w HWSPS xisram V'V ..'I' mi ratia 'Jr r-iftrr ivgiy reftiT fieMs reit.Efl IN 11000 BWI... .. Til 2.... 10 K t2y"'rMS m U'lf. I;.'. ill flan fftis"" X2 U K art Urlt & I'd 1837 b 09 K Pic )ttu) " 1 v r """. .?.'. ' ii.i. ,i: ,,, 1.... iu fiir au re LB ti'i.'i.. " r i ? ,1 con i ..... 80'i -'City e' cpen- : i "i"-4 if ::::: eTs it 01 r&r wM ft. 18.. e... i... l... s... f .. 1,, l' .. 88 K tK 80 H 86 H 86 S saw Ili Citr liars' tl MS, 80S J 1... 1... t,. I... 4... 1. 100 100 100 100 lflO 104 104 U 8 Orailt 8i S.... 10.1 ,.... 103U 10... t 10S I,... IDS s.... ion i,i V B MextcJ 4. 8 4DW B 484 U S Mexico Of 1 (IS S m. i r.HM U'd S Mexico Litrjr 6i 8 Bl',4 Am'n Atr'c ft Uhem 7Hn 1.... 101 U Aran 8, A II Bit 1 80 'I 4 8n4 B... . Mil, .".(sale) 81) U American 8u Here 6a 8C4 86 80 .' ? jCtr w J Itria 1,,,, I'J.n .... 102H 8.... 101IN tiny tern I'ruiie OH I I.... 103 H M 8.A. '10JM4 II,... 103 5 I03'i t 01 Zurich 8s ,7.... li? Ptnmirk Cen ' l E 8 15.... US Jkftt Seine "a si:::: I?:::: s B.. 8.. 1.. B.. 4.. 03 03 03 nsu 03 03 us;; 03 03 Canada '2(1 8 OH'i 9 Canada 'ill) J.. . 100 , 2.. . 100 14 OP?, fl(rale) OOTa .44.... 100 Batch K I n J' 1 , li ret. 2 04H 1 1 04'4 5 3 Oltt ' t 04, . 8 01',, Butch H Ind's Osirt 1 op; Iiii'i French II 'M rcti I.. . I01"4 1.. . 102 .. . 102 1. .. 1021, Utile) 102 1 1. 4. 1. IS. 1.. i 1.. Peva't 1... 4... 4.. I... 8... 102 !02'i 102!, 102 1024. 102 102-S FHtl 107 107 107 107U 107 Hr'd Trunk of Can 6a rets 1.. . 101 1.... 101; l.... 1014 1.. . 101 t ftP (iOVO't 1st . ... bO 1 M;4 1 00 3 80i , Otsale) 60 JlpOen't 4s 2 74', 1 OK 8... . OP, E Belvlum Ga 10.... 10.1 2.. . 102'i 1.. . 10H, K HClum ,'js 1. 4.. 10.. 0.. 6.. OSS 08 (4 nsu 08 'j 08 H 0814 Am T A T clt 1 fc'4 A 1 & Tel 3 2 00 14 1 enu a eav, A Tel L Tel On .'.... 114 .... 114!i 7wle) 114i Am'n W 1 On 1 N2 Armour 4 'in. 1 fcS 87', 87 li 88 88 8H A T & H l.'e 4a -' 87T, ? MM Atch T A S V 7(ale) 1 1 '00 cv 4 1 77 Atl Const 1, 1 4.... K7l AW LORBt I. 7s 10.... 1111 1.... 100 iVtl'e l'rult 7 1 13 A Powder 7j f.... 103 4.. . 104 Atlantis llef's ct OH 1.... 10IU Unit & Olile cv ' 78", -' . 78 78 H 78 ;, 1 8 I 78Ti! T8'i 7n I 7S 2 . 78 'i I 72. . 70 1 2 .... tU Halt fll.ln -.. 4.. 3.. 0.'. 8 . 1.. . 101 Chlla Cep'r 04 4 80 1 81I Chile Cep'r 7 n..., 101H 10.... ion. Cln'tl Uns S 3 0414 Cl!d Cln Chi Ht li 4H 1 80 era rit nhi Ht LOUlf til 3 00 ii no Cens' d Out 7i 6.. 1... 10... 10... Cuban 1. 4.. 100 108i 10O 101) c a cv . 821J 83 i . 81 Cuban C'e Sut bn "la 3 '8l'i 1 S4t. Cuba It ( in 1 S2 Uen tltafil 10 40 10 4(1 Den (DO Si 0 DO Di-t iZH B '40 1 03 Det Kdl Ce 6s 3.... 102 1.... 102'i 4.... 102U Det Tun'l 4 Us 83 3 S3 '.4 Det U It 414s 2 Tint D .Matcli 7V4? 2(0at) 1UHi D dn Nemours l'wdr 7Hs I.... 101 I)uq I.liht (1, 1.... 101 H Tenn Vn & Ooergla c 1 ' Od Hrle Qenl Ll.m 3 41 1 13 3 43 ' 4 .. . 43 2 43V1 Erie n It cv A 0 3014 1 3! . 1 Hilc It It cv II 12 30 i 3 30 Crle It 11 cv D 1 I'Jij Erle Illy Ce .n 10 11114. Erle Illy Ce 7i 1.... 11)1 risk llub'r Ce 81 rets 3 104 7(pnle) 104 3(Bat) 10 1 U 1.... 101 l'ram'11 lmln: lev 7 lis l ... . Ml Cl'iudear "f St llub'r '31 1 M IC A T 0s wl j" 0 10 114 1 OIU B 0414 Me Pae lilt 4. 1 034 "7 02H 1 03H 2 62(4 ft naat Ment'a I'wr Bs ' 2 03 Ntl Knaml'e A Sf ct 6s Z 1)4 ; New Orleans A .N K'n 4i4 1 70H New Or Tex A Mexico Bs 14 )9'4 2 0S4 N T Cent' I 4s N Y Cl'l en 4 C. B.. 1.. N Y 1.. N Y 3. n. 1. N Y 1. 1. -1 ... 80 ... SOU ... 80i Oft 4 lis ... 80U Cent'l 01 . . 101 ',4 .. 101 V .. lOlfi .. 101 Cent'l 7e .. 100 i .. 100U .. 10014 l(aaln) 100 4.... 10014 N Y Chi A St Leuis 4s 1 87 I 87 N Y L'dl'n Ce 04s rctn 4.. . 107!4 4 ... 107T 1 . 107 N Ik I.lKht II & Pwr 4s 2 .... 81 ' "' 81 2 sa New Y N It A II 4s 'SO 4 48 40 New Y N II A Ilnrt'd Os 0 .. . 0 r.... iie't New Yerk O A Vpt'n 4i 13 70 N Yk Itlys I, 3.. .. 311 1 .3. .. a7"i N VI. niys 3s 20... . 8H" I". ... 8!4 N Yerk Stats Iils 44s 2. ... P, 3 COi; N" Y Tele 41,s . . . 02 Tcle'n '41 . . 102 B. ... , C(sale) 1..... C OT',4 07H 08 07 '.4 07 W 071, K Sa 8814 881.3 pe a a 2 8..,.. Pan A Petr'm A T Ce 7s I..'... 07 3.i... 11714 Pa ltd am 414 11 88 3 8814 1 8814 Pentia H It ft, 1 00V. 1 00 33 ne'i 13 07 Penna ltd 014 2.... I0OV4 3.... 10014 , 0.... 10014 Penna It It 7s 1.... 107 1.... 107'i Pre A llenners war 8s 2.... 