,f?h ftir.tf Wfl . ;i i fe,::fetMMii;SM UlftfyJ .? t -it itfc. r- , P. W , i i.s ! & . W- If . t tf" 51 W.., T BV Eft L fit V '.- hv - 1, Ki x &V $ ' e y. i r t r r s r. t w ,1 &v 1 m &.V vim WC pi $456,000 Ann Arber Railroad Company Equipment Trust Notes fi. Doled January 13, 1020. Maturing $32,400 each, January 13. 103:1 te KUA. Iiiclnlr. Interest payable January IS and July IS. Coupon Nete In denomination of alOOO, rcclstrrable hs te principal U nnly, Redeemable as a vhole ut 10J urmn (10 tliijs' netUf. nVARANTV TRVST COMPANY 01' MttV OHK. IIUSTr.i: Original Matured issue. . $766,000 100,900 $685,100 Amount outstanding Held by Director General and te be subordinated te remaining notes 228,800 Balance new offered $456,300 These Notes are a direct obligation of the Ann Arber Railroad Company under an Equipment Trust Agreement between the Director General of Railroads, the Railroad Company, and the Trustee, through supplemental agreements, 33 1-3 of the Notes of each maturity, held by the Director General, are te be stamped as subordinate te the above Prier Lien Notes. Upen the subordination, these $456,000 unstamped Notes will be outstanding te the extent of only about 58 of the original cost of the equipment en which I hey are secured. The equipment consists ef: 300 Standard Bex Cars 4 Sante Fe Type Locomotives The ANN ARBOR RAILROAD reports net earnings for the year ended December 31, 1921, of $920,404, which is approximately 2J4 times interest charges. The Company has, ever a period of 26 years, earned its fixed charges two times, and all improvements te the property have been made directly out of earnings. The Company further reports that it has no floating indebtedness. The Company operates 292 miles of main line and 109 miles of siding from Teledo, Ohie, across the State of Michigan te Frankford, en Lake Michigan, and has three important railroad ferries connecting it with Milwaukee and Canadian points. The Company makes connections with the CHICAGO, MILWAUKEE AND ST. PAUL, the CHICAGO AND NORTHWESTERN, and the CANADIAN PACIFIC RAILROADS. p it 1 v v. .-Mwlnrhi Alflil Maturity If Id Mnlnrit. Tlelil January 15. 1923 5.60 January 15, 1927 5.80 January 15. 1932 5.80 " ' 15. 1924 5.60 " 15, 1928 5.80 " 15, 1933 5.80 15, 1925 5.75 " 15, 1929 5.80 " 15, 1934 5.75 15, 1926 5.75 " 15, 1930 5.80 " 15, 1935 5.75 15, 1931 5.80 Subject te prier sale, we offer these Notes, when, as and if issued and received by us and when prier lien has been established as planned. Delivery will be made of West End Trust Company Receipts exchangeable for definitive Notes. SCHIBENER,BOENNING&CO. Investment Bends 1615 Walnut Street Philadelphia Members Philadelphia Stock Excluiiigc Hell. T.erut 1400 Keyetenr. Rec s:e Ml Intormitier. and std.t.stlcs hac been obtained from sources which we believe te be reliable and sccuraf, but they are re: (TJaranteed. icw Issue 750,000 Intertype Corporation Ten Year 7 Debentures Dated April 1, 1922 Due April 1. 