 Int Harvester new. . 93
. Int Mer Marine..,. 15)g
6 Int Mer Marine pt. 70'
, Internat Motertruck 34?i
7 Int Motertrk 1st pf. 76
7 Int Motertrck 2d pf 68
. international Nickel 16J4
. International Paper 44 14
Inter Paper pf slpu 62
Invincible Oil Cerp 18
2800 21, Cosden & Ce
3500
300
8100
5900
3900
6400
100
120
200
100
2600
10e
100
300
100
100
4300
100
2100
200
200
100
2100
100
300
12100
300
100
300
700
1300
200
100
900
1100
0
5300
1400
100
800
100
700
6 DO
200
500
1000
100
500
800
500
600
100
100
5000
100
400
2700
200
2b00
700
ICO
160u
200
Iren Products 27 J4
Island oil Us
Jewel Tea 18H
Jenes Bres Tea .... 37 fs
Kan City .Southern. . 25 is
Kan City be pf 55'4
T,ew
1 14H
53
16Ji
62 K
109
44
92
3854
65 !4
i 38
43f4
58
45 K
152
10'
24J4
521,
6814
103J4
80
42K
1114
3314
107 V4
7K
51 H
95
125
354"
68 a
98
3114
60 !4
119
136
2814
86 H
106H
14's
49 H
18
46 !4
54
103
96
214
9014
394
2714
1914
19H
26 U
83 Vt
105
37 4
25 H
114
63
69 H
9114
113
7
17H
17J4
91
86
126K
40 H
6!i
25
31
1114
75
4914
6 ',4
13514
15J-4
7714
35
70'
34J4
70J4
60
5
21
41
1814
22
36
6914
3814
91
7814
84
16
26
48
45
29
81
3
6514
24
107
12Ji
10314
115
3514
55
84J4
20
14J4
3114
5214
114
10714
27(4
14914
20
3614
10814
8114
11
17
7714
1021
16
17
55
57
1914
152
10
75 U
75
38
26 14
7114
35
27'
1014
10
2514
67 li
24
74
15
7U
101
3
39
2
714
1014
3714
33
2514
92
1514
70
34
76
68
15
4414
6114
1714
27
1
18 Ka
37
25
5514
1 -80 Net
P. M. Ch.
US- H
34 H
16H
02
109 -44-92
-3814-6514-38
-43-58-
-45
r
153 -1014-2414
4-52J4-6814-
104 -80
-4214
1114
3314 107-
7H-
51
95 -125
36 -6814-98
4-3114-60J4
4-
12014 4-
136 -2814
8614
106
14J4, 49
18' -4614-5414
4-
103 -
96 -
214-
.9014-
3-
2714-
19-
19-
2714-
83J4 4-
106 -
37-
25-
1J4
04 -
7014-
9114-
113 4-
7-
184-
17-
91
85 4-
126-
40 4-
6H4-
25-
31 4-
11-
75 -
4914-
614-
13514-
1514-
7714 4-
35-
7014-
3414
70-
60 -
5-
21 -41-1814-
22 -35
-69
38-91-7814-84
-
16-2614-48-45
-29
-81
14 -3
-6514-24
-
107 -13
-
10314
115 -3514
55-84J4-2014-1414
33
108
2714-
14914
21 -r
36)4 214
10814- 14
81 14 - !
11
ft-
10214-1614-17
-
55 -58
-9914
152 -1014
76
75
2714
2514
69 -214-
74 -
. 1514-
X 714-
101 -
3-
39-
2
714
1014 1-3714-33
-25J4-92-1514-
70 -34-
76 -68
-15-4414
62
17- 14
27 - 214
11
8a'eti ln.1
!4
2
114
1J4
2
1
114
4
1
"!4
"l4
14
U4
14
14
14
14
14
14
14
"
14
214
14
414
14
14
14
14
n
14
H
14
14
114
14
14
!4
14
14
y
14
'
14
14
7i
14
1
14
14
14
'il4
14
14
14
14
14
"ll4
14
14
6
14
14
114
114
Vt
Vi
7i
"
