M$l jjr .VS.)f Tt ILIC IM mtm JgTTliy i tiBrii.'' jm w iuBMBmau i Jrt s.'ij .. tr:-r. iw ni ivirr KBHwnn t-i i j- . j.l irr.r-.-int.fv!.; i, is a. ii s i ill '. . . " . i C - ' ' ' ... . I A . I v$i r " ..MI &vi sg W Iter Carolina, CHnchfield & Ohie Railway Company Equipment Trust 6 Geld Nete Prices and Maturities vv; Maturity Te Yield IV B.3VV0 1924 5.50 1925 5.60 , 1926 te 1932 inc. 5.75 1933 te 1935 inc. 5.70 The National City Company Philadelphia 1417 Chestnut St. Atlantic City Chalfont. Bleck 1223 Boardwalk hi Railroad Bends Wc have selected six railroad bends which, in our opinion, offer particularly geed in vestment value in their respective classes. A description of these issues, with our April Bend List, will be sent upon request for our Special Railroad Bend Suggestions. Harris. Ferbes & Ce Pine It, Cor. William NEW YORK Philadelphia Office Widener Building Telephone Spruce 7040 American Railroad Bends for Investment A striking improvement in railroad net earnings for February is reported by 40 systems. These reads returned aggre gate net earnings of $31,891,106 in contrast te an operating deficit for February, 1921, of ever $4,000,000. Investors will be inter ested in our selected list of opportune railroad investments. Hemphill, Noyes & Ce. Jfam&ara Naw Yerk Stock Eictiang Franklin Bk. Bldg., Philadelphia New Yerk Bosten Scraotea Buffalo Albany Syracuw Baltimore II We Own and Offer 1 Township of Palmyra, ml HI N. J., Scheel 5s, Jill Iji 1924-1948 I Iji Te yield from I IJI 4.604.80 llll WlOINIR BlDO, FMIUOtlMU 111 J AVar )t'i &ni ititfri I il ww wnn pjuarm. a. i. (EA, $90,000 CITY OF LANCASTER, PA. SCHOOL DISTRICT VA BONOS fe APRIL 1, 1932 APRIL 1, 1942 APRIL 1, 1952 ?Vf avAiV't !&J PRICES ON APPLICATION m RE ILLY, BROCK A CO. 306 CHESTNUT ST. PHILADELPHIA If There Is a Market tffe Can Find It We held sales of stocks and bends every day. charging trance lee for each wtekly catalogue ard service reach kct. We take p fn Wne auetpt" Brnes & Lefland Prcliara AiitlHHM ay ai ai FURTHER SLOWING DOWN OF MARKET Mere New Highs Made Despite Narrowing of Price Movement New Yerk. April 21. Tlicie was a further quieting down of speculative cnthuManm In tedny'H stock market with nceemrmnyliig nnrrewing of prlcr movement. The market, im n whole. , however, tnnintnined a strong tone nmJ , tnc majority et the main body or mocks mndu emc amount of ftnln, some few. In fact, pstnblUliing new highs for the current year. Overnight development put n mere hopeful aspect en (leneii Conference sit uation. At tin nme time Washington mivlces that niIph tax is nbeut the only bonus nlnn President Ilarditie will nn- . prove and the admission that It will be hard te pass n Miles tax either In tin Heuse or Seunte took a great deal of ' tlie sting out of the Soldier Ilenus Dill bugaboo. In view of the abundance of call money in the regular market at H1 per cent and .'I per cent In the outside market, the slight decline In reserve ra- tles of the Federal Reserve Hanks was net treated ns a serious factor. Ter the moment the market appar ently Is being governed mere by con ditions within if-elf than being influenced te any great extent by the outside happenings. Yet the emphatic denials of the reports that the Tampico dHtrk't iji Mexico showed salt-water deterioration was successfully employed te boost the entire oil group. This, however, was accomplished at the ex pense of short Interest, confirming the preponderant Influence of technical conditions. 1 Mexican Oils were the strongest fea tures at the epenlnj. Mexican Petro leum made an initial gain of 1';. points mid Tan -American. Sinclair and Texas Company were fractionally higher. I'liien, Housten, Standard Oil of New Jersey and KaniMliiU "A" gnlncd 1 te almost '' point. Knrly gains were held, but trading 'shifted seen after the opening te the , railroads, meters, utilities, shipping and feed specialties. Canadian Pacific. Te.xas and Pacific. Norfolk and West ern. Pittsburgh and West Virginia and New erk. Chicago and St. l.euls com mon and -ecend preferred roe 1 te 2 points. Studebakcr, I'lirtrle Storage llattery. Mack Truck. Consolidated (ia. Manhrttan Kicvated, Market Strent Hallway prier preferred. North American and American Kxprcss also gained 1 te 2 points. Pestum Cereal common and preferred. Coca-Cela, 1 lilted Fruit. Atlantic (iulf and Amer ican Woolen were conspicuously strong. I'sual leaders in tin: industrial croup lacked their recent prominence. United -- States Steel first advanced ns te !)