101H 8.... 101 HlU 8erv Cern N Jsy 61 3... . S,1 10 83 1 83 Reading Ce 4s 2 M KM O A XV 4s 1 70 Reck U'd A A I.eul'a' 4Hs 2... . 80 1 80 2 SO Heme Waier'n A fir. In . a lin. 1 St I 10814 103 H 10814 10314 103 103; 0.. C 0.. 10., 38.. 1.. Se'n raelflc fd 1 804 0 80 Se'n Pacific 4s 1 81'i S'n Pac cv 4s 1 0014 1 neli Sn Hallway 4s 1 03ii 1 0814 1 63U B (Hut) 03 1 (1.1 H 1 6311 12 03 Sn Hallway 3s 4 ei; 2 01 1 ill Sn Rall'y 014s 2 0014 10 00 1 110 6(aale) 0014 1 Mat) 00H 2 (flat) 00 1 It 2 4 B 10 B 10 O i5! .'!'.! 1. 0014 00'., 00 00 ii 00 001, oe y, 0014 00i 00 B. 1 3... . 10 Bland'd Oil et Calif 6 1.... 103 1.... 103 Steel Tube C'u 00' of Am' a 7n A 3 K tO I 1 0711 78 7814 m'T n y 1. 1 01", 00 00 Din. - . nii I... 00 2 10 4. 1 . . Ill, l!(x.:el I Ml. hV" r.ceaHr T & 1 S' r ! r. 82 1 (flal) 81 -i 1 Sl'.i Halt A Ohie fit iKsalv) 3 . . . . I. B.. 4 . 1.. I.. 1 , 7. . I. . 10 10 102T4 102 102T4 102 102T4 102', 102 V, 101'T. N IK V e Ai Jiem 4 "4js 7... . 07 1 07 78H Term'l ft It 78 I St Leuis 4s 2 7S J,,,,, 7014 S L A 3 T In'Term'l It Tt A 2 02 St I. 41411 . . 02t4! 2 02i.j 0 021'lhlrd Ae nj 1 0214 1 33 B 02 1 ,-,2i 8 02'4 10 . . .-.r ,? 62'4, 7. ... 32 02 I HI 33 10 02!, Third Me U 6t I. A H rrnni ini. series A Tldev.-ater Oil 1 704' Ce ct 014s 10... . 70! 1.... 102 2 70'.' 1 ni'J.v St 1. A fl l'ran .Teledo St L A aeries u Wst'n in 3.. 1 .... . Kunle) S3 84 5 -85 S... Mi, " ' ." Trin Serlci c 1 0S'4 Si 1. nuv it 4.. (,!e) 10... . 0... . 0... . O(sale) 08 07 07 OS 08 esi; 08 2 118 unit a unie s .', "a 11 aijH i-4 - MI't.O'rt D A I) Tel 4h' 2 1 .... 111! 1 1 2 00, 1 B Teleohene 1 of Pa 7 1 1 3 11;. Oraiiby C MIV S A V Hs 1 01 C Ill Gt N'n Illy int 7 HI OriHt Nertn'n Kly Ci'js II 3. 3. M. . 10. Id. NI11 !' 13 . 43 . 43 . II .. -(3 431.4 .. 4311 I'wr (Is . 101 . 101 . 101 101 4. 1.1. 10. 10., IS St I. T ! 3 Sw 74 71 7.1 7.T4 71 74 '".J" 77 70 3 00 Union Pac rv 2 .... (13 1 , 1 03 3.. .. U3 V Tank C 7s 2.... 103 B.... 10314 1.... 10.11, 3.... 103 Unt'd Drue 8s B ... lOOH 17 S Tfalty fc Inu'Vt 3s 2... . 113 I. . . 113 3. . I'l"; V K llubb'r Bs GOSSIP OF THE STREET Cemmcnflnir en the rcvlvfd nctWa trading In the roll division jeaterdny; a fiowntewn broker Bald "that probably never lias there eiisted In the nnnals et the market for securities euch nn Ideal situation for profitable specula tion en the lenj side of the railroad stocks. Conditions In 1800, after the election of Mr. McKlnler, were meft favorable, but In these days there was a period of uncertainty ahead owing te the fight ever the geld, standard net having been eliminated, nor was the wealth of America at all r.omparnble with that of tle present day. "Many great transportation ystem at that tlme were emerging from finan cial chaos and receivership's, but these number among them our most substan tial lnsue.1 of today. Therefore, one nheuld center attention en the shares of the companion whose situation,, past, present and future, will approilmate that of Atchison, for Instance, In the period mentioned. There Is a wide- se lection In this category. Any one of them will prove profitable. Strengthened the Market Tosltlen The fcpeculattvc situation hed ap parently passed entirely out of bearish influence (luring the course of jester dny'H trading, and last night no one frcemed te ntlach nny importance tt the factors that had been brought for ward nN a bnhis for aggressive drives made en the market en Saturday and Monday. There were few who seemed te believe, that weakness preyntled en these two days when selling was in progress, but these fully Informed about the character of the trading" were posi tive in the statements that the bulk n( tlii nffprlnL's en these two days was or short account and thnt the result ing declines .ncreaed the underlying fctrength which hnd been the rhtef fac tor of the market ever since the bu ginning of hint September. Heference was again made in well informed circles te peel activities and te concentration of Important Interests concerned In market operations in many industrials, but a new fenture was pre-f-ented in the attention devoted te u number of railroad stock". Iteyal Dutch Movement Ti impactiens In Iteyal Dutch recently have been of an interesting character, that stock