19M2 Interest April and October 1st THE EQUITABLE TRUST COMPANY OF NEW YORK, TRUSTEE Price 98 and Interest Callable at 103 During First 5 Years and 1 l Less Premium Yearly 'i Thereafter. THE Intertype Corporation of Brooklyn is one of two companies in the world manufacturing approximately all of the line casting (composing) machines used by all newspapers and printers for rapid production of type by type writer action. The Company's audited figures of January 1. 1922, show quick assets of five and one-half times the total debts. The Company has no mortgage obligations and the proceeds of this issue are intended for working capital. In 1921 net earnings after taxes were approximately six times the inter est charges en this issue. In 1920 net after taxes were approximately eight times such charges. The Corporation is paying dividends en all its issues of stock first and second preferred and common; and the market value of such stocks is at pres-, ent mere than three and one-half times the par of this debenture issue. The Company's business is new at normal capacity, with March, 1922, the largest month in shipments and profits in the Company's history. The indenture provides that the Company shall maintain its quick assets above 150 of all debts, including this issue, and that no mortgage may be placed without ratably securing this issue, (acquiring future property with a purchase money, mortgage is permitted). The Debentures arc offered "when, as and if" issued and subject te the approval of our ceunsd. 7'leie detuilcJ information en request. SWARTWOUT & APPENZELLAR Member New Yerk Stock Exchange 141 BROADWAY, NEW YORK TELEPHONE RECTOR r.670 ,.W y h..e ret rfuarantcid rf i" fry! 8' - h m - th H JHJ" that or- whici we re iej i vuujis!, s StrdrU Sros. & Ce. ' f tthllr UrUttu trurtrlM txtliartat gutUHrtg. yrflU. Lighting 5s, 1967 'St. Leuis & Sub. 5, 1932 hPr, Sec. 6s, 1927 jeCe.G. fie El. 5s, 1948 I Utut M2S-1-S-3-4 M U NewTem Beetea $12,000 Life Insurance at Age 35 for $10.08 Per Menth In an Old-I.lnt- 4'eiupan Send lour lute nf lllrlli nun l.eiini Whiit 10 a Meulll Wll l)u far oil PEARL & SUDLOW AGENCY I7U1 tlNANCK lU.fMi.. I'HIC.A. "Dettrndulile Innurunre Since IN03" GAINS AND LOSSES DIVIDED ON CURB Meters Again a Streng Feature. Goldwyn Pictures Advances. Eastman Kodak Off Nv Yerk, April 21. The market en the curb was krcgu'nr ilurfng the greater part of the day, price move ments being about evenly divided be tween gains and Jericr. The most Im portant features however, consisted of accumulation of arleus Issues for I special purposes. The meter blocks were among tnc Rtrengcit features. Durant Meters moved up te the new high record of 3S! before neon and the liullnna nliarct were traded in at 10, nle tt new lilglt record. Itee Motertruck was active but without material change In position. Oelclwyn Pictures was nnether fea ture and advanced te 8 en a large vol ume of business. Kastmnn Kodak started nt 78 and j lelflvtl te 77' en n few transactions. INDV.SmiALS IIIrIi lS'ine Afine I'eal ! lOuOArme l'acklns .... 4li lOUAIum .lftr ins CO." C S. PATTON & a A ('IIKSTM'I' HP. ... -'eer le n i "M-'-K STKVKVstl.S Hende nnd lnrk Iraimlit mid Mild. Mrmlxe i'hM, hierk Kxthanwt. tee Am l.e.lth l:jn Am 1W Mch .. 