V,M
'I
m
Iv
I
Hi
Jtf
Ut
Ml
V
1
!
1
t
C
Wm
fl .Vl i
k
!'
pft:? si
mm
'&
v
Si$i0m
Central Argentine
Railway, Ltd.
- 1 Convertible Geld Notes
Due 1927
Total Income during
last five fiscal years
equivalent te a yearly
average of ever 2y2
times fixed charges.
Price yielding about
7.70
Circular en rcqucit
The National City Company
Philadelphia U17 Chcitnut St.
Atlantic City Chalfonte Bleck
1223 Boardwalk
m.
n-jy,w.v "
warn
jmb!v;w r
BULL ENTHUSIASM
.,jX-
L
.&
'T W
Dealings en Enormous Scale as
Interest Shifted te Dif
ferent Groups
rywMrwwrvy
Why Take Chances
The rising prices of Invest
ment Bends nrc proof that it
in possible te incst safely and
wisely in these bends and at
the same time earn profits.
We solicit inquiries and orders
for investments.
SEND FOIl OUR l.IST OF
HKCOMMN.VD.VTIONS
SCHIBENER,
BOENNING
&CO
INVESTMENT BONDS
j 1615 Walnut St., Phila.
j Ittmbtra rhila. Stock Exchangi
Bell, tarttst "l0 Kcj stone, Race 3388
JBSEBB3BBESBSL
New Wlc, April 12. Dealings In
today s Meck market continued en nn
enormous scale with tlie trading bread
and active. The only noticeable change,
which is always mi eutMnndlng feature
of all major bull movements, whs the
Riming ei activities from clocks tiint
bad made substantial advances te
ethers that have n long way te go be
fore they are en the sonic level as re
cent market leaders.
A fresh Impetus te the forward swing
vtns supplied by the further relaxation
of money rates, call leans casing from
I i l 4 per rent. Knsitig of money
conditions, however, was even mere
forcibly exemplified in the decision of
the Trenwury Department te make the
new certificates of Indebtedness offering
nt the rate of J1W. per cent. This is
the lowest efTerlnc put out since the
latter part of 11)17. (Juite as Impor
tant ns n bulish factor were the pro
posed tailff changes, which surely build
an i almost Insurmountable barrier
again-.! cheap Kurepcan poeds.
The extraordinary activity was main
tained throughout the forenoon, and
there did net seem te he the sghtet
diminution of the bullish enthusiasm,
, ler as one group showed signs of hel
j tntleti .inethcr was taken in hand and
i um-ii iiiievc previous mgii tignres of the
j car. The small irregularities which
were registered in different parts of the
list .iiffieed te put the market as a rule
In better technical form.
I hum-tie oils were the opening fea
tures of strength In response te further
advance in prices of refined products,
while the foreign oils, especially the
Mexican shares, were tinder persistent
pressure. Leadership later switched
te the eeuinments. American I'm- nn,I
Foundry heading that group with an i
mivuncu ei nearly .; points. Othei
equipments', especially Baldwin. Amer
ican and I.lnui Locomotives, Pullman
and New Yerk Air Ilrake, were out
standing features at I te a point gains.
Uectrlc Storage Ilattery rose !.;.
points nnd meter specialties. Including
rubbers, were appreciably higher. In
dependent steels were represented b
Crucible. Colerado Kiml ltnMi,r
Vanadium and Xevn Scotia at 1 te 'j
point gains, vxoeluorth featured the
chain store issues, rising points en
ucci.iraunn ei an extra
dividend.
"
w. ..
I' 1
Mr,; J
E. H. Rollins & Sens
rounded irte
Investment Bends
1421 Chestnut St., Philadelphia
rhene, I.nruet 7300
Bosten Xew Yerk Wllkcs-Uarre
Baltimore Chicago San Francisce
Ft of all Federal Income Taxes
Charleston, S. C.
Direct Obligation
412 Bends
Due January I, 1962
Optional January 1, 1942
Price 99.75 and Interest
Te Yield
4.50
Descriptive Circular en request
per cent
Commodity Markets
GRAIN MARKET
Chicago. April 1L The wheat mar
ket advanced ' ve te nse at the out
let today and early ruled firm en cov
ering due te firmer cables than ex
pected and further private crop com
plaints from Kansas. The Liverpool
market opened '2d te -lid lower but
rallied and closed with net gains for
the day of 'd te Jd.
Cern opened unchanged te 54c higher
and developed a Urmcr tone in sympathy
with wheat and en small receipts
Oats were quiet but steady with nar
row price changes.
Previsions were easier with hogs
which were ten cents lower.
Wheat
May
July . .
beptmbT
Cern
i.Mav ...
I July
1 September
Oats
, May . . .'
July .
.ptmber
me
Mm ,. .
September
July
l.aril
May
Julv .
September
Uld.
et. close Open 11AM
. 1.31 1 aiVl.32'4 l.MU
!.-! 1 i-ii' ui "OK 1 .ui
1-1 t-V 1.144
63i
r.n
03.t
C5
B3S
.17'i
4i)V
..10 31
..11.17
40'4
4J
1.02
till'.
11 in
II 30
ff 37
1.15H
B3S
ni4
10.07
Rill We own and offer
I II MvfrAfflnlifnn Frlienn
II On, 1US2 HI
III "' 98?1 I'
I 1 nun rn r.n Sr v
llll Electric ,.
Illl ', ion il
t 95 ill '
II All tax free In IVnnn. I
III WlOINM Bifid.. PHILADtLPMIA 111
I Mtmhn riitiJrlfHU ;J '"
L AV Yri Suet Luttwpi
tl W" cumrrw, 11 1. iB)
COTTON MARKET
New Yerh. April 1:2. The cotton
niaiket opened 1 te 5 points lower, hut'
I the tone was steady, considering clear!
weather ever the belt and noer cabin '
Husiness was much heavier than it ha j
been at any time In some days, ami In
! eluded Wall Street, spot houses and !
' (pin StmiMi na enllnfa .lennnAUA iii.ni.nulj
local traders and commission concern
bought. After the start, the list acted
fairly steady at n point or two under
initial figures.
The Heard of Managers has decided
te close the exchange en April "l'. in-
1 stead of April 111. te faiilitate the
1 movement of the exchange cipiipiucnt te
tie- temporary quarters at PU-lMi Wall'
street. 1
Receipts nt the ports for the day arc
estimated at 1.1, (Mil) b.iles. against' Hi..
I.'Jtl bales a week ag", 1."..."Mt! bales ,i
jeur age and 1 tl. lis 1 bales two jears
age.