!)", and then reacted te Oil. The trading in this market lender was inlluenccd by tliu announcement of the offerings of i $10,000,000 bends by Indiima Steel and I National Tube proceeds te be used for the erection of a tube plant at (Jary, Ind.. te cost Slu.000,000. It wan in- j listed by some of these active in the stock this action would net be taken I unless the managers were confident of I industrial activity for a long time in 1 the future. Commodity Markets 1 GRAIN MARKET i I Chicago, April 21. Wheat advanced i c te f'sc nt the outset and early in I the day was strong en active buying I prompted by unexpected strength In Liverpool, where prices nt the close , were laJil higher. There was little, expert business In sight, but the recent i purchases en every break had convinced I the trade that Ktirepc wants wheat and that there are orders under the market nil the time for liberal quantities. While the May positions had the advance, the 'new crop months followed easily. Cern started ic te nc hielier with wheat and en the recent ex'tert buying! and earlv in the day was very firm wltL I a geed demand. , Oats advanced ' te 3-c with the ether markets despite the better weather for seeding. Previsions were quiet with small price changes, but the undertone was steady with grain, and en a steady opening in the hog market, where prices were unchanged te 5c higher. Cern I'rev.ius Cle Ori.ti vr.n Jul Scut V heat Mai . . . tui , Sipt . .. Uats 'Jlav .. .. I July . i-epr Hy May . .. July .eptmbr Itibs Julv Lard tn Jul" ..., s. pt mber HI'. 1)1'. r,i, i',i i (.jS Q ci ' I'.T'i l :!t z i.iu ie n ie! 1 OS'.j l ou. ni. i7 i.4n 1 'J7J. r.s ' ft I 4 2-i I IMS 1.2.-.H 1 IS1. .17". 4(l Ul?. In 0 in j 10 s .11 07 ii :u COTTON MARKET New Yerk. April 21. In the tn e of i liar weather map, quotations en tlw niten exchange opened ! te 7 points higher, chiefly due te large sales of print cloths at Full Kner, a tinner uml mere active local goods market, favor- , able cables and liberal local ceerIng. Jnpanee Interests sold near months and commission houses also wcte sellers en the advance, with the lesult that the list eased quite sharply in the first fif teen minutes aided by liquidation of May. The receipts at the ports for the da,v are estimated at 12,000 bales, ngulnst 15,509 bales a week age, 22.8411 bales! a year age. Prleus 1 no fleBG upon ' M. . 17.77 17 s-p 17 N4 . IT. llll 17 I.) 17 M 17.30 17 an 17.111 . 17.30 17 HI . . 17.2H 17. Js . . 17. SU 17 .13 May July Detour D's.emtM-r I January , I Marin . . NEW YORK COFFEE MARKET i New Yerk, April 21 .-Talk of an- i ether Londen lean te the liiuzillan ' Government te apply against toffee- led te a renewal of demand for coffee, con tracts here, and the opening call te.lu,. brought about an advance of 5 te . points. At midday the local market wan. firmer and prices had worked up 8 te !) points net with May Khert coverimj sending that option te 10.12. There Is a holiday in Hia.ll today and no spe- I cial cable, advices were, received by the exchange. What new linn offers were1 here came in unchanged te sllghtl blither levels, i Test flnsi M,V . .10 .llllllj Ju.y ID IT, .s. ptiniljer ... "7RS Dmtr UStesj iurtu f ueast Open 10 in le.'.'4W2r. I) 95 UT n 9.8703P I U.S. Certificates and Treasury Notes Int Mturlnir Int. JUtunnff 4 Mar.. lUHfl, . . .101 13-10 101 1-1 4.: Exempt from federal neimal income tax. Acceptable for payment fA lucetne tax Uua a dti et maturity. J M (Ut, WednM!tMU June. 10u.' 100.1-3J 100a-3a 3 10 aVn. .'. ' 3.184.871 'KIKJ-RSB I the bu.ll ia ben In rceurel woela. Sl.OO en t'SVi June. 102J 100U-3J 100D-32 3 01 Net after taxes . ,r;Vj tsuimH "","ul" lur r" "' "'"- """"" "" neatuii item. Oxa .. :.: ' Z-V'K , i? I bun.iu.aft.r ch... WU.