iHiHHIH
IBamniKlllilllBHHLnHr7TVr
m
i
High Lew P.M.
inn Arm Celli 1 1 1
3nn Arm Packing .... 4i 4,1 in
inOAMIf.1 Packing- ... n 10 10
treAm Thr.ad pf ... A 4,V i4v
710 Brit Am Teb coup. 17 ,17 17
IftO llroeklyn Clly Uy. 7' 7i 7'i
inoe rtuddv Jtuds 1,'. iH t,-,
inn Butler Bres 30 39 3D
SflO Chlce Nipple .. 1'i 1 1 '4
lOOf'ent'l Met K H
12nrrurant Met mi S.1i aan
970O Eastman Kodak . . 77'i 7Bti 77
SOOElce 8 ter Pit 44i . 44
100 Frent.nae Met ... 11 11 11
40Oattn Aldn Ceal.. 4R ti 4!)
inftOlllrtta Saf Rar...21RU 210 21nU
400Ctendyer Tire ... 13S 13't 13S
lOOOGeldwyn Plo 7 fl !
100 Havana Teb pf ,. 1 1 1
100 Int.r Ilubbar ft (1 I)
JOOJullua Kaya.r .... 27V 27' 27U
. aenubbr MoNeii .... 2H in, 2H
20OPftelrd Met (114 ', fl',4
0PIlfy Wlsslay .. 411 4rt 4tl
100 Perfection Tire ... S'4 ,1'i L
700 1'hlllp Marrl 1 13 ISti
lUfll Radie 3; 3A 34
mnomdle pf 3 . u
SOftR.e Meters 2I 24'i 24U
een Ht.rlln Tred 4l( 424 nK
lne Southern CI Ir. eh tin pi
4ftnttplrr Mf l:4i lit isn
120 Rwlft Internal .... 2n ins 20
milTenn Rwy 3 3 3
aoeTob Pred i:p ... fi nu n:
iweu li t II .... 1U 111 l'
AMU 8 Sl.am in 1ft m
ntnnir s Heffman .... 22i 21 22U
inni'nlt Ilt Candy . . ft ft ft
inn Union Carbide .... MU Ml; rut.
SOOWsyaa Ceal 1 i l,
STANDARD OILS
toeAnr Am Oil IS ms jan,
300 Allan I.ohea ft", D'l 0!
no nuckrye p i na, nti ni(5
lneOal.na OH no 4f)U 404
:.n imp oil Can me ine inn
4nOhle Oil 2Nt 270 270
innsmith PO ,.1K0 JKO 180
4:nn 8 OH Tnrf.. .... SOS Ml hii:
oeos Oil of Ky 784 7H 74
SOS Oil of N V ...3711 373 370
in Vacuum en seu seu 301)
INflKPFADKNT OII.R
40ii0 Am til Oil . . . 2ft IK 2ft
101 Allan Pet .... ft ft s
;nn Ark Si fiaa . . in't in'. km;
100n Hen Wyom .... 70 70 70
FiiirrrrniiAh ; . niWnft. :v. itf: .' v-irfiiiHW' &a ewhi u atlM rate cut ' l . w - ''
mmmvi aa3 aM i ' r by ! r a ar iu i.u Hirv iiAini' . ana Mia w tnnv -..a.i. nmu - naii. veil ueij. i b ww-uwmmm w - 1 i r 4 1
.-'J 111 irilr nllf IIIT' ' ?"-t nrv nt" ciu aiu a(U 21 4 1000 m,tr cm 7. ......10a
KM-"!.! Illl I LI II- liriL.lJll ) ,,. l. eri; prer ' ul un' '"
- 4;
fflElZOJ"
HITS NEW HIGH
Stock in Urgent Demand en
Curb at 21 2 '2 Market Ac
tive, but Irregular
New Yerk, April 13. The curb
market developed considerable activity
following n steady opening, although
prlce movements were Irregular, with
erratic changes 'in some of the higher
priced Ibkucs. There was an urgent
demand for Gillette Safety Rnzer.
which advanced te a new high record
at 2121&.