Mnv
Ju
1 i.ri,lji
I'm ember
JhiiUiii .
rreWeun
riesy Open
. 17 7.1
. 17.31
. 17 10
17. Ill
. 17 Oil
17.70
17 7
17.12
17 ID
17 iju
1 flfl
1. M.
17.71
17 3d
17 17
I V J aV H I k I t2s
I
Safe Investing
is mainly a matter
of knowing where
te buy your bends
Frederick Peirce
BONUS JP " INVKST
FOR Ot VO. MUST
1421 Cbeitnut Street, rhlladelpbla
GEO. A. HUHN.& SONS
STOCKS AND IIO.VDS
?fcltb"',J',I!l,e I'I'IIikI'IpI'Ii, New
rk nd Chlrwe Sleck EichaniM
Nw Yerk Cotten Kulmnre
Commltilen Order Executed In
All the Principal Market!
Llfeerty Bend Bought and Sold
eilesnn Court Bid.. 1418 W.loet H.
N. V ill Breadwer
.feri, JSacen "avie
JattrpentO
ltmMik4 itH,
n,erinlitlen et eiinrleliced Endnxr-
Ins end Mentnement Speclallnu. In
uellfl utility and Indulrll I!uliieii,
1421 ClIEaTNUT HTItKCT
k , i'iui-Aut:i.riiiA
B1I Telcrtinn! Spruce e2
Hw Tork cfhlcme Han Krancltoe
ickwell'
HaiBmilC'4'l
CERTIFIED PUBLIC
ACCOUNTANTS
1
WntklUf.,PU.
NEW YORK COFFEE MARKET
New Yerli, April U.-Shaip ml-
tanie.s In the Hie and Santes futures
market thl 1 morning and the dwindling
of the local stuck caused aethe buying
, lu the near positions at the stm't 0f
the local coffee futures maiket today.
, First prices were 11 te IT points net
j higher. May and July crossing the 10-
cent level.
It wns pointed out. today t lint the
' early positions were virtually cornered,
but It was net believed that any at-
' tempt would be made te force extreme
! prices, Aieund mid-day, the early
'bulge attracted icallzing and prices
1 eased off I! te .'! points. Cost and fi eight
offers were ugitin heie en a higher basis.
Ye.-tenia. Itie .'Is w'cre eflerrd, cot
and freight, nt 11. .15 cents and in reply
te a cable that the pi lie was tee high,
came back .it ll.M), Itin "s were quoted
at in. CO lentf, but net Mrinlj offered, as
the uinikci wab tee strong.
I'rv I'liwn Open
My . . l.!Mur le 11(5 10.13
Julv .. . OSHils.", '.lU'lfrlOOl
Militeilllifl .. . II SHO.VI 1l,7.11r (1,7ft
' I. cimtei . ... (1 ftr.'S'iil u 7eil 0,71
DIVIDENDS DECLARED
New Yerk nml Hemlur.iF Jte-nrin MInlrc
Company, iiuurie. ly 2'a pfr 'nt paable
tVI'lll a" (' 1,"lt .1. I'lWI'l .Jril 111,
utlerml Him uii Cenipun 'iiiarterly 1
PT cent un cuiiimun .liiii ir'rerieii Ceminer,
m iMjabV July .". te iejk ut rrerd JUi! se
end iTeferrctl May 31 tu tuck uf reierd
1'ikkI' Wisely Sterei, Inc , quarlerly tl
nn t'iuH a merx. pdyauie June I te stock
U, ICUI'I ,... au.
Iluinn riruii. (Jempany. 50 cent en clauVA
(niitmen, In aildltlun te iiuurterly et ' en
riaim a common, ei .hi cr.t en c!k U
1 ijiijiiieii twiu ui , ,j uii uruir iir.r.T.ni..
Tlw tlUMeiul en prier pr ferenee Is puyahu
May 1 te metk et record April 21. and en
A und II common enares, May IS te ateck
of retold May 1.
1'entum Cereal Company Initial of tl 5
en common and of $2 nn neferred. l.eth paj.
able Mjy I te tock of record April 21.
t'nlen Tank 'ur Company, euftrlcrly $1 7S
nn common nnd preferred, both Payable June
1 te eteck of record .May ft.
Yelle' CM) Company, tnree monthly d'v
Idends of 33'4 cent", puyable Iv j, June 1
Hnd Julv 1 te terk of record April 2n, Mav
20 and Jul') 2d. repectlel
Yellow Cat) Manufacture Company threw
monthly dividend, cf ftO centii pnnbl Mav
1, June 1 anl July l te Meck of record April
ill May 20 nnd June 20. Iil-ctlv-i.
Durham Henlery Mills, euarterly 1 per
. cent en preferred, payable) May 1 te aleck of
icicerd April 20.
! BANK CLEARINGS
Hunk clearlniM today compared with cor cer cor
reiendln day Innt two jeura;
1(122 11121 1020
rhila. .,7a,OdU.U0O S71,ll3M,2e7 83,Bux,)2(
N. Yerk. 707,1100,000 Bfl,44S,2tS 8ni.2IO.ttN7
NEW YORK STOCK EXCHANGE TRANSACTIONS
J)lv.
In t STOCK lllh
.. Adams KxpreM .... 66U
.. Advance ltumely .. 18J4
3 Advnnc Ttutnely pf. 50
.. AJax Hubbtr 17 J4
.. Alaska Juneau O M 1 Vt
4 Allied Chem A Dye. 68 U
4 AltlR.ChAlmer 49 'A
7 Allls-Chalmers pf . . 93y4
.. Am Arlc Chcm .. 40 H
. . Am AktIe Chem pf . 68
..' Amcr Beet Sug-ar. .. 41 Vt
.. Am Beach Magneto. 48?i
4 Am B Shee Fdy new 61 Vt
.. Am Can 49 Ji
7 Am Can pfr 104
11 Amer Car A Fdy...162H
..Am Chlcle 12
.. Am Cotten Oil .... 2654
.. Am Cotten Oil pf.. 56 yi
. . Am Drug Syn .... 6
.. Am Hide A Leather 1614
. . Am Hide & Lcath pf 71 Vz
7 Am Ice 107
5 Am Ice pf 0
.. Am Internat Cerp.. 47'4
1 Am-La France Eng 12
.. Am I.lncecil 34 V
.. Am Linseed pf .... 56 H
.. Am Locomotive . ,.IH'S
7 Am Locomotive pf. . 115
4 Am Badlater 88.
. . Am Safety Razor . . 8"H
.. Am Ship & Cem .. 15U
.. Am Smelt 59 V
. . Am Smelt pf See A 93
3 Am Steel Foundries 39
7 Am Steel Fdys pf . . 98!i
.. Am Sugar Bef .... 75 !