being in supply at fillVj and On'., but In demand when the price approached 52. with the tradlns gen erallv of a character te Indicate acru acru mnliHlen lit- strene Interests. Tt was durln recent weeka, mny 'ntrcla hare been let. In fact, aetuM con 1 structlen 1b under way , In njimereua Instances. About etic-half of the per mits Issued are for dwellings and re pairs and alterations, and there Is no doubt that the home building move ..i ...in i. i..i.ir Ttiiiiiiimr mate rial manufacturers, who Inst month' r- t.nff1 nn lnAtnej!tl V 'tllllliner OX MQU1 ries, have received falrblzed orders, and the demand Is steadily Improving, Stocks are net large for this time of the yenr, but manufacturers are able te All all orders." ' . . THE TRADER. Financial Briefs The Bank of England's minimum discount rate "remains unchanged at Hi per cent. The average price of the .twenty ac tive Industrial stock advanced 0.70 per cent yesterday te 87.00. while the twenty railroads advanced 1.01 per cent te 8J).10. Bolivian Government efficlnls arc re ported te have arranged with a group of New Yerk bankers te sell nn issue of ."524,000,000 7 per cent bends. The public offering of the new bends will probably occur In tt few days. Tht reorganization managers of the Ray Ierculcs Copper Company have declared operative the plan of reor ganization, te take effect April G. De posits of stock will be received up te that date. The Deme Mines Company, Ltd., reports for the eleven months ended February 28, operating earnings before (lenrri'lntliin unci ilenletlen nf $1.01(1, 10:t, total inceme $1.144.kS, jireflta after reserve ter dominion 01 1 annua taxes, depreciation, etc., $u24,JlM. The pamphlet report of the ( 'aliter- of nln Hailwav and Power Company for 1021 shows total income of $4848 (ntnl rxiienseK mill ether charKCS el $11,483, net less of $0037 and prellt and low deficit at the beginning of 1021 of $07,001. As of December 31, 1021. the profit nnd less surplus was ?un,uau. , . , , Magma Copper Company stocUnelii- ...... , .. .....wttnl mi..illnii ntif hnrlznn VI9 Ul. .. OJH.-I..I 11. fc. i.tt. ..--"-- directors te issue convertible bends net te exceeil S l.OOO.OOO. Resolution was also adopted te increase capital stock from $1,500,000. consisting efjWO.000 shores, par value S5, te $1,750,000, consisting of 350,000 shnres; par value $5, te provide for conversion, Western Union Telegraph Company has issued its annual report for the year ended December 31, showing bal nnce of 0,033,803 after charges, de preciation and taxes, equivalent te .$0.05 11 share earned en the $00,780, 727 outstanding capital stock. This cempnres with balance of $12,785,722, or $12.81 a share In the previous year. Arrangements have been completed for a British lean te Czccho-Slevakia of f 10,000,000. Bends will be offered at 05, will bear an 8 per cent coupon and will be redeemable at end of 1 twenty-live jears. It Is expected thnt 1. 1. 11. l t; s 1.. 1.. 2.1.. N 0.. 3. . 3.. 1.. 1.. 4.. ni 3. a. 1.. B.. 3. 4. 108 109'j llsla 108 10S 10S 108 1 108 10 10 10 107 107 107 Beth .steel fd 1... . 03 Ceth Hteel lis 1 03 D Udls'n I) 7s 4.... 1U7'i B Hap T ct 7a 10.. . 731, 20 70 10.. .. 73 !i 10 70 1 70 1.. H11I s.. !lfl. . !i'l HO 1 j . 0III-, . iiiiii, Illy 7i , 107 - 107 , I 10714 . 107JV, I , 107', 117' . 107". .Man fd ,. M) I St I. .Sew'n 3 1.. . 701, '- . 711 1. ... 70 5.. . SO St Paul A U C H I. I 'iH 'CM S Slee e 78141 r. lu'J . 78 1 10'.' ." 78'Utnh P A I. .'. V L a 1 neij 10 3 . 90K fd,Va-C Ohm 11 ... 87 ... 87 S7 j Hub 7VJ9 1 . 103 , Hl.-.li 103 Bs , tlinnirlii ilint these market operations . ,.. "f 1,,,,;, ,,.111 ..inped in Viiv are In connection with the belief that Yerk. This !.- the first credit which Eng- i tin- Dutch Government will seen takc!Iaml )ms vxt(.ic,i te Czceho-slevakln 'action in the dUorlmlnatery taxes' sln,.0 the waP ugain-t oil production and distribution. ..ti,0 American Sme'.lers Securities ' C'emnnny. controlled lij the American Steel t'emnunles Gaining Ground Smelting and Uelining ( uiupnuy re in Its weekly review. l'nlis .?-.i'i'.i'" L'i"". .. ll" iSvl .. . :A ."... . .' r..;.. ,.ium,iii.iiii21. against ..i,.inu,im in i!j-(i - u........ , ---- - -- .. 1. 