Klrby Fotreleum continued tinder
pressure, selling down te a new low
at IB. Durant, old, fell a point te 33,
while Glen Aldcn yielded nearly a point
te 48. Eastman Kodak rose nearly
a point te 70'A. Tidal Osage was an
other strong feature, moving up nearly
2 points te l44.
IMIUSTHIAI
V- -"uiri HI .....,.1, 1
f:?.2 "rn cVprtf, 44
lOOCrceln Hn 2
1700 Knln..er Pet , 5!
ihvii Knsinpcri
""u ra mi ,
100 Kf inland l
200 iliiiiiaml OH ...
Mill) at West Pet ,.
Suoufem-eck Oil ,.
1000 Hudten Oil . , .
'"0 Jnt .Petrel
100 Klrby Pet ....
MO Livingston Pt
I'OO r.yen Pet . . . .
20OMarland Del e
200 Miracalbe Oil .
.m.u ..ini 1IIO jh ,
2000 Merldan 1'et
nnwi mexice OH
22000 Mexico H.n
100 Mount Pred
1000 Mutual OH
100 Nat OH N J
nu neDir prer , ,
lOOONerthw Oil ,
0400 Omar Oil
200 Premier 1W . ,
100 Pred & 1W .,
100 Rapulpa Ref
lOOHeabeard O A
700 fclmma Pet .,
1300 Hkellv Oil . ,
lOOHeuthern P A
linnoTexon
2300 Tldjtl (( t . .
200 Tidal Osara N
200 Victeria O new
MO White Kasle ..
200 Wilcox OH ...
mm Woodburn
3000 Y Olt
8'
1
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8SH
JI
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1
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lii
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2
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bd .... 43.x , 41 lj 41
tr.
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1
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101J
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24
4i
01
17
MINING
Sen Alaika Ilr Celum.. ?'i
2O0OIII Iedse ID
(1000 Deet Ment 24
3700 Beat A Ment Cern, lift
lft WO Canada Cep . ... 42
2000 Candelarla, M 2rt
3000 Cem Cep M I'i
000 CrtMen Held .... 2t
.'00 Doleres Kan
2.100 Rureka Creeau
4
300 tint Nat Mln .... Oft
4A00Oadacn Copper ...10H
lOOOUeld Cene 0
lOOOOeldfleld Fler .... IS
ftOOOQetd Zene It
lOiiOllarmlll Divide ... 14
ine llelllnter
4000 Independent l.d . 21)
lOOOIren lllosnem 21
inoe.leromn Varda .... 3
200 Kerr Lake '.4
inoeMcKIn Oar 21
1700Maen Valley ...
2000 Mether Lede Clt.
4200 Nat Tin
3000 Nev Ophlr
000 Nev Sll Hern . . .
son Nlplaelnr ......
3000 Ohie Copper ....
lOOORex t.'ena
200O Ban Tey
1100 He Am V A O...
1000 Hteward Mln ..
IKiO Tonerah llelment
2200 Toneaah. Divide .
HOOTonenah Kxten .
7H00 itnlted Kantern ... J
inne Whita capi
7000 Huperatltlen 0
100 Trinity Cep -
ItONDS
1000O Allied Packer J4
2000H Allied Packer clfa. ftH
inne Ailed J'acner -. "
li
30
3
'4
11
ft
s
44
14
1H
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no
24
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42
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as
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ftH'4
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.000 Aluminum 7 '33..103J, I03J. ies.
..iiuit lunw iw" 1
22.100S 100V4 100N
73
3K
no
4
10000 Am Ms.lt 6
mnnA Am Tl Ha nt
mnnn Atn T1 n nf '24.10114 101 101
IIHiO Am Tell 7a of '23 .102H 102i 102H
2D00 Anaconda Cep .. ftni 99'i 90'i
12000 Anamnda 7a '!O..I03'4 103V4 108 li
lftdOO Anc Am Oil 7'4a..l03H 103 103S
7enn Armour 7a .