14
14
"54
14
1
14
2
RTOrif Hlth
COO 1. Kansas Jt riutr'. .... 414
' !552 Keliy TJheel 100
'SOO ., Klly-Spg Tire 43(4
' 2J$2 Kennecett Copper:. 2914
00 ', . Keystone T & R,.i, 1714
1300 6 Krfsge S S 140
200 ,. Lackawanna Steel.. 48
900 2 Lee Rubber Tire... 3214
. .100 .. 7 Liggett & Myerapt.113
140O ,. Loewa Ce... 15
'OO .'1 Left Candy 1314
J00 7 Louisville A Nash.. 113
8900 .. Mclntyre I9J4
100 1 Mackay Ce pf 63
300 ,, Manatl Sugar 43
300 7 Manhat Kiev Guar.. 39
200 .. Manhat Elec Sup., 4614
000 2 Manhat Shirt 40J4
00 ., Market St Rwy.... 7
'5 . . Market St Rwy pf . . 284
'000 , . Mar St Rwy pr pf . . 55
400 .. Martin Otl. ..... 1. 25
4100 .. Martin Rockwell... 26
800 .. Martin Parry 26
200, ., Math Alkali ...... 3314
108 ,. Max Moter Class A 55
00 .. Max, Class B 18
3300 8 May Dept Stores.. 117
.10200 12 Mexican Petroleum 116
300 J Miami Copper 2714 .
1300120 Mlddle States Cerp. 1314
7500 .. Mldvale Steel 33J4
200 ... Mmn & St Leuis.... 9)4
100 . . Me Kansas & Texaa 5
1100 .. Me Kan & Tex (wl) 12
1300 .. Me.Kan & T (wl) pf 33
'00 .. JTK&T 1st A W. 15
1200 .. Missouri Pacinc... 2114
2600 ,. Me-Paclflc pf 52
100 ...Montgomery Ward. 1614
200 ., Mulllns Bedy 2814
100 . , National Acme 16
100 .. Nat Cen St Cable. 2
600 .. Nm En A Stamp.. 3414
200. (1 National Lead 88
300 . . Nat R R of M 2d pt 414
100 .. Nev Cen Copper... 14
1600 5 New Yerk Central. 85
100 S New Yerk O & St L 64
100 B N Y Chl & St L 2 pf 69
10 6 New Yerk Deck pf 5314
6200 . . New Yerk N HAH 19
300 2 New Yerk Ont AW 2314
100 4 N V Shipbuilding.. 2014
300 .. Norfolk A Southern 1914
100 7 Norfolk A Western 100
100 3 N American nf etfs 42
2100 7 Northern PaclHe... 7514
"1100 . . Okla Pred A Rcf . . . 214
2000 ... Orphcum Circuit... 1814
100 8 Otis Elevator 136
100 .. Otis Steel 11T4
200 2 Owens Bett Mach. 30
300 .. Paclfle Devcl Cerp. . 9,
s 500 6 Pacific Gas A Elec. . 68
2300 3 Pacific Oil 48
5500 6 Pan-Amer Petrel... 53
1000 6 Pan-Amcr B 47
100 .. Parish A Bingham. 1414
3100 2" Pennsylvania R R. . 37
500 . . Penn S?abenrd Steer 814
100 6 Peeples Gas Chicago 8014
1200 .. Pcrc Marquette.... 2714
100 5 Pere Marq prier pf 71
400 3 Philadelphia Ce.... 3714
100 7 Phillips-Jenes pf... 9014
100 2 Phillips Pet 35
700 .. Plerco-Arrew Moter 16
100 . . Pierce-Arrew Met pf 35
1800 .. Pierce Oil 8?i
,603 C Pitts Ceal 5214
400 6 Pitts Ceal pfv 94 .
300 .. Pitts A West Va. .. . 26J4
300 1 Pend Creek Ceal... 1814
200 6 Pub Service of N J. 85
1400 8 Pullman 123
300 . . Punta Alcgre Sugar. 39
4500 2 'Pure Oil 29
800 .. Ray Cen Copper... 14
1800 4 Reading .' 7314
209 2 Reading 1st pf 4314
100 ., Remington Typewrit 3614
100 .. Replegb Steel 30 14
1200 .. Repub Iren A Steel. 51
500 2 Rep Iren A Steel pf 78
103 . . .Republic Meters.... 614
100 . . R T Revnelds T B. 43
1100 5.20 Royal Dutch N Y... 52
1
Lew
414
97-
42
29
1714
13814
38
32
113
14
12
1:M Net'
p. m. can.
