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M BeHAble5kinTnfaimcnt
S(?t -i. .
Kl t J aTs-g ,..--
NKHaffnitLrHllw
, Wa are equipped te de the
work at your plant and savs
you the expense of long tie-up.
Phene Wl. 1114 nnd Miln3444
na-aaas.OAWiENST.
tSALKS IN MOOOl
Arc Rcp'c BSklfuraem Ner-
l 83 H, ware w
T(nl) 834
Art Hep'e Tii
10. .
8..
1..
00 H
004
89 H
00 H
08 H
094
00 ti
Unlimited Funds
Fer First, Second, Thrd
or Building Mortgages
QUICK ACTION
ABE KOLSKY &
COMPANY. Inc.
N. W. Cor. 9th and Walnut Sti.
8
3
0
1
Cana'n Pacific.
Ce d wl
1 77 4
8 774
3... . 77 4
J. ... 74
Chines (lav't
- z - . -1
H-K Rly 8i I.
1 . . . .18
1 . . . A3
City Htrns 8s
1 ... 1184
City of Rergen
8s ret
2 .. 1004
1 . 1094
1 . . 10114
City Herd'x C.
2 864
2 .... 884
804
804
804
80 14
80 .
80S
80S
I 10.
1 .
1 !:;
1 .
i
&
tfJ T w
EHRETS
SLAG ROOFING
AEHRET reefing & .A.
i VM
City or Copen
hagen 34
1 WIH
0. ..02
r 1124
13 .. . ps
1 .... 02
1 . . 01 4
City Ly.n Os
3..
e
3 '.
2..
1 .
4
1 .
5 .
3
rz
fifty nvfc
s
10.
8.
ft
e
1
1
1
1
SL COAL STRIKE 82
Yeu mux lis unable te get sinrk or pte
pnrrd coal for enr stoker. Speclillged
'Pennsylvenla" Crushers Prepare All
Kind nf Ceal nml Coke for All Kind of
Stokers. Prompt deliveries.
PENNA. CRUSHER CO.
Stephen (ilrnrd nnlldlng
Phene Kit. ?1J ler JitormeHon
Tennessee Ry. Lt. & Pew. Pfd.
Empire Gas & Fuel 6s, 1924 & 1926
Lehigh Pew. Securities 6s, 1927
Cen. Cities Lt., Pr. & Tr. 5s, 1962
New Jersey Gas 5s, 1940
BAUER, STARR CO.
Land Title Building, Philadelphia
New Yerk Office. 2. Recter Street
Direct Private Telephone bet. Offlcet
ADDITIONAL CAPITAL
Will handle stock Issue of hlgh-clas go ge
mr cencern: no promotion. In position
le put en energetic campaign If your pro pre
position ha geed Hat of satisfied i stock
holder. Reference of high order x
changed. C 820, LEDGER OFFICE
80 H
80 4
804
8H
80S
80',
804
80 H
80 4
City Mar' 0
. 80S
. 80
. 80H
. S0'
r 80 H
. 804
. 88 H
. S04
3 .. . S0
i ... 86,
Cty Rie da Ja
' nerle 8s
2 .. 102i
I 1 .. 102S
, 1 ... 1024
1 2 . .. 1024
1 City Teklo 0
I 10 70i
1 City Zurich 8
i r. ... 114
1 1 .. 113
Cuba n R .Is
1 81
Cty San Paule
8 wl
4.... 1024
3.... ,1024
2.... 1024
1.... 1024
Denmark Cen
ct A 8s
i.... ins
1.... 1114
Dept Seine "s
2 OS
S OS
2 OS
8 05
S 044
0(ale) 04 Vi
6 (flat) OS
13 (flat) 0S4
2 (flat) fl.V'l
R (flat) OS
3.
r.
1.
1.... 113.
K 8wdn 8
1.... 100 U
Parts-Lyens M
1 0SU
QuMnd'a Ett
bean Tt
!... 108S
1.... 108U
Rtp Chll 2
1.... 1014
Rep Chll '41
.... 103X
1.... 104
10.... 104U
R'e Cuba 4 H
i 78 s
R Cuba 8 '04
1 OOU
S Perta rt S'r
Ts reta
3 074
.'(ate of R U
Du Sel 8
1.... 1014
O K Urt Drlt
I'd 1037
004
004
69 Ti
luu
100
00 s
mi's.
0(ale) 00 ,
1
1 014
Ctl Lathr s
1.,... ft
Oare'da Faa'e
Oep'r 8
10.... 113H
CaOev 44
BO 84 H
Ck Ohie 8
1 004
Ck O C tl
4 88
Chi B Q Bt
B 90S
10 084
3 08 V
C B Q 84
3.... 1084
1.... 10S4
8.... 1064
3.... 1064
0.... 1064
1.... 10644
C a E I B '!
4 774
2 774
8 77S
Chi O W 4s
1 61
Chi Mil ft l'ft
sound 4
3... . 00
1 004
1 004
Chicago Mil ft
St P 4 '23
1 784
3 784
till 'Chicago Mil ft
S. . 100 j atP fd 44
0.. . 104 1 80
U S Urazll 8 Chicago Mil ft
0. .. 10SH St V cv in
3.... 10SS 4 83H
2.... 1054 10 CSU
1 ... 1034 1 00
U S Mexico 4 1 0S4
1.. .. 474
1.. . 474
1. .. 48
8... 474
30(a!e) 47 H
A Geld M cv A
1 (flat) 11
10 034
Chicago St 1"!
M ft O Rs
8 004
8 004
Chi Rallw' 4a
S 70
Am'n Agr'c A 3. ... 70
Chm 74 ' 8 784
1 ... 101 4 C R I P fd
101-4
1.... 1014
American Sug
Here 0s
11 084
1 084
7(al BS4
2 (flat) 08S
1 084
2 .... ORS
1 084
08H
084
08H
H8S
Am T ft T clt
1 804
2 ... 804
A Tel ft Tel 3s
I-
0S
ns4
08
03
113
1. 05
1 .;. 014
D Canada 'Vtl
4 084
D Canada '20
1 100
I 004
. li. ... nes
i 4 .. . ne4
1 1.... 100
D Canada '31
I 1 no
N A T I e - A I. it A .- i Dtch E Ind'a
fls ret
riNANCIAL
UUIdrnd
3...