1.10OO Harnadall Sa
21001 Ileth stl 7a
noeo iieth stt
10CW Can Jv'ut Ilwy fta.. nn,
10000 Can Pnc 0 10l4
1(00 Cem Copper 7a .. 12 ft" K2
3000 Cena Uas 7a . . 101 i 101 'i let ' i
4O00 (kins Textlle Si . . Mil IIS OS
Ml'in Cep Hxp 8j .'.l. 102, 102U 102ti
20t'0 Cep Kxp Si '2ft 101 104 104
moon Deere . Ce 7'j. 100', 100"t 100'i
23
.103 1034 103t
. inn inn leni
. .102
Ht 7s '3ft ..102 102 11)214
102
102
n4a (
leiH leis
rau''
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lei4 103 "4
seu ae'l
100t5 10OH
r,eu mi;
Sl4 Ml'a
esti no
1084 10SS
we-4 vnM
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1000 duff Oil la
f.OOO lined Rubber 7a.. SI
aenA irMi.u .m v . 4entl
..VY.' .lunii'lB -ll in ...bvv.v
.'OOO Int Ur N'er fia.... BIIV
(1000 Interlioteusli 7a .. S0T4
liOOO jnterbnreush Sa .Hi
COOOKane (.1 A K (la... US
2000 Kennecett C 7a, ...104.
2000 Laclede Uai 7.... DSV
2000 I.lbby 7 Oil
2onetJett Weat 7a,..10l
ROOft Marland 7Ha .... 08U
70000 Me Pae s ...... IlOO
lnOONnt Aetna lit 07
tOOONat Cleak Ha. InSU insU 10SU
10000 N T N II A It 4a.. S3 4 S3 S3 i
lftOOON Y N II X H ji.. S4 S3T4 S4 ,
SOOONer Am Kdtaan a 024 924 2H
inoe Ner Ohie I.laht ea. nn nn oe
30000 Phtln Ce Oa 07i l7U '
17000 Pub Setv .V J 7a..l00U 100'i lO&tt
4O0O Raka A r It. nun. Iilll
S000 Rears Reeb Te, '28.101H 101a 101H
mam nnawaneen . ....ivata iii7a lun'n
7one h w neii 7a 102H I02i iesu
DO
10(1
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'in mTU I
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ff 102 102JI
Vl 107. 107M
10O4
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1000 H O N T 7a 'g.
mono nun en 7a
10000 Hwlft C 7a '2ft.
2S0O0 Hwlft Ce 7a 31.
6000 Tex Ce 7
12000 Tidal OatUe 7a..
3000 Tel IMIren "a...
80000 17n Oil Pred S..
1000 Vacuum OH 7a .
10000 Warn Hus 7a ..
lOOOOWeat lilee 7a ..
inOOO Winchester 7'.4
3000O Arsan 7i
lannentv Sela (la ....
1K3000N T N II II Fr 7a.
20000 Rua 8W Ctla .... S4 24U 24 H
IBOOORirUa SMa tem lelH leiv,
137000 U S Mex 4a SOU 4Si 40 !4
.10l4
.1014
.inr.t4
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. lOfl'i
. ask nsn
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101 t IOIVj
1111 14 101i
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104 107
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11 a
ART MEETING ON TODAY
Representatives Frem Many Col
leges Mat at U. of P.
The eleventh annual meeting of the
College Arts Association opened today
at the Fine, Arts Scheel of this Univer
sity of Pennsylvania. Representatives
from art departments In all the leading
universities and colleges in the country
attended. There also were representa
tives from various secular art erganlza
tlens.
A number of erudite papers wers
read during the meeting, which will
continue until Saturday. Among them :
"Oriental Art," by Lnngtlnn Warner:
"Newport as an Art. Center," bv
Stephen B. Luce, of Bosten, anil
"Chrlstus Cricifer," by C. Tl. Merey.
of Princeton.