-IT.. -iu.m gy- 'Uui, :T,WaV en eA7aV. ffffi.Rffi. and POIiai ::,t Si." in". inn Vi u in "i i Via' 'U's-rease irm nine luriner euainein is reperieci .ivjiand . . verw rnar. A- f".'1" iS-i" u !i 5" V8! " 'rm the Veal, cHerl)' In Arlsena. at aieudy . itithmena . eVCry Hlr -jt. Oct l IJJ 1W I . IIIO I-ltl .l,,l-, I ,,,i,,.. Tli furilmi murketM urn rill leiv v!.?.":.nu ' Ininura U tM'-i Kee . ma.' . urn n in me u-ki n,n nivinPNDR DECLARED Wr,. )'.u"la " icasuni j,i jjar,i iej,t ion ii. in inn 2i-:ij ;i 47 oiviucinue utiuntu nrl c'hicKue ... IP. !t:.,J June, lliil . lii.l-i-l(l 1(1117-1(1 4 0ii ,,, tip u,i Uublcr Cemraiiy. iiuirtcrlv - I Ht. Uiula t'ftH S'Pl.. tr,l- ' , "' , ." i r.fi renlr. juyuUle June J le lievu i rei-un. BAR SILVER i.SJ.'La.'i'lTy (T-4-4 ji.r,, !..,, ,,,.i-ii I.,, imii May ir NEW YORK STOCK EXCHANGE TRANSACTIONS Dlv. Snlei in I 200 .. 20O .. 1 .30 Net 1. Jr. Chae. 67 - 214 10- J 4814- 1 17)4 ii STOCK ltleh Lew 06 18 4814 17J4 1 H 66 106y4 5014 96 39 6714 4114 4614 G1 48"4 104 Ji 162 1214 25 6'4 138 69 45 108 804 12 3314 11514 VJ4 1714 57 97 9214 134 3814 75 100 34 122 140 100J4 13714 S2 10514 34 '4 16VS 41 14 53'4 49 101 li 91 4' 101 4 32 24 !4 84 1. 44 1 116 48 C04 48 si ',; 35 74 '4 78 U 112'i 6'i 26 n 10514 1U 23 20 98'z 59J4 130 40 6 2B'i 2814 13 78 Z6 7 58 143 5!i 80 37 Ji 721i 26 J4 44'4 76 65 9 244 4514 8 '4 22 U 2814 46 76 110 67U 47 !4 82 95 64 92 Ji 18 28 54 32 50 !4 63 3 16J4 77 117!i 13Ji 1 03 U 41 641-4 22 94 16 U 35 U 6314 121 115Ji 107 27 j; 770 173'4 614 86 A 110 1314 23li 15'4 81 U 40 124 9b 18ig 168 60 631, 75!i 1 13 K 12 93 41i-j 90U '4 75 'm 41 J3 29 '4 12 13:- 34'.. 83 '2U 19 72 Jj 78Ji 17 7 108 41a J'i 9 34 26'a 95 108i2 2d,4 83 "4 17 18!4 U 20 41 U 27 58 5U 93 . Adams Express . . . 6" .. AUvance Itumely .. 18H 3 Ad vane Rumaly pf. 4814 .. AJax Rubber 17 H . . Alaska, Juneau O M 1 14 . . Alnika Geld Mines. 4 Allied Chem ft Dyf. 67 V2 7 Allied Chem & t pf10614 Allls-Chalmers .... 51 7 Allls-chalmern pf.. 98 Am Agrla Chem .. 39 ?i .. Am Agrlc Cliem pf. 67 yi .. Am Beet Sugar..., A?-V " Am Besch Magneto. 46JJ Am B Shoe Fdy new 6214 . . Am Can 4UH 7 Am Can pf 104J4 12 Am Car ft Fdy 162yi .. Am Chicle 12 Am Cotten Oil .... 25H Am Drug Syn .... 6H 8 Am Express 138'A .. Am Hide ft Lcath pt 69 Vz Am Internat Cerp.. 46 H 7 Am Ice 108 6 Am Ice pf 80J4 1 Am-Ln France Kng 1 2 ' .. Am Linseed 33 Ji 6 Am Locomotive ...116 . Am Safety Razor . . 7 Vz Am Ship & Coin .. 18 .. Am Smelt 57 H 7 Am Smelt pf 97 .. Am Smelt pf Sec A 9214 12 Am Snuff 134H 3 Am Steel Foundries 38 Ji .. Am Sugar Ref .... 76 f 4 7 Am Sugar Ref pf..100 .. Am Sumatra 30 U 9 Am Tel & Tel 12314 12 Am Tobacco 14114 C Am Tobacco pf new100J4 12 Am Tobacco B ....137J4 7 Am Woolen 93 7 Am Woolen pf 105J4 .. Am Writ Paper pf.. 34& .. Am Zinc Lead ft S. 16J4 . . Am Zinc Ld & S pf . 41 14 .. Anaconda Copper.. 53 .. Ann Arber pf 5014 6 Atch Tep ft San FelOl 5 Atch Tep & S F pf 91 14 . . Atlan Rlr ft Atlantic 4 7 Atlantic Coast Line U 2 .. Atlantic Fruit 4 .. Atl Gulf ft W I S S 33 ',4 0 Austin Nichols 24J4 7 Austin Nickel pf . . . 8414 . Aute Sales Cerp... 4!4 . . Batepllas Mining... 1 7 Baldwin Locemotlct 17 14 . Baltimore ft Ohie .. 49 !4 4 Baltimore ft Ohie pf 61 . . Barnett Leather. ... 50 .. Barnadale Class A. . 52!4 .. Barnsdale Class B.. 35 U 5 Bethlehem Steel 75' 6 Beth Steel B 79 5 Beth Steel 8", pf..112 .. Beeth Fisheries.... 6U .. Brit Em Steel 2d pf 26 8 Brooklyn Kdlsen.. .10514 . . Brooklyn Kdlsen rts 1 . . Bklyn Rapid Transit 23 14 . . Bkln R T ctfa of dep 20 U .. Brklyn Union Caa..101 6 Buff Rech ft ritts.. 59 Ji 8 Burns Bres A 132 2 Burns Bres B 41 .. Butte Copper & Zinc 6ji .. Butte & Sup Cep.. 28? .. Butterlck Ce 2814 .. Cadde Cen O ft R.. 13 6 California PacUinc 78 .. California Petrelm. E6 .. Callahan Zinc ft Ld 7J4 2 Calumet ft Arluena. 58 10 Canadian Pacific... 144 .. Case (J I) Plew 5 7 Case J I 1st pf 80 .. Central Leather.... 38 .. Central Leather pf. . 72 li . . Ccrro-de-Pasce .... 37 .. Certaln-teed Pred . 44 Vi 6 Chandler Meters... 76 4 Chesapeake ft Ohie. 65 .. Chicago & Alten... 9 .. Chi ft E 111 (new).. 26 .. Chi &E III (new) pf 46 Ti .. Chicago & Gr West. 8',i .. Chi ft Gr West pf.. 22 .. Chi Mil ft St P.... 29 .. Chi Mil ft St P pf. . 46 fi Chi ft Northwestern 76j 7 Chi & Northwest pf 1 1 0 4 Chicago Pneu Teel. 67 j; .. Chi R I & Pac 48 6 Chi R I & Pac 6 pf 82 7 Chi R I ft Pac 7 pf 95 .. Chi St P M & O 64 !4 . Chi St P M ft O pf 93 .. Chlle Copper 19 , .. Clllne Copper 28 Jb 4 Coca-Cela 54 Ji .. Cole Fuel & Iren.. 32 3 Colerado & Southern 50 7 C Celum Gas & EIcc. . 84 . . Celum Graphophene 4 ., Cel Graphophene pf 1 6?i 4 Cemput Tab Ree... 70&a 7 Consolidated Gas...l18 .. Consel Textiles.... 