'I'litiitKrii In the steel industry, nmi" "" Tlie Iren Age nfirms tl prevement the transfer of $3,000,000 ... ...v. . " i.i , from enliirceiiient ami extension nc- thAZlbiArlcet and giving mining properties an f 1 .i?. !.in.r 'Phn m. ie n ctive biiv-! appreciated value approximating $577. $577. ndvnnce prices, inc mere n(iie uu.- flf . .ln.ni, stim,Hm inc that dates from the second week of , 0. prent nnd lu m U'Ius. Htandi g ik an is te aertD-a a I. fd Va-c ohm 1st Mnrch has continued and tie rate 01 v-. -r'""11 j: , -;: ,; -"T" 3 03 10 30 I a..." nn I Z12R verku oneratleu Is still climbing, increased te $.,310,000 en December v ; ;.. "' ltl"'i,"''Vii.cni7'in Anunrcntly both producers nnd censum- ' '"" , , . , ,. , ., 1 ,ir Iflh m. ., 11 ?' . lw ....,.!. i.e n,,i Lln,.e .Inlv or Aimust. . ully upwnrd, but the Increase for the ,. ' ' '. ,vl '" " nr I... . llil", im lf.vfe .v.... r-.-v "'"- - - , 1 . 1. K Italt'-nj iVcu!" RHPUTl.il . .K... ri .fa hLa u, . IM1, .. s... 1071,1 ;" :-'i 7ati.l IA7I1 - l. .... .-..,,Uu6ll ma',.- i ;?..' 1 80 ..... v , -, 1 3.... 1081 1.... lOSH Klnfdem Un inark ct Us 0... . 07H ... 0714 07H 1.. .. 07 .4... . 07H Klnrdem Ueii mark ct 8s S3.... 112 "iAW? J'; .. eni .tV' ;. "' 03 r" "Ber I ... . . u ukn v uas l.-n l.... 03 Cana Nthti Is 2 77 10 77'r, 1.. . 77 Canndl'n Nthn 0'i rctn tsnle) 100 10.... 100'j ? 1 f... , .. . .... ICanadl'n N 71 a 1J0 JS I'OCitlO K 2i 1 . lilt II 03 Sliuinlr C Oil N I'litKlc H 4s I 7h H'tH 2 83-' 3. I. . N3 1(1. 2 . S3',. (I N I'jcillr It fl -HO .. IHfiV 2. (I liill, 1 4 Nth a I'wr B ill 1 80 10. 2 DO 1. HI Or A Calif 3,1 !;, ..-.' '.'. . '" " 0(1 ' 1 Iin,-lv Wll 4'.jS .Or.BOII S I. 4 Itud"&'.Man In I I'ifiiit) OP) t' " 1 vi'-kuii 0 i.inii . . - "e Buar'd Bs I 10. . . 1... . (10 1... . 0!i,Slni-liitr 1). till JI..UI fi.kl. rn.. r II,. ........ 1 .. "".'-"' .' " -' -"' ... vrnimi iu ort-iv n nc 4.. MHi ft N Cu 4s Info Met 4i: ! ,-, - 1? ii , r,:::" ?s 1.1. 111.. ItunlAl -.I. lint M tt i9s .t Tin. '! 2 1 . 711 I 12i3 On,, st..el lui 4 .. II 12i- 1,1 12 Imb'e I T fd (ill 14 1 10 (10 I M Marin Hi Wabash It 1'A 1 07 V.ish Ct! It l 1020. While some small sales of bats, 1 el shunts and plates hnve been inadn et H 1.50c Pittsburgh, fact is business Is still "I being taken ."! tnitisactiens at lower figures were letr eiisn 0814, 1.. .. h 08 3 .. . M, iiat. -un... i'iun vw.,...u.. t.ir. .. . .. 4 08 I 2.... 104 ' -M"-" I- , , os We n Pec ists Steel Corporation expansion in pig pig es'sl 1. ... S7 iron output is even greater than was in in ebvw Pa Pwr nH i dicated last week. Instead of ii blast 08V 3 ie.-.i. I fnrnn.p, rcKumlin: revised schedule calls 1 etner inrep Thomsen nnil s opera L in,-,, 08'., esl !2 .3;.' V I!!,7,J fumates resuming revised schci sul , u,len,?. ! for starting up nine, the etl 8 , wit"inm.J'e r at Wnlrfen. Edgar Ther, 08! a ji r 7s Xw Castle. Steel Corneratioii'i 1 1 1. 4... 1.. 1 100 I ing rate continues this week 70 per cent. 101! Independent companies arc probably av- eighty bunks tepurtlng te the Keserve Bank here was only .2 or 1 per cent. he nine banks in I'lilludelpliiu reperl where u , slight decrea. e In ilepnslts, from until L $207,013,000 en February 1 te $207.- ' S2S,UtM) en Jlurcii i; but tills was mere tliau ceuulerbalanceil by an in crease from $157,525,000 te $15$.. 1 042,000 In the savings deposits of the seventy-one banks outside of that 1 city. Chester, Philadelphia and Tren Tren eon were the only cities showing a de cline in Februurj. 081, C Oil I 4h 3... ll13.Vli A t. 7(tal) 103 i 1 .... 1.. . 103Hi I.. .. ." .. le.lia Wl.k-v a 3. . 103! Htiel 7' ID 10314 1.. 100 1-.. 1011 10014 100 V, 1 ll Is 117 117 Simc 00 eraglng 00 per cent In production, put; ting industry per cent. as a whole at about 05 Charters Filed err Del., March 30. Ch-irteM H....1 10 d.i Wiiveellan Itiidln Cnrpurntlen. jll).- r.(s.u) 10.11, WII11011 O 71. b .. 10.. 1.. 1.. 1.. n.. 11 1031, W til fabricated steel irmngs 101:111111: hoii.deo. Hrmi und inctivn Himiits. et. .".7 000 tens, inking In only projects of, und t muireip bunn ei el a u com- 1 ,, ,.!. n?,.l Vvnnl. iin',pilln I wllh "'"'" T. 1.. I'rutuiu. 