PPlf yvi -J imfm 3 ws. rm Ai Wm At ri r y.v Hflfc jT 1 iw'i; '. ft. v vir 'imm tr . vt viir EVENING PUBLIC LEDGER PHILADELPHIA," TUESDAY, .APRIL 4 1922 m MM GAINS vVmtnts Miked and Irreeu i,V ft m . rMfgk 'larLlttl Change in wniitr jvzr. '- i n a . mmm HP 51 Oil Greup Yerk, April 4. Market move- (Mtnta en the Curb were mixed mid Irregular,' the majority of Imuc Rcncr ally being In supply and offered at Con cession. There vcre few storks, In fact,, that made enough gain te deserve 'ewnment, and when upturns occurred ln tome Issues the jrnlns were quickly reduced or lest. There was another jjrtruggle In Bosten nnd Mentana Cor poration between two factors, as a re ujt of which that stock broke from 1)0 cents te 78 cents a nhare. Iteccntly it had been ruling above $;! n share. Petroleum stocks, bh a croup, moved xvtliln a narrow rangci and showed lit tle, change from their pluvieus tiadine position, glmms Petroleum, after a rtjiw of strength in the tiai-t fsw days, was in supply and yielded from 11 te) 11, and Maiaenlbe sold down from 24 te IWi. Klrby l'etrelcu.u was also In supply, yleldinc from 1M1J te 22. There was n moderate amount of business In International Petroleum tll"?i and 15sii. Standard Oil of In diana jieldcd from SS'i te S7 and Standard Oil of Kentucky s-old at TS'j 10.41. There were wider movements in some f the industrial Issues, but the same tendency prevailed and these Issued also yielded after moderate gains. INDUSTRIALS Illsh I.ew 0O Acm Ceal - . . l' 1V ItOOAcms Peeklne . . SS r.O 30 Am Luther .... ll'Vi 12V, 105 Am Light H4H ll JOO-Cent Stl 6 Clec. . 11 11 700Chice NMppIe ... 1 ' li 100 C1acland Aute ..30 30 200 Cenfl Moter S 10 Dupent 74 II 400 Dur Met of InJ .. UVl l-TJi i'OO Durum Meters ...tit III 00 Elee Ster Hat . .. 40i 10 I1S00 FrentftMO Met ... It 10'i SSOO Gardner Met lSS IS1 200 ain Allien Ceal .. 44Vj 441 nn nintt sr ns . .ann me 1400aoedear Tire ... 11H 10 400 Qoedyear Tire pf.. 34 33 000 Oeldwjn Tlrturn.. T 0 1O0 Hall Slrnal 4i 4's KOOHexlen Chcm .... a 04 100 HuiJann 'Ce pf . . 13H IT S00 Hud tx Manhat ... H'i HS O0 Tntnr nubbrr S "t 900 Jullua Kaynrr ... 24 S4 line Ubby MeNell 4i 45 190 Lincoln Met A . . . 2U 21 200 National Leath ... 10' 10H ir. N J Zlne 14.1 144.t 100 PorfMtlen Tire . . . flU 8U 1T0 Philip Merris .... 114 U 100 Peilum Crat ... fil Bl 100 Pe.lum Cr pf ...102H 1024 TJOO Radie .IV 3H MO Radie pf 3Vi 3r' TOORettfrdam nk M4 SH4 lin Republic Tire Rub. CO re 40 Rl-e Moter 21 K 21 ftO. Seeth Owl & Iren. 10ft HR 400 8pVer Mf 104 10 tTOO Sterling. Pred 41 i 40tj ion swift InUr 21 21 0OTnn Rwy 2 21 InOTenn Rwv pf .... 1SH 't 00T! B I H 1 t aoeTob Pred r.p.... r.v, r.Vj BOO ITnlted Ret Candy . fit. r. 0Wane Ceal 112 1'.'. ISOOtTe.t End Chem ..( R2 81 .lOOOVanraalte 01 St) STANDARD OM OOAnle Am Oil .... 17i 1TW 10 Continental Oil ...18." 1SS MSImii Oil Canada ..101 1014 10 Indiana P L 101 101 loerfet Transit 2a V 10 Ohie Oil 27rt 2TH 20 Prairie P It 230 220 tfinns nil of ind s'i S7 20 S Oil of Ky 400 40O 20 S Oil of N T 37t 374 TOOS O of Ky w I.... 7S'l 77i 1 r.M. i' r.e 124 141'4 11 1?4 3' I S 74 13 .11 40 10' i:.1 44i lfl 10t 34 ll4 4W 1)4 is5; 24 i; '-S 10'i 144V4 3U 1U (11 10." a4 3H My, no 21U loe 10V. 40 21 2i laVi 1 n'4 r. 112 Rl CO 17VJ IS'. 102 103 2 270 22(1 R74 400 875 77 INDEPENDENT OII.S 100 Arbanaa Nat Uas. f7i 1000 Beene Oil IT. lAOBeetnn Wyom .... 