2...
n
s!i!
i...
8...
1...
04 4
04 4
04 4
04 S
044
04 S
044
04 4
m m -v U 1. 1 N
t . . U. . Wmm nf RmbJ
inmnui pim . "l" "" iX"". i
fhlladeipnia, aiarcn ... iu.-.. i -
'- The Heard of Director of the FRANKM.N ;
HATlONAl. A1V n&a Vlt.a uj- wuwtw
iteck dividend of fifty per cent (80) from
th undivided profit of th bank, payable
April 1. 102. te atockhelder of record at
the close of business en Marrt. 31: and In
creased ths capital stock of th bank from
11.000.000 te tl. 300.000.
interim ceruucai tu ei.ii. . '- ri,,,-,, c. ,nii-
.,...,'., ,. ,l.!.,l Atirll I. 11122. u111 be Dutch E Ind (
IIUIIBI BIItV" ,.. (.(-... - . -... - i . -
..li n 4'V-hr1.1ir " nl
, J. V.r. HAUDT. ' 10 044
Vice President and Cashier. I 2 .... 04 4
Ce't Frencn
FRANKLIN N A Tl (I N A I. II A N K R '!, rct
Cheitnut Stnst Hest of llreiitl i 10 . . 10'J
I'nuaeHipnin. ..iurcn i. in.;..
At the reeular meeting of the Heard of ,
Directors of this bank held this dav, a riuar-'
terly dividend of Q7r was declared, free of
State tax and payabln April 1. 1DSS. te '
atockhelders of record at the close of .butl
Bess March 31. 1022.
Check will be mailed.
J. WM. IIARDT.
Vice President and Cashier.
Annesl Meeting
tar" THE PENNSYLVANIA RAILROAD
KB COMPANY
Geeeral Ofllrei Bread Street Station
Philadelphia, Slat March, ler..
Th Annual Meeting of the Stockholders
t this Company will be held en Turcdajr, the
lllh of April. 1022. at 11 o'clock, A. J.. In
the Feyer or in- acheih- e. .music, tireaa '
rid Locust Streets. Philadelphia, at which I
muting the Annual Repert of the Heard of
nireeters for tti year ended 31st December.
1021. and tuclv ether subjects as may be
.
10 .
3..
1..
1..
102'i
103
103
102Ti
103
1024
103
1024
2.... JOS
2.... 1024
10... . 103
Oeve't F R 8s
3.... 1074
1.... 1074
1.... 1074
3 ... 10T,
1 ... 107'
Gr'd Trunk of
Can 6s rets
1.. . 101,
1.. . Ml'i
8.. . 10:
11.
1.
1
4. ..
3.. .
1...
1...
1...
2...
00',
00S
004
004
004
064
00 S
064
A Tel ft Tel s
10.... 114
IS.... 1134
1.... 1134
1.. . 1134
21 1134
Am'n W P 6s
1 82
1 82
1 82
Armour 44s
1 874
B 874
6 874
Ann Arber 4s
86 4
A T ft S Fe aj
81V
A T A 8 F 4
8 674
1 874
A T ft S Ft
Ariz 44
IS 00
4 no 4
.2 1
1 01
Atch T ft S F
Okla Dlv .',
3 03S
A C Line 4 4,
iv out
Atl'c Fruit 7
1 374
A Powder 74s
103
Bait A Ohie cv
4 784
1 784
1 784
l(sle) 78
784
784
784
784
784
-' 784
Bait A O 3 4s
7 2
Delt ft Ohie 4s
1. . 784
I. . . 78
4.. . 70U
Dalt ft Ohie 3s
1 . . 82
1 .. . 81 1,
Bait ft Ohie As
50 704
1 70
C R I A P 4s
4 824
3 824
Chicago Union
Sta 44
3 02
Chi & W I 4
0 .... 724
1 .. . 724
Chll Cep'r 6
1 834
5 .. . SO
Chit Cep'r 7
3.... 101S
3.... 1014
CI'd Cln Chi ft
St L 44
1 00
CI'd nil -.hl ft
St Leuis e
4 004
C L A Wh Bs
1 OSS
Cel F'l t Bs
1 85
Cole A S'n 4
4 014
Columbia O A
E lit sta
1 01
C Tab ft R 6s
1 034.
1
1
B
4
1.
4..
1..
3..
3..
1..
1 ,
15..
10..
084
08
084
084
08
084
084
084
08
properly presented, wut be submitted for Jap Ueen't 4siuell Telephone
consideration ana ucuun - me aiocxneiuers.
. Stockholders may obtain copies of the
Annual Repert of the Company and the neces-'
sary tleketa for admission te th metlng en '
nd aflr the 4tli day of April. lOJj. by
...l acultratlen at. or by letter i tti. I
Secretary's office. Roem 260, Ilread Street
Station.
Fhll.idelr.hla.
LEWIS NEILSON. Secretary.
3.
1
13.
4
1
A.
4
5
1.
4.
1.
Due. Light Us
1.. . 1014
1.... 1014
2.... 1014
3.... 1014
1.... 1014
3 ... 101
Due. Ltgt 74
1.... 1044
1 ... 1034
ErI Oeni Lien
1 444
1..
1..
Eri ft n cv A
a 30
16 384
1 . 384
Erie H It cv D
0 42
3 . 4'.'
4. of Pa 7s c-rl '"' t- '
74M 3. . 1074 ' r'04
744 1 3 ... 107, Krl" & J,' 0J
74 4 1 1 . . 107 41 '- fcO
744 Beth Steel fd ,rl,k Rub'r Ce
744 1 02 I 8 "
744 1 02 I 1 104 4
74 V Beth Steel 1st ,'ort Werth ft
B ft O P L E
A W Va 4s
1 704
1 704
Bait A Ohie 3
We'n 34"
4... . 81)
1 . .. 80 4
8
i.i. it
T(tal)10T
.... 1674
1.... 1074
.... 1074
O Ray A w t
18(s!e) 94
IB..... nti
Helt Madiy 8
,.... 100
Mud a Man fd
1 70
I TB4
804
0 864
1 Ull
Hud A Man in
23...,. 604
iu 60
1 60
1 604
. 1 004
nit eri 4 'Si
. 1 80
Ills Ct'l BU
a OR
1 oeu
III Steel 44s
1 01
S enu
Info Met 4 4s
' 144
6 14U
Int M ct 4 4
in 114
tntb'e R T fd
30.