7 Am Sugar Itef pf.. 98 yj
.. Am Sumatra 32
0 Am Tel & Tel 120U
12 Am Tobacco 140J
12 Am Tobacco B . ...136K
.. Am Waterworks .. 12H
.. Am Watrwks 6 pf 3214
7 Am Woolen 90 H
. . Am Writ Paper pf . . 36'2
.. Am SCIne Lead ft S.. 16?4
.. Am Zinc Ld A S pf. 42
.. Anaconda Copper.. 53J4
. . Ann Arber pf 45
.. Assets Realization.. 1 ?4
6 Asse D Heeds 1st pf 81
6 Astse Oil 113W
6 Atch Tep & San Fe 98 H
.. Atlan Blr & Atlantic ,3Ti
7 Atlantic Coast Line 98 V
.. Atlantic Fruit 4
.. Atl Gulf & W I S S 33!4
.. At O & W I S S pf 24
.. Atlas Tack Cerp... 21 H
Austin Nichols.... 264
7 Baldwin Locomotive 1 17 H
C Baldwin Loce pf . ,109
.. Baltimore & Ohie .. 46?
4 Baltimore A Ohie pf 6014
7 Barnett Leather pf. 89 ft
Sales
200
1000
500
6800
200
2800
1000
100
100
500
900
900
100
1400
300
600
200
100
100
200
1700
900
300
200
8800
200
1200
100
93O0
100
600
400
3100
2000
100
?500
600
11000
100
200
900
1500
800
600
400
6500
.900
100
100
6200
100
300
400
500
600
2400
200
20300
1200
100
1200
1200
13500
100
8000
tee
400
5200
4000
300
7000
100
1 1C0
700
tee
1200
6403
2200
100
1100
10)
200
2400
700
2100
500
600
1400
2100
3800
1200
100
6100
350
4103
3200
1200
100
100
500
1500
3900
400
2900
1500
9600
400
2800
GOO
300
1930
1600
300
100
1100
900
200
D100
200
100
100
600
4030
1400
3200
5R700 ;u Cosden A Ce.
6400 .T Crucible Steel
300 7 Crucible Steel pf..
2700 .. Cuban Am Sugar...
2600 .. Cuba Cane Sugar.
5600 .. """uba fan Sug pf. .
1700 .. Davisen Chemical..
Uarnsdale (A) 48
.. Barnsdale Class B.. 36(4
6 Bethlehem Steel.... 764
5 Beth Steel B 79?s
7 Beth Steel 7ri pf.. 95
.. Beeth Fisheries.... 6?i
.. Brit Km Steel 12
7 Brit Km StI 1st pf. 74'4
.. Brit Em Steel 2d pf 29'i
. . Bllyn Rapid Transit 23
. . Bkln U T ctfs of dep 21 'i
.. Brkbn Union Gas.. 94
. . Brew n Shee 50
7 Brown Shet; pf 92
R Burns Bres A 128
i Bums Bres B 40
.. Butte Copper A 7-lnc 5?i
.. Butte & Sup Cep.. 29?4
. . Butferle't Ce 30
.. Cadde Cen O ft R,.. 14
6 California Packing. 77 1i
.. California Petrelm. 5614
.. Callahan Zinc & Ld 714
10 Canadian Pacific. .. 141 H
7 Case J I 1st pf . . . . 7814
.. Central Leather.... 40H
.. Central Leather pf. . 73J
.. Cerre-de-Pasco .... 37 H
6 Chandler Meters... 7814
4 Chesapeake ft Ohie. &Vz
.. Chicago ft Alten... , 9
.. Chi ft E 111 (new).. 23 Vi
.. Chi &L' III (new) pf 44H
.. Chicago ft Gr West. 8J4
.. Chi ft Gr West pf.. 23 Vz
.. Cht Mil & St P 24H
.. Chi Mil & St P pf.. 41H
5 Chi ft Northwestern 74(4
.. Chi R I ft Pac 4614
7 Chi HI ft Pac 7 pf 96
.. Chile Copper 18?i
.. Chlne Copper 29
.. Cluett-Peabody .... 54 '
4 Coca-Cela .. ....... 4914
. Cole Fuel ft Iren.. 33 ?4
3 Colerado ft Southern 4814
4 Colerado ft Se 1st pf 61
C Celum Gas ft Klec. . 64Ji
.. Celum Graphopheno 34
.. Cel Graphophene pf 1514
4 Cemput Tab Rec... 75
. . Consel cigar 28
. . Conbel Cigar pf. . 60
Cnnsnl Ills Ins.
7 Consolidated Gas... 1 10
.. Consel Textiles.... 13?4
rvintlnantal Can.... 68
4 Cern Products Ref.l03H
?
1002.36 Pelieers c Mln Ltd.
100
100
400
100
159
000
200
500
2800
1600
200
6300
200
100
1000
100
4800
700
100
3100
700
500
7200
100
4C0
100
5500
300
200
200
39 W
66
87 !j
2314
16H
36 H
64
2014
9 Del Laelc ft West..l15
. 255,
. 25
.750
.17514
. 29
. 84 H
. 1314
. 21 4
. M14
82 H
S Detroit Edisen
1 Pome Mines
2 Durham Hosiery.
10 Eastman Kodak..
12 Klec Storage Bat.
.. l.inersen-iirani pi..
5 Endtcott-Jehnson ..
. . Erie
.. Erie 1st pf
.. Erie 2d pf
e Vnmntin Players L.
S Famous Players pf. 96 '2
4 Fed Mln ft Sinn P' J3'J
10 F'sher Bedy...... 1'3i
g rishcr Bedy of O pt 95
.. Fisk Rubber 1714
. Freeport Texas 16t
. . Gasten Wms ft Wis H
.. General Asphalt... 66
6 General Cigar "
g General Electric. .. 163
.. General Meters.... 13
6 Gen Meters deb 6 79
7 Gen Meters deb 7 93
.. Gllllland Oil pf 75
.. Goedrich B F...... 41
7 Goedrich B Fpf.... 86 t
.. Gray Davis 19 H
r rirent Northern P". . 744
3800 4 Great North Ore ctfs 45
700 .. Greene Cananea Cep 29!,
-nA Ciuanvunaiii" w-n" --
:X u.iif Mobile ft Ner.. 11
1UU
100
5900
1600
100
400
1500
1200
300
100
100
300
400
1700
2700
2030
i00 ..
-00 2Vi
100
6200
5600
Toe '7 int Motertrk 1st pf 80 ?&
en 7 int Motertrk 2d pf. 74
,5M . international Nickel 17 H
3400 international Paper 497.
200 6 Inter Paper Pf tpd 68
.SXX invincible Oil Cerp 18,
34
V
20
67(4
38 Yx
6
2714
5714
48 H
18?i
74!4
8014
17H
84
107H
3!4
7
Guantanamo Sugar
"" Gulf Meb ft Ner pf ?9'4
Gulf State Steel. . 8514
". Hablrshaw El Cable 2H
Hendee Mil? 10...