73 tee Carlb Ryn 4 120 Cities Servire old .lDOW, SOO cities 8rv n ctf. 20i 100 Cities Service pf.. fiOH BOO Columbia Pet .... 1 4 400 Continental Ref ... 34 TOO Cneden & Ce pf .. 4j 100 Creele Syn 3 MOO Kntneer Petrel.. 33 1000 Rrtel OH 0 AOO Federal Oil 1i SOOailllland Oil 0 l . -. 71 3-i 107 204 en'-. lit 34 44 (1 I)', in 72 4 100 ?t (lOi m 34 44 24 (1 .900 OUnreck Oil .....100 4Soe Hudsen Oil 21 ISOOInt Petrel 1H 300 Keystone Ranter . 01 OOOKIrbv Pet ....... 234 200 Uvlns-aten Pet ... IS 2700 Lyens Pet 02 (lnOMararatbe Oil .... 24U lOOMerrltt Oil ...... lOtt , KIKMI MVirldan Pet 10r 8400 Mexico Oil 3,V 400 Mexico Nealieard . 304 200 Mountain Pred ., 12i 1100 Mutual Oil H 100 National Oil .V J.. 14 14O0O Neble 25 OCiO New Mx Land ... 1VI 1300 Omar en 09 2000 lied Bran is ioe Ryan Cena 34 200 Salt Creek Pred... 14S leOOSapulpa Ret 34 100 Seab O A CI 14 SQOSImma Pet US 1400 Skelly Oil .',4 18S00 Teen 03 200 Ventura UH 300 Vulcnn Oil oe 400 Wilcox Oil 44 1000 Y Oil i... 18 MINING 1100Alalta-Ur Celum.. 44 4000 Alpha 28 100 A-A Cerp of S A.. 2t 1000 Belcher DUlde ... 2 10000 H'k Indite IS 20000 Rea ft Ment ..... 22 17100 lles & Ment Cena.. ml 1000 Canada Cep 21 100O Camlelarla. M .... 23 400 Cens Cen Mines ... ltft 13110 Certez SiUer ..... 02 100 ('reason Ueld 2) 1000 Crescent .MacNam. 1 40100 lreka Croesus... 30 KMe 40 Mining 13 1000 Oeldtleld Pler .... 23 1000 Hard Shell ., 22 13000 Unrnrlll DMcie ... 13 Hill llerln Mtnlne .... 34 100 Helllrwcr 04 23000 Inilpt Lccd 20 loejeremi Verde .... 3lt Kin Kerr I.tke 3, 2.-.00 La Hese Mlnlnit... 38 1000 McKIn Uar 22 list Macmi Copper.. . 20 7000 Marsh Mlnlnc .... 10 HOOMcther Iode Clt.. 74 f4iNi Nntlnnal Tin .... 03 0000 N,.vndn Ophlr 34 100 New Cernelia .... 174 200 Nlplsslnw fl't RoOONHen Xev 11 1 net) Ohie Copper s 1O0I) liny Herculej 2 30tM Sun Tey t leoe.Mhor Pick in 4()()0 Stew anl Mln 11 2100 Temipnh Dllde ... OS lOOTonepah Uxtensleti. 14 30CX) North htar ft RJO Unltfl Kastetn ... 11 2(100 Volcano Mines . . Bl 4islWt-t Rnd Cen.... li'i 700 Tn-Ic Huehe? . . . . 3." re.vds OOOO Allied Tacker Os .. 7t 1300OAm Llcht Os Hint; 0000 Am Tel C, 1022. 1004 OOOO Am Tel lis. '24... 1014 1000 Anaconda 7s. '21. .103 SOOOAnic Atn Oil 74s. 1034 4000 Rarnsdnll Ss ....103 1000 lleth Stl 7s. '23...102U 22000 Cent Steel 8s 100 2000 Cens ins Ralto 7s 1034 4000 Cens Ce.ll Ce os.. 874 1000 Cudahy 7a . .. .10(14 loeOO Cuban Tel 74. 10". 1000 Deere f Ce 74 s . 014 OOOO Del tt Hud 34s... 084 2000 Galeni 7s .. ,.10fS 21O0O Goedrich Tire 7s... Of. 4 lPOOHersliey Chec 74 s 1ii4 2O0OO Humble Oil 7s ...KmIj 3O0O Interbore 7s . . !.". 10000 Interbore "!s . .. 701; 8000 Julius Knjscr 7s . 004 10000 Kan O & K Os .. 004 13000 Krnnecett C 7s ..1024 lOOOKInir Ce Llcht (14 s 074 2SOOOMe Psc Ry 0, 014 4OO0 Nat Acmp 74s .. HI 20000 Nat Leather ha . . OS" nei 0 NT NJt ft It 7s v I. S34 KNlN'i Atn Fdl Os ... n, 3000 N Ohie L Os . . . en 4ll0OPhlU Ce Os 004 loeo Phlta ni (l 1014 100(M)Phll Pet 7ift ....IOSI4 32100 Pub 6rv N J 7s . . W'H 1000 Reht Oalr 7s fl'.U 2.100O Saks & Ce 7s ....1(10 4 oeo Sears R 7s of 23.100 4, 2000 Shan sheen 7s .... 1 0". 21100 Skelly O 74s ...103 20()OSOUthw Hell 7s .1024 2000 S O N Y 7s of 27.1054 1000S O N T 7s of 31. 