31 A. lluiie. C. II hlze past week and week preceding nun lHM, wiiminBten. I)f. Colen i..i,mi i'm--tetal of 40.000 tens), both Indicate ,)uuien pn.ti in sr.iinx. ttt. 42,'ou.f.eo. bookings by bridge and structural shops m.i. nn,H. i.. a. iim. v n. snwer. ,, .Jie nref mil iwe pem Mil roll Wllmlistnn. liel. Nebm .Mi't.i'n Ineurpur at a rate of ever Hi) per Lent, .uiiun u,(, 2f0n.oi)e Minlnv. Vrn '. Arneld. .imiiarM in ixnnrt trade show an imnrnc-. ivsnL i'f.:.. u,, ir .. isi!!,,i,,i,,hi., ,v - 1171. . . . . ... 1 ...... .v. ..i . . .in. .....I v i n.u.. i.!. I'll' - nipill VfllC OeillK Ucr U IT ,,'liv ill iiciki. uuiniii"nwi, . u. uir mi riiuia . jin-iii. ii "i vvr. ... l .... ..rt ,.. .......,.i ...i. A.iuinn i.,iai..duu ti nnd 03 03 03 1- 031, , 03i', 113 03 031'. 03 or. i Liberty 3'j.s. . . . Liberty 1st 4is Liberty 2d 4,.s. Liberty 3d 4Hs. Liberty 4th 44 . Victory X -in.. iltacii IIS.30 0S.00 0S.32 00.51 0S.58 Lew 08.20 08.58 08.20 00.52 08.50 1:30 T. M. 0S.22 08.58 08.28 00.52 08.52 .100.80 100.81 100.84 03' ,1 ... . . US', 0. . 03 3. ... 0.11 Blntdem Nor way ct 8s 1 ... 111 1. 111i Sweden ()s 1.... 1001', in. f. 4. 1. 1. l'arls-t.jeii; us vi 23. v:i l .. s:i Qu-n'i m 1 no . ,.Ctl IMclfic is! J'' I 1 S'O 10 83 81 S4 Cere de Pas'e Cep'r Ss l.... 112L S, in . I llil'I l'l b 3d si 1 SI Imlnclhle Oil '.Vrp'n 8s 1 . . 00' UOal) lnl 1.. .00 0 LOCAL MINING STOCKS TONOPAH STOCKS i uhIi 13ey i : t dim llu!lr en AueNumiiirt 12 i'r .cent 02 .Midway 07 MizpHli Exi.ni.hiti ml Muntami in, Nnrlh filar 112 ItPKflM Eulr. is Tuniipau EMensleii 1.37Vj West Tuiu'iiuii 02 IJIVIUE STOCKS Stsale) 1 1 2 1, le a Ce'nf'l ' r.J ; "S'i1 3. . 73 100 r. . . "-! 11. . 73ij Ilea Hur inei! C cv ''H-s Kim C ft s .V ' Uiiiuah DIMdu . , 1 i - . 831,1 Memn 4h 1 Dlvld Ilueiu.en 100, SS?! -fc, I'll Id Conn ... "ei, el ,; ,;. r. . , -,. .: . iMneen-i .... Allied Dlvlde ake in via.' lelchvr . llelthi-r Et 1..n. " " 111 1 , 1 . 3.. 4. 18.. 10. 2.. lft1 100 100 1001., 100 100 1001; -fJuHiul'd Em "Slt h5. . ies; P Clills X 4 t. 1. 1. fcp O cv riH'Lacit'dD Onu C SSI st I.nnlu r. ' . SS I no 2 SS .like Sliere .M !' ss' S 11 1h '31 '" Ssi; t,. . 112 1 s 1 . . i- Chl A Alten 3, Lehlsh Vul H I . .IS 1 . . . Ml) I )!, I. A .Mci 7 Chi t Ait IHh' 2.. HI 1 .. . i:,.;, I. Id ll km Ih 1 40 3. .. S0 2 . in il. A Nash 3!an Chi lltQ irm s. .. 102 1.. , sei. I.e A Nnsh 7t ' Iloeili . ' 11 ii Q II Ih, "' Uis I'oiiibinnlleii 1 sut 'Market Ht Hlv ' H" kerjaek Y. ". s ?L ... Iy ! Dlamnmmi'l.l - a si ii'js " - M.'leriiCH .. 10U, I. 88 'iie'ilHi'OI Ceiu 1..., IO1II4 "l1"1 'rrlif i,u 'doldileM DciPlepim'ht 10,. 100U1 '.. Ill', .Jeiiiuuiii '"U. , Euft Jlvldu Hiirmtll Iliishrnuck IJhlde IllKh 1M.1 Kim Hueri Hindi) ... Hum imid.i llev mi 4iipi K.ns: . suili rlund . . TJIIH.'lll lilld . '1'i.neuiih I l.ii-i'l eui 1 Vli'lery I'ltldj .. Vuile I'l'.l'ln ... . Xuhn . . .00 .004, .01 01 .lit .12 .02 .02 .0014 .13 ."1 .113 .11.' .01 .01 .00 .oe'a .ill .02 .01 .01 .10 Ask .03 .117 .11 .03 .10 .07 .12 .01 .20 1 30 .0t .01 .HI .02 ,0.1 .01 .Oil .1.1 .03 .03 .01 13 .02 ,01 .03 .03 .1)2 .02 .01 .01 .03 .01 O-' OOLDraiLIJ feTOCKS et Prattleu H It.' ! ' ; .' t I, IUp'i iu, 2. 1, 101 . 1011, 101 IOIVi ,', jdniTiMet Petr'm ss 101 t 103 j 103 ;! 1 of L'ru ' Si 1 or, ., 100 a Toiie It is ids I .. . 07 Mc of it ,j " bu Hi ., II '' CM .Mil ft'i.j", auund 1j t.. .. 71 I 71 Ohlcju-e .Mil t , Kt I' 4 '2-, 7.4i; 101 102 of Sno 1, 1, . 1. (tat uu ct Hi I 101 . 101 !" mii4 10. Ini 1 I lu'd t. 11 B f.Ku.t unt 1 '1 1022 e.. . 1IU.I. I .. le,,;, . 10U. s 731 Ksale) 7.1 Hhh I..I ?it I 102Chlei1Kn Mil X lull Id.. . 1031, .Mln i. .St I, h 1. . 11 I .11 I.. II M .SlJ' i M Sin .Ml. I le It ) .. 87 M SIP A S Kle Murls im 3.... 101 1... 101 , le . una, 2 . 101 II li A T Bj Wl llle'ii Den. 1 Jt'.inbii Cxt union K 11 vu nn , , l.ieu f-Tn r Di'n llr.l IIIIIh . ,siv.- I'li'k . . riiMrher.l . .01 .02 20 .US .01 .02 ,110 .11.' .02 IU 011 111 .risci:i.i.ANi:(ji--.s an- 1, 'hi li 1 1 ' II I " 4hl ... 3,1 3s . 3s 3V, Itivi 3 I & si, 7S', 10.. 1 30. Ill ;e 7. 31 M . 31 31 31 .".H. el ri 31' 31 Tt ( l Aliip.irn ArlseiiK I'nltid Ciiiedeii'a Uih'ti I'mniii. hllvei' . Iluicha Creeius llurek-i Helly . lleelu Mether I .mill . NavniU Hills . . Nt-'iudiL Welidtr .SUl'epfS . . T eiivi.l MllliHB . While Cupn . . . . Wllbcrt . .. .113 03 .02 .03 .02 ..'I .00 .03 .11 .III .21 .02 113 .0.1 ,02 11 .03 .004i .'Te .0.1 03 .01 .i3 .03 .0.1 .01 IS '01 1. 