4- 14
"9814- 114
48H- H
29 - 14
17!- 14
139 1
48-
3214 14
113
14
?-
14
113 I 113
1914 1914-
14
r
14
1
5
14
14
1
14
il4
1
1
1
114
14
14
14
14
1 -
18 ,
-55J4
-
1
14
4100 .. St Leuis San Fran 2714
500 .. St L A S W 27
400 .. St L Southwest pf 41 J4
500 .. SantaCecella Sugar. 414
1000 .. Savage Arms 18
1200 .. Saxen Moter 314
500 .. Seab Air Line pf . . 914
2500 . . Sears-Roebuck .... 70
300 .. Seneca Cep corp... 1374
100 .. Shattuck Aria Cerp 814
11100 . . S.nclalr Oil 124
100 .. Sless-Shellleld 40
2300 6 Southern Pacific 8514
100 .. Se Perte Rice Sugar 50
1800 .. Southern Rail 2114
700 .. Southern Rail pf . . . 5214
600 4 Standard Oil of Cal 95
100 C Standard Oil of N J170'i
100 7 Stand Oil of N J pt!1414
1200 2 Stewart Warner Spd 3714
300 .. Stromberg Carb.... 45
26100 7 Studcbaker 10614
300 7 Studebaker pf 10714
1000 .. Sub Beat Cerp.... 514
30d .. Superior Oil Cerp.. 5
300 .. Sweets Ce of Amcr 4H
100 .. Temt Cern A F "A"2
600 .. Tenn Cep & Chem. 1 1 14
11100 3 Texas Ce 4314
140p2.BO Tex Gulf Sulphur... 41
700 .. Texas A FaciMS... 31
1200 1 Texas A Pac C A O 2514
200 .. Third Ave 20)4
1000 6 Tobacco Products.. 6114
900 . . T ranscen Oil 9 14
300 6 Union Bag A Paper 56
300 .. Union Oil 17
300 10 Union Pacific 13214
200 4 Union Pacific pf. .. . 7314
200 .. United Alley Steel. . 30
800 8 United Fruit 137
600-.. United Rwy Invest.. 11
1100'.. Unit Rwy Invest pf. 30J4
3100 6 United Retail Stores 4414
3400 . . U R C I P A Fdy. . , 3314
100 B U S C I P A Fdy pt 6514
900 ..US Feed Products 5H
1200 ..US Ind Alcohol... 47
300 ..US Realty Imp. 59T4
2400 .. U S Rubber 60
100 11JS Rubber 1st pf. . 10414
100 ..US Smelt A Ref... 3574
100 3'i U S Smelt A Ref pf 45
J520O SI'S Steel 94
300 .. V S Steel pf 117J4
700 2 Utah Copper 6314
100 - .. Utah Sec 14
3200 .. Vanadium Cerp. . . . 38
200 .. Va-Car Chemical. ., 33
200 C Vn Iren Ceal A Coke 43 14
2700 .. Vlvadeu Inc 10
800 ..Wabash 914
3300 .. Wabash-pf A 27
300 1 Weber A Hellbrener 1314
300 .. Western Maryland.. 914
100 .. W Marland 2d pf. 16
200 .. Western Pacific... 18
100 4 Wcstlngheuse A Br 85(4
1600 4 Westing BAM.... 574
100 . . Wheeling A L E. ... 9
1400 .. White Oil Cerp 9J4
100 .. Wick Sptnc St Cerp 141
4300 .. Wlllya-Overland ... 814
1 200 8 'Weel worth I' W. . . 1 67
300 7 Woelwoith F W pftlO
500 4 Worthington Pump. 49
100 6 Werth Pump pf B.. 6974
63
38 14
46
39)4
7
28 Hi
54 '
25.14
24
2614
33
55
1814
114V,
115
27)4
13
32
9)4
5 .
12)4
33,
154
21
52
1614
28)4
16
2
33
88
4
14
83
64
69 .
53V4
18
23)4
2014
1914
100
42 ft
74 .
214
17
136
1174
30
9
67
48)4
52
47
1414
37,
774
8014
2614
71
37
90)4
35
16)4
35
8
52
93
26
18
84
121
38
2914
14
73
43
3614
3014
5014
77
6)4
4374
52)4
27
27)4
41)4
414
17
3
914
69
1314'
814
12374
40
85
50
21
52
9414
17014
'1414
3614
4414
104
10614
5
514
4
2
1074
42(4
40)4.
31
25
20
60
9
55
1714
131
73
3014
13514
11)4
29
43)4
31 14
6514
51-4
46
59
5914
104)4
35 74
45
S3)4
117J4
62
14
3714
32)4
4314
9
874
26
13)4
914
16
IB
85
56
9
9
14'
7
165
118
49
6974
14
H
14
1
14
1
i
2
114
y
"h
"
H
14
14
14
2
1
114
'
74
214
74
"14
1
MHHIl H111 i 11
0 'r,w v '- f,if ,7 "
Phlla. vEUctrlc, After -Making
New Teptj Encountered Free.