10S 100 s O N Y 04s ...10(1 3000 Sun Oil 7s 1004 1UU ftlYlIl i3 01 -D ....MIL '4 2000 Texas Ce 7s 101 4 2000 Tel Edl 7s 101 13000 1'n Oil Pred Ss .. Ot 20O00 Warn SusT 7s ... 07 24000 West Ulec 7s ....1084 820011 Argentine 7a 004 22000 City Sotssens Oi .. NO 4 12000 Cy P A1K Ilraz 8s,102?t 30000 N'Y N'Htll fr 4s 73 22O00 N Y N H II fr 7s 07 18000 Russltti 04 s 20 10000 Russian OVjS ctfs. 21 20000 Russian 54s .... 234 4O0OSwlsi 34s 1014 G2O00 U S Mex 4s 48 09, 20' IH 1ISH OS 03 22 4 22 ls 14 no 02 28 23 10 ! 104 10 10 OA 3A 2PV 2lli 124 124 04 04 14 14 "?; "l'i 02 0.1 18 18 SJj "'J4 14V 14,4 3,, ajs 14 ij 11 114 3 u r. Mi no 204 2(14 CO CO , 44 44 lis IS 4 4 28 28 21 ; at 4, 17 17 si 21 7 80 21 21 2ft 2.1 2H 2H 2(1 28 1.1 1.1 23 23 FINANCIAL BRIEFS 12 i4 27 34 14 30 I'"' S 74 00 22 174 (I 10 i ' in 10 01 14 n 1A 12 r.'. 28 SS :n 211 10 74 01 33 174 04 111 s 4 1 111 01 14 r. m ci i' 71 10(1 1004 101 101 K134 1024 1014 110 1014 874 1(104 1044 H04 084 1014 084 1004 1004 84 704 00'i 1134 1024 074 01 n44 08, 834 0-l, no 004 1014 108 ('0 4 031., ion 1004 102 103 102, 1014 108 100 10011 1(114 101 4 101 1134 004 less; 0'4 se 1024 73 07 24 4 21 ni) 1014 10 4 71 lmi 1004 101 10.1 1034 1024 1024 100 1034 87', 1004 10.1 004 (IH4 1014 OHM 1004 1004 SI 70 004 004 1024 074 O'l 044 084 834 "4 0(1 'Ml 4 11114 10s en 4 1114 100 1004 1021 101 11124 1014 108 100 III', IOUi 10l4 101 034 07 1(184 014 SO 102V4 73 07 20 21 234 1014 48 Reserve Banka' Discount Rates Official rediscount rates at the twche Pod Ped oral Reiena Hanks are as follews: Treas. Lib. Cem'l Rkrs Hosten . Nev Yer.c ... . .Philadelphia . . Cleveland Richmond Atlnnta IChlcace St. Leuis Mlnrieapiills ... Kansas Cltv .. I Dallas 1 San Francisce. , ctf . 44 . 44 . 14 4 4 . .' . 14 . 44 . .1 . B , 'ft . r. . 44 bends. 4 4 44 4 4 44 4- 4 4 1 3 1 .1 4 4 paner. atcpt. 44 4 4 44 4'.; 44 r. 44 44 44 44 4 4 4 4. ft .1 44 Weber & llellbrener report for yenr ended February 28 net profit 243.48l after charjes and Federal taxes against net profit $Dii,222 previous year. A committee of bankers has been organized te "represent the interests of the holders of the (1 per cent notes of the American Chicle Company. The average price of tbc twenty ac tive industrial blocks advanced 0.1)7 per cent jestcrday te 00.05. while the twenty rails advanced 0.08 per cent te 81.20. There were 2307 failures reported bv telegraph te Hrndstrcet's for the month of March, with liabilities of ?,".ri;i.: 500 as against lt'00 failurcswlth liabil ities of $08,008,050 in March last year. Halsey, Stuart & Ce. offer 9 1,555, 000 Metropolitan Kdlgen Company (I per cent tlrst nnd refunding mortgage geld bends. Scries U, due February 1, 1052, at 084 and Interest. A protective coremitteo, lias been formed le receive deposits of Chalmers Moter Company first mortgage 0 per rent notes, default in payment of In terest en which occurred April 1. Plans for llftlns the International and Orent Northern RnuVay's receiv ership will be announced been, accord ing ,' Speycr & Ce. nnd J. & W. Scllgman & Ce., Its reorganization managers. Standard Oil of California reports for J ear ended December 31 net profit $.'tH.5.SS,2.'il after charges, expenses and Federal tax. e(ual te $8.45 a share (par S2.7) en $0,7a.ail capital Meck, against net profit $41,055,254. or $11.02 a share (par $100 j, in 1020. Itcperts from 180 of the 203 Class 1 carriers which lmve