4..
28..
B..
10..
6..
6..
R..
3..
3..
21..
10..
1.
004
604
604
604
61
604
604
60S
604
604
604
60 4
BQN
..
1...
1...
B...
1...
3.-..
2
3..
Cen d Ceal e
of Sid Bs
2 874
7 87S
Cens'd Oas 7s
2.... 1074
5.... 1074
Cuban C'a Sur
8 ta
1..... 844
3 84
1 844
Del A Hud cr
42 04
8. ... 04
1 04
3 04
Del ft -Hud fd
1 SOU
Den ft R Q fd
IB 434
Den ft R O 3s
4 704
3. ... 70.
Dt Edl 3s '40
1 nmti.
4 03S I M K ft Tex 4s
1 034 774
4 1134, ! "'
I M Marin 6
034
1 054
s ns4
5 ns
Int'l Pap b Bt
. 1 84
Invincible Oil
Cerp'n 8s
1 054
2 054
2 05
1 03
low Cent'l 4
S 40
1 40
3 40
4 304
12 40
Iowa Cent'l 8
3 784
2 78
Kan C Ft 8 A
Memp 4
10 774
1 77V
Kan c A S 8t
3 nsu
Kan CAS Ss
1 86t
Kelly Sprlng'd
Tire 8s
4.... 1064
1.... 1004
4.... 100
6(sale) 100
K county E L
ft P 6s '07
1.... 101
Le ft Nash 4t
B 01
L ft Nash 54s
7 102V
Le ft Nash 7s
2.... 10'
Market St Rly
a Fran 1st
10 88U
Mer Petr'm 8s
0 103i;
Mich Ct'l d 4t
46 00
Mid S ft Or 5
3 84 U
Mln ft St L 4s
1 40 V
M BtP A S Ste
Marl 04s
5.... 102
M U ft 1 at v.1
1024
1024
1024
1034
1024
1024
1014
1014
Isale)) 1024
2.... 1024
8.... 1024
B lf15'4
N Tk W 1; A
nest 44
8 42
B 4.1
N'la F Pwr fls
1.... 1014
1.... 1014
1.... 101V
1 101V
Nfk S'n R St
30 04 V
11 63
1 04 V
North We.te'n
Bell T 7
6..
7.
1..
1.
n.
10.
30 ,
30 4
304
304
50 ,
304
80S
504
1 031
Det Edl Ce 6
2.... 1024
3.... 1024
I.... 102i;
3 1024
Det V R 4 4
7 78
D d Nemours
Pwdr 74s
1 101
2.... 1044
2 1044
104 4
1()(
104
104 4
M K ft T 44s
4 774
M K A T Bs vi
2 814
1 82
2 83
3 8?
M K A T 6s wt
7 044
B fill.
M K A T note.
25 flOLA
Me Pae RIJ 4,
2 024
-!3 021
1 024
I . .
1TJ4
107
147 V
1074
1074
1074
107S
1074
107 4
0...,
1..7.
1....
6....
.
4....
1....
3....
1
N Tk Light
A Fwr 4
1 RAU
N Tk Light H
A Pwr B
2 86
New Y N II A
Ilart'd 0
4 6711.
New Yerk O A
W'n m 4
S OStt
N Yk Rly it
6 84H
B 844
N Yk Rlya 0
1 TV
N Yerk ,Stat
Rly 44
1 664
1. ... 664
.V Y Tel 44
2 01H
1... . 014
3... . 01 li
N Y Tel' '41
1::
1..
1..
1..
3..
18..
0..
10..
13..
3..
107
1074
107
107
1074
107
107
10T
1064
107
107
It L a 8 r In
1..... am
3 624
1 634
4 69U
ilUtH fran
MMe a
S T0H
1 704
1 70S'
1..... 701
It L A S Fran
Srla B
1 84V
1 81U
It L A Fran
strlc c
1 084
10 00
8 00
10 09
8t L Sew'n Bi
1 70
8 70
St Paul A K C
8 L 44
8 78V
San Antenla A
A P Rly 4
2 744
Seab'd A L aj
6 104
4 10
8eab'd A L fd
! 864
8 A Ij 4 sta
1 S3
Seab'd A L 6
B 404
1 404
8h Steel. II 8
S 0314
Sinclair C Oil
cerp'n 7 wl
13(tale) 08
S 08S
le 084
0 08H
2 984
2 084
8 084
3 OSS
Sinclair C Ull
-erp n 74
3.... 1034
B ... 1034
25.... 1084
12.... 1034
1.... 1034
Se'n Facile fd
25 80
6 86
S'n Pae cv 4
1 804
3 80S
C(tale) 80S
23 "80
40 en
8n Railway 4
3 0.1 U
Bn Railway Bs
N raclftc R 3s
1 614
N Pacific R 4
3 8B
Nth S Pwr Ss
5 80S
1 804
3 80S
B ROh.
N IUI! read of
calif B
2.... 102
2 101 u
Nlh S Pwr 6s
1 eau
Or A Calif Ss
2 07 V
10 07!i
21 08
Oregon 8 I, 4s
2 004
8 Ot
13 00V
Oregon 8 Lin
guar'd Ss
1 n-
1 004
10 004
2 oeu
Ore-W R R C"
N Ce 4s
1.
8. ! '. '.
n
25.!.!
4....
0....
14.
704
704
70
70
784
70
784
784
Otis Steel Ixt
1 074
V Coast C R
1 771,
.Packard Moter
Car Ce 7s
1.... 102S
Pa Rd gm 44
1 874
2 88
1 KB
Penna R R 3s
1 004
1 064
6 004
3 nni:
Penna Rd 64
I.... lOfli.
I'enna n R
2 10
Pere Marqt 3s
1 031-
2 03
" Ofll
2SIPItts C Chi A
2 024 ft I. a 5:
1 24
Mj Pic 5s '28
1..
1
4..
1.
1..
1 .
15..
044
Ot
04
034
OSS
084
ess
Sn Rall'y 04
10.
5...
1...
1. .
3. .
1 ..
1..
2e!!!
IS...
is. ! .
IS...
15..
I...
4.
054
OS's
054
834
OSS
0B 4
054
OS's
054
054
no
ips 4
00
004
or.