14U 4 Cern Products Ref. 10314 tee 1700 200 tee 1000 300 3300 300 tee tee 800 400 2400 2300 100 300 1300 100 400 300 400 1200 100 100 GOO 200 2100 400 5300 200 100 100 300 4100 4800 100 1400 4300 1800 100 300 3400 200 1U0 100 100 2600 3100 1000 200 1400 500 4400 2100 800 100 100 3300 70J0 2700 300 700 10400 600 300 3400 303 100 100 100 1100 1300 300 1700 25 3900 900 200 300 200. 100 230 400 5300 100 1400 500 300 900 100 600 100 18 0 200 100 8400 2400 300 500 3100 1200 150O 500 100 4400 100 tee 1175 400 2600 500 1800 300 500 1000 5600 200 4800 4400 13700 1 - 66-106)4-51 98 39 -r 4GJ4 -i- lU4?a -i- 16214 1 1214- 25 -I- ? 61'4 .. 138(4-?- 1 69 - 46J4 108 8014 12 -33Ji- 116 9214 134 38J4 76J4 100 36 Hi 12314 1 41 !4 JOOJi 13714 9314 10514 '4 - 5314 h !4 50 !' 101 li - li 91 14 r 14 4- !' 102 - 14 414 33 1 24 B 84'4 li 414 1 - Va 118 1 49 60 14 502 52 Hi 35 - 74Vi - 1 U 79 p !i 112 614- li 26- !4 10514 . 1 !i 23 20 100Ji 2J 59 14 131J4 1 41 1 6Ji - Vi 28 2814 .. 13 !i 78 -p 14 56 !4 7 li 58 r- 1 14314 14 5!i- Ja 80 1 "38 7214- (i 36J1 4414- 76 A- 14 65 - u ; 9 264 2!'4 I 46J4 1 814 -22 Ji- li 29 U 4614 14 76J4 !4 110 6714- !i 47J4 82 -i 95 . 64!j .. 93 19 :- li 28J4 U 5414 ! 32 U I 5014 1- 84 !- J4 ' 3- ', 16 7714- Ja I 117 14 14U u! 103- Ji I 4114- "4 , 65 -' H ' -3 r ',1 94 16 I 35?, ' 63 14 4 I 121 - 14 115J4- ' 107 2714 li 770 173J4 1 7 - 6614 .- 110 13 'a 2314 r 1512 r IS 811i li 40 - !i 124 i- U 96 , 18U 'i 1C2- A 60 2 ' (314 i -i !i 75K .. 164 1 13 i- 93- 41 la 90 U 4 li 76 42 H 29JS 12, 14 ?. C6 2 15 3 ?M Is 19 - 1 7214- 1 78Ja 17J1 114 ! 7- 1 108 - 4!i . 3'i 9U 34 , i6t f E6 : 1 ICJOJj- ,t 20 ' ' 14 L3J4 r H 1 0 i- 1 U 18- Vi, u '. r0'4 ' 14 42 V2 1 14 . 27 J, 14 1 5 A 900 3600 2 4 Cosden & Ce i "a 1700 .. Crucible Steel C5 2200 .. Cuban Am Sugar... 23 600 7 Cub Amcr sugar pr .. Cuba. Cane Sug.ir. 16 .. Cuba Lane Sug pf . . 35 .. Davisen Chemical.. 64 9 Delaware & Hudsen12l 6 Del Lack & West.. 116 8 Detroit Edisen 107 1 Pome Mines 27 J4 10 Eastman Kodak. .. .770 12 Elec Storage Bat...173Ji . . Emersen-Brantlng . 7 C Endlcott-Jehnson .. E64 7 Endlcott-Jehnson pfllO .. Eile 13 .. Erlu 1st pf 234 .. Eric 2d pf 16 S Famous Plajers L. 81 "4 4 Fed Mln & Smlt pf 40 10 Fisher Bedy 124 5 Fisher Bedy of O pf 96 .. Flsk Rubber iS'a . Frcepert Texas.... 16 94 6 Gen Am Tank Car . 60 U ., General Asphalt... e3?i . . Gasten Wins ft Wis 1600 700 2800 100 200 100 500 20 200 500 700 300 1700 3200 1400 100 200 100 100 3200 200 600 700 300 400 500 53700 100 400 100 600 1200 500 400 900 1500 900 14900 400 r neneral Clear 8 General Electric. . .164(6 . . General Meters.... 13'i 7 Gen Meters deb 7 93 4 . . Goedrich B F 41 S 7 Goedrich B Fpf... 90 U , . Granby rights .. . 7 Great Northern pf . 76 4 Grtat North Ors ttfs 42' Greene Cananea Cep 29fi Ouantaname Sugar. 12'u " Gulf Mobile & Ner. . 14 54 . Uulf Meb & Ner pf 36 . . Gulf State Steel.. . 6 ! j . llablrshaw El CablJ 2 Uonrlen MfET Ce . . 1 9 Ji 500 200 3 Homestake Mining. 73 Vi 300 ,. Housten uii ' 1 Ilupp Motorcar 18 .. Hydraulic Steel.... 7 7 Illinois Central 108 CO Indlahema Ref 4) 2 Inter!) Cen Cerp... 3 .. Intcrb Cen Cerp pf 9 ;ia int Cement 34 J Inter Comb Enp ... 26 Ji D Int Harvester new. U6 7 int Hurv new pf...100: . mt Mer Marine.. . 20 H li Int Mer Mailue pf 83 '-i .. international Nickel 19 .. Invincible Oil Cerp 18?4 .. Island Oil ' .. Jewel Tea 20yj .. Jenes Bres Tea.... 4214 .. Kan City Southern. 28 4 Kan City Se nf.... 58, 7300 500 100 3)0 600 1300 100 14)0 200 00 1400 BOO 18b00 1600 1100 200 2700 800 500 400 10 . . Kansas & Guir... 8 Kaser & L'e. . . 93 9J - 4 RAILROAD EARNINGS laki: nun: .vm wkhtkhn Better Tene lluxtuii, April '.'1 Hi.'-' 17111) liS'.l lni.reai , latin tomorrow ! Miri.li cras iii i'i' t'ualnm inierted '.M'lr'.. ..i. . .,.- ThrJ'J Swniiii' Ve s.is.;.i .in.jis ek i Net eiwr. Incemt 17.M1I 4S4.U.U better, .wr, wriiTi'iiw hut n .S,U.,I eeK and lite iun I'r'cf.i but are vry I-.,,.,,., l'ntieriav Cernnanv. Quarterly rljr 3 Demtc bar a I rr New Yerlt today RVli "rel: ""r40- Hn -l.li den, lie price waa al I rxr cent nn cumulative pr.