Profit-Taking
1
63-
43 - 4-
3914
46 1
40 3
28)4 -2H
54 - 1 14
23)
26
-3S
18
113
-
13 -'
32-. 114
9)4-- 14
1 5- 54
'214
33 -13
21 -32
-16)4
28)4
16 -
2 -34)4-88
-
414
69
42
7414-
214
17-
'136 .
1174 .
30 -.
9 -67-48J4-52
-47
-1414
37
774
8014 37 -
90)4 114
35 ..
1614- 14
35 - 1
8 ..
5214 1
94 1
26
18' -38-2914-1474
7314
43 -36)4-30)4-5054-78
6)4-4374-52)4-2714
2714
41)4-
4)4
18 3 -
914-69-1314-
8)4
-50
-21
-
52 -
9454-
17014-
114)4
36 -
44)4-
105)4-
106)4-
5 -
5
4
2 -
11 -
4214-
40)4-
31 -
25 -
20 -
60-
9)4-
55 -
1714-
131-
73 -
3014-
137
1 1 14 -
29 -
43-
33 -
6514-
5-
46-
59 -
60-
10414
3574
43 ,
94 -
11714-
6274-
14
37-
33
4314-
v9-
874
26-
1314
18 -8514-56-
9
914-
1414 ..
7- 14
167 2
118 - J
49 - 14
6974 14
The local market also displayed re
actionary tendency, but outside of
Philadelphia Electric common the deal
ings were of small dimensions nnd price
movement vnrv irmmtlar. There was
continued votive buying of Philadelphia
r.icctnc at the outset, carrying it te a
new hlth record for the venr at 2694.
The forward swing, however, was ar
rested at that figure by encountering a
freer supply of stock, largely due te
realizing sales. An approximate profit
of 4 points, Is little tee much for aver
age local trader te resist.
in se far as actual news, tnere was
nothing definite te come te the surface
te further explain the recent outburst
of speculative enthusiasm. It is a
pretty general guess that the animated
upblddlng of the stock was largely the
outcome of clever peel work, nnd a win
dow dressing preparatory te the an
nouncement of the company's new fi
nancing plans. '
, Interest, en the ether hand, ap
peared te have petered out in P. R, T..
and the turnover was about the smallest
recorded in 0 number of weeks. The
price was Well sustained at last week's
top price, 20, Indicating continued
quiet absorption and accumulation. It
in figured that the peel which had been
Jhe market sponsor has acquired ap
proximately 40,000 shares since the bo be
cal'ed Mitten management controversy
started. Only n few odd lets of Union
Traction came out at 303. an ad
vance of V .
The American Stores Issues showed
renewed strensth, with the common, ad
vancing ever a point; first preierrea
1 and the second preferred -, bring
ing the market quotation of the two
preferred shares in closer parity.
American Gaa and American Railways
were again strong, but dealings were
limited. Keystone Telephone common
and preferred surrendered part of last
week s gain. The heaviness of the
Yerk Railways issued reflected dlsap-'
peintment ever the dividend policy.
9
M-.fr- .V
?WpjrfWlfc-iaife4'lti
.Wl
S3
vA.
fiMs '1
LONDON
f II f. VT . '
MmLAM BMlp
VwAfifeiKj'' l' .''
The Right HeW,R imeKeNna,
VOINT MANAGING DlkkcTOltii .
F."HY0E EeW. WOOLLEY . '
.1
M
t
$-;
AtttorlnCtilM AttterlnCtilM
M$criM CnHtal
..1 ..' 4Ar
t,'w"""'"1 UZV Mi
L - - ; -:-4i.9$i.di'ir
Sl.ttr.lia C
r f
6.MO.M21
io,aee,iB2
UAmiUTIE
Faltf-up Capital - - - - -RMerve
Wunti - - - - v - -
Currant. DflttMit Jk rMlr A4lUnie
(ineludlnff Profit Balane) - - 7e,l7,87e
AoeeptanoM Knscmnts- - lt.Mf,22
A99KT9
Oeln, Notes alanee, with Sank
sjt avngjisasiM - - - - - vWVUi2
Balances with, Ohqu in mufm
tut oallaetlan en ether Bank In
the United Kingdom -. -' -Meney
at Oall A Short Notleo- -'
Investment ------
Hie Discounted - - ? - J -
Advaness - t - " - - - - - .7,77,2a,
LlabllltlesoTOUStemersTorAooopx-, , v
aneee m. Bniaianwus - - iiSZ2
Bank Fromieeo - - - - -
haras of Belfaet Banklna; Ce.
