y I V T'f ? ? wn&vzsFBfrwi ii ' mT?!! 1 gaffe itfUBBjll Hyg AnF,'" p?isim mwFtm R5T75 RmFH NEW ISSUE Acting undir Authority of the United States Government Th Military Government of Sante Dominge ittuea tin' behalf of the Dominican Republic $6,700,000 Twenty-Year Customs Administration 5 Sinking Fund Geld Bends Repayable at maturity at 101 and interest Dated March 1, 1922 Due March 1, 1942 The Imim ef theae Bends has received the approval of the United States Government required by the terms of the American-Dominican Convention of 1907. Net callable before March 1, 1931 Principal, sinking fund, premium and interest payable in New Yerk, Bosten and Chicago, at the offices of Lee, Higgirtsen & Ce., Fiscal Agents Jer the servicejej this Lean, in United States geld coin of the present standard of weight and fineness, exempt from Dominican Taxes, present or future. Sinking Fund, first payment April i, 1930, sufficient te retire entire issue by maturity, presides for purchase in the open market t call by let at 101 and interest beginning March 1 , 1 93 1 of at least enctwelfth of the issue each year. wmw SESSION ON CURB Sterling Products Moves Up te 43 .Van Raalte Recovers ess Oils Steady wm&srw t IS SECURITY: The Military Government of Sante Dominge guarantees "the ac ceptance and validation of this Bend issue by any .Government of the Domini can Republic as a legal, binding and irrevocable obligation of the Dominican Republic," and further agrees that during the life of this lean customs duties will be collected by an official appointed by the President of the United States, and that the lean new authorized shall have a direct lien en these cus toms revenues. Fer tKe. past 14 years the annual average customs revenues have amounted te ever twice present interest and fixed sinking fund charges. These Bends will become a first charge upon customs revenues (subject only te the expenses of their collection) after the retirement, net later than 1929, of the leans of 1S08 and 1918, of which there were outstanding January 1, 1922, $7,534,000 and $1 ,627,000 respectively new a prier charge upon customs revenues. SPECIAL PROVISIONS: "The Military Government of Sante Dominge engages that during the term of this lean, no future bends of the Republic will be is sued, secured by customs revenues, ether than the total authorized amount of Bends of this issue," ($10,000,000) "unless the annual average customs revenues for the five years immediately preceding amount te at least VA times total charges en all obligations secured by customs revenues, including charges of any new lean, and that the present customs tariff will net be changed during the life of this lean without previous agreement between the Dominican Government and the Government of the United States." REVENUES AND EXPENDITURES: Customs revenues from August 1, 19Q7 te December 31, 1921, amounted te about $56,728,000, averaging approximately $3,912,000 per year. Fer the six years ended'December 31, 1921, customs revenues averaged ever $4,500,000. Annual interest and fixed sinking fund requirements en the entire funded debt of the Republic, upon completion of present financ ing, amount te $1,857,500. Since 1907, annual customs revenues have been ample for the service of all funded debt. Total revenues, for the six years ended December 31, 1921, averaged annually $6,902,055, while expenditures, net in cluding public improvements, averaged annually $6,320,494. PURPOSE OF ISSUE: Proceeds are te.be used for the retirement of a portion of external 'indebtedness, all internal indebtedness, for public works and high ways and ether purposes. ' DOMINICAN REPUBLIC occupies the eastern part of the Island of Haiti, West Indies. Total area of the Republic ever 19,000 square miles, or larger than the combined areas of Vermont and New Hampshire. Population in 1921 was 894,587. Principal products are sugar, cocoa, tobacco and coffee. Foreign trade has grown from $9,632,926 in 1S05 te $45,199,375 in 1921, and has mere than doubled in the past eight years. We Recommend these Bends for Investment PRICE 94V2 AND INTEREST, YIELDING OVER 6 Lee, Higginseh & Ce. Dillen, Read & Ce. Brown Brethers & Ce. New Yerk, April 5. Industrial lbsues en (be curb were irregular today. Sterling Products wan one fenture in tlih group, advancing from 41 te 4.'1. lnntman Kodak hIhe wan In demand, foTlewldlr the old "hare, which reRe xliarnlv en the nteck exchange, nnd ad vanced from 72 te above 74. Van Itaalte. one of the weak features in yes terday's trading, recovered all the less then Mifttalned. Southern Coel and Iren was in demand and made tC mod erate advance. Petroleum stocks showed a steady tone generally, with some of thee is Mies declining slightly under moderate sales. Standard Oil of Kentucky was traded in at 77 te 77. The Indiana stock sold at KS during .the forenoon. Imperial Oil of Canada was strong, wil ing nt 103. Klrby Petroleum held close te 22 i. INDUSTRIALS High nOfl Acme Ceal . Rllen.Umn I'ticklni tee Alum Mr ., 42H Am liMher SO Am T.lvlif . . lflOO llrlt Am Tell reup. )uu wmcagu rtinpie :1SI! .187 inn ti. ewv i uiumiun lniPrniti no 100 Continent-it Mnler. S 200 DiltO pref .... R7 1100 Durnnt .Met of Ind 14 300 Durant Meters ...J 2.100 I.nstman Ketlalt . 71H liie K'.ee Blir Buttery.. 40'. 2WU rrentennc Moter.. 11 70U Mnrilner Meters .. 1B 200 Olen Allien Cel.. 44', (100 Ooeilsenr Tire ... 11 100 Uoedjeur 'I Ire pref 31 1200 deldwin t'lcturea. 04 .1.) iinie 4. Kliuurn... loe Hui!qii Cn liref . , 300 lIuilen & Miinhat. .Ii ft Hunr Culi i 200 Inter nubljcr 2(100 Jtiiiu. Krener .... 100 I.llibv MiNVIl 100 Lincoln Meters S3 N .T Alnr .... 100 I'hlllln Merrl. 100 1'e'tum Ce-eil 11400 Ilaille 1200 ltadle pref 100 Itepub llre Hub tm tte terdnm Hank 1R00 Keuth Cunt and Ir 200 Pplcer Mr 4200 Hterlln 1'red . . 100 Swift Int S00 Tem Rwy 100 Teb Pred Exp . . no Tedd Hhlp MM) U H L, ft It 4000 IT H Steam 11 lOOTenn llu-y urcf.... 1H 800 Wtiiia Ceal l't 1200 Van Itaalte 01 STANDARD OILS 1 Alex. Brown & Sens The abere statement!, while net guaranteed, are based upon information and advice which we betiere accurate and reliable METROPOLITAN EDISON CO. READING, PENNSYLVANIA FIRST & REFUNDING MORTGAGE 6 GOLD BONDS Due February 1, 1952 PRICE 98 & INTEREST YIELDING ABOUT 6.10 Free of Pennsylvania State Tax Interest paid without deduction of 29 Nermal Federal