1i)0IUnn 10(1 Carlisle Tire . seu Out Ter Has .'nu cnira .MllIe , , 11! 7 3" loefolum l.mer . ... O.'i Mhi Centl Mtr 8i 1U0 I)ur .Mtr Ind .... 1(1 nnu liur Mtrn ns's t.UO nimtimin Kodak . . 7H 10M Klee Kter Hat. .. 435i ."OH TrontenHc Mtrs .. 10 100 (loedjpar Tire .... Mtlt 100 Ooeiljcnr Tire l(.. U7 4100 lleldnyn I'le .... (00 (r Mtm Ill l!P(l Uj.y lel rret . .11 UCOHetden Cneiii .... M) .'100 Hud Ce prif ... . 1NH 1(I Hud & M.inliut . . 13U '-no Hud t. .Minlmt pret 4T W Int Ituhher N, S400Jul Kajter 30 S r.dO Llhby McS'cll 2, 1S00 I.lnc Mtrn A 1 l(ie Mcrrcr .Mtrs ya HP0 I'atk Mtr im. tiM Phil .Merrlx lft'I loet'jrcno Mfu 10 ' 12WU0 Hndle 34 32(1(1 Itudlu prut 3, T3 ItettcTiiAin Hank . . 82 1300 Hen Tire Hub 70 lliiO Keu MlrM 24 4 J(ie Mfi(.ir MfB 134 2UO Tenn Ilw y 2a 100 Tub l'red Exy ... 0 2.'iTuJd Shll 74 1!'(W V H I, It 11 11 100 11 b L & H v! .... It, I'm) tl a lleffmunn .. 214 HiOii United Het Candy r. 100 Union Carblde . . . 57U , STIND.YKD OILS 10(10 Anulu-Am OH .... 204 ion Alliuitla Lobe . , 104 GlOluckeje V li ex dlv till MiOilrnn Oil B2 10 Ohie OH 3U(I 10 Seuth l'ann OH ...1U0 2eu(i stand Oil Ind . . . UU3. 7U0 Htnnd Oil M w I. S2 20 Stand Oi: N V ,...31U 10. Vacuum Oil 410 :(.! Stand Oil of Ohie. 472 IMlETENUIStT OILS 2i-0d Allied Oil 3 200 Arkunneii fat Oa 3H4 3UU0 lloena Oil 17 2Uh Husten emlnc . 77 34(10 Curlb tiin f.'.i i.(e niiea ecrv tow) .2aL' 7oe Cul Serv Jl ctfa 24 750 cttie Hcrv si 1300 Columbia Pet , 100 Cranie Hvn :i 100 Duquesne -Vi r.-'UO KtiBineers I'et .... 03 1000 Federal OH l'i 100 lVr.Hland 13. lOOUlllilund Oil ..... hH 2.'00 Olenreck Oil l,"i 3000 Hudsen Oil 30 1 en 43 1BH 12 (I 30 en HI, as; 77H, 104 ISIS 43 S 20 2 Hj 2Vj 10 lj 13lj 3J 4 hi', 03 1 74 Is :e,4 r5t? 0 iei U7i 32 300 100 034 hi 31U 410 170 n4 HI 7H "ft. 211 24',i O'l 1 3 17 11J1 1 0(1 ?." lll4 II 41' 45 I?4 74 r.W J 100 Int 1'etrel tee liirey iet 104OO Utlngiten I'et . 2100 Lsens Pet 100 Marland Ilex ., 1H00 Mnracalbe oil . eOOJlJrrltt Oil DOOO .Merldan I'et . . . u 100 Mexico Oil .. .. 12000 Mtxlce He.ibe.ird 10O Midwest lUt ... 2(l(i(i Sleuntaln i'red . tee -Mutuul Oil 100 Ne Ce Oil ?0OO .Veble ysue Omar Oil soe Premier 300 1'enruk fill 1O0O Hed Hunks 20 3OU0 Hed Hunk Oil .... 4.1 100 Hum Cens e'a !I0") Halt Crmk Pred.. 14t uoe Halt Crcl: Cen... 13't 1100 Hlmms Tet 11 ' .TlOOHkelly Oil 0U 200 Seuth Pet $. Itef... 24 100 Tex Ken l'i 13100 Texon C3 20(ITIdul Osftse N V.. 11 2O0 Victeria Oil new . . 07 4000 V Oil 14 MINIMI 200 Alpha 3R 2UOO HI Iyds 22 3170(Hen Alaska loe 3000 Hosten & Ment ... 22 430O no . Jtent Cens.. Ml 4ueii Calumet & Jcrome. 28 0" Canada Cep r.n 3ue0 Candelarla Mln ... 27 20e Cens Cep Mlif .... 1' '100 Cortex Hllver 04 "000 I ld Hxt 20 1000 Cens Nev Utah . . 4 i00O K.ureka 3d 200 First Nat Mln 110 100 (iadsen Copper . . 1 loeociold Cens e 200H Celd rierenca . .. 30 VOOOCleId Zer.n 14 t oeo Harmlll DhlJs ... 12 SOO Heela .Mln r.'t 1 oe new e heuna . 2'nioe Indpt Lead ... 2000 Kne Dhlile IOOii MaeNainara . .. seen Mortncten Mln loe Mether Iyida Clt 30oe National Tin . . ,(iOONnada Ophlr . 