-ierira no. cent en nen-cuniulallve preferred, both bio April ..'3 te stock of record April nir. Osles In t 8TOCK Itlali Lew 48 101)4 31 19)4 143 54)4 1714 32 62 17 13 48 152)4 119)4 8914 6314 40 81 75 18)4 2114 74 58 48 4014 6514 29 27 29 67 2014 118 13114 29)4 14JI 34 11 14 37 24 58J4 104 2114 15J, 141)4 3)4 36)4 93)4 12)4 6 17)4 92 66 n 71 33 58)4 69 23 Ji 27)4 10614 58 42)4 7)4 7714 30)4 11)i 2 7Ji IBJi 137 14J1 10Ji 70)4 58t4 63 56 8 14)4 41 H 10)4 95)4 85)4 30 67 38 38 ?2!4 ' 46)4 914 60 33 85 184 68 107 82 29 04 E9!4 124 39 '4 3314 102 102 16 li 78 33 lis 55 7 47 63 14 30 1 i 31 45J, 5 8)4 12 Ja 76)4 3214 91 25 57 i 107 9a 17714 11414 79 40 Ji rs 121 li 109 V, 5 5Ji 3 11 45 Ji 41 Ji 35 )' 28)4 129 69 31 44)4 11 61 21 138 76'4 23 143)4 17 i3!i 49 36 Ji 4'i 48 J4 6)i 65 J4 103 40 45 98Ji 1 1B 65 Ji 16U 12 Ji C4 12Ji 9Ji 32 13IS 79 11 20 23 64 98 b2 70 10J4 20)4 47 10 !i 15 7Ji 38 43)i 53 1400 .. KelK-Sez Tire 49 200 S Kelly-Spg T 8 pf.101J4 1 00 . . Konnecett Copper. . 31 900 .. Keystone T 4 R. .. . 19 400 6 Krcsge B B 144 1000 .. Lackawanna Steel.. 5514 200 .. Lak0 Er8 ft West.. 1714 10114 31 19 143 5514 17)4 33 62 17 13 49J4 152)4 111)4 89 6314 42)i 82 75 18Ji 14 !i in ' v 2 li I iuu ., LIKa Krt W nf 3314 100 31,4 Lehigh Valley 62 1800 . ixiewe Ce IB 1 Left Candy 13 .. Loese-Wiles Biscuit 49 Ji 13 Lerlllnrd Tobaceo..1521i 7 Louisville ft Nash..119U Mackay Ces 89 1 Mackay Ce pf 63 14 .. Mack Trucks Inc.. 42 7 Mack Trucks 1 pf.. 82 7 Mack Trucks 2 pf . . . 76 i5 Mclntyre new 19 Malllnsen ft Ce 2114 7 Manatl Sug pf 74 Manhattan Elec Sup 66 7 Manhat Elev Guar.. 4914 2 Manhat Shirt 4014 6 Mar St Ry pr pf . . 6514 Mar St Rwy 2d pf . . 30 Marlln Oil 28 2 Martin Parry 29 Max Moter Class A 68 . Max Moter Class B. 20 8 May Dept Stores.. 118 12 Mexican Petroleum 1 32 14 100 700 200 200 700 100 7700 1100 300 2500 200 100 4800 6500 100 1000 E00 500 100 6500 3300 200 4900 14 li 21)4 49 4014 65 29 20 29 67 20 118 m 2914 15K 34 11J4 14 li ! li 14 Ji 100 Miami Copper 294 22221-"0 " StaUsCerp. 1514 5900 2200 5300 200 500 tee 109 3900 200 400 200 150O 100 1100 9200 400 2900 Mldvala MmI 34U Minn ft St Leuis.... 12 Me Kan Tex (wl) 14)4 . Me Kan ft T (wl) pf 37 .. Missouri Pacific... 24 ; Me Pacific pf 58)4 1 Mentana Power pf.104 .. Montgomery Ward. 21 n National Aem 15J4 National Biscuit 145 .. Nat Cen A Cable.. 314 Nat En & Stamp.. 3714 6 National Lead 9314 . Nat R R of M 1st pf 1 6 .. Nat R R of M 2d pf 6 : Nev Cen Copper... 1714 6 New Yerk Central. 92 6 New Yerk n Kt T, fin Vl 14 37 -24 58)4 104 21 i5n 145 93)4 16 6 68 700 300 6 N Y Chi ft St L. 2 pf 71 14 3? 214 New Yerk Se:." 3V 100 inn .m - .... i .-cw Yerk Deck pf 58J4 6 N O Tex ft Mex. ... 69 . New Yerk N H ft H 24)4 2 New Yerk Ont ft W 28 7 Norfolk ft Western 107)1 3 North Amerlcnn SQ,a 500 3800 900 3000 14800 1800 kJ 8 Ner'h American pf. 42 r Nert'' Amer rts ... 7 1 500 "uiuutn i-aciiic . . 1 n't, . Neva Scotia S ft C. 30)4 2 Nunally Ce 11)4 . Okla Pred & Ref... 2 . Ont Silver Mining.. 7J4 . Orpheum Clicult... 18J4 8 Otis Elevator 137 Otis Steel 15 1. Pacific Devel Cerp. 11 C Pacific Gas ft Elec. . 70 V- 3 Pacific OH 58 6 Pan-Amer Petrel.. 64 6 Pan-Amer B 5714 . Panhandle 8)4 . Parish ft Blnuham. 14)4 2 Pennsylvania R It. . 42 Penn Seab Steel... 10J4 7 Penny J C pf 95 5 Peeples Gas Chicago 86)4 . . Pere Marquette... 30 6 Pere Marquette pf. 67 3 Philadelphia Ce 3814 2 Phillips Pet 38 . Plerce-Arrew Moter 2314 . PIcrcc-Arrew Jlet pf 47 14 .. Pierce Oil 9 C Pitts Ceal 61 .. Pitts ft West Va.. 34'4 100 100 1200 100 100 100 200 4000 100 5600 1200 400 300 100 4100 5600 100 1100 2100 100 200 600 1900 1600 800 1003 5300 300 (i FlttH & W Vn nf 86 86 ue ic, pea creek Ceal. 6300 5 Pestum Cereal . . . 600 8 Pcctum Cereal pf. 100 .. Pressed Steel Car 18J4 71 li 108 18)4 71 14 107 J4 82 - 29- T9U 127 3914 33 Ji 102 102 16)4 78 23 154- 56 7J4- 48 Ji 1. 63 - 14, 30 32 46 82 2700 .. Produce Refiners. 31 31 200 6 Pub Service of N J 89i4 13100 s Pullman 127 200 .. punta Alegre Sugar 39)4 1400 2 Pure Oil 34)4 200 S Pure Oil pf 102 200 8 Railway Steel Spg.102 1500 .. Ray Cen Copper.... 16 700 4 Reading 78J4 300 .. Rcplegle Steel 33 100 .. Replete Steel rts.. Mi 1400 .. Repub Iren ft Steel. 56 900 .. Republic Meters 7U 6100 .. Reynolds Tobacco B 48li 14005.20 Royal Dutch N Y.. 63 400 1 St Jeseph Lead 140, 1500 .. St Leuis San Fran.. 30 1503 .. St L S W 32 2100 .. St L Southwest pf. 6 100 .. Santa Cecelia Sugar 5 200 .. Seaboard Air Line.. 8U 100 .. Seab Air Line pf.. 12Ji 600 .. Sears-Roebuck .... 