been received show a net operating income for February of $44,2S4.41)5. as compared with a deficit of $(l,4t'i!t,355 for the corresponding month in 1021. Lehigh Valley Hailread Company an an I'euni'es the establishment of a gieup liiMiinncc policy, covering the read'1- 20,000 oinnlejcs nnd lcprcseiUing In-1 siirance of about $50,000,000. The consolidated balance sheet of the Maxwell Moter Corporation and the Chalmers Moter Corporation and their' subsidiaries en December 31 showed net current ns'-eU of S10.731.05S and net I current liabilities of $0,278,043. Stockholders of the iiush Terminal C(iiiipan at their annunl meeting up- proved the proposed increase in the' cempauv's capital stock from $12,000,- 000 (e $15,000,000. the Increase ton ten slsting of common stock of $100 a share par value. Directors of the American llesch Magneto Company wert re-clecteil a' the annual meeting today. President Murray anneuiiicd that new businc-. was developing nt "an encouraging rate." The plant new eniplejb 1200 as l against 700 a jear age. D. K. Loemls, president of the Le high Valley Hailread Company, an nounced the establishment of a group Insurance policy, covering the lead's 20,000 emplejes, and representing In surance of about $50,000,000, effective as of April 1, with the Travelers' In biirance Company, of Hartferd. It is expected the banking syndicate I which has arranged te purchase an Issue i of Czecho-Slevnkia bends will make formal announcement of the offering. The Issue will be $25,000,000 thlrty jear 8s, te be sold en an 8.25 or an 8.50 per cent basis. There will be a t similar offering in Louden, simultane ously. The turnover of stocks en the New I Yerk Stock Exchange yesterday ex- i ccededthe largest previous total of this i ear by nearly 105,000 shares. Th'e i aggregate was In excess of 1.378,000 shares, In contrast te 1,213,420 shares en March 20. Eighty separate stocks, Including many rails, reached new high ' peiuts for 1022. Yonngstewn dispatch sas under i stimulus of broader business and higher quotations, industrial Issues arc firmer. Sheet and Tube common has advanced I te $00.50, from n re(ent low of $03. Trumbull Steel common lins led in vel- I nine of recent trading at $10.75, an ad- ' vancc of twenty-five cents from lire- I v ions levels. Uricr Hill common is firm at $17. The nggresetc of the? bends of the four i Liberty Leans eutstnndins March 31 , was $15,177,303,150. beies u decrease from January 31. 1022. of $27,742,- 800. During the same period Victory Liberty Lean bends outstanding de creased from f 3, 513.710,000 en Janu ary 81 1022, te $2,021,288,400, or $802,421,000. A new Issue of '$7,000,000 United Light nnd Railways Company first Hen and consolidated mortgage ,0 per cent 5 old bends, Series A', is being offered, he bends are dated April 1, 1022, and rn tin Anril 1. 1052. and are non- callable for twenty-five years. Theyi arc offered at, 03 nnd accrued inter est, te yield mera than 0.45 'icr cent7v Steckhnldcrsi of Htnndnre Oil Com pany of Kentucky at their annual meet ing at Louisville lncrensed capital stock from SO.000,000 te $12,000,000 and de clared n stock dividend of $2,000,000. They ,nlse'.set. aside $2,000,000 for btoekhelders te be purchased at par nnd placed like sum In treasury, per tlen of which will be, sold te empleyes en a plan te be worked out. The annunl report of the Massachu setts Gas Companies for 1021 shows In come of $2,070,208, which, with $475, 105 undivided earnings of constituent companies, makes an aggregate of $.'