Ltd. & The Clydoedale Bank Ltd.
f:
4
12,102,707
1i;e51,4l7
iTIMOl
72,1ia,0S4
4,e2,2ee
3,28a,e6i
Philadelphia Stocks
l:in
P. .vt.
a
Va
54
1
14
14
""
14
14
14
114
1)4
14
14
14
174
14
54
14
14
14
74
114
14
14
14
Vt
1
114
14
14
14
114
14
Is
14
2
54
14
14
'"
1)4
14
!4
14
14
14
"
14
14
"ll4
Net
Hlsb Lew p. .Vt. chge.
'lOAl'i Insur 21 'A 21j 21ij Vi
209 Am Stores DTVj 97 07 04
301 delstpf.l2l)Ms32S 121H4-1
ltu de 2d pf.lir) lS !".
10 Am Gas... (11 04 C4
nAl . v tnnnr itntl -Off'
llOAmRwis. i) n n (4
10 de pref.. 40Vi lOVl 40V4 2
ajTAnacenda 00 euyi my
20tAm,T&T.nOM! 110 110j
uu uank A A
war vv 1. r0'A r,0 fi9 1
2ntnh si 11 ftniZ ni. unit 1
20tCub C Su 14 14HS 14
20 Elec Ster.14014 14014140V4
10 Kara Plav. 77' 77 77 1
OOtGulf S Stl 70(i 01) 70U, IT's
20tIn8plrCep 30(2 !( 30
100 In Ce N A 35 35 35 . .
COflnt N'lckel 1014 10,s 10..
, 50 Key Tel.. 0:Ji 0 l) A
5 de pref.. 31 31 312
100 Lake Sup. Il4 04 W
HOtMex Pct..llflV! 115 115 24
20tMIdvale.. 33 33 33
luuywertii i'ac 70 70 70
020 Penna R R 37 37 '.ml
12 Penna 8alt 71 71 71V.4-1
tin Tll.11 . nn nt n. I
U" UII VjU c pi . .til
1257 Phlla Elec 20 20
xni cle pref.. Ii7i6
HEAD OFFICE: 5, THREADNEEDLE STREET, LONDON. EC 2
OVER 1600 OFFICES IN ENGLAND AND WALES
eVeneu Breach : 65 k 6, OM Brete Street, Uasn, E.C. 2
AFFILIATED BANKS:
BELFAST BANKING COMPANY LIMITED
OVER 110 'OFFICES IN IRELAND
THE CLYDESDALE BANK LIMITED
OVER 160 OFFICE8 IN SCOTLAND
it
Hi- i
170 Phila II T 20 20
25 UnienTrnc 30 30
28 IJ G I pf. 52 51
lOWclsbach. 43 43
10 Yerk Rwy 10 10
35 de pref.. 35 35
30
20..
27..
20
30
51..
43 3
11)
35
Aldtiti? QTru&t (irampaue
2020 Chestnut Street
Has for rent burglar and fire
proof storage rooms in, basement
About 300 cubic feet in each room
At $75.00 a year
VI
h
w
A
i
A
Safe Bends for Investment
Halsey, Stuart
& Ce. Inc.
Open
8.4JW-1V
0 HlntMO
11, 230
O.'.'S03O
Liverpool Changes Trading Hours
,ltrnoel, JIarch 27. The local cotton
etcuanze will tH opened rt 10 A. Ji, and
closed at 4.30 I M. hereafter until April
28. On Aprlj C, nt 12.1.1 P. II.. the cotton
ussoelatlens' war memorial tablet will he
unveiled and the rxchanne lll net be
jpened for tradlncr until 2 P. M, of the day.
Prices Improve en Paris Bourse
Talis. March UT. rrlccs Improved en the
Ueurte today. Three per cnt rentes. R
franca TS centimes! exchange en Londen. 4X
franca 04 centimes; D per tvjt lean. 7 franca
Va centimes. The dollar quoted at U
franca 11 centimes.
Raw 8ugar Market Steady
New lerk, March 27 The raw suear
markrt m mederatelj actle and atcady
with Cubas for March shipment quoted at
'c te 2 6-lrtc, cost and freight, and for
April shipment at 2Sc. cost and frelaht.
Sales en Trlday and Saturdaj.. Ju re
ported, asrregated 5a. 000 bais rubas. last
half of April shipments and, arrival, at
5-16e te 2Hc cost and freiaht te opera
tors, while lO.f.00 bags San Domlnses arteat
for New Yerk sold at 2 S-ltfc c. I. f.. te
Canada Arrivals of ratta en Haturday
Included 28,000 baas Cubss te the American
Suiar Itennlna Cempanj . IB.due bajrs te
Arbuckle Ilrether.i 0100 baes te the W arner
Huuar iiennina tumiwi,, .. '-""" ""' ,
the National Susar Rrrtnlng Company; 12.