77 15800 .. Sinclair OH 33 3500 6 Southern Pacific... 91 2400 .. Southern Rail 25 600 .. Southern Rail pf . . . b7 2100 4 Standard Oil of Cat 108), 1135 5 Standard OH of N J 180 200 7 Stand Oil of N J pf114 100 7 Steel Tube pf 79 1100 2 Stiwart Wamer Spd 41 14 830 .. Stromberg Carb.... 56 32400 7 Studebaker 122)4 100 7 Studebaker pt 109)i 3100 .. Sub Beat Cerp 6U 300 .. Superior Oil Cerp.. 5Ji 1100 .. Sweets Ce of Amer. 3Ji 500 . . Tcnn Cep ft Chem.. Ilji 5200 3 Texas Ce 46!i 600 .. Tex Gulf ft Sulp.. 42)4 8100 .. Texas & Pacific... 36 1100 1 Texas ft Pae C ft O 28 300 . . Tidewater Oil 1 33 800 6 Tobacco Product.. 69 Ji 400 . . T St L & W ctfs B. . 31 !'4 500 .. TStLAWpf cfsB... 44Ji 4500 .. Trans-Cen OH 12 U 300 C Union Bag ft Paper 63 7700 .. Union Oil i? 800 10 Union Pacific 139 200 4 Union Pacific Df. .. . 76r 300 .. United Alley Steel.. 34 . 300 S United Fruit 144 400 .. United Rwy Invest. . 18'4 100 .. Unit Rwy Invest pf. 33'4 3600 C United Retail Stores 50 BOO . . USCJIl'i Fdy. . 26 '4 200 ..US Feed Products 4Ji 900 .. U S Ind Alcohol... 49 900 ..US Realty ft Imp. 66 1300 .. U S Rubber C6 300 8 U S Rubber 1st pf . . 103 2100 ..US Smelt ft Ref... 41 100 3' j U K Smelt & Ref pf 45 8300 S U S Steel 99 400 7 lT S .Steal pf 118U 700 2 Utah Copper 66)4 103 .. Utah Sec ) G U 2100 . Vanadium Cerp ... 43 600 ,, Va-Car Chemical... 34 Ji 1900 .. Vlvadeu lnc 12 100 .. Wabash 9 Je 1400 .. Wabash pf A 33'i 2400 1 Weber ft Hcllbrener 14 900 3'i Wells Targe Exp.. 0(4 1500 500 2600 500 100 6100 300 103 100 1100 4600 200 100 5400 100 300 , 100 Western Maryland. 11)4 . . W Maryland 2d pf. 20 . . Western Pacific... 24 fi Western Pacific nf.. 6414 7 Western Union Tel. 99 4 WeMIng E & M 63'i 4 Wckt E i M iHt pf 71 . . WhecllnB & L E.... 10"4 . . Wheeling & L E pf 20J4 4 Whlte Moter 48 . . White Oil Cerp.... 10 . . White Oil rts )i . . Wick Ppenc St Cerp 15 . . Willys-Overland ... 8)4 Wlllvs-uvtrlam! pf. 38 Wilsen ft Ce . . 43 li 4 WorthlnKten Pump. 53 I Kt-dlvldewl t Kx-rlht, in Weel Market Federal Reserve Ratios Th Cemmtntal llul- lVohlilniten. April L'l. rtotle of total it. will n i "There Is mnre terves te net ileiiealt nnd I'ederal In the wel innrket thin i note lUbllltlen cemblntd rer ma .. .... .1... 1u ., Mj.,11, Aral I,uup.,a h.nlr. an l.n ..! ui wic nmitvcfc i. v.v.v.. v.m. . H.en, .. ...e aiuir,, h.ive net ahewn any advance, of April IV, umpared with firm The greater part of i vvecu and a year ae, follewt April 19 , . 7S.4 , . K.'i.H , . 7(1..'. , . 74.0 . . I0,H . . 7(1,7 .. 74.'.' . . 74..'. .. 71.8 April 12 7.1.0 Rfl.a 7U.4 iy.v 110,1 77, U 70 I 7.1.1 72.7 SH.I1 fr-'.n T4.0 nT Iver was uutliaiig,d In I Si'ifrMnoliee' " tb'1 at OOHn per flne euncj " irranoiace .. 1D.Q aQ"ce S- .'...,J1 Ien' -rat l JrfftVV 11. unaltered at 84". ' I TO.fe'?. , ' f ..4 tafk A fW. T RADING QUIET IN V:80 Ntt P. r. Chge. THE LOWLSTOCKS Lehigh Navigation Made New High in Face of Ceal Strike e -r V4 Vt .. 14 1 14 U .. .. 1 114 14 - 1 1 Contrasted with the recent active days the trading In the lecnl market was relatively light. The dealings were well distributed, indicating a steady brendcnlng of interest In the IJ stocks. Heeldes, the whole list rcta ncd n i-treng tone, ntul with few exeeptienu higher prices were registered. This wns particularly true ns te the inactive steckn. On the ether hand, most et the recent nctivc lenders moved slug gishly within n narrow scope. The abundant supply of money nnd the apparent insatiable demand for new investment issues unquestionably sup plies n powerful bulkhead te tlie gen eral list. A moderate overflow Is re flected in the wider inquiry reported by the leading Investment houses for many of the bcasencd dividend-paying local ehnrcs. , In the mere popular issues Pennsyl vania Railroad was about the only one te retain any semblance of activity and was freely taken at 42. On the ether hand, trading in American store", Philadelphia Electric. Philadelphia Rapid Transit nnd Electric Storage Battery dwindled te small proportions. American Stores regained 1 'A points of the reaction buffered lncc Monday. Philadelphia Electric shores remained ntntlnnnrr nml P. It. T. continued te 74 - 14 63)4 5)4 )S . 