!, 445,433. After expenses, charges, pre-, ferred dividend, etc.. there will be left a balance of $1,753,057, cnunl te $7.01 en the $25,000,000 common stock. This compares with a balance of $1,038,070, or $7.75, in 1020 nnd with $1,000,070, or $7.00. en the common in 1010. The Otis Elevator Company reports for 1021 net income of $2,100,540 nftcr charges, depreciation nnd Federal taxes, equivalent, after deduction e' preferred shnre dividends, te $12.! a share earned en the $14,227,800 of Its com mon stock, against $2,880,277, ei $20.25 a shate, earned en the S0,485. 087 of its common stock in 1020. The payment of n 50 per cent stock divi dend during ,Jho enr explains tue in crease of $4,742,713 of common stock and also the surplus decrease from SO,- 1 100.277 te $2,200,700. I "Nothing te It," says a Yonngstewn Sheet nnd Tube official te report that company may absorb Steel and Tube Company of America. President James A. Campbell says Incoming tonnnge is exceeding expectations a month age in I all lines, pipe market Is stronger nnd prices firmer. While prices nre gen erally still tee low, earning position is Improving. In first qunrtcr company t came close te breaking even and the second should show an operating profit. As the e market broadens i you should have up-te-the-minute tnforma tnferma , tlen en active New Yerk Curb Exchange stocks. We supply quotations, latest news and complete reports en specific stocks ,Whkli stock interejtyeu I a comprehensive market re view, the INVESTOR &. TRADER, with useful charts and price tablet. AjIc for latest issue Traders Handbook, which explains hew te buy and sell stocks Asl. for copy Nearly 40 of new customers com from old customers Tenes &. Baker Members New Yerk Curb Markt Direct Private Wires Kev Voile Chie? Boiten Philadelphia r.tliburtb Detroit Baltimore Clevelind PHILADELPHIA OFFICE Wldenet Building v. Lecuit 4730 . Race 5861 ..... Bell - acepnene, Keyene BALTIMORE OFFICE 433 Equitable Building Telephone Fbia8451 UJ! A rr s K 1 , :. fc S - fe !&?, The Supreme Care Which the Steele Organization Gives te Each Construction Detail Is Responsible for the Uniform Success of This Firm Fer a business man who plans te build nothing is mere essential than that he build right. It is therefore perfectly obvious that he should employ the best building counsel available, at the lowest possible cost. There are many methods of building, but the Steele Idea of Indus trial Construction has found unusual favor in the ranks of Philadelphia's successful industrial and commercial leaders. , Our assumption of responsibility for all details of design, construc tion and equipment relieves our clients from all unnecessary annoyances and allows them te conduct their own personal affairs without interruption. We build at actual cost, and charge a fee for our services, which also includes industrial lay outs, architectural drawings and mechanical specifications covering actual construction of the plant and the installation of power, heating, lighting, sprinkling and plumbing and mechanical equip ment. ' . There are many ether attractive features