Reduction .Waleemtrf Further
atep Toward Nermal Conditions
Londen. April 13.-(Ily A. !.) The
Hank of 'England today reduced Its dis
count rate te 4 per cent. The last pre
vious reduction was en February 30
last, when the rate was dropped from S
te 4V6 per cent.
The reduction, coming en the eve of
the Kaster holidays, was nn entire sur
prise te the money market and financial
Interests. Business in Lembard Street
hud begun this morning without the
usual "subject te lower bank rate,"
which is usually posted when there Is
a possibility of a reduction during the
tlav, nnd the belief is expressed that the
ncilen was prompted by the treasury,
which has been ruling the money market
for some time past.
The reduction, however, was wel
comed as another step In the restora
tion of mere normal conditions nnd the
loosening of money for trade purposes.
With the exception of Hwitxerland.
Great Britain new has the lowest bank
rate in the world as the result of the
Bank of England reducing Its discount
rate te 4 per cent today. Switzerland
cut Its 4 per cent rate te 3 per cent
nn March 2 en account of the excessive
geld supply' In that country.
The present British rate compares
with a high of 10 per cent en August 1,
11)14, nnd a low of 3 per cent January
20. 1014.
The monetary situation hnd become
mere favorable te n lower bank rate
through the reduction In the open mar
ket rntea by which the treasury had been
enabled te borrow en easy term and at
the name time deal favorably with the
national debt.
The reduction of the rate caused as
much amassment en the stock exchange
ns it did in the money market. It
effect was gradually apparent In the
quotations for geed yielding stocks,
which added fractions te their recent
upward movement'. The cheerfulness
Inter spread te all departments.
BAR SILVER
Par alher ivaa '.id hlcher In
day at 38Sd.
linden te-
Fer Rent
N. W. COR. CHESTNUT AND 16TH STS.
42 Feet en Chestnut St.
1 53 Feet en 16th St. 42 Feet en RanMcad St.
On Improvement Lease
ESPECIALLY DESIBABLB SITE FOR BAXKINf; "HOUSE OR
TRUST COMPANY
JOHN H. SINBERG
1211 Chestnut Street
"" '
NEW ISSUE
$1,381,900
The Texas & Pacific Railway Company
6 Per Cent. Equipment Trust Notes
Issued by Messrs. J. L. Lancaster and Charles L. Wallace, Receivers of the Texas & Pacific Railway
Dated January 15, 1920. $106,300 due each January 15, 1923, te January 15, V935, inclusive) '
Autherised and Issued $2,392,500
Matured and Retired 319,000
Held by Director General of Railroads and te be subordinated te the remaining notes. . 691,000
Balance new offered $1,381,900
Interest payable January 15. and July 15. Principal and interest payable at the office of the Trustee.
Coupon Notes $1,000 each, with prevision for registration of principal only. Subject
, te redemption as a whole, but net in part, en any interest date en 60
days' notice at 103 and accrued interest.
Guaranty Trust Company of New Yerk, Trustee
These Notes are issued under Kquipnicnt Trust Agreement between the Director General of
Kailreads, the Receivers for The Texas & Pacific Railway Company and the Trustee. The Court order
which authorizes the Receivers te execute the agreement and issue the notes, provides that the' Cor
poration shall, assume the obligation of ihc Receivers under the agreement and the notes issued there
under with respect thereto.
The original cost of this equipment was $2,445,085.75. Twe of the fifteen serial installments
of principal have matured and been paid. The Director General by Supplemental Agreement has
subordinated the lien of the Government en this equipment te the extent pf 33 1-3 per cent, of the
notes of each maturity, which notes will be stamped te that effect. The unstamped notes new offered
represent a first lien en standard equipment, described below, te the extent of approximately 56 per
cent, of the original cost thereof.