1 - n 1 - )i 1 14 n swing between 32'fc nnd 'J. Lehigh Navigation came in ier n n tien In n further ndvunce te 75i. "ink ing a net sain of ever .1 points for the week, despite the continued strike in the coal regions. Lehigh Valley, nnethcr coal read, moved up te 03, nn over night gain of "ft. In the inactive stocks AN est 7crev nnd Seashore ndvanced n point te HO, disclosing n very sennt floating supply of that stock, which was net unnatural in view of the quiet nbsorptien which lias been going en for some months. Philadelphia National Rank was up li points from the InM sale nt 'M- Phil adelphia Insulated Wire remained pegged nt 340J. A '& -point advance in American Riiilwajs preferred was In response te the continued Improved curnings of thnt system. American (las was iirin nt (H. Yerk Rallwnjs com mon nnd preferred shaded fractionally, nnd Drill lest n point en limited offer ings. 114 71)4 in 352 5814 114 69 24)4 Vt 28 14 10714 1 E9 1)4 42)4- 14 7 r 77'4 ! 2- 7Ji-IBJi-137 15 10Ji 70)4 58J4 64)4 t-56- 8J4 14)4 42 8614 30 V 67 38 -38 22 -V 47)4 9 61 14 14 1 14 14 Vi 14 ' ti !i Philadelphia Stocks li 5 114 '4 114 1:15 Net HlKh Lew 1. M. chue. 270 Am Str...lll!al1t H-'jI Is 10 Am fins.. 04 01 01 .. 10AniRyspf41i 41 U 4lfc j ITitAm Teb..l40. 1404 M0"4 -St LT.tAm Weel. .1 m M ' ..."itBald Lec.H7i 110i 110 li. 10 Rrlll .1 G. 43 43 431 lOOtChllc Cep 18? 18 186.. 25tCens Gns.llSVs 118 1181 , 200tErle 1 14 ljf f Kltden Mtrs 12 12li 1294 .-.OtKenneoett 31r's 31 31 Vh 3.1 Kev Tele. 0 0 O'ft 100 Lake Sup. 10 10 10- U 1 14 1)a " VI T Ji 1 314 1 1 34." Leli Nnv.. mil 100 Leh Val.. 03 8 Penn Cent Light pf. rr. 502 Pen nn It It 42 flOriil'a&AV 8' HO Phil Ins W 34"i 1- 03 ', -f "4 03 55 . . 41.. S 34 i . . S."s 10 Phila Nat Bank ..305 305 SO.) nnPlilln Ce.. 38 38 3S 3. 14 14 ' 14 Ti le 45 de cum pf 38V. 38 3S H 200 Phlla Elec 283'. H(. 28-11 342 depref.. 20 2!)'.. 20.. 770 Phlla R T 32 32 32.. 10tStudebkr.l21 121 121- 200tTex & Pac 35 35 35-f-l lOUnlenTrac 41i.j 41','j 4lfj. SO V U I.... 44'j 50 de pref . . 53 100 f Wheel & L E pf... 20 10 W .ler & H 30 150 Yerk Rwy 22 4 IV 41U.O- i's 53 53 lini , 30 " 20 ft 30 1 wi; if, 8J4 - 12JA 76 JS 32 91 14 25)4 57 J 4 107 h 179 114)4- li tN'et ehRnite tnnd? by comu.irlaen with last salij en New Yerk Stock LxchnnKC, HIlI-ADIXl'lIIA nONDS 2000 Liberty 4th 44s '38.... IKI.8S 10000 Interstate Rwys 4s... lets 45 3000 Phlla Electric 1st 5s.. lets 07 KIlK) Phila Electric 1st 5s 07!,i 3(100 Phlla Electric 0s 103. 10000 Cnited Railways 4.s 55 14 ' 'i 2J4 "9 1 41 !4 li T5- 121 -: 109JJ 614 5Ji 3Ji 11 Ji 46)i 42)i 35 2854 133 69 31 54 44 Ji - 11 Ji r 63 94 -21 13934 76 Ji 34 I 144 I -I 5014 f 26)4 - 4Ji 48 r C6)i C5J4 103 5a j 40 45 -J 99 J4 J 118Ji 66 -16)4 43 -34 Ji -12 9Ji I 33 -14 '4 t 80 M J 1 FOREIGN EXCHANGE New Yerk. April 21. Statements, cabled, expressing confidence en the part of the Ilrltish Premier, nt lionen. re 54 garding eventual progress in recenstruc tien or international nnnirs. were re spensible for rallies In the foreign ct flinnge market nt the opening today, including -ccnt advance in sterling; 3. in francs; 3 in Relglans; 4 in lire; 3 In Danish nnd guilders; 10 in Norwegian, nnd 2 in minks, compared with yesterday 'h final figiue". In tlin middle of the second hour stcr. 114 1 '4 14 ' ling cables were quoted at 4.42 and de- I ?4iiiniid ut 4.41; franc cables ).::, ; 1 ' rhis'ks !.20"i ; liie rabies 5.401 , checks Ji 5.40' ; minks .30. j 1 Ji I Tin market was streug in Montreal 1 today, with 1 he premium en New Yerk Vi fundi down 2 1-10 per cent. The dis- Vi 'count en I'liiimlian funds In New 'v.uik wan lediueil te the minimum 2 per cent. Tlie Central European exchanges were dull tednv : Quotations follew: llulga- i rlnn. .70; Rumanian, .74; Serbian. ?,,1.34; (Vedio-Slevnklaii, l.liN; Creek. I....1 .1-.''. 1I..I!.,!. (VI7-. . l'!....l.l. JTP 'l.ftS; Austrian. .0135; Iliingnii.in. .13. I j -s Yi:sTi:nuAvs clomne (.i'otatiens li Kirlliu; rrmics I.tre Clullilen .? I)fiiiinJ . 4 41'. 11.7 ;, lis JI7 hs , Calilci . 1.41 'a H ''7'j .', IUU :i7.l 2 TOUAV S OPHNINCJ l)l'OTVTIONS . 1 Sierllnic 1'rincs Lire C!ullilr-r ' 14 Ulrmnna . 4 41 "j It MO r,.40lj .IT On I 94 j Cables . . 4 41J t'.ai 0.41 37.1(3 LIVESTOCK QUOTATIONS lldHt lluffiile. N. V., Aurll 2LC'A'ni.r. I KecclpiK 22.1 heart. .Sternly iu Htruiiu ( ALVLS lleielpts. 2001) head, Stead), .( j HuliS llecelrtH (HIM) head: I'.li 2.1e lew.