which we will gladly ex plain te any executive. Proof of the soundness of our methods may be found in the fact that we have designed and erected plants for 1 1 7 lines of manufacture. &s Wm. STEELE dC OONS ' ESTABLISHED XD4 HCHTKECTS -ENGINEERS - CONSTRUCTORS Ce, S&kM fCLPMIA an TORONTO ,ij ftt-tf vx nJ, vr ! ' ' ' ""' "" .. . J "' t PERSONAL Would like te get in touch with all people holding any unliquidated' or unadjusted claims against AMERICAN LUMBER SALES COMPANY, which corporation sold large quantities of lumber 'in Philadelphiand vicinity which was purchased from the Emergency Fleet Corporation. These transactions taking place during years- 1919and 1920. Exchange of information will likely prove valuable te holders of above claims. All commu cemmu ' nicatiens strictly confidential. Address A 219, Ledger Office. i Mi ia I $fc&e&W who does net cover hit property with full title in surance lays himself open te possible future trouble. This may only take the form of a dispute ever a neighbor's infringement en his property rights or in the extreme it may mean cemplete less of the money invested. North Philadelphia Trust Ce. Bread St and Germantown Ave. Above Erie Ave., Philadelphia We Offer: U. S. OF BRAZIL 4s OF 1810. TO YIELD OVER STATE OF SAO PAULO (BRAZIL) 5s OF 1105 TO YIELD 7.10 REPUBLIC OF COSTA RICA 5s OF 1911, PAYABLE IN AMERICAN DOLLARS TO YIELD OVER NEWHALL, GROSS & DIFFENDERFFER REAL ESTATE TRUST BUtLDINQ DEPOSIT BY MAIL Written acknowledgment is immediately made of all deposits received by mail. Bring this old reliable bank te your place of business by using its modern facilities. Let Us Serve Yeu We invite consultation regarding WILLS AND ESTATES large and small CAPrTAL$500,000,OOU If SURPLUSIEARNED) 11 11 S2.1S0.000.00 'l Seasoned Industrial Preferred Stocks Among our present eil'eriiiRH is the becn per cent preferred stock of one of the principal iron industries of Pennsyl vania. It has a consistent dhidcnd-puyiiiK record and is new busy with three eight hour bhifts a da.v. The income te stockholders is lax-e.Ncmpt under Pennsyl vania laws. Dividend guaran tee fund and linking fund re quirements arc provided for ur.der charter and enforced by our supenisien.- Hae one of our representa tives gie ou the details of this offering and explain our plan of supervision. The R. L. Dollings Ce. "Bwlders of Buaineia" 1421 Walnut Street riilliulrlplilii, I'enii i. Traders Column BiDS and OFFERS Arm 4. 1022 CA8SATT & COMPANY SPRuce 2000 We offer subject te prier sale: $10,000 Penna. R. It. Eq. 6s, Jan. 13, 19355.60 $10,000 Atlantic Coast Line Kq. Gs, Jan. 15, 19345.60 $10,000 Rich., Fred. & Potomac Eq. 6s, Jan. 15, 19245.50 $10,000 Southern R. R. Eq. 6s, Jan. 15, 19315.70 $10,000 Eric R. R. Eq. i',s, Series EE, Oct., 19255.50 $10,000 Wabash R. R. Eq. 6s, Jan. 15, 19325.80 COMMERCIAL TRUST COMPANY SPRuce 8200 Bethlehem Steel Cerp. 7s, July 15. 