10 10 .0.1 .13 .0.1 li.. .13 .01 ,2s 03 .10 il.', .03 nverace for 1020, which was 413,000 tens per month. A 0000-ten lall in quiry for Japan is pending." February Railroad Earnings Large Se striking was the improvement In railroad net earnings for February that if the returns for all reads average the same rate of gain as shown by the returns for forty systems ivhlch hnve already appeared, the total will repre sent almost the full (1 per cent return en tentatlic property valuation at which the Coinnierce Commission aimed in Its last geiienil rate adjustment. Forty rai'reads report an aggregate net operating Income for Fehruarj of $31,801,100. compared with an operat ing deficit of $4,210,175 for the same reads In February. 1021. At this rate the total net for- all Class I reads for February would approximate $51, 200.000. The February proportion of a 0 per cent return en the $18,000,000,000 tentatlic property valuation, basing the 1 monthly division upon the average dls dls itrihutlen of net operating income for ! tin. iliren Years ended June 30. 1017. would be S50.500.0OO. This estimate Indicates, therefore, that the railroads earned in 'February the equivalent of en annual return 5.71 per (cut en their property valuation. Inc lieiieral mtierttslne business, SI.OOO.- OOO, Alfred W'orsnep, Umtav ulte, Oconee A. MoCermtcU. New Yerk. French Bank Statement Paris. .March 30. The weekly statement ef the Uank of 1'rance shows the following ihanges: Ueld In hand increased 203,000 francs, sliver In hand Inere.vsed 172,000, notes in circulation Increased 240,213,000, treasury deposits decreased '.",870,000. K-n-nral depenlts decreased I OH 7117,000. blllit dis. counted increased 08,705,000, advances de creased 3.1.313.1101). id.iiice, -te the stule remained unchanged at 21,300,000.000. L COAL STRIKE "ft Yeu may he unable te set slack or pr INirrd rent for sour stokers. Specialises "Prnnsylianln" Crushers Prepare. All Kinds or Ceal nnd Coke for All Kind et hlekers. Prompt drill erics. PENNA. CRUSHER CO. Stephen ((Irani Ilulldlnc Phene if It. 271 ler inormelioi I A TA?.0rt "'"It' '' T 120 IChl A 1 . . . . ini,. ' ' 04 A l Vk 104,1; 1. 0... . C A W I fUn 1 71'' 111 II" 3 ,77'. 82 j M K ft T 44 l 82, 1(1 . IIS ' 4i 0 ... I1S 73?, M KcTti wl 73 !i U 82U B.,.., 82, 1, "P I Business Dovelepuiciits t'eiilllilliiR Itevlewlng conditions In the Third Federal Reserve Bank District during) the last month, Richard L. Austin, icserve agent of the. Philadelphia Re serve Bank, said: "At no time since the beginning of the period of readjustment early In 1020 j have developments In the business situ ation in the Third Federal Reserve Dls-1 trlet been se cenlllctlng as during the . lust mouth. Many industries thut nor-1 mall.v should have received a large vel-' iimc'ef orders under the impulse of up- 1 prnnching spring report net only no I Improvement in demand, but. in fact, a decline, On the ether hand, sales in n number of Industries net dependent ' upon scatenal conditions have In creased. The reactions', lien ever, have ..ntiwiclicil the calns. and us a result ne1 general improvement has-eeeiirred dur-1 Inc. .Mnrcil. ,t Wil I'Ulllllli'iuiy CA- peered that the turn of the first quarter of 1022 would find business mere ac tive. But viewed from the standpoint nf nrtuul demand for butli ruw materials "" ." . .. . si.. .,i and finished products nnil it must iiei se viewed, slneu the ultimate aim of all business is te sell clllier K''"'is or serv- I lees the siluillten today is nut little better tliuii mill 01 .lanuiiiy 1. 11 is true, 1 lieiveier, r Jt.'tC tiindaiiii'iiiiii reaitjii-t - Wislilnu-mn, March 30 --lleel.irvs nf il'e .u.iis IlllM' continued. Illlil tllill te the It,,,.'. I1..1111I 'Oeeril lllla inin..i f ( ,cs(" rem . UstlllCIIIs l) lll'SS Ha'!, W," iWmSSXrT! fln m- p.Mltl..... r.Kp.estlen. ' hi, hi r'u i mmiiei'in ii.