'3 Homestake Mining
. Housten Oil
Hupp Motorcar...
". Hydraulic Steel...
'7 Illinois Central....
indlahema Uef. .. .
'" imiiin ReflnlnB...
" inspiration Cen Cep 42
"3 Interb Cen Cerp... 3J4
Interb Cen Cerp pf 9
'2 Inter Comb Eeb ... 28
.. internal Agrlcul.... I! 1
u. mt Cement
'I Int Hancster new. 96J4
Int Mer marine.... - '
6 int Mer Marine pf. 80b
?ter"L1.. u ", r 55 il
1900
2300
400
600
500
3700
1200
200
9000
500
2300
9200
Iren Products
Island Oil
Jewel Tea
Jewel Tea pf
Jenes Bres Tea....
Kansas A Gulf....
Kan CUT Southern.
Kan City Se pf....
vi,iiv.ciner Tire
Kelsey Wh-el 1?
Kcnnecett Copper.. 31 U
Keystone T A U.... 19
l.ew
65
17
49 H
16H
. '
67H
48 H
9314
40 H
68
40
47 H
61 J4
49(4
104
161
12
26(4
56(4
6
15J4
70
J07
79 V
46(4
1174
33
56 U
112
115
86
8H
15
58 K
93
38 K
9714
7214
9814
3214
120(4
140 ,
136
12U
31 H
88Va
34
164
42
53
45
1'i
80 '4
11314
98 4
3'i
98
4
33
24
21
2311
1161a
109
45 i
60 !4
89
45! 4
35
75 '4
79U
95
614
11
74'j
27
21 i
20
94
49
92
127i
39
6i
20S
29.VJ
13'4
77 14
55 ?.
6J4
140H
78'
39 H
73H
3614
77 H
64 Ts
9
23! 4
44
8i
22 n
24J
4014
73'4
45 Ti
95 '4
18
28 ft
53
49
3214
48
61
84
3!4
1514
74 !,
27
60
109H
13'i
67
103
37 'i
64
8714
23
15H
35
63 14
:0!4
115?
10614
25
25
745
171H
27U
83 H
12?i
20 H
1414
81
96
39'i
113
95
16i
1614
65 4
73 !4
162
12S
79
93
75
39?4
8G
19H
7414
43 Vt
28
112
11
2914
83 4
2'4
10?,
73J1
79 Ji
17?.
B
107
3(4
6
41 ?4
3(1
8'4
27 H
11
35
96
18H
78(4
38)4
80 1
74
17
48(4
67)4
18K
32
94
20
664
3814
5H
27
57U
47
10Q
31
17H
1:80 Nt
P. SI. Cht.
66 1
IB -f-50
17(4
1(4 .
67H
48 .
93y4
40 H .
68 -41(4-?'
47
61 49H-
104 -f-
(4
1
(4
'V4
'(4
''
(4
(4
162 2
12
26(4 H
56(4- !
6 - (4
16(4 H
71(4 1(4
107 - (4
79(4- 1
47(4 1(4
12 14
34 - U
56 ..
114(4 2(4
115
88 2(4
(Hi 4- 1.4
ID
58 -93
38
9814
7554
98 (4
3214-
12094
140
13614
r
9314 -r
36
16
42
53 -45
114
80H-
113'4-98(4-3!4-98
4
33 -24
21 14 -2614
117
109
89
4514 4
2594 r
75(4-
794-
95
694
74(4
1
'i
2
v
"1
14
1
1
4
" ' 54
(4
(4
1
i
54
1(4
1
Dlv.
Sales 111 t STOCK lllsh
32 . 6 Krcige S S 139
4100 .. Lackawanna Steel.. 56(4
100 .. Laclede Gas of St L 6i
tea .. Lake Erle A W pf 32(4
3400 L0 Rubber Tire ... . 344
3J00 3 Lehigh Valley 63?4
2100 7 Lima Locomotive. .. 114
100 7 i,ma Locemotlvo pf113
300 .. Ioewc Ce WISH
500. 1 Left Candy 12K
1100 .. Loese-Wiles nineult 4fiW
12 Ixrlllard Tobacco. .150
7 Louisville A Nash.. 113
76 Mclntyre new 19J4
.. Mall Insen A Ce 22
7 Mulllnsen Ce pf. ... 84J4
.. Manatl Sugar 49
Manhat Flee Supply 59
7 Mnnhat Elev Ouar. . 44
2 Manhat Shirt 39(4
.. Market St Rwy.... 9
. . Market St Rwy pf . . 47
6 Mar St Ry pr pf.. 63
. . Mar St Rwy 2d pf.. 30
.. Marlln OII 2854
2 Martin Parry 29J4
.. Max Moter clasa A 65
.. Max Class B 20(4
8 May Dept Stores. . 120 y
12 Mexican Petroleum 134 (4
2 Mfnml PAnn.. fsaix
!em,,2 l!d,dl0 'wCerp'. 14(4
2000 ,, M dvaln C(,l u
Minn ft St Loul 10(4
M St P&SSt MLh 63 J-4
. Me Kansas A Texas 8
. Me Kan A Tex fwl) 14 54
. Me Kan ft T (wl) pf 35
. M K ft Tex 1st rw.. 17
. M K ft Tpf 1st aw.. 16
. Missouri Pacific.... 24
. Me raclfic pf 58
3 Mentana Power... ,7154
7 Mentana Power pf. 104
. .Aient ward ft Ce... 19(4
. .National Acme...
7 National Biscuit..
. Nat Cen ft Cable.
Nnt En ft Stamp.,
e Natlennl Lead
7 National Lead pf . .111
. .-NatRRofMexlst 1154
. Nat R R of M 2d pf 5
. Nev Cen Copper... 16
6 N O Tex ft Mex.... 65T4
. V V Al n..i. tc
New Yerk Central'. 88
200
100
4300
2200
100
600
1100
1700
400
100
100
1300
500
500
2400
100
100
1500
10200
1400
800
100
400
2300
300
1600
200
1200
2000
4500
100
300
100
200
4600
400
300
200
200
1500
2600
200
1300
900
. 1654
.13554
. 3
36
91(4
200 m New Yerk Deck...! 32(4
1)4
1(4
1 V2
284 214
23
21 (4
94
49 -92
127 94
40 6
30
1394
7754 56(4
6T.
140 -
78'
39?ir
73-
37
77 -
65
9 -
2314
44 -
8 1
23 f
?44 -40
J, -73
!4
45J.
96
18 -28
53 -49
33 !
48!4
61 -8414
34 f
!4
28 -60
!