1923. McCOWN & COMPANY LOCust 5193 Federal Light & Trac. 6s, 1942 Darby, Media & Chester Ry. 4'js. 1936 West Penn Pr. 3s, 6s, 7s Penna. Pr. & Lt. 7s, 1951 E. G. Budd Ce. Stock & Bends Portland Ry., Lt. & Pr. Stock & Bends Georgia Carolina Pr. 5s, 1952 NEWHALL, GROSS & DIFFENDERFFER WALnut 2890 Crew Levick Ce. 6s, 1931 Indianapolis North. Tr. 5s, 1932 Kansas City Ry. 1st 5s, 1941 United Fuel Gas 1st 6s, 19.16 Georgia Rwy. & Elcc. 5s. 1932 TOWNSEND WHELEN & CO. Established 1837 LOMbard 7520 UNITED STATES GOVERNMENT BONDS Philadelphia lepM-leltt 1(122. by J. f. f). Ce,. Ltd. Ter pace In this column phene hpruee 0720 United States Shipping Be (Through the United States, Shipping Bdard," Emergency worperauonj Invites Offers en the1 C 22--. rmm'Uml. J?jfM.iV jecuruies iceniww vw. The United States Shipping Beard, through the. United States Ship Beard Emergency Fleet Corporation, invites eners ler tne purchi any or an ei tne securities ucstiucu ui,,, ......, ..v. ,w uiU ai rntnnefitivr sale. ' . All" offers received before April 19, 1922, will be considered; an aur-irrt uriii Um nA tifnr that Hate. Neffotiatiens may b' entiriuril v after; and all offers received prier te final award will be censidereiy 172,916.65 Notes of DAVISON CHEMltAJL. VUMFAMY, sect bypreferred mortgage dated July zz, isze, en Brg e "ASTR1 .. . . ....ni nunuTfiii nuniuv -M 97Z,910.65 NOteS Ot UAVlSUn v,nnivnu wviuirnni, seCHd by preferred mortgage dated July 29, 1920, en Barge "VOLAN1 3Rur47 Mt. nf DAVISON CHEMICAL COMPANY, aeeu by preferred mortgage dated July 22, 1920, en Barge MA8 LAND." $34,873.20 Notes of DAVISON CHEMICAL COMPANY, secu by preferred mortgage dated November, IS, ,1920,. en Bati "DOVER." $1,866,852.00 Notes of LUCKENBACH STEAMSHIP CORPQ.I RATION, INC., secured by preterrea mortgage aatea May 1920, en SS. "HARRY LUCKENBACH" ex-Bel Navis." $623,085.94 Notes of PAN-AMERICAN PETROLEUM Al TRANSPORT COMPANY, secured by preferred mertgi dated March 27. 1920. en Tanker-TWILHELM JKBbliN.'' .', $380,551.98 Notes of PAN-AMERICAN PETROLEUM Al TRANSPORT COMPANY, secured by preterrea mertgi dated March 12, 1920, en Tanker "K. ju uunnw x in." $271,393.74 Notes of PAN-AMERICAN PETROLEUM AN; TRANSPORT COMPANY, secured by preferred mertgafj aatea April v, ivm, en xanxer w. l,. ameu. $1,010,625.00 Notes of THE TEXAS COMPANY, secured by ' ' x j... j n inin T-l, 1SVAM mortgage eatea January c, iu, un i.u nn. ,, $1,010,625.00 Notes of THE TEXAS COMPANY, Becured by firtf mortgage dated February 6, 1920, en Tanker "DIRIGO." ., Jl.010.62i5.00 Notes of THE TEXAS COMPANY, secured bv fi mortgage dated January 19, 1920, en Tanker "LIGHTBURNB $1,010,625.00 Notes of THE TEXAS COMPANY, secured by fii mortgage dated January 5, 1920, en Tanker "SHENANDOAH. $1,260,007.50 Notes of .WILLIAMS STEAMSHIP COMPANY," INC., secured by first mortgage dated February 3, 1921, en 81 "WILLPOLO." SI. 255.653.74 Notes of WILLIAMS STEAMSHIP COMPANVi INC., secured by first mortgage dated February 3, 1921, en Sf.j WTT.T.PAPO" v "Rlrhtnnnri Hore." J $299,468.75 Notes of MUNISLA STEAMSHIP CORPORATION! secured by preterrea mortgage aatea marcn ti, xviM, en 88,. "MUNISLA.f' V $607,500.00 Notes of GULF NAVIGATION COMPANY, INCJ issued under contract dated February 7, 1920, for purchase or SS. "ALFRABA," ex-"Lake Fisher." Fer the amount of the several notes of any issue, the dates of maturii rates of interest, descriotien of security, and terms under which said nn or obligations arc issued and outstanding, reference is made te the sev mortgages or contracts aDevc acscnucu, which-may ec inspected at Kei 1706, New Navy Building, Washington, D. C; or copies thereof at Re 201, 45 Broadway, New Yerk City. A certified check for two "and one-half per cent (2j4) of the ameial ettered must accompany bid. Hits sum will be credited en the purchu price if award is made, or will be retained by the Beard en account! damages if the successful bidder fails te complete the purchase. Checkii nncfirrafii1 hirlrlrfi will hp nrnmntlv returnprl. Full payment must be made in ash upon tender of securities. 