Income Tax Detailed Circular en Request Metropolitan Edisen Ce. First A Refunding 8 Bend Due August 1, 1922 Accepted in Payment at 100 & Interest &. : "V. EtRSLYBROS. & CO, BANKERS 1431 CHESTNUT STREET PHILADELPHIA EMBERS PHILADELPHIA STOCK EXCHANOB w-ww-ww wrwv-w Metropolitan Edisen Company First and Refunding Mortgage 6 Geld Bend Series "B," due 1951 This Company aervea Read ing.Lebanen and 64 ether com cem munitiea in Eastern Pennsyl vania with electric power Denominations $1000 $500.00 $100.00 Price 98 ? and Interest Yield about 6.10 Free of Penna. Four Mills Tax ZJfScrfytiit Circular Sent Upen Ktqucst SCHIBENER. DOENNING &CO INVESTMENT BONDS 1615 Walnut St., PhUa. Member Phila. Stock Exchange Bell. Uiruit 7460 Kcj.tene. Bun JSOJ JSB233BSBS3BB. We wish te announce that MR. ALBERT J. WILLIAMS has this day become associated with this firm ' F. J. LISMAN & CO. I Members of .Vete Yerk Stock Exchange 61 Broadway New Yerk 'April 9, Mi GEO. A. HUHN & SONS utecks and bends Mrmlwri of Iht rhllodclehU. New lark nnd Chlrue Bterlc Eienni fifw lark Cotten Fxrhitnr; Commission Orders Executed In All the. Principal Markets Liberty Bends Boueht and Sold UrJlMrne Oert Bide.. HIS W.lnet HI. N. Y.. ill Bnudnrer C. S. PATTON & CO. SD CIIKSINI'T ATS. BANKERS BW. BAn.lw'TBVpNSOJf CITY OF SAO PAULO 6 Bends due 1943 A direct obligation of Sae Paule, the second largest city of Brazil. Specially secured by first lien en, transportation tax and the tax en industries and professions. Payable in dollars at New Yerk. Price te yield about 7.40 Samuel McCreeryfi Ce. Jfembcrt Fktte. Stock Exchange Franklin Bank Buildktg I.err 1 p. m. !. 13.. ... ijk ... i 4 ... :u ... p, A. -J'. ...14. . . U'4 pf.101 ... an n 84 '4 tee 105, 4S 20 3 B 74'i ' 'JflO A'nsle-Am'r Oil lOOAtlatitlc Uoliei 70 Iluckfyn I' J. . 10 Imp (J'l fan . II) Tnd.ntn I I, , 100 Nat Trnnlt . 10 S V I'nti 400 Stand OU of Ind. 2 U en ina injtt 2S i US', 77S U fin ,8'-'.. UHi CO 8 no 14 Bli 72 imt 44' i8tt in hi; 14 7 4 J' 113 !!'! K84 P.t te Jl 4i(; 211 3 n'i 7IH l't 10 HI' j 1 17i ',) flt'g ion 2S et HI 000 Stand Oil of Ki .. 77" 77, INDEI'ENMKNT OII.9 200 Allen OU B0 50 10000 Jloerm Oil 15 It 700 Husten 0011?.. 73 71 100 Carlt. Hs-nd 3 3'. U Al 1R4 13H 137 '? B0 X in 14 31 J 7414 4I14 11 15 U 44i 11V? 34 IS IS s'; I'h 7. 234 4H 2i 11.1 im 101 n K4'4 OU 10 4314 2(ls4 n :.; 74 . i'i 10 Hl'i il 60V. 17'4 0 ai ma 10-" js Gl KS'i 774 iee Candelarla M ISOOCertej Fllver .... l 100 Crsasen Oeld 2) 200 Davis Daly Cep .. j'i 100 Doleres Eapcranz.. lU 1000 Cracker Jack S 180O0 Eureka Crweus , . . 2S lOOOOeldfleld Fler .... Ii 5000 Hard Hhell 24 7000Harm!ll Divide ... IS 8000 Independent rad . 20 B00 Jereme Verde .... ni 11000 Namara 8 3000 Nenranas 4 1100 Magma Copper ... 28'4 100 Masen Valley 1H 1800 Mether Leda clt.. H 100 Mether Lede (old). 12". S100 National Tin 01 3000 Nevada Ophlr .... 31 lBONew ('ern.lla .... 18 BOO New Dominion . . . 2', 4 200Nlpleatnc 0 4000 Jleic Cene 8 aOOO Rochester Mlnea .. 21 8000 Han Tey 5 700 He Amer P Q... A (100 Tonopah Belmont . 14 2B00 Tonopah Divide . . 04 400 Tonopah Bxt I '4 3000 North Btnr ....... B 10200 United Knntfrn .. Ill 1O0 Unltcl Verde 27! 