1000 New IUy .... 400 Nlp'sslnc . 1100 lluv Hercules .. OOOe Hex Cens le lO'i,. Hiixer nale . . . n i.IOe Slinnn H li ....!! loco Se Am V A O .. U, lOoe Kteward Mln ... 14 loon SupurBtltlen .1 line Tt ik Huitlies ... . 31 uoe Trl liullltin . 13 .line Torepah UHlde SI 300 Tonopah Uxtenslcn 10 loe Tjelumne 70 loe I'nited lHtuni . . I ' lueO Vokane Mines 111 HtlNDH it Ll'i 34 & 80 10li 11 2i 204 H U 4 43'4 1' 11) ill r. 20 33 ili 144 134 11U 04 J1' Oil 11 en is 1 P.M. Ae lfti 12 30 li 2' 2 03 M4 10 3M4 77 4 IM. 10 13!, 37 b J 4 00 1HI, 13'. 13 4 3e 24 1U'4 16 30' 3. 1.4 hi 03 71 HI 2.5 r., 374 204 ie4 i'7'ii 32 300 1110 004 bi4 3113 410 470 If t t 2I'4 Od :, ft 3e 104 "A 2 O'l ii'i 11 ! 444 24 I'm 23 20 4.1 ' 14i 134 114 04 24 C2' 11 0(1 IS 3S hr. 21 hi 10O 3'l 3 II 13 '; 31 3S (14 14 37nOO a'IIM Pack fls . loeod Alliud I' cits . 111000 Allied Pack hs . loeoo Alum 7a of 33 3000 aim cot oil in 1000 Am Tel B lit 22 2000 Am iei us 01 .1 . 300) Anaren Cep (In tioeo Aliainn 7h of 20 20O0 An Am oil 74s I0O00 Harnsdall ht 3000 Heth H 7s of 21 h". (II '.Hi 1 1041. lel ns us". 14 1)1 HI 4 2S HO 1 I, 2H 1 I 11 34 34 3u 1 11 1.' h'4 32 11 Sll l'i 14 3 .'II 13 83 e.'i 14 tu 83 (III JO Ik ni 20 4 2S 2'l lh 34 as" 3 ii 1:1 K4 32 ?.- "ill, 14 10 11 b'l 44 14 3 31 13 bl li4 03 IVj 4 K3 111 00 1044 us', 107 .1117 4 107 1004 Hin ioe4 iii jyu 100 10H'', 1H34 1IH4 . 1U'I4 103 1IHS .lO'.'e 105, 103', 3000 Heth H 7s or 21 in;i4 luiu ieavt 2'ie(i jiiiin is tu flj im-'s m-'a j'i.-, 2000 Cent . Steel K . 101 4 103 1034 loeoo Char Iren . . . US HH US 4000 Cel Oi'iph hs . . 40 in 40 20OO Cens (las 7s . I014 HH lelH 10000 Ceils 'lex hs . I'll Oh OS 3000 C&u Hxp Fs of 21.. 1024 lu34 102i riOOi) Del i. ii'id ej . 01 'J'' ."UOO Hmp O ft It 0 if. 10G4 31IU011 r reepen ie iis 1000 (lalena 7a . . 1000 den Annli fis ...103 103 10 2000 drandttTr HV4s ...ion ion voeooulf oil 7s . . .104 101 12000 Hernhey Che 74b. 102 102 1000 Heed Huh 7s . . H4 (i4 mi 11 1 yi .1004 1004 1004 102 1014 1014 1014 1034 108 11000 Hum Oil 7s 10 ..ion, 1014 loeoo Interbore 7s HO 110 00000 luterburu Sh hui, 1124 UOOOKuyser 7s 1014 101 , I00O Hans U 11 0st . IHt'i I'H'i 1OO0O Kennncntt laoe i.iepy ik .. neon Marland 74 s .. (1400O Me I'ac Is 30O0 Nut At me 74 s SOoeN Y N II . II Is ..AA.. -V . II . tl ?u ,pniii .n 4 .v it . 1011 IIS 4 . 07 10'1'i . 1174 . (1(1 OS 10(1 104 102 101 i 00 83 J i 1K14 100 084 l'i-- lomiNer Am L'dlsuli Os ns'i 3000 Ner Ohie I.Uht Us Oil 40oei'hlla Ce (Is .. H74 3000 Phillips pet .ut.,.110 denn P11I1 ( rv N J neon Unlit (luir ts let 11 hnks Ce 311011 Siars-Hei-ti is Iliiefl S ( N Y 7h riiir.n s e N y 7t. Mihm 1 HON 1 if ion 1IR4 l)f)i 1004 11104 Hi H7'4 s'i h'l h04 S7 M24 li-'4 lid (HI H74 U74 110 no Itw'i 1004 1004 II. 0"-. 11 Land Title Bldg. Mftrw rklln. Stack : WIEGNEMOCKEYlCO. Certified Public Accountant Drexel BtaJdin. Ptitlndelphi. loe .5ts 1 hin Htuu.trt Warnei mh Kill II i0 Hnltl In H 3! lilll1. 1000 TOl l.dlHOn is 3'K nil I'll Oil Pre! hi . .'Ieimi t tah Hrc lis 40110 Vacuum nil 7s 40(e Warner H.ik 7s 100(1 Western Ulen 7 heihi M'lndi" ur 7 4s 23O0O Arnentlrw 7j .