-r Heavy 51l1121; mixed veider lUht in ( il pie $1121 few sn ;is. riiuvha. 6111 tl.SB. HlaK, $4'I.1.HI hllKi:i' AN1 LASIIIH lteeelMa .110(1 hend. i .1(Ki(Sl hlvlier, wejl Irtinbi, Usui 10 T.1 clipped lumliK, $UW1,1: earllnirH f4t la. 1 1J4 '4 20 -1 Ji 24 1 , MJ4 -J 1, 98 Jj , , 63 r 1 71 . 1 weiii, r. js.-iu'U", e'"-. ,-un, iin'ti uneep, bijb.50. I'lttahnrali. April 21.- HOOS Ilecelpin, 8000 bend Slendy, Heavlea. 110.tt.1Hij 10 DO, he.ivy and Unlit erKtr, $110111.". Pine. $10 7B 10 HI. uuprtl VH 1.AMT1H tlir(nl innnl,...! 10)4 ' 10 - ii 1 15?4 - i ; 30 -43 A" 53 - Market 'alc'ady. Tep ah-ep. $8 23, top lambs! ' CALVnH Hccelpta, 2501 head, Hleaily, I Tep. $10.30. j MONEY-LENDING RATES ' NfcW MHIK -.Meney mi till, lull! ms,ei of cullateral npened tudii) ut :pj pir inn 1 for luidlnu and runevvliin 1'IIII.ADKM'IIIA fall ,1 ur f it t.me. 5 ur (inl. cnmmcrrlal inter, t ire,j tu i,x menihs. 3 te r,'i ier tint. BANK CLEARINGS ltescrva twelve J'ed. ... ayniern ae Dig provleua Hank Llearlnm today, lemparcd vv Ih tor ter tor rcapendinic dav last lv,e venra: IB22 11IJ1 1020 i?"V-:.ll5,i)illlSIIe,,,ai7u,-niM,-""-l" ilialen .. (l.'I.OOO.IIU IU.11,',3 Mis 4ll,."i7N,iii7 N Verk.SD-'.luO.OOO B.IS.'Jll.aSO 04w, 111.1, lue Beest Prices en Steel Products 1021 April i'2 71 0 ti.i.U r.4,K 07,0 4U.ll 4A.7 l.l .'.7.0 :ii),H 42.3 M I rittkburxh, April 21 -1'ilcea en l,nri, piaiey, Njiitveu. nana hiiu aneet pure urre advanced from $2 te $3 a ten by a number of the smaller mills In the I'lttsburKh dig. trlct today. Th opinion vvu expressed that the advance would held throughout the ir,..i '"' when the jcQLitrlk, la ever and Hint tlieyj are asalii In uip market for new buneji. ' $60,000 Commonwealth of Pennsylvania 5 Per Cent. Bends Due August 2, 1951 Coupon and Registered Bends Interchangeable Tax Free in Peniuylvania Free of All Income Taxes Legal Investment for Trust Funds Price: 117.00 and Interest Te Net Over 4.00 Per Cent. Biddle & Henry 1 04 Seuth Fifth Street Philadelphia Tax Frttm in Penn$ylvania Exempt from atl Federal Income Taxet $500,000 City of Bethlehem, Pa. 4Vz GOLD BONDS Dated Jan. 1, 1922. Due Serially Jan. 1, 1926-1952 Interest January and July 1. Coupon bends $1000 denomination. Principal registrable FINANCIAL STATEMENT (a officially furnithed) Total Assessed Valuation 1921 $62,749,128 Actual Value (estimated) 88,000,000 Total Bended Debt (inc. this issue).... $3,720,000 Less Sinking Fund 237,000 Net Bended Debt (inc. this issue) $3,483,000 Ratie of Net Bended Debt te Assessed Valuation.. ..5.55 Population, 1920 Census 50,358 PRICES TO YIELD 4.10 Harrison. Smith & Ce. INVESTMENT SECURITIES , 121 SOUTH 5TH STREET ' PHILADELPHIA LOMBARD 6100 4VEW SNTur Safest Funds for Travelers Avoid the risk and worry of carrying currency by using our Travelers' Letter of Credit issued in Dollars or Pounds Sterling. It is readily available at the offices of our 3000 correspondents throughout the world. IloeUlct Sent en Request ' Brown Bvourev EST. &Ge. 1818 FOURTH & CHESTNUT STREETS New Yerk PHILADELPHIA BROW", SHIPLEY & COMPANY Founder! Court, Letbbuy Ofici for Trarcltri Londen, E. C. 123 Pall Mill, Londen, S. W. I Netice te Helders of Tennessee Power Ce. First 5 Bends of 1962 Chattanooga Railway & Light Ce First and Refunding 5 Bends of 1956 Nashville Railway & Light Ce. , Refunding & Extension 5 Bends of 1958 t Please consult us or your Bankers cenceniinp; the advantageous i efTci-ri i of exciinnne for your Bends mndfc in connection with the Pln for the organization of the Tennessee Electric Power Company. E. W. CLARK & CO. 321 Chestnut Street Telephone Lembard 4200 GEO. A. HUHN & SONS .Member-, of the I'lilhdelnhln, xrw lerk and (lilrnce hte(k Kxihanuen e nrk t'nttnn I'm (inner STOCKS AND BONDS bought and fceld for cash or carried en conservative margin. Ilrllevue renrt Ill,l I41H Walnut Ht. ., Ill llreaduuy EDWARD LOWBER STOKES & COMPANY Investments 20 Seuth 15th St. ., - W?AasLPH,A- J Bosten Leng Island R. R. Ce; Refunding 4s Hue March 1, 1010 Guaranteed rrinrlpal nnd Inlerft by the Pennsylvania R. R. Ce. Particulars upon application A. B. Leach & Ce., Inc. Investment Securiti'i 115 Seuth Fourth 5t.'l V i t f f h.MS. , ...i'M?V&ffrit ,,r-A J-rf.iStiA.fi h jpJL.. jdVflWlili AM.
Significant historical Pennsylvania newspapers