II Light Mikade Locomotives, witli tenders 7 Light Pacific Locomotives, with tenders
14 Light Switching Locomotives, with tenders 18 Light Santa Pe Type Locomotives, with tenders
The Texas & Pacific Railway Company operates about 1,050 miles of read, a through line from
New Orleans te western Texas, touching such important points as Shrcvepert, Tcxarkana. Dcnisen and
Kerl Werth, and providing connection te these points for both the Missouri Pacific and St. Leuis &
Southwestern Systems. Since October PJ16 (except during Government control) the Cempatiy has been
operated by receivers. This receivership, however, is a technical one and is net due te lack 'of carniii"
power, but due te litigation with the Missouri Pacific Railway, the largest stockholder and owner Jt
practically all The Texas & Pacific Railway Income bends. The litigation is chiefly en account of
claims for payment of intcrc-t en the-c Income bends. The Receivers arc two of the corporate officers.
Since 1(16 earnings have averaged mere than double fixed interest charges. .'or 1921 gross income,
alter deducting hire of equipment and joint facility rents, was $4,887,011. Total fixed charges amounted
te $2,140,287, leaving net income of $2,740,724. The Company has outstanding $38,763,810 of Capital
Stock -clling at about .ih. Meedy's Investors' Service rates these hquipment Notes Aaa.
MATURITIES
January 15, 1923 100.36 te net 5.50 per cent. January 15, 1929 101.38 te net 5.75 per cent.
January 15, 1924 100.82 te net 5.50 per cent. January 15, 1930 101.54 te net 5.75 perejeent!
January 15, 1925 101.26 te net 5.50 per cent. January 15, 1931 101.70 te net 5.75 per cent!
January 15, 1926 100.83 te net 5.75 per cent. January 15, 1932 101.85 te net 5.75 per cent!
January 15, 1927 101.03 te net 5.75 per cent. January 15, 1933 101.98 te net 5.75 per cent.
January 15, 1928 101.21 te net 5.75 per cent. January 15, 1934 102.11 te net 5.75 per cent.
' January 15, 1935 102.24 te net 5.75 per cent.
Accrued Interest te be Added
These notes are offered for sale if, when and as issued and subject te opinion of our Counsel,
Messrs. Henry, Pepper, Meiline & Stokes. It is expected that interim receipts of the Commercial Trust
Company, exchangeable' for definitive notes, will be ready for delivery en or about May 1, 1922.
Jii-W-
ni
n
'
&.
'!$
fiAT - i.hJ4 wr w-mw
Cohoes Power and Light Corporation
First Mortgage 6 Geld Bends
Dated January 1, 1918 Due January I, 129
Interest payable January lt and July lat at Cantral Union Trust Company of New Yerk
Callable at a whale or in part at 105 and interest enany Intertat date, en 30 days' notice. Coupon bend.
regltUrable aa te principal, in denominations of f 1,000, $500 and $100. Registered bends in
denominations of $1,000 or $10,000. Coupon and registered bends Interchangeable.
CENTRAL UNION TRUST COMPANY OF NEW YORK, TRUSTEE
Company agrees te pay interest without deduction for Nermal Federal Income
Ta te an amount net exceeding 2 which it may lawfully par at the' source.
The Cohoes Power and Light Corporation
has unified the power possibilities at Great
Cohoes Palls en the Mohawk River near its
confluence with the Hudsen River, and has
built a modern hydro-electric plant of 40,000
h. p. capacity. This power site and new de
velopment bear an important relationship te
the industrial development of Cohoes and the
entire se-called "Capital District," which in
cludes Albany, Trey, Schenectady and vicinity.
The company's property includes the hydro
electric development and also a gas plant and
distribution systems for electricity and gas in
Cohoes and vicinity.
The company also owns a number of large
parcels of land in the City of Cohoes much of
which it leases virtually in perpetuity te in
dustrial plants. The leases further provide for
the purchase of certain power, the payment
for which must be made, whether used or net,
and this charge becomes a lien en the build
ings of the lessees ahead of any of their mort
gages or ether obligations.
In addition te supplying electric light and
power and gas te Cohoes, the company sells
power te the Municipal Gas Company, which
supplies the entire City of Albany and the
larger portion of the power requirements of
the Albany Southern Railroad.