'v1 The rate of interest carried by the above listed mortgages is 5 per etgtl The Beard reserves the right te reject any or all bids, Bids should be addressed te 5.l n i JFI . HARRY S. KIMBALL, Vice-President in Charge of Finance United States Shipping Beard Emergency Fleet CorperatieJ Washington, D. C. and marked "Bid for (name of Securities)." vl 7 41 " -,- w -.... - - - . , ,-: JT w .--,.. -. HARPER&TURNER Inveatment Uankeis Membtis t'Mlailvliihiu Stock lltihinun Sleck Exchniuce Building Philadelphia btrunten Ueaaiim ayMjg'gjj U Hlll. Rtpublic Iren I. Stcl Ca VcumftlemO Three Reasons for Buying Steel Structures New : 1. Lew steel prices. 2. Quick delivery. . 3. Prompt completion. McClintic-Marsliall Company (ifiifrul (inUm! I'ltUliumli, I'u, riilliuliliililut 'MurtU HlJir, 'ew aiU Clitouse bun KrmiclJie McQintic-Marsliall SteelBndges i. Buildings n -7- Prompt Payment of Lesses The New Yerk Insurance Dept. report of March 6th en examination of the American Credit-Indemnity Ce., states: "The affairs of the Company are efficiently managed and its treatment of Policyholders and claimants is fair and equitable. "Claims are promptly paid; requests for Interim Ad justments prier te the expiration of the Policy period being; promptly complied with under Bends bearing this form of rider." Wc suggest that it will pay Manufacturers and Whole salers te investigate our Unlimited Policy of Credit In surance. Alse Limited Policies at a lower cost. Write or phone us today. Ne obligation. Pa) menu n Policy hMtis ever $11,000,000.00 AMERICAN CREDIT-INDEMNITY CO. or NEW YORK E. M. TREAT, resident ISSUES STANDARD UNLIMITED FOUCg W. J. MORPHY, Manager J. F. McFADDEN, General Agent IOU Chettnut St. Phene Filbert SS03 Philadelphia, Pa. 1 Net Merely a Place te Handle Menev The Real Estate Trust Ce, is a "business financial" fecal point in clese touch with first hand sources of information throughout th world, with a wealth .of worth-while experienc for vnit te rirnur nnnn of n.. .! e..i. !.. r- mUBLj'i .di.r te k"OW its full value. THE REAL ESTATE TRUST CO. OF PHif Ann puti Bread and Chestnut Sts. TAX nCTUBNS AUDITS I. Franklin Howai CtrtlfM Public ILlBl 'litis RU.. ,..1 lPfcUwW.t),A, mimmmmtmmmimilr--.Zm'- . HIHTIUIS ft Ce. mtant litawir Hide, O.O. l.awrnnA F. Rrnun A r. CERTIFIED PUBLIC ACCOUNTANTS ISS BEAI. KWATB TKUHT BLUO. ItivciUckt n4 J Prtlv;ililp SQtinMlTs M4 prtctr HUNDREDS OF RAinwiN I rrrKArTirvc m - m h mwmm f 1 ail i-VjVf ITfi Vf lit jj & USED ON THE WORID'S I nr.r.iMn. daii eriAnS. QONSTUUCTING big locomotives 'for trunk line railroads is only one phase of the locomotive builder's busine.l Tii OVfimnle 1nrntn.M untl 1.. t .... . . J 7. . . ......,.. .BH,uK lujireuua require lighter ioceniouvetj- peciuiiy ueBigneu 10 work in the weeds. Philadelphia bulWM them. Hundreds' of Baldwin loggers ure at wprk in this and ether countries. ' ' " fn 1TW ' THE.BAtbWIN LOCOMOTlVEivORK M. m n t'.'-rk .IM,
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