-id nun iii rijnd ,,i firm foundation for real preg- icit Is ueiiiK lam, mm me unii 111 depurliire for a return te normal con- ' ditlens Is nenrcr. "The most eiieuiir.iglng factor in the, slluatteu at thu prenrnt time Is the prospect of considerable building ac tivity during the coming spring and summer. Fer several months the value of permits Issued has Keen large, and Unlimited Funds Fer First, Second, Third or Building Mortgages tiUICK ACTION ABE KOLSKY & COMPANY. Inc. N. W. Cor. 9th and Walnut Sts. TAX KISTURMi AUDITS SYSTEMS I. Franklin Heward & Ce. Certified Public Accountants l.ii ml Title llhlic., .Munsey lllilg.. I'bll idelphla. Pu. Wu.hlniten. u, (, Reck Island Southern Denied Lean Lawrence . Brown & Ce. CERTIFIED PUBLIC ACCOUNTANTS 1030 HKAL KSTATE TRUST BI.DO. Investigate, and adjuat corporation ae partnership account and prepars incema Tax Returns. ulikli eiiiinli'j n slieit lne In illincils, 1 an mil undo u iiuirk'leui shewluc or III II' 1, slly. Paris feurse Irregular Putin, .M.inh 30, Pilcia iivWiidtiTVi'suiur Iy en the lleursn today. Thri-Yper cent rentes, 30 francs 00 cej times; texchanie en Londen. 48 franca 35 esntlmaai fier rein lone, 7S franca PS csnllmes. The dollar was flumee at 11 irsucs v v,nuiii y ivi: iiavi: I'eu hi;nt Burglar andFireproef Storage Reems in our basement. About tuble feit In ench loom $75 a Year gUfaine Truest IMP Chestnut :ine at Company V" - y" "'r'f-'' " '''-- 1 "-m $5,000,000 Canadian General Electric Company, Limited Twenty-Year Geld Debentures, 6 Series A 'fl Te be dated April 1, 1922 Te mature April 1. 1942 Te be authorized, $10,000,000 fr""1 t0 be lJL,ued' 5 Seri8 V?5'0'00? Interest payable April 1 and October 1. Principal and interest payable at Guaranty Trust Company of New Yerk in United States geld coin of or equal te the present standard of weight and fineness, without deduction for any tax or taxes levied by the Government of the Dominion of Canada or any taxing authority thereof or therein. Cou pon Debentures in denomination of $1,000, registerable as te principal only. Redeemable at the option of the Company, as a whole or In principal amounts of net less than $1,000,000 at any one time, en any interest date en 60 days' notice, at 107', te and including April 1, 1932; at 105 thereafter te and including April 1. 1937. at 104 thereafter te and Including April 1, 1938; at 103 thereafter te and including April 1, 1939; at 102 thereafter te and including April 1, 1940; at 101 thereafter prier te maturity. Guaranty Trust Company of New Yerk, Trustee A letter from Mr. A. E. Dyment, President of the Company, copy of which will be furnished upon request, is summarized as follews: BUSINE8S AND PROPERTY The Canadian General Electric Company, Limited, was incorporated in Canada in 1892 and acquired the exclusive right in perpetuity te manufacture and sell in Canada the products developed by the General Electric Company. The Company, together with Canadian Allis-Chalmers, Limited, all of whose shares it owns (excepting directors' qualifying shares), is the largest manufacturer and distributor in Canada of electrical apparatus. It also manufac tures a varied line of milling and ether machinery under a contract with the Allis-Chalmers Manufac turing Company, of Milwaukee, covering the manur facture and sale of same in Canada. Eight manufacturing plants are owned by the Com pany and Canadian Allis-Chalmers, Limited, and eighteen branch houses are maintained in the prin cipal distributing centers of the Dominion, covering the territory from coast te coast. , PURPOSE OF ISSUE The purpose of this issue is te reimburse the Com pany for capital expenditures heretofore made and te provide additional working capital. PROVISIONS OF ISSUE These Debentures will be direct obligations of the Company, which has no ether funded debt (except $61,250 mortgage obligations en properties pur chased). The Indenture will provide, among ether covenants, that the Company shall net mortgage or pledge or create any charge upon any of its properties unless these Debentures be given a prier lien thereon. EARNINGS The Company's earnings for the ten years ended December 31, 1921, have been as follews: Year Ended Net Balance for Dec. 31 Profits Depreciation Interest. Etc. 1912 $2,011,720 $456,358 $1,555,362- 1913 2,029,898 470,934 1,558,964 1914 914,528 914,528 1915 1,219,514 416,223 803,291 1916 2,225,912 1,040,491 1,185,421 1917 2,051,609 918,012,: 1,133,597 1918 2,013,996 577,513 1,436,483 1919 1,617,989 524,668 1,093,321 1920 2,213,731 530,742 1,682,989 1921 1,707,339 