109 -13)4
-67J4
104
39 4
65 !4
87(4 -2314
16
614
(i
11594
106J4 -25
25
750
174 94
29 -84
14
12T5 -2094-14
82 -9fi
14
3914-
1131-4
1(4
1
:- 1
1
14
;- 1
6600
2100
1200
100
100
2400
700
100
2100
100
100
1900
1930
100
200
.18700
8400
1900
303
7500
4000
6200
1000
1000
500
100
700
100
3700
2100
800
600
100
100
9600
200
New Yerfe JC H A H 21
2 New Yerk Ont A W 28
7 Norfolk ft Western 10574
3 North Amer ctfs... 56J4
3 N American pf ctfs. 42(4
6 Northern Pacific. . . 76(4
. . Neva Scotia SAC. 33
. . Ohie Bedy A Blewer 12
. . Okla Pred A Ref... 2(4
.. Ont Silver Mining.. 7
5 Otis Elevator 134
.. Otis Steel 16
2 Owens Bett Mach.. 33
6 Paclvc Gas A Elec. . 68
. . Pacific Mall 15
.1 Pacific Oil 58
6 Pan-Amer Petrel.. 64
! Pan-Amer B 5794
. . Panhandle 8 54
. . Parish A Bingham. 17
2 Pennsylvania R R.. 42
. Penn Seab Steel... 11(4
5 Peeples Gas Chicago 85
. . Pere Marquette. . . . 29J4
B Pere Marquette pf. 6714
6 Pcre Marq prier pf 7554
3 Philadelphia Ce.... 3914
. . Phllllps-Jene 91
2 Phillips Pet 37
. . Plerce-Arrew Moter 20,'i
. . Plerce-Arrew Met pf 42
.. Pierce Oil 914
8 Pierce Oil pf 53
7 Pitts Steel pf 89
. . Pitts ft West Va.. 3414
0 Pitts ft W Va pf.
1000 114 Pend Creek Ceal..,
ejy2
17
78(4
28
600 . . Pressed Steel Cur.
2700 .. Producers Refiners.
300 6 Pub Service of N J 85 4
2100 8 Pullman. 125
5100 .. Punta Alegre Sugar 4014
6400 2 Pure Oil 34 14
100 8 Pure Oil nf 102
600 8 Railway Steel Spg.100
100 .41 Rand Mine 25(4
3100 .. Ray Cen Copper.... 16
5200 4 Reading 70 !4
2800 .. Remington Typewrlt 3694
100 .. Rem Typewrit 2d pt 55(4
100 .. Replogle Steel 3414
5100 .. Repuh Iren ft Steel. 58J4
100 2 Rep Iren ft Steel pf 81(4
300 .. Republic Meters 7
1 600 . , R T Reynolds Teb t 46
H 100 .. Rebert Rels ft Ce.. 17 J
iuu . n llels & Ce 1st nf 69
' 117005.20 Royal Dutch N Y.
1 ht Jeseph Lead. . .
si i.euis san Fraa.
Uj
14
in
154
!4
1
H
1
54
1
' !4
5
4
1
54
94
Vt
(4
54
200
1200
200
1000
300
2400
1400
2030
400
St L ft S W R IT.
Santa Cecelia Sugar
Saxen Moter
Seaboard Air Line. .
Seab Air Line pf . .
Searn-Reebuclt ....
Seneca Cep Cerp...
900 314 Shell Transport.
24
54
4
ii
1
54
54
(2 !
' ? !
1!, 1
1?.
Mi
1714
16'i-
4
654-
74
163 -J-
12-
79 -93
75 -40(4
80 54
194
7494
43(4 -2954
124
11
2914
65 54
24 -r
184
174-
8
107 3IJ -
6
42 r
3V4-8-27
4
114
?3 -96
194
80 1
3854 80 Vt
74 -1714
.9J4 154
6754- 94
1894 ..
32 f- 54
7a
20 -? 14
6754
38
-57
54 r
48(4 109)4
31
18(4
14
1
M4
4
(4
!4
Vt
14
1
25300
500
2030
1300
1600
1100
1200
300
1300
2500
32200
100
100
300
600
300
1100
9500
2400
3800
6900
10J
200
1300
100
800
1200
3100
100
300
5300
900
400
?00
700
3400
800
800
1003
200
170'J
800
1600
13500
100
800
13900
tee
100
2300
300
3500
200
100
100
1100
300
800
100
400
2j0
100
2900
1400
2500
600
100
1800
4200
12300
1100
2300
200
1200
100
100
800
1200
200
64
134
30(4
30
514
414
7
124
7514
1414
45
264
454
90
234
5514
Sinclair Oil
. . Sless-Shefteld
6 Southern Pacific. . . .
. . Southern Rail
. . Southern Rail nf . . .
4 Standard Oil of Cal 97 4
5 Standard Oil of N J 178 14
7 Stand Oil of N J pf 11494
2 Stewart Warner Spd 41
. . Stromberg Carb.... E95.
7 Studebaker 122
7 Studebaker pf 10994
. . Superior Steel 37 54
. . Superior Oil Cerp.. 594
. . Sweets Ce of Amer. 4
. . Temt Cern A F "A" 2 54
. . Tenn Cep A Cliem.. 12J4
3 Texas Ce 46
. . Tex Gulf ft Sulp.. 434
. . Texas ft Pacific.... 34
1 Texas ft Pac C ft O 28
Third Ave.
. . Tidewater Oil
G Tobacco Products..
7 Tobacco Pred pf . . . .
.. T St L ft W ctfs B.
. . TStL&Wpf cfsB..
. . Transcem OH
4 Transue Win Steel.
i 12
120
64 4
89 54
2914
, 4414
94
43
6 Union Bag ft Paper b3!4
.. Union OH 1914
10 Union Pacific 13674
4 1'nlen Pacincpt.... 734
.. United Alley Steel.. 34(4
8 United Fruit 143
.. United Rwy Invest. . 19
.. Unit Rwy Invest pf. 3514
6 United Retail Stores 48 ?
.. U S C I P ft Fdy.. 37
D U H O 1 P ft Fdy pf 6814
.. L S Feed Preducla 5J4
.. U S Ind Alcohol... 47
..US Realty ft Imp. 6514
..US Rubber 65 4
8 u s ituneer 1st pf.. 106
..US Smelt ft Iter. .
r. U S Steel
7 U S Steel pf
..US Tobacco Ce
2 Utah Copper
.. Utnh S'ec
. , Vanadium Cerp. . .
.. Va-Car Chemical..
fi Va Iren C ft C pf . .