-.noun I'ltv Ilberfeld 3 'ioeo city or rniiisuii.1 os nt 73000 Helland Am I.ln 024 23UO0 Mex Oe 8 . '-1 'y WilHMI NY Nil & It 4s Pr 7H4 77HO00 NY NH S. II 7s Pr 78 311000 Par's Lyens M Hy hi 4 3000 llusslnn 04 n . ... 27 Toen Itnssian liVis sirs. 23 94000 iwlBH 34 1 J.IMMTT H Max 4s 1 . Iill4 004 Dili-. 22.101 Hll 101 27 .1034 Hi.Vi 1034 30,. 107 107 107 31 10h' lllh'a lOhi lOh 10(1 1034 103t. I01I4 10114 10(14 I "if, inn iii- Hill 100 1(10 10(14 l(l(,-4 10(14 1004 K104 H(i(J 10s-, 10S4 10h-, 1 101 11104 1004 ion ion f-nji U24 21-5 7I4 714 2l leiH 10-S in Ul ,,nr5''' New Ibsub $2,500,000 Manila Electric Company First Refunding Mortgage Geld Bends 7 Series due 1942 .Dated May 1,1922 Due May 1,194 Intweit payable eml-anmiallr May lit and Nevembur Ut. Principl and .nterett P7We 'lJSStSiiSSSS in New Yerk. Redeemable In whole (or for the operation of the .inking; fund In part) at the option eT ffSJ" ana lnciuaing my i, iyiv - iua. tncrcaiicr up 10 ana nciuuui nmj 4, " r-".-r yii7, liUMt.i i --i Ji accrued intereit in each case. Coupon bends In Interchanieable denoralnatlena of $1,000, $500 and $100, regliterable at te principal only. Fully retUtered bendt of $1 ,000 and $5,000. Coupon and fully reglttered bend Interchangeable. The Company will pay Interest without deduction of the normal Federal IncemaTax, deductible at the teuree, of 2, and will refund upon application within elxty days, the Pennsylvania Personal Property Xa te the extent or reur mills, and alto the Connecticut Personal Property Tax up te four mills annually. THB EQUITABLE TRUST COMPANY Q NW YORK, TRUBT Issuance authorized by the PublicUtUity Commiaaien of the Philippine lalanda Frem a letter Mr. Charles M. Swift, President of the Company, summarizes as follower Business and Territery: Security t Earnings Manila Electric Company is the unification of the companies which since 1905 have furnished the entire electric light and power and street railway service in the city of Manila and its environs in the Philippine Islands, serving in all a population in excess of 350,000. Manila is the capital, the trading and shipping center and the industrial metropolis of the Islands and is one of the important ports and trade centers of the Far East. These Bends will be secured, in the opinion of counsel, by a direct Mort gage Lien en the entire electric light and power and street railway proper ty and franchises of the Company, subject only te $4,648,000 of under lying Hens, closed mortgages. Based en an appraisal completed in April, 1922, the present fair value of this property, together with materials, supplies and ether working assets is ever $14,000,000. The record of earnings ever the past five years is as follews: Greaa Earnings Nat Earnings $1,795,746 $878,241 2,322,757 1,1,4S7 Yaar 1917 IwIO, aa ) - 1919 ) 19Zvt t)aeaaaaaaaaaaaat) 1 92 laaaaasaa IIUMMIIStMM 2,596,643 3,418,407 3,681,397 908.141 1,336,874 1,858,058 Equity Purpose of Issue: Net Earnings for the 12 months ended February 28th, 1922 were $1,582, 963 or ever 3 times the $407,400 