OS 4
Stan.rd Oil of
Calif 5s
1.... 100
1.... 10O
2.... 1054
Steel Tube Ce
of Am a 7s
2 87.
1 074
Third Ave J
10 B3
Third Ave 4s
1 054
1 64 U
Teledo fit L ft
Mesfn 4s
0 nr.
Union I'ac v
GOSSIP OF
THE STREET
1 . . . - - - 1
20. . . OS'
10 nan
Union Pac 4s
1 004
14 1104
1 ne:
U Tank C 7
1 . . . . 103
Unt'd Drug 8s
1.... 100:
U 8 Realty ft
Impv't 6s
23 04V
U S Rubb'r Bs
804
804
87
87
87
80S
87
Fer the first time in many moons the
speculative element, aftei closing yes
terday, were almost wholly committed
te the short side. The recent top-heavy
aspect of the market waa "freely dts-
cusied and It waa pointed out, became
of the ever-extended position of the
peels and speculative combinations, the
market had reacheda position where It
was sensitive te bearish influences.
Many of the active sellers yesterday and
Saturday had fought the advance con
tinually since last September and haye
new come te the conclusion the market
1 In n position where larger lines of
shorts can be put out with n reasonable
degree of safety.
Fer the moment concerted efforts are
being made te force liquidation of the
sugar, meter and oil stocks. The sugar
and oil stocks, annnrentlv. ween stnaied
out because of the rumored new financ
ing by these companies. Interests con
cerned in both e( these Industries In
sist, if new finnncing was even con
templated, the companies are in a posi
tion te enter the field te obtain credit
en favorable terms, which is anything
but n bear argument.
Demand for Short-Term 'Nete
Investment hrnkprs rrnnrr an cteA.
lent demand for short-term' notes and
say there Is also evidence of renewed
activity and strength in the acceptance
market. Dealers recently lowered their
discount rates te 3 nnd 3 per cent,
but owing te the scarcity of bills there
was net ns great n degree of activity
n- might have been expected with a
larger volume of paper nvnllable.
It Was nelnted out that the alnwnixa
of business has been a .factor in pre
venting the creation of new bills in any
thing like the amount that have been
called for recently by ' reason e' the
comparative case in money.
Giving a Helping Hand
A geneml feeling of satisfaction wok
expressed In local financial circles yes
terday In the renert that n concern
which had been making a heroic struggle
10 Keep its nenu aoevc water had been
given the helping hand by prominent
banking Interests in this city and New
Yerk and was once mere placed in it
solvent position. The concern in ques
tion had a wonderfully clean record
nnd always was prompt te meet all ob
ligations. The recent difficulties were
virtually unavoidable by reason of the
existing business conditions.
A committee of bankers, several weeks
age, made a hasty examination of the
company's affairs and were entirely
satisfied that the conditions were only
temporary nnd could cabily be over
come. In consequence, prompt finan
cial assistance was granted which put
the concern en a strong fiunnnclal
standing again te meet ull its pressing
obligations.
The Rising Tide of Sterling ,
Advices te the Department of Com
merce at Washington, giving the Im
pressions of experts in Great Britain
en the underlying Influences en inter
national exchange, refer te the declin
ing experts from the United States be
cause the shrinkage of experts te the
United Kingdom lias net been accom
panied by nnv corresponding shrinkage
in imports of British goods.
This trade argument Is clearly hound
ns n reason for some of the recent
strength of sterling. The buying of se
curities by American individuals and In
stitutions from British holders, the nur-
S21 ' chnse of British Treasury bills for
American insurance companies nnd the
granting of dollar leans, considerable
parts of which eventually find their way
Inte sterling, are nlse believed te. lmve
played a large part in the recent
strength of sterling.
Finally, it is nrgucd that the pros
pective co-operation of Eurepenn no
tions in the rehabilitation of the Con
tinent greatly improves the outlook for
British trade. There are. however,
various elements of uncertainty for
which allowances must be made.
l... . 004
Ment'a Put 3
10 04S
1 044
2 04 4
Mentr'l Tram
wa Bs
1 80
2 SOU
44 it ,31 A Es'x3'4s
44S I .
4 7.1U
New Or Tex ft
.Mexico Ss
2 084
'.v V (.'ent'l
i 1.. . 871-
I N Y Ct'l en 4
1 4 .... 80
22 SO
28 80!4
N Y Ct'l 14s
1 1.. . KM-
N Y cent'l H
V S Rubb'r 7
3 llll ,
U S nub 74
1 04M 3 1034
Pre ft ReflnerslU'd S Steel Ss
war'd 8s
li.... 100.
5.... 100S
3.... 101
2.... 1014
2.... 101
3..., 10)
rub Serv Cerp
N Jsy E
1 814
B 81i
1 814
1 824
10....
s ..
1014
1014
miu
Utah P4l.li
1 004
10 00
Va-C Chm 1st
2... . 074
Va-C Ch 74
2 ..06
2 06
1... . 064
06
Western Horizon Brightening
Continued casing in money rates
throughout the West afford signs of bet
terment in commercial and industrial
lines. Banks nt the larger Westcrn,eon Westcrn,een
ters report mere inquiries for leans,
coming largely from agricultural sec
tions as well as in mercantile lines,
whereby buying has been of much larger
proportion for the spring and summer
trade.
Furthermore, there are evidences of
a willingness by banks te assist bor
rowers in need of funds in many lines of
Industrial activities. Applications for
accommodations in purchases of real
estate and building construction hare
increased, resulting in the snle of ma
terials In a much larger volume than
XnrthWrtrn'a 'mti revenue ' lead
ings for first twentyflve days of March
Increased 0438 carloads te 196,871.
Norfolk and Western Railroad has
called for payment, at 101 en May.l,
1022, entire issue of $2,500,000 four
year 0 per cent notes due May 1, 1024..
Netice has been received by the New
Yerk Stock Exchange fremPactflc Tele,
phone and Telegraph Company of a
proposed Increase In the preferred stock
from .OOOiOOO te $82,000,000.
The War Finance Corporation from
March 23 te March 25 Inclusive ap
proved 121 advances, eArregatlng $8,
324,000 fey agricultural .and livestock
purposes. , V
The Secretary Of State for India is
asking authorisatien te raise leans" in
the United Kingdom net exceeding; 150.