000 baa te an Importer rnd 1100 baGs te
the trade. The local refined market Is un
changed, with rennsrs" list prices ranging
from 54 OC te B.SOc, less 2 per cent for
cash.
New Haven fe Isiue Equipment
Washington. MarCi 27. The New Yerk.
New Huven and Hartferd Railroad waa given
nernrlsalen today by the Interstate Com Cem
SJerc.' cSmml.s'en te sell Sl.700.00u In
eauDment trust cer Iflcatus n par. The
f?cePlTs from ths sal, the rallrnids will
use te pay off promlstery notes. Tae coin cein coin
mlsslei.. by an erdir supplementing- Its ;
cent approNel of Krle itallread refunding
tPI -ViLVKii.ill. authorized that ra read
w, extend for one vear note held against
it by the War Finance i-orneraiion. ana
.tlln ..... itir
autherised te tssua an auaitinnai fj.vii.nva
1, The Krle was
an addltlm.al J.1C
r-'i'""""'. '. whleh will be d.lliered
te the War Finance. Corporation In lieu of
ether securities of t Kris wmen matura
11." i it
LONDON 8TOCK MARKET
I
Dealings Brisk and Sentiment Cheer
ful Industrials Waver
Londen, March 27. Dealings in re
euritlea en the stock exchange wcie
innrQ brisk today nnd sentiment was
mere cheerful. Owlijg te the domestic
labor situation, thc'ilndustrial dcpnit
ment wavered. Hudsen's Hay was G:ls.
The undertone of the oil list was Hi in,
but operations were professional. Itejni
Uutch was 30. Shell Transport und
Trading 4 11-10 ami Mexican Kagle
3'i.
Heme rails wcie strong In t-pets.
Dellnr descrlplJens were hard, in sym
pathy with New' Yerk exchange. Ad
justments caused Argentine rails te
bee-Haw. Gllt-cdgcd Investment issuet
were stiff, with the tendency upward.
French leans were quiet around pre
vious prices. Changes in kadirs wcu
narrow, but quotations were bitter,
Rubber shares were chcckcied.
RAILROAD EARNINGS
ITAt.TIMORB AND OHIO
l n"
tebrunry grei 18,0!,a,072
llalance after taxes.. l',8J7,241
Net eper, Income,. 2,071,125
Twe mes gres 2U,803,4nj
Balance after taxes,. 4.ias,B7e
Net eper. Income,. 3,00 1,230
Increase
$08,4118
1.071,80.1
2.000.7O3
J.718,()7II
2.S(1L.R2'
2.827,000
TNet change made by comparlten with last
sal en New Yerk Stock Exchange.
PHILADELPHIA BONDS
1000 Liberty 1st 3s '47 07.00
11000 Liberty 1st 3s 47 OS. 12
1200 Liberty 3d 4s '2S 00.52
1500 Liberty 4th 4s '38.... 08.20
2000 Liberty 4th 4s '3S.... 08.34
15000 Liberty 4th 4h '38 08.40
1050 Victory 4aj 23 100.70
2000 Phl'n Ce cons 5h 80
13000 Phlla Electric 1st 5s.. lets 00
10000 Phlla Electric 0 101
500 Phila Electric Os 101
2000 Welsbach 5t 08
FOREIGN EXCHANGE
New Yerk, March 27. Under the In
flucnee of foreign orders the exchange
market opened at declines ranging from
1 in sterling te 20 points in Norway.
Marks showed a net less. of 1 points
at 20. Se for as could be learned,
the Influence upon the market was po
litical, but dealings arc still largely
professional. As compared with Sat
urday's final figuies, sterling wns down
1, francs down 3, Belgians 3, lire
2, Swiss 3, pesetas 1, Danish 8, Ner
way 20 and Sweden and Helland 5
each.
At the end of the first hour, marks
were quoted down te a new low record
of .20. The previous lowest figure
ever reached was .20 last week. The
closing for marks en Saturday was
.31. Other quotations were: Sterling
cables 4.37. demand 4.30 ; franc
cables 8.00, checks 8.08; lire cables
5.00, checks 5.0S. The above quota
tions show sterling down one cent net,
francs down 4 and lire down 2
from Saturday's finals.
The Ccntinl European exchanges
were quoted today os follews: Ru
manian. .72; Uulgarlan, .70; Serb
ian, 1.23; Greek. 4.10; Polish marks,
.0240; Finnish, 2.00; Ozccho-Slevak -inn,
1.70 ; Austrian, .0140 ; Hungarian,
The premium en New Yerk funds In
Montreal today was 2 per cent. The
dlsce'unt en Canndian .funds in New
Yerk today wns 2 13-10 per cent.