These Bends are secured, in the opinion of
counsel, by a direct first mortgage en all the
physical property, real estate, franchises and
leaseholds new owned or hereafter acquired
by the company.
The franchises under which the company
operates are, in the opinion of counsel, with
out time limit.
VjaXrV'-
; ftH,$f
W v
The capitalization upon the completion of the present financing will be as follews:
Authorized Outstanding
STOCK paying annual ditidends of 6 $8,000,000 S2.S0O.000
BONDS
First Mortgage 6'a due January 1, 1929 (including this issue) 10,000,000
The earnings since the company started operations
increases as the following tabulation indicates:
1921
Gress Earnings $896,524
Operating Expenses and Taxes.... 419,787
3,900,000
en its present basis have shown steady
Years Ended December 31,
Net Earnings $476,737
Annual Interest en $3,900,000 Bends 234,000
1920
$818,756
378,242
$440,814
1919
$683,289
273,299
$389,960
1918
$484,241
233,107
$251,134
Balance $242,737
NET EARNINGS OVER TWICE ANNUAL BOND INTEREST
We recommend these bends for investment
Price en Application
Bends are offered for delivery when, as and if issued and received by us, and also subject te the
approval of counsel and authorization by the Public Service Commission of New Yerk, Second
District
Paine, Webber & Company Halsey, Stuart & Ce., Inc.
1422 Se. Penn Square Land Title Building
Philadelphia Philadelphia
Thla Information and ih.aa ttatisilca are net ruaran'i. but haw bn obtained from aejrc bfli. te he aceurata.
I own and offer
100 Shares '
Kentucky & West
Virginia Pr. Ce.
8 Preferred
" at 88
GEORGE N. FLEMING
221 LAFAYETTE BLDG.
Fhenei I-embard 8414
JOB WANTED
Ne: pealtlnn or i.rrth. but a job vner
i lm:,atlit and tnamnarlal ability wilt b
I rewards). I am thoreuctilv trained an.1
experienced Accountant, net th kind that
dnrtaea ieapenlbilllea. hut en. who araka
them At present lefated III Nw Terlc Clly.
Me Si. Mauled Phnra nrflld 0208 Vf
i ur wrKij
a ei. i.KTK.Kit erntF.
rrxAM'i.1.
Annual Mwtlna.
Commercial Trust Ce.
City Hall Square West
Philadelphia
Edward Lewber Stokes & Ce.
20 Seuth Fifteenth Street
Philadelphia
e
Harrison, Smith & Ce. Biddle & Henry
1 2 1 Seuth Fifth Street 1 04 Seuth Fifth Street
Philadelphia Philadelphia
'J'.ie Infoimailen nnd fUiieim I'enuineil herein han been obtained from sources which v. bel!ee te h reliable.
f
JSW OI'r'M't: OF TIIK I MTKII ll.
IMfll(Vr.ilKT IO.MPA.NY
N. M. t'erner dread nnd Areh Street.
Philadelphia April IS, llr.'i'.
Th. Annual Meeting- of tie SteeUhnldera
rf The I nltd f I. imneAvemetW I'mmd...
v ill be held at the efflie of the I'nmnany. I
N W Cerner nf fiujil nnrl Awh ,frii
rniiiuipipmu li.uiinr nay i. it'Z. at 1-
, e -Inck neon (davllrlu n!i" t.in.l. when an
I eloctlen villi La held fei Preinlam and alv
I nil Ul'eitu.-K le aene for the enu.na vear,
and audi ether tmalnea will be trn.ieted
' a. may b lireuaht Were the ni'atlrr
The atncl. iranafer books will h. rleatd
from .1 I M. Wedneadav. April lit. 1'."'