000,000 for service of the1 Indian Gov
ernment secured by its revenues.
The avcroge price of the twenty
active Industrial ' stocks declined .48
per cent te 80.00 yesterday, while the
twenty railroads declined .40 per cent
te 78.70. , .
The Government of Panama has In
tervened in the affairs of the Panama
Bank. It has ordered as a measure of
protection te local depositors that no
funds be sent out of the country.' .
Repert of the Celluloid Company for
the year ended December 31 shows a
,ieflnit nf SI. 1.4(1.230. after denreciatien.
inventory reduction, taxes and ether,
charges, compared with a net income of
SI .072.413 for the previous" year.
The Callahan Zinc-Lead Company, in
its report for last year, shows en oper
ating deficit of $150,270 after rents, in
terest, development and ether expenses.
The profit nnd less deficit at the end
of the year was $504,044.
Kuhn. Lecb A: Ce. and the Hrst Na
tional Bank, of New Yerk,- have pur
chased from the Delaware and Hudsen
Company, .subject te approval of the
issue Inter.by the Interstate Commerce
Commission. $7,800,000 fifteen-year
GV per cent bends, due May 1, 1037.
Net sales of the Goodyear Tire and
Rubber Cempnny for the ten months
ended December 31, 1021, were $82,
1115,050, nnd the net profits, after
manufacturing costs, selling, adminis
trative nnd general expenses, totaled
$0,040,285. according te figures sub
mitted at the annual meeting of stock
holders at Akren, O.. yesterday.
Ver the year ended December 31,
White Oil Corporation nnd sub
sidiaries report net less of $2,643,020,
after chargei, taxes, depletion and in in
venterv adJuJfc-urnt. Tills compares
with net profit. of $1,210,032. equiva
lent te $1.77 a shnre earned en the
CS9.040 shares of capital stock of no
par value in 1020.
With the thirty-eight engines booked
Inst week, Including twenty-flve for the
Philadelphia and Reading Railway, the
Baldwin Locomotive Works has new
about $0,000,000 business en Its books
te compare with about $8,000,000 nt
the end of February. Plnnt continues
te operate at 30 per cent.
Advnnce-Rumlcy Company has Issued
Its report for the year ended December
31, .showing net less of $1,004,210 nftcr
charges and Inventory adjustments.
This compares with net Income of $1,
277,231, equivalent nftcr preferred divi
dends te $3.84 a share earned en the
$13,750,000 common Meck in the previ
ous year.
The American Besch Magneto Com
pany for 1021 reports a net operating
less of $230,177. against a profit of
$1,d0.i,UIK! in iuu. Alter uiewing ier
inventory adjustment there was a net
less of $2,040,002, against a profit of
$045,700 in 1020. After payment of
dividends there was "n net deficit of
82.100,002. against a surplus of $05,
700 in l!)-'0:
LIVESTOCk QUOTATIONS
Pittsburgh. March 28. HOOS Receipt,
1000 head. Steady. Heavies. 110. 50016.63;
heavy and llpht yerkera and pigs. 111. IB.
SHEEP AND 1.AMIIS Receipt. BOO head.
Steady. Hhccp. 0: Inmbs, $14.25.
CAl.VES Reci-ii' head. Lewer.
Tep. 110.50.
..M.ii.njsMW'"a
T8EMNM
Tr,Mury Hu Ne Recerd of Gift
of $20,000,000 War Profit-,
. 9ayp cretary
MANUFACTURER IS SILENT
ri I
Detroit, Mkji., March 28. A staff
special, from Washington te the Detroit
Journal yesterday afternoon says:
"Secretary 'Mellen, It became, known
today,' has Wiled upon Henry Ferd te
make an explanation of 'he claim that
$20,000,000 of the Detroit manufac
turer's war profits have been turned In.
te the Treasury of the United States te
be used as the Government sees fit.
"Ouum. M...1lMln., nf m kftMr AallAtl
'The Truth About Henry Ferd' aroused
much Interest im Washington, for it
was announced that the book had been
written with Mr. Ferd's approval and
that the facts It contained were col
lected at first hand from' Mr. Ferd and
his associates. The book declares In
unnuallfled terms that war profits
amounting te $20,000,000 were returned
te the Government by Mr. Ferd and
that his extensive war contracts did net
yle,ld him a cent of profit. "This assertion-was
immediately denled-by Treas
ury officials and Secretary Mellen has
conducted an Investigation which re
veals that Mr. Ferd collected the full
price for all articles manufactured for
the Government, irem .agic Deats te
Liberty meter parts.
"Secretary Mcllen's.. investigation
further revealed that the Bureau of
Internal Revenue has been unable, dur
ing the three years since the end of the
war, te discover just what the war
time profits of the Ferd plants amounted
te. Trenmirv Dennrtment agents havn
endeavored te get this Information with
out success. . . . .
"Despite Secretary Mellen s denial
that Ferd has made the United States
a present of $20,0007000 no explana
tory statement has bee made by Mr.
Ferd. Neither has Mr. Ferd repudiated
lA'Juimi' ''Ut tH IJMit M
j""""-'"!. .-.---.7"ii.vima :7&i3
-.... uaiiiu,, .wrirpn jsmi-v ion.
.?s."i. jr;;:i j;v.i:-. Sr r& .
IBMing nun tur, an Mimnvni , - .
,. "In, m, letter wrlttenUb a mealier of
tne. nenate. wne was inivrwcu n i
covering the truth abent the, nutter,
Secretary Mejleh" described Ferd's
financial relations with the Gevernmint
In connection with war profits.!, The
letter from Secretary Mellen says in
parti ,,ii '. '
" 'I have had this matter'lnveitlgatcd
In the Treasury and find, that the
rennrdu de tint aliew the receipts of' any
donation from Mr. Ferd." I have ac-"
cemingiy written, direct te. air; reru
for information- as te hew,. the matter
stands from bis point of view,' " r
PUPILS INJURED IN BLAST.
One May Less Sight Frem Explosion
In Detroit SofTeol Laboratory
Detroit, Mich..' March 28. One pupil
was seriously injured and twelve -ethers
were temporarily blinded by an explo
sion 'In the chemical laboratory, of
Northern. High. Scheel yesterday. Hun
dreds of pupils dashed from their
classrooms at the report. Teachers and
grade principals managed; te quiet them
before a stampede occurred.