SATURDAY'S CLOSING QUOTATIONS
j s.l.rl,!na Francs 1,'re Oullders
Demand 4 .IS1. 0 04 B.12 87 S4
Cablea 4 18'. 0 04V, B.lj', 37.17
lOUAIB OPENING QUOTATIONS
, . s.leriLnB Cran L're Oullders
Demand 4.30H S.en B.08V4 87:75
Cab 4 37'. 0,00 sipe" Vl
Reserve Banks' Discount Rates
Official rediscount rites nt the twelie Ind
eral Reserve banks are as fellows;
Treas. l.th rnm'i ni...
ctfs. bends, )rper. accent.
Rosten 4Vb 4' W 41,
New Yerk 4' 4'J 4S 4U
Philadelphia 4 4, 411. 41Z V
Cleveland 4S i 4 Ji
BOUGHT, SOLD AND QUOTED
Amcr. Power 4 Lt Stock and Bends
Buenes Aires 8s, 1626
Charcoal Iren Ce. 8s, 1931
Columbia Menteur Elec. 2d Es, 1945
Darby, Media and Chester 4 Us, 1936
Empire Gas and Fuel 6s, 1924-26
Federal Light and Traction 6s, 1942 .
Hershey Chocolate 7s, 1930
Jer. C, Heb'k'n & Pat. St, Ry. 4s, 1948
Ken. & TV, Va. Pw. Ce., Stocks & Bds.
Kansas Gas and Electric 6s, 1952
Knickerbocker Ice 6s, 1941
Luzerne Ce. Gas & Elec, Es and 6s
Lehigh Power Stocks and Bends
Medl Railroad 6s, 1960
-Metropolitan Edisen 5s and Ss
Municipal Service 6s, 1940
New Orleans, Ry. & Lt. Stocks & Bds.
Paris, Orleans Railroad 6s, 1956
Phlla. ft "Western Railway 5s, 1960
Paris, Lyens & Medltcrr'nean 6s, 1958
Strawbrldge & Clothier 6s, 1942
Tayler, Wharten I. ft S. 60 and 7',js
Tenn. Power Ce. Stocks and Bends
West Penn Power Es, 6a and 7s
aeairigf invitti en eU Foreign uittt
ftffCewntCq
LAND TITLE BUILDINQ.
PHILADELPHIA. PA.
Members Philadelphia Stock ExehaaM
WESTERN MARYr-AND
Iebruary gross Jl.fi04.O40 13 "in
Net eper. Inceme,. 288,81s 5l ui"
Tv inenins' gross.,. ,ns2,30S "is tub
Net oper. l..eme.. 032,570 04481
ONTARIO AND WESTKRN
I'ehruary gross .... $030,020 10.41.1
Net eper. Incems.. 7.1007 as oeu
Twe months' gross.. 1.7U8 200 n:m
Net eper. denclt.. 17,322 ll."7
Decrease.
BANK CLEARINGS
April 1. ;
i
Hank clearings today, compared with cer
respond xu day last two .ear.,
Phlla.. 1114.000.000 I.1.17B,47 I8S.412.BH I New Yerk. today at SOHe per fin ages
N. Terk.iSSe.SeO.ant SS7.SM.DS4 eej.lO'J.JSl 'foreign. 84J1C an advance of He. In Leh.
B,VSD,ggv m,nw,vaa iivn,.i n 101 price waa no nigesr at BSMfli
for"
Bosten
MONEY-LENDING RATE8
NEW ORK Meney or call, both classes
nf collateral, opened today at 4V, per cent
fill laticllniv atiil e-an iuln n. "
SIUHI gIU IVIIVVVIIIRi
. PHII.ADKI.PHIA Call, a per cent; time,
B per cent; commercial aper, threa te six
iiiuiiina, u tu u', per veni,
M1NDON Meney 3ii per rent. Discount
".V". iJ10Lt.,',l"..,a "r nt; three months'
b lis, 31 3 fi.K) per cent.
Beles West weed
MembaW Phila. leckExchandej
INVESTMENT,
SECURITIES
LandLTitle Blde Philadelphia
PHONE' LOCUST 4721
fit
tf1
tl-JI
vm
Hallf Millien Fund
Untouched
The Evsss DtDtil loitltstlen IstTl
two etnas bests is U tusk, ent s
isisias sits oeu is netss sua sous
ssil l,000 is Ubtrtr Bndt . Tklt
ut ttresi be tstt wti "cltisrf
eel" bt Usftr The etktr Ml
Ulstd sure this 1500000 ! mart
isfts, SMMtli ss Bteeerti st CUbti.
slstb street aae Bretavsi, Nr letk.
ted UtM stcurtttu trt estwebtd. ss
uii srtrs set essui cesttruwt isu
'fl
.4oeve la a Reprint Frem1
The rubltc Ledger March I
A mortgage is the safest In
vestment an earth. It Is net. I
at the mercy of embezzlers or ,1
eijcvuittiw.a. nine tut uw.1
let D. giving outline of an
Investment plan that is as safe
as it Is unique.