1500 Volcano Mine .... Xi 8000 White Capi 4 4000 Teck HuRhes .... 50 BONDS 1)000 Allied Tacker ti . 71 '4 8000 Alum 7a of '25.. .lese. NOOO Am Mght tin ,. . inr.Vi 2vw Am rei e. or .'i.iui 12000 Anncunda Cep (I... tiD lfiOO Annrendn 7s 20..10'l 1000O Armour 7 102 86000 llirn.lall fs 11.1 H 1000 Ileivcr Heard 8... 04 5000 Ileth Htl 7 of '21.102 B0O0 Iteth Htl 7h of '3-.102'i 100O run Nat Ily 13-7S.IOI1U 8000 Cel Uraph Be ... 411 1000 Cem Textile Hg .. 07 20000 Cene Ceal Ce As,. H7'j 8000 Del t. Hud r,ii,a.. nsa 21100 Deern 7'i 09 1000 Oalena 7 102 4000 Goedrich Tire 7s.. 100O Uulf Oil 7 ... 1014 1000 HerKhev t'he 7i4s.inna 25000 Heed hul.ber 7s.. 97 4O00 Humble Oil Ta...lOO 03000 Ititerbore 8 79. 12000 Knj ee' Ce 7s 00 11000 Kani O & U ... 05V 8000 Kennecetl C 7s..l02'4 17000 I.tclede Qai 7s . . . 08f 87O00 Marland 74a .... 01V? 27000 Me 1'n.c ny 0 9!i 2000 Merris W Ce 74s. 101. 2000 )rth Am Hdla Os 02S 18000 I'hlla Ce 0 004 lOOOPhlla Klee 6s 101. 2000 Philippine 54 a ...10fl, HdllM) l'iit Hrv N J 7.. COOO Prnr (;ein 7.'23.1fil4 1000 Salt. Cn 7s 100'! 5000 .Sears-nbk 7". '22 100, 30OO Sears'lllik 7s. '23 100t 4000 Reutlmest Hell 7s. 102U (1000 S O N X 04 s 1054 7000 Sun Oil 7 100s. 2000 Swift ". Ce 7s, '2.1. lem 7000 Klft & Ce 7e. '31.102". SOOOTexa. Ce 7 101 . 5000 I'n nv llav 74s ..102'. 20OOVnruJm OU 7e ...10n' 170OO IV.trner Sua; 7 . . . t)7'i ROOO 1Vetern HI'c 7s ..109 398000 Aruentlne 7f 90; 32000 City .olren (In . 80i4 50000 NT MI A II I"r s.. 074 10000 Uu-i'-lan 04 ctfs 22 10000 Ruslan 54 s 2rt lnoeitus!an 54s ctfs.. 20 1BOOOHU3 r.'ia 1014 iJi'itiyK, ie "jx? 71 10 JU 1044 101 IM 103 , 142'i 1021J r, 102 ma;; 1011U 44 . 97 K74 II HV HO 102 OH". 10. inn 1,7 . 1 oil 794 t(0' 95" 102V 98S 96 99 101"4 92H I1GI4 101S sHUlflf IsBSSaBlarS 19 Ufl "J U BBBBBBBBBBBBBBBi v4.if ,.j jp-,t m rwrimr 'Xi'ff IITEi Jv'iJk.-rt ' vr'. "msra than an - bultiint" Broadway and Fifth Arenua at Madisen Square New Yerk FIFTH AVENUE BUILDING Se many of the daily throng of buyers are from out of town ttiat the building takes en the aspect of a busy hotel. Partic ular care is given te facilitate the buying of these visitors at the sales offices of our clients. RS le.1 '7 101 117 ' 1 100 7I4 99J, 954 102', 9Hi 93U 99 1011 92 904 1014 , KMli 100 094 094 '. 1014 101 74 1001. ine'4 1004 lOOS inn' 1024 1014 loe- 1014 IOJ'4 1014 102. 100", 90 '. 10S". 994 81I (174 O I ion', 1024 le-i, 10-iS 1014 10."i 1014 10J4 ler", i(14 10-4 09 S4 (174 Get 67e Dividend and Help Philadelphia at the Same Timet Iferw'fl hew. Philadelphia needs meney te build. Wc nrc In Imsluees te prevldn Hint money We arr new financing ieer.al new hulldlne npir.atleiiH. l.ry leynl Phlln Phlln (leltihlen should Jein our list of BtockheldrrB. Our Pri firrtd Steclt Is irurtrnnteed 6 nnd pnrtlrlpatei equally with the common nteck In all prefllfl, Leading hnnlcerH, hultders nnd prominent men Indorne our plan. Absolutely R.ifel Wu deal only In first inertKftKM, Wrlte for IloeUlnt D explain In our Help Philadelphia proieiillon. Ueth Phllndfl phhi iaid you will benefit GENERAL MORTGAGE FINANCING CORP. Ridge & Girard Aves. A Service for Philadelphia BANKS and BROKERS 20 1014 404 jr. 20 I'll 1, 40 3! 30 fit .Service idld) '.'.'