7 Van Raalte 1st pf.
. . Vlvadeu lnc
. . Wabash
.. Wabash pf A
. . -Wabash pf U ..... . 20 14
1 Weber ft Hellbreucr 13
.. Western Maryland. 10(4
.. W Maryland 2d pf. 19
.. Western Pacific... 224
6 Western Pacific pf.. 6294
4 Westing K ft M.... t34
.. Wheeling ft L J3 9
.. wneeiing & u I. pf Z04
28 4
9914
1174
. 45
, 67
, 16
1 44
35J4
7114
. 94
, 11
, 9
.3 1 fl
4 Whlte Moter
. . Whlte Oil Cerp....
. . While Oil itn
. , Wick Kpenc St Cerp
. . Willys-Overland . . .
, , Willys-Overland pf,
. . Wilsen ft Ce
7 Wilsen ft Ce pf....
. . Wisconsin Central..
8 Woolworth F W
44
10
54
16
8(4
39
424
82 J4
29
1644
4 Worthlngten Pump. 53
C Werth Pump pf B.. 72
Lew
139
544
62
32 !4
33
62
112J4
113
15(4
- 124
48
150
115
19(4
2254
8454
48
5954
43
38
9
47
62 Vi
27
28
28 4
65
20(4
119
13254
29)4
1454
35
9
63(4
7
14
,33
17
16
24 54
5754
6814
104
1954
16 4
135V4
24
36(4
91 (4
111
1154
514
1594
65 4
73
87
32(4
2014
27
105 54
564
4254
76
32
12
2
74
134
16
3254
60 94
144
574
63
57
8 54
1554
42
11
84 54
29
67 54
75J4
39
91
36
2014
4154
9
53
8994
33
83
164
78
27
8514
123 54
384
33
102
1005.
255.
1594
77 4
34 54
55 V,
34 54
57 54
8114
74
4594
17
69
63 54
13
29 94
30
4!4
4!4
6,4
114
7494
1414
45!i
254
45
89
23
55
97
17514
114
4094
58!.
11994
109
37 '4
5(4
4
2!4
12
45
4294
34!4
20
21 '4
120
64
89!'-
284
4194
9
43
63 4
184
136 54
7354
34 54
142
17
35
48 54
3614
684
4
46
64 54
63
106
38
98 54
117
45
66 54
16
434
35
714
94
1094
9
31(4
20j;
13
10J4
19
224
61(4
62
9
204
434
10
(4
164
8(4
38
4114
82J4
29
16254
52 54
72
1:111)
T. M.
Net
Chce,
139 54
1 S6J4 154
62 - 54
, 3254 ..
34 1(4
i 62H- 154
1 1134 1H
113 154
15(4 ..
, 124 ..
484 4
1 150
115 - 1(4
i 19
, 22(4 .. .
8454 4J4'
49 3
59 54
44(4 54
39 '-
9 - 54
47 - 354
6254 - 54
28(4- 2
28
1 29(4 Ti
65
2054- 54
119 54
, 133
, 2954 ..
14' ..
, 354 54
9-
6354 -r-54
84
1454 54
35 -
17- 54
16- 'A
2454
57(4-
7154 354
1 104J4
19 54- 54
1614 ..
1355-4 1
3
36 '
91 54 - 54
111 - '4
1M4M-
5
154 4
654- 4
753
87-
3254 54
21 54
27-
1054 4
564
4254 4
76-4
32(4 2
12
2(4 ..
7 54
134 - 1 14
16
3314 1(4
68 4
15 . 94
574
64 ..
57(4 ..
84
16 1
4254 ..
1 1 (i - 14
84 54
294 54
67 54 !4
75(4 2!4
39 - 94
91 1
3754
2014 ..
42!i - 54
9 54 54
53 1
89- 114
33 4
8314
164 - 4
784 1
28 M4
85- 4
12454 1
4054 M4
3414 54
102 4
1004 4
25 4 54
1594 !4
77-
364 14
5554 - 254
34 4 4
57 54
8154 ..
7 ..
4614
17 - 1
694
64 54
134- 54
, 29- 54
30- 54
554
4(4- 4
64 ..
1 14 -
73 54
14(4 '
45
26 4
454- 54
8J-
23 ..
55 ,.
97 !4 54
1774 24
114 ..
41
58
120(4- 4
109
37 54- (4
5 (4
4
2!i ..
124 4
454 !4
42 - 14
34 1- i4
28 4
21 54 -- 54
120 (,
644 1
89 54 - 14
, 294 94
' 4414 34
1 94 ..
432
1 6354
' 194 4
, 136- 54
' 73- 4
: 34(4 14
143 - Si
; 184- u
35 -
48-
36 "4 X 1
6854 4
4 - 3.
464 14
644
65 -f- ja
106 2
W 38 I , a
117- jj
45- (J
66 14
16 94
434 9j
354- 4
71 4 -r ,(1
94 -J- 3i
104 .'4
J
314 4
204
13 -f. 14
104-
19 14
62 24
bi f- 54
94- (J
44 9. 94
! - 54
164.1-
8- y.
38- 2
424 14
82421?
162 544V 4
524- K
72
P. X. DIVIDEND 10
BE MADE 8 PER CENT
Electric Storage Battery Sears
Again tera New High
Recerd
Ex-dividend.
Official announcement made te the
stockholders of 'the Philadelphia Elec
tric Company at the annual meeting to
day that It was the Intention of. the
management nt the next meeting of the
Heard of Directors te plncc the common
stock en an 8 per cent per annum was
the most interesting neffs development
of the day. This threw bome light en the
recent activity and btrcngtu of the
Bleck.
The annual report showed n net In
come of 14,003,008. an against $'-'.-000.2.T8
In 1020. After deducting pre
ferred and common dividends nnd set
ting nsltle reserves, the surplus carried
te profit ami less was 5077,577, as
ngalnst $011,530. Conditions referred
te In the annual report were generally
known, nnd, ns expected, the proposed
increase in the company's fundeu in
debtedness was ratified by the meeting.
Neither the common or preferred uteck
did much iudlcntlng the events of the
meeting hnd been largely discounted.
In the matter of movement, Electric
Storage Ilattery remained the stellar
attraction, making the usiinl dally, rec
ord of registering 11 new top at 170.
The new sleck also did the biuiic trick,
reaching AVj.
Philadelphia Hapld Transit again
eased off te ,lli en the rejection of
Mayer Moere's, last proposal for leas
ing of the Krnnkferd Elevated te the
1. It. T. The action of the manage
ment came ns n disappointment because
it had been hoped the gap of misunder
standing of this Important question wns
being greatly reduced. Ilttlc change
was made In the underlying Issues.
The transactions in 1'. It. T. were en
a very small bcnlc compared with re
cent sessions.
Continued prelH-tnkliig bccmed re
sponsible for the fractional shading of
Pennsylvania Railroad, but, according
te the beard reports, the market wits
well supplied with buying orders.