Joel -Griffin, sixteen years old. , was
taken te Receiving Hospital with his
left hand burned almost off and his face
and right, hand seared and lacerated.
Hospital authorities fear he. will lese
hli sight. '
With .twelve ether chemistry pupils'
Griffin had just, nnisnea a ciass mat
had been experimenting n the manufac
ture of parlor matches. On the table
ntnnd n vessel nf nhosnherus. Griffin
attempted te stir the phosphorus with a
stick when the explosion loiieweu.
TRAINED WORKERS SOUGHT
; 4
State Employment Bureaus Repert,
Increase,. In Demand for "Men
Harriiburg, March 28. Employment
bureau officials have noted a marked
increase in demand for trained work
men in the last, ten days, according td
a summary of reports Issued yesterday
by the Commissioner of Laber nnd In
dustry. Mere than 500 requests were
made beyond the figure reported in the
third week of Feburary. Of 1353 per
sons sent te places by the State bureau
last week 1103 obtained positions. Many
of them were trained in the Building
trades.
m
mmm
. !' ,L..
Fun.ral Expanses.
Iferris Radiiia Yaxabla Vak
, ;tqfl.1,l67,136
MUCH STANDARD OIL STC
New' Vetk, March 28.-Apnrsl
! William" t. m.j.. "Pnrais.
.... .......... ... prunes estate'
filed yesterday th H.t.rr.i
ment with the Surrogate, glvlaJl
rrnk amm'int j.- 1.1-l .. " "ad
levy Its inheritance assewmeMl
$51,157,186. Next lo-Jehn iT?J
feller', Mr. Harkness was ens 1
largest holders .of Standard fiiiJIa
ties, iiis investments Inl that nr
and ita numerous nhii..i.. rr
Ing te mere than $40,000,000. Thsi
.The, Harkneis estate was .&
x?.urJ,A.btwn he "Mew, Edith J
.istsmss, wne receives ene-htl.
a son' ana daughter, Louisa mi
and William3 rfale HaVCss. "ti
estate is set down n sru 10.1 (?!
which -Is -deducted $2,007,8207
as follews: Funeral expenses. SlRe'
administration ..',.,...,' 2A2?
debts owed by. Mr. darkness, $ll
400, and commissions paid for Jdi
istrntlen, $1,070,505. The Inherit
tax is yet te be adjusted. Mr it
ncss 'dledv May 10, 1010, and 'th?
nraisal Is made an nf Mint .tni. '
Nearly .all of the estate consul
stocks and ether securities, several ai
liens ecing invested In industrial.
read and public corporation ccrtlfleii
Mr. Harkness did net invest raucn
real estate, only two nnroeia ki.I",
eluded, in the schedules of his preDenl
One Is the town house nt 12 Kast Klf'fl
th,lrd street, n five-story brick and (tad
dwelling valued at $225,000, nnd 9
Ail.HH 111 HiaA. u..fI V 1 laaaai
viiiki.- .no ueumrj residence ut 0
Cove. L. I., known ns DeMnrin u.
and stene mansion with Inrgc creusal
.U.UU HI WUfUUVi M
':
. --?5-.-.-" ... : : : ,
w.:vi.'.t:.ii I
Kast Iluffrtln. N.
Receipt! ISO head.
receipt. 400 neaa.
moo a n
A neadlng Ce 4s. Va Ply Ce 8 for a long time past.
, J J4. L:.'IvIn ' One of the best indl
4.R.n'"i. 54bV ' ,?-5"''vcinent of mlscellni
4.Re I f. H B .. J, ,, . ., ,.,.,,
indications of n freer
miscellaneous commodities
3.... 03. V L'nlen 64s """ general iiierciiiinuiM: te ruuuruvu 111
nie Grand A 1 ., 1074 the railroad traffic and tins must event-
w clt 4 11.. 1074 ually be rcnected in n mere liberal cx
1 3U Weningh' 1: 1 change of funds both en the nnrt of
ircli 28. CATTLE
Mmv. steady. Calves.
Hlnu- ateAdv. tSGlll.BO.
.Rernlnts. S'.'OA head! 10- te ISO
lower. Heavy, tl0.3010.75i mixed. 10.O0
Oil; yorkers, light yerser mm pig, xiiw
11.10; roughs. t.508.75; stags, $498.30.
HllbKP AND 13108 Receipts. 1400
head. Sheep acthe; lambs slew. Price un
changed. Kast St. IauIs, March 28. CATTLE Re
ceipts. 30(10 head. Reef steers steady te
ttlrnnir. Hulk. In.75fi7.73! light yearling
opened stendy:. later market weak. Tep.'
$8; beef cons' steady; bulk, S4.73W3.73;
bulls, ennners and stackers steady; veal
i caltes, 25c te sue nigner; uuik areunu vs.eu;
top. 10.
11008 Receipts, 11.000 head. At-tlve,
fully steady. One lead 200-pound average,
11(1.30; bulk. 100 le 240 peunders, 10.33l!j)
10.43;' packer sews sternly te weak; mostly
SH.50; light pigs. 23c lower; ethers about
steadv. 111.23911).
SHEEP Rece'pts, 1500 head. Knlrly ac
tive, strong te 23c higher. Three deck of
geed te chelcn Colerado lambs, $10.10 te
shippers nnd city butcher; clipped lambs,
$15.50; medium natives, $14. B0; sheep
steady.
Prices Heavy en Paris Bourse
Pari. March 28. Price were hevy en
the Rourse today. Threa rr cent rentes. 30
francs 80 centimes; exchange en Londen, 48
francs 71 centimes; B per cent lean, 78 francs
113 centimes. The dellsr was quoted at 11
francs 10 centimes,
1 niMT .111 l.rr.n ID .met
Read the dally talks by thinking Phlla
I rielphlans en subjects they Itnew best. This
feature appears reguiariy en me coneriai
Page of the Evr.MNO Public LxDees. "Slake
It a Habit." Adv.
Proposal
Or'FICK OP THE ,
COMMISSIONERS OF FAIRMOl'NT PARK
17 CITY HALL. PII1L.ILI.PA
March J5, 1022.
led proposal will be received t thj
Mflr, until 3:13 P. SL. en Tue.diij. April 4.