unt it 10 A ,M. Ttied. M :'. l-.'i
U. W. Cl'P.UAN. Serretarv
I'ropeaala
TKKAKl'RV DKPAKTMEM'
tvaalilnatun. I), c. April 10 II""
:KU."I l'HOPO.S U.s v..!l b. recelYad'bv
tf.e !lnr.it ."uDlly Committee Wa.hltuflen,
fi C until a o'cleoli P. M H'ealaeMlav
Mar 10. II2-.'. P'-'l then public y opVnJdVfer
(urnlahlna. dtirlna. the flcI nr beainnlni
Julv I. 10KB -ltd endlna June BO 1B23
mater'a'ti .uppllea end enulument deacrlbed
In the Pneclfl'-atlpiia and Proposal, for
CI.AH1 0---l-iirnltiir and rinrr CnerlntT
(for the period July 1. iel'J. te Jim, an
'c'l.AS 10 Ciroeer.ee Prnleiene Cl.anar
T'el'ali Seeurln I oinpeund Hean and Ke..
I)ikp.neni and Poda (for til. period from
-:. : i .:ij-..:- "'
tn; ire.n Ji,? 1 io'TCteWr T lO-fr '
cf.AHS 14 Ite (for the p.rled from iiTiu
1. !P3-f te June S J, JOMJ.bf "hi e"n.ffi
4-ht.lu of ftuoellea. for f... .t.vv!",r,i
,h. Cicu.
tle IJepartmenta and lither KalaTi lahmlr...
f ih Government Jn Wpahln"ten ij 'c
,nd for ua. by aueh fl.ld aarvlr.,' i, ...
Included lu the apeclnoatlena. and for SirV.!
delivery from, ror.tiaeler'a ahlpplna ?i,i.r,-i
Oarnmeiit bill
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or.
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upen application ,te th.a.ncr. Hupp v"ch,td
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i UANUFACrL'RKHh AND rATAULIhiiar..
Staler, ile.lrln. te b.il an auapllSi Ti?, ft"
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P.hr ;.h'rs.uW:;.oa'f;!,e?aij: tfg
neatrlen. and acten for fiscal y.'r ia"s'
Information en application. ...
The Land Title and Trust Company
Bread and Chestnut
Philadelphia
STATEMENT OF CONDITION APRIL 4. 1022
ASSETS
Cash .......... $4,791,523.43
Lxchange for Clearing Heuse 843 224.23
Leans en Collateral 1 4, 1 65 045. 1
Mortgages 3432i9896l
Securities 3.034,870.86
Real Estate 5.578,000.00
Plant ....... ; 275,000.00
Accounts Receivable 432 900 91
LIABILITY 32,S7i;5S4.22
api;a! y $3,000,000.00
r!ur?--i juS a 10,000,000.00
Undivided Profit. 390,636.25
Reserve rer I axes, etc 107 qa? 27
DePsits '.'. '.'.'.'. '. I8,995,874.'70
T 1T r , $32573554.22
Total Trust bunds : . . . . . 55,638,926.04
Our facilities include, besides the Uhunl riini-kin nmi ..,,, 1
complete Trust ServlcV and a Real EstX DcpSunen Ul W nXZrdT'
of property, collect rents and a Title Department "entain"ns tTrvttilltv e.7'
gate anil insure title. "ni) terj lucility te m-esti-
Our officers aie readily .a edible and uIwun "lad te iIimm 1.,, i.,
investments and le cxplnin the werkiiirV of "UI Tvvide L S preh!!m' "'
'reside 1 1
WILLIAM R. NICHOLSON
Vtec-I'reeidtnt Vice-Prttidevt & Treasurer Vice P,-,,j ,
EDWARD H. BONSALL LEWIS P. GE.GER, JR. HENRV R ROIHNS
LOufsTZv.S , rn' Office '
LOUIS A. DAMS CLAUDE A. SIMPLER
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WE OFFER SUBJECT TO
PRIOR SALE
200 Shires Otte Eisenlohr
& Bres. Common
Te yield 8 Per Cent
Tat r're. In PrBnajleaal
ISAAC STARR, JR., & CO.
lltk k Smm SU PhUadelphia
HARPER-&TURNER
Investment Bankers
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