. 1 98 4 19.S4 194 100 relumbla Pet 1 1. 45 3, 44 300 CentI llcf 900 resrten 4 Ce pref. . iiiii'i ureeie pnu ....... " lOOOC'ushlnB I'et 7 175nni:rs Petrel 52 500 I'ederal Oil 1'i 1(10 Kenslanil 9s. 900 Olcnreck Oil 100 12dO0 Iludnn Oil Ill line Int Petrel 1.V4 lOOKejstene Hanger.. 01 900 Klrby Pet 2,'4 7700 lens Pet .... 90 400 Maracalbe Oil .... 134 WOO Mer'dan Tet 11 000 Mexke Oil 3 100 New Yerk Oil .... 1.1'J 200 Ne Am Oil 1 .IIMKINoble 21 1900 New Mex I.ail ... 14 immohle Hanger 9 2100 Omar OH 04 1O0O ned Banks IR 200 Its an Cens 51 100 flit Creek Pred .. 144 20OO aapulpa Ref 34 300 SImms Pet 114 llOOHkelly Oil 5'i 11200 Texon 80 . 100 IVtlcer Oil 44 lOOWoedburn Re 1000 T OU 18 MINING me la.ka Br Coluni . .14 1 000 Alpha 2S 700 nc Am Cp S Af 22'i TI000 niff Iede 17 2JS0O Helt &. Ment . , . M 51 'A 97 1R 1fti 05 224 2 214 10 v; 13 iH 23 14 9 81 IS 84 144 s 104 14 59 44 an is 14 21 214 15 21 34 4"i 51 'I1 9 100 IS !'.. 01 224 1)11 234 11 3. 114 2iH 94 94 5S 144 34 104 54 59 se is 2-ri 10 23 FOREIGN EXCHANGE New Yerk, April 5. At the opening of the foreign exchange market tednv. Medina showed a pain of cent mi-r yesterday's final and was within that fraction of the recent high, nnd franci bheunl nn improvement of 1 U point". Merks were up 'i tieint. With lliese exception", and IMglan1? and euildpr. ivhich were uiR'tinnged, the market was I weak. Lire lrM 'J points, Si--H 11. n... setnR 'J. Onuieli .". Nervnv "0, nnd Sweden .1. It wrts theiiRht the market, te some extent, had discounted favora ble expectations of (lie results te be attained at the furthceming Genea con ference. Nevertheless, the market np ncars te be in perfect control of the lancer speculative forces. At the end nf the firt hour, Mer lins: was rellectcd in u lower niarkit here, the rcit of the list being do de pressed in wnpethy. Sterling eable were 4..'!!)vs. demand i;.W ; franc cables 51.14. checks 0.13: lire cable" e.L'.'p. checks .".I4j; marks ..'H-. The premium en New Yerk fundi in .uenireai ietia was unclmiiKed at 3'per cent. TIip discount en Canadian funds in New Yetk was 2 le-lC per cent. IUSTERDATS CtSING QUOTATIONS SterlltiB Franci Ure Guilder. Demand 4 3l)i 9 14 5.304 37. S7 Cabl.s 4404 9.144 5 31 .17 UO TODAX S OPENING CCOTATIONS Sterling- Francs L.'r. Uulldera Demand 4 104 9.144 5 274 37. SI . . 4.404 9.154 6 28 .17. 'JO NEW YORK CENTRAL RAILROAD COMPANY Refunding and Improvement Mortgage 5 Geld Bends Gerki "C" Due 2013 ltedcemahle as u whole at 105 after 1031 Price 94'a and Interest Yielding Nearly 5.30 EDWARD L0WDER STOKES & CO. 20 Seuth 15th St., Phila. I.OCLST 0313 WE HAVE developed and maintain a highlyjj ! specialised daily service inS , United States Governments Bends and Treasury Certifi ' csLtcsatprcvailingmarket prices As Specialists in t Government Securities 6 We make it possible for Phila-" dclphia Banks and Brokers tOr clear each day's transactions at &" minimum of trouble and expense; saving them one day's interest, transportation charges and there spensibility of handling the secu- ritics for out-of-town shipments We shall be clad te advise vei regarding large or small transactions. Our telephone is Spruce 3881. ji Edw. G. Budd Mfg. Ce. 