ItMJ. 'or th0 'ollewlnB uppII- and works.
fop 'dressing reads with read oils.
Erection "of Public Comfert liulldlng. '
Full particulars as te form and every
requirement of the propeal with the neces
ary speeincatlens nnd bUnks, muy be ob-1
Ulned ut this efflce.
The Commissioners reserve the right te 1
reject any or all bids.
1 Ry order of the Commissioners of Pair Pair
sneunt l'urk
W AWN CORSON. I
Chief Engineer. '
Sperl.il Meeting
K5SPOFFICE (IF THE CO.MMIH.SIO.NLltS ,
a37 OF FAIHMOINT PARK I
1'J7 (Itr II 'II. PhlUdelphlii
STRUET Tltm: NOTICE
A meeting of the Commlttee nu Street
r.u. of the Commissioners of Kalrmmint
Prk will le held nt the nfflre nf the Cem-' an
mistleners. Roem 127 C'ltv Hail Phlrte. 8
phla. en Tuesday. April 11. 1022, nt S1S0 71
o'clock P. SL. te consider the proposed plant- i
Ing of trees en bel'i sldei of Helfleld Aienuei ,,
from Old Yerk Rexd te IJnilley Avenue: '
extension of Hunt ng Pirk Arenun from Old "
Yerk Read te 15th Slreet: 33d Street from 1
Pennsylvania Railroad te Dauphin Street, ' 4
Thfc cost of doing the erk. If determined 1 n
upon, will be charged by law te the owners
eif the property In front of which such work
It done, but thereafter the trees will he
eared for by the Commissioners without
dbarge te the property owners,
THOMAS 3, MARTIN, e-creiary.
K Belium ns 3 07 !
1 .. 1034 B Steel Ss '38. 3 S3
4 1034 2.. .. R0 4 Kram'n Indust
2 1024 2 . . M D'v 74s wl
r.(ale) IOS'41 2 .. SHU 2 . .0!)
K Delg'm 74s 2 . .. M4
I . 108. Heth Steel fls,
Kingdom Den-, 8 00
mark ct 0s llrnden Copper
119
004
!l!l
I'll
HO
fiO
3 054
Reck Il'd A &
Leul'a 4 4
1.
1011
10114
1014
1014
1014
1014
iei;j
1(11 4
t Mfg 7
i " JHUJ engaged in the distribution and sale of
? '"0U ,trfll enn.lu
J.. . 1004
1.. 1004
3 80
St L I Mt A S
Rwy 4 ,W A L E 44
1 844' 3 ... 00
1 84 4wickw' Spne
hi li 1 .Ml M Hteel 7
1 nn 'wii-en & r t.i .chain stores.
producers and shippers as well as these
engaged in '
retiill goods,
Chain Stores Issnea Streng
i
.1.
117 4 ' Mines 1)9 1
'ITU 1 !lfli 1
117 4 iDkn Edl Ce Ss Gen I Elcc Ss
074 1 ..4 .' ... 004
H7 4iB Edt'n Ce 0One'l Elec Us
H74' 1.. . 1014 4 . 10.
U7; 1. . 1014 Ooedear T tt
07. n Edls'n C 7s Rub'r '31
07. 1 103 1.
1174 B Edls'n D 7 4.
Kingdom Den-i 3.... 107 41 1.
mark ct 8s I 2. .. 107 41 1.
2 112 ill Rap T ct 7s I. .
1.... 112 3 754, 10... .
S .. 1114ln Rapid Tran 3
K of Nether- I ct 7s ta IQoedyeer T
lands 0s wl 1 2 724 , Rub'r '41
10
1
31
42
till 4
00 4
HOW
004
fid 4
004
08 4
04 'likyn Vnlen El
04 1st sta I
04 4 ' 1 ... 82 !
11)4 Bush Uld'g 5s
114 4 2 .... 89 .
04 4'Care Cllnchf'dClt N'n Rly isi
04 4! A Ohie B 10.. .. 0
044' 1 h0'v 10 . Mi
04 4 II 83 j 1 sn
2 114
3 .114
10 . 115
I . 115
7 . 113
N T Cent'l 7s
1 inn
7(rale) 100
1 1004 '
j t nam co
64 rets
1 107i
1.. . 107.
St L 1 Sit A 9
R A Q dlv 4sl
in 7041
8 784
10 70
St L & H K ftj
1 784
10.
11 Uh
1I8.2.S
08.20
08.10
Liberty 3 ..
Liberty lht 4s..
Liberty 2d 4s. .
Liberty 1st 44s. 08.40
Liberty 'M 4'4s.. iin.;il'
IJiberty 3d 44.. 00.4(1
.luvrty tin fis., iin,i-
Amenc the few stocks successfully te
buck the strong reactionary currents in
yesterday's market were the se-called
Slay Deparuncni mores
054 mode a new high for the yenr and
004 Kresge sold nt 11 new high since the
no 'stock dividend came off. May Depart
064 ' iniint Stnri-K 1 new linvlne 8 nor cent
704 Wilsen C 74s , nimiinllv In illviilpiulH nml tlipre uns
T(saie) 07"! disappointment in some qunrtcrN beeause
1 .n7'i the rate was net raised te 10 per cent at
7(sie) 074 the Inst meeting of the benrd.
2 (flat) 074 The next meeting of the directors is
scheduled for early in slay and dome
of the recent buying has been en ex
pectation of an Increase in the dividend
rate at that time. Current earnings are
understood te be running at a rate of
better than $20 a share for the common
nftcr the preferred dividends and taxes.
THK TRADKIt.
McCLEES GALLERIES
1B07 WALNUT STREET
Paintings and Etchings
By W. LEE HANKEY
Choice Wedding (lift
Mmellnt Proof, Painting Restored
FRAMING. A HPKCIALTV
Vs.-' "
p. i ;'.' .'sV'.V
.t.r a
.j"ta a
mmm
yi:v;
aJ,Vll,i
.Vvt.V-.'.t
'j.. .. ?.'"-.
fv;
,-.'.M,?-i,v.y;M
JMjA'am'..'
v.i:t:v.
Mttmtf,
It's none of our business
why you wish te dispose of
YOUR USED CAR
If you've had a windfall"' and can new.
afford a better one, we extend our con-
gratulatiens. ' s
I 4
C veu ave met W4t reverses and "neqd
the coin," you have our sympathy.