annual interest charges en the total Funded Debt of the Company, including this issue. The railway business alone mere than earns total interest charges and the electric business alone earns these charges ever 2V2 times. The above earnings are based en the normal rate of Philippine exchange. These bends will be followed by'$5,000,000par value of the outstanding Capital Stock of The Manila Electric Corporation (formerly The Manila Electric Railroad fc Lighting Corporation) which owns all of the outstand ing Capital Stock, except directors' shares, of Manila Electric Company. The Common Stock of The Manila Electric Corporation is listed en the New Yerk and Londen Stock Exchanges and dividends have been paid regularly since 1906, and at net less than the present rate of 6 per annum since 1911. The 7 Series Bends due 1942 will be unconditionally guaranteed, principal and interest, by The Manila Electric Corporation. Proceeds from the sale of these Bends will provide funds for refunding the Three-Year 1 Geld Notes of The Manila Electric Railroad fli Lighting Corporation, due September 1, 1922, for extensive additions te the electric generating capacity, new nearly completed, and for ethes corporate purposes of the operating company All lekal- matters in connection with the issue of these Bends will be passed upon by Messrs. Murray, Prentice fts Aldrieh of New Yerk for the Bankers, and Messrs. Roberts, Montgomery fls McKeehan, of Philadelphia, for the Company. The accounts of tha Company are audited annually by Messrs. Hasklns 8s Sells, Certified Public Accountants, New Yerk, and Messrs. Clark Os Larkia. Certified Public Accountants, Manila, P. I. Tha Benda are offend whan, as and if issued and raceWad by ua, subject te approval of counsel,.; Price 98V2 and accrued interest, yielding ever 7.10. Bonbright & Company J. G. White & Company Incorporates The information contained in this advertisement has been obtained from seuresa which we consider reliable. Wnile net guaranteed, It is accepted by us as accurate. New Yerk and Queens County Railway Company Te the Helders of First Consolidated Mortgage Four Per Cent Forty-six Year Geld Bends Default was made in the payment e,E the bemi-unnual inter est due en the above bends en April 1, 1922, and defaults have also been made In the payment of the semi-annual interest en the underlying Steinway Railway Company's First Mortgage Six Per Cent Geld Bends due January 1, 1922, and of the semi annual interest en the underlying Newtown Railway Company's First Mortgage Five Per Cent Geld Bends, and en the underlying Flushing and College Point Electric Railway Company's First Mortgage Five Per Cent Geld Bends, both due December 1, 1921. Foreclosure proceedings have been instituted by the Trustee under the Steinway mortgage and application made for the ap pointment of a Receiver for the Steinway property. In view of these defaults and proceedings the undersigned Protective Committee has been formed under a Deposit Agree ment dnted April fl, 1922, in order that the First Consolidated Mortgage Bondholders may take concerted action for the protec tion of their security. Bondholders are urged te deposit their bends, with April 1 1922, and all subsequent coupons attached, as promptly as pos sible, and en or before May 1, 1922, with THE FARMERS LOAN AND TRUST COMPANY. 