Vrntlitig wnB fiulct In the general list.
HuiTule and Husuucliiinttn prefenvd was
up two points from the last sale at
fill. American Stere shares were frac
tionally better. IV (J. 1. en limited
transactions moved up a half te !.".
Lake Superior had geed support at 11.
Philadelphia Stocks
1:1.-.
I.OH- P. M.
ie;i iny-i"
N'rt
ills'.
'1
'-"8
High
..S.I Am Silnrna IIH1.'.
33 de 1st pf.lKOVi 130(i 130VI U
1." de I'd Df.l.'lOVi 130'i lllOU 4- v,
lOfAm Weel. IM8 MM, DO's-fls
iiufAiinremin. e''S riL's
.".OOtAtl & Mr 3?'t .Vi
150 B&STC
pref .... 50 50 50
1001 Cent l.ea. -JO -10 -10
IVitCVr de P. :!7Ia 37 'i :',7.
lOOtChlne Cep 2Sa. 2Sa,
MOElec Ster.170 173
wltt de new.. 44. 4.'l'
!) Fkd & S.2l " 2(!2 "
50CenAsih. IC,'!, tir.H,
H'S'h 4-1
M ' 11
72 72 72 ..
113' 03 03
IeVh 15 15ys
100t(5t Ner pf
inn hk h Cor.
25I.eh Say..
520 I. eh Vel..
lOOfXev Cen.
10 Penn Cent
Light pf. 51
4111 Pa It H.. 42-ii
50tPenn S S 11 c
40 Pa Salt M 73 "
21 Phila Ce
cum pf.. 3S'i
1S02 Phila Elcc 2S
105 de pref.. 20
S30 P It T. . . 32
40tHtudehkr..l21.'.
25tSe Pac SO',!!
IOOfTennC&C 12's
1200 Ten Pel.. IJ
10 Ten Min.. li
355 Vn Tract. 41 1
35 UO I 15
275 de pief. . ,"3'..
20 Yerk Uy.. 22 "
120 de pref.. 30 ia
S-2
2.S0..
170 -hi
44',il
202 44
05 i 14
448
fF.kJUti ..,,-. -,t
' .'. r l t., . v- ''cji' m,.i'js ,
. ,.:,i ...x-AKKk rtr,WtW. i'.
'I ,(' IH-,.JI. ! .-T .il".
mr . - -j-j. '
' j jtrS
M&Wili
y!WSW9jB
Free of Alt Tmxet In Fenn$ylvnlm t th4 CxfcA tt 4 Milt,
Per Dellar Per Annum (Except SueceulSn and Inher
itance Taxee'mnd State Inebme Taxet)
Metropolitan Edisen Company
(PENNSYLVANIA)
First ft Refnndiaf Mertftfe Gelj Benih, Series "B" 6'
Denominatleru, $1000, $500, $100. Due FA. 1, 1952
Territery:
64 communities in Eastern Pennsylvania, including Read
ing and Lebanon.
Security:
First mortgage en portion of properties; direct rqprtgage
en all properties, subject te $2,570,000 underlying (closed
mortgage) bends.
Valuatien:
Aggregate figure, based en engineers' report of October
31, 1920, pjus subsequent expenditures and including
investment insecurities of affiliated companies, $15,350,918,
as compared with total bended debt te be outstanding of
$8,718,000.
Earnings:
Fer 12 months ended February 2.8, 1922, gross, -including
ether income, $2,782,663 ; net, $1,092,088. Annual inter
est en total mortgage indebtedness, $529,240.
Market:
Application will be made in due course te list this series
of bends en the New Yerk Stock Exchange.
Price 98 and Interest; Yielding About 6.10
A circular fully descriptive of this issue will be euppUt
upon request.
HALSEY, STUART & CO.
INCORPORATED
Land Title Bid?., Philadelphia Ptene Leewt 7410
CHICAGO NKW YORK
DETROIT MILWAUKEE
PHILADELPHIA
MINNEAPOLIS
1IOSTON
ST. LOUIS
51
42vA
11 Mi
73
38
27
31 .
120"t
.S0i
I'V
1,
41L.
44 U
53a
30
51 ..
1 .
73 ..
3S',
2S -r
20 . .
31k
12l)a,..
1214
m
i
41V
45
3(1
.
V.
tXct challlt inarin hv (.nmnarlkiin ...Itli la.i
sale un New Yurlt Stock KxvtiHnce.
I'IIIKI)KU'1II.V IIONDS
43000 Liberty
U4000 Liberty
25(K)0 Liberty
15000 Liberty
20000 Liberty
1750 Liberty
1000 Liberty
50000 Llbeity
75000 Liberty
3000 Liberty
WMMH) Liberty
1000 Liberty
KMH) Victory
MKKIAiii (las
.'00(1 Am (ins
As Rails Improve
De Yeu Knew Which
Are Best?
A general tendency toward betterment does net
necessarily mean that an investor should cheese
indiscriminately from a list of railroad obliga
tions. Improvement in the position of railroad securities
should determine the investor te make certain
which are really the best purchases.
In all fairness te yourself, first obtain a detailed
analysis of the leading railroads and their secur
ities. Our statistical organization has prepared
an exhaustive report covering the various rail
road securities and we can advise you which re
turn the highest yield compatible with unques
tioned safety.
We will gladly consult with you upon request.
BROOKE, STOKES & CO.
Member Philadelphia Stock Exchange
140 Seuth Fifteenth Street
Philadelphia
734 Fifteenth St. N. W.
Washington
102 St. Paul St.
Baltimore
1000 Klec & I'een 4s.
200 Klec & I'eep 4s...
1000 Klee & I'eep 4k. . .
K000 Peeples Pbns 4k...
4000 Peeples Pass 4n...
4000 Phila Klec 1st 5s..
2100 Phila Klec 1st 5s..
500 Phllu Klec Int 5s.
17000 Phila Klec 0.-
lOOOPhlln Klec 0s
2000 Til ltwy 5s
1000 Un ltwy 5s
1st 3 lis '47..
1st 3! '47. .
1st 3 Vis '47..
1st 4!',s '47..
21 4!is '42..
2.1 4 Us '42..
2I 4i.s '42..
3d 4V,h '2.S..
3d 4 Via "is..
3(1 4 Vis '2S..
-1th 4Vis '3S..
4th 41is '38.. lets 00. (
lv'ts '23 let). SO
& Klec !i,.. .. K4',f.
iV f.lec os.
00.70
00.00
nil. 11. j
U.I.TO
00.50
00.40
1)0.41
011.70
00.74 1
00.70
00.74
ytJBSECuJS.
I H iL Insurance J
VCST riPNSr
I
4i;
00
00 y.