GENERAL MORTGAGE
FINANCING CORP.
Ridce & Girard Aves. ,
Investments
Baker, Yeung & CenpitV
JOSEPH W BWA1N Jr., iw
Und Title Bldg.
Bosten
w
PhiUdelpU
Fer Sale
50 Shares
Girard Trust Ce.
Stock
CLINTON GILBERT
X Wall St., N. Y. Tel, 484S Recter
Georgia Ry. & Power f 9,
Bends and Stocks j
A- I.I..IIim mlfiinflnn OlifS
aecurltu value and tandtA
peicer it presented- In tht
securities.
We have active markets Int
Bends and Stock of this Ceif
pany. i -
Reed A. Morgan & $
Wcat End Trust DUlp . l'hOe.,
Member of the Phila. ew "-rT.1
Richmond B
Atlanta 4'i
Chicago 4a
St. Leuis . . B
Mlnneaue'ls B
Kansas City . . . . S
Dallas B
dan Francisce,, , . 4'i
B
4,'
4'
B
tl
B
B
1'i
B
r
B
B
B
4'i
B
4 '4
r
B
.1
u
BAR SILVER
Demestic bar silver was unchanged
Stock Dividend by Franklin National
Franklin National Dank directors today de.
cl"Irt a stock dividend of Be per cent out of
undivided profits, payable te stockholders (if
record March 81, The new stock will be
dated April 1. VV'nrrants for one half nIikii.
will be Issued. Payment of this ateck dlvl
ilttiil was provided for by the recently im.
000,000 te ll.5CO.000. 'llu regular quarterly
cash dividend of ( per cent aim was declurrd
Ml" jayaljle Apr" ' ,0 lecK et rew.rU
Belmont Trust Offers New Stock
The Ilclment Trist O-iminny Is effeilnz'
present stockholders fl2,."'(' of new eteck ut
par ($30) a share. This Is part of un In
crease autherlsel recently, the capital stncl.
hanc been Increased from tl'.'.l.oeo i0 i.-ae..
000. Btockhelders of record March IS have
rights te subscribe te the new ateik en the
baaia et one. share of the new for Vh two
shsres of present outstanding ateck. Rights
must be sisrclsed en or before May 1.
Insurance Bends
One of the largest Insurance Companies
la Issuing "AAA" Hern en a long ma
turity basis, which pats out In menthlt
Installments Income and Inheritance
(ax free. Sold en Installment bas's or
outright.
Ker particulars eend postal te
S. H. OURBACKER
912 Merris Bulldinir
Telephone; Hprura 1371
(Dally between ISiOO nnd S;00)
Hathaway, Stene, WallacsJ
ft Williams, Inc.
rOlTOHtS
wttr
MAN.V
J
tfn Semttm St.. tkiUdtttrnt
vnxxsfsf
OpBratini: Manajrement en
T...t.lnl Knternrises.
Industrial and Technical InwJ
tlentlnns and Kenerts. Censiw
intr rtnRineera teManuwrturf
Bends for Investment
C )".'.' rnt,..l
rrreee(f"f Of-s f-, n...'t rillm.
hlliMlrlpliln 141 Chestnut Si
Ath"ne ni)-".v ne-",nJ
The National City Company
WIEGriER.ROCKEV GO.
Certified Public Accountant
DraMl BsJIdiaialltailfswi
ADDITIONAL CAPIT
Will handle stock Issue of I'k?
nig concern', no promotions. "',,
ib nut en cnergetle campaign If yrJ
position has geed H'7 ,,'lh erdsrl
Ulders. -Refertnces of Ills" ma'l
changed. Xfj
, tl 8S0. I.KOOBK urrnn jjj
UOMKX IN roNIIRItehT N"' ,
en yar in m "":,,, ".-Jy fro'
In the expsrUnc. of this I-a
hema. te appear In the "'" .ruJ
rrhal'H wllal AUC) llu"'' Tr.". !,..
nnivear In tha Heuse. .Yeu w J2
naxl Sunday's l'uu .ihj.
Habit-" MV. '
'Wsm.
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