401,831 1,305,508 Including extraordinary depreciation of w4r-tlme facilities.. Earnings available for interest, as shown above, averaged $1,266,946 per annum or ever 3 times the present annual interest charges after giving effect te this issue. Dividends of 7 c or mere per annum have been paid en the Company's common stock for the last 24 years, the present rate being 8. FINANCIAL POSITION As of December 31, 1921, the consolidated balance sheet of the Company and Canadian Allis-Chalmers. Limited (without giving effect te this issue), showed plant and equipment ever $20,000,000, current assets ever $14,000,000; total indebtedness less than $9,000,000, depreciation reserve $5,400,000. An appraisal as of July 31, 1920, by Canadian Appraisal Company. Limited, gave values for plant and equip ment about $8,000,000 in excess of these in this balance sheet. ' ''01 11 KM Wt ' tl Tfl H i ,0 r'J e-t M iK t 101 and interest, te yield, ever 5.90 V.li-n, as and it i isued and received by us, subject te authorization of shareholders nnd te approval el counsel. All legal matters lull be paased upon by Messrs. Stetson, Jennings & Kuuell, of New Yerk, a. d :ei-r Csler. MeaUin & Harcourt, of Torjnte. It is expected that Trust Receipts of Cuaranty Trust Company of New Yerl ivill be ready for delivery en or about April 3i, 1922. Guaranty Company of New Yerk 421 Chestnut Street, Philadelphia We de net guarantee the stutementa and figures contained herein, but they an taken from sources which wt believe te bs reliable. J New ssu $2,500,000 City of Charleston. Seuth Carolina Dated January 1,1922 Direct Obligation 4lA Bends Optional January 1, 1942 Due January 1, 1962 Coupon Bends in Denomination) of $1000. Registerable as te principal only, or as te both principal and interest. Principal and semi-annual interest (January 1st and July 1st) payable at Bankers Trust Company, New Yerk or Charleston, Seuth Carolina, at the option of the holder. Exempt from all Federal Income Taxes and Tax free in Seuth Carolina CHARLESTON, the county seat of Charleston County, is the largest city in the State and had a population according te the 1920 census of 67,957. Charleston is the home of many important industries among which are the Standard Oil Company and the Virginia-Carolina Chemical Company, and by reason of its favorable harbor it is en a parity with the North Atlantic ports. The city is furnished with excellent rail transporta tion facilities by the Southern, Seaboard Air Line and the Atlantic Coast Line Railroads. THESE BONDS, issued te purchase, maintain, improve and operate Pert Utilities, and authorized at an election, are a direct obligation of the City of Charleston and are payable from unlimited ad valerem taxes levied against all taxable property therein. Price 99 and accrued interest Subject te Legal Opinion of Jehn C. Thomsen, Esq., Attorney, New Yerk City Bankers Trust Company New Yerk E. H. Rollins & Sens Philadelphia William R. Compten Ce. New Yerk Stacy & Braun New Yerk The above information while net guaranteed has been obtained from :eurces which we believe te be accurate. MORRIS J. ROOT Urtihed Public Accountant Lafayette Building, Philadelphia Conservative invcttments MicMMkin & ViMlliimssi. BROAD BANHOJJ IITS. E.lU.larkee. RANKERS 321 Cheatnut St., Philadelphia Eftabhshcd 1837 ;tlBbra N,w Yerk and Philadelphia Stack CssHaaga It V -r H Vi i'l V 'J i ffll &'SJ 31 - I Safe Bemb for Invertm ' i ' I l-Iifcf C..i. "'' 3?!7ftVa ' I atay a kJlU4U t HTVH 1 m. LIMMSBBBBBJ I (XKjO.Inc. .-'! j i4Tw.aM.. T.ii ii f 7te 'vrJKH ' a " i i sa.jatMaaaal ttfuaH i --- : . :"' f frf?iiaaB Iu. Tin t4k. "i,"-.'',:.jM Mitabtra rkite. ate' fsisaarH 'aB STOCK SALESMAN Hri'iirllj tilitidti wntw lUhrt tlnaecitii rerpurntluii, fHxi rwriilnic r-ceru. uatt imm fii.arnui rratuur,) tllll IO.nnryllAII nai.l sruasl 1an, la ll,, l.l,,l H.....I . at ..i mniiTtti lurrin f utui'Tiimu iu(i iu unr MHO eaii fureUU bft rtttrtntt a te uhllity iiihi nviri t nn. i.kii(.i;i; tiiTici: C. &. FA'l 1UIN & CU. II C'llaCNIMIT 1 BANKERS MiiVTiTi:Jae!s x 1 ,-. & mk fA-' L ,- finM) t it giw, v. ,- irv- ist$M8$$fa M '..; iVJi M a, vm -t. ,-)v JMiw iiVW &w - !tm fT'-Vl'lliilMMalaai
Significant historical Pennsylvania newspapers