72
71
e.vt.
IHt
.... 07
.lilts 101'..
.lets 102 "
S5
. ... 851,
.lets
.lets
.lets
were:
;
Aus-
I2l4 ;
uwina
Expert Orders for Copper Increase
New Yerk. Apr'l 12. Allheugh nerne cop-
nm aKllara AM lnrllnl te BIK IS Prlltl Dr
Bosten..' wfyplM ta',0Mfi2 TO.'5le!99 peunJ for the meUI. 00 buslnei has txen
done m jet above 1 -'Ti cents, as far an can
be lenrned. 'All the contract belli placed
are for April and May deliveries, and It Is
I possible that If an order lame la for later
shlpmem, the 13-cent price would prevail,
Deineutlc bus'ness continues satisfactory, ac
cerdlnsc te the leadlna authorities and ex
pert arders are snewtnv sices flncrtsslnr,
FOREIGN- EXCHANGE
New Yerh, April 12. Opening Injures
for sterliiiK nml franeR this iiiernin
showed both of these exchanges back te
yesterday's final fiKiires. ilelglans
Itained 1, Swiss. 2, Norway and Helland
5. I.ire were down , pesetas 11 n
changed,, Danish down 5, Swedish
down 2, marks down 1 3s-
Uy the end of the first hour the mar
ket hnd developed strength nnd activ
ity. .Sterling cables Xic te 4.41
and demand 1.41; franc cable.,
0.22Uj, checks 0.211...; ilr(. Clli)lcs QAi,
checks 5.41V:;: iiinrku, .31.
The premium 011 New Yerk funds in
Montreal today was 2Va 1t cent. The
discount en Canadian funds in Nc.tt
Yerk wns 2 7-10 per cent. ,
central i.urepean exchanges
Bulgarian, .78; Ituinnnlun, .70;
Inn. 1.35; (.'zecho-Slevnklan.
Polish, .02S0; Klnnish. I. Ml;
triun, .0138; lliiugarluii,
ilrachmaK lempernrlly susiiciiiIhI
. ..... ...ln.l .i.vlltl.i..l .....1 .: 1 .
hi uiifiiuL-u Mutiiiiu uiiu iiiiiuiciiii con
ditions in (Ireeee.
YEHTKIIDAV'S CI.OSI.Na QUOTATION'S
Slerllnff Krancit I.lru Ouilil.rj
Demand -MO V.S0Y4 .'. :in 3T f2
Cablea 4.41', li.al n aii,i 5; in
TODAY'fl Ol'E.NI.NO QUOTATIONS
fcterllnu Francs .ire Qullders
Demand 1.4 l.'-'l .'..:i8i, ;,7 ss
Cables i.ilVi b.Vi &.3U 37.00
MONEY-LENDING RATES
NKW VOBK Meney nn cull, both dasxm
of collateral, eptned Imliiy a, ; p(,r' ."'?
for 1'iidliiK and renew Inn. v llnl
PIIIUIIKLI'IIIA Call. .-. per fenti time
5 per centi cennner-l,l lmiwr. three te lx
months, 5 te (Ha per ten
Gillette Pays $3 Cash Dividend
lloHten, April 12. The Olllette Mafety
nuier Cempiiiy haii declared th reKuliir
quarterly ch dividend (if fi ,m. hiire
payuble June 1 le eleclt of i.cnrd .May 1 Thi'
directors ale declared -i L'H lr ct-iil 'ntni'k
dividend, payuble en the time date. Thu
stock dlvlaend. leuether wlm 11 Hlniliur kiuL'S
dividend voted at the. dlrccliir"1 Janu ry
meeting, means th.it a ," per tifit ateclc iiiJi
.lend will be paid June I te elicit ei 'record
jifty it
BAR SILVER
Demesl 0 bar silver was unchanired In
New Verk today at Wiio ier I ne uutui"
ferelyn. (l.VJc. a ilecllne of' sic. In 1:
den the price hbs d lower at MM a
605 CHESTNUT STREET
Statement tif Condition April 1st, 1023
The funds of the Company are Invested as fellows
fash In Ofllce nnd Banks
t'ellnteral Leans
Commercial Paer .....'.'.
Government and Itnllrend Henda .'
Klrst MertRHRO l.enns ''
HnnkltiR Heuse and ether llenl Jiitnte '.
Miscellaneous
t 282,317.67
1.246,303.45
48.020.36
fi()l,793.2S
1,783,061.37
242.601.10
1.C20 83
I.css
2
additional protection of
,0(iri.944.57
ii'iOOO.OO
.$1,205,718.05
$2.084.944.67
Amount due lieposlters
Bills rarabla
una ii'incn ler me additional protection of depositors
a surplus 01 "lO774 08
Censistlnjt of Capital. 11.000.000.00; .Surplus, isOO.VeV.OO; '
Undivided 1'iellts, $93,23G.B3 ; Iteserve. . . ............. 127.538 55
TRUST DEPARTMENT
Trust Funds
Ileal Kstatu in charge of.
.$1,955,267.73
26,900.00
OFFICERS
T. Merris Peret, Jr., Prci.
W. H. JiiDikurtB, Jr., Secy & Trai.
Ceerie M. Htndenen, Vict Prei.
Wm. E. Clear, Ant. Seer. & Trtti.
DIRECTORS
Themas It. Tunnls
T. Merris 1'eret, Jr.
Dm Id Milne
('force M. Hendersen
William Henry llroeks
.1. Lloyd Ceiitea
1'rancU It. Tnjler
Frank .1, Slull
Allen 11. Itced
llrnr.v luul llusrli
(luirlee Vt, Deck, Jr.
Meneure Illddle
Arthur W. Hutten
Jehn l, Mnrllean
brand. . Ileinuerley
TAX FREE MUNICIPAL BONDS
City of Ntmifc, N. J. Geld 52t
CHy of East Orance, N. J. 5s
CHy of TrtirtM, N. J. 5'2$
Ctty of Bayonne, N. J. 5s
1949 te return 4.25$
19444 " L25
194C ' 4.30
1931-39 " 4,40
M. FREEMAN & CO.
42 Chc.tnyt St. PMIoHeWto
Tlek4na UmtMnl 0710-0711713
aasBaas. . j
M ' - - - a
Guarantee Trust and
Safe Deposit C.n
316-18.20 Chestnut Street
141 n.tn Ht. M ff .
TAX HKTURNH ACDITH SV8TEIU
I. Franklin Heward ft Ce.
CartlfUtl Public AccunUnt
I.ni Title HMf Munsrr WHm
ssuiuariwau, v, ITaHMMlta. V.
4
1
ST-S&
iTSv -.-v.l
fci "1
V-"W
.l-.tt
u'SSi!
t :i-'
.f, i