1st Mtge. 6s Due August 1st, 1925 Price 98 V2 and Interest Te Yield BVz"r Tree et reniiH.himiu Mutr Tax Townsend Whelen & Ce. 505 Chestnut Street Member, of N. .A l'lilln. Sterk Krlia. ISAAC STARR, JR., & CO. 16th & Snnsem Sta Philadelphia LJ . Tl Cables Safe Bends for Investment Halsey, Stuart & Ce. Inc. Lana Title Bld. TtUfhme locust 741 i Hathaway, Stene, Wallae 9L William, lac. BNJNnms MAN, ttU Unm St., PkilamVptU inucs 7n Operatlnif Manauement et Industrial Enterprisem. Industrial and Technical Invea- titratiens and Reoerts. Consult- Jeb Ensrineers teManufarturera Receiver for F. D. Klnnaly t Ce. tw lerk, Arrir S An Inveluntirv r'' r'' tlen In lmnKruptcy liaa bn fllril In the t'nitdl itat-t Dlatrlri Court acalnjt r. I I Kinnaix - . sieck LrnKisrs of HjO r ar , ntrft Nen- Yer!. bj- the r.-erlcis O Ml t I Company, Inc.. ellcstlnir a iltbi of t7i fir Itrlntlntf Th n-tltlen allsj tlie firms 1 llillUI.- tu l $123,000. .iti ara net m n tlen'.J YOUNG MAN desires office position; five years' bond bend house experience as trader, statistician and correspon dent. Excellent references. A 232, Ledger Office. HEWBORGER, HENDERSON & LOEB Members New Yerk and Philadelphia Stock Exehanget 1410 Chestnut St. New Offering Exempt from All Federal, Municipal and Lecal Taxation hatted Under the 'Federal Farm Lean Act $2,000,000 California Joint Stock Land Bank (Operating in California and Oregon) 5 Bends Dated November 1, 1921 Optional November 1, 1931 Due November 1, 1951 Coupon bends, fully registerable and interchangeable. Denomination $1,000. Interest payable semi-annually, May 1st and November 1st. Principal and interest payable at the Bank of issue or through any office of the undersigned. Autherity: By Act of Congress these bends, arc drclarcd instrumentalities of the GeernmeiU of the United States and are prepared and engraved by the Treasury Department. Security: Obligations of the issuing Bank, shareholders' liability being double the amount of their stock, and collaterally secured by cither first farm mortgages or United States Government bends or certificates of indebtedness. Government Supervisien: These Banks operate under Federal charter and Government supervision, 'heir bends and the collateral pledged as .security ha c been approved bv the Federal Faun Lean Beard, a bureau of the Treasury Department of the United States Government. A Ifwl inuettmmt for all Fiduciary and Truet Fundt under the juriedictien of the Federal Government and acceptable ae eecurity for Postal Saving' and ether deposit of Governmental funde, and the Banke may be designated by the Secretary of the Treasury a financial agents of the Government and depositaries of public funds. Price 101 Vz and accrued interest Te yield about 4.80 te optional maturity and 5rc thereafter William R. Compten Ce, Halsey, Stuart & Ce., Inc. 14 Wall Street, New Yerk Land Title Bldg., Philadelphia The above statements are official, or based en information which we regard as reliable, and are the data upon which we have acted in the purchase of these bendi. BrffW MP ?ti T i ' n y 4 'V r I f N Vtaa, m t 1 3 Mf f 1 't ' -A miitvAiV'i
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