,fklf you're a dealer looking for "a turn"
go te it. '
tIn any case, we can aid you and, at the
same time, help the ether fellow get a gen
ujne bargain if that's what you have te
offer.
The quarter-million daily circulation of
the Public Ledger gives you innumerable
thousands of "prospects."
C Phene your ad te our Classified Advertis-
r .. Is. NTrY7 n:ll ...Ml l mi
ing Lcpartnicni. iiu w . out will DC maitea
later, v
Bell Walnut 3000
Keystone Main 1601
mm
mm
!SnW
.C'Sl
jv?"...vr.
.........-...a
&
mm
'"X-5tl
s,';!1
jSVeaVi
mm
mm
:&Fm
4vv. i i a.v; wvi
fc:j:::i:i::i,vv.3::y;n::tetf3:7y;&
784
78,
istw
0S.12
0S.2II
08.1(1
08.30
0S.20
00,38
0S.4:
1:30
P. SI.
08,10
08.20
08.111
08.30
08.24
00.44
08.50
rJjTsjaeGERSca1
1 DStXfL BIDS. rrniACElPHIA.
1
il., un,
Vlefy Notes 48.100.80 10Q.80 100.82 I AnVANCF IN STEEL PENDING
014 1 804'Oreat Nertll'n
04 2 8(14, Rly 54
1 ... Hli l(ssle) S0' 2 , 004
4 .... 044 Ctl I) Tele .111 1 (flat) (lfl,
0 ... 044 1... . 08 I 1 flfl4
Kaale) 04 Cen'l of Oa en n n4
1 044 5 004 2 . .. 004
10 .... 044 1 . DO 4, 23... . 904
I .... 0441 1 004 Ort N Rly 7
10
044 Ct'l of Oa Oil 20
1074
BALDWIN LOCOMOTIVES
ARE CONSTANTLY BEING IMPROVED
Changes and improvements most of thorn net apparent te the
casual observer arc constantly being niade in locomotive design
and construction. In order te increase its economy and efficiency,
the locemotlvo of today is equipped with a variety of auxiliary
apparatus hardly thought of twenty-five years age,
THE BALDWIN LOCOMOTIVE WORKS
PlrJbt4j4Ur.
LONDON STOCK MARKET
Trade In Specialties Brisk Gilt
Edged 8ectlen Spotty
Londen, March iiS. HecurltlcH en
the Stock Exchange generally showed
stability teduy, with the feeling con
fident. Trading In specialties was
brisk. Seme Industrial Issues were
strong, following mere optimistic views
with resnrd te the home labor situa
tion. Hudsen's liny was 0. The
rubber group was Inactive and fenture.
less. Oil shares weie irregular, with
operations professional, lleyal Dutch
was 3.". Hhcll TraiiHpert nnd Trad
Ing 4 11-10, nnd Mexican Rngle 304,
The silt-edged department was strong
in spots, influenced by 11 favorable mon
etary outlook. French leans wen- nulct
hut hard en the settlement of tliu Near
Eastern question.
Sentiment In home rails was cheerful,
with dealings lively. Dellar descrip
tions were steady, in sympathy with
New Yerk exchange. Hesitation was
noted In Argentine rolls, with changes
narrow. Light support was given kaf
firs. AR SILVER
Bar l!,vr was Hd higher In Londen ted
at BSSd.' . L
Heavy Buying Movement Believed
te Forecast Higher Price Level
New Yerk, March 28. Leading steel
authorities admit that nil indications
point te n general advance In steel I
prices in the near future, probably
within a week or se. liile they i.tnte
no attempt te rush up quotations is te
be mode, thsy believe the present large
buying movement Is due te the fact
that' consumers In 11 number of products
have been notified of a peiidlns ad
vance In prices.
This is true of the United States
Steel Corporation as well ns of the In
dependent companies. The latter were
the first te make the move toward high
er levels severnl weeks age for bars,
shapes nnd plates, and their action was
followed last week by the Carnegie Steel
Company, the subsidiary of thu Steel
('rirnoratlen. '
On the ether hand, the Carnegie j
Company was tlie tirst te announce an
advance In sheet bars, when lt informed
Its customers early last week that (lie
price of this product for the second
quarter delivery would be $31 a ten, 1111
advance of $1 per ten ever the old
price. Independent makers within a
few days also nnneunccd a $31 quota
tion, which i $2 a ten ever the level
quoted by some of tbsst companies re
ceijtly. .',vt
Spear's
New Cooking Range,
Combination
Ceal and Gas.
Saves
Ceal and Laber
Hakes, roast and broils perfectly
makes an abundance of het .water.
Provides a comfortable kitchen sum
mer and winter.
HI'EAR'H llet-Wr.trr Steve and
Laundry Ktetts at a small cost.
Oas Ranges) all style and Bites,
with every convenience, at reasonable
prices.
UPKAR'S New Wiirm-AIr Distri
butor the Ideal heater for the home.
Bring us our kitchen and
(letting problems experienced en
gineers will htlp you solve them.
Seii.1 for boeMelt. fletlrr )!, tem,
' anil tee e demonstration,
James Spear Steve &
Heating Ce.
1823 Market Street
Rcll Hprur 1470
Ketitena lc 1619
Eta, la flUts. i i'MSa!l
WANT-AD
Fer the Public Ledger
RATES
" Help and Situations Wanted Reems and Bearding
On or 2 time In the morning anil evening edition of ths Fublle Ledger, 35c per line
each Insertion.
Three or mere time, within 7 day, 25c per line each Insertion,
Example A 2-line ad 1 morning AND 1 evening edition, 70c.
Three morning AND 3 evening editions, $1.50.
Other Classifications
One or 2 times In the morning und evening edition et the Fublle Ledger, 10c per
line each Inserllen.
Three time, within 7 ilajs, 30c per line each Insertion. . '
heten time consecutively, 2Se per line each Insertion,
Example A 2-line ad 1 morning AND 1 evening edition, 80c.
Three morning AND 3 evening editions, $1.80.
Seven morning AND 6 evening editions, $3.50.
Count fl word te each line.
Name ; . ,v. Classification
Street
.Number of times.
City
WRITE AD BELOW AND SEND TO THE PUBLIC -LEDGER
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