22 William Street. N,v vib p . , Depositary under the Deposit Agreement, or with THE PENV . SYLVAMA COMPANY FOR INSURANCES ON LIVES AND GRANTING ANNUITIES, 517 Chestnut Street. PhllaS in " hub-Depositary. Against such deposits the Depositary will issuM its transferable certificates of deposit as provided in the Deposit Agreement. Copies of the Deposit Agreement may be obtained at the office of the Depositary or the Sub-Depesitary. . New Yeik, April 20, 1922. FREDERICK OSBORN, C. STEVENSON JiBWBAuE- JAMES II. PERKINS. ' Committee. C. D. BAILED. Secretary. 32 Broadway, New Yerk City. CRAVATH, HENDERSON, LEFFINGWELL & I)E GERSDORFF, Counsel 32 William Street, New Yerk Cit). Jf M r OFFICERS CHARLES m, INOEKSOLTj, Pres. STANLEY D. WILSON. Vlce-PrM. AltCHIE D. SWIFT, Cashier DAVID a CARSON, Aset te Pres. ALBERT H. ASHBY. Asst CasUtsr WILLIAM POST Chairman Executive Committee Mr. Frank H. Tayler, President of the S. S. White Dental Manufacturing Company, said te v&: "It is our business te serve n great profession thnt is daily growing In dignity and public appreciation. The products of Philadelphia still set the standards for th'e world. Phila delphia also stands first in the practice of den tistry and demands progress from our experts and skillful workmen. This growth involves sympathetic relations with our banks, without which progress would only be made during periods of exceptional prosperity." CentralNatienal Bank of Philadelphia Chestnut S tteet at B1M1 Capitel Ji.000,000 Surs?itt and Undivided Pnfits Earned $6ovce J II M Wr "" I a;. h7 if.-, 7SJ Tl 2 5 MIS Mlfr DIRECTOR 1 .si Intcrcstlnv llnunciul Industry with ir.meiuleus future nmv ; gietvlne ut rapid ni i reiiutrrs 'ne additional asserlats as Ijli-ecler. preferably treurfsslv business man uctle partlli patlen new or later. Nem ml Investment, up le IBOOU, will v.. this amount yeurlys. Increased pruductieu over ever lipped l(J-fuW by constantly growing dcijiftntle. ...... . .v.,. . . , . KUiirsi V ," ,V. . iVi ." aiV Ti 1. MMi,ti luivrvBip, VfjKa wwiyoiwe. prlsa turn atrlcS enver AS Gas & Electric Light Ce. 67c Pfd. Stock, YUld Over V, Hanry L. Drarty A C. J. ViE IIAVU MONEY Ter Jldrtcacrs. AnyAmeunt.Clly Preprrtr ABE KOLSKY &COMPANY,hc. N. W. C'Oll. OTII t WALNUT 8TS. LEE, HIG6INS0N & G J . Establtsksd 1SII """ "'li'i,S?'T CHIOAOOl tmwm Ktwmwmm W4fWsHMSlifctel We Have (or Sale 100 Shares Fourth Street Natl. Bank MORLEY, WOOD & CO. 333 Chestnut Street MNubers N. Y. ii Phil. Stock Extb's. AUTOMOBILE INSURANCE inmvtWSSS Wl f i:M J - ! , V tt i.1-Jni?s rn rrruH ..'. Mfflkk dMmtJJm i vJ ie.r ". '' tyH'l - , h '&& u 3, J, -A f? JftMh&.Ti,'fy ,r. ?,?j! VJ ,K& iir ,$. Eyff(' -r y ' WiHi wrf.jJj,z' . rlht i )r- iv'fllJ S5 " ""-" 1J xr.Kvsj, MXrM'llSk . W,eMlk,)MH., fc t iW Wv" WW' .
Significant historical Pennsylvania newspapers